Fully describe the business's activities?
Panel Beater and Auto Body Shop located in the East of Pretoria. The business has agreements with most insurance companies as well as endorsements from the vehicle manufacturers. They handle insurance claims and cash customers.
How long has the business been established?
The business was established in 1996
How long has the owner had the business?
The current owner started the business in 1996
How does the business operate on a daily basis?
Clients coming in on a daily basis for quotations for repairs on their vehicles. The estimator does the quotation, the client then submit it to insurance or excepts it. The vehicle is booked in and repair. The invoice is paid by the insurance company or Client directly. Stock of paint and parts are purchased as and when needed.
How are the clients attracted to the business?
The business is well known and Insurance companies refer clients to the business.
What Advertising/Marketing is carried out?
Very little to no marketing has been done.
Does the business have any contract work?
The business has no contract work but work is referred to them through Insurance companies.
What competition exists?
There are a number of panel beaters in the area.
What are the seasonal trends?
There use to be seasonal trends with winter being a bit quite and summers busier. Lately it has not been the case.
Is the business VAT Registered?
What VAT documentation is on file?
VAT returns are avialable.
Are there up-to-date Management Accounts available?
Yes up and till February 2021
What Balance Sheet and Income Statements are available?
Feb 2021 is available.
What percentage of the business is cash/credit?
80% of business is on Credit 20% of business is Cash.
What is the age analysis of the debtors book?
The debtors book is between 7 and 30 days.
How could the profitability of the business be improved?
Finding suppliers with low prices will decrease cost of sale and boost profits.
Is Seller finance available and for what amount?
The seller will not consider any financed transaction.
What is the total staff complement?
22 staff members are employed.
Do any receive special perks or incentives?
No just standard MIBCO regulations.
Are they on contract?
All staff are on standard MIBCO contracts.
Do any have management potential?
There is a manager in place which handles some of the aspects of the business.
How involved is the Owner in running the business?
The Owner is involved in the business on a daily basis.
When does the current lease end?
The property will form part of the sale of the business and therefore is no lease agreement.
What are the trading hours?
Monday - Friday 07h30 - 17h00
What is the square meters of the business?
2100sqm yard 1000sqm under roof
Do you require a licence?
No licence is required.
What are the main assets of the business?
The poperty and equipment with vehicles.
Are any items not included in the sale?
The owners vehicle
What is their overall condition?
All the equipment and vehicles are in great working condition.
Do any require repairing?
No repairs are required, just regular maintenance.
How have they been valued ?
Second hand value
Which assets are on lease/HP and with whom?
There are no Assets on lease
Are they presently insured?
The business is well established and has a reputable record The business is registered with most Insurance Companies and Vehicle Manufacturers.
Knowledge of the industry will be an advantage.
More marketing will increase turn over. To get accreditation with all the insurance companies will increase turn over.
What is the reason for the sale?
The seller is looking into other industries as he has been on the Auto repair industry for the last 20 years
Why is this a good business?
The business is well established and well known with most insurance company.
What is the price plus stock and the profit?
The price including stock and property is R14 500 000.00 with an average net profit of R306 902 per month. The value of the Business R11.500.000,00 Property value R3.500.000,00
Annual Turnover Amount between R 500 thousand and R 6 million