Fully describe the business's activities?
Neat newly renovated Wimpy located in Pretoria CBD. Ample seating and no smoking area. The restaurant does deliveries as well and this can be marketed more to increase sales. This Wimpy is based in a well know land mark site. A very high feet traffic contribute to the good turn over generated. Revamp was done 2 years ago
How long has the business been established?
This Wimpy was established in 1993 and has been 26 years in the same site
How long has the owner had the business?
THE current owner bought this Wimpy in 2007
How does the business operate on a daily basis?
The restaurant is open during office hours with a manager in place to open or close when needed. It can currently seat about 100 people. The staff is very well trained as per the Franchisor's requirements.
How are the clients attracted to the business?
Wimpy is a national brand and well known in this area. The revamp has increased the visibility of the shop with new signage and a better look.
What Advertising/Marketing is carried out?
The head office handles most of the marketing through TV adverts, Newspaper ads, and radio.
Does the business have any contract work?
Not all are walk in clients, they do deliveries to buildings around the restaurant
What competition exists?
There are a number of take away businesses and restaurants in close proximity to the Wimpy, but the area does allow for so many as it is extremely busy.
What are the seasonal trends?
Sales show a constant increase. Public holidays show a trend of increased sales
Is the business VAT Registered?
What VAT documentation is on file?
Will be supplied on request
Are there up-to-date Management Accounts available?
A monthly management ending MARCH 2019
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
What is the age analysis of the debtors book?
None COD business
How could the profitability of the business be improved?
The liquor license has been approved and they have been selling liquor which increased turnover. The revamp will also increase turnover by 30% which will start happening now.
Is Seller finance available and for what amount?
What is the total staff complement?
21 staff members in total
Give a breakdown of staff/ functions/ length of service?
2 Manager 4 grillers 2 soft serve 4 kitchen staff 8 waiters
Do any receive special perks or incentives?
Are they on contract?
Do any have management potential?
The current manager does handle a lot of responsibility
How involved is the Owner in running the business?
The owner is involved daily with all aspects of the business.
When does the current lease end?
a New lease has recently been signed until 2021
Is there an option of renewal & what period?
There is an option to renew for another 5 years
What is the annual escalation %?
8% per year
What are the trading hours?
Monday to Friday 06h30 to 17h30 Saturday 03h30 to 18h00 Sundays 9hoo to 15h00
What is the square meters of the business?
+/-100 square meters
Is a copy of the lease available?
Yes,with the seller
Do you require a licence?
a Liquor licence is in place
What lease deposit and/or other surety is required?
One months rental deposit is required Joining fee of +/-R100 000.00
What are the main assets of the business?
stock and Catering equipment. The franchise has the new look.
Are any items not included in the sale?
Sold as lock stock and barrel
What is their overall condition?
Good working condition
Do any require repairing?
How have they been valued ?
Which assets are on lease/HP and with whom?
Are they presently insured?
This This is a famous brand in South Africa The business is extremely well known and well established is a famous brand in South Africa The business is extremely well known and well established
Low profits currently but this will increase because of the revamp
The liquor license will greatly increase turnovers There are new residential development happening close to the restaurant meaning you can increase you hours and therefore turnovers.
What is the reason for the sale?
THE SELLER HAS OTHER BUSINESS INTEREST THAT HE WANTS TO FOCUS ON..
Why is this a good business?
well established Branded Franchise.
What is the price plus stock and the profit?
Profit R 1 294 000.00 pj Stock R 70 000
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