History and Overview Of The Business
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| Fully describe the business's activities |
This practice compiles Financial Statement, manages Tax and VAT, register companies, do annual returns and PAYE for a range of clients in the surrounding area and Town. The clients are also for sale outright. The practice has 50 clients. Opportunity exists to expand with the assistance of an Auditor as a new owner. The current owner has accepted full time employment. |
| When was the business established? |
2010 |
| How long has the owner had the business? |
The current owner started the practice in 2010 |
How Does The Business Operate
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| How does the business operate on a daily basis |
Staff does the work, like capturing and compiling information up to trial balance. The owner checks the work and discuss the information with the clients |
| How are the clients attracted to the business? |
Word Of Mouth |
| What Advertising/Marketing is carried out? |
They have a website but use Facebook as marketing tool |
| Does the business have any contract work? |
No, but the practice does have regular clients built up over the last 5 years.
These clients are loyal to the practice |
| What competition exists? |
Normal
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| Seasonal Trends? |
Busier In Tax Season |
Financial Information
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| Vat Registered? |
No |
| Vat Documentation on File? |
Not registered |
| Management Accounts? |
Yes |
| Audited Financials? |
Yes, 2012,2013,2014 |
| What as Cash/Credit Split? |
100% credit, invoice when work is done, payment in 30days from statement |
| Debtors Book Age Analysis |
60 days |
| How can you improve the profitability? |
Increase the clients and services offered |
| Is Seller Finance available and if so what is it? |
Yes, as per standard for Accounting Practices |
Staffing Of the Business
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| What is the total number of Staff? |
3 staff members, one is a contract worker |
| Staff Breakdown |
3 staff member does all the work from capturing, preparing of statements |
| Staff Special Perks and Bonuses? |
The contract worker works om commission basis |
| Are the staff on Contract? |
Yes |
| Does any of the staff have management potential? |
No |
| How involved is the Owner in running the business? |
Hands On |
Premises Of the Business
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| When Does the Current Lease ends? |
Ongoing |
| Is there an option to renew? |
Yes for 1 years, thus 2017 and every year thereafter |
| What is the annual escalation % |
10% |
| What are the Trading Hours? |
07:30 - 16:30 (Mon - Thu) Closed for lunch 1300 to 1400
07:30 - 16:00 (Fri) Closed for lunch 1300 to 1400 |
| What is the square meters? |
100m2 |
| Is a copy of the lease available? |
Yes, on file |
| Do You require a license? |
You have to register or be registered with one of the professional bodies like SAIBA/SAIPA/SAICA etc. |
Assets Of The Business
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| Full Asset List available? |
Yes, owner will provide |
| Anything not included in the sale? |
No, everything is included |
| What is condition of the assets |
Good, none needs repairing |
| Any Assets on Lease/HP that Buyer needs to take over? |
Yes the printer for R1,500 per month |
| Are they insured at the moment? |
Yes |
SWOT Of The Business
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| STRENGHTS |
Established, Low Competition
Base to expand into the area |
| WEAKNESSES |
Slower paying debtors
|
| OPPORTUNITIES |
Expand service offering |
| THREATS |
None identified
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Summary
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| Why is this a good business |
Established practice, with good clients and experienced staff |
| Why is the owner selling it? |
Owner is accepting full time employment
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