Sectors / Category

Annual turnover

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  • Mandate: 33155
  • Added: 05 Jun 2019
  • AFS
  • 448

Themed Restaurant and Dinner Theatre experience - Hazelwood, Pretoria

Gauteng, Pretoria
448
Mandate 33155
Added 05 Jun 2019
R 1,150,000* ZAR
Stock: R 50,000
Assets: R 500,000
R 18,308 ZAR
Kutu Venter
(PRINCIPAL)
Aldes Alpha
Western Cape
Western Cape
Summary

Themed Restaurant and Dinner Theatre experience located prime location in Hazelwood, Pretoria. Well-known Brand and popular for special events parties.

Themed Restaurant and Dinner Theatre experience - Hazelwood, Pretoria
SELLING PRICE AFS
R 1,150,000* ZAR
Stock: R50,000
Assets: R500,000
R 18,308 ZAR
Summary

Themed Restaurant and Dinner Theatre experience located prime location in Hazelwood, Pretoria. Well-known Brand and popular for special events parties.

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Fully describe the business's activities?
The business is one of three unique concept / themed restaurants and is located in a prime spot in Hazelwood, Pretoria. Featuring 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, 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?
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, none of the staff is capable of a managing role in the business.

How involved is the Owner in running the business?
The owners live in Cape Town but visit frequently.

When does the current lease end?
The lease ends February 2023

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?
200 sqm

Who is the Owner/Landlord?
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?
They hold a valid liquor licence.

What lease deposit and/or other surety is required?
A deposit of 2 months' 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 in trendy Hazelwood

Weaknesses?
Limited casual dining due to celebratory nature.

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?
Although it is a relatively newly established business, it has established a strong Brand and is rapidly growing. The Restaurant is popular with locals for celebratory parties and as a tourist destination. They are located in a prime location and enjoy a captive market. Their huge database is also an asset. Well trained and loyal staff. Of special value: Assets are new and not yet depreciated Valid liquor license Located in trendy up-and-coming area

What is the price plus stock and the net profit?
Asking price R1,100,000 PLUS stock +- R50,000 Net profit FYE 2019 +- R18,000 p.m. It' is a young business and growing rapidly.

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FRANCHISE DETAILS

Aldes Alpha

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

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