Fully describe the business's activities?
1- The business is a very well established florist.
How long has the business been established?
The business has been established since 2006.
How long has the owner had the business?
2- The current owner of the business has owned and operated the business since 2010.
How does the business operate on a daily basis?
The business operates on a daily basis by supplying from a highly visible retail store flower arrangements and gift parcels .the business caters for wedding venues, hospitals and the general public. The business besides its daily walk in clients has due to its long establishment and reputable service supply reputation has supply agreements with businesses and doctors rooms to supply weekly fresh flowers. The business is also contracted to net a net florist agent through whom they enjoy a regular monthly income.
What is the total staff complement?
The business operates with 2 staff and the owner. The staff is on contract and have been with the business for over 10 years. and are skilled in the daily operations of the business.
When does the current lease end?
The current lease has from 2018 2 more years to run and has an option to renew. The annual escalation is 10%. The prospective new owner based on their acceptance as a tenant by the landlords will be offered either a cession of the current lease or will be requested to sign a new lease. The landlords will require a 2 months deposit as well as the first monthâs rental upfront. The amount that should be budgeted for here is around R 60,000 and then some working capital for stock of around 10,000. The business is afforded a prime location with an abundance of foot traffic.
What are the main assets of the business?
The main assets used in the business are the flower buckets, the shelving, the computer, the service counter and work bench. As the business caters flowers for weddings and functions it also has a stock / assets of decor for these functions. There is a full asset list on file of the assets that are included in the purchase price and sale of the business. All the assets as seen on the asset list are fully paid for and are the unencumbered property of the seller. There is a delivery vehicle which the seller has newly purchased for use in the business however this vehicle is not included among-st the assets nor the sale and purchase price of the business. Should the prospective new owner wish to purchase the vehicle from the seller directly them this is a possibility. The vehicle is still on HP.
The overview of the business
The business is profitable .It has audited financials for perusal by any serious financially qualified buyer .It operates under a trust. The seller is the sole owner of the trust. The business has over the years established itself a solid reputation and offers profitable performing platform of reliable service, quality and delivery .There is good growth and extra earning opportunity within the business as the seller has not marketed or advertised the business or its services. The business caters flowers for functions and weddings. It has solely enjoyed and generated a profitable income from its visibility, strong word of mouth referrals and long-time service supply understandings. The seller is selling due to personal issue.
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Annual Turnover Amount between R 500 thousand and R 6 million