"Selling your business is our business"
"Selling your business is our business"
How long has the business been established?
Development of the application during 2019.
First franchise established in 2020.
Planned launch was scheduled for February 2020.
The national Covid-19 lock down prevented any progress.
How long has the owner had the business?
Concept & idea formulated in November 2018.
Development commenced in January 2019.
Planning commenced in November 2019.
Lift Link is a registered Trademark.
Describe the concept and what the mobile app is all about
The whole concept is based on providing a service for the safe and secure transport of school children.
The company has developed a mobile application whereby parents can register and through the application organise rides and lifts for their school children.
In a nutshell it is a ride sharing for scholars where the drivers are paid for their service.
Is this a franchise?
What is being sold is in fact the franchisor - the owner of the intellectual property, franchise agreements and mobile application.
As new owner of the business you will have the benefit of selling franchises as per pre-defined areas.
Explain the background of the concept
The company is known as LiftLink.
The concept and idea was formulated in November 2018 and the development of the mobile application started in January 2019.
At the end of November 2019 it made sense to franchise the concept.
Full franchise disclosure documents, franchise agreements and areas have been defined and is ready to go to market.
The owners were ready to go to market when Covid-19 lock down was announced.
How does the business operate on a daily basis?
The owner is running/operating: Brooklyn Pretoria Area as a pilot franchisee.
Approximately 240 drivers listed during the period.
What Advertising/Marketing is carried out?
A neat website explaining the concept with tutorial videos.
Most interest is generated via the Facebook page.
What competition exists?
One would describe taxi operators and other scholar transport operators as potential competition.
What are the seasonal trends?
It is foreseen that during school holidays their will be less scholars transported.
How did the Covid-19 pandemic impact the business turnover / daily operations?
Most severely. In essence all business operations stopped completely.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
It is a requirement that scholars being transported wear a mask.
It is also required that the drivers have a hand sanitizer available in their vehicle.
How could the profitability of the business be improved?
New owner should focus on selling franchise areas.
Give a brief description of the business financial performance and statements/records available
The business merely rolled out and then seized operating.
The company is registered for VAT.
All payments are made through the mobile app.
All payments are per credit card.
There are no financial statements available.
What is the total staff complement?
There are no permanent or full time staff.
Currently the business is managed by the owner himself.
One senior system developer on a contract basis.
The owner is most satisfied with his arrangement with the developer.
Does one require office space?
The whole business concept is that of a mobile application and managing the business should be seen as a work from home opportunity.
What are the main assets of the business?
There are no tangible assets.
The company assets consist of intellectual property. (IP) These include:
Franchise contracts and franchise documents.
Franchise development and disclosure documents.
Mobile application. (The app itself)
Website.
The registered trade name - LIFTLINK.
Strengths?
Development of mobile application completed.
Existing website.
Very neat franchise documents.
Company registered for all regulatory requirements.
Payment for credit cards and banking is working properly.
Weaknesses?
New business with no figures or sales.
Opportunities?
Selling franchise areas.
Threats?
Covid-19 - possible further state of disaster lock down measures with regards to schools.
What is the reason for the sale?
The owner did not anticipate the impact of Covid-19 national lock down.
He has no budget to sustain his other business venture - he therefore needs to sell to have capital available.
Why is this a good business?
The concept of safe and secure transport for scholars is well received in the market, especially by concerned/busy parents.
Franchise concept well researched, planned and implemented.
CAUTION: THIS IS A NEW BUSINESS THAT BARELY HAD AN OPPORTUNITY TO TRADE BEFORE COVID-10 LOCK DOWN.
What is the price plus stock and the profit?
Asking price of: R 1 150 000.
Owner willing to accept terms - phone Ferdi: 083 628 8211.
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