Fully describe the business's activities?
A FULL-SERVICE LAUNDRY DROP OFF, AS WELL AS A DRY CLEANING SERVICE. This laundry has an established client base build up over years. Based in an upmarket area of Centurion they are well supported by the local community.
How long has the business been established?
This laundry was established in 2008
How long has the owner had the business?
The current owner bought it in 2018
How does the business operate on a daily basis?
One of the Supervisory staff open at 6h00. Stock is pre- paired , washed, ironed and packed for pick up. Chemicals order as needed. SMS send to Clients. Owner cash up and closes.
How are the clients attracted to the business?
Word of mouth attracts a lot of new clients. A good local established regular clients base supports the business.
What Advertising/Marketing is carried out?
Does the business have any contract work?
Yes, not formal. Guesthouse , and a business in the medical industry, and a church on a frequent basis. Schools, and legal practises.
What competition exists?
Some in the area.
What are the seasonal trends?
None we can perceive
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
A Profit and loss statement for 12 Months is available.
What Balance Sheet and Income Statements are available?
Yes for 12 months ending December 2018.
What percentage of the business is cash/credit?
30/70 Cash /card deals.
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
A good local store marketing Plan will improve profitability. Guest houses can be canvassed.
Is Seller finance available and for what amount?
What is the total staff complement?
6 Staff members
Give a breakdown of staff/ functions/ length of service?
2 Senior shop assistant 2 Cashier 2 Iron lady. Staff are very experienced and operate on their own.
Do any receive special perks or incentives?
Are they on contract?
Do any have management potential?
The 2 shop assistants.
How involved is the Owner in running the business?
Owner is involved 4 to 5 hours daily.
When does the current lease end?
The lease is renewed yearly in March.
Is there an option of renewal & what period?
Yes for a year.
What is the annual escalation %?
What are the trading hours?
Monday to Thursday from 6h00 to 18h00 Friday from 6h00 to 17h30 Saterday from 7h00 to 13h00
What is the square meters of the business?
Is a copy of the lease available?
Yes on request
Do you require a licence?
What lease deposit and/or other surety is required?
Lease deposit is 2X monthly rental. W&L is R7000.
What are the main assets of the business?
Asset register is available.
Are any items not included in the sale?
Sold lock stock and barrel.
What is their overall condition?
Do any require repairing?
How have they been valued ?
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
This laundry is based next to a very busy road. The surrounding suburb is in the higher income market segment. They are well supported by the local community, and businesses. They also offer a Dry cleaning service. Some local businesses, churches and guest houses use their services on a regular basis.
Marketing. A good local store marketing plan needs to be put in place.
The trading area consists of a residential area, Light industry, Guesthouses, Lodges and a lot of businesses. Tap into these opportunities and the profits will increase.
What is the reason for the sale?
The owner is moving to Potch. His wife working at the University.
Why is this a good business?
This laundry has a good client base. Based in an upmarket residential area. Shows good profits.
What is the price plus stock and the net profit?
Selling price R460 000. Stock R5000. Profit R240 242 for 12 months.
Annual Turnover Amount between R 500 thousand and R 6 million