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Established Student House/Laundry Business In Bloemfontein For Sale

Bloemfontein, Free State, South Africa
Asking Price:
R3,050,000 Furniture / Fixtures included
Sales Revenue:
R580,000
Cash Flow:
R2,662,000

This is a great opportunity for a young entrepreneur to get an excellent start. This house currently hosts 11 students and is fully booked until December 2024, providing a healthy income to an investor. All the students are NSFAS bursary holders, and their rent is collected and paid via an estate agent, making it hassle-free for the new prospective investor. There is plenty of space to expand and host more students. But wait, there is more.

The current owner runs a separate laundry business on the same premises. He has fixed contracts with various institutions, which he has been running successfully for the past four years, that will be transferred to the new owner. What makes this opportunity even more attractive is the fact that the property has an equipped borehole that provides water to the laundry. This is an excellent business for a vibrant, young entrepreneur. The assets of this business alone are worth R400,000.

The owner wants to sell the student house and the laundry as a unit.

Financial Snapshot:
Student House
1. Annual Income: R412 000
2. Expenses: R 168 000
3. Net Profit: R 244 000
4. Selling Price: Rs. 2.2 million
5. ROI: 11%

* Note that the ROI will increase each year as the NSFAS fees increase by 6% per annum.

Laundry
1. Annual Income: R 2 250 000
2. Cost of Sales: R 155 000
3. Gross Profit: R 2095 000
4. Expenses: R 1 760 000
5. Net Profit: R 335 000
6. Selling Price: R 850 000
7. ROI: 40%
8. Value of Assets: R 400 000

* Note that all photos are generic to protect the identity of the seller

Property Information

Real Estate:

Real Property Included

Location:

Close to the University of the Free State

Business Operation

Expansion Potential:

Plenty of space available to expand the student house

Reasons for selling:

The owner is going into another business venture

Employees:
13
Years established:
6

Other Information

Support & training:

All support and training will be provided

Furniture / Fixtures value:
R400,000 - included in the asking price