Sectors / Category

Annual turnover

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  • Mandate: 34040
  • Added: 01 Aug 2020
  • AFS
  • 517

Automotive Paint Repairs

Gauteng, Centurion
517
Mandate 34040
Added 01 Aug 2020
R 3,130,000* ZAR
Stock: R 50,000
Assets: R 780,000
R 146,950 ZAR
Ferdi van Greunen
(PRINCIPAL)
Aldes Head Office
Gauteng, Pretoria East
Gauteng, Pretoria East
Summary

Vehicle spray painting workshop

Automotive Paint Repairs
SELLING PRICE AFS
R 3,130,000* ZAR
Stock: R50,000
Assets: R780,000
R 146,950 ZAR
Summary

Vehicle spray painting workshop

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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?
Yes

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?
Yes

Do any have management potential?
No

How involved is the Owner in running the business?
Owners are 100% involved in the running of the branches

What is the annual escalation %?
5%

What are the trading hours?
Monday to Friday from 08:00 to 17:00

Is a copy of the lease available?
Yes

What are the main assets of the business?
Spray booth, compressor and specialized tools

What is their overall condition?
Good 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

Strengths?
25 Year established business Excellent processes and procedures in place Trained and loyal staff Good location

Weaknesses?
Weak advertising

Opportunities?
Panel beating services can be added

Threats?
Current economy

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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FRANCHISE DETAILS

Aldes Head Office

2 members
16 active mandates
Gauteng , Pretoria East
Menlyn Corporate Park - 4th Floor, Suite H2 175 Corobay Avenue Waterkloof Glen Pretoria
Pretoria East
0040

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