Event hiring business for sale at asset value.

Event hiring business for sale at asset value.

Introduction

• This business was started by the current owners, decades ago and they have continued to successfully run it simply because of their passion for it. However, as they are now both in their eighties it is time for them to sell and have a change of lifestyle.
• The business operates in the mid-market segment, not luxury and neither low cost.
• The business supplied event equipment hiring all over South Africa, however, since Covid, they decided to scale down the business, reduced their trucks from 25 to the current 5, and only provide services in Johannesburg and surrounding areas.
• The business now operates on a 5-day week from 08h00 to 17h00.
• They supply various marquees, from peg and pole, aluminium frame and transparent ones to antechambers and entrance halls. All in all, they provide the most comprehensive event marquee hire service in Africa, including marquee tents, seating, and catering equipment for any occasion. They have everything from Barrel Braais to Carvery Units, Electric Urns, Ovens, Potjie pots to Gas and Convection Ovens. They offer a beautiful range of Event Glassware Hire, with a wide variety of shapes and sizes to suit any occasion, from classic plain glasses to elegant banquet styles. They cover the full range from bar, crockery, table, glassware, catering equipment, seating and accessories like flooring, outdoor needs, table linen and wear.
• They operate from the wholly owned warehouse in Johannesburg and the property is for sale in a separate transaction. The business has extensive operating assets, like trucks, specialized forklifts, tent washing machine, laundry and dish washing equipment. Their operating system supports the event hiring business.
• The business is now for sale as a going concern but priced at asset value, accumulated loss and a small amount of goodwill. The owners are willing to stay on for a negotiated handover period. They also have an experienced General Manager, administrative person, sales resource and staff, some of whom has been with the company for over 40 years.

Financials:

• All financials/assets and relevant information will be supplied to an interested buyer upon completion of a NDA and proof of funds submitted

Selling price:

• Business selling price R14 million.
• Property selling price R16 million.