Fully describe the business's activities?
This business is a men's, ladies and kids clothing, shoes and linen shop The business sell well known branded merchandise like POLO, JEEP, LEE, ADIDAS, PUMA etc as well as chain store overruns.
How long has the business been established?
The business was established in 2014
How long has the owner had the business?
The owner had the business since it was established
How are the clients attracted to the business?
The business run monthly specials and a rewards program for loyal customers.
What Advertising/Marketing is carried out?
12 000 pamphlets are distributed to 7 surrounding towns that are self delivered door to door twice a year. Social media & eCommerce Platforms
Does the business have any contract work?
Not at the very moment, but there could be possibilities.
What competition exists?
There is no competition for our branded clothing in this area. The reason for this is that the surrounding towns is to small. Some of the companies, only supply two customers in the Free State and will therefore not supply more than one in a smaller town. These are exclusive brands and the distributors are very picky about the area and other businesses with the same merchandise. If we had chain stores then there would be less Branded Names that we could stock.
What are the seasonal trends?
Seasons trend would be summer and winter.
How did the Covid-19 pandemic impact the business turnover / daily operations?
Covid-19 benefited the business, as customers supported our business to avoid crowded malls and shopping centers.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
We have all the necessary Covid-19 protocols in place.
Is the business VAT Registered?
Yes the business is VAT Registered
What VAT documentation is on file?
Available on request
Are there up-to-date Management Accounts available?
Yes, available on request
What percentage of the business is cash/credit?
How could the profitability of the business be improved?
Always be on new newest, hottest trends in the fashion industry
Is Seller finance available and for what amount?
What is the total staff complement?
4 Permanent Staff memebers
Give a breakdown of staff/ functions/ length of service?
1 x Manager - General sales, opens and closes the business, balancing the till, invoices and admin - 7 Years 2 x General Workers - Clothing department & storeroom 1 x Cleaner
Do any receive special perks or incentives?
Yes - commission on sales (individual sales performance)
Are they on contract?
Do any have management potential?
O yes! the manager is 100% capable to run this business on her own.
How involved is the Owner in running the business?
The owner does the buying, and some of the paperwork.
Any special arrangements for the staff related to the Covid-19 pandemic?
We have trained people that is on standby to replace any staff member that contracts covid-19
When does the current lease end?
2023, the business owner, owns the building
What is the annual escalation %?
What are the trading hours?
Monday - Saturday 08H00 - 17H30
What is the square meters of the business?
320 sq meters
Is a copy of the lease available?
Available on request
Do you require a licence?
No licence is required
What lease deposit and/or other surety is required?
R20 000 per month and the deposit is the same.
What are the main assets of the business?
Computers & Computer system, Shelves, Security tag system with tags, Hangers and Size tags
Are any items not included in the sale?
The water cooling system. The maintenance thereof is for the tenant Stock (Stock will be available @ cost price) Shelves Camera & Security tag system with tags,
What is their overall condition?
Brand new layout and new computer system. The business was upgraded in 2021
Do any require repairing?
No repairs needed
How have they been valued ?
Which assets are on lease/HP and with whom?
Will Seller settle or Buyer to take over?
Buyer to take over
Are they presently insured?
Yes the business are insured
Good Business layout, Great area, exclusive merchandise, only trader in this area ,different departments (Sport, footwear, outdoors, formal & casual wear, linen, etc) Very loyal customer base
To keep up and ahead with the newest trends
eCommerce platforms Extend the stock range for traditional clothing, farmers clothing and work wear. Plenty of opportunity to grow the business even further with internet sales
Complacency and to not stock all the brands. That would leave a gap for other businesses to trade with those brands against this business
What is the reason for the sale?
The owner does have many other businesses currently that needs his attention.
Why is this a good business?
This is a excellent opportunity for someone to take over the business, because it has the potential to grow with new departments. There is no competition. A loyal customer base. Plenty of opportunity to grow the business even further with internet sales.
What is the price plus stock and the profit?
R 775 000.00 - Selling Price R 1 500 000.00 - Stock (Included) - See note under Assets R 77 500.00 - Commission R2 352 500.00 - TOTAL SELLING PRICE
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