Fully describe the business's activities?
Well Known Portuguese Chicken Restaurant and Take Away that trades 7 days a week out of a prime site situated in local shopping centre in Centurion.
How long has the business been established?
How long has the owner had the business?
Since Inception 2 years ago.
How does the business operate on a daily basis?
Both Supervisors open and close the business on a daily basis, see to the overall operation of the restaurant which offers a set menu prescribed by the Franchisor with a focus on traditional Grilled Portuguese Chicken dishes. The legal entity also holds a liquor licence for the restaurant.
How are the clients attracted to the business?
Signage and High Visibility in popular Centurion Shopping Centre.
What Advertising/Marketing is carried out?
Mostly local marketing through knock and drops and hand-outs.
What competition exists?
Other Franchised Outlets within surrounding centre's.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
2017 & 2018 AFS Available.
What Balance Sheet and Income Statements are available?
Is Seller finance available and for what amount?
No, cash sale.
What is the total staff complement?
Total of 5 staff.
Give a breakdown of staff/ functions/ length of service?
The 2 Supervisors man the front desk and process orders and ensure service excellence, balance of staff were all trained to work the grill / kitchen area which includes kitchen preparation and stock counts.
Do any receive special perks or incentives?
Supervisors receive a travel allowance.
Are they on contract?
Do any have management potential?
How involved is the Owner in running the business?
Not hands-on or involved daily, but performs regular checks and inspections during the week.
When does the current lease end?
31 May 2021
Is there an option of renewal & what period?
Yes, period negotiable.
What is the annual escalation %?
What are the trading hours?
Mon to Friday 09:00 to 20:00 and Weekends 09:00 to 22:00
What is the square meters of the business?
Is a copy of the lease available?
What lease deposit and/or other surety is required?
2 months rent plus sureties.
What are the main assets of the business?
Fixtures, fittings and equipment, signage and stock. There is a liquor licence held by the Legal Entity.
Are any items not included in the sale?
Liquor Licence unless a deal is structured to buy over the Legal Entity.
What is their overall condition?
Do any require repairing?
How have they been valued ?
Balance Sheets - To start up a new business will cost R1 800 000.
Location and Rental, very good rental / lease in place. No restaurants in the immediate area that offer a similar product.
Owner involvement, which is limited.
The legal entity does hold a liquor licence which could be used to increase revenue and profits with the sale of complimentary beverages. There is an option to de-identify from the Franchised Brand and continue operating under a private trading name.
a Decision to de-identify could result in a loss of revenue.
What is the reason for the sale?
Business Owner needs to dedicate all available time and resources to other business interests.
Why is this a good business?
Selling for a very low price, well below asset value. a Similar Franchise will cost upwards of R1 800 000 to start up. Consider this to be equal to establishing a new business at a fraction of the setup cost with breakeven only R5 000 in additional revenue away.
What is the price plus stock and the net profit?
Selling for R650 000.
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