Fully describe the business's activities?
This is a top notch restaurant in a stunning location offering fine dining bistro experience. The business also caters for functions, weddings, baby showers, kitchen teas and corporate events such as lunches, meetings, conferences, farewells and year end functions, all of which are very popular A well stocked wine cellar with a fine selection is also available to the clients While takeaways are also supported they are only a small portion of the business
How long has the business been established?
More than than eight years
How does the business operate on a daily basis?
The business is owner run with the help of a manager and sous chef
How are the clients attracted to the business?
The restaurant has excellent ratings and a very active word of mouth network
What Advertising/Marketing is carried out?
Marketing and advertising is mainly social media such as Facebook, etc. and then media such as billboards as well.
Does the business have any contract work?
No, only functions of which there are normally between around four to five a week
What competition exists?
Nothing in close proximity with the closet about 10km away
What are the seasonal trends?
It is quieter in Winter with the peak months being October, November and December
Is the business VAT Registered?
What VAT documentation is on file?
All available for due diligence
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
2017 and 2018
What percentage of the business is cash/credit?
Â±15% is cash with the balance on card
What is the age analysis of the debtors book?
They have Â±3 regular customers that pay end of each month, but this is a small amount
How could the profitability of the business be improved?
Making sure that the chef keeps up with the trends Additional advertising and marketing
Is Seller finance available and for what amount?
No, but as an alternative the seller may consider selling up to 45% to a potential buyer and staying in!
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
1 x Manager 1 x Function Co-ordinator (will also leave if 100% purchase) 5 x Waiters 9 x Kitchen staff
Do any receive special perks or incentives?
Waiters are commission based
Are they on contract?
All except the waiters have employment contracts. waiters are commission only
Do any have management potential?
Manager is already in place
How involved is the Owner in running the business?
The owner is 100% involved in running the business
When does the current lease end?
Is there an option of renewal & what period?
Yes and for five years
What is the annual escalation %?
What are the trading hours?
Closed on Mondays Open Tuesday through Sunday
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
Normal for a restaurant, liquor license, Health certificate, Gas, Extractors, Entertainment, etc.
What are the main assets of the business?
Seller will provide
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
Ongoing repairs and maintenance is performed
How have they been valued ?
Which assets are on lease/HP and with whom?
Are they presently insured?
Excellent reputation Very well known and popular Well trained and knowledgeable Staff Functions held at the venue The experience offered by the restaurant, food and venue
Demand on the owners time
Additional advertising and marketing More functions Drive lunches
What is the reason for the sale?
Looking to relocate to the coast
Discover similar, inspiring businesses for sale
Annual Turnover Amount between R 500 thousand and R 6 million