Fully describe the business's activities?
The business is a Panel Beater shop and does Re-furbishing of cars and trucks. The business is an approved repair agent for insurance companies and do work for private and farmers in the area.They deliver fully spray painting and panel beating services. A Towing service is also offered to clients. Straitening of chassis(minor) and bodywork are also done.
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The Owner opens up in the morning and locks up in the afternoon.Normal working hours are applicable. The Owner or one of the personnel collects or accept vehicles after fully checked at time of admission and when finish delivers the vehicle if not collected by the client. The vehicles move through the process for repairs,spraying etc mechanical and suspension work is done on site, otherwise its sent out for repairs, if necessary. Clients are kept informed of the progress made with the repair of the vehicles. The Owner is responsible for the checking of the quality of work done and Road testing on all vehicles.
How are the clients attracted to the business?
By Advertising in local magazines and by word of mouth. Contracts with Insurance companies referals .
What Advertising/Marketing is carried out?
In the Bronberger magazine and local papers.
Does the business have any contract work?
Yes, with Insurance Companies
What competition exists?
None in the area nearby.
What are the seasonal trends?
How did the Covid-19 pandemic impact the business turnover / daily operations?
The business was closed two and a half months. The half month since opening,it was a monthly record of turnover.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
No steps could be done but the work was delayed and needs to be done since starting after Covid-19.
Is the business VAT Registered?
Yes, it is VAT registered.
What VAT documentation is on file?
The VAT returns are of file
Are there up-to-date Management Accounts available?
The Management accounts till February 2020 are abailable
What Balance Sheet and Income Statements are available?
Till 29 February , 2020.
What percentage of the business is cash/credit?
60 % Cash and 40% credit
What is the age analysis of the debtors book?
The ageing of debtors are 30-60 days.
How could the profitability of the business be improved?
A credit card machine is needed. More systems can be implemented to streamline and control job flow.
Is Seller finance available and for what amount?
What is the total staff complement?
4 Full time laborers , Part time Accountant / Administrator, All rounder craftsman and the owner managing the business.
Give a breakdown of staff/ functions/ length of service?
There are the Painter, Polisher, Panel Beater stripper, Sprayer and general crafts man doing Hail dent Removal ect.
Do any receive special perks or incentives?
Are they on contract?
Contracts on file for employees.
Do any have management potential?
Yes there is a person showing management potensial.
How involved is the Owner in running the business?
The owner is daily involved in the running of the business.
Any special arrangements for the staff related to the Covid-19 pandemic?
They must follow the necessary protocol that is applicable.
When does the current lease end?
The Lease agreement is on a year to year basis that ends 31 December 2020.Their is a good relationship with the Landlord for many years when it comes to renewal of rental agreements.
Is there an option of renewal & what period?
Yes there is an opyion to renew.
What is the annual escalation %?
6 % as per Agreement.
What are the trading hours?
The trading hours are from 07h30 till 17h00 week days.
What is the square meters of the business?
Approximately 287 square meters
Is a copy of the lease available?
Yes , it is available
Do you require a licence?
What lease deposit and/or other surety is required?
One Months deposit is applicable
What are the main assets of the business?
All equipment that is needed for the Panel Beating business for example : 1 x 4 Post Lift -fog,1 x Korek System and Pulling Assesors, Mobile Jack,Engine crane,Max Meyer Mixing bank Scale computer & colour cards, Polishing system,and many more .
Are any items not included in the sale?
Personal office furniture of the accountant.
What is their overall condition?
Do any require repairing?
Smaller items needs repair and items are repaired on an ongoing basis.
How have they been valued ?
They have been valued at market value.
Which assets are on lease/HP and with whom?
There are a Telephone contract in place.
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Seller can take the rental agreement of the telephone over
Are copies of agreements available?
Yes, an agreement is available
Are they presently insured?
Yes, it is insured
There is a constant flow of business and the staff is reliable . A high standard of Quality work is maintained in the factory. No formal competition nearby.The Owner is willing to stay on for a period of 14 days after sale of business.
To maintain the Quality of work. To make use of social media and optimize internet usage. To implement credit card facilities.
The business is expandable. A higher level of spray booth can improve work out put and give a higher Quality of finish and more volumes.
Going into a stage 5 Covid restriction again.
What is the reason for the sale?
The Owner has health problems.
Why is this a good business?
This is the only business in town and puts Quality fist
What is the price plus stock and the profit?
The price is R 1 415 400 Plus stock of R 209 600. Total R 1 625 000.
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