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?
Due to popular demand the owners opened the 3rd store in May 2019. This store has been profitable from day one.
How long has the owner had the business?
The owners started the concept and opened the 1st store in 2015, then the 2nd store in September 2016.
Give a breakdown between sit-down, takeaways and deliveries
55% sit down 45% takeaways
How does the business operate on a daily basis?
Diners book or walk in for their favorite meal. Other clients walk in to order takeaways or order online with Mr Delivery or Uber Foods.
How are the clients attracted to the business?
Beautiful setting in an upmarket and growing shopping center. The concept is so popular that the owners decided to open this 3rd store. The brand 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 on request.
What competition exists?
There are other restaurants in the centre, non offering Indian cuisine.
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 of the 3 stores is VAT registered.
What VAT documentation is on file?
VAT documentation for the group of 3 stores will be made available to serious buyers during due diligence.
Are there up-to-date Management Accounts available?
Management accounts from inception in May 2019 to September 2019 are 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?
4% cash 56% card 40% EFT
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Franchise the concept. Open a central kitchen which could have a saving of R24,000 per store per month. This will be discussed with serious buyers.
Is Seller finance available and for what amount?
What is the total staff complement?
The total staff compliment of 7 consist of: 2 managers 1 chef 1 assistant chef 3 kitchen staff
Give a breakdown of staff/ functions/ length of service?
A staff list is on file.
Do any have management potential?
The 2 managers are fully trained and are running the operation.
How involved is the Owner in running the business?
The owner is ordering stock and oversee the financial matters.
When does the current lease end?
30th April 2024.
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 per the hours prescribed by the centre.
Who is the Owner/Landlord?
The landlord details will be discussed with a serious buyer.
Is a copy of the lease available?
A copy of the lease will be made available during due diligence.
Do you require a licence?
The store has a liquor licence.
What lease deposit and/or other surety is required?
The landlord requires a lease deposit of R120,000.
What are the main assets of the business?
Tables and 42 chairs, kitchen equipment, CCTV, POS system and signage.
Are any items not included in the sale?
All assets as reflected on the asset register are included in the sale.
What is their overall condition?
The assets are brand new.
Do any require repairing?
As the assets are new, very little repairing are for seen in the close future.
How have they been valued ?
The assets are valued at replacement value. The start up costs for this store was R1,5 m
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
N/A. 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. A large invweter system is installed which can ran most of the important aspect of the business for up to 8 hours.
No real weaknesses are noted.
Franchise opportunity. Central kitchen which will reduce cost by R24,000 per month per store. This will be discussed with a potential buyer.
No real threats are identified, other than 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.
What is the price plus stock and the profit?
This store, according to the seller, will be the strongest performing store in the group within the next year. Th start up costs were R1,5m. The group of 3 stores are up for sale with franchise opportunity.
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