Fully describe the business's activities?
The business is an action bar which includes a tote, 5 gambling machines and 2 pool tables
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
Clients visit the bar from 9.00am to 6.00pm 7 days a week, all staff in place manger opens and closes the business
How are the clients attracted to the business?
By word of mouth, business is very well established in a busy lifestyle centre, very well supported by the locals
What competition exists?
There are no other action bars in the immediate area
What are the seasonal trends?
Business is constant through out the year and picks up in December
Are there up-to-date Management Accounts available?
Up to Date management accounts available to any serious enquiries during due diligence stages
What Balance Sheet and Income Statements are available?
Feb 2018 balance sheets are on file
What percentage of the business is cash/credit?
All cash takings
How could the profitability of the business be improved?
By more advertising and promotions at the bar
Is Seller finance available and for what amount?
Seller will consider a small percentage 10 - 15 % over a short term 6 - 12 month period
What is the total staff complement?
Staff complement is 8
Give a breakdown of staff/ functions/ length of service?
1 manager, 3 cashiers, 1 barman, 2 security guards, 1 cleaner
Are they on contract?
All staff are on a permanant basis
How involved is the Owner in running the business?
The owner visits the business twice a week
Is there an option of renewal & what period?
The new owner will have renewed lease for a period that will suit him
What are the trading hours?
9.00am to 6.00pm 7 days a week
What is the square meters of the business?
Is a copy of the lease available?
Yes, during due dillegence stages
Do you require a licence?
The owner has the relative liquor & casino licence which can be transfered
What lease deposit and/or other surety is required?
One Months Rent R 35 000.00
What are the main assets of the business?
Bar, 2 cold rooms, 5 gambling machines, 4 pool tables & shop fittings & furniture
Are any items not included in the sale?
All assets will be sold as per assets list
What is their overall condition?
How have they been valued ?
Current market related values
Which assets are on lease/HP and with whom?
All assets are paid for cash
Are they presently insured?
The owner has cover, comprehensive insurance in place
The business is in the heart of the business centre, very well supported that offers entertainment to the locals.
Business needs strict stock control to eliminate theft in the business, however the owner will assist/explain how to monitor/ control stock with point of sale in place.
What is the reason for the sale?
The owner wants to relocate back to Cape Town
Why is this a good business?
Good solid Nett profit, easy to run business
What is the price plus stock and the net profit?
The selling price is R1 350 000.00 including stock and the net profit is R 49500.00 pm
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