Fully describe the business's activities?
This is a franchised fish and chips take away, perfectly located in a busy mall.
How long has the business been established?
The franchise group was established more than 10 years ago and this particular store has been operating since November 2019.
How long has the owner had the business?
The current owner bought the store in May 2021.
Give a breakdown between sit-down, takeaways and deliveries
While there is some seating, this business caters mainly for take-away patrons. They currently do not offer deliveries.
How does the business operate on a daily basis?
As the owner lives in another town, the business is run entirely by staff who open and close the shop as well as manage the daily operations.
How are the clients attracted to the business?
The store is strategically located in a busy shopping centre, with lots of passing trade. This is a well known, popular brand famous for its generous portions at affordable prices.
What Advertising/Marketing is carried out?
At this stage the owner does not carry out any additional marketing, however, the franchisor advertises nationally via their website and various social media platforms.
What competition exists?
There are several take away outlets in the centre.
Is the business VAT Registered?
The business is currently not VAT registered.
What percentage of the business is cash/credit?
The business does not provide credit at all.
How could the profitability of the business be improved?
The profitability of this business would improve significantly with more owner involvement as well as increased local marketing.
Is Seller finance available and for what amount?
The seller will only consider an outright sale.
What is the total staff complement?
The business employs 2 staff members who are both responsible for the day to day operations.
Are they on contract?
Yes, there are valid contracts in place.
How involved is the Owner in running the business?
The owner has other business interests and oversees the business remotely.
When does the current lease end?
The current lease expires in 2024.
What are the trading hours?
The business operates in accordance with the centre hours. They open at 9am and close at 6pm during the week. On Fridays they close at 7pm, Saturdays at 5pm and Sundays at 3pm
Do you require a licence?
No licenses are required, however, a new owner will need to be approved by the franchisor.
What are the main assets of the business?
Shop fittings, furniture, computer and kitchen equipment. A full list of the assets is available.
What is their overall condition?
All the assets are relatively new and are in good condition.
How have they been valued ?
The value of the assets has been provided at second hand value.
Which assets are on lease/HP and with whom?
All the assets are financially unencumbered.
Well established, popular brand. The store is strategically located in a busy centre with lots of passing trade. Simple, manageable menu at very affordable prices.
Very little owner involvement.
Increased local advertising and marketing will improve turnovers and the introduction of a delivery service could also contribute significantly to the bottom line.
General economic threats.
What is the reason for the sale?
The owner resides in another town and has other business interests. She is unable to provide the franchise with the attention it requires.
What is the price plus stock and the profit?
The asking price is R270 000 plus stock estimated at around R10 000. In addition, the buyer will also need to cover franchise joining fees of R86 000 including VAT. The business has been generating an average net profit of about R 10 000 per month.
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