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Annual turnover

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  • Mandate: 33713
  • Added: 20 Nov 2019
  • AFS
  • 207

. Stunning Indian Dining and Take Away Concept Store at prime location.

Gauteng, Johannesburg
207
Mandate 33713
Added 20 Nov 2019
R 1,700,000* ZAR
Stock: R 50,000
Assets: R 725,460
R 70,509 ZAR
Anna-Marie Bothe
Aldes Novare
Gauteng
Summary

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.

. Stunning Indian Dining and Take Away Concept Store at prime location.
SELLING PRICE AFS
R 1,700,000* ZAR
Stock: R50,000
Assets: R725,460
R 70,509 ZAR
Summary

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.

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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. 75% of the turnover consists of takeaways and 25% of sit-down meals.

How long has the business been established?
The seller opened the 1st of 3 restaurants in 2015 and due to popular demand and huge success opened this restaurant in September 2016.

How long has the owner had the business?
The owner started the business.

Give a breakdown between sit-down, takeaways and deliveries
50 seats Uber foods and Mr Delivery

How does the business operate on a daily basis?
This restaurant is surrounded by a cosmopolitan neighborhood. 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 centre. 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 restaurant do catering when requested to.

What competition exists?
There are many restaurants and takeaways close by, but no other 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 all three restaurants are VAT registered.

What VAT documentation is on file?
VAT documents will be made available during due diligence.

Are there up-to-date Management Accounts available?
We have the last 24 months management accounts for the period 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?
7% Cash 53% Card 40% EFT Mr Delivery and Uber Foods

What is the age analysis of the debtors book?
N/A

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.

What is the total staff complement?
The total staff complement is 8. 2 managers; 1 chef; 1 assistant chef; 4 kitchen staff waiters

Give a breakdown of staff/ functions/ length of service?
A staff list is on file.

Do any have management potential?
The staff are fully trained and this store has 2 managers.

How involved is the Owner in running the business?
The owner is overseeing the operations, orders stock and see to the financial aspects of the business.

When does the current lease end?
31st August 2022.

Is there an option of renewal & what period?
An option to renew for a further 5 years.

What is the annual escalation %?
The annual escalation is 8%.

Who is the Owner/Landlord?
This information will be made available to a serious buyer.

Is a copy of the lease available?
A copy of the lease will be made available to a buyer during due diligence.

Do you require a licence?
The business has a liquor license.

What lease deposit and/or other surety is required?
A lease deposit of R124,000 will be required by the landlord.

What are the main assets of the business?
Kitchen equipment, tables and 50 chairs, CCTV, POS system, signage and artwork.

Are any items not included in the sale?
All items as listed on the asset register are included in the sale.

What is their overall condition?
The assets are fairly new and in very good condition.

Do any require repairing?
Repairs are maintained.

How have they been valued ?
The owner valued the assets at replacement value.

Which assets are on lease/HP and with whom?
N/A

What are their settlement amounts?
N/A

Will Seller settle or Buyer to take over?
N/A The assets are unencumbered.

Are copies of agreements available?
N/A

Are they presently insured?
The business and its assets are comprehensively insured.

Strengths?
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. A large invweter system is installed which can ran most of the important aspect of the business for up to 8 hours.

Weaknesses?
No real weaknesses are noted.

Opportunities?
Franchise opportunity. Central kitchen which will reduce cost by R24,000 per month per store. This will be discussed with a potential buyer.

Threats?
General economic decline.

What is the reason for the sale?
The owners have to return to their home country for a while 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.

Other listings by Anna-Marie
FRANCHISE DETAILS

Aldes Novare

2 members
19 active mandates
Gauteng
91 Bellairs Manor, 120 Bellairs Drive
2162

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