History and Overview Of The Business
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Fully describe the business's activities |
This is a sole practitioner SAIPA practice with a wide variety of clients and industries. The stable clients ensure a stable firm supported by productive staff.
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When was the business established? |
2000, 18 years |
How long has the owner had the business? |
Seller started it |
How Does The Business Operate
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How does the business operate on a daily basis |
Owner managed, competent staff with minimal supervision required. Systems in place for consistent workflow |
How are the clients attracted to the business? |
Word of mouth and normal growth of existing clients |
What Advertising/Marketing is carried out? |
Word Of Mouth |
Does the business have any contract work? |
Regular monthly clients, very constant cashflow |
What competition exists? |
Normal competition for the industry
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Seasonal Trends? |
Busier Tax Season |
Financial Information
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Vat Registered? |
Yes |
Vat Documentation on File? |
Yes, current and available |
Management Accounts? |
Yes |
Audited Financials? |
28 Feb 2018 AFS available |
What as Cash/Credit Split? |
99% on Credit |
Debtors Book Age Analisys |
90 days |
How can you improve the profitability? |
Expand the client base and introduce Value added services |
Is Seller Finance available and if so what is it? |
Yes, in line with selling accounting practices the seller will accept a 50% cash payment and subject to a proper hand over and turnover warranty the balance over a 12 month period to an APPROVED buyer. A structured deal will thus be considered. |
Staffing Of the Business
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What is the total number of Staff? |
Owner with three senior staff member, two intermediate staff on learnerships. |
Staff Special Perks and Bonuses? |
No |
Are the staff on Contract? |
Normal employment contract, except for two which are on a learnership contract |
Does any of the staff have management potential? |
Will be discussed with buyer |
How involved is the Owner in running the business? |
The owner is hands-on and currently integral to the practice |
Premises Of the Business
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When Does the Current Lease ends? |
Seller owns the premises, lease to be negotiated if you plan to stay. Building may also be purchased.
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Is there an option to renew? |
Yes your choice |
What is the annual escalation % |
To be discussed, but 8% is on the table |
What are the Trading Hours? |
Office Hours, currently a verbal agreement in place that work starts at 07:30 daily and then Fridays the firm closes at 14:30 |
What is the square meters? |
150m2 currently |
Is a copy of the lease available? |
To be discussed |
Do You require a license? |
You will have to register or be registered with a body like, SAIBA/SAIPA/SACIA |
Assets Of The Business
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Full Asset List available? |
Yes, will be provided. You are buying the Clients & Going Concern. Clients List & Office furniture/Equipment to support clients will be provided
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Anything not included in the sale? |
You are buying the Clients & Going Concern. Personal Effects to be excluded
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What is condition of the assets |
Good, all computer equipment were upgraded in March 2018 |
Any Assets on Lease/HP that Buyer needs to take over? |
N/A |
Are they insured at the moment? |
Yes |
SWOT Of The Business
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STRENGHTS |
Loyal, regular, distributed and diverse clients
Staffed with productive staff, high index on Benchmark Valuation
Established for 18 years |
WEAKNESSES |
None Perceived
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OPPORTUNITIES |
Absorb these clients into your own practice for immediate benefit and cost savings
Expand on this as a base, central premises as well
Value Added Services to existing clients
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THREATS |
None Perceived
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Summary
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Why is this a good business |
Historically consistent high profitability. Excellent historical client retention through dedicated client service. Staff is well versed in responsibilities and client needs. Consistent meeting of deadlines. Be quick or miss it!
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Why is the owner selling it? |
The owner is relocation and having a lifestyle change
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