Fully describe the business's activities?
This well established business specialises in the supply of portioned and prepared seafood, however, they also distribute a variety of meat and chicken products as well as processed cheeses, coldmeats, sauces and spices. Clients include restaurants, guesthouses, school tuck shops, correctional services facilities as well as host of others. The business also services the general public from its retail store located in a small but convenient shopping center.
How long has the business been established?
The business was started in 1999.
How long has the owner had the business?
The owner has been operating the business successfully for the past 5 years.
How does the business operate on a daily basis?
Clients place orders telephonically or via email and Whatsapp. Orders are prepared and portioned according to clients' requirements and are then delivered timeously.
How are the clients attracted to the business?
The business has attracted long standing, loyal customers by providing high quality products at wholesale prices. It is a one-stop shop and the business is renowned for providing an impeccable service to all of its clients.
What Advertising/Marketing is carried out?
The business carries out some advertising on social media platforms such as Facebook, as well as in the local newspapers. From time to time pamphlets are printed and distributed.
Does the business have any contract work?
There are no formal contracts in place.
What competition exists?
There are a number of businesses providing similar products, however, there is very little competition in the seafood lines.
What are the seasonal trends?
Winter tends to be marginally slower.
Is the business VAT Registered?
Yes, the business is a VAT vendor.
Are there up-to-date Management Accounts available?
Yes, records are kept up to date.
What Balance Sheet and Income Statements are available?
Financial statements in respect of the year ended February 2019 are on file.
What percentage of the business is cash/credit?
There is very little credit and most orders are paid for in cash or EFT.
How could the profitability of the business be improved?
There is an enormous opportunity to increase the volume of sales by employing a sales representative and expanding the geographical area.
Is Seller finance available and for what amount?
What is the total staff complement?
The business employs 4 staff members - A blockman, a driver and 2 general workers.
Are they on contract?
There are valid contracts in place with all staff members.
How involved is the Owner in running the business?
The owner is fully involved in the day-to-day operations of the business.
When does the current lease end?
The current lease expires in April 2020, however, a new lease agreement can be negotiated.
What are the trading hours?
The business operates from 8am to 5:30pm on Mondays to Fridays and from 8am to 2pm on Saturdays. The business is closed on Sundays and public holidays.
Is a copy of the lease available?
Yes a copy of the lease is on file.
Do you require a licence?
A business license is required as well as compliance with various health, fire and safety regulations.
What are the main assets of the business?
A full inventory of the assets and equipment is available on request.
What is their overall condition?
The overall condition of the assets is good. They have been well maintained.
How have they been valued ?
The assets have been valued by the owner at second hand value.
Which assets are on lease/HP and with whom?
The delivery vehicle is currently on HP with a reputable financial institution.
Are they presently insured?
Yes, the assets are comprehensively insured.
- Well established business - Long standing, loyal clientele - Excellent reputation for high quality products at wholesale prices - Renowned for impeccable service
- No sales representatives
- There is an opportunity to increase sales by incorporating new and additional products - An excellent opportunity to market to many more restaurants, coffee shops, guesthouses and catering companies as well as schools and other government institutions.
What is the reason for the sale?
The sellers have other interests which they would like to focus on.
Why is this a good business?
This is a well established business with good potential for growth.
What is the price plus stock and the net profit?
R700 000 excluding stock estimated at R100 000.
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