Sectors / Category

Annual turnover

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  • Mandate: 33152
  • Added: 03 Jun 2019
  • AFS
  • 342

Themed Restaurant and Dinner Theatre experience - Illovo, Johannesburg

Western Cape, Johannesburg
342
Mandate 33152
Added 03 Jun 2019
R 1,150,000* ZAR
Stock: R 50,000
Assets: R 500,000
R 25,765 ZAR
Kutu Venter
(PRINCIPAL)
Aldes Alpha
Western Cape
Western Cape
Summary

Themed Restaurant located in Illovo, Johannesburg offering a Dinner Theatre experience. Well-known Brand and popular for celebratory parties.

Themed Restaurant and Dinner Theatre experience -  Illovo, Johannesburg
SELLING PRICE AFS
R 1,150,000* ZAR
Stock: R50,000
Assets: R500,000
R 25,765 ZAR
Summary

Themed Restaurant located in Illovo, Johannesburg offering a Dinner Theatre experience. Well-known Brand and popular for celebratory parties.

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Fully describe the business's activities?
The business is located in a prime position in Illovo, Johannesburg and offers a Dinner Theatre experience with interactive performances, comedic banter and musical numbers. The business has a strong brand and is popular with tourists and locals for special events/parties.

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, 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.

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?
N/A

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?
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?
No

Are they on contract?
All staff are on contract

Do any have management potential?
Other than the General Manager and Kitchen Manager, no other staff member is capable of a managing role in the business.

How involved is the Owner in running the business?
The owners live in Cape Town. They travel to Johannesburg frequently but oversee management of the Restaurant remotely.

When does the current lease end?
February 2021

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

What is the annual escalation %?
8%

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

What is the square meters of the business?
+- 297 sqm

Who is the Owner/Landlord?
Quadrant Property Management (JNB)

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

Do you require a licence?
Yes, the business holds a valid liquor licence.

What lease deposit and/or other surety is required?
A deposit equal to one month's rent is required.

What are the main assets of the business?
The liquor license 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.

Strengths?
• Unique concept • No competitors • Excellent cash flow • Profitable • Excellent location • Well trained and loyal employees • Well-known/strong Brand

Weaknesses?
Limited casual dining due to celebratory nature of the business.

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

Threats?
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 R1,100,000 PLUS stock +- R50,000 Net profit FYE 2019 +- R309,000

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FRANCHISE DETAILS

Aldes Alpha

2 members
13 active mandates
Western Cape
Galleon Beach, Pelican Parade
7530

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