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This is an opportunity to acquire a newly establihed franchised hardware store based in central Gauteng.
The business opened doors beginning January 2021 and been trading sucessully as a fully equipped and well stocked entity.
It is the second similar franchise store that the owner opened after having sucessfully and still operating the other franchise hardware in the East Rand for many years. The reason for the owner now wanting to sell the second hardware shop is lack of sufficient working capital to carry the business during the initial loss making months to the stage of break-even before starting to make profits. Typical with a new business, especially starting in January normally a very quit month, together with the Covid-19 impact the sales remain below target. Nevertheless actual sales still doubled month on month.
The hardware business is located in a very neat and somewhat unigue location which is fairly densely populated. The business is surrounded with a bank an a number of ATM’s, PostNet and two major retailers, all within very close proximity to the lifts leading to the parking areas, etc. The business sells products to a variety of clients, DIY enthusiasts, etc.The franchise brand has built up a name for good service, competitive pricing and a range of products like electrical, plumbing, small tools, paints, locks, etc.
The hardware business has a small complement of knowledgeable, hardworking and loyal staff and the owner is also involved in the day to day management of the store.
The business is VAT registered and trading as a Pty which the buyer may want to take over if interested.
The price of R1,340m excludes VAT(if applicable) but includes committed stock to the value of R700k and Movable Assets and Improvements in a good new condition of around R240k as a going concern.
The business has definite potential to grow and reach profitability.
The business will suit someone who will work in the business with the help of very experienced and loyal staff.
The owner is a keen Seller and price is negotiable.
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