Fully describe the business's activities?
Popular, upmarket Sports bar/Nightclub with a loyal regular customer base and is manager run. Business activities include revenue from gambling machines and pool tables. The business is very well supported by the various liquor companies. Just the revenue from the gambling machines is sufficient to cover the monthly rent of the business!
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
The business is manager and staff run with owner oversight
How are the clients attracted to the business?
Outside marketing with posters and Corex boards Word of mouth from very loyal regulars Business has about 11,000 likes of Facebook
What Advertising/Marketing is carried out?
Online (Social media) Flyers once a month Posters twice a month
Does the business have any contract work?
What competition exists?
Being in the CBD, there are "small" taverns around but this business is more upmarket
What are the seasonal trends?
Peaks during May, June and July, with December and January being quieter
Is the business VAT Registered?
What VAT documentation is on file?
All the returns are on file
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
70% Cash (this is banked) 30% Card
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Run aggressive specials (rush hours) to draw feet Host Big Artists per month (Events)
Is Seller finance available and for what amount?
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
3 x Managers 5 x Barman 5 x Bouncers 6 x Cleaners 1 x Admin
Do any receive special perks or incentives?
Yes the managers receive target bonus incentives for performance
Are they on contract?
Yes all staff are
Do any have management potential?
Managers already in place
How involved is the Owner in running the business?
There is daily oversight by the owners
When does the current lease end?
In 3 years time
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
11:00 - 02:00 Seven Days a week
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
Yes, Liquor, Trading, Gambling, Gas Certificates, etc.
What are the main assets of the business?
Seller will supply a asset list but basically all the equipment and furnishings in the business
Are any items not included in the sale?
All included as per the asset register
What is their overall condition?
Do any require repairing?
No, ongoing repairs and maintenance is performed
How have they been valued ?
Which assets are on lease/HP and with whom?
The POS is on rental
Will Seller settle or Buyer to take over?
Buyer to take over POS rental
Are they presently insured?
Business is insured
Strong regulars Great location Strong supplier support Strong marketing
Expansion on gambling license to house more than 5 machines
Small taverns (competition)
What is the reason for the sale?
Owner has bought a new property and wants to get away from leasing property
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Annual Turnover Amount between R 500 thousand and R 6 million