Fully describe the business's activities?
An extremely popular restaurant serving a well rounded menu comprising of breakfast lunch and dinner trade.
How long has the owner had the business?
The current owner has had the business 6 years
How are the clients attracted to the business?
The business has an extremely strong local following; very little local advertising marketing is done, and the business still shows great turnover. There is certainly scope for more aggressive marketing.
What Advertising/Marketing is carried out?
Very little advertising is done in the local area due the a very strong local / regular following
What competition exists?
There is some competition in the area.
What are the seasonal trends?
The north coast has always been very seasonal area December has always been a good month with school and public holidays also being strong
Is the business VAT Registered?
The business is VAT registered
What VAT documentation is on file?
VAT returns will be made available to qualified buyers
Are there up-to-date Management Accounts available?
Yes - Management accounts will be made available to qualified buyers
What Balance Sheet and Income Statements are available?
Yes - this information will be made available to qualified buyers
What percentage of the business is cash/credit?
No credit sales are taken on. All the bills are settled on completion.
How could the profitability of the business be improved?
Increased advertising as well as a more hands owner operator would certainly increase profitability.
Is Seller finance available and for what amount?
Seller finance is not available.
What is the total staff complement?
There are 18 full time staff on the payroll
Do any receive special perks or incentives?
No staff , member receive any special incentives
Are they on contract?
Yes â all staff have employment contracts in place
Do any have management potential?
With mentoring some of the staff have the ability to work unsupervised however it is suggested the new owner is more involved in the business.
How involved is the Owner in running the business?
The owner has other business interests that have taken up much of his time, there are 2 managers on site who have run the business effectively whilst he has been of site.
When does the current lease end?
What are the trading hours?
6:30 - 21:30
What is the square meters of the business?
Inside 300sqm, with a large covered outside area.
What are the main assets of the business?
Computers, all fridges, coffee machines, ovens etc.
Are any items not included in the sale?
All assets are included in the sale
What is their overall condition?
Do any require repairing?
Not at the moment, all assets are in good working order
How have they been valued ?
Assets have been valued at current market value
Are they presently insured?
All assets are fully insured
What is the reason for the sale?
The current owner is involved in various other business ventures to give this business the time it needs.
Why is this a good business?
The business is a successfully running and setup restaurant it already has a very good name and extremely string local following - a more involved, hands on owner operator would be able to take this to the next level. That coupled with the various housing developments in the area means there is also huge potential for growth.
What is the price plus stock and the net profit?
Selling price: R2,000,000 Net Profit: R100,000 PM Stock: R100,000
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