History and Overview Of The Business
|
| Fully describe the business's activities |
Business sells wool and beads and offers classes in knitting and crocheting
There is a another store also available in an adjoining town |
| When was the business established? |
2015 |
| How long has the owner had the business? |
The owner started the business |
How Does The Business Operate
|
| How does the business operate on a daily basis |
The business is run by the staff with owners oversight |
| How are the clients attracted to the business? |
Word of mouth, the business is very well established |
| What Advertising/Marketing is carried out? |
Pamphlets, Facebook, Internet, etc. |
| Does the business have any contract work? |
None |
| What competition exists? |
There is one other Wool shop but it also sells various other items and is not dedicated |
| Seasonal Trends? |
The business peaks in winter, however the trend has moved to whole year now days as it is now fashionable and then there are the beads side for summer as well. |
Financial Information
|
| Vat Registered? |
No, but the turnover is such that it should be and the figures have been adjusted to compensate for this and reflect as if the business was registered to get the true understanding of the profitability. |
| Vat Documentation on File? |
None |
| Management Accounts? |
Yes |
| Audited Financials? |
None |
| What as Cash/Credit Split? |
60% - Cash, seller uses this to pay suppliers, rent and wages and can therefore be verified
40% - Card |
| Debtors Book Age Analisys |
None |
| How can you improve the profitability? |
Larger stock variety, add scrap booking and other hobby type activities, add classes and embroidery |
| Is Seller Finance available and if so what is it? |
The seller may under their discretion consider some seller financing but a substantial deposit would be required. |
Staffing Of the Business
|
| What is the total number of Staff? |
2 Staff members |
| Staff Breakdown |
The staff are basically jack of all trades and do everything required in the shop |
| Staff Special Perks and Bonuses? |
Staff receive discount on purchases and are allowed to sell small items they manufacture themselves. |
| Are the staff on Contract? |
Yes |
| Does any of the staff have management potential? |
The staff are already managing the shop for the seller |
| How involved is the Owner in running the business? |
Very involved ion the decorating of the windows and with the classes presented in the shop. Then the seller helps out when need in the shop and does recommend a more hands on type of buyer. |
Premises Of the Business
|
| When Does the Current Lease ends? |
Has already ended and is now on a month to month basis which is preferable as there is a new centre you may wish to move to coming |
| Is there an option to renew? |
|
| What is the annual escalation % |
10% but not this year |
| What are the Trading Hours? |
09:00-17:00 Monday to Friday
09:00-13:00 Saturday
Closed Sundays and Public holidays |
| What is the square meters? |
100m² |
| Is a copy of the lease available? |
Yes |
| Do You require a license? |
No |
Assets Of The Business
|
| Full Asset List available? |
Will be on the asset list |
| Anything not included in the sale? |
No |
| What is condition of the assets |
Very good |
| Any Assets on Lease/HP that Buyer needs to take over? |
No |
| Are they insured at the moment? |
Yes |
SWOT Of The Business
|
| STRENGHTS |
Very well established and known business, Lots of feet in the shopping centre, by the PnP |
| WEAKNESSES |
Economy |
| OPPORTUNITIES |
Additional stock and variety, More classes and interest such as sewing, fabric painting, embroidering, etc. |
| THREATS |
None identified |
Summary
|
| Why is the owner selling it? |
Seller is tired and looking for a change |