Fully describe the business's activities?
This is a asset and stock sale for a Franchised pawn shop This store did quit well.
How long has the business been established?
How long has the owner had the business?
The owner have the shop for last 4 years now
How does the business operate on a daily basis?
The business is manager run with very little input by the owner.
How are the clients attracted to the business?
Regular customer base and walk in business.
What Advertising/Marketing is carried out?
TV ads, franchisor website, bulk sms campaigns, promotional pamphlets and Junk mail.
Does the business have any contract work?
What competition exists?
Nationally there is a franchised competitor, but no direct competition to this store in the area.
What are the seasonal trends?
No real seasonal trends, but January months are slower.
How did the Covid-19 pandemic impact the business turnover / daily operations?
Covid did have a impact on the business. Turn over have drop and daily operations was down sized
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Staff work on reduced trading hours that lower costs
Is the business VAT Registered?
What VAT documentation is on file?
Will be supplied on request
Are there up-to-date Management Accounts available?
Yes. Ending Feb 2021.
What Balance Sheet and Income Statements are available?
Yes ending Feb 2021
What percentage of the business is cash/credit?
Cash and credit cards are 50/50
How could the profitability of the business be improved?
Owner involvement would definitively increase business
Is Seller finance available and for what amount?
What is the total staff complement?
7 Staff members
Give a breakdown of staff/ functions/ length of service?
Manager x 1,Assist Man x 1, BuyersX1,Salesman/CashiersX4
Do any receive special perks or incentives?
Yes. All staff is incentivised
Are they on contract?
Do any have management potential?
How involved is the Owner in running the business?
The business is manager run. Owner is not actively involved in the running of the business.
Any special arrangements for the staff related to the Covid-19 pandemic?
Staff works on a shift based ,hourly income.
When does the current lease end?
3 Years remaining of current lease
Is there an option of renewal & what period?
Yes, to be negotiated
What are the trading hours?
Mon-Fri 8am-6pm, Sat 8am-5pm, Sun / Pub hol 9am-2pm. Closed on Christmas and Easter Friday and New yearâs day
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
How have they been valued ?
Fair market / Replacement value.
Is a full asset list on file?
Yes ,on request
Recession proof, well established, well run business
Lack of owner involvement
An investment in more stock will increase the business even further
What is the reason for the sale?
Asset based sale
Why is this a good business?
Recession proof, well run, well established business. Any owner involvement will increase business. This business has the potential to reach profits in excess of R60 000 pm but needs a good owner involvement. Asset based sale
What is the price plus stock and the profit?
Total stock and asset sale for R601 000
Annual Turnover Amount between R 500 thousand and R 6 million