Fully describe the business's activities?
A established store in a popular flamed grilled chicken franchise restaurant chain that serves take-aways and has space for 30 customers to sit down. The restaurant is well positioned in a busy strip-mall next to a busy road and has attractive shop frontage. The business is well run, with fully trained staff and great reputation in the area. Good franchise support and back-up with low royalty fees. Room for growth with an active owner or manager in place.
How long has the business been established?
The owner opened the store in 2014.
How does the business operate on a daily basis?
The business are managed by a husband and wife team. They open and close every day and handle all orders, payment and managerial activities. They have a well trained staff in place that have been with the business since inception. The business focus more on Take-away and deliveries and most of their customers are walk-in trade.
How are the clients attracted to the business?
The business is well located and easy accessible. The owner does flyer drops and street pole advertising on an ad hoc basis.
What Advertising/Marketing is carried out?
Most advertising and marketing is done by the Franchisor on a national basis. There is a opportunity for a new owner to doe more local advertising and marketing.
What competition exists?
The shopping centre has a small "food court". None of the other restaurants in the centre serves the same menu. There are similar franchises situated in the area.
What are the seasonal trends?
Winter tends to be a quieter month for business, however the figures show a consistent turnover with a peak in December.
Is the business VAT Registered?
The business is a VAT Vendor.
What VAT documentation is on file?
The accountant will be able to provide a interested buyer with all the tax and vat related inquiries.
Are there up-to-date Management Accounts available?
The owner provided us with his in-house management accounts.
What percentage of the business is cash/credit?
50% Cash 50% Card
How could the profitability of the business be improved?
By doing extra local marketing and advertising. A new owner should focus more on deliveries as there is a huge potential to increase sales.
What is the total staff complement?
10 permanent staff members
Give a breakdown of staff/ functions/ length of service?
1 x driver/deliveries 2 x cashiers 2 x Grillers 5 x Kitchen/General
Do any receive special perks or incentives?
All staff receive basic salaries and the owner also provides a small contribution for transport.
Are they on contract?
All staff have up-to-date employment contracts.
Do any have management potential?
One staff member is very trustworthy, loyal and capable to handle some managerial tasks but will have some struggles with customer relations.
How involved is the Owner in running the business?
The owners wife is at the business during the day and he assist in the evenings. The business is mostly owner run, but its not possible to be at the business as much as they would like.
When does the current lease end?
Current lease ends April 2019
Is there an option of renewal & what period?
There's an option to renew for 5 years.
What is the annual escalation %?
What are the trading hours?
Monday - Saturday 10:00 - 23:00 Sundays 10:00 - 21:00
Is a copy of the lease available?
What lease deposit and/or other surety is required?
1 month rental will be required.
What are the main assets of the business?
A full asset list will be provided. Main assets include: Walk-in Fridge and Freezer Oven and grillers Delivery Bike
Are any items not included in the sale?
Personal Laptop will not be included.
What is their overall condition?
Everything is in a good and working condition.
How have they been valued ?
The owner provided us with a value.
Which assets are on lease/HP and with whom?
Are they presently insured?
Business is comprehensively insured.
- Great Location (Anchor tenant, busy centre, easy accessible, lots of feet) - Well trained staff - Good Franchise support - Development around the centre increasing feet.
- No manager in place, owner dependent
- Doing more local marketing - Focusing on deliveries and boosting the sales.
What is the reason for the sale?
The owner and his wife would like to retire.
Why is this a good business?
This is a great business part of a good franchise group. The business is in a great location, busy centre with lots of passing trade. This take-away is popular choice for customers due to the high quality food and good reputation they've already acquired. Room for growth.
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Annual Turnover Amount between R 500 thousand and R 6 million