Fully describe the business's activities?
The business offers instant storage solutions to both households or businesses at very competitive rates. It also sources containers for a wide clientele base. There is easy access to the units on site and the business also allows some units to be stored on their clients own site. The business is very flexible on the duration of storage requirements so short term or long term storage is accommodated. The business also is able to convert the containers that are sold to the Buyers exact requirements. These containers serve a multitude of purposes including includes offices, ablution facilities, accommodation, storage and many more functionalities.
How long has the business been established?
The business was first registered in Nov 1993 in the name of Personal Best Marketing CC. This name was changed to the current name in Jan 2007.
How long has the owner had the business?
How does the business operate on a daily basis?
The owner is directly responsible for the running of the business.
How are the clients attracted to the business?
Word of Mouth, advertising board on site and face book.
What Advertising/Marketing is carried out?
No additional advertising takes place.
Does the business have any contract work?
What competition exists?
There are a number of storage facilities in the area. The nearest is approximately four kilometers away.
What are the seasonal trends?
No seasonal trends exist.
How did the Covid-19 pandemic impact the business turnover / daily operations?
Masks and sanitizing are strictly adhered to.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Is the business VAT Registered?
Yes. First registration was applicable from 1st March 1999.
What VAT documentation is on file?
Will be made available to a serious buyer.
Are there up-to-date Management Accounts available?
Up and until 31st Oct 2020.
What Balance Sheet and Income Statements are available?
The AFS for the period ended 29th February 2020
What percentage of the business is cash/credit?
Clients pay by EFT's, Netcash Debit order or cash.
What is the age analysis of the debtors book?
Invoicing is done in advance by the 25th of the month and clients must pay their accounts by the 5th of the following month.
How could the profitability of the business be improved?
The new owner will have the option to acquire more containers or increase container sales. There is amply space on the existing site to expand the business by more than double of the existing set-up.
Is Seller finance available and for what amount?
Preferably looking at a cash sale.
What is the total staff complement?
There is only one other general helper employed.
Give a breakdown of staff/ functions/ length of service?
The person mainly looks after the general maintenance of the site including the gardens.
Do any receive special perks or incentives?
Are they on contract?
Do any have management potential?
How involved is the Owner in running the business?
Very involved daily.
Any special arrangements for the staff related to the Covid-19 pandemic?
Normal mask waring and hand sanitizing.
When does the current lease end?
The owner has asked that the property be included with the sale of the business.
The property is approximately 8025 square meters. Is zoned Agricultural. Application to rezone to Special approved subject to payment of bulk services levy. Fully walled, with razor wire on top of walls, and gated. It is divided in to 3 sections each approximately 2340 square meters with dividing walls and fences. There are two entrances. Front (main entrance) from Benoni road and rear entrance from Evans road.
Description of homestead
Approximately 200 square meters. 2 Bedrooms all with built in cupboards Open plan Lounge / Dining room. Kitchen fully fitted, with 4 plate gas hob, double wash up sink. Connection for dishwasher. Bathroom with separate shower. Separate toilet with hand wash basin. Patio with outdoor roll up blinds. Outside toilet with hand wash basin. Outside Shower. Study Garage approximately 100 square meters with direct access into house. Single car port. Rainwater harvesting tanks totalling 11,400 litres. 380v 3 phase Electricity supply. Pre-paid electricity metering. Established garden and driveways.
What are the main assets of the business?
There are 92 containers on site and an additional 8 containers are hired out off site. The Seller has specifically asked that there should be a revaluation of the Value of the containers neared an Effective Date. The reason being that the value of the 20' GP containers are very much linked to the Dollar/Rand exchange rate. Its also important to note that due to the actual saleable value of the containers we have used the EPP valuation method to determine the value of the business.
Are any items not included in the sale?
What is their overall condition?
All the containers are in good condition.
How have they been valued ?
They have been graded according to their conditioning by Container Providers International who are part of the CPI group. This company has been in this industry for +/- 42 years. The General Purposes containers when in good condition are always valued at the current Dollar/Rand exchange rate.
Are they presently insured?
The business is well established and is well known in the area. Its easy to run and the overall risk is low.
There is amply space on the property to add additional storage space.
None perceived presently
What is the reason for the sale?
The owner would like to retire.
What is the price plus stock and the profit?
The value of the containers which could be sold off if so required is approximately R 3.1 million. The business sale price is R 4.8 million which includes the listed container stock. The asking price of the property is R 1.6 million.
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