Sectors / Category

Annual turnover

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  • Mandate: 31501
  • Added: 18 Jan 2019
  • AFS
  • 693

Bar, Casino & Pool Tables

KwaZulu-Natal, Zululand
693
Mandate 31501
Added 18 Jan 2019
R 2,990,000* ZAR
Stock: R 40,000
Assets: R 325,000
R 140,599 ZAR
Werner Angell-Schau
(PRINCIPAL)
Aldes Zululand
KwaZulu-Natal
KwaZulu-Natal
Summary

Situated in a prime busy area and established for 35 years, this business is set for anyone to take over and run with the profits. Well trained staff, management in place for the everyday running of this business. 3 Profitable streams of income shows a healthy Nett Profit, very well supported by the locals. Easily accessible, lots of parking and spacious attracts customers for good solid entertainment.

Bar, Casino & Pool Tables
SELLING PRICE AFS
R 2,990,000* ZAR
Stock: R40,000
Assets: R325,000
R 140,599 ZAR
Summary

Situated in a prime busy area and established for 35 years, this business is set for anyone to take over and run with the profits. Well trained staff, management in place for the everyday running of this business. 3 Profitable streams of income shows a healthy Nett Profit, very well supported by the locals. Easily accessible, lots of parking and spacious attracts customers for good solid entertainment.

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Fully describe the business's activities?
Entertainment bar, 5 casino slot machines and pool tables.

How long has the business been established?
35 Years

How long has the owner had the business?
15 Years, Since November 2003

How does the business operate on a daily basis?
Clients visit the bar/casino daily 7 days a week, all staff in place managers opens and closes the business. Owner controls the finances and approves the weekly orders for the bar stock.

How are the clients attracted to the business?
Established 35 years, prime locations lots of parking space. Offers night entertainment with Casino in place.

What competition exists?
There are other bars in the area however offers no direct competition.

What are the seasonal trends?
December and school holiday are the busier time of the year, however business is constant throughout the year showing healthy solid Nett Profits.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
All up to date, available to any serious enquiries during due diligence stages.

Are there up-to-date Management Accounts available?
All up to date, available to any serious enquiries during due diligence stages.

What Balance Sheet and Income Statements are available?
All up to date, available to any serious enquiries during due diligence stages.

What percentage of the business is cash/credit?
30% Credit Card & 70% Cash

What is the age analysis of the debtors book?
None

How could the profitability of the business be improved?
Promotional events

What is the total staff complement?
14 Staff

Give a breakdown of staff/ functions/ length of service?
4 Managers, 1 Assistant, 5 Bar staff & 4 Security

Are they on contract?
Yes

Do any have management potential?
In place

How involved is the Owner in running the business?
10 % of the time.

When does the current lease end?
Premises are owned by the seller, will enter into a new long term lease with buyer.

Is there an option of renewal & what period?
Yes will be negotiated, either 3 or 5 year

What is the annual escalation %?
8%

What are the trading hours?
7 Days a week, 8am -5am

What is the square meters of the business?
335 sqm

Who is the Owner/Landlord?
The seller

Do you require a licence?
Liquor and Casino licenses required

What lease deposit and/or other surety is required?
One months rental R 35 000.00

What are the main assets of the business?
Bar, tables & chairs, pool tables, stock & equipment. Staff in place

Are any items not included in the sale?
All included as per assets register.

What is their overall condition?
All good working condition.

Do any require repairing?
All been maintained and well kept

How have they been valued ?
Current market related values

Which assets are on lease/HP and with whom?
Fridges and casino machines on consignment

Are they presently insured?
Yes full comprehensive insurance in place.

Strengths?
Very well supported by the locals, business offers good entertainment, well trained staff and management in place. Casino in place, well located with lots of parking.

Weaknesses?
Long trading hours.

Opportunities?
Promotional events to be implemented to increase Nett Profits

Threats?
No Direct Threats

What is the reason for the sale?
Owners are at retirement age.

Why is this a good business?
Service and entertainment offerings in demand, very well located, casino in place, manager run business, and business is easy to manage.

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FRANCHISE DETAILS

Aldes Zululand

2 members
28 active mandates
KwaZulu-Natal
28 Bronze Street
3880

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