Fully describe the business's activities?
The restaurant and take away offers the choice of both Durban style and North Indian curries at the same restaurant They also offer artisan milkshakes, craft beers, and hand-selected wine varietals. All of this is offered in a fresh, trendy and contemporary environment. The restaurants offer seating, take away menu and also receive orders through Mr. Delivery and Uber Foods. REFER TO MANDATE 33705, 33713 & 33715 for individual store information).
How long has the business been established?
The 1st store was opened in 2015, the 2nd store in September 2016 and the latest store opened in May 2019.
How long has the owner had the business?
The owner started the concept.
Give a breakdown between sit-down, takeaways and deliveries
Store 1 (65% sit down and 35% take aways) Store 2 ( 25% sit down and 75% take aways) Store 3 (55% sit down and 45% take aways)
How does the business operate on a daily basis?
The 3 stores are situated in prime positions. Diners walk-in or book a table to enjoy their favorite meal. Others buy takeaways by walking in and ordering at the counter or order through Mr. Delivery and Uber foods
How are the clients attracted to the business?
Located in popular malls and shopping centres ensure feet traffic. The brand is well known and popular.
What Advertising/Marketing is carried out?
The Brand has been using Social Media as a cost-effective way of reaching out to and communicating with potential customers and has over 10000 followers across the stores punching well above its weight.
Does the business have any contract work?
The stores do catering on request.
What competition exists?
There are other restaurants and takeaways, no Indian Restaurants close by.
What are the seasonal trends?
The chilly days, winter months and school holidays are busier.
Is the business VAT Registered?
The holding company is VAT registered.
What VAT documentation is on file?
VAT documentation will be made available on request and during due diligence.
Are there up-to-date Management Accounts available?
24 months management accounts for the period October 2017 to September 2019 are on file for 2 stores, the 3rd store opened in May 2019 where we have management accounts for the period May 2019 to September 2019 on file.
What percentage of the business is cash/credit?
Store 1: (10% cash, 60% card and 30% EFT) Store 2: (7% cash, 53% card and 40% EFT) Store 3: (4% cash, 56% card and 40% EFT)
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
Franchise the concept and open more stores. Open a central kitchen which will ensure savings up to R72,000 per month, This will be discussed with a potential buyer.
Is Seller finance available and for what amount?
No seller finance available, the seller will however look at reasonable offers.
What is the total staff complement?
The total staff compliment for the 3 stores is 23.
Give a breakdown of staff/ functions/ length of service?
Store 1: (1 chef, 1 assistant chef, 4 kitchen staff and 1 manager) Store 2: (1 chef, 1 assistant chef, 4 kitchen staff and 2 managers) Store 3: (1 chef, 1 assistant chef, 4 kitchen staff and 2 managers)
Do any receive special perks or incentives?
The seller will pay a bonus at his discretion when targets are exceeded.
Are they on contract?
The staff are on employment contracts.
Do any have management potential?
Each store has managers who are running the business.
How involved is the Owner in running the business?
The owner orders stock and see to the financial matters.
When does the current lease end?
Store 1: May 2022 Store 2: August 2022 Store 3: April 2024
Is there an option of renewal & what period?
5 year lease
What is the annual escalation %?
What are the trading hours?
Monday to Sunday
What is the square meters of the business?
Information will be made available to serious buyers.
Who is the Owner/Landlord?
To be disclosed to serious buyers.
Is a copy of the lease available?
To be provided during due diligence.
Do you require a licence?
All three stores have valid liquor licenses.
What lease deposit and/or other surety is required?
Store 1: R225,000 Store 2: R124,000 Store 3: R120,000
What are the main assets of the business?
Furniture and fittings, including tables and chairs, kitchen equipment, CCTV and POS.
Are any items not included in the sale?
All assets as seen on the assets lists are included.
What is their overall condition?
The assets are in good conditions.
Do any require repairing?
Repairs are done where needed.
How have they been valued ?
The owner valued the assets at cost value.
Which assets are on lease/HP and with whom?
The assets are unencumbered.
What are their settlement amounts?
Will Seller settle or Buyer to take over?
Are copies of agreements available?
Are they presently insured?
The business and its assets are comprehensively insured.
Stunning Indian Dining and Take Away Concept Store at prime location. It is nothing like you ever thought an Indian Restaurant could be. It is trendy, it is chic. Highly rated at all rating sites, huge social media follower base. Featured several times in newspapers and magazines. Solid profits, fully manager run and provides great return on investment. It is also an investment you will be proud of. This is a chance very seldom emerges. For a relatively small investment you can acquire a recognised Brand consisting 3 Restaurants which were designed to be the base of launching a franchise. Everything is meticulously designed and planned from the interiors through the menus, packaging etc. All systems, management teams, trained culinary team, recipes are in place. The 3 restaurants, all at prime locations already provide solid profits on their own. Taking it to the next level and launching the franchise might just become your retirement policy.
No weaknesses are noted.
Open up more stores and franchise. Saving of R72,000 per month with a central kitchen.
No real threats, other than general economic decline.
What is the reason for the sale?
The owners wishes to return to their home country for a short period to attend to family matters.
Why is this a good business?
Easy to run business with great opportunity to become your pension investment. The owners have decided to sell their 3 existing stores with the concept, the brand, know how, systems, fully trained chefs and 2 managers per store who run the individual operations completely. It is pretty ready to be launched as a franchise with fantastic potential.
What is the price plus stock and the profit?
R4,200,000, which includes the stock . Average net profit of R144,463 per month. This profit will increase as one of the store where opened in May 2019 and according to the owner, this new store will become the most profitable of the three stores.
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