Sectors / Category

Annual turnover

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  • Mandate: 32317
  • Added: 08 Aug 2018
  • AFS
  • 323

Popular Sports Bar and Nightclub

Gauteng, Pretoria
323
Mandate 32317
Added 08 Aug 2018
R 2,225,000* ZAR
Stock: R 225,000
Assets: R 313,000
R 148,152 ZAR
Frank Schrempel
(PRINCIPAL)
Aldes Orion
Gauteng, LynnwodRidge Pretoria
Gauteng, LynnwodRidge Pretoria
Summary

This is a popular Sports Bar and Nightclub in the CBD with a very loyal customer base of regular clients. Fully manager run with the owner performing a business oversight function. Being licensed for Gambling machines as well as Pool tables is also a big draw card for the clients.

Popular Sports Bar and Nightclub
SELLING PRICE AFS
R 2,225,000* ZAR
Stock: R225,000
Assets: R313,000
R 148,152 ZAR
Summary

This is a popular Sports Bar and Nightclub in the CBD with a very loyal customer base of regular clients. Fully manager run with the owner performing a business oversight function. Being licensed for Gambling machines as well as Pool tables is also a big draw card for the clients.

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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?
Since 2005

How long has the owner had the business?
Since 2005

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?
No

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?
Yes

What VAT documentation is on file?
All the returns are on file

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

What Balance Sheet and Income Statements are available?
All

What percentage of the business is cash/credit?
70% Cash (this is banked) 30% Card

What is the age analysis of the debtors book?
None

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?
No

What is the total staff complement?
21

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?
Yes

What is the annual escalation %?
8%

What are the trading hours?
11:00 - 02:00 Seven Days a week

What is the square meters of the business?
564m²

Is a copy of the lease available?
Yes

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?
Very Good

Do any require repairing?
No, ongoing repairs and maintenance is performed

How have they been valued ?
Second Hand

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

Strengths?
Strong regulars Great location Strong supplier support Strong marketing

Weaknesses?
None

Opportunities?
Expansion on gambling license to house more than 5 machines

Threats?
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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FRANCHISE DETAILS

Aldes Orion

2 members
18 active mandates
Gauteng , LynnwodRidge Pretoria
108 Lynburn Rd, Lynnwood Manor
LynnwodRidge Pretoria
0081

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