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  • Mandate: 33126
  • Added: 30 May 2019
  • AFS
  • 288

Themed Restaurant and Dinner Theatre experience - Three branches nationally

Western Cape, Cape Town
Mandate 33126
Added 30 May 2019
R 3,900,000* ZAR
Stock: R 150,000
Assets: R 1,500,000
R 95,634 ZAR
Kutu Venter
Aldes Alpha
Western Cape
Western Cape

3 Themed Restaurants located in Cape Town, Johannesburg and Pretoria offering a Dinner Theatre experience.

Themed Restaurant and Dinner Theatre experience - Three branches nationally
R 3,900,000* ZAR
Stock: R150,000
Assets: R1,500,000
R 95,634 ZAR

3 Themed Restaurants located in Cape Town, Johannesburg and Pretoria offering a Dinner Theatre experience.

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Fully describe the business's activities?
The business has three unique concept / themed restaurants located in prime positions in Cape Town, Johannesburg and Pretoria, offering a Dinner Theatre experience with interactive performances, comedic banter and musical numbers. They have a strong brand and attract tourists and locals for a fun evening out.

How long has the business been established?
The business was established by two brothers in 2009.

How long has the owner had the business?
Since inception.

How does the business operate on a daily basis?
Open nightly Tuesday to Saturday. Process online bookings and enquiries, order and receive stock, prep food and do banking, bookkeeping, etc.

How are the clients attracted to the business?
Patrons are attracted through their website, social media advertising, word of mouth, magazine articles, 'What's on in Cape Town' and 'What to do in Cape Town' websites, etc. They have an eye catching street front and are well located in a trendy area known for its vibrant night life.

What Advertising/Marketing is carried out?
Advertising / Marketing is mainly carried out through social media and on their website

What competition exists?
They offer a unique Dinner Theatre experience and has no competition.

What are the seasonal trends?
The business is generally quieter during winter months.

Is the business VAT Registered?
The business is VAT registered.

What VAT documentation is on file?
VAT returns are up-to-date and on file. VAT clearance certificates will be obtained during Due Diligence.

Are there up-to-date Management Accounts available?
Up-to-date Management Accounts are on file and available on request. PLEASE NOTE: Management Accounts for each of the three Restaurants are on file and available on request. There are three Restaurants and the combined financial totals are indicated in this report.

What Balance Sheet and Income Statements are available?
FYE Februarie 2019.

What percentage of the business is cash/credit?
100% cash

What is the age analysis of the debtors book?

How could the profitability of the business be improved?
Turnover can be increased by extending trading hours to include lunch and/or cocktail hours. Stock and staff are well managed for optimum performance.

What is the total staff complement?
Each of the three Restaurants has approximately 20 employees: 1 X General Manager 1 X Kitchen Manager 8 X Kitchen staff 10 x Casual staff

Do any receive special perks or incentives?

Are they on contract?
All staff are on contract

Do any have management potential?
Other than the General Managers and Kitchen Managers, there are no other staff capable of managing roles in the business.

How involved is the Owner in running the business?
The owners are 100% involved in the day-to-day running of the business.

When does the current lease end?
Cape Town - September 2019, but the Landlord wishes to renew the Lease Agreement. Johannesburg - February 2021 Pretoria - February 2023

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

What is the annual escalation %?

What are the trading hours?
Monday - Saturday 19h00 - 00h00

What is the square meters of the business?
• CPT 180 sqm • JNB 297 sqm • PTA 200 sqm

Who is the Owner/Landlord?
Growthpoint Properties (CPT) Quadrant Property Management (JNB) Atterbury Property Group (PTA)

Is a copy of the lease available?
Copies of the leases will be made available during Due Diligence.

Do you require a licence?
All three branches hold valid liquor licences

What lease deposit and/or other surety is required?
Deposits: CPT - 3 months' rent JNB - 1 month's rent PTA - 2 months' rent

What are the main assets of the business?
The liquor licenses for all three outlets Kitchen equipment, furnishings, fridges, stage lighting

What is their overall condition?
All assets are in good working order.

How have they been valued ?
Depreciated values.

Which assets are on lease/HP and with whom?
All assets are the unencumbered property of the sellers.

• Unique concept • No competitors • Excellent cash flow • Profitable • Excellent locations for all three stores • Loyal employees

Limited casual dining due to celebratory nature.

• Extended hours to include lunch and cocktail trade • Sign up for Uber eats – the new trend

It would be a threat if a similar concept is imitated.

What is the reason for the sale?
Current owners have lived the lifestyle for the past 10 years and wish to focus on other projects.

Why is this a good business?
The business has a strong brand and is very popular for with locals for celebratory parties and as a tourist destination. All three restaurants are in prime locations and they enjoy a captive market. Their huge database is also an asset. Well trained and loyal staff.

What is the price plus stock and the net profit?
Asking price R3,750,000 PLUS stock +- R150,000 Net profit FYE 2019 +- R1.1m

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