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Gifts And Jewellery Antiques Shop In Durban For Sale

Durban, KwaZulu - Natal
Asking Price:
R1,398,000
Sales Revenue:
R2,400,000
Cash Flow:
R875,410

Price drop of R450 000 to SELL as seller relocating !! R875 410 Net Profit pa from this long established well positioned shop in major Upper Highway Mall that focuses on Gifts, Jewellery, Collectables, Antiques.

The Sale Price is R1.398m, excluding the present owners stock of some R520 000. The Net Profits including the owners benefits was R875 410 on a turnover of R2.4m for the 2018/19 financial year. An excellent return for minimal involvement & risk.

It has been operational with the present owner in Durban for 26 yrs, of which the last 10 have been in the present major Upper Highway Mall, with the last 2 years being in the same well positioned internal corner spot.

Each year AFS are produced, which include the owners benefits, which once added-back produced an annual Net Profit of R875 410 on a turnover of R2.4m for 2018/19 (turnover for the two previous years was R2.45m approx, each).

Property information

Real Estate:

Lease

Leasehold Rent:

R360,000 per annum

Location:

Outer West Suburb of Durban

Premises Details:

The present lease will end in July 2019, but will be renewable at the normal 8% annual escalation (2-4 yr leases available). The 70 m2 shop has a present rental charge, inclusive of all fees except VAT, of R30 000 pm (with a provision within this Reports accounts to cover the increase for the new owner)

Business Operation

Reasons for selling:

Retiring

Trading hours:

9-19h00 daily (longest)
9-16h00 (shortest)

Employees:
2 temporary shop assistants that run the shop 2 days of the week, when the owner doesnt come in
Years established:
26, but 10 in the same Upper Highway Mall

Other Information

Support & training:

The seller will assist in all regards

Contact Information

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