"Selling your business is our business"
"Selling your business is our business"
Fully describe the business's activities?
The business specializes in enhancing vehicles for both off-road adventures and everyday driving.
They offer a comprehensive range of high-quality accessories and professional installation services tailored for SUVs and bakkies.
Key Services and Products:
1) Front Replacement Bumpers: Durable bumpers designed to provide enhanced protection and functionality for off-road conditions.
2) Canopies: Custom-fit canopies that offer additional storage and protection for vehicle cargo areas.
3) Suspensions: Upgraded suspension systems aimed at improving vehicle handling and comfort on various terrains.
4) Stainless Steel Accessories: Premium stainless steel components, including nudge bars and side steps, that enhance both the aesthetic and functional aspects of vehicles.
5) Front Runner Accessories: A selection of accessories from Front Runner, known for their quality and reliability in the off-road market.
6) Rubberising: Protective coatings applied to vehicle surfaces to guard against wear and tear, especially in rugged environments.
7) Window Tinting: Professional tinting services that improve privacy and reduce interior heat.
8) Tow-Bars fitted to customer requirements
9) Auxillary tanks: Eqquiping vehicles with long range fuel/diesel tanks
10) Tyres: Sale and fitment
Other general accesories such as spotlights and snorkles
The company prides itself on its experienced staff, ensuring that customers receive expert advice and quality workmanship.
Their fitment center is equipped to handle installations with precision, ensuring that accessories are properly integrated/installed into each vehicle.
By partnering with reputable brands the company guarantees that clients receive top notch products that meet the highest standards.
Their operating hours are Monday to Friday from 07:30 to 17:00, and Saturday from 09:00 to 13:00
How long has the business been established?
15 Years
How long has the owner had the business?
9 Years
How does the business operate on a daily basis?
The business sources and sells various high-quality vehicle accessories.
Also delivers the service of installing and fitting such accesories to clients reqiurements.
They operate from a physical location with walk-in customers as well as businesses clients.
The management team oversees all the day to day activities of the employees.
A fair amount of walk-in clients are serviced at the front desk.
How are the clients attracted to the business?
The business has a beautiful showroom where it displays all the accesories and product lines.
It is also the sole agency (importer) for some products.
What Advertising/Marketing is carried out?
Marketing is done via:
Facebook and Instagram (Social media) taken care of by inhouse empliyee with such expertise.
Radio advertising,
Exibiting at various expos,
Sinage infront of business facing the road with exceptional exposure (High volume traffic)
Does the business have any contract work?
The business does work for other businesses such as motor dealerships and panel beaters.
This type of work and installation is done on a quote basis.
What competition exists?
There are various competitors in this high demand market
What are the seasonal trends?
The market slows down during the festive season of December to January
Is the business VAT Registered?
Yes, the accountant submits all VAT returns
What Balance Sheet and Income Statements are available?
On file we have August 2023 audited financial statements
Aug 2024 AFS is expected in a few weeks
What percentage of the business is cash/credit?
Nearly 60% of revenue is cash based. Best described as business to client.
About 40% of business consists of business accounts, Business to business.
What is the age analysis of the debtors book?
30-60 days which is made up of car rental companies, motor dealerships and panel beaters
How could the profitability of the business be improved?
Adding car rental services and camping vehicles
Is Seller finance available and for what amount?
The seller prefers not to finance the transaction
The balance sheet of the company does allow for structuring of a deal whereby potential buyer may aquire the shareholding in the company with the seller not settling the outstanding liabilities
Our client is very open for such negotiations and discussions
What is the total staff complement?
Total staff compliment of 21 permanent employees plus the owner
Give a breakdown of staff/ functions/ length of service?
The staff is well trained and commited to the business.
The 4 core staff members have been with the business for more than 7 years and are:
1 General manager
1 Sales manager
1 Workshop manager
1 Finance manager
17 supporting staff members
Are they on contract?
Yes all the staff have contracts in place
The owner opted to appoint/outsource the management of staff contracts and payroll.
This arrangement has served the business well, it cost effective and most professional.
Do any have management potential?
The business is well structure with all key positions filled, the owner is most satisfid with the managers he appointed
How involved is the Owner in running the business?
The owner is not involved in the day to day activities of the business.
He arranges monthly meetings with the staff and whereso required attends to training sessions
His involvement in the businesses can best be described as authorising bank payments and making key appointments of new staff
When does the current lease end?
The owner is in the process of relocating the business and has already concluded such arrrangements with the landlord.
The potential buyer has the option to continue at the current premises or opt for a long term lease agreement at the new premises
Is there an option of renewal & what period?
Yes, this depends on the premises the buyer chooses
What are the trading hours?
Monday to Friday from 07:30 to 17:00 and Saturday from 09:00 to 13:00.
What is the square meters of the business?
Current premises is in total 3500 m2 of which the business occupies 2000 m2
New premises 1800 m2
Is a copy of the lease available?
It can be obtained and made available
What lease deposit and/or other surety is required?
Current monthy rental at N$ 100 000 and the landlord may require such deposit (to be negotiated)
What are the main assets of the business?
Vehicle fitment equipment.
What is their overall condition?
Good and well maintained
Do any require repairing?
No
How have they been valued ?
The owner assisted us with a resonable/fair second hand value.
Which assets are on lease/HP and with whom?
Ruberising machine-this unit was acquired recently on higher purchase.
Will Seller settle or Buyer to take over?
Our client are most comfortable to dicuss and negotiate these options.
Strengths?
Sole agency for many product lines
Management team (Comitted and devoted)
Skilled staff (Well trained)
Top notch products and accesories
Established name in the market
Sizable market being serviced (Market is not price sensitive)
Weaknesses?
Non involvment from current owner
Opportunities?
The current premises is big enough to house an additional/supporting business
Installing and extra vehicle lift that will increase the speed of servcie.
Threats?
Overall namibian economy
What is the reason for the sale?
The owner is involved in too many businesses and wants to scale down
Why is this a good business?
The business presents a neat opportunity and our client is very negotiable
