Sectors / Category

Annual turnover

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  • Mandate: 34107
  • Added: 01 Feb 2021
  • AFS
  • 259

Fishing and Tackle Supply Store in North West Province

North West, North West
259
Mandate 34107
Added 01 Feb 2021
R 1,500,000* ZAR
Stock: R 500,000
Assets: R 271,004
R 32,625 ZAR
Frans Joubert
(PRINCIPAL)
Aldes Potchefstroom
North West, Potchefstroom
North West, Potchefstroom
Summary

Long established fishing and tackle store with dedicated customer base in an area with keen fishing and outdoor customers

Fishing and Tackle Supply Store in North West Province
SELLING PRICE AFS
R 1,500,000* ZAR
Stock: R500,000
Assets: R271,004
R 32,625 ZAR
Summary

Long established fishing and tackle store with dedicated customer base in an area with keen fishing and outdoor customers

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Fully describe the business's activities?
Retail Fishing Store in North West selling a range of fishing related products

How long has the business been established?
More than 60 Years

How long has the owner had the business?
More than 60 Years

How does the business operate on a daily basis?
This is a retail store with a long established client base - The business operates normal retail hours from Monday to Friday 09:00 to 17:00 and on Saturdays from 09:00 to 13:00

How are the clients attracted to the business?
Mostly Word of Mouth, established relationships and some event sponsorships over the years related to fishing, due to long history of company a lot of references are also made to company in archived online reports and news events

What Advertising/Marketing is carried out?
Some event sponsorships over the years related to fishing, due to long history of company a lot of references are also made to company in archived online reports and news events

What competition exists?
In the region there are a number of fishing tackle stores due to proximity to the Vaal River, these are largely limited to a store per city in major areas

What are the seasonal trends?
Summer months are better due to nature of fishing activities being more dominant during these periods

How did the Covid-19 pandemic impact the business turnover / daily operations?
Lockdown had store closed

What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Best practices as communicated by Government and Health Authorities from time-to-time

Is the business VAT Registered?
Yes

What VAT documentation is on file?
VAT Returns

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

What Balance Sheet and Income Statements are available?
2018 and 2019 AFS Available

What percentage of the business is cash/credit?
Most business is cash/card based

How could the profitability of the business be improved?
There is significant opportunity to increase sales through more active involvement in business and energetic drive in local fishing communities and followers, adding a webfront to store as well as social media exposure via Facebook, Instagram, Tik-Tok and others will yield great results due to the loyal following and nature of fishing enthusiasts to share stories, further to that by targeting new and more youthful/younger market significant benefits could be extracted by sales in these other segments. By engaging with fishing venues in the area the business will further enhance its image and subsequent exposure in the different target markets/segments

Is Seller finance available and for what amount?
No

What is the total staff complement?
There are two full time staff members

Give a breakdown of staff/ functions/ length of service?
Staff has been with company a long time and understands the business well

Do any have management potential?
Store assistant basically manages all aspects of the store already

How involved is the Owner in running the business?
The current owner is at store most of the day, yet the store is very well managed by current store assistant

When does the current lease end?
The lease is available and flexible according to new owner needs as building is owned by current seller of the business

Is there an option of renewal & what period?
The lease is available and flexible according to new owner needs as building is owned by current seller of the business

What is the annual escalation %?
The lease is available and flexible according to new owner needs as building is owned by current seller of the business

What are the trading hours?
Normal retail hours - Monday to Friday 08:00 to 17:00 and Saturday to 13:00

Is a copy of the lease available?
The lease is available and flexible according to new owner needs as building is owned by current seller of the business

What lease deposit and/or other surety is required?
The lease is available and flexible according to new owner needs as building is owned by current seller of the business

What are the main assets of the business?
This is a retail store with normal shop fittings and Stock

Are any items not included in the sale?
The current owner has some old antique reels and other items on display from customers and his won, these are not included in the sale - The owner owns the building and the building is not included in this sale - Should buyer wish to buy building the owner is willing to look at reasonable offers

Strengths?
- This is a business with more than 60 years of history in the region, with significant and loyal customer base on which business can continue to be built. - The business established significant business relationships with vendors over the years, continued nurturing of these relationships could build even greater exposure for the business - The existing customers are loyal towards the business and are very willing to share stories, experiences and great spots for fishing across the region, by adding a platform through which they can share their stories with the wider world and their fellow fishing enthusiasts, such as Facebook/Social Media the business can use these relationships as an asset to the business development efforts - The business age of more than 60 years means that all processes, purchasing and other administrative functions are well established, thus the business is relatively easy to run/manage

Weaknesses?
- The owner age and health resulted in less active and aggressive marketing of the business, therefore more positive sales could have been achieved over the last few years

Opportunities?
- There is significant opportunity to increase sales through more active involvement in business and energetic drive in local fishing communities and followers, adding a web front to store as well as social media exposure via Facebook, Instagram, Tik-Tok and others will yield great results due to the loyal following and nature of fishing enthusiasts to share stories, further to that by targeting new and more youthful/younger market significant benefits could be extracted by sales in these other segments. By engaging with fishing venues in the area the business will further enhance its image and subsequent exposure in the different target markets/segments. - Expanding the current product offerings to full outdoor offering, such as camping and outdoor equipment could increase sales into new product categories

Threats?
- Covid lockdowns in future could impact business, this threat could be countered through online/web front store

What is the reason for the sale?
Owner wishes to retire

Why is this a good business?
This business is well established with a good foundation over more than 60 years, through new energy and enhanced marketing activities additional revenues could be generated and business can establish a greater presence in a fun and enjoyable market segment

What is the price plus stock and the profit?
R1,000,000 Excluding Stock

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AGENCY DETAILS

Aldes Potchefstroom

1 members
43 mandates
North West , Potchefstroom
Mia Meent Unit 3 6 Fick Street Potchefstroom
Potchefstroom

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