Fully describe the business's activities?
International educational franchise provides lessons for under performing school age children for grades 1-12. Also helps those performers wanting to achieve A grades.
How long has the owner had the business?
Current owner bought franchise in 2010.
How does the business operate on a daily basis?
Children will have a plan developed for their needs based on their assessment outcome. They will follow then work on the plan under the supervision of a tutor.
How are the clients attracted to the business?
Internet and facebook, franchise advertising, word of mouth, pamphlets drops at schools, school news letter adverts.
Does the business have any contract work?
Clients do sign contracts.
What competition exists?
Franchisor provides territorial protection. No other international franchises.
What are the seasonal trends?
Often towards the end of year parents will register in order for children to get marks at year end.
Is the business VAT Registered?
No, vat exempt
Are there up-to-date Management Accounts available?
How could the profitability of the business be improved?
More direct marketing to the schools in the area.
What is the total staff complement?
How involved is the Owner in running the business?
Owner involved daily
When does the current lease end?
Is there an option of renewal & what period?
Yes, new owner will secure minimum of another 2 years
What is the annual escalation %?
What are the trading hours?
mon - Fri 8-5, Sat 8-1. Lessons are after school so mornings are admin and marketing
Who is the Owner/Landlord?
A local church
What lease deposit and/or other surety is required?
What are the main assets of the business?
Fixtures & fittings, computer equip
Well known international brand franchise, well established, good reputation
Owner ill health limits the growth, local schools relationships have not been developed
Build relationships with school heads in the area
What is the reason for the sale?
Ill health and age of seller
Why is this a good business?
Well established franchise with great opportunity to grow.
What is the price plus stock and the profit?
Annual Turnover Amount between R 500 thousand and R 6 million