Sectors / Category

Annual turnover

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  • Mandate: 36217
  • Added: 19 Sep 2023
  • AFS
  • 1001

Second hand furniture shop

KwaZulu-Natal, Durban
1001
Mandate 36217
Added 19 Sep 2023
R 745,000* ZAR
Stock: R 350,000
Assets: R 198,230
R 37,682 ZAR
Nic Nortje
(PRINCIPAL)
Aldes Prestige
KwaZulu-Natal, Hillcrest
KwaZulu-Natal, Hillcrest
Summary

This business buys and sells second hand office furniture

Second hand furniture shop
SELLING PRICE AFS
R 745,000* ZAR
Stock: R350,000
Assets: R198,230
R 37,682 ZAR
Summary

This business buys and sells second hand office furniture

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please supply us with your details below

Fully describe the business's activities?
Buy & Sell 2nd hand office and household furniture, sourced from auctions, downsizing and/ or immigration.

How long has the business been established?
10 years

How long has the owner had the business?
Since inception

How does the business operate on a daily basis?
Buy stock - repair if necessary - advertise and sell items.

How are the clients attracted to the business?
Walk-inns: this is a very visible shop in a busy and prominent location; repeat customers and social media advertising.

What Advertising/Marketing is carried out?
FB page, FB marketplace & Watsap group

What competition exists?
Nobody else does second hand office furniture

Is the business VAT Registered?
Yes

Are there up-to-date Management Accounts available?
Yes

What Balance Sheet and Income Statements are available?
Past 3 years

What percentage of the business is cash/credit?
All cash

What is the age analysis of the debtors book?
No debtors book

How could the profitability of the business be improved?
Additional stock purchases throughout the year, therefore sell more using existing resources.

What is the total staff complement?
8

Give a breakdown of staff/ functions/ length of service?
1 Supervisor, 3 sales people, 4 labourers

Are they on contract?
Yes

Do any have management potential?
Yes 1 of the staff members

How involved is the Owner in running the business?
Day2Day operations

When does the current lease end?
Sep 2024

Is there an option of renewal & what period?
Yes

What is the annual escalation %?
8%

What are the trading hours?
Monday to Friday 8h30am to 4h30pm; Saturday 8h00 to 13h00

What is the square meters of the business?
approximately 800sqm, with option of another 450 that landlord has offered

Is a copy of the lease available?
Yes

Do you require a licence?
Yes, a 2nd hand trader license

What lease deposit and/or other surety is required?
R30 000 bank deposit

What are the main assets of the business?
racking, shelving, small tools & equipment, desks, computers

Are any items not included in the sale?
vehicles and a portion of the racking

What is their overall condition?
good

Do any require repairing?
no

How have they been valued ?
fair 2nd hand value

Are they presently insured?
Yes

Strengths?
High demand for 2nd hand goods, especially office furniture. Nobody else offering any real competition.

Opportunities?
Increase stock holding

What is the reason for the sale?
Relocating and semi-retiring as well as ailing health of owner

Why is this a good business?
This is an excellent business as it has a small staff complement, is easy to run, is simple and straightforward: buy and sell. The location is ideal. The landlord is conducive. And there is a lot of scope for expansion!

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AGENCY DETAILS

Aldes Prestige

2 members
11 mandates
KwaZulu-Natal , Hillcrest
2 Old Main Road, the Brook Block B, Suite3 , Gillitts.
Hillcrest
4016