Ref. No - BFS936579

LocationSouth Africa, KwaZulu-Natal

Ref. No - BFS936579

Sector - Retail

Asking Price
R1,500,000
Monthly Profit
R40,385
Asset Value
R 370,000
Stock Value
R 500,000
Yearly Net Profit
R 484,622

Summary

A great little business with lots of potential in a well located, busy area in the CBD. The business has been established for the last 25 years and carries a good reputation in the town for its trusted service and quality of products.

Give me more information

Fully describe the business's activities?

Buying and selling second-hand goods including tools and second-hand furniture. Pawning of items and vehicles.

How does the business operate on a daily basis?

The owner opens and closes the business daily. The manager on the floor supervises the two salesmen on the floor. The salesmen are incentivized by their sales, improving turn-over and the service.
The owner controls all the stock as well as the finances and purchasing of items. He also gets involved with dealing with clients and making them feel welcome.
This Pawnbroker offers short-term secured loans where customers pledge valuable items as collateral, recieving the cash based on the item's worth, and can reclaim the item by repaying the loan with interest. If the loan isn't repaid, the pawnshop retains the collateral for resale.

What Advertising/Marketing is carried out?

No advertising or marketing at present.

What competition exists?

Cash Crusaders, Cash Converters and the One Stop Pawn Shop.

Do any have management potential?

The floor manager has potential.

When does the current lease end?

In two years.

What are the main assets of the business?

Shelving, office furniture including all the equipment. There is also a camera system.
LDV bakkie, 2006 Toyota and trailer for deliveries.

Strengths?

Highly favorable location.

Weaknesses?

Need to upskill the staff so the business is not so reliant on the owner.

Opportunities?

With the correct advertising in place the business could potentially grow and very quickly.

Threats?

There are three other pawn shops in the area. This can be overcome with focusing and specializing in other products and advertising.

What is the reason for the sale?

The owner is in his late seventies and would like to retire.
Location

Contact | Enquire

Warren

Warren Mitchell

LocationSouth Africa, KwaZulu-Natal

Preferred method of contact

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