Sector - Retail
This franchise is owner run & sells new and used items to the public. It also provides cash loans.Give me more information
Fully describe the business's activities?
This is a highly profitable franchised retail shop that deals in second-hand goods and also retails new merchandise. Secured loans are a big portion of their revenue stream. A new owner takes over a well-run business with the necessary processes, systems, and licenses in place. This business has a good cash flow, trained staff in place and is in a great location.
How does the business operate on a daily basis?
The business is managed daily by a Assistant Manager, the Owner and a full compliment of trained and long standing staff. Their clients are mostly walk-in clients and repeat customers. The Manager opens and closes shop.
What Advertising/Marketing is carried out?
The Franchisor manages the marketing and advertising on a national basis and every franchisee contributes 4% of their turnover to a marketing fund for the group. The Franchise agreement will be changing in October 2020 (or if a new buyer purchases this business before October) to 9% on GP which is far more beneficial than on turnover.
What competition exists?
Exclusivity is guaranteed in the lease agreement and therefore there is no direct competition in the area.
How could the profitability of the business be improved?
The addition of online sales could improve the profitability of this business.
Give a breakdown of staff/ functions/ length of service?
1 x Assistant Admin Manager; 2 x Cleaners; 2 x Repairs; 2 x Cashiers; 2 x Security; 2 x Buyers; 3 x Cashiers; 4 x Sales.
Do any have management potential?
Yes, all staff are on contracts.
How involved is the Owner in running the business?
The Franchisor requires that their stores are owner operated. The owner is involved in the overall management of the business and spends 2-3 days a week at the store.
When does the current lease end?
The current lease agreement ends June 2020.
What are the trading hours?
This business is open 7 days a week from 09h00 to 18h00 Mondays to Fridays and 09h00 to 13h00 weekends.
What are the main assets of the business?
A full list of assets is available to approved buyers.
- Ease of transition for new owner - the business has policies, procedures and excellent staff in place. - Comprehensive training for the new owner. - Excellent location with long term lease available. - Good business model - selling of new and secondhand goods, secured loans. - Strong and well-known brand. - Franchised systems make it easy to manage.
The business can take full advantage of online trading, looking at all products and services.
We could not identify any. This business is very stable.
What is the reason for the sale?
The Owner is preparing for retirement.
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