Fully describe the business's activities?
This franchise forms part of a large and growing network of franchises that services all vehicles that has run out of their motor plans.
How long has the business been established?
Established in 2014
How long has the owner had the business?
Owner took over the business in May 2018
How does the business operate on a daily basis?
The manager and secretary are two key people in this operation and both are very capable. Manager opens and closes daily.
How are the clients attracted to the business?
The business employs 7 flyer distributors.
What Advertising/Marketing is carried out?
Marketing is done via franchisor and a marketing fee of 2.5% is paid monthly
What are the seasonal trends?
Decembers tend to be slow
Is the business VAT Registered?
Yes, the business is registered for VAT
Are there up-to-date Management Accounts available?
Owner has provided management accounts for the months May 2018 to March 2019.
What percentage of the business is cash/credit?
95% of the business is cash
Is Seller finance available and for what amount?
Owner will consider this with a 70% deposit payable.
What is the total staff complement?
5 x Permanent staff 7 x Temp Flyer distributors
Give a breakdown of staff/ functions/ length of service?
1 x Manager - 10 months 1 x Secretary - 14 months 1 x Qualified Mechanic - many years 1 x Assistant Mechanic 1 x Cleaner
Are they on contract?
All permanent staff are on contract
How involved is the Owner in running the business?
Owner not physically involved. Act as finance manager and try to visit each branch daily.
When does the current lease end?
Is there an option of renewal & what period?
5 year renewal option
What is the annual escalation %?
What are the trading hours?
7am - 5pm Monday to Friday and 8am - 1pm on Saturday.
What is the square meters of the business?
Do you require a licence?
Registered with MIBCO and RMI
What lease deposit and/or other surety is required?
2.5months lease deposit of R100 000
What are the main assets of the business?
2 x Lifts, diagnostic machine and loose tools
Are any items not included in the sale?
Currently the vehicle (Nissan MP200 2012model) not included. This can be negotiated.
What is their overall condition?
Everything is in a good and working condition.
How have they been valued ?
Are they presently insured?
Comprehensive insurance is in place.
This is the only franchise in the suburb. Previous ties with Government. Established name. Good customer base.
Far to travel for the owner.
Government work. More marketing in the town.
None were identified.
What is the reason for the sale?
Owner is an entrepreneur that builds and sells businesses.
Why is this a good business?
Good systems in place. Experienced staff. Good support from franchisor. Known brand
What is the price plus stock and the profit?
R1 400 000 including about R10 000 stock.
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