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LocationSouth Africa, Gauteng

Sector - Retail

Asking Price
R3,520,000
Monthly Profit
R 134,491
Asset Value
R 998,314
Stock Value
R 1,000,000
Yearly Net Profit
R 1,613,888

Summary

Leading secondhand retail store with great cash flow.

Give me more information

Fully describe the business's activities?

This business sell second hand goods , loan money against goods (Cash Advance or Pawn-broking) and do short-term loans against a customer's next salary. This Franchise is part of the world's largest cash and Asset converter with an international network of more than 740 stores in 20 countries around the world.

How does the business operate on a daily basis?

The Manager starts at around 8H00 by transfer cash to the different tills. The Staff do all the start of day functions (such as accepting till balances , cleaning,etc) and at 9H00 the doors open for trading. During the trading hours the buyers do buys and cash advances from clients and the Sales persons sell new and second hand products to clients. The 1 staff member at the Personal Finance Division loans cash to customers according to the rules of the National Credit Provider . At 17H30 the staff do the Close of day Functions

What Advertising/Marketing is carried out?

Local Area Marketing consists of distributing pamphlets and adverting in local newspapers. The head office runs national television and social media campaigns.

What competition exists?

No direct competition in surrounding area.

How could the profitability of the business be improved?

Leveraging more on the Group’s Online store. This particular store has only been participating on the online store for 2 months. Other stores that joined the online shopping 12 months ago reported 15-20% growth in Turnover.

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

1 x manager
1 x assistance manager
3 x buyers.
2 x salesman
1 x cleaner

Do any have management potential?

Management structure in place.

How involved is the Owner in running the business?

50% involvement.

When does the current lease end?

2025

What are the trading hours?

Mon - Fri 9am to 6pm
Sat 9am to 3pm
Sun 9am to 1pm

What are the main assets of the business?

Full asset list available.

Strengths?

Great location with strong cash flow. Strong franchisor support.

Opportunities?

Greater owner involvement will increase profitability.

Threats?

None perceived.

What is the reason for the sale?

Owner wants to pursue other business interests.

Location

Contact | Enquire

Peter

Peter Kind

LocationSouth Africa, Gauteng

Preferred method of contact

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