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Retail Shop Exclusive Gifts Outerwest Durban For Sale

Durban, KwaZulu - Natal, South Africa
Asking Price:
R990,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
R1,717,000
Cash Flow:
R569,000

The Sale Price is R990 000 , including the present owners stock of some R300 000. The Net Profits including the owners benefits was R569 000 on a turnover of R1.7m for the financial year ending Feb 2022 (MA's, with the previous year being R1.65m). An excellent return for minimal risk from this long established, well positioned & easily operated retail shop, with owner only working weekdays & staff on weekends.
Exclusive gifts, jewelry, glassware etc - Top OuterWest Mall. Two glass-sided corner store, in the same position for 5 years, next to a major upmarket retailer. Owner works Mon to Fri only. Steady turnovers & profits.
The owner will open/close/operate the shop weekdays, while one of the two assistants will open/close/operate the shop on Sat or Sun. The owner sources stock (new & 2nd-hand), that have been proven to be attractive to the Mall's clientele & provide the required mark-up. Each stock item is recorded (description, code, price) & then crossed off when sold also indicating it's sale price & date. These records match the cash receipts & card machine (approx 90%). They match the excel spreadsheet MA's & external Accountants AFS.
Top quality display cabinets/furniture, office furniture, printer, alarm/camera's, reference books which would cost with shop fittings some R340 000 and at a forced sale price may be some R100 000.

Property Information

Real Estate:

Lease

Premises Details:

Strategically positioned in an Upper Highway Durban Mall, next to an upmarket Retailer.
There is a new 3 year lease on the 70 m2 premises, which may be extended. The rental is R 38 795 pm (fully inclusive of charges but excl VAT), with an escalation clause of 6% pa.

Business Operation

Reasons for selling:

The owner is going to home school her children

Employees:
The owner will open/close/operate the shop weekdays, while one of the two assistants (elderly ladies working as casuals) will open/close/operate the shop on Sat or Sun.
Years established:
26 yrs

Other Information

Support & training:

Seller will assist in all regards

Furniture / Fixtures value:
R100,000 - included in the asking price
Inventory / Stock value:
R300,000 - included in the asking price

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