Fully describe the business's activities?
The restaurant and take away offers the choice of both Durban style and North Indian curries at the same restaurant They also offer artisan milkshakes, craft beers, and hand-selected wine varietals. All of this is offered in a fresh, trendy and contemporary environment. This restaurant offers 50 seats, take away menu and also receive orders through Mr. Delivery and Uber Foods.
How long has the business been established?
The business was established in May 2015.
How long has the owner had the business?
The owners started this store in 2015 and thereafter opened a 2nd store in September 2016 and recently a 3rd store in May 2019.
Give a breakdown between sit-down, takeaways and deliveries
65% sit down 35% takeaways
How does the business operate on a daily basis?
This restaurant is situated in a busy and popular shopping mall. Diners walk-in or book a table to enjoy their favorite meal. Others buy takeaways by walking in and ordering at the counter or order through Mr. Delivery and Uber foods
How are the clients attracted to the business?
The restaurant is situated in a busy and well located shopping mall. It has good signage and is well known
What Advertising/Marketing is carried out?
The Brand has been using Social Media as a cost-effective way of reaching out to and communicating with potential customers and has over 10000 followers across the stores punching well above its weight.
Does the business have any contract work?
The store does catering when requested.
What competition exists?
There are other restaurants in the mall, this is the only Indian restaurant.
What are the seasonal trends?
The business is busier during the chilly days of winter, school holidays and December.
Is the business VAT Registered?
The holding company owning the 3 stores is VAT registered.
What VAT documentation is on file?
VAT documentation are for the 3 stores and will be made available during due diligence.
Are there up-to-date Management Accounts available?
We have the management accounts for the past 24 months (October 2017 to September 2019) on file.
What Balance Sheet and Income Statements are available?
The holding company owns three restaurants and therefore balance sheet and income statements will not be of value here. We have a comprehensive asset list and management accounts on file. Sales figures are available from the POS system.
What percentage of the business is cash/credit?
10% cash 60% card 30% EFT
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Franchise the concept and open more stores. Open a central kitchen which will ensure savings up to R24,000 per month per store. This will be discussed with a potential buyer.
Is Seller finance available and for what amount?
What is the total staff complement?
The total staff compliment is 7, consisting of: 1 manager 1 chef 1 assistant chef 4 kitchen staff
Give a breakdown of staff/ functions/ length of service?
A staff list is on file.
Do any have management potential?
There is a manager in place who is running the business.
How involved is the Owner in running the business?
The owner is involved in ordering stock and to over see the financial matters of the group.
When does the current lease end?
The current lease expires on 31st May 2022.
Is there an option of renewal & what period?
An option to renew for a further 5 years.
What is the annual escalation %?
What are the trading hours?
The hours are as prescribed by the Mall.
Who is the Owner/Landlord?
This information will be shared with a serious buyer.
Is a copy of the lease available?
A copy of the lease will be made available during due diligene.
Do you require a licence?
The business has a liquor license.
What lease deposit and/or other surety is required?
The landlord requires a lease deposit of R225,000.
What are the main assets of the business?
Tables and 59 chairs, kitchen equipment, CCTV, POS system and fittings.
Are any items not included in the sale?
All assets as seen on the asset register are included in the sale.
What is their overall condition?
The assets are in good condition.
Do any require repairing?
The business will service and repair as required.
How have they been valued ?
The owner valued the assets at replacement value.
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
The assets are unencumbered.
Are copies of agreements available?
Are they presently insured?
The business and its assets are comprehensively insured.
Stunning Indian Dining and Take Away Concept Store at prime location. It is nothing like you ever thought an Indian Restaurant could be. It is trendy, it is chic. Highly rated at all rating sites, huge social media follower base. Featured several times in newspapers and magazines. Solid profits, fully manager run and provides great return on investment. It is also an investment you will be proud of. This is a chance very seldom emerges. For a relatively small investment you can acquire a recognised Brand consisting 3 Restaurants which were designed to be the base of launching a franchise. Everything is meticulously designed and planned from the interiors through the menus, packaging etc. All systems, management teams, trained culinary team, recipes are in place. The 3 restaurants, all at prime locations already provide solid profits on their own. Taking it to the next level and launching the franchise might just become your retirement policy. This one will not be on the market for long.
No weaknesses are noted, other than high rent in the mall.
Franchise opportunity. Central kitchen which will reduce cost by R24,000 per month per store. This will be discussed with a potential buyer.
General economic decline.
What is the reason for the sale?
The owners wishes to return to their home country for a short period to attend to family matters.
Why is this a good business?
The owners have decided to sell their 3 existing stores with the concept, the brand, know how, systems, fully trained chefs and 2 managers per store who run the individual operations completely. It is pretty ready to be launched as a franchise with fantastic potential. The Mall has a back up generator.
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Annual Turnover Amount between R 500 thousand and R 6 million