Summary

20 yr Beauty College with stable income. Local & internationally accredited courses for school leavers & advanced knowledge. Already transferred from SETA to NQF basis. MA's will show monthly variations, while this Report shows annual averages.

Give me more information

Fully describe the business's activities?

This is a Beauty & Aesthetic College, fully certified by local & international organisations. It has completed the regulatory change from SETA to NQF.
It focuses on school leavers & enhancement of skills/qualifications for existing practitioners.
It operates in two major markets being Gauteng & Durban, through rented premises, with a GM, excellent staff, long-established (20 years) systems, processes & courses.

How does the business operate on a daily basis?

Potential clients enquiring in respect of courses, are assisted & signed up on pre- or payment- plans.
Existing clients attend lectures, as delivered by the Co's top lecturers.
The GM manages the business, specifically in respect of certifications, courses, systems, processes, finances, social media, etc

What competition exists?

There are many competitors, but very few with 20 years of experience, market knowledge, certifications, positive market perceptions.

Is the business VAT Registered?

No - as an educational institution

Are there up-to-date Management Accounts available?

AFS & Management Accounts are readily available & mirror each other.
This Report is based on the last 12 months MA's; noting that the last 2.5 years are very similar in turnover & profits.

What is the total staff complement?

Owner + 8 (being a GM, Manager, 4 lecturers & 2 cleaning staff - all employees)

How involved is the Owner in running the business?

The owner is only high investor level, while the GM is the day-to-day driver of the business, been involved with the certifications & NQF transfer & will be the person who realistically provides a purchaser, with input/ training/ introductions etc.
Thus a new owner does not need to be involved in the business, as the GM can competently control everything.

What are the trading hours?

Mon-Fri : 8h00-1600
Sat : 8h00-15h00

Do you require a licence?

No, but accreditations are with a number of local & international organisations, in the name of the PTY, so purchasing of the shares & loan account will ensure their continuance.
The move away from SETA historic qualifications to QCTO Occupational Qualifications has been fully completed over the last 3 years, providing future time to rather be allocated to growth vs administration.

Premises Detail

Gauteng and Dbn offices at a total of R38k pm incl VAT, with office, reception, & lecture rooms totaling.400m2 in total, with both having an escalation rate of 6%. Lease periods to 3years with extension options are available.

What are the main assets of the business?

Office & lecture room equipment, furniture & fittings which on a 2nd hand value sale basis may be worth some R150k, but R800k if replaced.

What is the reason for the sale?

Seller is retiring

Why is this a good business?

Local & international accreditations, strong industry reputation, decades of development of the academic, marketing & operational systems, operated by very competent GM-Manager-staff, in two main cities/markets of SA. A new owner may be like the seller & leave the business in the hands of the GM !