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Annual turnover

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  • Mandate: 32861
  • Added: 13 May 2019
  • AFS
  • 103

Quaint Greek Restaurant in Pretoria

Gauteng, Pretoria
103
Mandate 32861
Added 13 May 2019
R 2,300,000* ZAR
Stock: R 100,000
Assets: R 700,000
R 66,972 ZAR
Driekie Louw
Aldes Focus
Gauteng
Summary

This lovely Greek restaurant is enjoying their new premises within the restaurant hub of Pretoria East. Family run.

Quaint Greek Restaurant in Pretoria
SELLING PRICE AFS
R 2,300,000* ZAR
Stock: R100,000
Assets: R700,000
R 66,972 ZAR
Summary

This lovely Greek restaurant is enjoying their new premises within the restaurant hub of Pretoria East. Family run.

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Fully describe the business's activities?
A sit down Greek restaurant run by a family of four. 65-70 seater Situated in a cozy restaurant hub in Pretoria East

How long has the business been established?
The business has been established for five years and relocated one year ago to their new premises

How does the business operate on a daily basis?
Father/son opens and closes daily. Son acts as manager Mother/daughter oversees the kitchen

What Advertising/Marketing is carried out?
The business is actively marketed on Facebook and also enjoyed a very favorable article in the Readers Choice.

What competition exists?
The business is situated among other restaurants but it is the only Greek restaurant in the area.

What are the seasonal trends?
The business enjoys mostly evening trade. December through to February is usually a bit slower.

Is the business VAT Registered?
Not yet, but have applied.

Are there up-to-date Management Accounts available?
Accountant provided us with management accounts ending January 2019.

How could the profitability of the business be improved?
By offering their unique products the business enjoys a high markup

Is Seller finance available and for what amount?
No. Cash offers only.

Give a breakdown of staff/ functions/ length of service?
Managed by Owner and son Oversees kitchen - Owner's wife and daughter. 2 x Bar 7 x Kitchen 3 x waiters during the week 5/6 x waiters over the weekend

Do any receive special perks or incentives?
Salaries only.

Do any have management potential?
No.

How involved is the Owner in running the business?
Owner is there daily for around four hours.

When does the current lease end?
One year left.

Is there an option of renewal & what period?
3 - 5 years option to renew

What is the annual escalation %?
8%

What are the trading hours?
Monday to Saturday from 11:00 - 21:00 Sundays from 11:00 - 16:00

What is the square meters of the business?
100 sq/m plus bathroom facilities and storage.

Who is the Owner/Landlord?
Atterbury

Is a copy of the lease available?
A copy of the lease is available from the owner.

Do you require a licence?
Liquor license

What lease deposit and/or other surety is required?
Approximately R35 000

What are the main assets of the business?
Kitchen equipment

What is their overall condition?
Everything is in a good and working condition

How have they been valued ?
Owner assisted us with the valuation

Are they presently insured?
Yes.

Strengths?
Unique products used to provide good quality food and excellent service.

Weaknesses?
Restaurant hours No management in place but owner will assist the new owner with comprehensive training.

Opportunities?
Deliveries can be done Functions hosted Expand the premises

Threats?
None were identified

What is the reason for the sale?
Owner wants to retire and immigrate

Why is this a good business?
A well run operation with good systems in place that can easily be transferred to a new owner.

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FRANCHISE DETAILS

Aldes Focus

5 members
27 active mandates
Gauteng
Menlyn Woods Office Park Office Block C 291 Sprite Street Faerie Glen
0081

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