Fully describe the business's activities?
Simply Asia Galleria Mall is a fully fledged restaurant with takeaway, situated in the appropriate section of Galleria Mall. Simply Asia is a successful nation wide franchise (that has over 50 stores nation wide). The restaurant is fully staffed and assetised. The owner is only selling because he is unable to dedicate sufficient time to this restaurant due to his other commitments. Simply Asia Galleria needs an owner operator to unlock its full potential.
How long has the owner had the business?
This restaurant was opened by the owner three years ago.
How are the clients attracted to the business?
Passing trade - good location, well know franchise, etc.
What Advertising/Marketing is carried out?
Franchisor - website etc. Franchisee - facebook, email, flyers etc.
What competition exists?
There are other restaurants and takeaways in the Mall, but this is the only Thai.
What are the seasonal trends?
Peak at Xmas/New Year, extremely busy all school holidays.
Is the business VAT Registered?
The business is VAT registered and complete documentation is available to pre-qualified buyers.
Are there up-to-date Management Accounts available?
Management accounts are timeously produced.
What Balance Sheet and Income Statements are available?
The February 2018 Annual Financial Statements are available.
How could the profitability of the business be improved?
The business needs an owner operator - reduce cost of sales to industry norm, reduce salaries and wages.
Is Seller finance available and for what amount?
Seller finance is not available.
What is the total staff complement?
There are 15 staff including Chefs.
Are they on contract?
The staff are all on employment contracts.
How involved is the Owner in running the business?
The owner is not sufficiently involved in the business and with his time constraints is not able to be more involved.
When does the current lease end?
The current lease expires in 2020, however a new lease will be negotiated for the new owner.
What are the trading hours?
Weekdays 11am- 9pm and Weekends 11am-10pm.
What is the square meters of the business?
There are 173sqm inside and an outside passage area of 24sqm.
What is the reason for the sale?
The owner is not able to dedicate sufficient time to the business.
Why is this a good business?
The restaurant is fully kitted out, fully staffed, part of a successful nationwide franchise. Ideally situated in large, busy Mall.
What is the price plus stock and the net profit?
The selling price is R 1.275 mill plus stock (estimated at R60k). The business ran at a small loss for the FY2018 but its potential will be unlocked by an owner operator. It is for sale for less than the cost of a new set up.
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