Fully describe the business's activities?
This business sell second hand goods , loan money against goods (Cash Advance or Pawn-broking) and do short-term loans against a customer's next salary. This Franchise is part of the world's largest cash and Asset converter with an international network of more than 740 stores in 20 countries around the world.
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The Manager starts at around 8H00 by transfer cash to the different tills. The Staff do all the start of day functions (such as accepting till balances , cleaning,etc) and at 9H00 the doors open for trading. During the trading hours the buyers do buys and cash advances from clients and the Sales persons sell new and second hand products to clients. The 1 staff member at the Personal Finance Division loans cash to customers according to the rules of the National Credit Provider . At 17H30 the staff do the Close of day Functions
How are the clients attracted to the business?
Clients are attracted to the business mainly because of the business model - they get immediate CASH in hand and they can buy quality seconds hand goods at discount prices. Head office also offers SMS , Facebook Campaigns and TV Adverts
What Advertising/Marketing is carried out?
Local Area Marketing consists of distributing pamphlets and adverting in local newspapers. The head office runs national television and social media campaigns.
Does the business have any contract work?
What competition exists?
No direct competition in surrounding area.
What are the seasonal trends?
Summer months are better trading months although this business trades well throughout the year.
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
Yes, available to qualified buyers.
What Balance Sheet and Income Statements are available?
Full history available.
What percentage of the business is cash/credit?
20% cash 80% credit and debit cards.
How could the profitability of the business be improved?
Leveraging more on the Groupâs Online store. This particular store has only been participating on the online store for 2 months. Other stores that joined the online shopping 12 months ago reported 15-20% growth in Turnover.
What is the total staff complement?
8 staff, compromising of 2 x managers and 3 x buyers.
Give a breakdown of staff/ functions/ length of service?
1 x manager 1 x assistance manager 3 x buyers. 2 x salesman 1 x cleaner
Do any receive special perks or incentives?
Commission paid on performance.
Are they on contract?
Do any have management potential?
Management structure in place.
How involved is the Owner in running the business?
When does the current lease end?
Is there an option of renewal & what period?
5 year renewal.
What is the annual escalation %?
What are the trading hours?
Mon - Fri 9am to 6pm Sat 9am to 3pm Sun 9am to 1pm
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
Yes, NCR license required - HQ facilitates new application and/or renewals
What lease deposit and/or other surety is required?
3 months rental deposit
What are the main assets of the business?
Full asset list available.
Which assets are on lease/HP and with whom?
Delivery vehicle - option to take over payments.
Are they presently insured?
All assets are comprehensively insured.
Great location with strong cash flow. Strong franchisor support.
Greater owner involvement will increase profitability.
What is the reason for the sale?
Owner wants to pursue other business interests.
Why is this a good business?
Market leader in second hand and cash advancing space. Profitable store with static expenses.
What is the price plus stock and the profit?
R3 520 000-00 includes R1million stock and assets.
Discover similar, inspiring businesses for sale
Annual Turnover Amount between R 500 thousand and R 6 million