Fully describe the business's activities?
This is a well known, established franchise restaurant and take away which has operated successfully for 30 years. The store is strategically located in a busy shopping centre, seats around 115 patrons and is licensed.
How long has the owner had the business?
While it has relocated, this franchise outlet was established by the current owners 30 years ago.
How does the business operate on a daily basis?
The business is operated by the owners with the assistance of 3 well trained and experienced managers. Excellent systems and procedures are in place to ensure efficient operations.
How are the clients attracted to the business?
This is a well-known, popular, national brand and a household name. Perfectly located in a busy centre with lots of passing trade.
What Advertising/Marketing is carried out?
Extensive marketing is carried out by the Franchisor nationally via various platforms including TV, radio and social media.
What competition exists?
Normal competition within this industry.
What are the seasonal trends?
The store is busy all year round, however, turnovers tend to increase from October through to January.
Is the business VAT Registered?
Yes, the business is a VAT vendor.
Are there up-to-date Management Accounts available?
Management accounts are available to approved buyers.
What Balance Sheet and Income Statements are available?
The financial statements in respect of the year ended February 2019 are on file.
What percentage of the business is cash/credit?
The business does not provide credit at all.
How could the profitability of the business be improved?
There is an opportunity to introduce deliveries which could boost turnovers significantly. Reductions in certain expenses already initiated will contribute to the bottom line and will reflect in the next financial year.
Is Seller finance available and for what amount?
No. The sellers will only consider an outright sale.
What is the total staff complement?
The business employs 22 highly trained staff members, of which 3 are experienced managers.
Are they on contract?
There are valid contracts in place with all staff members.
How involved is the Owner in running the business?
The owners spend a few hours at the store each day.
When does the current lease end?
The current lease expires in November 2021.
What are the trading hours?
The business operates from 8am to 6pm on Monday to Friday, 8am to 5:30pm on Saturdays and 8am to 5pm on Sundays.
What are the main assets of the business?
The main assets include, catering, kitchen, and computer equipment. A full inventory of the assets is on file.
Established, successful brand. The store is very well located. Highly trained, competent and experienced staff have been with the business for many years.
None have been identified.
There is an opportunity to introduce deliveries which could boost turnovers significantly. Also, even though the business is licensed, the current owners do not promote the sale of liquor.
General economic threats.
What is the reason for the sale?
The owners are retiring.
Why is this a good business?
One of the top 5 franchise brands, this store is well located with a loyal client base. According to Famous Brands' recently published integrated annual report, despite economic pressures, franchising still remains a growing industry in South Africa, with most franchisees optimistic about their businesses.
What is the price plus stock and the profit?
Asking R3 150 000 excluding stock estimated at around R50 000. The business generates a net profit of almost R50 000 per month.
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