Sectors / Category

Annual turnover

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  • Mandate: 32628
  • Added: 14 Nov 2018
  • AFS
  • 217

IT Store and Internet Cafe

Western Cape, Overberg & Breederiviervallei
217
Mandate 32628
Added 14 Nov 2018
R 2,260,000* ZAR
Stock: R 400,000
Assets: R 503,000
R 25,604 ZAR
Rodney Willoughby
(PRINCIPAL)
Aldes Overberg
Western Cape
Western Cape
Summary

An IT Store and Internet Cafe offering a comprehensive range of products and services

IT Store and Internet Cafe
SELLING PRICE AFS
R 2,260,000* ZAR
Stock: R400,000
Assets: R503,000
R 25,604 ZAR
Summary

An IT Store and Internet Cafe offering a comprehensive range of products and services

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Fully describe the business's activities?
A one stop IT Shop and Internet Cafe providing computer, printer and peripheral sales, repairs and networking; printing, laminating, binding, fax, email and typing; signage design, vinyl decals, printed vinyl, banners, edge lit displays and more.

How long has the business been established?
21 years.

How long has the owner had the business?
12 years.

How does the business operate on a daily basis?
There is a full time manager overseeing daily operations. The business is open from 07h30 to 17h30, Monday to Friday and 08h30 to 13h00 on Saturday.

How are the clients attracted to the business?
The business is well known in the town with a prominent location. Weekly adverts are run in the local newspapers and there is good exposure via their website and xplorio.

What competition exists?
This is the only business of its type in the town.

What are the seasonal trends?
Business is steady throughout the year with peaks during holiday seasons.

Is the business VAT Registered?
Yes, all VAT documentation is on file.

Are there up-to-date Management Accounts available?
Yes.

What Balance Sheet and Income Statements are available?
Annual financial statements as at February 2018.

What percentage of the business is cash/credit?
50/50

What is the age analysis of the debtors book?
A clean debtors book running at 30 days.

Is Seller finance available and for what amount?
The seller is open to negotiation.

What is the total staff complement?
6 excluding the owner: Manager, designer, 3 technical assistants, 1 admin assistant.

Are they on contract?
As per labour legislation.

Do any have management potential?
There is a manager in place.

How involved is the Owner in running the business?
The owner attends to finance and administration from home with visits to the business as required.

When does the current lease end?
The owner also owns the business premises. A market related rental has been factored into the financial statements. The owner is willing to negotiate favourable lease agreement terms and is also open to an offer to purchase the premises.

What is the square meters of the business?
200 square meters.

Do you require a licence?
No.

What lease deposit and/or other surety is required?
To be negotiated.

What are the main assets of the business?
Computers, printers and peripheral equipment, shop fittings, furniture and fittings.

What is their overall condition?
All in good working condition.

How have they been valued ?
Owner's valuation of fair market value.

Which assets are on lease/HP and with whom?
A printer is on lease. It is anticipated that a new owner will take over the lease.

Strengths?
Excellent location. Broad range of products and services. Only business of this type in the town.

Weaknesses?
None perceived.

Opportunities?
Some attention to waste management in the signage and printing areas.

Threats?
None perceived.

What is the reason for the sale?
The owner wants to retire.

Why is this a good business?
This is a unique business in the town with a loyal customer base and generating good profits.

What is the price plus stock and the profit?
The selling price is R2.260 million inclusive of stock. The annual profit is R307 000.

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AGENCY DETAILS

Aldes Overberg

2 members
3 mandates
Western Cape
9 Lower Longmarket Street
7210

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