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Annual turnover

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  • Mandate: 32478
  • Added: 28 Sep 2018
  • AFS
  • 89

Restaurant on busy mall

Western Cape, Cape Town
89
Mandate 32478
Added 28 Sep 2018
R 1,145,000* ZAR
Stock: R 20,000
Assets: R 698,300
R 49,187 ZAR
Geoff Hatt
Aldes Atlantic
Western Cape
Western Cape
Summary

A themed restaurant with a side walk feature situated on a well known busy mall.

Restaurant on busy mall
SELLING PRICE AFS
R 1,145,000* ZAR
Stock: R20,000
Assets: R698,300
R 49,187 ZAR
Summary

A themed restaurant with a side walk feature situated on a well known busy mall.

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Fully describe the business's activities?
Restaurant ; Side walk cafe; Functions ; Catering

How long has the business been established?
20 Years

How long has the owner had the business?
Since 2012

How does the business operate on a daily basis?
The business is situated in a busy CBD mall with many surrounding buildings so its activities revolve around serving breakfasts, lunches and early dinners. It also does catering for functions being held in companies housed in the business blocks.

How are the clients attracted to the business?
The restaurant is highly visible and very well known with a side walk section which extends into the walk-way. It is dependant on customers coming off the mall as well as employees from surrounding office blocks.

What Advertising/Marketing is carried out?
Brochures and a website

Does the business have any contract work?
No

What competition exists?
There are various other coffee shops and restaurants around the CBD.

What are the seasonal trends?
They are busier in summer months with more tourists around.

Is the business VAT Registered?
No

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

What Balance Sheet and Income Statements are available?
Feb 2018

What percentage of the business is cash/credit?
Cash : 40% Credit card : 60%

What is the age analysis of the debtors book?
There are no accounts

How could the profitability of the business be improved?
By being more proactive in the surrounding office blocks, targeting new businesses ; better brochures ; more action on facebook

Is Seller finance available and for what amount?
No

What is the total staff complement?
9

Give a breakdown of staff/ functions/ length of service?
Chef, waiters, cleaners . Between 2 - 6 years service

Do any receive special perks or incentives?
No

Are they on contract?
All permanently employed

Do any have management potential?
Yes

How involved is the Owner in running the business?
Fully involved

When does the current lease end?
April 2020

Is there an option of renewal & what period?
Yes - 3 years

What is the annual escalation %?
9%

What is the square meters of the business?
133 sq metres

Is a copy of the lease available?
Yes

Do you require a licence?
Licquor licence

What lease deposit and/or other surety is required?
2 months deposit.

What are the main assets of the business?
A full asset list is on file

Are any items not included in the sale?
No

What is their overall condition?
Good

Do any require repairing?
No

How have they been valued ?
Fair market value

Are they presently insured?
Yres

Strengths?
Excellent position with lots of passing custom ; well themed ; many office blocks right next to business; excellent loyal staff

Weaknesses?
Some buildings are being revamped which cuts down on custom. BUT these are temperory in nature.

Opportunities?
Business revamps will creat more offices which turns into more feet.

Threats?
None perceived

What is the reason for the sale?
Owners are imigrating

Why is this a good business?
The business is ideally situated and is easily managed with excellent staff. It is in one of the best known malls in the CBD, is well known and has stable profitable trade.

What is the price plus stock and the net profit?
Selling price : R 1 145 000 inc Stock Stock : R 20 000

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FRANCHISE DETAILS

Aldes Atlantic

6 members
25 active mandates
Western Cape
33 Montague Drive
7441

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