Fully describe the business's activities?
They are known for their love of great steak, excellent taste in wines and a warm and welcoming atmosphere where customers become friends. This franchised restaurant is situated in a well known and busy shopping mall in Randburg. They are more focused on attracting sit-in customers.
How long has the business been established?
The restaurant opened door on 1 October 2017
How long has the owner had the business?
How does the business operate on a daily basis?
The business is mainly manager-run with the owner involved in the overall management of the business. They managers is responsible for all operational duties such as stock take, ordering etc. The business main trade is lunches and evenings
How are the clients attracted to the business?
Word of mouth due to good service and food. It is a well known brand
What Advertising/Marketing is carried out?
Franchise owners does marketing but they also advertise locally
Does the business have any contract work?
What competition exists?
There are many restaurants and fast food outlets in the mall
What are the seasonal trends?
February to September is slow November December are peak months
Is the business VAT Registered?
What VAT documentation is on file?
All VAT documentation will be available for the serious buyer
Are there up-to-date Management Accounts available?
WIll be available for a serious buyer
What percentage of the business is cash/credit?
90% credit card, 10% cash
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Additional marketing and deliveries.
Is Seller finance available and for what amount?
What is the total staff complement?
40 staff members
Give a breakdown of staff/ functions/ length of service?
A full breakdown will be available to a serious buyer
Are they on contract?
Yes all have employment contracts
Do any have management potential?
There are 3 managers in place
How involved is the Owner in running the business?
The owner is involved in on a daily basis in the business.
What are the trading hours?
11h00 untill 22h30
What is the square meters of the business?
Is a copy of the lease available?
Do you require a licence?
Liquor license and franchise agreement
What are the main assets of the business?
Kitchen equipment and furniture
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
How have they been valued ?
Are they presently insured?
Yes they are fully insured
Very strong brand They have a brilliant location in the mall Service and food is excellent with good reviews and return customers
Additional marketing and functions
Current economic environment in the country
What is the reason for the sale?
Due to personal reasons the owner needs to relocate.
Why is this a good business?
This restaurant is the most profitable within the particular brand. They constantly receive good reviews and return customers Restaurant is situated in a prime spot in the mall
What is the price plus stock and the net profit?
Purchase price is R 7 600 000 Excluding stock of R200 000. Monthly income average R230 000 per month.
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