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Annual turnover

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  • Mandate: 31492
  • Added: 30 May 2019
  • AFS
  • 385

REDUCED TO SELL - Established Franchised Seafood Restaurant

KwaZulu-Natal, North Coast
385
Mandate 31492
Added 30 May 2019
R 890,000* ZAR
Stock: R 80,000
Assets: R 1,200,000
R 67,261 ZAR
Werner Angell-Schau
(PRINCIPAL)
Aldes Zululand
KwaZulu-Natal
KwaZulu-Natal
Summary

Established Popular Seafood Franchise Business, well positioned in a busy upmarket shopping center. All systems in place, well trained staff and managers. Franchisor back up support and marketing to expose this leading seafood restaurant in the area. Well priced with good return for anyone to take opportunity to join this franchise.

REDUCED TO SELL - Established Franchised Seafood Restaurant
SELLING PRICE AFS
R 890,000* ZAR
Stock: R80,000
Assets: R1,200,000
R 67,261 ZAR
Summary

Established Popular Seafood Franchise Business, well positioned in a busy upmarket shopping center. All systems in place, well trained staff and managers. Franchisor back up support and marketing to expose this leading seafood restaurant in the area. Well priced with good return for anyone to take opportunity to join this franchise.

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Fully describe the business's activities?
Popular Seafood Franchised Restaurant

How long has the business been established?
Established 2009

How long has the owner had the business?
2012

How does the business operate on a daily basis?
Restaurant has managers in place to open and to close the business daily, stock control and customer care during the cause of the day. Owner oversees financial duties in the business

How are the clients attracted to the business?
Well known preferred seafood restaurant situated in a up market shopping mall. National advertising and marketing by the franchisor

What Advertising/Marketing is carried out?
The franchisor markets the brand by television and radio advertisements nationally as well as locally.

Does the business have any contract work?
None, however very well marketed by the local tourist industry, guest houses and hotels

What competition exists?
There are other restaurants in the mall, this attracts more people to the mall

What are the seasonal trends?
School holidays and December Holidays the business tend to peak, during the rest of the year business is pretty constant

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Up to Date and available to buyers during due diligent stages

Are there up-to-date Management Accounts available?
Yes

What Balance Sheet and Income Statements are available?
Up to Date

What percentage of the business is cash/credit?
30% Cash & 70 Electronic

What is the age analysis of the debtors book?
None

How could the profitability of the business be improved?
Better direct marketing to the local market, promote take away menu to the local businesses, outside functions catering

Is Seller finance available and for what amount?
Seller will consider a small percentage over a short term.

What is the payback period?
TBA

What is the ROI?
TBA

Who is the bookkeeper/Accountant?
Private

What is the total staff complement?
25 Staff & 1 Owner

Do any receive special perks or incentives?
Staff Meals and Tips

Are they on contract?
Yes

Do any have management potential?
Already in place

How involved is the Owner in running the business?
60 % of the time

When does the current lease end?
2018 December

Is there an option of renewal & what period?
Yes a further 3 years

What is the annual escalation %?
7%

What are the trading hours?
Monday to Monday 10:30am till close Closed on Christmas Day

What is the square meters of the business?
350 sqm

Who is the Owner/Landlord?
JHI

Is a copy of the lease available?
Yes

Do you require a licence?
Liquor License

What lease deposit and/or other surety is required?
3 Months Rent

What are the main assets of the business?
Kitchen Equipment, Furniture tables & chairs, Display fridges & Decor

Are any items not included in the sale?
All included as per assets list

What is their overall condition?
Excellent

Do any require repairing?
None all been maintained

How have they been valued ?
Accountant, depreciated values at current market related values.

Which assets are on lease/HP and with whom?
None

What are their settlement amounts?
NA

Will Seller settle or Buyer to take over?
NA

Are copies of agreements available?
Yes

Are they presently insured?
Yes full comprehensive insurance in place

Strengths?
Business is backed by a strong national brand with tested success through out the years, situated in a busy up market mall very well positioned and visible. All systems in place and staff are well trained serving the community with high quality value for money dinning experience. Business is well prized to get into the industry at a good market related value...

Weaknesses?
Restaurant is owner run

Opportunities?
Better direct marketing to the public, reaching out by promotions outside catering for business functions, Take away delivery service to the local business market

Threats?
No direct threats

What is the reason for the sale?
Current owner has been diagnosed with a health condition

Why is this a good business?
Restaurant offers a unique taste in the industry and is very well supported and well known... A new franchise cost in the tune of R 3 000 000.00 to set up getting inti the franchise at this prize is relatively low.

What is the price plus stock and the net profit?
TBA

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FRANCHISE DETAILS

Aldes Zululand

2 members
31 active mandates
KwaZulu-Natal
28 Bronze Street
3880

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