Fully describe the business's activities?
The business is one of the most popular well know restaurants in the Mpumalanga Lowveld region of South Africa area with seating for approximately 280 patrons.
How long has the business been established?
The business has been established since 2014 and the current owner was the establisher of the business.
How does the business operate on a daily basis?
The business operates as a highly successful 280 seater well know restaurant with a Spicy Twist. Catering for functions and delighting the palates of the locals as well as encouraging support from patrons in neighboring towns. This encompassing attraction is due to the festive atmosphere ,unique food and delicious Pizzas from a wood burning oven. The menu offers a wide variety of freshly prepared spicy and interesting food choices and mouthwatering of Pizza options from a wood burning oven. The decor is rustic and refreshing, vibrant with friendly efficient service. The setting offers a compliment of indoor and outdoor seating areas affording the patrons the luxury of enjoying the sunny Lowveld climate whilst sipping the most delicious cocktails and G & Ts. The business operates under a CC which is an optional extra for consideration of purchase as are the 2 vehicles used in the business for functions. The stock is delivered and available from local suppliers, in addition the owner shops and sources some products for the business. The stock is not included in the purchase price. The businesses operations are managed though a software system which manages income expenditure and stock control. There is a monthly service fee for this program. The complex wherein the business is situated has security but the business has in addition to this its own security alarm system which is monitored by a professional local armed response security company for a monthly fee. There are audited financials available for perusal by a financially qualified buyer, however for the purposes of this report the current management accounts as supplied by the seller were utilized.
What is the total staff complement?
The business operates with 28 staff which are on contract. The owners are not active on a daily basis in the business. They do however attend to the overall management of the business and the employees as well as the businesses marketing and payments to suppliers. This can be a manager run operation there is a staff list on file offering information of the employees duties and remunerations. The seller will settle all outstanding salaries and leave pay that may be due and owing to the businesses employees during her ownership of the business.
When does the current lease end?
The business has the luxury of being in one of the most scenic popular outdoor shopping complexes in the Lovely Lowveld, embracing and utilizing this prime location to its fullest patrons are treated to views of the Lowveld sunsets from the deck and the gardens whilst sipping the most delicious cocktails and Gins. There is sufficient secure parking and scenic views surrounding its parameters. There is a copy of the lease on file for perusal. The lease expires in 2020 and the landlord would be open to renegotiate a lease renewal to a qualified buyer. There is an annual escalation of 10% earmarked for 2019 The business encourages feet to the complex as a destination The landlords will require 1 monthâs rental as a security holding despot and the first months rental will be payable upfront at the beginning of each and every consecutive month for the duration of the lease period. When required there is a copy of the lease on file for perusal by any serious financially qualified buyer.
What is the annual escalation %?
What are the trading hours?
The trading hours are Monday Sunday 10:30 to to 21:00 .
What are the main assets of the business?
There is a full asset list on file readily available for perusal by an interested and financially qualified buyer. The asset as listed on the asset inventory on file are all included in the purchase price and sale of the business. The assets are all in a good condition and are the unencumbered property of the seller. The main operational assets of the business are the necessary operational kitchen equipment, pizza oven, cookers fryers, mixer, kitchen utensils, serving counters, tables and chairs, safe, computer, computer software, office furniture, beverage fridges crockery and cutlery. The assets for the purposes of this report have been valued at a fair second hand replacement value.
The overview of the business.
The business has a unique refreshing menu with mouthwatering food choices which has been instrumental in creating a niche market for the business. There exists a continuously supportive well established client base. The excellent scenic location with security and sufficient parking is also beneficial and an added draw card. The staff complement is abled and skilled in the current operations which lends favorably to the business being manager run.
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Annual Turnover Amount between R 500 thousand and R 6 million