History and Overview Of The Business
|
| Fully describe the business's activities |
Very busy Car Wash with licensed coffee shop for sale. The business is extremely well located next to a filling station in a residential area. The business has agreements with vehicle repair businesses and car rental companies, ensuring additional commercial income as well. The licensed coffee shop attracts additional business as customers can have something to drink and eat while they wait for their cars to be washed. Great return on investment. Extremely well run car wash with licensed coffee shop. The seller has increased business by getting commercial customers such as car rental agencies. |
| When was the business established? |
2008 |
| How long has the owner had the business? |
The current owner bought the business in 2011 |
How Does The Business Operate
|
| How does the business operate on a daily basis |
The business is run by skilled staff with a manager and an assistant. |
| How are the clients attracted to the business? |
The business is extremely well located in a residential area next to a filling station. The seller has canvassed additional business apart from walk in business. The licensed coffee shop attracts additional business as customers can have something to drink and eat while they wait for their cars to be washed |
| What Advertising/Marketing is carried out? |
None |
| Does the business have any contract work? |
There are arrangements with vehicle repair businesses and car rental agencies |
| What competition exists? |
None in close proximity
|
| Seasonal Trends? |
The business is busy throughout the year and it’s only quieter on rainy days, however they then come with their car later because of the rain. |
Financial Information
|
| Vat Registered? |
No |
| Vat Documentation on File? |
Not registered |
| Management Accounts? |
Yes |
| Audited Financials? |
No, only management accounts |
| What as Cash/Credit Split? |
70% is cash and 20% is card and 10% credit |
| Debtors Book Age Analisys |
30 days for 10% of Turnover |
| How can you improve the profitability? |
Marketing and introducing a loyalty program. Increase the store offerings along the lines of a convenience store as well as pizza slices, cigarettes, etc. |
| Is Seller Finance available and if so what is it? |
No, cash sale |
Staffing Of the Business
|
| What is the total number of Staff? |
13 staff members including the manager. |
| Staff Breakdown |
1 Managers, 2 Teams of 6 plus one extra |
| Staff Special Perks and Bonuses? |
No |
| Are the staff on Contract? |
No |
| Does any of the staff have management potential? |
Yes. Manager in place |
| How involved is the Owner in running the business? |
Owner spends about 1 hour per week in the actual business |
Premises Of the Business
|
| When Does the Current Lease ends? |
Lease end in Jan 2016 |
| Is there an option to renew? |
Yes for 1 years, thus 2017 and every year thereafter |
| What is the annual escalation % |
10% |
| What are the Trading Hours? |
Mon - Sun 7:00 - 17.30 pm, but because of the liquor license the option is there for the business stay open later to accommodate for people visiting the coffee shop |
| What is the square meters? |
|
| Is a copy of the lease available? |
Yes, on file |
| Do You require a license? |
Liquor license in place, but is in the name of the landlord. The seller pays a "royalty" of R1,500 pm for the use of the license (In the rent) |
Assets Of The Business
|
| Full Asset List available? |
Yes, owner will provide |
| Anything not included in the sale? |
No, everything is included |
| What is condition of the assets |
Good, none needs repairing |
| Any Assets on Lease/HP that Buyer needs to take over? |
No |
| Are they insured at the moment? |
Yes |
SWOT Of The Business
|
| STRENGHTS |
Well located and run business.
Liquor license
Store and restaurant |
| WEAKNESSES |
Owner cannot give it personal attention
Long hours
|
| OPPORTUNITIES |
Owner run
Marketing and advertising
Increased stock range
Open later to make better use of the liquor license |
| THREATS |
None identified
Lease
|
Summary
|
| Why is this a good business |
Well established , well run, well located business |
| Why is the owner selling it? |
Owner is busy with other ventures
|