Sectors / Category

Annual turnover

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  • Mandate: 34806
  • Added: 23 Jul 2021
  • AFS
  • 361

Music retail store

North West, North West
361
Mandate 34806
Added 23 Jul 2021
R 580,000* ZAR
Stock: R 444,000
Assets: R 0
R 10,625 ZAR
Deon van Tonder
(PRINCIPAL)
Aldes Badu
Gauteng, Randburg
Gauteng, Randburg
Summary

Long established

SELLING PRICE AFS
R 580,000* ZAR
Stock: R444,000
Assets: R0
R 10,625 ZAR
Summary

Long established

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please supply us with your details below

Fully describe the business's activities?
Music shop and accessories Traditional instruments, keyboards, amplifiers, speakers and accessories

How long has the business been established?
Since 1980

How long has the owner had the business?
41

How does the business operate on a daily basis?
Monday to Friday 7:30-17:00 Saturday 7:30-13:00

How are the clients attracted to the business?
Established business, word of mouth

What Advertising/Marketing is carried out?
Pamflets from time to time

Does the business have any contract work?
NO

What competition exists?
Cash crusaders

What are the seasonal trends?
High sales from October to December Low Sales January to February Building up to Easter

How did the Covid-19 pandemic impact the business turnover / daily operations?
Some of the clients like Churches, Bars, Shabines were affected by covid-19 lockdown restrictions and it had a subsequent negative effect on turnover

What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Compliance to regulations

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Necessary documents available on request

Are there up-to-date Management Accounts available?
No, but accurate turnover figures available

What Balance Sheet and Income Statements are available?
2019 and 2020

What percentage of the business is cash/credit?
Only cash, no credit

What is the age analysis of the debtors book?
N/A

How could the profitability of the business be improved?
Marketing on a ongoing basis Extending a credit line to mine workers

Is Seller finance available and for what amount?
No

What is the total staff complement?
Owner run no staff

How involved is the Owner in running the business?
Owner run ,hands on.

Any special arrangements for the staff related to the Covid-19 pandemic?
Compliance to regulations

When does the current lease end?
The lease ended Dec 2020 Previous owners were EDCON New owners are unknown.

What are the trading hours?
Monday to Friday 7:30-17:00 Saturday 7:30-13:00

What is the square meters of the business?
110 square meters

Is a copy of the lease available?
Copy available

Do you require a licence?
NO

What lease deposit and/or other surety is required?
R16 500 deposit

What are the main assets of the business?
Stock as per list

Are any items not included in the sale?
Computers

What is their overall condition?
Fair shopfittings included

Do any require repairing?
No

How have they been valued ?
Book value

Which assets are on lease/HP and with whom?
None

What are their settlement amounts?
N/A

Will Seller settle or Buyer to take over?
N/A

Are copies of agreements available?
N/A

Are they presently insured?
Self insured

Strengths?
Well established and trusted in the town and community

Weaknesses?
Unknown landlord

Opportunities?
Online marketing

Threats?
Covid-19 lockdowns vulnerable

What is the reason for the sale?
Owner retiring (74)

Why is this a good business?
Cash business Reasonable hours Lay buys create positive cash flow Well established for 41 years Established supply chain of 8 mutually trusting suppliers

What is the price plus stock and the profit?
Asking Price R 180 000 Plus stock R 400 000 Selling Price R 580 000

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AGENCY DETAILS

Aldes Badu

1 members
8 mandates
Gauteng , Randburg
40 Silver Pine Avenue, Moret, Randburg, 2194
Randburg

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