Fully describe the business's activities?
Sit down restaurant with high potential for takeaway business. Mainly focuses on fish dishes but includes other protein types as well.
How long has the business been established?
How long has the owner had the business?
Since March 2016
How does the business operate on a daily basis?
The business is located in a shopping mall in an affluent area of Pretoria. It operates daily from 11h00 to 22h00 except on Sundays and Mondays when it closes at 21h00.
How are the clients attracted to the business?
The restaurant is part of a nationally known and advertised restaurant chain. The restaurant is prominently located in a food court serving a busy shopping mall.
What Advertising/Marketing is carried out?
Besides national advertising campaigns across a variety of media, this store operates its own website and customised campaigns on social media.
Does the business have any contract work?
What competition exists?
There is one other restaurant in the food court, offering a different menu focus.
What are the seasonal trends?
Of the approximately 150 seats in the restaurant, around 50 are located outside. As a result capacity in summer is greater which may drive seasonality.
Is the business VAT Registered?
What VAT documentation is on file?
All VAT documentation is on file
Are there up-to-date Management Accounts available?
Up to date management accounts can be made available to an approved buyer
What Balance Sheet and Income Statements are available?
All financials are available
What percentage of the business is cash/credit?
All trasactions are either cash or credit card.
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Owner has installed security devices that may be redundant to new owner Owners cash management service provider can be replaced by a cheaper service Business parks in the neighbourhood represent a take away opportunity Links with schools can be forged generating additional revenue
Is Seller finance available and for what amount?
What is the total staff complement?
The total staff complement is 20
Give a breakdown of staff/ functions/ length of service?
1 x General manager 2 Managers, 1 front office and 1 back office 2 x sushi chefs 15 multiskilled employees who can wait tables, perform reception duties, certain cooking duties, cleaning
Do any receive special perks or incentives?
Are they on contract?
Managers and sushi chefs are employees, others on variable time contracts
Do any have management potential?
How involved is the Owner in running the business?
Owner is totally involved in running the business
When does the current lease end?
Is there an option of renewal & what period?
Yes, for 5 years
What is the annual escalation %?
Base rent has recently been increased to R69 000 per month Escalation is 8%
What are the trading hours?
Tuesday to Saturday 11h00 to 22h00, Sunday and Monday 11h00 to 21h00
What is the square meters of the business?
350 square metres inside 40 square metres outside seating 100 square metres childrens play area
Who is the Owner/Landlord?
Olympus Village (Pty) Ltd 102 Dorp Straat Stellenbosch 7600
Is a copy of the lease available?
Do you require a licence?
Yes - the following licenses are required Liquor license; Occupation certificate; fire clearance; plumbing certificate
What lease deposit and/or other surety is required?
R210 000 to landlord R100 000 franchise joining fee
What are the main assets of the business?
Asset register is available to approved buyers
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
How have they been valued ?
Over best estimate
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
Yes - broker is Marten Boersema 082 491 1994 firstname.lastname@example.org
Located in an affluent neighbourhood Neighbourhood expanding with new developments Experienced team operating the restaurant Excellent ratings received from customer reviews (in top 5 of all similar franchises)
Focused marketing not undertaken as owner too busy with operational issues on his stores
Woolworths store opening adjacent to restaurant will boost traffic flow High potential take away business in newly developed residential estates Business parks developing in neighbourhood which will boost lunch time take away revenue Links to neighbourhood schools not developed as yet Opening for breakfast may be an revenue generating opportunity
Possible disruption due to Woolworths store installation
What is the reason for the sale?
Owner owns four franchise restaurants, all at least 50kms from each other and finds the distances between the restaurants makes management and control difficult.
Why is this a good business?
Nationally known restaurant chain High potential location Strong operational team
What is the price plus stock and the net profit?
R2 000 000
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