Fully describe the business's activities?
This is a House Repair Business working directly with Bank's and Insurer's to fix and repair damages on insured Homes. Orca does not deal direct on Public jobs, the business functions daily directly from its long standing relationships with the institutions! The company has long standing Service Level Agreements!
How long has the business been established?
The business was started in 1973.
How long has the owner had the business?
37 Years, the current owner bought the business in 1984.
How does the business operate on a daily basis?
The Insurance company will email Orca direct. Orca will acknowledge the mail and the job will be directed to Orca should the Company approve. The two teams of staff take the 2 company vans out daily. The work is normally booked about 2 weeks in advance.
How are the clients attracted to the business?
orca has mandates and agreements with certain companies and they mail direct to Orca when the next job is available.
What Advertising/Marketing is carried out?
Nothing at present.
Does the business have any contract work?
Orca is based on Contract work. long standing agreements and mandates are held with the Principle Businesses.
What competition exists?
The Competition is always there, but tends to come and go. Orca is now well established and can handle the competition as and when.
What are the seasonal trends?
Winter is normally busier than Summer, mainly due to storm damage claims.
How did the Covid-19 pandemic impact the business turnover / daily operations?
There was a short blip during lockdown as the country closed, but trade was back to normal straight after lockdown.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
All staff follow Government set Covid protocol.
Is the business VAT Registered?
Yes it is.
What VAT documentation is on file?
All on file
Give a breakdown of staff/ functions/ length of service?
each member is a specialist in their area and the average length of service is 5 years.
Do any receive special perks or incentives?
transport expenses to work and home.
Are they on contract?
Yes, full time contracts.
Do any have management potential?
Not a present
How involved is the Owner in running the business?
He is very hands on. His role is office based in overseeing the admin of the business.
Any special arrangements for the staff related to the Covid-19 pandemic?
everything is in line with accepted protocol.
When does the current lease end?
The owner owns the premises. The factory unit is 130 sq metres and is available for the new owner to purchase.
Is there an option of renewal & what period?
Current owner could sell or lease unit to new owner.
What are the trading hours?
Currently the staff work from 7,30 until the job is complete.
What is the square meters of the business?
Currently within 130 sq metres.
Do you require a licence?
Orca has agreements in place with many institutions.The current owner would spend some time introducing the purchaser to all of the relevant people. He does not foresee any problem with Orca changing ownership as far as the institutions are concerned. In fact, with a BBBEE level 1 in place he foresees a potential strong growth.
What are the main assets of the business?
The factory housing the business is for sale if required and is 130 sq metres. The business has a vast range of relevant tools and has 2 vehicles included. A 2016 Hyundai H1 and a 2020 Nissan NP. All office computers and relevant software packages will be in eluded.
Are any items not included in the sale?
All items owned by the business are included.
What is their overall condition?
Overall condition of vehicles and equipment is fair to good and considerate of age.
Do any require repairing?
All in good condition and ready useable.
How have they been valued ?
All assets have been considered at fair replaceable market value.
Which assets are on lease/HP and with whom?
Are they presently insured?
Everything is currently insured.
Orca is well known for being good at what they do. The business is well established and known for being trustworthy in getting a consistent job done.The staff are long standing and well trained within their specific areas. The company has some excellent agreements in place and with the right owner is prime for growth. The business model has some very decent margins.
The fact that the current owner does not have a BBBEE Level 1 is holding the business back from obtains more market share.
The new owner with the right BBE credentials could possibly double the level of business obtained.
The only current threat is that institutions set the bar higher on BBE ownership, that is why it is imperative that the new owners carry the correct BBBEE Level 1 rating.
What is the reason for the sale?
The current owner has been the driving force of the business and is now ready to retire. He also sees that the future of the business needs to be within a new framework.
Why is this a good business?
This company makes very decent margins on its jobs and carries no debtors book. The new owner is taking over a business that has excellent relationships and agreements in p[lace, something that start ups would take years to obtain. The business is also very fortunate in that the business comes to it via daily emails. The owner does not have to look for the next job.
What is the price plus stock and the profit?
R2,750,000 inc stock and vehicles. A 130sq metre warehouse is available if required, in Parow Industria, priced at R1,200,000
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