A very lucrative Franchised Pawn Shop business that was established more than 12 years ago is on an urgent sale. The franchise/brand has international franchise operations in many areas such as the US and Canada, the Middle East, Western Europe, Southeast Asia, and New Zealand, Africa etc. The current owner acquired this business 3 years ago and assembled a team that turned around the business from loss making to profitability in less than 3 months from takeover.
Turnover has increased 218% over the 3 year period. The business is a reputable second hand goods dealer with 3 revenue streams i.e. Buying and selling of pre-loved goods; Secured money-lending; and Buying and selling of brand new goods supplied by partnered wholesalers who also supply leading retailers in SA. The business is highly profitable and “recession proof “. The business model is built to thrive under all economic cycles i.e. during a slow economy, the cash loans business realises its peak while during an economic boom, the retail/trading section triumphs.
The business is located in a great business centre. It is situated in a well-known shopping centre with great foot traffic boasting 2 major retailers as anchor tenants. More than 60% of the stores in the centre are well known brands in the country. The centre has ample parking space and top security. The business itself commands a significant market share in the surrounding area and reaches beyond the immediate market through aggressive online platforms. This business has 8 well trained and reliable staff complement and the owner has also installed one of the top security systems which guarantees the safety of stock.
This business asking price is R 2,500,000.00 excluding stock of R1,000,000.00 on average. This business generates an average monthly turnover of R 559,000.00 and an average monthly net profit of R 110,275.00
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Other Business Details
This business situated in West Rand
The business is located in a great business centre. It is situated in a well-known shopping centre with great foot traffic boasting 2 major retailers as anchor tenants. More than 60% of the stores in the centre are well known brands in the country. The centre has ample parking space and top security.
Very minimal competition in the area
Business Operation Details
Reason For Selling:
The seller wants to focus on his other ventures