Fully describe the business's activities?
How long has the business been established?
How long has the owner had the business?
How does the business operate on a daily basis?
Opens for business at 10,30 daily. Staff prepare food and await customers.
How are the clients attracted to the business?
Well known and respected franchise
What Advertising/Marketing is carried out?
National advertising and local advertising
Does the business have any contract work?
What competition exists?
What are the seasonal trends?
Summer months are busier
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
For due diligence
What percentage of the business is cash/credit?
75% cards, 25 % cash no credit.
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
More hands on operator
Is Seller finance available and for what amount?
What is the total staff complement?
Give a breakdown of staff/ functions/ length of service?
Most have been employed since inception
Do any receive special perks or incentives?
Waiters receive commission
Are they on contract?
Do any have management potential?
2 managers currently employed
How involved is the Owner in running the business?
Approximately 50% of time
When does the current lease end?
Is there an option of renewal & what period?
What is the annual escalation %?
What are the trading hours?
10.30 am to 10 pm
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
What are the main assets of the business?
Equipment, tables, chairs, signage, computer POS.
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
How have they been valued ?
Which assets are on lease/HP and with whom?
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Seller will settle
Are copies of agreements available?
Are they presently insured?
Good franchise with regular customers at restaurant
Nothing other than economy which is common to all businesses
Host school functions, create more business through further marketing and event hosting.
No immediate threats identified
What is the reason for the sale?
Owner has other business interests and cannot give enough time to everything.
Why is this a good business?
Easy to run, with franchise systems in place for all necessary controls. The franchise chain claims 60% market share of all sit-down seafood restaurants and was named "Best Seafood Resaurant" for 12 consecutive years.
What is the price plus stock and the profit?
Price is R2,990,000 plus stock estimated at R100,000 as a going concern (zero-rated for VAT) to VAT registered buyer. In addition to the selling price, there is a R100,000 joining fee payable to the Franchisor. Profit before tax for 12 months to September 2019 is approximately R1.097M
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