History and Overview Of The Business
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Fully describe the business's activities |
This practice is a well-established firm, The firm is stable with of track record of 20 years. The firm does normal Accounting & Tax Services
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When was the business established? |
1998 |
How long has the owner had the business? |
Since 2015 |
How Does The Business Operate
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How does the business operate on a daily basis |
Staff do majority of the work with the owner reviewing the work |
How are the clients attracted to the business? |
Word of mouth, excellent location |
What Advertising/Marketing is carried out? |
Word Of Mouth, advert in business directory of area |
Does the business have any contract work? |
Regular monthly clients forms the nucleus of this firm |
What competition exists? |
Normal competition for the industry
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Seasonal Trends? |
There is a bit of more work to complete during tax season. Jan and February with annual year ends are obviously busier. August for the provisional tax is also busier |
Financial Information
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Vat Registered? |
Yes |
Vat Documentation on File? |
Yes, current and available |
Management Accounts? |
Current management accounts available |
Audited Financials? |
N/A |
What as Cash/Credit Split? |
Credit, Terms of 30 days |
Debtors Book Age Analisys |
Mostly 60 days |
How can you improve the profitability? |
Improving efficiencies in the practice and growing it. |
Is Seller Finance available and if so what is it? |
Yes, in line with selling accounting practices the seller will accept a 50% cash payment and subject to a proper hand over and turnover warranty the balance over a 12 month period to an APPROVED buyer. A structured deal will thus be considered. Please note the seller will not extend this option unless certain guarantees are in place. |
Staffing Of the Business
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What is the total number of Staff? |
4 staff members that exclude the owner. |
Staff Special Perks and Bonuses? |
No |
Are the staff on Contract? |
No |
Does any of the staff have management potential? |
No |
How involved is the Owner in running the business? |
The owner is hands-on. |
Premises Of the Business
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When Does the Current Lease ends? |
Renegotiated lease for 3 years since 01/12/2017 with option to renew |
Is there an option to renew? |
Yes your choice |
What is the annual escalation % |
12% |
What are the Trading Hours? |
Office Hours,
Monday to Thursday 8h00 – 16h30,
Friday 8h00 – 13h00
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What is the square meters? |
|
Is a copy of the lease available? |
Yes, on file |
Do You require a license? |
Yes, you will have to be registered with a professional body like SAIBA/SAIPA/SAICA/SAIT/ACCA etc |
Assets Of The Business
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Full Asset List available? |
Yes, will be provided |
Anything not included in the sale? |
Personal items
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What is condition of the assets |
Good |
Any Assets on Lease/HP that Buyer needs to take over? |
N/A |
Are they insured at the moment? |
Yes |
SWOT Of The Business
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STRENGHTS |
Well Established more than 20 years
Loyal Clients
Good Staff
Visible location
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WEAKNESSES |
None Perceived
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OPPORTUNITIES |
Expand Client Base |
THREATS |
None Perceived
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Summary
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Why is this a good business |
Well established and well run practice with good staff and long standing loyal clients. Seldom will you have the opportunity to buy a practice here. |
Why is the owner selling it? |
The owner is emigrating but will ensure a smooth handover for 12 months.
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