Fully describe the business's activities?
This is a plumbing business. They offer 24hr Emergency Service and other services include blocked waste and sewer lines, burst and new geysers installations, leaking taps and toilets, bathroom and kitchen renovations, new bathroom and kitchen installations and general plumbing maintenance.
How long has the business been established?
Established in 2012.
How long has the owner had the business?
The Owner started the business.
How does the business operate on a daily basis?
On a daily basis the business will start with the admin to be done, such as check for any overnight payments and allocate to invoices. Then attend to work that is allocated/ planned for the day. After the coworkers been pick up they visit the the plumbing suppliers and collect the material needed for each job for the day. Throughout the day calls will be take for any future business.
How are the clients attracted to the business?
The business attracts customers with friendly, prompt, reliable service coupled with knowledge, skills, professionality and competitive prices.
What Advertising/Marketing is carried out?
The business is a member of Business Networking International and actively advertising/ Maron the website, Facebook, Linkedln, Instagram and Twitter. The business send out a advertising email once a month to stay in touch with customers.
Does the business have any contract work?
The business has no contracts as such but a long-standing relationship with its client base.
What competition exists?
Plumbing business will always have competition, but there is no shortage of work.
What are the seasonal trends?
Requests for plumbing services is constant, but during winter work can increase due to burst geysers and pipes.
Is the business VAT Registered?
The business is not VAT Registered.
Are there up-to-date Management Accounts available?
Up-to-date Management Accounts up to Aug 2019 is available.
What Balance Sheet and Income Statements are available?
Profit and Loss Statements for March 2018 to 2019 is on file.
What percentage of the business is cash/credit?
The business does not allow credit and gets payment on completion of the work mainly by EFT.
How could the profitability of the business be improved?
The profitability of the business could be improved by having more vehicles on the road and branching out into some of the following Solar Systems, Heat pumps, Gas Plumbing, Gas Geysers, Leak Detection Equipment, Camera inspections and Irrigation system installations.
Is Seller finance available and for what amount?
No vendor finance will be considered.
What is the total staff complement?
The total staff complement is two with a part time assistant been employed as required.
Give a breakdown of staff/ functions/ length of service?
The staff is the Owner and a Assistant that is able to install geysers, drainage systems, handle any maintenance and renovations and construction issues. The Assistant has 2 years service with the company.
Do any receive special perks or incentives?
Every so often lunch and occasionally some extra money on the bigger jobs.
Are they on contract?
The plumbing assistant is permanently employed.
How involved is the Owner in running the business?
The owner is hands-on from taking the first call, lining up the quotation, carrying out and signing off on the work, to invoicing, marketing and overseeing all financial matters.
When does the current lease end?
The business has no premise the business is effectively run from the company vehicle.
What are the trading hours?
Weekdays 08:00 - 16:30 with the occasional emergency over a weekend.
Do you require a licence?
The business does not require a licence, but the business' unique trademark have to be renewed in a few years time.
What are the main assets of the business?
The assets of the business is a fully setup VW Caddy, a very old Venter trailer, safety equipment and some hand and power tools
Are any items not included in the sale?
One set of hand tools.
What is their overall condition?
The overall condition of the assets is good.
Do any require repairing?
None of the assets require repairing.
How have they been valued ?
The Owner valued it at current secondhand market value.
What are their settlement amounts?
The settlement on the vehicle is R98 000.00
Will Seller settle or Buyer to take over?
The seller will consider a reduced offer to the value of the settlement amount. If that is not the preferred choice of the purchaser, the seller will settle.
Are they presently insured?
The vehicle is insured.
- Business is well established with a reasonable base of repeat customers. - Well advertised on various marketing platforms and social media. - Plumbing for the residential market is in demand daily.
- The company is at a stage that it needs capital investment to grow to the next level.
- The business has with its customer base potential to grow with additional vehicles on the road.
- Households are strapped for cash and hold out on preventative maintenance. The upside to it is that they have to call for help once they have a crisis which will occur sooner than later because of preventative maintenance being neglected.
What is the reason for the sale?
The seller is originally from the U.K and wishes to return there. His arrangements are well on their way.
Why is this a good business?
This is a good , because everyone needs a plumber and this is a well run business with a very loyal customer base.
What is the price plus stock and the profit?
The selling price is R 800,000.00 stock R 1,500.00 included with an average monthly nett profit of R34,436 pm for the last 12 months.
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