Busy Spar In Randburg West For Sale

Business description

This Spar has been owned by the present owners for the past 15 months. This is their 2nd store, and they are currently busy with, and about to open, their 3rd store. This store is very well run with good management in place, plus the owner spends a fair amount of time in the store as well. This is one of the first Spars to have a Pharmacy, which has been open for 7 months now. The turnovers of the Pharmacy are not included in the above figures, nor in the selling price. The seller has a 34% share in the Pharmacy, which is being paid for monthly, which payments the purchaser must take over. The Pharmacy is growing month on month, and is already achieving monthly turnovers excl.Vat of R460k. They have now acquired there own delivery vehicle as well. The seller has concluded a deal with the landlord to open a Tops Bottle Store, in fact there is already a Heads of Agreement for the lease signed by all parties concerned.
Their passing trade is increasing day to day, and customers come from the huge amount of surrounding town house complexes in the area and surrounding suburbs. The Pharmacy has proved a huge crowd pleaser, and with the comimg of the Tops Bottle Store, coupled with the store's convenient location right in the middle of this very densely populated area, plus loads of easy parking in the centre, there is no stopping the growth and expansion of this excellent business!!

Property information

Location:

Randburg West

Premises details:

Anchor Store for this Local Suburban Centre, including a Spar Pharmacy, with a Tops store to be opened in the very near future
The lease has 3 years and 9 months left, with a 5 year option.

Business Operation

Expansion potential:

The whole area is growing all the time, and already densly populated.

Reasons for selling:

The owner is unable to concentrate on 3 stores at once.

Trading hours:

7 Days a week, open 7am - 7pm.

Franchise terms

Perspective buyers must have a minimum of 60% of the purchase price in unencumbered cash, or they will not qualify for bank finance or be approved by Spar Head Office.

Other information

Support & training:

Spar will provide all the necessary training, and new franchisees must be approved by head office before a sale can take place.

Furniture / Fixtures value:

R3,500,000 (included in the asking price)

Inventory / Stock value:

R2,000,000