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The first Midas franchise opened in SA in 1983 and this profitable and well-established franchise on offer open its doors in 2009 and it has been operational under the present Owner since. There is currently a total of 298 Midas outlets nationally and the brand has proved popular with a wide range of spares accessories, tools & hardware, fishing and camping equipment, etc. A business of similar size of ± 300m2 will cost approximately R3m to set up.
This fully equipped and spacious business is very popular with the local farming community as well as surrounding towns and visitors to the town. The reason for the present owner to sell is that he already turned 65 years old and want to retire.
The outlet is situated in a busy town in the Northern Cape and opportunities for a new Owner to increase turnover further lies amongst others in the aggressive marketing of a wide range of products and “specials” on offer to the local community and visitors which will also ensure a substantial further growth in the current solid customer base.
There is good support from the franchise head office to ensure required levels of excellence and consistency is maintained throughout the group.
The business has performed consistently well with strong annual sales turnover growth as well as a consistent cash flow which will ensure a sustainable income to a new hands-on owner. Full financials are available, and all information can be verified.
The Midas outlet is situated on a 980sqm land with a neatly constructed business building of 300sqm. An additional advantage is that the business building is already fitted with “Photovoltaic Solar Energy Panels” and therefore no need to use Eskom power at all.
Regarding the Property, it is a specific condition of the Seller wanting to sell the Midas business as a total package. So, consequently, then the sale of the Property and the Business is to be sold simultaneously to a willing Purchaser.
The total selling price for the Property and Midas business is R5,090,000 made up as follows:
*The land area of 980sqm with the constructed business building (300sqm) for R1,910,000; and
*The Midas franchise business as a going concern at R3,180,000 and includes assets of R187,000 and the current trading stock at cost of about R2,300,000. The selling price of the business excludes VAT (Where applicable).
This Midas outlet has shown a consistent growth in annual sales over the years with good Gross Profit percentages notwithstanding the economic downturn in SA since the last three years or so
The average calculated NPBITD for the last three financial years (2018 to 2020) years was a healthy R879,819. This represents a ROI of 27.7% based on the average calculated NPBITD and the offered selling price for the Midas Franchised business at R3,180,000.
The Seller is also prepared to stay on for a couple of months to assist a new Owner to ensure a smooth take-over of this established and profitable Midas outlet he built up over the last twelve years.
Further proof/testimonial of this well-managed profitable Midas Franchise outlet by the present Owner/Franchisee, can be found that it received and been awarded various annual rewards/recognitions by the national Franchisor.
If you want to belong to a dynamic franchise group, then this Business on offer is certainly worth to investigate and taking advantage of living in an urban town in the Northern Cape in a crime free area with no hazels about sticking in daily traffic jams in big cities.
For further information about this excellent Franchise opportunity, kindly contact the listed Broker.
Real Property Included
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