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PROFILE |
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Description: |
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It is located in a shopping centre in an affluent residential area with a captive customer base. There is huge potential to grow the business with a delivery service and the incorporation of another shop next door.
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Industry / Sector: |
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Retail - Store |
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LOCATION |
| State / Province: |
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Western Cape RSA |
| City / Town: |
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Cape Town |
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Location / Area: |
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Northern Suburbs |
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Metro Proximity: |
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Cape Town. It should be possible to commute from this metro city to the business location. |
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Portability: |
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Zero Portability - This business can only operate from the area specified. There is no potential whatever for it to be relocated elsewhere.
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PRICE |
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Asking Price: |
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R 10 175 000
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| Conditions: |
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Price exclude Stock |
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FINANCIAL & OPERATING INFORMATION |
| Turnover: |
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R 5 300 000 per month
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| Profit: |
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R 220 000 per month
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| Annual Return: |
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26
% per annum
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| No. of Staff: |
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20 |
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Year Established: |
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2010 |
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Legal Persona: |
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Close Corporation |
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Other Information: |
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GENERAL OPERATIONS
At SPAR they continuously strive to achieve the highest standards of quality in all areas, from warm and dedicated service to all of their products, with the objective of consistently meeting the individual needs of every customer in a caring and homely environment.
PREMISES
A combined trading area of approximately 560m² with total space of 800m².
ASSET STRUCTURING
Business is sold with all required assets intact.
PROPERTY MIX
The business is located within a medium sized shopping center with a petrol station as one of the tenants.
STOCK VALUATION
The business is sold exclusive of fast moving business stock to the approximate value of R3 million valued at cost VAT excluded.
STAFFING
Full competent staff complement would transfer with the transaction.
NEW OWNER'S SKILLS and EXPERIENCE REQUIREMENT
Would be preferable for the new owner to have retail skills but the seller will stay on for a period and Spar will provide training.
MARKET and CUSTOMERS
Business located in a middle to high LSM area with little competition.
OPPORTUNITY for GROWTH
Business can be expanded as there is another retail space available next to the business.
LIFESTYLE ISSUES
Trading hours - Kwikspar:.
- Mon-Fri: 07h00-20h30; Saturday: 07h00-20h30; Sunday: 07h00-20h30; Public Holidays: 07h00-20h30;
- Open from 07h00-14h00 on Christmas Day.
Trading hours - Tops:.
- Mon-Fri: 09h00-20h00; Saturday: 09h00-20h00; Sunday: 11h00-18h00
REASON FOR SALE
Personal reasons which will be divulged to a serious buyer.
NON-DISCLOSURE AGREEMENT
A prospective purchaser will be required to sign an NDA before any further details will be released.
AVAILABILITY of AUDITED FINANCIALS
Full disclosure of financials upon receipt of NDA.
DUE DILIGENCE
Buyer will be afforded opportunity to conduct full Due Diligence.
SALE CONDITIONS
Prospective buyer must bring 50% of the purchase price in unencumbered funds to the table.
PROOF of FUNDING REQUIREMENT
A potential buyer needs to demonstrate that they have access to the required unencumbered cash funds to finance the cash transaction portion of this purchase.
The seller will not provide any documentation, business details or financials and will not accept any offer unless the proof of funding has been provided.
HANDOVER ARRANGEMENTS and TRAINING
There will be a stay-on period and/or pre-handover training.
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