Fully describe the business's activities?
Restaurant Grill & Steakhouse
How long has the business been established?
How long has the owner had the business?
Owner established the business, seller looking at setting up more units alike.
How are the clients attracted to the business?
Only steakhouse in the area and is highly recommended.
What Advertising/Marketing is carried out?
Social media advertising & Newspapers.
Does the business have any contract work?
What competition exists?
What are the seasonal trends?
Business tends to be busy during December Easter & School Holidays. Business constant throughout the rest of the year.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Yes, Up to Date
What percentage of the business is cash/credit?
How could the profitability of the business be improved?
More marketing, currently registered with Mr Delivery that is registered with more than 300 000 customers.
Is Seller finance available and for what amount?
Seller is willing to negotiated on this point.
What is the total staff complement?
Are they on contract?
Do any have management potential?
Yes in place
How involved is the Owner in running the business?
50% of the time
When does the current lease end?
3 Years ends in 2021
Is there an option of renewal & what period?
Yes, for a further 3 years
What is the annual escalation %?
What are the trading hours?
Mondays - Saturday 10am - 8pm
Is a copy of the lease available?
What lease deposit and/or other surety is required?
R 20 000.00
What are the main assets of the business?
Restaurant furniture, Equipment & Menu
Are any items not included in the sale?
All included as per assets register
What is their overall condition?
Do any require repairing?
None all in very good working order.
How have they been valued ?
Current market related values.
Which assets are on lease/HP and with whom?
None all paid cash
Are they presently insured?
Yes, full comprehensive insurance in place.
Only steakhouse in the area, the quality of the food is outstanding and being getting rave reviews for the past 4 months. Furthermore it is the only halaal restaurant in the area, added advantage that it caters for the muslim community within the area. Staffs are trained well that ensures good standard of service. Restaurant situated in prime location and area.
Restaurant is relatively new and needs more marketing.
Delivery service, outside catering & functions.
What is the reason for the sale?
Family reasons, owner wants to set up more units
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Annual Turnover Amount between R 500 thousand and R 6 million