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?
How long has the owner had the business?
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?
What competition exists?
No, nearest competition is 25km away.
What are the seasonal trends?
Very consistent throughout the year.
Is the business VAT Registered?
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?
What percentage of the business is cash/credit?
50% cash and 50% credit
What is the age analysis of the debtors book?
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?
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?
Do any have management potential?
How involved is the Owner in running the business?
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 %?
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?
Do you require a licence?
What lease deposit and/or other surety is required?
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?
Do any require repairing?
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.
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.
Owner run at the moment
Potential manager in place. Will free up more time for the owner to source new clients
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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