Sector - Retail
Established business, showroom in Gauteng with loyal custormer base, successful online store as well with large social media followingGive me more information
Fully describe the business's activities?
This is an interior decor business. All their furniture is locally manufactured and they also manufacture custom made furniture. They are stockists of unique and different interior and decor products. Their interior design and fabric has been designed to last a lifetime. The natural and aesthetic approach taken as well as the individual attention paid to each item allows for the creation of each custom made item to be designed in accordance with the needs of the client at the time. Care and diligence is taken with each item.
How does the business operate on a daily basis?
The business has a large upmarket showroom, close to 400 m². The business has a successful online store with a extensive social media following. Clients can custom design their furniture or order designs from the floor. Manufacturing of furniture takes between 4 to 6 weeks. Interior decorating services are also offered. A wide variety of high quality solid wood is used. The shop caters for the middle to high income market.
What Advertising/Marketing is carried out?
Marketing is focused on Social Media and Google. A person focused on marketing is employed by the business.
What competition exists?
A number of smaller interior design shops.
How could the profitability of the business be improved?
Expanding on the standardised product ranges.
Give a breakdown of staff/ functions/ length of service?
2 x sales executives
Online sales orders manager
2 merchandising staff
Do any have management potential?
Yes, there is a manager in place.
How involved is the Owner in running the business?
The owner is involved in the business, but a strong team has been employed with commission structures to drive sales and services. The team includes executive account managers as well.
When does the current lease end?
In 2 years.
What are the trading hours?
9 to 5 seven days a week.
What are the main assets of the business?
The business has a very loyal client base as well as a strong online presence. The shop's brand is well known and loved. The quality of products are of a very high standard with no unhappy customers exist as any problems are dealt with and resolved. Quality and client service are non-negotiable for the the owner and staff. All furniture is locally manufactured which enables the business to produce within short turnaround times.
Opportunities exist to expand the brand by opening more showrooms across the country - replicating the Gauteng showroom/ shop's success.
Limited threats. Most of their competitors import which gives this business a competitive edge in a Covid environment as all manufacturing happens locally.
What is the reason for the sale?
The owner is looking to make a lifestyle change. He has spent many successful years in the retail environment and would like to move into a different industry.
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