| History Background |
| Fully describe the business's activities? | This is a 2.2 hectare property on which the owner manages a B & B which caters for the personal and corporate market. The B & B consists of 8 en suite rooms in country surroundings. 16 people can be accommodated with ease. Breakfast is buffet style and lunch and dinner are optional. There is also a 2 bed garden cottage with lounge, family room, servants quarters and lock up garage and workshop.Main Building and cottages are 1,081m², Outbuildings including garages and staff rooms, stables and gazebos 431m² | |
| How long has the business been established? | The business was established by the owner in 2002 | |
| Present Market |
| How does the business operate on a daily basis? | The B & B caters for business and students studying and writing exams in Gauteng. They travel up and stay at the B & B. The same is done for pilots, CAA personnel and computer programmers. Guests are local and international including equestrian guests, | |
| How are the clients attracted to the business? | Essentially by word of mouth, Gauteng Travel Magazine and travel agents. In existence for 6 years, the B & B does a lot of repeat business with clients. There is a web site plus advertising from the GSA & Kyalami Business Park and the Midrand B & B association of which it is a member. | |
| What competition exists? | Normal competitors in the market place | |
| What are the seasonal trends? | Business all year round. | |
| Financial |
| Is the business VAT Registered? | The business is Vat registered and all Vat documentation is available for prospective clients to view | |
| Are there up-to-date Management Accounts available? | Available for prospective clients to view | |
| What Balance Sheet and Income Statements are available? | February 2008 | |
| What percentage of of the business is cash/credit? | 100% cash | |
| How could the profitability of the business be improved? | Currently runs at 50% occupancy. With dedication, networking and more advertising the turnover can easily be increased | |
| Staffing |
| What is the total staff complement? | 3 domestics who also cook, and 1 gardener | |
| Give a breakdown of staff/functions/length of service? | Between 1 - 3 years | |
| Are they on contract? | Employee contracts for all | |
| How involved is the Owner in running the business? | Daily. This business is ideal for a husband and wife team | |
| Premises |
| When does the current lease end? | No Lease. The property consisting of a country style home with 3 bedrooms situated on 2.204 hectares comprising the main house and occupancy for 8 B & B rooms for at least 16 people. Accommodation is also available for the staff. There is also 5 stables, 2 paddocks and a large pool for guests with gazebo and trampoline. Also 3 separate 2 bed flats, conference room with separate guest toilets, breakfast room. & garages under roof with 2 carports. There is also a 2 bed garden cottage, large family room, 2 servants quarters, lock up garage and workshop. | |
| Is there an option of renewal & what period? | The property is for sale with the B & B | |
| What is the square meterage of the business? | approximately 1000m² under roof | |
| Do you require a licence? | Yes. The application by the owner is almost complete | |
| Assets |
| Is a full asset list on file? | Yes. Comprise all the fittings for the B & B and conferencing. | |
| Are any items not included in the sale? | Only the personal effects of the owner. Their are some items of furniture which are negotiable. | |
| What is their overall condition? | Assets are in good condition | |
| How have they been valued. ? | Owners valuation | |
| Which assets are on lease/HP and with whom? | Vito 115 | |
| What are their settlement amounts? | R156,000. | |
| Will Seller settle or Buyer to take over? | Owner to settle | |
| Are copies of agreements available? | The agreements are available | |
| Are they presently insured? | The assets are insured | |
| S.W.O.T. Analysis |
| Strengths? | Out in the country but only 8 mins from fourways, 20 mins from Sandton. 2010 soccer games. Close to Kyalami, Montecasino, Gallagher Estate,Kyalami Golf Course and Sandton & Midrand | |
| Weaknesses? | None perceived | |
| Opportunities? | To grow an existing, consistent business | |
| Threats? | Normal competitors in the market place and area | |
| Reason For Sale |
| What is the reason for the sale? | Owner emigrating to the US to live with their daughter | |
| Conclusion |
| Why is this a good business? | Cash, tourism and hospitality industry | |