History and Overview Of The Business
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| Fully describe the business's activities |
Accounting and Tax practice – services include payroll, statutory, consulting, client staff support. |
| When was the business established? |
2013 |
| How long has the owner had the business? |
Owner started the firm |
How Does The Business Operate
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| How does the business operate on a daily basis |
The key is maintaining reporting timelines for the customers. The day to day activities will involve fulfilling service level requirements, clients queries and tax queries by revenue authorities. |
| How are the clients attracted to the business? |
Word of mouth since inception, they do not advertise and they work with business partners who also recommend clients to them |
| What Advertising/Marketing is carried out? |
Word Of Mouth |
| Does the business have any contract work? |
They have service level agreements in place with some clients, so some are in writing and others verbal. Small community |
| What competition exists? |
Normal competition for the industry. Although there are other accountants etc. there is a shortage of skill and expertise. The majority of accountants there fulfil auditing function roles as auditors
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| Seasonal Trends? |
Financial year ends to run from July to June each year, most financial reporting happens between September and December each year. |
Financial Information
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| Vat Registered? |
VAT, note Swaziland. Vat returns available and on file |
| Vat Documentation on File? |
Yes |
| Management Accounts? |
Yes |
| Audited Financials? |
N/A |
| What as Cash/Credit Split? |
Credit |
| Debtors Book Age Analisys |
Most of clients up to date |
| How can you improve the profitability? |
The growth of clients, note that the only real high cost is the rental which comes to an end by 31 January 2020, which they currently split with their other business they selling as well. |
| 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?
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Owner and there are three staff. There is two admin staff one who does the running around to revenue authorities, commerce, etc and one office bound to deal with any queries, messages, phone calls and a junior bookkeeper who is being trained to fulfil some functions only. |
| Staff Special Perks and Bonuses? |
Standard benefits as per legislation |
| Are the staff on Contract? |
No |
| Does any of the staff have management potential? |
No |
| How involved is the Owner in running the business? |
The owner is actively involved and meets with clients on a regular basis |
Premises Of the Business
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| When Does the Current Lease ends? |
The current lease end 31 Jan 2020 |
| Is there an option to renew? |
Yes your choice |
| What is the annual escalation % |
6% |
| What are the Trading Hours? |
Office Hours |
| What is the square meters? |
75m2 currently |
| Is a copy of the lease available? |
Yes, on file |
| Do You require a license? |
Yes, a professional body, and a company trading licence, renewed yearly |
Assets Of The Business
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| Full Asset List available? |
You are buying the Clients & Going Concern. There is a full list of assets
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| Anything not included in the sale? |
No
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| What is condition of the assets |
Good |
| Any Assets on Lease/HP that Buyer needs to take over? |
N/A |
| Are they insured at the moment? |
No, replacement Value is Minimal |
SWOT Of The Business
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| STRENGHTS |
Well Established since 2013
Tax centric practice and planning for clients, limited expertise available there beside auditors, they are more SME focused practice |
| WEAKNESSES |
More resource needed to unlock more value
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| OPPORTUNITIES |
Expand
Auditing skills will bring growth
Value Added Services to existing clients |
| THREATS |
None Perceived
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Summary
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| Why is this a good business |
Swaziland (Eswatini) is a small and overlooked market, this is the reason the business was set up there, over 7 years ago they knew that they would be able to add value in the SME space. This practice has proved this. The people are great, the country lifestyle is great and relaxed. The tax legislation is based on SA legislation with a few variations. Ideal for your own Swaziland start or expansion or add-on. |
| Why is the owner selling it? |
The owner is retiring have been practising for a long time, emigrating to the UK at the end of 2019
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