Fully describe the business's activities?
A well established convenience store with independent branding. Opens early closes late and services the surrounding offices and residential suburbs. Positioned next to a fuel station which does not have a convenience shop.
How long has the business been established?
Owner bought the business in 2009.
How does the business operate on a daily basis?
Opens early & closes late. there are 2 managers in the business.
How are the clients attracted to the business?
The business is well position to service a number of large corporate buildings, surrounding residential area and users of the filling station.
What Advertising/Marketing is carried out?
Well signed & is well known.
What competition exists?
Nothing in the immediate area.
What are the seasonal trends?
january qiet as many companies in the area only open in made january, and winter months are also a bit quieter.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
What percentage of the business is cash/credit?
20% credit card, 80% cash
What is the total staff complement?
Are they on contract?
10 staff in total with 2 managers
How involved is the Owner in running the business?
The seller owns a number of stores so business has managers in it who report to a "head office"
When does the current lease end?
Is there an option of renewal & what period?
Current lease ends 2014 and new lease to be negotiated. The landlord will grant an extension however it will include a development clause with 6 months notice.
What is the annual escalation %?
What are the trading hours?
M-F 6-11, S&S 7-11
What is the square meters of the business?
Do you require a licence?
Yes, liquor is sold but this is a small %
Are any items not included in the sale?
What is their overall condition?
How have they been valued ?
Value of fittings etc around R3-400k
Are they presently insured?
Very well located, convenience to many, next to fuel station, managers in place, good margins
Long hours, staff run
Possibly offer deliveries, extend to include Kosher
What is the reason for the sale?
Seller wants to focus on continuing to grow his group
Why is this a good business?
Very convenient, captive office parks enviroments, location, well known
What is the price plus stock and the net profit?
R1m plus stock
Annual Turnover Amount between R 500 thousand and R 6 million