Sectors / Category

Annual turnover

  • Mandate: 34378
  • Added: 07 Feb 2021
  • AFS
  • 218

Iconic, 33 Yrs Established, Men's Outfitters.

Eastern Cape, East London
Mandate 34378
Added 07 Feb 2021
R 4,500,000* ZAR
Stock: R 3,800,000
Assets: R 220,000
R 137,062 ZAR
Jaco du Plooy
Aldes Compact
Western Cape
Western Cape

Manager run upmarket men's outfitters, specializing in imported brands for the modern, fashion conscious individual, established for 33 years.

R 4,500,000* ZAR
Stock: R3,800,000
Assets: R220,000
R 137,062 ZAR

Manager run upmarket men's outfitters, specializing in imported brands for the modern, fashion conscious individual, established for 33 years.

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Fully describe the business's activities?
High end clothing (mainly men's imported), retail. Also sells accessories and shoes.

How long has the business been established?
33 Years established.

How long has the owner had the business?
The current owner established the business.

How does the business operate on a daily basis?
Retail clothing shop.

How are the clients attracted to the business?
Long established and well known by the upmarket men's fashion conscious population. Word of mouth plays a big role and exclusive and imported stock do attract old and new customers. Popular with many "celebrities".

What Advertising/Marketing is carried out?
No advertising is done currently.

Does the business have any contract work?
No contract work.

What competition exists?
Very little competition exits. The chain stores do not offer this exclusive variety of unique imported clothes and accessories.

What are the seasonal trends?
Year end and the Christmas period are very busy. This business has also very good winter trading.

How did the Covid-19 pandemic impact the business turnover / daily operations?
The Covid-19 pandemic did affect operations but the business recovered well. It seems people use shopping as a cure for more time on hand.

What steps / actions have been taken to combat the effect of Covid-19 pandemic?
The normal rules and regulations as prescribed by government are in place and applied.

Is the business VAT Registered?
Yes, the business is VAT Registered.

What VAT documentation is on file?
All relevant VAT documentation is on file and available to qualified buyers.

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

What Balance Sheet and Income Statements are available?
29 February 2020 are available.

What percentage of the business is cash/credit?
100% Cash business.

What is the age analysis of the debtors book?
Not applicable.

How could the profitability of the business be improved?
Turnovers can be improved with more advertising and to introduce online shop facilities.

Is Seller finance available and for what amount?
No seller finance is available.

What is the total staff complement?
5 Staff members.

Give a breakdown of staff/ functions/ length of service?
Managers 15 yrs. 3x sales persons 5 yrs.

Do any receive special perks or incentives?
There is a commission structure in place.

Are they on contract?
Normal Labour Law applies.

Do any have management potential?
There is a manager in place.

How involved is the Owner in running the business?
The owner is 100% involved in running the business.

When does the current lease end?
The owner is also the landlord.

Is there an option of renewal & what period?
There is an option for a 5 year lease, to be negotiated.

What is the annual escalation %?
To be negotiated with landlord.

What are the trading hours?
Mon- Sat 09H00- 18H00, Son 09H30- 13H30.

What is the square meters of the business?
350 Sqm.

Is a copy of the lease available?
To be negotiated.

Do you require a licence?
No special licence is required.

What lease deposit and/or other surety is required?
2 Months rent deposit.

What are the main assets of the business?
- Computer and point of sale systems. - Furniture and fittings. - Display cabinets. - Security system. - Tailor shop machinery & equipment.

Are any items not included in the sale?
All items are included in the price. Except a DVD.

What is their overall condition?
All items are in a good condition.

Do any require repairing?
No repairs needed.

How have they been valued ?
Owner and broker valuation

Which assets are on lease/HP and with whom?
No assets on are lease.

Are they presently insured?
All assets are insured.

Well known and long established. Niche market of clients. Loyal employees. Strong imported brands. Little or none competition. Well located upscale gallery/ destination mall.

Long hours.

To advertise and introduce online sales.

Normal economical threats.

What is the reason for the sale?
Owners to retire.

Why is this a good business?
This business enjoys iconic status in an extended area among top end clients over a very long period. Very profitable over a very long period.

What is the price plus stock and the profit?
Price R700,000 + Stock of +- R3,800,000 = R4,500,000. Profit for the 12 months ending 29/02/2020 R1,644,741. Good profits for 10 months ending 31/12/2020 Covid period included!! Turnover December 2020 R650,587.

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