Sectors / Category

Annual turnover

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  • Mandate: 33724
  • Added: 31 Aug 2020
  • AFS
  • 595

PRICE REDUCED!!Leading Greek restaurant

Gauteng, Pretoria
595
Mandate 33724
Added 31 Aug 2020
R 600,000* ZAR
Stock: R 0
Assets: R 531,037
R 58,584 ZAR
Peter Kind
(PRINCIPAL)
Aldes Platinum
Gauteng, Midrand
Gauteng, Midrand
Summary

Leading Greek restaurant owned by iconic Greek chef.

PRICE REDUCED!!Leading Greek restaurant
SELLING PRICE AFS
R 600,000* ZAR
Stock: R0
Assets: R531,037
R 58,584 ZAR
Summary

Leading Greek restaurant owned by iconic Greek chef.

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please supply us with your details below

Fully describe the business's activities?
Authentic Greek restaurant opened and run by iconic Greek chef. A manager runs the restaurant under the watchful eye of the owner.

How long has the business been established?
1 year

How long has the owner had the business?
Since inception.

Give a breakdown between sit-down, takeaways and deliveries
100% sit down at the moment but have just taken Uber eats on board for deliveries.

How does the business operate on a daily basis?
Staff start at 9am to prep the restaurant for the day, the restaurant opens for lunch at 11am. The evening shift comes in at 5pm till 10pm.

How are the clients attracted to the business?
Well known restaurant in great location. The owner is well known in the restaurant business.

What Advertising/Marketing is carried out?
Active social media campaign. TV coverage through the owners involvement in food shows.

What competition exists?
General restaurants in the area.

What are the seasonal trends?
Summer months are better for trade, while the restaurant trades well throughout the year.

Is the business VAT Registered?
Yes

What VAT documentation is on file?
Yes

Are there up-to-date Management Accounts available?
Yes, available to qualified buyers.

What Balance Sheet and Income Statements are available?
Yes.

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

How could the profitability of the business be improved?
The business is only a year old and paid its setup costs in the first 5 months of trade. Although trading well, its full potential is still to be realised. There is an outside area that has been under utilised with plans to open outside terrace with bar which will generate greater turnover.

Is Seller finance available and for what amount?
No.

What is the total staff complement?
12

Give a breakdown of staff/ functions/ length of service?
Manager run, with 3 experienced Greek chefs. There are 4 other experienced kitchen staff.

Do any have management potential?
Manager in place.

How involved is the Owner in running the business?
The owner will visit the restaurant 2 to 4 times a week. The owner has another restaurant which splits his time.

When does the current lease end?
2021

Is there an option of renewal & what period?
yes

What is the annual escalation %?
9%

What are the trading hours?
11am - 9pm Tues - Sat 11am - 3:30pm Sundays. Mondays closed.

What is the square meters of the business?
375sqm including outside terrace.

Who is the Owner/Landlord?
Rondomark

Is a copy of the lease available?
Yes

Do you require a licence?
Liqour licence.

What lease deposit and/or other surety is required?
Yes, 2 months rental.

What are the main assets of the business?
Full asset list available.

What is their overall condition?
Yes.

Do any require repairing?
No, all equipment is maintained.

Which assets are on lease/HP and with whom?
No.

Are they presently insured?
Fully insured.

Strengths?
Great location, with so much growth potential.

Weaknesses?
None perceived.

Opportunities?
Open on Mondays. Take-away trade. Open bar and terrace.

Threats?
Economy

What is the reason for the sale?
Owner has another restaurant and does not have the time to run both, but willing be involved on a consultancy basis.

Why is this a good business?
Very profitable with full potential still to be realised.

What is the price plus stock and the profit?
Sales price R1 210 000 excluding stock (R110 000)

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FRANCHISE DETAILS

Aldes Platinum

1 members
12 active mandates
Gauteng , Midrand
8 Baltoro Crescent Midstream Hill
Midrand
0157

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