"Selling your business is our business"
"Selling your business is our business"
Fully describe the business's activities?
Mercedes Benz workshop and diagnostic centre. RMI accredited. Situated on the East Rand.
How long has the business been established?
The business was established in 2001 and has therefore been operating for 21 years.
How long has the owner had the business?
The current owners purchased the business in 2013 and have therefore owned it for 9 years.
How does the business operate on a daily basis?
There are two owners and a workshop manager in place who opens and closes.
How are the clients attracted to the business?
Social media and Facebook are used for attracting clients to the business.
Does the business have any contract work?
The business has returning customers with the Vito and Sprinter vehicles being good for business.
What competition exists?
The closest competition is some distance away from this business.
What are the seasonal trends?
End of year before the start of school holidays and January are normally good months.
Is the business VAT Registered?
Yes, the business is VAT registered.
What VAT documentation is on file?
Normal VAT returns and recons are on file.
Are there up-to-date Management Accounts available?
Yes.
What percentage of the business is cash/credit?
The business is run mainly on a cash and card basis.
How could the profitability of the business be improved?
The marketing of the business can definitely be improved immediately which will translate into more customers and sales.
What is the total staff complement?
There are 4 members of staff other than the two owners.
Give a breakdown of staff/ functions/ length of service?
2 x Technicians, 1 x manager, 1 x cleaner.
Are they on contract?
Yes, they have letters of appointment.
Do any have management potential?
There is a manager in place.
How involved is the Owner in running the business?
The owners are also involved in the business.
When does the current lease end?
The current lease is month-to-month. The landlord is a good client of the business.
Is there an option of renewal & what period?
This can be negotiated with the landlord.
What is the annual escalation %?
The current escalation is at about 8%.
What are the trading hours?
Monday to Friday: 8.00 am to 5.00 pm.
What is the square meters of the business?
About 600 square meters.
Do you require a licence?
The business is RMI accredited. The car lifts/hoists have certification.
What are the main assets of the business?
Lifts/hoists, diagnostic equipment, tools, work benches, office desks and chairs, computer equipment.
What is their overall condition?
Good.
Which assets are on lease/HP and with whom?
None are on lease or HP.
Are they presently insured?
Yes, the business is insured.
Strengths?
Well-known. Word-of-mouth and referrals is strong. Little to no competition in the area.
Weaknesses?
Marketing can definitely be improved immediately which will translate into more customers and sales.
Opportunities?
Push sales and marketing. Move into other brands such as Audi, BMW, VW, Opel - German Car Specialists. Commercial vehicles can be big earners - Vito, Sprinter and VW commercial vehicles.
Threats?
Normal economic conditions but this means people move away from dealers and move to independent RMI workshops such as this.
What is the reason for the sale?
The owners have found a new venture they wish to move into and believe new owners with fresh vision can take this business to the next level.
Why is this a good business?
Well-known. Referrals and repeat business. Little to no competition in the area. Can move into other brands.
What is the price plus stock and the profit?
The asking price is R1.1 million. Cash flow accruing to owners via profits, salaries and drawings is about R984000 per annum.
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