Fully describe the business's activities?
This restaurant and bar serves authentic Thai cuisine in a beautiful sit-down street front restaurant. All systems and training are in place for an owner/operator to make the most of this great location.
How long has the business been established?
Since May 2014
How long has the owner had the business?
Since May 2014
How does the business operate on a daily basis?
The business is completely staff run, doing mostly lunch and dinner trade, both sit-down and take away. The business does not have it's own delivery vehicle and relies on UBER Eats/Mr Delivery/Delivery Extreme.
What Advertising/Marketing is carried out?
Nothing has been done during 2017
What competition exists?
There are many alternative restaurants to choose from in the district, but nothing competing directly.
What are the seasonal trends?
The revenues are fairly stable month on month.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
A little cash, but majority pay with a card.
How could the profitability of the business be improved?
Any marketing effort would improve the prospects.
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
- 3 x Managers (2 Restaurant + 1 Bar) - 1 x Doorman (Bar) - 2 x Bartender (Bar) - 1 x DJ (Bar) - 1 x Promoter (Bar) - 1 x Head Chef - 1 x Deputy Chef - 1 x Kitchen Prep - 1 x Kitchen Wok - 2 x Scullers
Are they on contract?
5 Permanent & the rest casual.
Do any have management potential?
Yes, the operation is fully manager run.
How involved is the Owner in running the business?
Very little involvement at this point: Weekly visits to the store to collect paperwork, handles payment of creditors & monitors Cost of Sales.
When does the current lease end?
On a month-to-month
Is there an option of renewal & what period?
Yes 2 years
What is the annual escalation %?
What are the trading hours?
Restaurant - 11:00 to 22:00 Monday to Sunday Bar - 17:00 to 02:00 Thursday to Saturday
What is the square meters of the business?
Do you require a licence?
What lease deposit and/or other surety is required?
1 Months rental deposit and personal surety
What are the main assets of the business?
Are any items not included in the sale?
Yes, only as specified on the asset list.
What is their overall condition?
Which assets are on lease/HP and with whom?
No Hp's in the business.
Are they presently insured?
- The business operates from a very strong location; - A high quality menu;
- Shared bathroom between the bar and the restaurant; - Parking can be an issue during very busy times.
- The shop desperately needs marketing, - Collaborate with the Franchisor on new special menu items.
- A direct competitor opening in the area.
What is the reason for the sale?
This operation is the smallest in a number of businesses the seller oversees and is not getting the attention it requires, yet still generating decent margins. The opportunity exists to grow off a strong fundamental base and maximize the model in place.
Why is this a good business?
The opportunity exists to grow off a strong fundamental base and maximize the model in place. With very little effort, the systems in place are still generating profits, attention to the shortcomings is an opportunity for fast growth.
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Annual Turnover Amount between R 500 thousand and R 6 million