"Selling your business is our business"
"Selling your business is our business"
Fully describe the business's activities?
Granolithic tombstones originate in the USA and have become very popular. The franchise has been manufacturing Granolithic tombstones locally for the last 10 years, and supplying it to clients via its own shops. Its growth has accelerated to the point where there is a national demand, and the company has elected to service this demand via franchised outlets. This franchised outlet has been in operation for 5 years. Being a franchisee means the buyer will be supplied with everything necessary to trade, including amongst other things, furniture, computers, business cards and pamphlets, signage, branded uniforms and stock. There are three factories around SA to service our retail franchises.
Granolithic tombstones are three times thicker than granite giving it a much bigger impressive look at a fraction of the price of granite hence giving a competitive edge. Tombstones are available in different colours as per clients request which the granite market cannot. Overall this Tombstone business has bigger, brighter tombstones at a cheaper cost. Due to the market is South Africa and Africa where our cultures still place a high importance of Tombstones, we have a definite market which is not affect by the economic environment as this is something most people will not do without due to the its significant importance.
How long has the business been established?
5 years
How does the business operate on a daily basis?
Customers walk in and place an order for a tombstone. The order is placed with the factory, which manufactures the tombstone and installs it.
How are the clients attracted to the business?
Word of mouth.
What Advertising/Marketing is carried out?
Central advertising by the Franchisor.
What competition exists?
Most competitors sell granite and/ or marble tombstones, which are much more expensive.
Are there up-to-date Management Accounts available?
Yes
What Balance Sheet and Income Statements are available?
AFS Feb 2023
What is the total staff complement?
3
When does the current lease end?
Nov 24
Is there an option of renewal & what period?
Yes, 3 years
What is the annual escalation %?
6%
What are the trading hours?
Monday to Friday 09hoo to 17hoo
Saturday 09hoo to 14hoo
What is the square meters of the business?
75
Is a copy of the lease available?
Yes
Do you require a licence?
No
What lease deposit and/or other surety is required?
One month's deposit
What are the main assets of the business?
Office equipment and samples
What is their overall condition?
Good
Do any require repairing?
No
Which assets are on lease/HP and with whom?
None
Are they presently insured?
Yes
Strengths?
Unique product in high demand with little opposition.
Weaknesses?
Franchised business
Opportunities?
Room for growth with many churches, stokvels and groups still to market to in the area.
Threats?
An essential product so no threats.
What is the reason for the sale?
This is one of the company stores, which the Franchisor is selling to enable it for focus on the group's expansion plans
Why is this a good business?
Death is a certainty and the majority of people still prefer to bury their loved ones, rather than cremate, for which a tombstone is essential. This is one of the oldest franchise outlets and is very well established, with an excellent RoI of almost 50%!
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