Sectors / Category

Annual turnover

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  • Mandate: 33349
  • Added: 03 Aug 2019
  • AFS
  • 1056

Restaurant, Cocktail Bar, Casino & Live Entertainment.

KwaZulu-Natal, North Coast
1056
Mandate 33349
Added 03 Aug 2019
R 3,250,000* ZAR
Stock: R 200,000
Assets: R 1,000,000
R 97,389 ZAR
Werner Angell-Schau
(PRINCIPAL)
Aldes Zululand
KwaZulu-Natal
KwaZulu-Natal
Summary

Business is situated in a prime spot with loads of parking. Offers great food and entertainment like no other in the area. Quality and service of the highest standard, offering classy cocktails and a Casino for further entertainment. Venue is very well known and well supported by the locals - good solid business generating healthy Nett profits for a great return on your investment.

Restaurant, Cocktail Bar, Casino & Live Entertainment.
SELLING PRICE AFS
R 3,250,000* ZAR
Stock: R200,000
Assets: R1,000,000
R 97,389 ZAR
Summary

Business is situated in a prime spot with loads of parking. Offers great food and entertainment like no other in the area. Quality and service of the highest standard, offering classy cocktails and a Casino for further entertainment. Venue is very well known and well supported by the locals - good solid business generating healthy Nett profits for a great return on your investment.

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please supply us with your details below

Fully describe the business's activities?
Restaurant, Cocktail Bar, Casino & Live Entertainment

How long has the business been established?
Since 2010

How long has the owner had the business?
Owner established business in 2010

How does the business operate on a daily basis?
Managers in place to open and close business daily, Owners manages the finances, orders and stock, oversees the everyday running of the business.

How are the clients attracted to the business?
Business is very well established and well known in the local community. Offered entertainment like no other venue in the area, service & quality of the highest standard.

What Advertising/Marketing is carried out?
Social media platforms.

What are the seasonal trends?
Busy during festive seasons and school holidays. Constant throughout the rest of the year.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Up to Date, available to any serious enquiries during due diligence stages.

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

What Balance Sheet and Income Statements are available?
Up to Date, available to any serious enquiries during due diligence stages.

What percentage of the business is cash/credit?
50% Cash 50% Electronic, debit or credit cards

How could the profitability of the business be improved?
Better marketing and promotional work, however business is running at a medium to high capacity.

What is the total staff complement?
25 Staff

Give a breakdown of staff/ functions/ length of service?
3 - Managers, 10 - Bar & Waiters, 5 - Kitchen, 6 - Casual

Are they on contract?
Yes in place.

Do any have management potential?
Management in place already.

How involved is the Owner in running the business?
80% of their time.

When does the current lease end?
September 2021

Is there an option of renewal & what period?
Yes renewal option available, 5 years

What is the annual escalation %?
8 %

What are the trading hours?
Sunday to Wednesday 11am - 11pm, Thurdays 11am - 2am, Fridays & Saturdays 11am - 4am

What is the square meters of the business?
450 sqm

Is a copy of the lease available?
Yes

Do you require a licence?
Liquor and Gaming Licence

What lease deposit and/or other surety is required?
2 Months Rentals plus +- R 20 000.00 electrical deposit.

What are the main assets of the business?
Kitchen equipment, Furniture, Stock & Staff

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

What is their overall condition?
All in good working condition.

Do any require repairing?
All well-kept and maintained.

How have they been valued ?
Current market related values.

Which assets are on lease/HP and with whom?
All paid for cash.

Are they presently insured?
Full comprehensive insurance in place.

Strengths?
Business is situated in a prime spot with loads of parking. Offers great food and entertainment like no other in the area. Quality and service of the highest standard, offering classy cocktails and a Casino for further entertainment. Venue is very well known and well supported by the locals - good solid business generating healthy Nett profits for a great return on your investment.

Weaknesses?
Hands on business, quite demanding however very rewarding.

What is the reason for the sale?
Owners been in the industry for some time, have other business interest they would like to explore.

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FRANCHISE DETAILS

Aldes Zululand

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

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