Fully describe the business's activities?
Very well established Milky lane. Operational for many years, recently relocated in food court of large regional mall. Enjoys both covered and indoor seating. Large food courts draws clients. Operates 7 days per week. brand speaks for itself.
How long has the business been established?
Over 10 years
How long has the owner had the business?
How does the business operate on a daily basis?
Business is currently run by a manager. The costs reflected in the accounts include savings of an owner run business. Opens at 10 during the week and 9 on weekends. Clients are typically dawn from the mall.
How are the clients attracted to the business?
No marketing is done so word of mouth and the location in the mall
What Advertising/Marketing is carried out?
None other than head office
What competition exists?
There are no real direct competitors although some other brands offer some of the same products but not all
What are the seasonal trends?
Holidays would tend to be better
Is the business VAT Registered?
Are there up-to-date Management Accounts available?
Yes- note must be taken that the costs are for an owner run business.
How could the profitability of the business be improved?
Being owner operated would further increase profits due to margin management. More marketing required
What is the total staff complement?
Business has 16 staff. Business should run with 4 less if owner is present
How involved is the Owner in running the business?
Not involved daily.
When does the current lease end?
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
Mon-Thurs 10-9 Fri- Sun 9-10. Sunday hours could be reduced.
What lease deposit and/or other surety is required?
Subject to landlord
What are the main assets of the business?
Operational assets, tables chairs, kitchen equipment
What is their overall condition?
Very good, business re-vamped with relocation to current site in 2016
Do any require repairing?
No, face-lift revamp of around R80k possibly needed in 2021
Well know brand, product offering, no competition, trained staff, have value price point, products attractive to wide LSM
Owners not involved
Cake sales, marketing to many schools in area
What is the reason for the sale?
Sellers have corporate jobs
Why is this a good business?
Well established, unique, trained staff , great location
What is the price plus stock and the net profit?
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Annual Turnover Amount between R 500 thousand and R 6 million