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Annual turnover

  • Mandate: 34599
  • Added: 07 Apr 2021
  • AFS
  • 163

A business providing compliance certificates for property transfers.

Western Cape, Cape Town
Mandate 34599
Added 07 Apr 2021
R 2,050,000* ZAR
Stock: R 150,000
Assets: R 594,690
R 85,608 ZAR
Geoff Hatt
Aldes Atlantic
Western Cape, Cape Town
Western Cape, Cape Town

This business is involved in providing compliance inspections and repairs neccessary to issue certificates for property transfers. They also do call outs for electrical and plumbing repairs not related to compliance. Since July 2020 they no longer employed a Beetle and Gas Inspector preferring to refer these out - which is an opportunity for a new owner.

A  business providing compliance certificates for property transfers.
R 2,050,000* ZAR
Stock: R150,000
Assets: R594,690
R 85,608 ZAR

This business is involved in providing compliance inspections and repairs neccessary to issue certificates for property transfers. They also do call outs for electrical and plumbing repairs not related to compliance. Since July 2020 they no longer employed a Beetle and Gas Inspector preferring to refer these out - which is an opportunity for a new owner.

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Fully describe the business's activities?
The business specialize in electrical and plumbing Property Compliance certification.. They do compliance inspections and repairs necessary to issue certificates for property transfers for landlords, transferring attorneys and for insurance purposes. They also do call outs for electrical and plumbing repairs not related to compliance. Since July 2020 they no longer employed a permanent beetle and gas Inspector preferring to refer these out. This constitutes an excellent opportunity for a new owner.

How long has the business been established?
01 July 2003 – 18 Years

How long has the owner had the business?
18 Years

How does the business operate on a daily basis?
They receive requests for inspections, arrange appointments for the inspection teams to go out to do the inspections. Depending on the inspection, they provide a quotation and the repair teams go out to repair and then, once compliant, they issue the necessary certificates.

How are the clients attracted to the business?
Clients require the certificates in order for transfer of their property to take place - this is a legal requirement.. So they seek out a company to do this work and this takes place by word of mouth, referrals, recommendations, repeat business, Estate Agents, Transferring Attorneys, Insurance companies. Web site

What Advertising/Marketing is carried out?
They don’t do any active marketing or advertising but do a weekly mail drop to houses on show. Website

Does the business have any contract work?

What competition exists?
There are other companies offering the same service.

What are the seasonal trends?
Quieter in the winter months.

How did the Covid-19 pandemic impact the business turnover / daily operations?
The business was closed for 2 months but quickly returned to normal turnovers.

Is the business VAT Registered?

What VAT documentation is on file?
All VAT documentation is available for inspection in the due diligence process

Are there up-to-date Management Accounts available?
Yes - from March 2019 to Feb 2020 and from March 2020 to Feb 2021.

What Balance Sheet and Income Statements are available?
Up to end Feb 2021

What percentage of the business is cash/credit?
Clients either pay them on completion or they submit to their transferring attorneys for payment on transfer. They have recently added 10% onto the repair portion of the invoice to encourage payment on completion 60% on completion, 40% on transfer.

What is the age analysis of the debtors book?
They do not operate with accounts. There are two outstanding invoices from TYE 2020. Estate Late transfers that have been delayed.

How could the profitability of the business be improved?
Active Marketing

Is Seller finance available and for what amount?

What is the total staff complement?
2 X Owners who are actively involved 9 x Staff 1 x part time bookkeeper

Give a breakdown of staff/ functions/ length of service?
Admin – 2 + Owner =3 Electrical – 4 + Owner = 5 Plumbing 3 - Electrical 2003 - Electrical 2003 - Electrical 2014 - Electrical 2011 - Admin 2017 - Admin 2020 - Plumbing inspector 2019 - Plumbing 2013 - Plumbing 2021

Do any receive special perks or incentives?
Electrical Team Leaders currently use the company vehicles to and from the office. Plumbing Inspector uses a company vehicle to work and back.

Are they on contract?
All permanently employed

Do any have management potential?
Yes – The plumbing inspector

How involved is the Owner in running the business?
Both work in the business – Electrical Inspector and oversees electrical teams – Assist with admin, invoicing, payments

When does the current lease end?
The business is run from a property owned by the owners so will have to be relocated.

What are the trading hours?
Monday to Friday 8AM to 4.30PM

What is the square meters of the business?
House 228m2. But do not need such large premises.

Do you require a licence?
You need to be a registered installation electrician to issue an electrical CoC A registered electric fence installer to issue an Electric Fence Certificate A qualified plumber registered on the City of Cape Town’s Data Base to issue a Water By-Law certificate

What are the main assets of the business?
Vehicles x 5 Stock Tools and Equipment Office Equipment Furniture Desk Top Computers x2 Laptops x2 Printer/Scanner/Copier x3

Are any items not included in the sale?

What is their overall condition?
All vehicles serviced regularly.

Do any require repairing?

How have they been valued ?
Fair market value

Which assets are on lease/HP and with whom?
2 Vehicles with Standard Bank. T

What are their settlement amounts?
2016 KIA Soul balance owing R52 000 (Value R 180 000) 2018 Nissan NPV balance owing R125 843 (Value R120 000)

Will Seller settle or Buyer to take over?

Are copies of agreements available?

Are they presently insured?

Well known and established business in the industry. A great team of employees.

They don’t have a person marketing the business. They thought that by not offering Beetle and Gas would affect our business, but it has not.

Better Marketing to increase inspections for transfers. Marketing to Rental Agents to ensure their rental properties are compliant. New owner could employ a gas and or beetle person and offer all 5 inspections

Non perceived.

What is the reason for the sale?
Owners are emigrating to the UK.

Why is this a good business?
The service we provide is a legal requirement and sellers need to obtain certificates to transfer their properties. Trades will always have work. There is so much potential to expand and grow this business. With the right marketing you can increase the amount of inspections coming in which will generate more repair work.

What is the price plus stock and the profit?
Selling price - R 2 050 000 including stock Stock - R 150 000 Average adjusted monthly net profit - R 85 600

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