Sectors / Category

Annual turnover

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  • Mandate: 34021
  • Added: 16 May 2020
  • AFS
  • 267

B & B in central Knysna, ideal location for tourists and holiday makers

Western Cape, Garden Route
267
Mandate 34021
Added 16 May 2020
R 752,500* ZAR
Stock: R 2,500
Assets: R 430,000
R 6,603 ZAR
Noel Heath
(PRINCIPAL)
Aldes Triumph
Western Cape
Western Cape
Summary

Well established and centrally situated, this B&B offers comfortable rooms and fine breakfasts with favourable rates. Easy walk to Knysna water front and other tourist attractions.

B & B in central Knysna, ideal location for tourists and holiday makers
SELLING PRICE AFS
R 752,500* ZAR
Stock: R2,500
Assets: R430,000
R 6,603 ZAR
Summary

Well established and centrally situated, this B&B offers comfortable rooms and fine breakfasts with favourable rates. Easy walk to Knysna water front and other tourist attractions.

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Fully describe the business's activities?
B and B in central Knysna

How long has the business been established?
25 years

How long has the owner had the business?
6 years

How are the clients attracted to the business?
Agents, portals and walk-ins by nature of location

What Advertising/Marketing is carried out?
Trade Show representation, online advertising and limited printed advertising

Does the business have any contract work?
Yes, via tour operators

What are the seasonal trends?
Summer months are busy, predominately October through to Easter The winter months May to September are significantly quieter

How did the Covid-19 pandemic impact the business turnover / daily operations?
Full impact as currently in lock down

Is the business VAT Registered?
No

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

What percentage of the business is cash/credit?
90% payment by EFT and credit card Estimated 10% paid in cash

How could the profitability of the business be improved?
Reduction in wages after lock-down and an increase in marketing spend

What is the total staff complement?
7 full time with 2 part time

Give a breakdown of staff/ functions/ length of service?
General Manager Receptionist Night Manager Part time receptionists Cleaning staff

Are they on contract?
6 are employed and 2 contracted

How involved is the Owner in running the business?
Not in an operational role

When does the current lease end?
November 2024

Is there an option of renewal & what period?
Yes

What is the annual escalation %?
Subject to negotiation of a new lease

What is the square meters of the business?
Approximately 700 sq meters

What lease deposit and/or other surety is required?
1 Months rental

What are the main assets of the business?
Furniture and fittings Kitchen equipment

What is their overall condition?
Good...all are in good working order

Do any require repairing?
No

How have they been valued ?
Owners second hand value in region of R430K

Are they presently insured?
Yes

Strengths?
Location in town is excellent as close to main center, secure off road parking Well known with good reputation

Weaknesses?
Impacted by the current lock-down

Opportunities?
An Owner who was actively involved would reduce overheads and also be able to run the business more efficiently. Th new Owner should be prepared to accept the General Management function which will ensure the profitability of this business.

Threats?
Currently the unknown impact of the Covid 19 virus

What is the reason for the sale?
The Owner has been affected by a number of personal issues and wishes to relocate The Owner also plays no role in the daily operation so needs to have a General Manager for the business

Why is this a good business?
This business is suited to a hands on operator and would then trade very well Unfortunately due to a number of circumstances the current business Owner is not the operator which impacts heavily upon the profitability If the Owner took on the responsibility of General Manager, a large saving could be made that would impact the bottom line positively

What is the price plus stock and the profit?
Selling price is R750K Stock is low in the region of R2,500

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FRANCHISE DETAILS

Aldes Triumph

1 members
26 active mandates
Western Cape
8A Loerie Street, Bergsig
6529

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