Fully describe the business's activities?
This business's main activity is panel beating of vehicles and truck repairs, together with customizing & rebuilds.
How long has the business been established?
This business was established in 1999.
How long has the owner had the business?
The owner has had the business since establishment.
How does the business operate on a daily basis?
Owner or the manager opens up at 06:30-07:00. All work from the previous day is written up. Tasks are allocated to managers, such as body filling, panel beating, spray painting, stripping & fitting, polishing & car washing work is allocated to workers. The receptionist follows up on outstanding orders, quotations & parts.
How are the clients attracted to the business?
The clients are attracted through word of mouth, insurance referrals & social media.
What Advertising/Marketing is carried out?
No advertising is carried out at this stage. This business receives it work by word of mouth & social media.
Does the business have any contract work?
Yes, Europcar Namibia, AMH approvals & all insurance companies.
What competition exists?
There are many panel beaters, however this business ranks within the top 3 in Namibia.
What are the seasonal trends?
The busiest months are June to August and October to November.
Is the business VAT Registered?
Yes, this business is VAT registered.
What VAT documentation is on file?
Yes, all VAT documentation is available on file to approved buyers.
Are there up-to-date Management Accounts available?
Yes, there are up to date management accounts available on file to approved buyers.
What Balance Sheet and Income Statements are available?
Balance Sheets and Income Statements are available from the last 5 years to approved buyers.
What percentage of the business is cash/credit?
30% of the business is cash and the remainder is credit.
What is the age analysis of the debtors book?
The ageing runs around 30 days.
How could the profitability of the business be improved?
The profitability can be improved with marketing.
Is Seller finance available and for what amount?
No, seller finance is not available.
What is the total staff complement?
There are total of 34 employees.
Give a breakdown of staff/ functions/ length of service?
There are 3 managers in place, who have been with this business from between 3 to 15 years. 2 x Receptionists 2 x Cleaners 2 x Spray Painter 3 x Tapers 3 x Polishers 4 x Strip & Fitters 4 x Car Washers 10 x Panel Beaters 1 x Debtors, Creditors & HR Clark
Do any receive special perks or incentives?
Special perks or incentives are given on tenders or large resprays.
Are they on contract?
All employees are on contract .
How involved is the Owner in running the business?
The owner is on the floor & directly involved with most aspects of the business, running through the managers who report to the owner. The owner is away 1 week a month and the managers are capable of running the business whilst the owner is away.
When does the current lease end?
The current lease runs until September 2021.
Is there an option of renewal & what period?
Yes, there is an option for renewal for 5 years at a time.
What is the annual escalation %?
The current escalation is at 8%, however is negotiable.
What are the trading hours?
The trading hours are Monday to Friday 07h30 to 13h00 and 14h00 to 17h00.
What is the square meters of the business?
The total area of the business is around 2400 m2.
Is a copy of the lease available?
Yes, a copy of the lease agreement is available to approved buyers.
Do you require a licence?
No, the standard municipality fitness certificate is all that is needed.
What lease deposit and/or other surety is required?
A deposit of one months rental is required.
What are the main assets of the business?
The main assets of the business is the workshop equipment and machinery.
Are any items not included in the sale?
Yes, excluded and reversed from the balance sheet are the owners private vehicles.
What is their overall condition?
All assets are in good condition.
Do any require repairing?
Yes, currently 2 x dent pullers require repairing and will be repaired by the owner before hand over of the business.
How have they been valued ?
All assets are calculated at business value: between the replacement value and the new value, depending on the conditions and repairs required.
Which assets are on lease/HP and with whom?
There is 1 x Saima Spray Booth on HP with Bank Windhoek.
What are their settlement amounts?
Currently as at February 2020 the settlement amount is approximately N$ 100 000.00.
Will Seller settle or Buyer to take over?
The seller will settle the HP outstanding.
Are copies of agreements available?
Yes, however the current owner will settle these agreements.
Are they presently insured?
Yes, all assets are insured.
This established business has many loyal customers who have continued to return over the last 21 years. Honesty & craftsmanship is what the current owners strive for and this in return gives this business an excellent name in the vehicle industry.
The availability of stock is at times a huge frustration and this in turn delays deadlines.
Striving towards Toyota manufacturing repair approval. This will have a huge positive impact on the business in the future.
Poor economical state of the country and of course the availability of parts.
What is the reason for the sale?
The owner has been in the field for over 21 years and is looking at other adventures locally or abroad.
Why is this a good business?
Well established & well known business all over Namibia with a very good name in the vehicle sector. Well established customer base with a lot of room to expand.
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