Sectors / Category

Annual turnover

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  • Mandate: 32811
  • Added: 14 Mar 2019
  • AFS
  • 295

Locksmith in Northern KZN

KwaZulu-Natal, North Coast
295
Mandate 32811
Added 14 Mar 2019
R 2,690,000* ZAR
Stock: R 256,980
Assets: R 500,000
R 94,036 ZAR
PG Beukes
Aldes Zululand
KwaZulu-Natal
KwaZulu-Natal
Summary

This business was established in the 1980's and still going strong, current owner is relocating. This is a great business opportunity that should not be missed. Staff well trained, solid client base in place supporting the business due to excellent service and quality product offerings. Business very well located in a prime spot. Currently business is owner run, but potential manager is in place. Seller owns the business building, will be available to potential buyer as an option.

Locksmith in Northern KZN
SELLING PRICE AFS
R 2,690,000* ZAR
Stock: R256,980
Assets: R500,000
R 94,036 ZAR
Summary

This business was established in the 1980's and still going strong, current owner is relocating. This is a great business opportunity that should not be missed. Staff well trained, solid client base in place supporting the business due to excellent service and quality product offerings. Business very well located in a prime spot. Currently business is owner run, but potential manager is in place. Seller owns the business building, will be available to potential buyer as an option.

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Fully describe the business's activities?
Daily duties of a locksmith, unlocking locks, attending to call outs ASAP, the cutting of keys

How long has the business been established?
+ -40years

How long has the owner had the business?
16 years.

How does the business operate on a daily basis?
Trading hours are from 7:30 to 16:30 Monday to Friday and Saturday 8:00 to 12:00

How are the clients attracted to the business?
This business specializes in keys and locks, well known in the area with an outstanding reputation.

What Advertising/Marketing is carried out?
Local newspaper and + - 40 years word of mouth and good service

Does the business have any contract work?
No

What competition exists?
No, nearest competition is 25km away.

What are the seasonal trends?
Very consistent throughout the year.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Financials, available to any serious enquiries during due diligence stages.

Are there up-to-date Management Accounts available?
Yes, available to any serious enquiries during due diligence stages.

What Balance Sheet and Income Statements are available?
Financial statements

What percentage of the business is cash/credit?
50% cash and 50% credit

What is the age analysis of the debtors book?
None

How could the profitability of the business be improved?
The owner is currently 100% involved with this business of the day to day operations. The owner could free himself up a bit and look for more business and generate more income other than just walk in clients.

Is Seller finance available and for what amount?
Yes, seller will consider a small percentage over a short term.

What is the total staff complement?
4

Give a breakdown of staff/ functions/ length of service?
1x owner/manager, 16 years 1x potential manager, driver and lock/key specialist. 7 years 1x assistant 1x general worker

Do any receive special perks or incentives?
Incentive is in place for the potential manager

Are they on contract?
Yes

Do any have management potential?
Yes

How involved is the Owner in running the business?
100%

When does the current lease end?
The premises belong to the owner of the business, the lease can be negotiated. The premises is also up for sale and can be an option to buy with the business.

Is there an option of renewal & what period?
Yes, to be negotiated

What is the annual escalation %?
8%

What are the trading hours?
7:30 to 16:30 Monday to Friday and Saturday 8:00 to 12:00

What is the square meters of the business?
123 square meters

Who is the Owner/Landlord?
Owner of the business

Is a copy of the lease available?
Yes

Do you require a licence?
No

What lease deposit and/or other surety is required?
2 Months.

What are the main assets of the business?
Vehicles and Machinery.

Are any items not included in the sale?
To be discussed

What is their overall condition?
Very good

Do any require repairing?
No

How have they been valued ?
Cost and depreciation was implemented, current market related values.

Which assets are on lease/HP and with whom?
None, all paid for cash.

Are they presently insured?
Yes, full comprehensive insurance in place.

Strengths?
The number of years trading, solid well known business. Business is well positioned in a prime spot on a busy road. Staff is well trained, business is well known in the area for quality products and service excellence. Product offering in demand.

Weaknesses?
Owner run at the moment

Opportunities?
Potential manager in place. Will free up more time for the owner to source new clients

Threats?
No direct threats known of.

What is the reason for the sale?
Current owner wants to relocate to Cape Town.

Why is this a good business?
Been in business for years with a constant monthly turnover, this business is well known in this area and well supported.

What is the price plus stock and the net profit?
Selling price R2 690 000. Net Profit R R 94 000 per month

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FRANCHISE DETAILS

Aldes Zululand

2 members
28 active mandates
KwaZulu-Natal
28 Bronze Street
3880

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