Fully describe the business's activities?
Family Restaurant and Cafe located in a Premier Coastal Entertainment venue . Seats approximately 155 patrons which includes an outside area, serving breakfast to early dinner .The business has a generator in place .
How long has the business been established?
Since September 2014
How are the clients attracted to the business?
Frequent marketing initiatives . The business is situated in a high footfall zone . Menu variety ,quality and consistency are also key drivers .
What Advertising/Marketing is carried out?
The Mall and Entertainment Venu has its own website , social media pages and engages in frequent above and below the line marketing . The business also actively utilises its own social media accounts.
What competition exists?
Various other restaurants situated at the venue .
What are the seasonal trends?
Business tends to be busy all year round with spikes in sales during the school holidays and festive season with an influx of local and international tourists .
Is the business VAT Registered?
Yes, the business is VAT registered .
What VAT documentation is on file?
All VAT documentation are on file and the sellers will provide at a due diligence stage .
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
AFS 2017 & 2018 are available .
What percentage of the business is cash/credit?
70% credit 30% cash
How could the profitability of the business be improved?
New menu ideas, structural revamp of bar and seating area with permission from the Landlord.
Is Seller finance available and for what amount?
No seller finance available .
What is the total staff complement?
14 Staff inclusive of 6 casual waiters .
Give a breakdown of staff/ functions/ length of service?
5 Chefs 2 Baristas 1 Stock Controller 6 Waiters
Are they on contract?
As per labour law, employment contracts are in place.
Do any have management potential?
Yes and to be discussed in further detail with buyer .
How involved is the Owner in running the business?
Owner devotes 80% of their time in the business .
When does the current lease end?
Is there an option of renewal & what period?
Yes an option to renew for 5 or 10 years .
What is the annual escalation %?
What are the trading hours?
Sunday to Thursday 7am to 6pm Friday & Saturday 7am to 7pm
What is the square meters of the business?
Approximately 262 square meters including storage .
Is a copy of the lease available?
Yes a copy of lease will be made available to approved buyers .
Do you require a licence?
Business trades with a liquor license .
What lease deposit and/or other surety is required?
Lease deposits and sureties required .
What are the main assets of the business?
All items associated with a restaurant going concern .
What is their overall condition?
All assets in Good working condition .
Are they presently insured?
Not insured .
What is the reason for the sale?
The Owners are relocating .
Why is this a good business?
Profitable business situated in a premier venue, run as an independent operation presents a prospective buyer with a number of options to a growth path .
What is the price plus stock and the net profit?
Selling Price @ R1,1M including stock estimated at R170K with a cashflow Net Profit of R670K pa .
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