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Annual turnover

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  • Mandate: 32127
  • Added: 28 May 2018
  • AFS
  • 412

Restaurant on N2 Highway in popular Garden Route holiday town

Western Cape, Garden Route
412
Mandate 32127
Added 28 May 2018
R 3,580,000* ZAR
Stock: R 80,000
Assets: R 497,177
R 102,456 ZAR
Noel Heath
(PRINCIPAL)
Aldes Triumph
Western Cape
Western Cape
Summary

Long established and busy, this restaurant in garden setting of small traders village is very well supported and has received many accolades on Trip Advisor and other media. Seating for up to 120 diners also lends this restaurant to cater for functions such as weddings, birthday parties etc. Supported by locals as well as visitors...over 18000 visitors in the village over December 2017

Restaurant on N2 Highway in popular Garden Route holiday town
SELLING PRICE AFS
R 3,580,000* ZAR
Stock: R80,000
Assets: R497,177
R 102,456 ZAR
Summary

Long established and busy, this restaurant in garden setting of small traders village is very well supported and has received many accolades on Trip Advisor and other media. Seating for up to 120 diners also lends this restaurant to cater for functions such as weddings, birthday parties etc. Supported by locals as well as visitors...over 18000 visitors in the village over December 2017

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Fully describe the business's activities?
A la Carte restaurant well situated with fine dining and liquor license. Bakery Roastery Liquor License Outdoor Dining Ideal function venue

How long has the business been established?
Since 2007

How long has the owner had the business?
Since 2016

How does the business operate on a daily basis?
The Owner does not play an active role in the day to day management of the business itself, but has a structured team in place supported by training students who assist with the various functions.

How are the clients attracted to the business?
Well located on busy N2 at popular holiday and tourist town.

What Advertising/Marketing is carried out?
Face Book. Roastery and Artisan Breads represented at a local weekly market. Strong following by locals. Village has a weekly market day which brings in strong foot count.

Does the business have any contract work?
The business itself supplies numerous outlets with coffee/bread for resale. A small roaster is on premises to supply the requirements of the restaurant itself.

What competition exists?
There are numerous eating places in town, but this is quite unique and no other restaurant/food supplier may trade in the village without permission of the restaurant lease holder.

What are the seasonal trends?
As is the nature of this region, May and August are quiet months, but ideal for giving staff leave and maintenance of the premises. The holiday season can be chaotic but extremely profitable, with 18000 visitors having visited the village over December 2017.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Up to date as and when required.

Are there up-to-date Management Accounts available?
When Required.

What percentage of the business is cash/credit?
Cash is in region of 35% and Credit Cards are around 65%.

What is the age analysis of the debtors book?
There is a very small amount due for supply of coffee/bread but no out-standings on the restaurant business itself.

How could the profitability of the business be improved?
There are various opportunities still, such as promoting of the venue for functions and more emphasis on sales of artisan bread through the restaurant itself.

What is the total staff complement?
There is a team of about 25 staff members exclusive of the Owner, and a well structured team are in place. A Front of House Manager overseas all aspects of customer service, and a structured team is in place for the kitchen, comprising Scullery Assistants, Salad makers, Hot Kitchen staff and Bakery as well as a pastry chef. There is a standard dress code in place too. The restaurant is also utilised as a training point for students who assist in all aspects of management. 80% of the staff have been with the restaurant since they started trading

Do any receive special perks or incentives?
All tips are retained by the staff.

How involved is the Owner in running the business?
The Owner overseas the general management of the business and is not in attendance every day, but visits the business as he feels necessary.

When does the current lease end?
June 2021

Is there an option of renewal & what period?
Yes, subject to negotiation.

What is the annual escalation %?
Negotiable, but a turnover clause is in place.

What are the trading hours?
364 days per year, 08-00 to 5-00pm. Bakers come on duty at 4am.

Is a copy of the lease available?
Yes, Selling agent has it on record.

Do you require a licence?
The Liquor License is off site and held by the Lease Holder which is convenient.

What are the main assets of the business?
A comprehensive asset list is on record with the Selling Agent. There is a very good CCTV system in place, providing for remote monitoring of the various stations of the business. A very efficient POS System (Gaap) is in use and will be taken over by the Buyer. There is a very good UPS System allowing lighting and POS to be used if power outage occurs.

Are any items not included in the sale?
There are a few small personal effects which will be removed once pointed out to the Buyer. There is one fridge that is on consignment to the restaurant.

What is their overall condition?
Almost all the assets are in very good working order but there are a few under counter fridges that may need maintenance.

Do any require repairing?
Possibly before or after take over by a new Owner.

How have they been valued ?
Owners second hand valuation.

Are they presently insured?
Yes, all assets are insured as are the plate glass windows.

Strengths?
Location. Look and Feel. Interesting menu. Roastery and Artisan Bread, also supplied to third parties.

Weaknesses?
Two quiet months per annum during the winter season need to be provided for. December trading needs to be well prepared for to ensure that business opportunities are fully utilised.

Opportunities?
Introduce live music. Night trading especially over season. More focus on introduction of events and functions.

Threats?
There are no known threats.

What is the reason for the sale?
The Owner has numerous other interests within SA and abroad, such as the coffee roastery and artisan bread supply and distribution. With young children he feels that an overseas education may be preferable.

Why is this a good business?
This is a very good business for an experienced and entrepreneurial restaurateur as the location and visibility and branding are all excellent, and holiday makers and locals frequent the village continually. The outdoor and indoor seating is rural and relaxed with adequate secure parking, and the village has a strong following especially over weekends and also on "Market Day"

What is the price plus stock and the net profit?
The price is negotiable around R4 Million and stock on hand is in the region of R80,000. Profit before Owners drawings is in the region of R100K per month

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FRANCHISE DETAILS

Aldes Triumph

1 members
25 active mandates
Western Cape
8A Loerie Street, Bergsig
6529

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