Fully describe the business's activities?
Laundry and Boxman selling boxes and edger document storage.
How long has the business been established?
The laundry is in operation for 20 years.
How long has the owner had the business?
The owner bought the laundry 6,5 years ago and then bought the area for Boxman.
How does the business operate on a daily basis?
Clients drop of laundry and other come in to buy boxes and related stuff.
How are the clients attracted to the business?
Repeat business and sign boards.
What Advertising/Marketing is carried out?
Laundry - no advertising Boxman - area based as per website
What are the seasonal trends?
There are no real seasonal trends, the sales remains steady over the year.
Is the business VAT Registered?
The business is not VAT registered.
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
Up to date management accounts for the period March to September 2019 are on file.
What Balance Sheet and Income Statements are available?
AFS for the year ended February 2019 on file.
What percentage of the business is cash/credit?
100% immediate payments for laundry services and sale of boxes. 25% cash 75% credit card
What is the age analysis of the debtors book?
no debtors, cash only
How could the profitability of the business be improved?
Marketing to attract more clients and target restaurants and companies in the area for laundry services. Better stock control Owner involvement, the current owner also owns a beauty and hair salon in the same shopping center and does not have time to spend in this business. Offer shoe repairs, tailoring, dry cleaning
Is Seller finance available and for what amount?
The seller will look at all reasonable offers.
What is the total staff complement?
The total staff compliment is 4.
Give a breakdown of staff/ functions/ length of service?
We have a staff list and also copies of payslips on file.
Do any receive special perks or incentives?
The staff does not get special perks or incentives, this could be an idea to motivate the staff to increase sales.
Are they on contract?
The staff are on employment contracts.
Do any have management potential?
The one staff member has management skills and is basically running the business and communicate with the owner.
How involved is the Owner in running the business?
The owner is only providing oversight.
When does the current lease end?
The current lease ends 31st October 2019
Is there an option of renewal & what period?
Yes, there is an option to renew and to be negotiated with the landlord.
What is the annual escalation %?
What are the trading hours?
Monday to Friday 7am to 19h30 Saturday 8am to 15h00 Sundays 8am to 15h00
What is the square meters of the business?
to be confirmed
Who is the Owner/Landlord?
To be confirmed to a serious buyer.
Is a copy of the lease available?
The seller will provide a copy of the lease to a serious buyer.
Do you require a licence?
No license is required.
What lease deposit and/or other surety is required?
2 months rental
What are the main assets of the business?
5 washing machines, 5 tumble dryers, 3 boxman display units, till, scale, iron boards and irons, shelving. sign board and display/reception desk.
Are any items not included in the sale?
All items as seen on the asset list are included in the sale.
What is their overall condition?
The assets are in good working condition.
Do any require repairing?
From time to time some assets will be repaired or replaced, this is however not on a regular basis or required.
How have they been valued ?
The owner valued the assets at market value and the stock at cost value.
Which assets are on lease/HP and with whom?
The assets are unencumbered.
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
The business and its assets are comprehensively insured.
Good location Longstanding business Easy to manage
Lack of owner involvement and marketing
Offer other services such as, tailoring, shoe repairs and dry cleaning.
No real threats are identified, other than general decline in the economy .
What is the reason for the sale?
The owner is relocating.
Why is this a good business?
Many possibilities to improve the profitability by offering other services, such as tailoring, shoe repairs and dry cleaning. With an involved owner this business will do well.
What is the price plus stock and the profit?
R1750,000, inclusive of stock to the value of R25,000.
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