Fully describe the business's activities?
Two franchises in one store, one from Famous Brands that complement each other extremely well and have been showing year on year growth of 25% to 35% last year. The businesses are being sold together as they cannot be separated and sold separately. Please note that the franchisor rights for the second store which is held by the seller is included in the price, these cannot be split and must be sold all together.
How long has the business been established?
For over 20 years
How long has the owner had the business?
The seller has had the business for around 15 years
How does the business operate on a daily basis?
The business is manager and owner run. Currently there are three managers employed, however it must be noted that Famous Brands wants hands on owners as franchisees
How are the clients attracted to the business?
Foot traffic as the stores have a prime position in the mall.
What Advertising/Marketing is carried out?
Outside advertising such as the booms in the car parks, emailing of clients, etc.
Does the business have any contract work?
What competition exists?
No direct competiton in the mall itself
What are the seasonal trends?
Business peaks in December and summer, the busiets months are October thorugh February and school holidays
Is the business VAT Registered?
What VAT documentation is on file?
All returns are and tax clearance is in place
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
2016, 2015 and prior years
What percentage of the business is cash/credit?
Cash 60% Credit Card 40%
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Additional external advertising and the current owners have started with ice cream cakes as well.
Is Seller finance available and for what amount?
What is the total staff complement?
27 Staff members
Give a breakdown of staff/ functions/ length of service?
3 x Managers (1 x Senior, 1 x Assistant, 1 x Casual) 6 x Waiters 18 x Various, Kitchen, etc. (Only 10 are permanent)
Do any receive special perks or incentives?
Senior manager gets performance bonus
Are they on contract?
Do any have management potential?
Management is in place
How involved is the Owner in running the business?
Daily involvement from the owner
When does the current lease end?
Is there an option of renewal & what period?
Yes 5 years
What is the annual escalation %?
What are the trading hours?
09:00 - 21:00 Sunday - Thursday 09:00 - 22:00 Friday - Saturday
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
Trading license Health Certificate, etc.
What are the main assets of the business?
Stores fittings, fixtures and equipment
Are any items not included in the sale?
Al included, seller compiling an Asset register
What is their overall condition?
Very good, current look and feel for franchise
Do any require repairing?
Ongoing repairs and maintenance is performed
Which assets are on lease/HP and with whom?
Are they presently insured?
Excellent and well known and established Famous Brands Franchises Unique in the mall and in Pretoria East and North Well trained staff and great customer service
Have been approached by other Centres to open the same concept in them as well
What is the reason for the sale?
After 15 years the seller is ready for a change and they are moving to the Cape
Why is this a good business?
Great Famous Brands franchise and other, well established, popular and profitable, basically walk in and take over after the appropriate training of course.
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Annual Turnover Amount between R 500 thousand and R 6 million