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.
Any competitive Brand that could open in close proximity.
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 reduced 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 but trading above breakeven already.
What is the price plus stock and the net profit?
Selling for R600 000 as a going concern. RIO of 16%. Seller is open to offers!
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