"Selling your business is our business"
"Selling your business is our business"
Fully describe the business's activities?
The business buys clothing items from suppliers and sells them to customers. The clothing includes items such as shirts, pants, jackets and other fashion accessories. The business is responsible for selecting stock, purchasing inventory, pricing products, displaying clothing in the store and selling them to customers. They also provide customer service, manages payments, keeps financial records, and ensures that stock levels are maintained. The goal of the business is to meet customer clothing
needs
How long has the business been established?
Since 2018
How long has the owner had the business?
Since inception
How does the business operate on a daily basis?
The business operates daily by opening the store, assisting customers, and selling clothing items. The owner and staff help
customers choose clothes, process payments, and keep the store clean and organised. New stock is ordered from suppliers when
needed, and the business keeps records or sales and purchases. The store operates very well and provides good service to customers.
How are the clients attracted to the business?
Through good customer service, quality products and affordable prices. They also use Word of Mouth, social media and attractive in-store displays. Friendly service creates the required shopping experience that keep customers coming back.
What Advertising/Marketing is carried out?
Word of Mouth, social media and attractive in-store displays. They advertise specials and discounts by using flyers and posters
Does the business have any contract work?
No
What competition exists?
NONE
What are the seasonal trends?
No direct competition, but there is another store that sells more sport clothing items.
Is the business VAT Registered?
Yes
What percentage of the business is cash/credit?
All sales are for cash or buyers use a credit card. No sales on credit
How could the profitability of the business be improved?
Activate website to offer online sales
Is Seller finance available and for what amount?
No
What is the total staff complement?
2
Give a breakdown of staff/ functions/ length of service?
Floor assistant and cashier
Do any receive special perks or incentives?
No
Are they on contract?
Yes
How involved is the Owner in running the business?
The business is owner operated and managed
Is there an option of renewal & what period?
Yes
What is the annual escalation %?
7%
What are the trading hours?
9:00-17:00
What is the square meters of the business?
120 Squares
Is a copy of the lease available?
Yes
Do you require a licence?
No
What lease deposit and/or other surety is required?
None
What are the main assets of the business?
Typical clothing store assets like rails, racks, a computer and alarm/CCTV system
Are any items not included in the sale?
No
What is their overall condition?
Excellent
Do any require repairing?
No
Which assets are on lease/HP and with whom?
None
Are they presently insured?
No
Strengths?
Only shop like this in the area
Weaknesses?
No website
Opportunities?
Create website that can be used to sell products
Threats?
None identified
What is the reason for the sale?
Owner has other business interests
Why is this a good business?
Loyal customer base in a small town with a unique product offering. It is well known and serves the surrounding farming community. Sales can only grow if the website is developed and set up to sell outside of the town
Annual Turnover Amount between R 500 thousand and R 6 million
