Fully describe the business's activities?
Pets and pets accessories trading also commonly referred to as a Pet Shop The business took a bit of a drop in turnover due to some work done on the centre recently, however, this is all completed and the business has bounced back to its normal numbers, also there is no further work planned in the centre for the foreseeable future. The supporting financial numbers clearly identify this. Also, the business has proved itself to be largely immune to any drop in revenue due to Covid-19
How long has the business been established?
How long has the owner had the business?
The owner started the business
How does the business operate on a daily basis?
The business is run by the owners wife and one staff member, the owners wife will be leaving however the staff member is fully competent in running the business
How are the clients attracted to the business?
Word of mouth
What Advertising/Marketing is carried out?
Basically two posts per wee on Facebook as well as Whatsapp
Does the business have any contract work?
What competition exists?
There is a similar store in a centre approximately three kilometres away
What are the seasonal trends?
Trade is constant during the year, stock is adjusted for the winter months to accommodate for the weather
How did the Covid-19 pandemic impact the business turnover / daily operations?
No effect other than home deliveries have picked
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
As per regulations
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
Credit Card is approximately 75% The balance is cash and there is no EFT
What is the age analysis of the debtors book?
There are no Debtors
How could the profitability of the business be improved?
More advertising as well as pushing the Home Deliveries side
Is Seller finance available and for what amount?
What is the total staff complement?
Two staff, one is the owner's wife who will be leaving when the business is sold, the remaining staff has been well trained to run the business and is super enthusiastic
Give a breakdown of staff/ functions/ length of service?
More than a full year
Do any receive special perks or incentives?
The remaining staff member has just received a salary increase
Are they on contract?
Yes in place
Do any have management potential?
The remaining staff member definitely has management potential and should the business not sell the owner will put this staff member in charge of running the business.
How involved is the Owner in running the business?
Current the owner's wife runs the business but will be leaving with the sale
Any special arrangements for the staff related to the Covid-19 pandemic?
Just according to the regulations
When does the current lease end?
Is there an option of renewal & what period?
Yes for 5 years
What is the annual escalation %?
8% on all
What are the trading hours?
09:00-17:30 Monday to Friday 09:00-13:30 Saturdays
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
Two months deposit is required
What are the main assets of the business?
Are any items not included in the sale?
The Parrot and it's cage belong to the owner and not part of the sale
What is their overall condition?
All in good working condition
Do any require repairing?
Ongoing repairs and maintenance are performed
How have they been valued ?
Are they presently insured?
Business is very well established and known The staff are very knowledgeable and well trained and enthusiastic Great location and area in a very popular shopping centre Centre revamps are all completed and none planned for the current future
Shop size could be bigger to accommodate more stock
What is the reason for the sale?
Seller has been doing this for 30 years and is busy changing and transitioning into other businesses
Annual Turnover Amount between R 500 thousand and R 6 million