Fully describe the business's activities?
This is a one stop shop for Laundry, Dry Cleaning, Alterations, Key Cutting and sewing machine repairs. What cannot be done on the premises is subcontracted to nearby shop. 80% of the business turnover is generated from alterations.
How long has the business been established?
The owner started the business 12 years ago.
How does the business operate on a daily basis?
The business operates from Monday to Friday 8am to 5pm, Saturdays from 8am to 3pm and no Sundays or Public Holidays. The tailor opens and closes the business.
How are the clients attracted to the business?
Clients are attracted mainly via word of mouth. With the business being located next to the anchor tenant a lot of clients are attracted when passing by.
What Advertising/Marketing is carried out?
Signage, Facebook and Google Ads
Does the business have any contract work?
There are verbal agreements with four other dry cleaners who send their alteration work to this business.
What competition exists?
No other competition in the alteration side.
What are the seasonal trends?
Winter is the businesses busiest time and then also during the season changes.
How did the Covid-19 pandemic impact the business turnover / daily operations?
The business was closed for April
Is the business VAT Registered?
No, not needed at this stage.
Are there up-to-date Management Accounts available?
Owner keeps daily records.
What percentage of the business is cash/credit?
This is a cash only business.
How could the profitability of the business be improved?
More advertising can be done. A rep/new owner can approach schools to do alterations for them.
Is Seller finance available and for what amount?
No, owner is looking for a cash offer.
What is the total staff complement?
Other than the owner the business employs two seamstresses.
Give a breakdown of staff/ functions/ length of service?
12 years with a salary of R5000 2 years with a salary of R3500
How involved is the Owner in running the business?
Owner spends about 4 hours per day at the business.
When does the current lease end?
A four year lease ends in May 2023.
What is the square meters of the business?
Approximately 28 sq/m
Is a copy of the lease available?
Yes, a copy is available from owner.
What lease deposit and/or other surety is required?
Two months deposit is payable.
What are the main assets of the business?
4 x sewing machines 2 x over lockers Washing machine Tumble drier Till Cameras with monitor
Are any items not included in the sale?
All items are included.
What is their overall condition?
All items are in a good and working order.
Do any require repairing?
No, regular maintenance on machines.
Are they presently insured?
Good service and quality of work is provided to clients. This is a cash business. Good location Excellent staff
Visiting schools to advertise alteration services.
None were identified.
What is the reason for the sale?
Owner wants to retire
Why is this a good business?
It is an easy to manage business with low overheads and only cash sales.
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