Fully describe the business's activities?
A specialized Fitness & Training program Technology driven
How long has the business been established?
The business has been established since 2014
How long has the owner had the business?
The owner has had the business for 2 years now.
How does the business operate on a daily basis?
The business has fixed times booked for Fitness classes during the whole day.
How are the clients attracted to the business?
Social media Head office advertisements Magazines Website
Does the business have any contract work?
Yes, clients sign a membership agreement
What competition exists?
Body tech - more of less similar +- 10km away. No real comparison
What are the seasonal trends?
Is the business VAT Registered?
No this business is not registered for VAT
Are there up-to-date Management Accounts available?
Yes available on request
What percentage of the business is cash/credit?
What is the age analysis of the debtors book?
No debtors book, this is on a month to month basis
How could the profitability of the business be improved?
Sales of contracts / agreements can be driven
Is Seller finance available and for what amount?
What is the total staff complement?
+- 5 staff members
Give a breakdown of staff/ functions/ length of service?
Owner Managed Staff - trainers, salaried
Do any receive special perks or incentives?
There are sales incentive on sales of contracts / agreements
Are they on contract?
Do any have management potential?
Yes, two employees
How involved is the Owner in running the business?
The owner is involved full time in the business
When does the current lease end?
The lease agreement is a term of 5 years, with 3 years left on this agreement
Is there an option of renewal & what period?
Yes a renewal option is available
What is the annual escalation %?
The annual escalation is 7%
What are the trading hours?
Mondays - Fridays : 05:30 - 20:00 Saturdays : 07:00 - 14:00
What is the square meters of the business?
148 square meters
Who is the Owner/Landlord?
M - T Development
Is a copy of the lease available?
Yes, available on request
Do you require a licence?
No (Franchise agreement)
What lease deposit and/or other surety is required?
Yes 2 months deposit is required.
What are the main assets of the business?
Training Equipment Back-up Battery system
What is their overall condition?
Do any require repairing?
How have they been valued ?
Purchase price less depreciation
Which assets are on lease/HP and with whom?
Are they presently insured?
Yes, insurance in place
No direct competition close by Strong brand Affluent market Franchise does advertising
Staff turnaround quite high
More marketing. Extra rental income R3000 per month from tanning booth
May be to costly for certain clients
What is the reason for the sale?
Why is this a good business?
No debtors Affluent market Extra income from tanning booth
What is the price plus stock and the profit?
R1 485 000
Annual Turnover Amount between R 500 thousand and R 6 million