Fully describe the business's activities?
This Bistro / restaurant is an Urban Cafe with a french twist, located in a well known mall. The trading area is a higher income residential area, with office blocks and industrial businesses in close proximately to the mall. The location is very good. A unique feature is a picturesque outside seating area that spills out into the fountain court of the mall and is surrounded by a lush garden with shady trees. Best known for gorgeous decor, great food and friendly staff, there is a variety of live entertainment and specials in the evenings, Live Blues Music on Wednesdays and Quiz nights on Thursdays.
How long has the business been established?
The business was established in 2015.
How does the business operate on a daily basis?
The restaurant is owner and manager run and they open and close daily. - Ordering of stock - Stock takes - Manage staff and work the floor to engage with clients and ensure best service delivery.
How are the clients attracted to the business?
- High flow of foot traffic - Word of mouth - Specials and weekly entertainment
What Advertising/Marketing is carried out?
None. Only word of mouth
What competition exists?
There are some in the immediate area.
What are the seasonal trends?
Business increases substantially in summer.
Are there up-to-date Management Accounts available?
We have on file an income and expenses account from March 2018 ending December 2018
What Balance Sheet and Income Statements are available?
The Accountant is in the proses of completing the financial statements.
What percentage of the business is cash/credit?
30% Cash and 70% Card Transactions
How could the profitability of the business be improved?
- Attracting more clientele through a focused local store marketing plan. - Counter / take a way sales.
Is Seller finance available and for what amount?
No, cash sale.
What is the total staff complement?
-11 staff members -1 Manager -1 Bartender -3 Chefs -1 Scullery -5 Waiters
How involved is the Owner in running the business?
Daily, open to close.
When does the current lease end?
What is the annual escalation %?
What are the trading hours?
- Monday to Tuesday from 7:30 to 19:00 - Wednesday to Friday from 7:30 to 21:00 - Saturday to Sunday from 8:00 to 16:00
What is the square meters of the business?
Is a copy of the lease available?
Yes, can be supplied on request
Do you require a licence?
The current liquor licence to be taken over.
What lease deposit and/or other surety is required?
To be negotiated by the new owner, but currently twice the monthly rental. Current monthly rental amounts to R11,000.
What are the main assets of the business?
Typical restaurant equipment. - An assets list is available.
What is their overall condition?
Very well maintained and looked after.
How have they been valued ?
Owners valuation estimated at R600 000.
- A well-established restaurant / bistro / urban cafe in a well-known mall in an upmarket residential area. - Well Supported by the local community. - Very well located and near the business office blocks and industrial areas.
- Marketing - a local store marketing plan needs to be implemented.
- There is a lot of business offices and an industrial area that could be tapped into.
What is the reason for the sale?
The current owner wants to pursue a full time career and this limits his time to manage the business to its potential.
Why is this a good business?
- This business shows good profits. - Not a franchise, overheads are lower than that of the competition. - Great positioning and high foot fall.
What is the price plus stock and the net profit?
The purchase price is R970 000, plus stock of roughly R30 000. Profit of R306 208 for a period of 10 months from March 2018.
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