Sector - Sales & Services
Fragrance products, bottled and packaged for internal utilizationGive me more information
Fully describe the business's activities?
Fragrance products are manufactured, bottled and packaged for two main retail outlets, namely retailed at a selected weekend market, and also supplied to established retail stores. 50% of the revenue is derived from each of these outlets.
How does the business operate on a daily basis?
The business wholesales to retail stores, and to an appointed vendor, down the south coast, who retails these at a weekend market in that specific area. The products are manufactured by the owner every afternoon throughout the week and are prepared for distribution to the selected retail outlets. The secondary outlet is at at a selected retail opportunity which operates only on a Saturday morning at a popular and busy market. The owner spends afternoons each day manufacturing the fragrances utilizing a sourced ingredient from overseas. Once ready the products are bottled, packaged and warehoused, ready for distribution. Delivery takes place throughout the week.
What Advertising/Marketing is carried out?
No formal advertising is done
What competition exists?
There are other companies who "mass produce" similar products, but these are generally inferior or more expensive. The "hand made" product range of this company is more appealing to the known outlets.
How could the profitability of the business be improved?
A strategic development of Pharmaceutical wholesalers will escalate the business. Casual workers will then be required to assist in the manufacture of the product ranges in order to increase the stock holdings.
Give a breakdown of staff/ functions/ length of service?
Do any have management potential?
How involved is the Owner in running the business?
The owner is extremely hands on in all aspects of the business.
When does the current lease end?
Manufacturing is home based in a small room attached to the homestead. The market stall is on a month to month rental basis.
What are the trading hours?
Weekend market hours determine the stall hours.
What are the main assets of the business?
Shelving, trolley, assorted tables and table cloths, laboratory equipment, glass storage containers, aluminium storage containers, filing cabinet (used as a rebate store)
Manufacturing is home based. Week day hours are flexible, and is owner run so no staff costs. Inter action with clients and customers at the market is beneficial as they refer cotact details for new customers, and they all like to "meet the manufacturer"
Currency fluctuations, but everyone in business understands this and many other business people have the same issues. If the business expands then a new premises might be a requirement, as well as employing some extra staff.
Develop a new marketing strategy to incorporate new retail outlets as well as focussing on pharmaceutical outlets. Look at weekend markets elsewhere in the Durban/KZN areas. Website optimisation and other online social media advertising to increase repeat sales.
Local other manufacturers may try to undercut the wholesale retailers prices, but quality service and quality products always attract serious buyers. Buying quality raw materials will maintain the quality required in the the product ranges that are on offer.
What is the reason for the sale?
Owner is either relocating to another Province or is looking at emigrating
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