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  • Mandate: 33475
  • Added: 07 Sep 2019
  • AFS
  • 54

Installer & Manufacturer of Wooden cupboards - very well established for over 20 years !

Western Cape, Cape Town
54
Mandate 33475
Added 07 Sep 2019
R 3,200,000* ZAR
Stock: R 200,000
Assets: R 1,400,000
R 90,093 ZAR
Pieter De Beer
Aldes Atlantic
Western Cape, Cape Town
Western Cape, Cape Town
Summary

Installer and Manufacturer of Wooden cupboards, furniture and the like in the Business to Business sector

Installer & Manufacturer of Wooden cupboards - very well established for over 20 years !
SELLING PRICE AFS
R 3,200,000* ZAR
Stock: R200,000
Assets: R1,400,000
R 90,093 ZAR
Summary

Installer and Manufacturer of Wooden cupboards, furniture and the like in the Business to Business sector

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Fully describe the business's activities?
Manufacturer and Installation of kitchen, bedroom, bathroom, vanity, study, bar custom built cabinets required for your home or business ! The business also specializes with insurance work for both businesses and the private home owner ! They do shop fitting for new shopfronts and as well upgrading into a new look and feel .

How long has the business been established?
The business was bought over in 2002 and it has existed since the early 1990.

How long has the owner had the business?
Since February 2002 (17 years)

How does the business operate on a daily basis?
The owner is mostly involved with quotations and the general management of the business. He has a strong workshop / production manager who also oversees the installation teams. Office staff will update the clients/subcontractors on progress of the jobs verbally or email. Ordering of materials art also handled between the workshop manager and other admin staff. Verbal communication happens daily between management and fitting teams.

How are the clients attracted to the business?
Business are mostly coming in from word of mouth. The 17 + years of being in existence has placed the business as one of the more reliable and reputable manufacturers and installers in the Cape area. The Website also drives in business but its reputation, the fact that it does insurance work as well and that the business is registered with KSA, makes the income stream stable.

What Advertising/Marketing is carried out?
Mostly website and business cards as the owner engages with clients and corporate entities.

Does the business have any contract work?
Insurance work is constant and this can also expand. Contracts are in place with various clients.

What competition exists?
There are other installers also but the business is well known in the industry.

What are the seasonal trends?
Cabinet design has not changed over the years however the seasonal trend at the moment is simplicity, open shelves with good lighting and minimalism. Clear lines, neutral color including oak and drift wood seemingly never to tire.

Is the business VAT Registered?
Yes - all in place

Are there up-to-date Management Accounts available?
Full Management Accounts with Annual Financial Statements will be made available to serious buyers.

What Balance Sheet and Income Statements are available?
AFS 2019.

How could the profitability of the business be improved?
To be discussed during a face to face visit with the seller.

What is the total staff complement?
20

Give a breakdown of staff/ functions/ length of service?
6 Office Staff (Receptionist, Office Administrator, Production Manager, Representative (owner), HR/Administrator, Cleaner. 6 workers in the workshop. The others are mostly on site. A full list will be made available.

Do any receive special perks or incentives?
Production Manager, (contribution of pension fund) & bonus The rest of the staff are registered with the BIBC eg. med aid, pension & holiday funds Office staff – yearly bonus

When does the current lease end?
The owner has such a good relationship with the Landlord that no lease currently exists. ( the business has been in the premises for over 5 years ) A new lease will have to be negotiated OR the business could be moved.

What is the annual escalation %?
8%

What are the trading hours?
8am-5pm Monday - Friday

What is the square meters of the business?
+- 800sqm

What are the main assets of the business?
Office furniture, manufacturing tools and machines, vehicles.

Which assets are on lease/HP and with whom?
There are one vehicle on HP. The buyer must take over OR it will not be included in the sale. The expenses for the vehicle were all left in the business.

What are their settlement amounts?
+- R 230 000

Strengths?
Versatility – Not One dimensional Consistently Hands on & dedicated to customer service

Weaknesses?
Larger premises could be better

Opportunities?
Enlarge Current Operation, more representatives / sales reps. Perhaps someone focusing only on insurance work quotations

What is the reason for the sale?
Retirement and emigration

Why is this a good business?
Fundamentally established and well known throughout the Industry. Excellent Staff Component Production manager very good which in essence with the correct addition to sales staff, could make this business qualify as ' manager run '.

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FRANCHISE DETAILS

Aldes Atlantic

6 members
21 active mandates
Western Cape , Cape Town
13 Imperial Bank Terraces Tyger Waterfont
Cape Town
7441

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