Fully describe the business's activities?
One of two businesses, with the same name, offered for sale by the Owners. The business is an independent Cafe/Restaurant /Coffee Bar open seven days a week from 8.00 am till late, offering an extensive menu that caters for every taste including Breakfasts, Snacks, and a comprehensive Dinner Menu. It also boasts a colourful, cocktail menu with a loyal fan base that keeps coming back for more s well as a wood based Pizza Oven. Live entertainment is offered several times a week. The Restaurant has both indoor and outdoor seating and caters for smokers.
How long has the business been established?
The business was established in 2001.
How long has the owner had the business?
The one Partner started the business.
How does the business operate on a daily basis?
The business opens at 7.30 in the morning to begin preparation for the day and closes late depending on activity.
How are the clients attracted to the business?
The business is well located in a suburban shopping mall at one of the entrances and has built up a firm following over the years.
What Advertising/Marketing is carried out?
Local tabloids and social media.
What competition exists?
There is one other Restaurant Coffee Bar in the Centre and one Take Away small coffee bar.
What are the seasonal trends?
Situated in a suburban shopping centre the business is constant throughout the year with a slight upturn in December.
Is the business VAT Registered?
The business is Vat registered.
What VAT documentation is on file?
All documentation will be made to qualified Buyers at a due diligence stage.
Are there up-to-date Management Accounts available?
Management Accounts are available to Feb 2018. Updates will be provided to serious buyers. For the purposes of this report the Management Accounts for the period Mar 2017 - Feb 2018 were utilised. The Accounts are Vat inclusive but the Vat input/Output difference and the Vat paid were included in the expenses.
What Balance Sheet and Income Statements are available?
The 2017 Financials are on file, 2018 Financials should be completed in the near future. All financials will be made available to qualified Buyers art a due diligence stage.
What percentage of the business is cash/credit?
The business is a cash/credit card business. There are no Debtors.
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
A Take Away Service could be catered for.
What is the total staff complement?
There are 16 employees
Give a breakdown of staff/ functions/ length of service?
1 x General Manager 1 x Junior Manager 14 x Grillers/Waitrons/Callers.
Are they on contract?
All staff have Letters of Employment
Do any have management potential?
There is a General and a Junior Manager in place. The active owner divides his time between the 2 businesses.
How involved is the Owner in running the business?
The one Partner is not actively involved. The second Partner divides his time between the two businesses .
When does the current lease end?
Is there an option of renewal & what period?
An option for a further 3 years exists.
What is the annual escalation %?
What are the trading hours?
7.30am - 12 Midnight ( depending on activity ) for seven days a week.
What is the square meters of the business?
Is a copy of the lease available?
A copy of the lease will be made available to serious Buyers at a due diligence stage.
Do you require a licence?
There is a Liquor Licence in place.
What lease deposit and/or other surety is required?
2 months Rent
What are the main assets of the business?
The Standard Restaurant Assets, including alarm systems, DVD Player and a Wood Pizza Oven. A full list of Assets will be made available to Buyers at a due diligence stage.
Are any items not included in the sale?
All items are included.
What is their overall condition?
Asstes are all in good condition.
How have they been valued ?
Assets values are shown at Cost.
Which assets are on lease/HP and with whom?
All assets are paid for.
Are they presently insured?
All assets are insured.
The business is well established with a loyal following in a busy suburban shopping complex.
No discernable weaknesses.
The business could offer a Take Away service in the area. There is also a large Apartment Block in the Centre.
The usual economic downturns.
What is the reason for the sale?
The Hands on Owner has been in the business for a long time and desires a change.
Why is this a good business?
The business is well established with a loyal following and situated in a prominent location at a well frequented shopping mall.
What is the price plus stock and the net profit?
The Price is R 770,000 plus stock of approximately R 40,000. The business generates average monthly Net Profits of R 28,000.
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