Fully describe the business's activities?
This is a Fish and Chips take away shop serving freshly made hot food. Has an eat in area too
How long has the business been established?
How long has the owner had the business?
For 3 years
How does the business operate on a daily basis?
Serves walk in customers from its selective menu
How are the clients attracted to the business?
Shopping centre advertising, walk ins
What Advertising/Marketing is carried out?
Only what the centre offers , no additional advertising done by owner
Does the business have any contract work?
Not at present
What competition exists?
There are various fast food restraurants in the mall
What are the seasonal trends?
Busiest during month end
Is the business VAT Registered?
The business is VAT registered
Are there up-to-date Management Accounts available?
Available on file, owner is also willing for buyer to spend time within shop to prove figures. Monthly GAAP reports is also available for dd purposes.
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
The business requires commitment from owner or appoint a manager. There are potential managers within the existing staff members.
Is Seller finance available and for what amount?
Seller would consider
What is the payback period?
It is negotiable
What is the ROI?
Who is the bookkeeper/Accountant?
Business uses GAAP system
What is the total staff complement?
4 permanent staff and 1 temp
Give a breakdown of staff/ functions/ length of service?
Business started with the current staff
Do any receive special perks or incentives?
Not at present
Are they on contract?
Staff is permanent
Do any have management potential?
Yes, there is potential
How involved is the Owner in running the business?
Initially the owner was 100% involved, which has since decreased due to other business interests.
When does the current lease end?
The lease is renewable in July with a promised decrease in rental amount.
Is there an option of renewal & what period?
Yes, 3 years
What is the annual escalation %?
Information is available on lease
What are the trading hours?
9am - 8pm
What is the square meters of the business?
Information available on lease copy
Who is the Owner/Landlord?
Information is available on lease agreement
Is a copy of the lease available?
Do you require a licence?
No licence required
What lease deposit and/or other surety is required?
Information is available on lease agreement.
What are the main assets of the business?
Kitchen equipment Fridges
Are any items not included in the sale?
No, everything is included
What is their overall condition?
Good working order
Do any require repairing?
None need repairing
How have they been valued ?
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
Only Fish and Chips in the mall
Limited menu options
New owner can increase menu offering, and do deliveries
Other fast food shops in the mall
What is the reason for the sale?
Owner wants to relocate
Why is this a good business?
It's a fast food convenience for the working staff in the shopping mall, it is well run and good staff turnover
What is the price plus stock and the net profit?
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Annual Turnover Amount between R 500 thousand and R 6 million