This business was started by the owners in 1972 and they have continued to successfully run it for the last 54 years simply because they loved the work they were doing. However, as they are now both in their eighties and it is time for them to sell and have a change of lifestyle. It operates in what they call the mid-market segment, not luxury and neither low cost.
The business supplied event equipment hiring all over South Africa and worked 24/7 to supply these services. However, since COVID they decided to scale down the business, reduce their trucks from 25 to the current 5, and only provide services in Johannesburg and surrounding areas. The business now operates on a 5-day week from 08h00 to 17h00.
They supply various marquees, from peg and pole, aluminium frame and transparent ones to antechambers and entrance halls. All in all, they provide the most comprehensive event marquee hire service in Africa, including marquee tents, seating, and catering equipment for any occasion. They have everything from Barrel Braais to Carvery Units, Electric Urns, Ovens, Potjie pots to Gas and Convection Ovens. They offer a beautiful range of Event Glassware Hire, with a wide variety of shapes and sizes to suit any occasion, from classic plain glasses to elegant banquet styles. They cover the full range of hire from bar, crockery, table, glassware, catering equipment, seating and accessories like flooring, outdoor needs, table linen and wear.
They operate from the wholly owned warehouse in Johannesburg and the property is for sale in a separate transaction. The business has extensive operating assets, like trucks, specialised forklifts, tent washing machine, laundry and dish washing equipment. Their operating system is SAP Business One, which they acquired at great cost as it is the only operating and financial system specifically for the hiring industry.
The business is now for sale as a going concern but priced at asset value, accumulated loss and a small amount of goodwill. The owners are willing to stay on for a negotiated handover period, but they do have an experienced General Manager, administrative person, sales resource and staff, some of whom has been with the company for over 40 years. The business would be ideally suited to an existing player in the industry that wishes to gain access to the assets and the 54 year old customer database.
Business Asking Price R14m negotiable. Property asking price R16m.
