Fully describe the business's activities?
Non-structural auto repairs and spray painting workshop for vehicles in Centurion
How long has the business been established?
The owners started their partnership in 1995
How does the business operate on a daily basis?
The business core activity and income is the repair of minor bumps and scratches on vehicles and quality spray painting. The hands on owners provide quotes for work, plan and organize the workshop and arrange for the delivery of vehicles.
How are the clients attracted to the business?
The business does work for car dealerships as many long standing customers. The established brand receives a lot of work through word of mouth referrals within the vehicle enthusiast circles. Work is performed for brands such as Mercedes-Benz, Land Rover and Jaguar
What Advertising/Marketing is carried out?
Well placed and neat advertising board in front of the workshop.
Does the business have any contract work?
No. Many repeat customers.
What competition exists?
Lots of smaller operators. Many panel-beating shops in Centurion.
What are the seasonal trends?
Fairly stable. The business closes for three weeks in December
How did the Covid-19 pandemic impact the business turnover / daily operations?
Business was closed during April and May.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
During June 2020 the workshop was sanitized and the business started operating again.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Quick Books provides a good breakdown
What Balance Sheet and Income Statements are available?
Profit and Loss Statements ending February 2020 is on file.
What percentage of the business is cash/credit?
Private clients pay cash. Motor Dealers and corporate clients have 30 day accounts
How could the profitability of the business be improved?
The business is over staffed for the current workload
Is Seller finance available and for what amount?
The Seller will not consider this option
What is the total staff complement?
13 staff members and two owners. Most staff have been with the business for more than 7 years
Give a breakdown of staff/ functions/ length of service?
1 x Receptionist 5 x Working in the stripping bay, preparation area and mixing room 4 x Working in the assembly area and polishing bay 1 x Qualified Spray painter 2 x General workers / assistants
Do any receive special perks or incentives?
Fixed salaries are paid in line with MIBCO regulations
Are they on contract?
Do any have management potential?
How involved is the Owner in running the business?
Owners are 100% involved in the running of the branches
What is the annual escalation %?
What are the trading hours?
Monday to Friday from 08:00 to 17:00
Is a copy of the lease available?
What are the main assets of the business?
Spray booth, compressor and specialized tools
What is their overall condition?
Do any require repairing?
No, serviced regularly every 3 months
Which assets are on lease/HP and with whom?
All paid for.
Are they presently insured?
Comprehensive insurance is in place
25 Year established business Excellent processes and procedures in place Trained and loyal staff Good location
Panel beating services can be added
What is the reason for the sale?
Both owners are in their mid fifties and are looking towards retirement
Why is this a good business?
Lots of repeat business from established dealerships and good margins
What is the price plus stock and the profit?
Asking price of R 3 080 000 plus stock of around R 50 000.
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