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LocationSouth Africa, KwaZulu-Natal

Sector - Sales & Services

Asking Price
R855,000
Monthly Profit
R 26,264
Asset Value
R 0
Stock Value
R 5,000
Yearly Net Profit
R 315,162

Summary

Business has been owned by the Seller for 28 years

Give me more information

Fully describe the business's activities?

Placements of both Temporary and Permanent staff into regular commercial and Industrial Companies. The business has been owned by the Seller for the past 28 years and it has developed very good working relationships with many commercial and industrial business, mainly situated in the southern areas of Durban. The business receives enquiries from established clients and internet searches and word of mouth referrals, The business is registered with Lexis Nexis which enables them to conduct all necessary integrity checks.

How does the business operate on a daily basis?

Staff receive the calls and requests from both new and existing clients. They then search their database for qualified personnel and if required will advertise on social media and other search engines for the right qualified people. CV'S are perused and interviews are set up. Placements are arranged for both Temporary and Permanent positions.

What Advertising/Marketing is carried out?

Social media platforms are utilized.

What competition exists?

There are a few other recruitment companies in the area, but most of them last a short time as they are unable to compete successfully.

How could the profitability of the business be improved?

Expansion into "satellite" branches could be considered, mainly to service new industrial or commercial areas.

Give a breakdown of staff/ functions/ length of service?

Both staff members have been trained and have years of experience with the company.

Do any have management potential?

Yes The "full day" staff member has management potential

How involved is the Owner in running the business?

The owner is very "hands on" in the business and controls all the financial aspects of the company, plus overseeing all client relationships and on going placements.

When does the current lease end?

This is a work from home business. The owner has modified a separate building on her property and created an office setup for the business to be housed in. This office space has a separate entrance.

What are the trading hours?

0800 TO 1630 hrs. 5 days a week

What are the main assets of the business?

Assets are mainly computers and software programs, furniture, filing cabinets and a switchboard system. All assets go with the sale of the business.

Strengths?

Prior to the current owner buying the business it had been established and was a going concern for 15 years. The business therefore has a 43 trading history, which is attractive to the industrial and commercial client base. The business is well known and provides quality and professional service to the client base. The business can be moved into other areas, but the clients are all "South Durban" based. The owner is prepared to provide on going consultancy services to the new owner for an agreed period of time.

Weaknesses?

Most of the client base is "South Durban" based, so a potential buyer would need to be able to provide services to this well established client base. A second branch could be initiated in the "North Durban" areas if so desired.

Opportunities?

New industrial/commercial areas are being developed all the time and the new owner could encapsulate these companies into the business's activities, thus creating new revenue steams.

Threats?

No real negatives in the development of this business's activities.

What is the reason for the sale?

The owner wishes to retire, but will consider a consultancy contract with the new owner, if required to do so. This will be negotiated when a potential buyer has completed the due diligence process.

Location

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Ian

Ian Reich

LocationSouth Africa, KwaZulu-Natal

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