Sectors / Category

Annual turnover

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  • Mandate: 32193
  • Added: 15 Jun 2018
  • AFS
  • 891

Northern Suburbs Continental Restaurant

Gauteng, Johannesburg
891
Mandate 32193
Added 15 Jun 2018
R 2,420,000* ZAR
Stock: R 0
Assets: R 900,000
R 87,731 ZAR
Stan Moran
(PRINCIPAL)
Aldes Ace
Gauteng
Summary

In a beautiful garden setting in the Northern Suburbs, this continental restaurant caters for lunches and dinner, seven days a week as well as functions, children's parties and special occasions. Highly rated by customer reviews on Google and well supported by local community. Well established since 2011 and now looking for new owner.

SELLING PRICE AFS
R 2,420,000* ZAR
Stock: R0
Assets: R900,000
R 87,731 ZAR
Summary

In a beautiful garden setting in the Northern Suburbs, this continental restaurant caters for lunches and dinner, seven days a week as well as functions, children's parties and special occasions. Highly rated by customer reviews on Google and well supported by local community. Well established since 2011 and now looking for new owner.

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Fully describe the business's activities?
Family Restaurant

How long has the business been established?
7 years

How long has the owner had the business?
7 years

How does the business operate on a daily basis?
Unless for special functions, restaurant open and prepares food fresh to order.

How are the clients attracted to the business?
Reputation, positive web comments, excellent value for money, service and environment.

What Advertising/Marketing is carried out?
Social Media, print and word of mouth.

Does the business have any contract work?
No

What competition exists?
Very little in this market, in this area

What are the seasonal trends?
As a predominantly outdoor venue, winter is busier at lunchtime, whilst in the warmer months the evening dinner trade is busiest.

Is the business VAT Registered?
No

What VAT documentation is on file?
N/A

Are there up-to-date Management Accounts available?
Yes

What Balance Sheet and Income Statements are available?
To date

What percentage of the business is cash/credit?
5% cash 95% credit card

What is the age analysis of the debtors book?
N/A

How could the profitability of the business be improved?
New ideas from fresh management/ownership

Is Seller finance available and for what amount?
No

What is the total staff complement?
23 Staff. 13 full-time and 10 casuals

Give a breakdown of staff/ functions/ length of service?
Full time employees in management, kitchen and bar. Casuals as waitrons.

Do any receive special perks or incentives?
Waiters receive commission Staff meals

Are they on contract?
Yes

Do any have management potential?
Yes - two mangers employed

How involved is the Owner in running the business?
Owner is involved in training and overall management

When does the current lease end?
End 2018

Is there an option of renewal & what period?
Yes for 1 - 5 years negotiable

What is the annual escalation %?
7.5%

What are the trading hours?
Mon 10 am to 5 pm Tue - Fri 10 am to 10 pm Sat 9 am to 10 pm Sun 8 am - 5 pm

What is the square meters of the business?
?

Is a copy of the lease available?
Yes

Do you require a licence?
New owner would need to transfer liquor licence and obtain trading licence

What lease deposit and/or other surety is required?
2 months rent

What are the main assets of the business?
All kitchen and restaurant equipment, furniture, fridges, etc. Built-in wood fired pizza oven on premises.

Are any items not included in the sale?
No

What is their overall condition?
Well kept.

Do any require repairing?
No

How have they been valued ?
Market value

Which assets are on lease/HP and with whom?
None

What are their settlement amounts?
N/A

Will Seller settle or Buyer to take over?
N/A

Are copies of agreements available?
N/A

Are they presently insured?
Yes

Strengths?
Venue and location Reputation Foo, service and atmosphere

Weaknesses?
Majority of seating is outdoors, making for limited indoor seating during winter evenings

Opportunities?
Menus can always be added to with new ideas or new owner's speciality dishes. Currently used for weddings, kids parties, functions and this could be increased to improve turnover and profits.

Threats?
None

What is the reason for the sale?
New opportunities

Why is this a good business?
Great venue with ambiance. Established for seven years with good reputation Good food at reasonable prices

What is the price plus stock and the net profit?
Price is R2.42m including stock and net profit of

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FRANCHISE DETAILS

Aldes Ace

1 members
10 active mandates
Gauteng
6 Nightingale Road, Atlasville
1459

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