Fully describe the business's activities?
A sit down Greek restaurant run by a family of four. 65-70 seater Situated in a cozy restaurant hub in Pretoria East
How long has the business been established?
The business has been established for five years and relocated one year ago to their new premises
How does the business operate on a daily basis?
Father/son opens and closes daily. Son acts as manager Mother/daughter oversees the kitchen
What Advertising/Marketing is carried out?
The business is actively marketed on Facebook and also enjoyed a very favorable article in the Readers Choice.
What competition exists?
The business is situated among other restaurants but it is the only Greek restaurant in the area.
What are the seasonal trends?
The business enjoys mostly evening trade. December through to February is usually a bit slower.
Is the business VAT Registered?
Not yet, but have applied.
Are there up-to-date Management Accounts available?
Accountant provided us with management accounts ending January 2019.
How could the profitability of the business be improved?
By offering their unique products the business enjoys a high markup
Is Seller finance available and for what amount?
No. Cash offers only.
Give a breakdown of staff/ functions/ length of service?
Managed by Owner and son Oversees kitchen - Owner's wife and daughter. 2 x Bar 7 x Kitchen 3 x waiters during the week 5/6 x waiters over the weekend
Do any receive special perks or incentives?
Do any have management potential?
How involved is the Owner in running the business?
Owner is there daily for around four hours.
When does the current lease end?
One year left.
Is there an option of renewal & what period?
3 - 5 years option to renew
What is the annual escalation %?
What are the trading hours?
Monday to Saturday from 11:00 - 21:00 Sundays from 11:00 - 16:00
What is the square meters of the business?
100 sq/m plus bathroom facilities and storage.
Who is the Owner/Landlord?
Is a copy of the lease available?
A copy of the lease is available from the owner.
Do you require a licence?
What lease deposit and/or other surety is required?
Approximately R35 000
What are the main assets of the business?
What is their overall condition?
Everything is in a good and working condition
How have they been valued ?
Owner assisted us with the valuation
Are they presently insured?
Unique products used to provide good quality food and excellent service.
Restaurant hours No management in place but owner will assist the new owner with comprehensive training.
Deliveries can be done Functions hosted Expand the premises
None were identified
What is the reason for the sale?
Owner wants to retire and immigrate
Why is this a good business?
A well run operation with good systems in place that can easily be transferred to a new owner.
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Annual Turnover Amount between R 500 thousand and R 6 million