Sectors / Category

Annual turnover

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  • Mandate: 33671
  • Added: 12 Nov 2019
  • AFS
  • 1122

Leading Cocktail Bar & Restaurant

Gauteng, Johannesburg
1122
Mandate 33671
Added 12 Nov 2019
R 7,340,000* ZAR
Stock: R 40,000
Assets: R 4,100,000
R 300,000 ZAR
Pieter Brink
Aldes Focus
Gauteng
Summary

The leading Cocktail Bar and Restaurant in an East Rand City with a super income stream and well setup internal systems and management controls. Optional Liquor Store and Centre included - See Report

Leading Cocktail Bar & Restaurant
SELLING PRICE AFS
R 7,340,000* ZAR
Stock: R40,000
Assets: R4,100,000
R 300,000 ZAR
Summary

The leading Cocktail Bar and Restaurant in an East Rand City with a super income stream and well setup internal systems and management controls. Optional Liquor Store and Centre included - See Report

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Fully describe the business's activities?
The business markets as a Cocktail Bar and Restaurant. The restaurant attracts a very good customer base and is very profitable on every day of the week. The business has a separate take away area which covers most of the overheads and enjoys a very good marginal profit from the restaurant area. OPTIONAL EXTRA 1: The owner owns a liquor store within the same centre which is further used to supply the restaurant. Should the restaurant be purchased the owner would include the liquor store for an additional R1,200,000.00. Netting R720,000.00 with all licences in place. OPTIONAL EXTRA 2: The owner furthermore owns the centre itself. The centre is for sale as well. He has received an offer for R21,000,000.00 but does not wish to sell it whilst owning the other 2 businesses. Netting R2,400,000.00

How long has the business been established?
4 years

How long has the owner had the business?
4 years

Give a breakdown between sit-down, takeaways and deliveries
Beverage sales at R650,000.00 pm Food +/- R300,000.00 pm Sushi R15,000.00 pm Takeaways R150,000.00 pm

How does the business operate on a daily basis?
As a restaurant with additional services of a takeaway shop, cocktail bar and entertainment.

How are the clients attracted to the business?
The business is very popular in the area as restaurant for the local residents.

What Advertising/Marketing is carried out?
The business has 50,000 "views" a week on its Facebook page and a following of 15,000. It further promotes daily specials at very good prices which reportedly attracts a great attendance as well.

Does the business have any contract work?
No

What competition exists?
The closest competition is located at 5km away.

What are the seasonal trends?
None. The business is very busy straight through the year.

Is the business VAT Registered?
Yes

What percentage of the business is cash/credit?
10%/90% cash / card

What is the age analysis of the debtors book?
N/A

How could the profitability of the business be improved?
The restaurant can run more marketing campaigns to attract even more customers.

Is Seller finance available and for what amount?
No

What is the total staff complement?
8 per shift

Give a breakdown of staff/ functions/ length of service?
5 bar men 3 Cleaners

Do any receive special perks or incentives?
Only receive tips. The staff have received very high amounts in tips as per the retrospective analyses.

Are they on contract?
Yes

Do any have management potential?
Even though the owner likes to be involved the staff are able to run the business without him

How involved is the Owner in running the business?
50%

When does the current lease end?
Owner is the landlord and would negotiate a tailored lease agreement in favour of the buyer.

Is there an option of renewal & what period?
Yes

What is the annual escalation %?
N/A

What are the trading hours?
10:00 - 00:00

What is the square meters of the business?
500+

Who is the Owner/Landlord?
The Owner

Is a copy of the lease available?
Yes

Do you require a licence?
All licences are in place for the purchase transaction.

What are the main assets of the business?
R3,000,000 in solid wood furniture R100,000 in appliances R1,000,000 general equipment

Are any items not included in the sale?
everything except the stock (stock amounts between R30,000 - R50,000)

What is their overall condition?
Good

Do any require repairing?
No

How have they been valued ?
Cost

Which assets are on lease/HP and with whom?
N/A

Are they presently insured?
Yes

Strengths?
Market Leader as well as serving to a good class of customers. The business is very busy each day of the week.

Weaknesses?
The current owner is a life time entrepreneur and makes it his duty to identify and eliminate any and all weaknesses in the business. The business has well established internal processes addressing various perspectives of the business. The owner has elected to stay on at the business for a couple of months (negotiable) to teach and explain to the new owner how he can continue to operate the same successful business.

Opportunities?
The business name has been registered as a trade mark for the purpose of franchise expansions.

Threats?
Located in one of the more esteemed areas of Benoni the business enjoys a very complimentary customer base. Together with the market influence it has the owner states that he has yet to determine any external threats.

What is the reason for the sale?
The owner has business operations in 3 different countries and is currently venturing into new establishments in the United Kingdom. The business was originally owned as a family business. The owner and his family have however used the income of the business for their international ventures and his sons have subsequently all immigrated already.

Why is this a good business?
The business is the market leader in its area with an exceptionally high income and good ROI with regard to the asking price. The business has well established internal systems with a very complimentary customer base.

What is the price plus stock and the profit?
R7,300,000.00

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FRANCHISE DETAILS

Aldes Focus

6 members
62 active mandates
Gauteng
Menlyn Corporate Park - 4th Floor, Suite H2 175 Corobay Avenue Waterkloof Glen Pretoria , Pretoria East , Gauteng
0081

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