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Business For Sale

BUSINESS FOR SALE OVERVIEW

Furniture Business For Sale
Accounting Practice For SaleThis accounting practice will do wonders with an auditor joining its ranks to exploit the requirement with an auditor now in area.  Various additional income stream in this town but also in the neighbouring town will open up.  The area has a heavy farming community and is close to the Vaal Triangle allowing you access to those clients as well








Fitment Centre For SaleSELLING DETAILS

Selling Price

550,000

Turnover pm

45,000

Stock

0

Profit pm

11,640

Total Asking Price

550,000

Net Assets Incl.





Pretoria Business For Sale



MANDATE REPORT

1. History Background

Fully describe the business's activities

This practice compiles Financial Statement, manages Tax and VAT, register companies, do annual returns and PAYE for a range of clients in the surrounding area and Town. Opportunity exists to expand with the assistance of an Auditor as a new shareholder. The practice has 50 clients.

How long has the business been established?

Since 2010

How long has the owner had the business?

.The current owner started the practice 5 years ago

What steps are in place to solve "load shedding" problems

N/A

2. Present Market

How does the business operate on a daily basis

Staff does the work, like capturing and compiling information up to trial balance.  The owner checks the work and discuss the information with the clients

How are the clients attracted to the business

Word Of Mouth

What Advertising/Marketing is carried out

They have a website but use Facebook as marketing tool

Does the business have any contract work

No, but the practice does have regular clients built up over the last 5 years.  These clients are loyal to the practice

What competition exists

The area has 2 auditors, but 1 has died leaving a gap in the market.  There are 2 other accountants in the area

What are the seasonal trends

Normal for accounting practices

3. Financial

Is the business VAT registered?

No

What VAT documentation is on file?

Yes

Are there up to date Management Accounts available?

Yes.

Balance Sheet and Income Statements?

2012,2013 and also 2014

What Percentage of the business is cash/credit?

They Invoice on completion of work, and clients pays after 30 days

Age Analysis?

Debtor book is 60 days

How can it be more profitable

The clients base can be expanded from the 50 current clients without increase in staff. Opportunity also exist for auditing work in the area and a partner will be able to assist with that,

Seller Finance available?

No

4. Staffing

What is the total staff complement?

3 x Full Time, 1 x 3 days per week, 1 x 1 day per week

Staff Breakdown and length of service

Secretary - Debtors Invoicing, CIPC, UIF, admin of office.
IT Clerk - Compiling of financials, PAY Monthly and recons
VAT Clerk - Capture data on Pastel, submit VAT returns etc
Filing Clerk - 3x per week, filling and Compensation fund
Debtors Clerk - 1 x Per/Week. Collection of debt on Commission Basis

Do any receive special perks, bonuses or incentives?

No

Are they on contract?

Yes,

Do any have management potential?

Yes - IT Clerk

How involved  is the Owner in running the business

The owner is hands on.

5. Premises

When does the current lease end?

Oct 2015

Is there an option of renewal & what period

Yes, renew yearly

What is the annual escalation %?

10%

What are the trading hours?

07:30 - 16:30 (Mon - Thu) Closed for lunch 1300 to 1400
07:30 - 16:00 (Mon - Fri) Closed for lunch 1300 to 1400

What is the square meterage of the business?

100m2

Is a copy of the lease available?

Yes.

Do you require a licence?

Yes, needs to be registered, ie SAIT, SAIPA,SAICA etc

6. Assets

Is a full asset list on file?

Yes

Are any items not included in the sale?

No

What is their overall condition?

Good.

Do any require repairing?

No

How have they been valued?

Book Value

Which assets are on lease/HP and with whom?

N/A

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?

Yes

7. S.W.O.T. Analysis

Strengths

Established, low competition, technology means they can expand to other towns using their infrastructure and excellent service and reputation

Weaknesses

Slow paying debtors

Opportunities

Auditing firm closed end of Dec 2014 (owned passed away) and the town has a need

Threats

Out of town accountants trying to get clients in town

8. Reason For Selling

What is the reason for the sale?

Wants to expand with a partner with expertise

9. Conclusion

Why is this a good business to buy?

Established practice, with good clients and experienced staff, as example the IT Clerk has 14 years experience.




 

ACCOUNTING PRACTICE FOR SALE

Reference - R150308
 


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