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  • Mandate: 32945
  • Added: 16 Apr 2019
  • AFS
  • 581

Registered Johannesburg Nursery and Preschool including Premises

Gauteng, Johannesburg
581
Mandate 32945
Added 16 Apr 2019
R 1,525,000* ZAR
Stock: R 0
Assets: R 489,860
R 79,815 ZAR
Stan Moran
(PRINCIPAL)
Aldes Ace
Gauteng
Summary

Established nursery and preschool with customized leased premises incorporating heated swimming pool.

Registered Johannesburg Nursery and Preschool including Premises
SELLING PRICE AFS
R 1,525,000* ZAR
Stock: R0
Assets: R489,860
R 79,815 ZAR
Summary

Established nursery and preschool with customized leased premises incorporating heated swimming pool.

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Fully describe the business's activities?
Nursery school facility for ages 3 months to 6 years

How long has the business been established?
Since 2014 with change to Pty Ltd company in 2017

How long has the owner had the business?
Since inception

How does the business operate on a daily basis?
Managed and run by two owners, teachers, assistant teachers and staff.

How are the clients attracted to the business?
By word of mouth referrals and local walks ins

What Advertising/Marketing is carried out?
None

Does the business have any contract work?
No

What competition exists?
Numerous local nursery schools but reputation ensures full classes

What are the seasonal trends?
None

Is the business VAT Registered?
Not required as an educational institution

What VAT documentation is on file?
N/A

Are there up-to-date Management Accounts available?
Yes

What Balance Sheet and Income Statements are available?
February 2019

What percentage of the business is cash/credit?
Minimal credit provided for some clients but not as a rule

What is the age analysis of the debtors book?
N/A

How could the profitability of the business be improved?
Many opportunities such as aftercare, homework/study centre, swimming lessons in heated swimming pool on premises.

Is Seller finance available and for what amount?
No

What is the total staff complement?
11

Give a breakdown of staff/ functions/ length of service?
4 teachers 1 teaching assistant 4 caregivers 1 chef 1 groundsman/maintenance Some employed since inception some less than a year

Do any receive special perks or incentives?
Discretionary year end bonus. Extra percentage over annual increase for good performance

Are they on contract?
Yes

Do any have management potential?
Possibly, but would need training

How involved is the Owner in running the business?
Owner is fully involved

When does the current lease end?
Premises are owned by the seller who will offer a five-year lease at R20,000/month for the first twelve months, escalating at 5% per annum. A rental amount has been included as an expense in the business income statement. The purchaser will have right of first refusal to purchase the premises at the current bank valuation of R2.7m for the first twelve months and thereafter for the duration of the lease at a value to be assessed by the bank, or such lower amount that the seller may choose to accept from another buyer.

Is there an option of renewal & what period?
Can be discussed

What is the annual escalation %?
5%

What are the trading hours?
6 am to 6 pm Mon to Thu 6 am to 5.30 pm Fri

What is the square meters of the business?
Erf size is 991sqm

Who is the Owner/Landlord?
The seller

Is a copy of the lease available?
N/A

Do you require a licence?
Yes

What lease deposit and/or other surety is required?
N/A

What are the main assets of the business?
List has been provided, which includes all furniture, fittings, equipment as can be seen on the premises.

Are any items not included in the sale?
Personal belongings of the seller which will be pointed out on request

What is their overall condition?
All in good working order

Do any require repairing?
No

How have they been valued ?
At estimated second hand market value

Which assets are on lease/HP and with whom?
None

What are their settlement amounts?
N/A

Will Seller settle or Buyer to take over?
N/A

Are copies of agreements available?
N/A

Are they presently insured?
Only necessary items

Strengths?
Continual annual growth without any marketing or advertising, due to a good reputation. Recently approved by the Health Department to accommodate 77 children. Demand exceeds supply for good quality nursery schools such as this.

Weaknesses?
Limited parking on premises, which can be rectified

Opportunities?
Heated swimming pool currently providing lessons only to in house students. With additional swimming teacher, lessons can be offered to larger group of children resulting in considerably increased net profits. Premises can also be used for study/homework groups or extra lessons after hours and aftercare.

Threats?
No real threats as the market is such that demand always exceeds supply in this business

What is the reason for the sale?
One owner wants to retire and the other wishes to emigrate

Why is this a good business?
There is an ongoing demand for good quality child care and early foundation training for children across a multi-racial spectrum. This is a well established school offering good quality learning in a loving, caring, safe environment providing quality education, good healthy well balanced meals at a value for money price. Premises have been modified to fulfill the needs of this business and the students for now and long into the future.

What is the price plus stock and the profit?
Price for the business as a going concern is R1,525,000. The purchaser will have an option to purchase the premises at a later stage.

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FRANCHISE DETAILS

Aldes Ace

1 members
5 active mandates
Gauteng
6 Nightingale Road, Atlasville
1459

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