Fully describe the business's activities?
Sales of Fresh Fish and take-aways, including chicken, calamari, fish, russians etc.
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
There are 6 staff members who manage the daily operational requirements of the business. The Owner visits periodically to check cash and complete banking and other admin.
How are the clients attracted to the business?
The location is excellent; situated between two national large retail stores in a very popular shopping center on busy street.
Does the business have any contract work?
Currently the business does fish smoking for a third party.
What competition exists?
There are other similar places in town, but not within close proximity.
What are the seasonal trends?
As with most coastal towns, the summer months are exceptionally busy, but winter months drop off considerably. These income extremes need to be considered with the cash flow projections.
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
As and when required for Due Diligence process.
What percentage of the business is cash/credit?
To Be Advised
How could the profitability of the business be improved?
The introduction of a few tables and chairs for use by take away customers would impact positively. The involvement of a new Owner will be of substantial benefit to this business.
What is the total staff complement?
6 Staff without the Owner.
Give a breakdown of staff/ functions/ length of service?
There is one "Fish Smoker" who also performs general assistant's duties. Till Supervisor. Senior Fish Counter hand with assistant. Counter and Sushi assistants.
Do any receive special perks or incentives?
Bonus's paid only at Owners discretion in December.
Are they on contract?
Normal employment conditions.
How involved is the Owner in running the business?
The Owner is not actively involved in the daily operational issues of this business which is impacting negatively. The Owner has other more demanding business commitments but visits periodically.
When does the current lease end?
Currently the business is on a month to month rental basis but the building Owner will consider a new 3 year lease from February.
Is there an option of renewal & what period?
Yes, February 2019 for 3 years.
What is the annual escalation %?
6 to 8% Negotiable
What are the trading hours?
Monday to Friday: 08-30 to 5-30pm Saturdays: 08-30 to 1-00pm
What is the square meters of the business?
Approximately 200sqm. Has roof storage above deep freeze and freezer. 3 phase electricity. Outside pavement area by negotiation.
Who is the Owner/Landlord?
Based in Port Elizabeth.
Is a copy of the lease available?
Do you require a licence?
No licenses required.....health regulation requirements adhered to.
What lease deposit and/or other surety is required?
1 months rental
What are the main assets of the business?
Walk in Cold Room and Walk in Freezer. Display freezers. Fish Smoker. General stainless steel table and other take away related equipment.
Are any items not included in the sale?
Yes, there are three significant items on the premises not included in the sale: 1 band saw, 1 smoker and 1 small stove.
What is their overall condition?
Assets are all in good working order.
How have they been valued ?
Owner has supplied a list of Replacement Value, Auction Value and well as Second Hand value.
Are they presently insured?
Excellent Location between Food Lovers Market and Picardi-Rebel. Business offers development opportunities. Introduction of seating and additional items on the menu will benefit.
Requires Owners focused attention.
Introduce new items on the menu. Seating place for quick meals.
There are no obvious threats known of.
What is the reason for the sale?
The present Owner is also a partner of a large and lucrative restaurant in the same town, as well as other business responsibilities. Due to personal reasons the Owner is not interested in this business for the long term. The business requires more focused attention which the Owner is not able to offer.
Why is this a good business?
The location is outstanding with high volume of shoppers passing directly past the doorway. The potential of the take away's as well as fresh fish sales is unlimited if focused upon. The rent relief by the landlord is also of significant benefit. The town was ravaged by the fires of 2017, but is now regaining its popularity and visitors are returning once more.
What is the price plus stock and the net profit?
The selling price is R400,000 exclusive of stock. S.O.H. is in the region of R30,000 and is payable upon purchase of the business. Net profit was severely impacted by recent shrinkage but used to be in region of over R30K+ per month. (Needs to be substantiated)
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