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Annual turnover

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  • Mandate: 33762
  • Added: 09 Dec 2019
  • AFS
  • 657

Wedding and Function Planning Business in Bloemfontein

Free State, Bloemfontein
657
Mandate 33762
Added 09 Dec 2019
R 2,640,000* ZAR
Stock: R 0
Assets: R 478,395
R 39,148 ZAR
Pierre De Klerk
(PRINCIPAL)
Aldes Bloemfontein
Free State, Bloemfontein
Free State, Bloemfontein
Summary

Wedding and Function Planning Business in Bloemfontein
SELLING PRICE AFS
R 2,640,000* ZAR
Stock: R0
Assets: R478,395
R 39,148 ZAR
Summary

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Fully describe the business's activities?
This established business is a successful event planning, production and management company. They specialize in weddings, corporate hospitality and festive events. The business is committed to quality and efficiency, having successfully created a strong track record and wealth of industry knowledge over the past 25 years. The business offer an extensive range of event decor for hire, including: Tables, Chairs, Cutlery, Crockery, Table cloths, Runners, Serviettes, Chair covers, Vases, Candle holders, Candles The business specializes in themed decor and can arrange an event with a theme ranging from Moroccan through to contemporary, branded and tribal African.

How long has the business been established?
The business has been established for 25 years

How long has the owner had the business?
The owner has the business for 25 years

How does the business operate on a daily basis?
Enquiries are received from the website via email and telephone. Every client receives personalized attention to ensure their event is created and managed to the highest standards. The business carries a large volume of stock to create themed events in-house.

How are the clients attracted to the business?
Clients are attracted through word of mouth and the website.

What Advertising/Marketing is carried out?
BNI

Does the business have any contract work?
No

What competition exists?
This business is one of the most established and respected businesses and is the leading business of its kind. Other smaller companies exist however they work together to assist each other.

What are the seasonal trends?
There tends to be more sales during the months of October - February

Is the business VAT Registered?
Yes the business is registered for VAT

What VAT documentation is on file?
Yes, available on request

Are there up-to-date Management Accounts available?
Yes, August 2019, available on request

What Balance Sheet and Income Statements are available?
Yes, February 2019, available on request

What percentage of the business is cash/credit?
90% cash 10% credit

What is the age analysis of the debtors book?
Available on request

How could the profitability of the business be improved?
The business needs fresh energy and new marketing initiatives. The website can be updated.

Is Seller finance available and for what amount?
No

What is the total staff complement?
A total of 12 permanent staff members

Give a breakdown of staff/ functions/ length of service?
The staff members consist of: 2 x Owners 1 x Manager 9 x General Workers

Do any receive special perks or incentives?
Yes, they receive a 13th cheque

Are they on contract?
Yes

Do any have management potential?
Yes

How involved is the Owner in running the business?
The owner is 100% involved in the business

When does the current lease end?
The current lease ends in June 2020

Is there an option of renewal & what period?
Yes renewal option is available

What is the annual escalation %?
The annual escalation is prime + 1%

What are the trading hours?
Mondays to Saturdays 08:00 - 17:00

What is the square meters of the business?
900 square meters

Is a copy of the lease available?
Yes, available on request

Do you require a licence?
No

What lease deposit and/or other surety is required?
Yes deposit is required

What are the main assets of the business?
The main assets of the business is the stock to be rented out

Are any items not included in the sale?
No

What is their overall condition?
Very good

Do any require repairing?
No repairing is needed

How have they been valued ?
Accountant / lawyer valuation

Are they presently insured?
Yes insurance in place

Strengths?
Well established and long-time operating in Bloemfontein. Well trained staff and years of experience in the wedding and function equipment industry. Huge office space with a very large stock.

Weaknesses?
Owners want to retire. Needs new / fresh energy.

Opportunities?
Marketing campaigns as the current owners only operated on word of mouth and face book. Diversification and the introducing of more products and services.

Threats?
Economic circumstances in SA and also the number of competitors in the market. Barrier of entry low.

What is the reason for the sale?
The client is retiring

Why is this a good business?
This business has been awarded with the BEST BUSINESS IN BLOEMFONTEIN AWARD 2019 Profitable and the potential to expand rapidly. Well established and operating in Bloemfontein for years.

What is the price plus stock and the profit?
R2 400 000.00 - Selling price R 240 000.00 - Commission

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FRANCHISE DETAILS

Aldes Bloemfontein

1 members
11 active mandates
Free State , Bloemfontein
Street
Bloemfontein
9701

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