Fully describe the business's activities?
The business is a extremely popular , uniquely defined authentic Greek restaurant, boasting the surrounds of a rustic mediterranea ambiance , offering fine Greek cuisine and able to seat 120 partons at any given time
How long has the business been established?
The business has been established for 6 years.
How long has the owner had the business?
The current owner was the establisher of the business.
Short overview of the business.
The business has an abundance of positive foundations to offer the next owner in terms of capitalizing on its existing established infrastructure with its ambience and Mediterranean unique cuisine, coupled with its centralized location, long establishment and skilled well trained staff. The restaurant is popular and well supported. The opportunity to grow the business further by advertising and marketing is available. The availability parking in the food court can from time to time can be challenging.The restaurant os one of the most popular and recognized in the area.
How does the business operate on a daily basis?
The business operates on a daily basis by attracting patrons to the establishment with their authentically, freshly prepared Greek cuisine. The business offers its clients a unique Mediterranean experience with typically prepared Greek food and ambiance to compliment it. The restaurant has well established itself over the years as one of the top restaurants in the area of its location. The decor accompanied by the food entices and inspires an emotional Mediterranean coastal experience to its patrons. The business flaunts top notch culinary staff, all skilled and trained in typical Greek cuisine. The waitresses are friendly, eager to please the patrons and well informed on the wines and foods offered on the menu. The business is licensed and offers a wide selection of wines and beverages. Booking is essential due to its popularity. The owner, being Greek has tailored the menu with introductory enticements of the most popular Greek dishes.
How are the clients attracted to the business?
The clients are attracted to the business by its location which is in a popular food court amongst several other restaurants which all encourage local diners to the location . The decor and coloring is warm and welcoming to patrons. The signage, bold and is explicit of the business offerings. This typically Greek specialized cuisine is unique in the area where the business operates from and the reception to it is widely supported and recommended by the locals.
What Advertising/Marketing is carried out?
The complex wherein the business is situated advertises the business name at the entrance of the complex. The business enjoys strong word of mouth referrals . The owner from time to time advertises in the local media.
What competition exists?
The business is located is within the surrounds of a popular food court which is balanced by a selection of several competitor within the immediate proximity of the business . This selection of choices in turn has an extremely positive effect on encouraging prospective diners to this destination .The business owner has for this reason specifically established the business here .
What are the seasonal trends?
The businesses trading is comfortable with a steady continuous flow of patrons. The months of January, June and July are somewhat quieter.
Is the business VAT Registered?
No, the business is not VAT registered.There is readily on file available income statement and balance sheets for period ending February 2017 .
Are there up-to-date Management Accounts available?
Yes there are up to date management accounts available for perusal to a qualified serious buyer
What percentage of the business is cash/credit?
The business operates on 100% cash basis.
What is the total staff complement?
The staff compliment is 15 including the manager.
Give a breakdown of staff/ functions/ length of service?
The staff comprises chefs, cooks, waiters, bartender and the manager. A full staff list is on file and available for perusal.
How involved is the Owner in running the business?
The owner is hands on in terms of deciding the menu and purchasing the correct quality products , with overall management of the staff and the business .
When does the current lease end?
The lease ends in April 2019. There is an options offered by the landlord for renewal of the lease for an additional 3 to 5 yearsâ with a 10% annual escalation. There is a copy of the lease available for perusal by an interested serious buyer. The businesses premise is 250 square meters with an interior seating area and an outside veranda seating area which during the winter months or rainy days can be enclosed . The landlord will require 2 monthsâ rent as a deposit and the first months rental is payable up front, thereafter on or before the 1st day of each new month the rent is payable. The electricity usage is also coupled on the same monthly rental billing.The agreement with the landlords is that the business may only sell Greek and Greek related foods and confectionery and the business will have exclusivity of such cuisine in the complex
What are the trading hours?
The trading hours are Monday to Saturday 12:00 to 21:00 and Sundays 12:00 to 15:00i, and is open on public holidays .
Is a copy of the lease available?
Yes there is a copy of the lease available
Do you require a licence?
Yes, a business operational and health and safety license is required. There is also an existing a liquor license which is annually renewable. The registered CC and the trading name of the restaurant are one and the same. The prospective new owner will have to pay to have the liquor license transferred onto his name.
What are the main assets of the business?
The main assets the business are is the kitchen equipment, the front of house equipment and the tables and chairs
What is their overall condition?
The overall condition of the assets is good and none currently require repairing
How have they been valued ?
The assets have been valued at a seciond hand replacement value
Are they presently insured?
Yes the assets are currently insured
Is a full asset list on file?
Yes, there is a full asset inventory list on file. The assets as listed on the asset inventory are all included in the purchase / selling price of the business, they are fully paid for and are the absolute property of the seller and the business and they are not encumbered in any way. The assets are all in a good working condition and are insured. On the date of hand over the asset as indicated on the asset inventory will be checked and verified. The purchase will from the date of takeover be responsible at his own costs to take out his own insurance for the business.
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