Fully describe the business's activities?
The Restaurant is situated in a busy mall (strip mall/ not a shopping centre). It is surrounded by several other big brands in the centre such as Woolworths, PnP etc. The mall therefore attracks a lot of passing trade. The Restaurant has an inside and outside seating area, It has a wide menu offering Grills, Burgers, Seafood and sushi. It is also fully licenced.
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The Restaurant opens at 10am in the morning, staff arrive a bit earlier to do prep work. Product is bought from various suppliers who deliver goods to the Restaurant.
How are the clients attracted to the business?
The Restaurant is well situated and well known with a regular customer base. There is an active website in place but no active marketing takes place.
What Advertising/Marketing is carried out?
Other than the website, no other active marketing campaigns are engaged in.
Does the business have any contract work?
What competition exists?
There are other specialised take away/ Restaurants in the centre.
What are the seasonal trends?
Is the business VAT Registered?
What VAT documentation is on file?
Up to date reports are available
Are there up-to-date Management Accounts available?
Yes, up to and including August 2017
What Balance Sheet and Income Statements are available?
Only Management accounts and point of sale information is available
What percentage of the business is cash/credit?
The customers either pay with cash or credit cards
Is Seller finance available and for what amount?
No, the business is well priced and the seller expects a cash offer.
What is the payback period?
What is the ROI?
Who is the bookkeeper/Accountant?
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
9 Kitchen staff which includes chefs, a sushi specialist etc. And 8 waiters.
Do any receive special perks or incentives?
No, but the kitchen staff is on a fixed salary and the waiters earn commission and tips only.
Are they on contract?
Kitchen staff are employed on a permanent basis, but waiters are all casuals. They earn well so most have been around for a long time.
Do any have management potential?
Yes, two staff members take care of the business when the seller is away on leave.
How involved is the Owner in running the business?
The owner or his wife are in the business most of the time, but take several vacations per year when the two other staff members take care of the business.
When does the current lease end?
Is there an option of renewal & what period?
Yes, for a further 3 years
What is the annual escalation %?
9% at the moment
What are the trading hours?
10am to 10pm
What is the square meters of the business?
+- 400 sqm, includes outside seating area.
Who is the Owner/Landlord?
Broll are the managing agents
Is a copy of the lease available?
Do you require a licence?
No, but the liquor licence needs to be transferred.
What lease deposit and/or other surety is required?
2 months rent
What are the main assets of the business?
Equipment, fridges, chairs , tables cutlery etc.
Are any items not included in the sale?
Everything is included in the sale.
What is their overall condition?
Do any require repairing?
Continuous maintenance is needed to keep machines in good working order.
How have they been valued ?
By the seller
Are they presently insured?
Yes, they are insured.
Well situated in a good centre, surrounded by a fast growing area. Wide menu catering for most tastes. Non Franchise, so no monthly royalty fees. The business is well established and been around for several years.
There are no weaknesses that is prevalent at the moment.
There are other food suppliers in the area, so it is important to maintain standards.
What is the reason for the sale?
The seller is buying a guest house
Why is this a good business?
Extremely well situated in a busy and affluent area.
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