Fully describe the business's activities?
This beef and seafood restaurant serves good quality steak and seafood at reasonable prices. Very popular and well known venue. They also serve take away using Mr Delivery.
How long has the business been established?
The business was established 21 years ago
How long has the owner had the business?
The owner founded the business.
How does the business operate on a daily basis?
The business is opened by the Manager at 10.00am and closes at 10.00pm. Bookings are taken, waiters take orders and fresh food prepared for guests.
How are the clients attracted to the business?
The owners use local press and facebook and other media to attract clients. Special birthday options are available together with daily and weekly specials at competitive prices
What Advertising/Marketing is carried out?
Does the business have any contract work?
What competition exists?
There is the normal competition in the area that you would expect.
What are the seasonal trends?
The business trend is stable all year round.
Is the business VAT Registered?
The business is vat registered
What VAT documentation is on file?
Documentation is available for due diligence
Are there up-to-date Management Accounts available?
Management Accounts will be made available for due diligence
What Balance Sheet and Income Statements are available?
Annual Financial Statements are available for due diligence
What percentage of the business is cash/credit?
The business is 100% cash and credit card
What is the age analysis of the debtors book?
There is no debtor book
How could the profitability of the business be improved?
The owner has suggested that you can Introduce Weekend Music, Loyalty Cards, Flyers and drops and more media exposure
Is Seller finance available and for what amount?
The seller will consider assisting qualified buyers
What is the total staff complement?
The staff compliment of Waiters, Grillers, Bar etc is 15
Give a breakdown of staff/ functions/ length of service?
Waiters, Grillers, Bar, Fryers, Kitchen Staff
Do any receive special perks or incentives?
Are they on contract?
All staff are on contract.
Do any have management potential?
YES. the Assistant kitchen manager could run the kitchen on his own.
How involved is the Owner in running the business?
The owner is monitors the business 100%.
When does the current lease end?
The current lease expires in 2030
Is there an option of renewal & what period?
The buyer would be required to sign a new lease
What are the trading hours?
Monday to Saturday 10.00am to 10.00pm and Sunday 11.00am to 4pm.
What is the square meters of the business?
The business has 407sm in total
Who is the Owner/Landlord?
To be advised
Is a copy of the lease available?
Yes a copy is available for due diligence
Do you require a licence?
The business has a current license
What lease deposit and/or other surety is required?
Normally one month deposit plus water and electricity
What are the main assets of the business?
The main assets of the business are those assets used in a fully functioning restaurant. An asset list will be made available for qualified buyers.
Are any items not included in the sale?
Personal items that will be identified by the seller
What is their overall condition?
Do any require repairing?
No they are all in good well maintained condition
How have they been valued ?
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
Yes all assets are insured
Goodwill, Loyalty of existing Customers, Long time in business, quality, pricing, and skilled loyal staff. A great place to dine at reasonable prices and good food.
Perhaps to try and draw on younger crowd also
What is the reason for the sale?
Owner looking for new ventures after 21 years in same business
Why is this a good business?
Well known, loyal customers, profitable and growth opportunities
What is the price plus stock and the net profit?
See mandated details
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