Fully describe the business's activities?
This well established Wimpy's have been around for many years.The one, relocate to the new site during 2015 and is located in a trendy mall next to the entrance of a well known and extremely busy Pick-a-Pay Family Supermarket on the Cape West Coast. Manager run. The second Wimpy is located in main mall +- 25 km from the other one in fast-growing coastal town. Both Wimpy's seats around 140 .
How long has the business been established?
The one Wimpy has been established for 13 years and the other one for 6 years
How long has the owner had the business?
The current owner has the business for 4 years
How does the business operate on a daily basis?
Wimpy 1 This well established Wimpy has been around for many years , but relocate to the new site during 2015 .Located in a trendy mall next to the entrance of a well known and extremely busy Pick-a-Pay Family Supermarket on the Cape West Coast. Manager run. Wimpy 2 This Wimpy is located in the only Mall of fast growing coastal town with tenants such as Pick-a-Pay , Checkers , Clicks , Woolworths food ,Spur and many other . This business is mainly run by the owner and one Manager
How are the clients attracted to the business?
The business is well located and easy accessible .Clients are mainly attracted to the business because of the well-known national brand and their location
What Advertising/Marketing is carried out?
Marketing and Advertising is done by the Head Office
Does the business have any contract work?
No , the business have no Contract Work
What competition exists?
Wimpy 1 Nearby Competition is a small no-name Coffee Shop in the Mall . There's also a bigger Mall (+- 5 km away) with a Spur , Wimpy and Panarottis Wimpy 2 Nearby Competition is small no-name Coffee Shop and Spur in the Mall.
What are the seasonal trends?
Wimpy 1 There's no real seasonal trends Wimpy 2 Turnover increases during weekends and holidays.
Is the business VAT Registered?
Yes, the business is VAT registered
What VAT documentation is on file?
All Vat201 returns is available on due diligent fase
Are there up-to-date Management Accounts available?
Yes , up to date Management Accounts is available
What percentage of the business is cash/credit?
100 % Cash
What is the age analysis of the debtors book?
No Debtor book
How could the profitability of the business be improved?
Wimpy 1 The Profitability of the business can be improved if the business are operated by the owner on a full-time basis Wimpy 1 and 2 The Turnover will increase if a delivery service is implemented
Is Seller finance available and for what amount?
No Seller Finance is available
What is the total staff complement?
Total Staff is 15
Give a breakdown of staff/ functions/ length of service?
Wimpy 1 Managers x 2 Grill x 4 Self-serve x 3 Kitchen x 1 Waiters x 4 Wimpy 2 Manager x 1 Cashier x 1 Waiters x 6 Grill x 4 Soft serve x 3 Other x 2
How involved is the Owner in running the business?
The Owner is involved in the overall management of both business - not on a full time basis @ Wimpy 1
When does the current lease end?
The Current lease end on December 2020
Is there an option of renewal & what period?
Yes , an option to renew for a future 5 years
What is the annual escalation %?
The Escalation is 7 % p.a.
What are the trading hours?
Trading hours are from * Monday to Saturday 7H30 -till 18H00 * Sunday from 8H30 till 14H00
What is the square meters of the business?
Wimpy 1 is 250 square meters Wimpy 2 is 320 square meters
Is a copy of the lease available?
Yes , a copy of the lease is available
This is a well known National Franchise
No weaknesses are perceived
A new Owner could advertise and offer a delivery service to surrounding businesses in the area
Standard Economic Threats
What is the reason for the sale?
The Owner wants to join the family business
Why is this a good business?
Profitable and established businesses of a well known Franchise strategically located in fast growing Cape West Coast
What is the price plus stock and the net profit?
The Price of both Wimpy's are R 5 600 000,00 (including R 100 000 stock) with a annual Net Profit of R 1 362 089 (EBITA)
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