Fully describe the business's activities?
Popular franchise restaurant specialising predominantly in authentic seafood offerings. Recently revamped, this modern, family-friendly restaurant is perfectly situated in a busy shopping centre.
How long has the business been established?
This business has been operating successfully since 2013.
How long has the owner had the business?
How does the business operate on a daily basis?
The business is run entirely by the managers who are supported by a team of well trained, experienced and competent staff members.
How are the clients attracted to the business?
Part of a well-known franchise group, the restaurant is in a prime position with lots of passing trade.
What Advertising/Marketing is carried out?
Extensive marketing is carried out by the Franchisor nationally, via various platforms including TV, radio and social media.
What competition exists?
There are a number of other restaurants in the centre, however, none specialising in seafood.
What are the seasonal trends?
While the business generates good, consistent revenue throughout the year, March, April and December reflect above average turnovers.
Is the business VAT Registered?
Yes, the business is a registered VAT vendor.
What VAT documentation is on file?
All relevant documentation is on file.
Are there up-to-date Management Accounts available?
Management accounts in respect of the 10 months ended March 2019 to December 2019 are on file.
What Balance Sheet and Income Statements are available?
Balance sheets and income statements for previous years are available to serious buyers.
What percentage of the business is cash/credit?
Over-the-counter sales, the business does not provide any credit.
How could the profitability of the business be improved?
With an ardent owner-operator enforcing stringent control measures, the profitability of this business could improve significantly.
Is Seller finance available and for what amount?
No, the sellers will only consider an outright sale.
What is the total staff complement?
The business currently employs 24 staff members, of which 3 are managers.
Are they on contract?
Yes, all staff have valid contracts in place.
How involved is the Owner in running the business?
The owners are not involved in the day-to-day management of the business and oversee operations remotely.
When does the current lease end?
A new lease agreement will be negotiated with the landlord, and will run concurrently with the new franchise agreement.
What are the trading hours?
The business trades from 9am to 10pm, Monday to Sunday.
Do you require a licence?
Yes, a liquor license, which is already in place and is transferable.
What lease deposit and/or other surety is required?
To be negotiated with the landlord.
What are the main assets of the business?
A comprehensive list of the assets will be provided by the seller.
What is their overall condition?
The business has already been revamped and all the assets are in excellent condition.
Are they presently insured?
Yes, all assets are comprehensively insured.
Part of an exceptional, well established brand with an excellent reputation, this business is very well located in a popular centre. The business has been recently revamped and only minor upgrades are required. There are well-trained, experienced management and staff already in place. They offer a great menu at affordable prices in a family-friendly environment.
There is currently very little owner involvement.
An enthusiastic and dedicated owner operator could significantly reduce food and other costs.
General economic threats.
What is the reason for the sale?
The owners have other business interests and are unable to provide the store with the attention it requires.
Why is this a good business?
This is a great brand, with solid systems and well trained staff already in place.
What is the price plus stock and the profit?
Selling at R1 500 000 with a net profit of around R49 000 per month. This excludes stock and excludes the franchise joining fee of R100 000 plus VAT as well as the training fee.
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