Fully describe the business's activities?
This is a franchised jewellery store in a very busy shopping centre in the Garden Route.
How long has the business been established?
The owner established the shop in 2010.
How does the business operate on a daily basis?
Currently it is operated and managed by a manager with support staff. Normal operational procedures as can be expected of a jewellery store.
How are the clients attracted to the business?
Printed media adverts, social media and websites, store posters , stock displays, catalogue and brochures.
What competition exists?
Other retail jewelry stores.
What are the seasonal trends?
Although it is seasonal with the busy periods being December, January and April the store generates a good income during the rest of the year as well.
Is the business VAT Registered?
What VAT documentation is on file?
VAT returns include another trading business. Turnover can be confirmed with the franchisor.
Are there up-to-date Management Accounts available?
Yes and all financial information in this report is from the management accounts.
What percentage of the business is cash/credit?
It is a cash business.
Is Seller finance available and for what amount?
What is the total staff complement?
3 permanent employees and 1 casual.
Give a breakdown of staff/ functions/ length of service?
Manager 8 years Two sales staff respectively 6 months and 8 years
Do any receive special perks or incentives?
Are they on contract?
Yes they have employment contracts in place.
How involved is the Owner in running the business?
Setting policy and parametres Set budgets and monitoring Approve orders for major promotions Manages performance
When does the current lease end?
31 October 2020
Is there an option of renewal & what period?
Yes normally 5 years
What is the annual escalation %?
What are the trading hours?
Monday to Friday 9:00 - 18:00 Saturday 09:00 - 17:00 Sunday 09:00 - 15:00
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
Surety for 3 months rent
What are the main assets of the business?
Stock, fixtures and fittings, computer, office equipment and safe.
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
How have they been valued ?
Second-hand value for shop-fitting and equipment. The stock is valued at cost price.
Which assets are on lease/HP and with whom?
This business has been established for 8 years. They have a popular and strong brand name and are situated in a very good position in a busy popular mall. The franchisor provides excellent support and central buying benefits.
None that can be seen
Closer owner involvement in store would have a positive impact on the business.
What is the reason for the sale?
The owner is retiring and the manager has resigned.
Why is this a good business?
Successful and long established business. Enjoy sustainable income while living in the picturesque Garden Route.
What is the price plus stock and the net profit?
R590 000 plus stock of about R1.3mill.
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