Fully describe the business's activities?
This day time coffee shop/ restaurant has been on site for over 20 years. It traded until 2 years ago as a franchise before becoming independent. Due to the exceptional location and loyal customers it has been business as usual. Business is run by a manager with supervisors. Owners are full time employed. Offers a range of breakfast and lunch options with no night time trade. This is a huge opportunity. Business is well decorated and chic There is a function room that is massively under utilized due to lack of marketing.
How long has the business been established?
How long has the owner had the business?
For 2 years
How does the business operate on a daily basis?
Business serves breakfast and lunches only.
How are the clients attracted to the business?
Very loyal customers come from the immediate business and residential areas. Business is very well situated on a well know street that attracts clients.
What Advertising/Marketing is carried out?
Very little with limited social media presence.
What competition exists?
There are few in the area, however the age of the business retains customers.
What are the seasonal trends?
There is a drop off around peak holidays however due to the religious mix of clients this is not as bad as some of the competitors
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
How could the profitability of the business be improved?
Extending trading into the evening. The area already draws the nigh trade so clients are already in the area.
What is the total staff complement?
7 permanent plus waitrons
How involved is the Owner in running the business?
Currently owner is not. It is assumed new owner would run the business and therefore these costs have been written back.
When does the current lease end?
there is 1 year left. New owner would negotiate new lease. premises were revamp just prior to the owners buying the business. Great look and feel!
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
M-Fri 7-6, Sat, Sun Public Holidays 7-5
What is the square meters of the business?
Do you require a licence?
What lease deposit and/or other surety is required?
What are the main assets of the business?
Kitchen equipment and operational assets
What is their overall condition?
Very well established, popular area, day trade only, huge potential still
Limited owner involvement, lack of social media, owners are no "foodies"
Night trade, maximize the private function room, bring some flair
Significantly less than competitors, as business has stood test of time.
What is the reason for the sale?
Owners are not operators, need to focus on their jobs.
Why is this a good business?
Well established, trained staff, lots of opportunities
What is the price plus stock and the net profit?
R2,9m plus stock
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