Fully describe the business's activities?
A well known franchised brand in the restaurant industry catering for the whole family. Situated in the East of Pretoria in a high traffic convenience centre with solid anchor tenants.
How long has the business been established?
The business has been established for 15 years.
How does the business operate on a daily basis?
There are six managers that take care of opening and closing the business.
What Advertising/Marketing is carried out?
Flyers are handed out on which specials are advertised. Franchisor advertises on national level. Marketing fee is paid
What are the seasonal trends?
December tends to be quieter.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Up to date accounts are available. Stock take done on a weekly basis.
What Balance Sheet and Income Statements are available?
Income and Expense statement for the period March - October 2016 is available.
What percentage of the business is cash/credit?
15% Cash the remainder paid with Credit Cards.
How could the profitability of the business be improved?
The owner has already renegotiated new terms for the lease agreement. The savings on the monthly rental is not reflected in the Income Statement provided. Better control over food cost.
Is Seller finance available and for what amount?
Owner is looking at a quick sale and will consider.
How can turnovers be proved?
This is a franchise restaurant with a comprehensive Point Of Sale system. Numbers can be verified by the franchisor.
What is the total staff complement?
Total staff of 25
Give a breakdown of staff/ functions/ length of service?
6 x Managers 19 x Kitchen Staff Staff work in 6 shifts The waiters are not permanent employees.
Do any receive special perks or incentives?
Staff meals are provided. Transport via taxi
Are they on contract?
All staff on contract except for two staff members who are paid cash.
Do any have management potential?
6 Managers in place taking care of the daily operations.
How involved is the Owner in running the business?
Owner is involved daily.
When does the current lease end?
Current lease ends 2019.
What is the annual escalation %?
10% The Landlord has agreed to a reduced monthly rental amount, which is not currently reflected in this Financial Report.
What are the trading hours?
Monday to Sunday from 07:00 - 02:00
What is the square meters of the business?
Is a copy of the lease available?
Yes, a copy is available from the owner.
Do you require a licence?
What lease deposit and/or other surety is required?
Landlord will require a deposit equal to two months rental. The landlord will also accept bank guarantee
What are the main assets of the business?
Kitchen equipment, restaurant furniture, kids play area.
Are any items not included in the sale?
All items as specified on the asset list will be included.
What is their overall condition?
Fair and working condition. Assets have been properly maintained and looked after. Assets are not new.
Do any require repairing?
Weekly repairs are done.
How have they been valued ?
Owner assisted us with the valuation.
Which assets are on lease/HP and with whom?
None. All assets are paid for.
Are they presently insured?
Comprehensive insurance is in place.
Well known and supported franchise brand. Restaurant is used as a training shop by franchisor. Exceptional location. Established 15 years in the same premises.
Owner has no restaurant background.
Marketing. Take away's and deliveries in and around the area The owner have renegotiated the lease agreement and there will be a huge saving on the monthly rental going forward.
None were identified.
What is the reason for the sale?
Owner wishes to focus on his other businesses.
Why is this a good business?
Good systems in place with well trained managers to execute. One of the top brands in the restaurant industry.
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Annual Turnover Amount between R 500 thousand and R 6 million