Fully describe the business's activities?
This business is located in a busy shopping centre in Johannesburg south. This is a food take away business that serve the best Pie's and is open to public.
How long has the business been established?
How long has the owner had the business?
4 Years - Owner established the business
How does the business operate on a daily basis?
This business operates within the centre hours. Every day fresh pies needs to be baked and get the shop ready for trade. Staff in place that opens and closes, stock control in a daily basis. Owner oversees the financial side & approves orders.
How are the clients attracted to the business?
A well known and respected Franchise.
What Advertising/Marketing is carried out?
National by franchisor and Centre Management local
Does the business have any contract work?
What are the seasonal trends?
Very consistent for 11 months, December peaks and almost doubles the average turnover.
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Yes, available to any serious enquiries during due diligence stages.
What Balance Sheet and Income Statements are available?
Up to date.
What percentage of the business is cash/credit?
40% cash & 60% Credit Card
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Unnecessary over heads, no need for a bookkeeper every month. Implementation of daily specials and promotions.
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
There is 3 permanent staff. 1x Manager, 1x baker and 1x selling. The manager is trained to do all duties required in this business.
Do any receive special perks or incentives?
The manager works on incentives.
Are they on contract?
Do any have management potential?
Yes, manager in place
How involved is the Owner in running the business?
10% of his day
When does the current lease end?
Is there an option of renewal & what period?
Yes, the lease period can be negotiated with the landlord.
What is the annual escalation %?
What are the trading hours?
Monday to Thursday 9am - 6pm ; Friday 9am - 7pm ; Saturday 9am - 5pm and Sundays 9am - 3pm
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
No, only approval from franchisor
What lease deposit and/or other surety is required?
2 Months rental deposit
What are the main assets of the business?
Oven and baking equipment, computer and POS system.
Are any items not included in the sale?
All included as per assets register.
What is their overall condition?
Very good, well kept
Do any require repairing?
No, all in good working order...
How have they been valued ?
Current market related values
Which assets are on lease/HP and with whom?
Nothing - all assets are paid for cash
Are they presently insured?
Yes - full comprehensive insurance in place
Good location and very good customer follow base. This business is manager run which makes this a very good investment.
A revamp is necessary.
Most new revamped stores of this kind see a 20% growth from previous look, which will make this business a very profitable business.
What is the reason for the sale?
Other business ventures taking up too much time and the current owner wants to downscale.
Why is this a good business?
This is a self-running business and no need for the owner to be there permanently. Good profit for the investment amount.
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