Fully describe the business's activities?
Laundromat & water purification business, operated by the owner with an assistant 5 days of the week, from a stand alone shop on a main road within a nice mid-South Coast town. The assistant does most of the washing & ironing. The water purification is of municipal water through reverse osmosis at a max of 2 000 L p.day, but presently only some 2 300L per month at some R1.50 L is sold.
How long has the business been established?
10 years, with the last year with the present owner who is relocating to another Province.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Only hand written accounts by the old couple, which originate from the hand written receipts for cash sales (85%) vs eft's from the 2 main business clients. The shown NP of R 279 000 pa off a turnover of R 538 000, includes the owners benefits - ie this will be the total amount for the new owner to decide on whether to owner operate the business & take the profit or pay a manger etc The financial year was up to Feb 2020, with the first 3 months having been under the previous owner and are assumed vs the actual figures of the present owner, thereafter.
What is the total staff complement?
One assistant (full-time employee) does most of the washing & ironing
A stand alone shop of 180 m2, on a main road within a nice mid-South Coast town, at R8 800pm incl VAT from the 1 June 2020, with 10% escalation.
What are the main assets of the business?
Various washing machines (6) & dryers (6), irons & roller iron, water purification system, scales, fridges, freezers, till, tables, chairs. All are in good condition 2nd hand cost of some R 124 000, but forced sale price of some R50 000 - with replacement cost towards R200 000.
Long established in same shop, profitable, proven All necessary equipment with excess capacity easily manageable
Only one assistant so owner must work each day or employ a manager
Improve the shop layout/aesthetics market services & products especially to businesses & holiday flats PUSH water sales to businesses/hotels etc in the area as the plant is capable of being utilised so much more
Another competitor opens close by
What is the reason for the sale?
Seller relocating to another Province
What is the price plus stock and the profit?
The Sale Price is R330 000, excl any stock on hand, with a Net Profit of R279 000 over a 12 month period off a turnover of some R538 000.
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