Sectors / Category

Annual turnover

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  • Mandate: 32681
  • Added: 19 Oct 2021
  • AFS
  • 188

Well Established and Profitable Tool Hire Business

Eastern Cape, Eastern Cape and other areas
188
Mandate 32681
Added 19 Oct 2021
R 2,850,000* ZAR
Stock: R 0
Assets: R 972,820
R 72,329 ZAR
Willem Smuts
(PRINCIPAL)
Aldes Algoa
Eastern Cape
Eastern Cape
Summary

Established for numerous years, profitable and manager run. This business is well equipped for the DIY enthusiast to assist with home improvements, revamps or any other tasks requiring specialized tools. Netting proceeds from operations in excess of Rxxxxx per annum and showing growth of 39% in sales as compared to previous year. this business is well managed, profitable and priced to sell.

Well Established and Profitable Tool Hire Business
SELLING PRICE AFS
R 2,850,000* ZAR
Stock: R0
Assets: R972,820
R 72,329 ZAR
Summary

Established for numerous years, profitable and manager run. This business is well equipped for the DIY enthusiast to assist with home improvements, revamps or any other tasks requiring specialized tools. Netting proceeds from operations in excess of Rxxxxx per annum and showing growth of 39% in sales as compared to previous year. this business is well managed, profitable and priced to sell.

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Fully describe the business's activities?
Established in 2014, this DIY Tool Hire company is well equipped to lease out all equipment required for building improvements, renovations, and day-to-day maintenance. The main business activity is renting out of equipment which ranges from Heavy-duty breakers to the smallest drill. The equipment is maintained by a full-time mechanic and the working condition of the equipment is guaranteed. This business is also an accredited Makita agent.

How long has the business been established?
Established since 2014

How long has the owner had the business?
The owner started the business.

How does the business operate on a daily basis?
The doors open for trading 7:30 to 4:30pm Monday to Fridays. The manager, salesperson, and mechanic are full-time employees and available to assist with any queries or advice which might be required. Delivery and return of machinery and equipment can also be arranged. The business is also accredited Makita Service Agents

How are the clients attracted to the business?
By website advertising, brochures, discounted deals with builders and construction businesses and word of mouth advertising.

What Advertising/Marketing is carried out?
Web site, brochures, social media and word of mouth advertising.

Does the business have any contract work?
No contact work, but many re-curing customers. Big projects on the go so turnover is expected to be sustainable.

What competition exists?
Very limited competition from Hardware stores.

What are the seasonal trends?
constant turnover from month to month with sustainable growth year to year.

Is the business VAT Registered?
Yes, the business is VAT Registered.

What VAT documentation is on file?
Every Bi-monthly returns as requested by SARS.

Are there up-to-date Management Accounts available?
Actual sales and budgeted figures are available. February 2019 Annual Financial Statements available. .

What Balance Sheet and Income Statements are available?
Annual Financial Statements for 12 month period to February 2019 are available.

What percentage of the business is cash/credit?
a deposit is accepted on collection of the tool, on return balance of invoice is payable.

Is Seller finance available and for what amount?
The seller is approachable for terms, provided a substantial deposit and favourable interest rate on balance outstanding is offered.

What is the total staff complement?
6 staff members

Give a breakdown of staff/ functions/ length of service?
1 Manager Owner Counter Salesperson 4 years 2 Technicians: 2 years 1 Cleaner 1.5 year service ! Admin and Accounts person 4 years

Are they on contract?
All staff members on Permanent Contract

Do any have management potential?
The Counter Sales Person has excellent managerial skills.

How involved is the Owner in running the business?
60% involved.

When does the current lease end?
The current lease ends 30 September 2022

What are the trading hours?
The trading hours are 7:30 am to 4:30 pm Mondays to Fridays. 8 am to 1 pm on Saterdays.

Do you require a licence?
No licence is required

What lease deposit and/or other surety is required?
A formal contract will be negotiated with the landlord and 1 months rental deposit can be expected to payable.

What are the main assets of the business?
The main asset of the business is its goodwill and reputation for excellent service. a list of assets and equipment fill be forwarded to qualified buyers.

Are any items not included in the sale?
All items on the list are included in the sale

What is their overall condition?
Excellent working condition.

Do any require repairing?
No repairs required at this stage. If any equment becomes to expensive to maintain, they are written off and replaced with.

How have they been valued ?
The equipment has been valued at a fair market related value.

Which assets are on lease/HP and with whom?
HP on Ford Ranger with Wesbank HP on cherry picker with Wesbank ( HP come to end in June 2019)

What are their settlement amounts?
To be Advised

Will Seller settle or Buyer to take over?
To be Advised

Are copies of agreements available?
Yes, copies are available.

Are they presently insured?
They are insured

Strengths?
The only business of its type in the town. With a huge public sector, 4 high schools , 4 junior schools a training academy, hospital, many residential homes with a historical background in need of constant repairs resulting in a huge demand for the services this business offers This business is priced to sell and offers an ideal opportunity for someone with a passion for his industry.

Weaknesses?
Very limited competition from builders that have own equipment, but do not stock construction machinery. Cement mixers, cherry pickers, abandant scafholding etc)

Opportunities?
This business has a guaranteed future for the right buyer. this is an ideal opportunity to enter this market.

Threats?
This business is compliant in every respect and therefore to not see any threats for the business.

What is the reason for the sale?
Owner has other interests.

Why is this a good business?
The town is an economical growth point with many projects planned for the foreseeable future. The town is 4th oldest Municipality in South africa, with many historical buildings with high maintenance levels. This business's turnover is sustainable for the foreseeable future.

What is the price plus stock and the profit?
This business produced an excess from operations ( profit before owners remuneration, depreciation, and non-operational expenses) of R867 000 over the last 12 months. The asking price is R2 850 00

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AGENCY DETAILS

Aldes Algoa

1 members
15 mandates
Eastern Cape
16 Frykenhuis Street, Summerstrand
6001

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