Fully describe the business's activities?
People who love loud, crazy, Mediterranean deli and restaurant type foods accompanied with the irresistible creamy lemon sauce, welcoming generosity , commitment to every day value for money and love of seafood sharing. The Business satisfies any and all cravings of seafood , soups & salads , sushi freshly prepared on the premises , traditional deserts & most importantly a special blend of herbs & spices with quality butter. Fully licensed restaurant boasting the perfect wine to be served with the appropriate seafood dishes.
How long has the business been established?
The Franchise opened its doors first in 1995. Today there are over 201 restaurants in 16 countries around the globe. From Dubai to Durban, Nelspruit to Nigeria . Internationally recognized and ocean awareness - Be kind to our environment is their motto .
How long has the owner had the business?
The Current owner is operating since 2005 and still operating the business in full passion & absolute love for people.
How does the business operate on a daily basis?
The Owner & the team follow a strict process every day from the time business opens until closing. Store is opened at 9:30am , staff meeting and motivation , 10am the store is cleaned to perfection & food preparations starts. First customer of the day walks in around 11am . Store starts getting busy with lunch time guests until about 3pm . Thereafter preparations for supper time guests . In between the Owner must sort the admin , manage staff issues , follow up on complaints from clients . By 10pm thank the team for their efforts and start cashing up . The Owner and the manager must have a 15min meeting before closing so that the new day can start with a plan .
How are the clients attracted to the business?
Main attraction is quality FOOD & SERVICE .
What Advertising/Marketing is carried out?
None at this stage by the Owner. National brand advertising for the entire group is done . The business is well known as a destination place restaurant.
What competition exists?
Competition is excellent for business . Since it creates awareness for the Owner and the staff to keep services standards high and food cost low .
What are the seasonal trends?
The business is stable throughout the year with peaks reached in August - December . The business had a revamp in September 2017 and the business was closed for a month . Business resumed back to normal fast and furiously with the October turnover peaking at R 653543-00 an continuing on this trend . March 2018 - R 587 666 & April 2018 R 533 342 respectively.
Is the business VAT Registered?
The business is VAT registered
What VAT documentation is on file?
VAT info is on file with the Business Accounting officer and shall be shown to approved buyers only
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
AFS February 2018 Please note : included in the Cost of Sales the following expense items have been included : Repairs & Maintenance , Uniforms , Cleaning , Breakages and other Consumables as per Accountant
What percentage of the business is cash/credit?
90% Cards 10% Cash
What is the total staff complement?
12 Staff plus 2 Managers
Give a breakdown of staff/ functions/ length of service?
Full staff Schedule will be disclosed to serious buyers
Do any have management potential?
How involved is the Owner in running the business?
Taking the plunge and opening your own business can be daunting, if youâre sailing solo. But if you join a Franchise business you get a streamlined franchise system that has been perfected over more than 20 years of operations. The benefit to the owner is the comprehensive support structures and well-established brand name but most importantly, you become part of the family. So why navigate the entrepreneurial seas alone when you can team-up with a partner who really knows the ropes and is passionate about your success. If the Owner cannot be involved 100% , the perfect setup would be , employing a manager with a vested interest in the business , whether that be a 10% or 15% stake in the business PTY . This will ensure loyalty and committment from both parties.
When does the current lease end?
The current lease is signed of 5 years with option to renew for further 5 years . Lease docs on file with Owner.
What are the trading hours?
Trading hours are : Monday to Sunday : 9am to 10:30pm Staff work in shifts
What is the square meters of the business?
Is a copy of the lease available?
Yes to serious buyers only
Do you require a licence?
Yes two local licenses : 1.Health certificate license 2.Liquor License Franchise approved Licensee
What lease deposit and/or other surety is required?
The Landlord determines the deposit amount . The Franchise however is there as an anchor and support to negotiate a reasonable rental.
What are the main assets of the business?
Asset list on file
Are any items not included in the sale?
Personal sentimental items in the business
What is their overall condition?
Satisfactory and well maintained
Do any require repairing?
The business was newly revamped . According to Franchise rules - the next revamp in 5 years from now The Assets are well cared for on a regular basis - ensuring smooth business operations.
Are they presently insured?
Yes insured with a reputable local insurer
1. Established business since 2005 in this area and well reputed for customer care & quality food. 2. Popular product and variety of seafood. 3. Economically priced. 4. Attracts all ethnic groups 5. Well trained staff - ongoing inhouse training 6. Excellent brand support
A weakness with a strength determines the success of the business. The intended Buyer / investor should be prepared for the long hours from 8:30am to 10:30pm Systems data update is very important for the success of this business Staff Management & motivation is compulsory in order for the team to work well Owner example is very important to be at the workplace and manage the flow of business. If the owner cannot be present - A manager with a vested interest in the business is crucial for the smooth & successful business operations . IF YOU ARE THE OWNER DESCRIBED ABOVE THEN THE REWARDS WILL BE GREAT INDEED .
Taking this business to new heights depends solely on the service received at this business . The journey from entrance to exit must impress and imprint . An empty seat costs money.
What is the reason for the sale?
Owner would like to retire & enjoy a quality life .
Why is this a good business?
Due to the Franchise systems , operations & support from the Brand. There is a paper trail process to follow so please contact me your ALDES Business Broker and i will facilitate the entire process from stage 1 to completion. ALDES & the Franchisor have an excellent working relationship to ensure a smooth transition & to source the perfect Franchisee for this profitable business.
What is the price plus stock and the net profit?
The Price is R 3.5 million excluding stock on hand Important Additional Costs to keep in mind when purchasing this profitable Business : The Franchise Joining Fee is : R 171 000 Excl Vat A non refundable Franchise Fee of : R 3000 for an interview assessment period of 3 days at a branch to test if the buyer is geared for the long hours. Super important in sourcing the perfect Franchisee. Stock Guarantee amount : R 100 000 to be held in trust account of the Franchise Attorney. Liquor License Application - R 20 000 Working Capital estimated at R 100 000 Rent Guarantee - dependant on the Landlord Gross Rental for 1st month - dependent on the landlord and negotiated by Franchisor Franchise Business Training : Training period of 4 weeks - will take place at different branches - to experience the different levels of service 1. Very busy branch 2. Semi busy branch 3. Quiet in the day and busy from 7pm until close 4. The main branch itself The idea with this training is to gear the buyer for the long hours - systems , customer care , record keeping etc from monday to sunday . Money lies in the systems and service to clients.
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