Sectors / Category

Annual turnover

|
  • Mandate: 33785
  • Added: 13 Jan 2020
  • AFS
  • 613

Leading Escape Room Business

KwaZulu-Natal, Durban
613
Mandate 33785
Added 13 Jan 2020
R 995,000* ZAR
Stock: R 0
Assets: R 77,680
R 37,426 ZAR
Nic Nortje
(PRINCIPAL)
Aldes Prestige
KwaZulu-Natal, Hillcrest
KwaZulu-Natal, Hillcrest
Summary

Latest in fun entertainment for businesses, families and friends, this is a leading Escape Room business with multiple rooms and themes, low overheads and good margins. Owner-managed.

Leading Escape Room  Business
SELLING PRICE AFS
R 995,000* ZAR
Stock: R0
Assets: R77,680
R 37,426 ZAR
Summary

Latest in fun entertainment for businesses, families and friends, this is a leading Escape Room business with multiple rooms and themes, low overheads and good margins. Owner-managed.

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Fully describe the business's activities?
This is a leading Escape Room Business - the latest in corporate and individual fun sweeping the world. We provide exceptional immersive adventures where groups of between 2 and 6 people explore a room for hidden compartments, solve puzzles and try to escape before time runs out. Quirky and fun for participants - ideal corporate team-build or family fun day out.

How long has the business been established?
Since September 2017

How long has the owner had the business?
Since September 2017

How does the business operate on a daily basis?
We utilize a booking system; all games are booked in advance and we do not currently accept walk-in clients. This could potentially be changed with a new owner. Staff provide an introduction to the adventure and get the teams going. The participants are monitored and assisted during the game, and once the game is complete – photos are taken, and a post-game discussion is held.

What Advertising/Marketing is carried out?
We have a broad advertising strategy which includes mail drops, pamphlet distribution, newspaper, magazine and online marketing.

Does the business have any contract work?
No

What competition exists?
At present, none.

What are the seasonal trends?
We are busier during school holidays, and Christmas.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Complete from date of inception

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

What Balance Sheet and Income Statements are available?
Complete from date of inception.

What percentage of the business is cash/credit?
90% of payments are made via credit card/online, before or at the event, thus no outstanding debtors.

How could the profitability of the business be improved?
Increase the size of the premises and increase the number of rooms. As we no longer have competition, we will be working on increasing our pricing too and streamlining staffing for optimum utilisation.

What is the total staff complement?
5

Give a breakdown of staff/ functions/ length of service?
General Manager, 2 Game Masters, a night shift Manager and a cleaner.

Do any receive special perks or incentives?
Friday lunch. We also provide a bonus for reviews (implemented December 2019) and a year-end bonus.

Are they on contract?
Yes

How involved is the Owner in running the business?
The owners take care of marketing, maintenance and general email queries. The Game Masters run the day to day activities.

When does the current lease end?
September 2020

Is there an option of renewal & what period?
Yes

What are the trading hours?
9am to 9pm

What is the square meters of the business?
125sqm

Who is the Owner/Landlord?
Landlord

Is a copy of the lease available?
Yes

Do you require a licence?
No

What lease deposit and/or other surety is required?
Lease deposit R88392.03

What are the main assets of the business?
Game equipment and decor.

What is their overall condition?
Good

How have they been valued ?
Not valued

Are they presently insured?
Yes

Strengths?
1. Excellent customer service, we have been rated the top escape room business in Durban – and have received a TripAdvisor Certificate of Excellence. We are also rated the top activity in Umhlanga on TripAdvisor. 2. Exceptional escape room experiences, our rooms have been professionally put together and have an excellent flow – using high quality locks and puzzles. 3. Excellent staff complement – our mix of staff work well together and are excellent with our customers.

Weaknesses?
We would love to leverage the larger team building groups, but as our space is rather small and we do need bigger premises. We have requested first option on both of our neighbours and will be expanding once we have the option.

Opportunities?
We received loads of requests for partnerships/franchising – from within Durban to CPT and Pretoria. A new owner could consider branching out. With a winning marketing strategy and our current rooms – there is a market for expansion throughout SA.

Threats?
Competition – though competition in our industry is good. Multiple companies can refer clients to each other and assist with education efforts explaining what an escape room is. Load shedding

What is the reason for the sale?
Emigration

Why is this a good business?
It’s a fun, easy and light-hearted business – customers visit from all over the world and are there to have fun. No complicated supplier issues, accounts or debtors – all payments are made upfront. Easy to manage and would suite someone with some creative flair and imagination. In addition, due to our location, we have a constant flow of new clients – as well as teambuilding groups who go for drinks after the game at one of the many bars and restaurants below us. The business has been profitable since day one and is continuing to grow.

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FRANCHISE DETAILS

Aldes Prestige

1 members
8 active mandates
KwaZulu-Natal , Hillcrest
4 Plantations 47 Shongweni Road
Hillcrest
4016

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