Fully describe the business's activities?
This is a full service motor workshop, offering all the normal maintenance and repairs to all makes of cars
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The owners open and close the business daily between them
How are the clients attracted to the business?
Locally they are well known, clients often drop off their cars in the morning and Uber to work and pick up their cars after work
What Advertising/Marketing is carried out?
They have a website and facebook and utilise google ad words to attract new customers
Does the business have any contract work?
No, but they have regular fleet work and repeat clients
What competition exists?
There are other workshops in Randburg, but not many close to them
What are the seasonal trends?
Busiest November, early December and Easter period
Is the business VAT Registered?
What VAT documentation is on file?
This will be made available during a due diligence
Are there up-to-date Management Accounts available?
Yes, to February 2019
What Balance Sheet and Income Statements are available?
To February 2018
What percentage of the business is cash/credit?
Mostly card or EFT
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
More advertising, follow ups to remind clients that they have not serviced for a while and more cross selling when a car is being serviced
Is Seller finance available and for what amount?
What is the total staff complement?
There are 3 mechanics and a casual cleaner. Three members of the family are involved part time, a new owner would only need an owner operator and perhaps an admin person for which a salary of R10 000pm has been added into expenses
Give a breakdown of staff/ functions/ length of service?
3 full time mechanics
Do any receive special perks or incentives?
Discretionary December bonus
Are they on contract?
Do any have management potential?
How involved is the Owner in running the business?
One of the family is always at the business
When does the current lease end?
Is there an option of renewal & what period?
Yes 3 years
What is the annual escalation %?
What are the trading hours?
06h30 to 17h00 Monday to Friday
What is the square meters of the business?
150 square metres plus large yard
Do you require a licence?
They are members of the RMI and Micfa Bargaining Council
What lease deposit and/or other surety is required?
To Be confirmed
What are the main assets of the business?
Normal workshop assets
Are any items not included in the sale?
What is their overall condition?
Good working order
Do any require repairing?
How have they been valued ?
From 2018 Balance sheet
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 is a well established business in an affluent suburb, with an excellent reputation for quality at a reasonable price
Business can be improved with more advertising, follow ups to remind clients that they have not serviced for a while and more cross selling when a car is being serviced
What is the reason for the sale?
The family are emigrating to New Zealand
Why is this a good business?
Excellent well established profitable business
What is the price plus stock and the net profit?
Selling at R2.3 million netting over R117k per month on the basis of EBITDA and owners drawings
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