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Annual turnover

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  • Mandate: 31322
  • Added: 15 Aug 2017
  • 1342

Grill House situated in growth area

KwaZulu-Natal, Durban
1342
Mandate 31322
Added 15 Aug 2017
R 1,150,000* ZAR
Stock: R 50,000
Assets: R 1,000,000
R 34,894 ZAR
Ian Reich
(PRINCIPAL)
Aldes Supreme
KwaZulu-Natal
KwaZulu-Natal
Summary

Established just over 1 year in the Upper Highway where there is massive growth in estates in the suburbs. Very good parking and security. Well priced with new fittings including an outside area, which is popular in the summer months.

Grill House situated in growth area
SELLING PRICE
R 1,150,000* ZAR
Stock: R50,000
Assets: R1,000,000
R 34,894 ZAR
Summary

Established just over 1 year in the Upper Highway where there is massive growth in estates in the suburbs. Very good parking and security. Well priced with new fittings including an outside area, which is popular in the summer months.

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please supply us with your details below

Fully describe the business's activities?
This is a 7 day a week restaurant with an early close on Sundays.

How long has the business been established?
Just over 1 year

How long has the owner had the business?
Since inception

How does the business operate on a daily basis?
Opens at 1130 hrs and closes at 2100 hrs. Food preparation starts a little earlier but the meals are served from miidday onwards.

How are the clients attracted to the business?
Word of mouth and website

What Advertising/Marketing is carried out?
The web site generates some new enquiries, but word of mouth is the most effective advertising method that generates the most growth as regular customers refer new clients to the venue.

Does the business have any contract work?
No

What competition exists?
There are numerous food outlets within the market place, but this "Grill House" is known for quality grills and great service.

What are the seasonal trends?
The summer months are the most productive with the Christmas season a highlight.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
The owner has all Vat documentation

Are there up-to-date Management Accounts available?
Yes

What Balance Sheet and Income Statements are available?
The owner has all management accounts and the 2017 AFS's

What percentage of the business is cash/credit?
75% credit card and 25% cash

How could the profitability of the business be improved?
Marketing strategies should be implemented via social media such as Face book.

Is Seller finance available and for what amount?
No

What is the total staff complement?
10 plus 2 managers

Give a breakdown of staff/ functions/ length of service?
Managers have been with the business since inception and the kitchen/cleaning staff for most of the past 12 months

Do any receive special perks or incentives?
No

Are they on contract?
Yes

Do any have management potential?
There is a management structure in place already

How involved is the Owner in running the business?
The owner visits the outlet every two weeks to discuss performance and marketing plans

When does the current lease end?
There is a 2 year lease in place with a 2 year option to renew.

Is there an option of renewal & what period?
Yes 2 years.

What is the annual escalation %?
8%

What are the trading hours?
1200-2100 hrs, daily with an early close on Sundays.

What is the square meters of the business?
250 square meters

Is a copy of the lease available?
Yes

Do you require a licence?
Yes A liquor licence is required.

What lease deposit and/or other surety is required?
R30000

Are any items not included in the sale?
No

What is their overall condition?
All are new and in good condition.

Do any require repairing?
No

How have they been valued ?
At replacement value

Which assets are on lease/HP and with whom?
See above

Will Seller settle or Buyer to take over?
The buyer will take over the lease on the coffee machine, the ice machine and the POS system as they are necessary in the operations of the business.

Are copies of agreements available?
Yes

Are they presently insured?
Yes

Strengths?
Well priced and situated in a popular market area. Good visiblity and well run by the management structure.

Weaknesses?
There are no real weaknesses, other than there are other food outlets within the market complex.

Opportunities?
There is an opportunity to diversify the "grill house" concept and to develop delivery base for pizzas etc.

Threats?
None perceived.

What is the reason for the sale?
The owner has three other seafood outlets which he is wanting to franchise. His focus is on developing these outlets as there is a large demand for high quality seafood restaurants.

Why is this a good business?
Well priced and in a visible and popular area. High service levels make this a preferred choice for family dinners

What is the price plus stock and the net profit?
Priced at R1,1 million with a growing net profit of R35000 p.m.

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FRANCHISE DETAILS

Aldes Supreme

2 members
17 active mandates
KwaZulu-Natal
19 Village Brittany, Le Domaine Estate
3626

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