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Annual turnover

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  • Mandate: 34934
  • Added: 17 Sep 2021
  • AFS
  • 392

Restaurant trading Monday - Friday - Corporate Customers.

Gauteng, Johannesburg
392
Mandate 34934
Added 17 Sep 2021
R 2,075,000* ZAR
Stock: R 125,000
Assets: R 1,599,300
R 83,491 ZAR
Ferdi van Greunen
(PRINCIPAL)
Aldes Focus
Gauteng, Pretoria East
Gauteng, Pretoria East
Summary

This Cafe and restaurant have a great vibe in secure, clean, and tidy city surroundings. Serving breakfast, takeaways, from a full menu for the surrounding office and corporate employees. The Cafe has a window to the street and outside seating under umbrellas which provides a real cafe atmosphere.

Restaurant trading Monday - Friday - Corporate Customers.
SELLING PRICE AFS
R 2,075,000* ZAR
Stock: R125,000
Assets: R1,599,300
R 83,491 ZAR
Summary

This Cafe and restaurant have a great vibe in secure, clean, and tidy city surroundings. Serving breakfast, takeaways, from a full menu for the surrounding office and corporate employees. The Cafe has a window to the street and outside seating under umbrellas which provides a real cafe atmosphere.

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Fully describe the business's activities?
An absolute little gem, in the heart of a pedestrianised private area of Marshalltown. Trendy, upmarket, open-air Bistro & Cafe and full licensed Restaurant that serves sit-down breakfast, lunch, baked goods, coffee, and takeaways to nearby office employees and passerby's. Inside and outside seating area. A vibe of community, selling art as well as a street artist performing in the open area in front of the business.

How long has the business been established?
Since 2011.

How long has the owner had the business?
The current owner purchased the Business in 2014

Give a breakdown between sit-down, takeaways and deliveries
Delivery / Takeaway 30% Sit-down 70%

How does the business operate on a daily basis?
The business opens early for breakfast and the takeaway trade from a convenience window onto neatly laid out pedestrian walk. The business is exceptionally well located surrounded by offices occupied by The Department of Education, major listed companies ad other Governments institutions. Red Bus City Tour operates in the area with a bus stop in front of the restaurant. Customers are upscale Managers and PA's, Attorneys, Bank, and Government employees. Full menu serving salads, pasta, fish, trammezinis, wraps, various grills, breakfasts, etc. A normal coffee menu is provided from a Barista machine. The business has a full liquor license. The owners pride themselves both in the quality of its menu and the freshness of its food prepared daily.

How are the clients attracted to the business?
Excellent location, convenient for the surrounding offices and banks. It has a high convenience value for customers, especially at the Takeaway window where many pause for early morning coffee and snacks. Great reputation in the area and among office employees of surrounding buildings.

What Advertising/Marketing is carried out?
Take Away menus are included in all Take-Away purchases. Weekly specials are sent to customers via text and many orders are placed via phone calls and delivered to their office. A database of 1500 customers isutilised to send out specials. Mr. Delivery is also used for marketing.

Does the business have any contract work?
Catering to businesses in surrounding offices. Functions and parties on a regular basis. Mr. D is used for deliveries outside of nearby area.

What competition exists?
There is no other Restaurant within a 5km radius that offers this food selection.

What are the seasonal trends?
Catering for functions according to demand from the businesses and offices in the area. Business is closed on Saturdays and Sundays.

How did the Covid-19 pandemic impact the business turnover / daily operations?
The business was closed during April 2020 as were ALL other Restaurants in SA. Turnover is down from previous years due to office staff working from home. Covid turnover is very consistent and the turnover is currently recovering very well to pre-Covid numbers.

Are there up-to-date Management Accounts available?
Bookkeeper draws up annual financial statements as well as VAT-Returns. The business uses Micros as a POS system. Staff Payroll on Pastel system.

What Balance Sheet and Income Statements are available?
We have available the February 2021 Balance Sheet and Income Statement, our client also delivered proper records confirming the revenues for the catering and functions.

What percentage of the business is cash/credit?
All cash, there are no debtors.

How could the profitability of the business be improved?
More catering. Expanding the area of delivery.

Is Seller finance available and for what amount?
The seller is planning to immigrate and this is not an option.

What is the total staff complement?
8 Permanent staff on salary. - 1 x Head Chef - 2 x Salad Bar Cook - 1 x Senior Griller - 1 x Scullery - 2 x Barista / Cashier (1 also functions as baker) - 4 x Waiters There is a large outside seating area.

Do any receive special perks or incentives?
The Head Chef receives a monthly cash incentive.

Are they on contract?
Permanent staff on contract.

Do any have management potential?
All staff with long service to the business and very loyal. Owner did not identify anyone as a potential manager.

How involved is the Owner in running the business?
Owner sees himself as the face of the business and is 100% involved.

When does the current lease end?
With the advent of the Covid pandemic and the owner's plans to emigrate. The current lease expires in May 2022 and the Landlord is happy to issue a new lease.

Is there an option of renewal & what period?
The landlord is not a corporate and also occupies the same building. The seller is of opinion that a new lease agreement can be concluded.

What are the trading hours?
Monday to Friday 06:30 -15:30 They are not open Saturday or Sunday. The business caters to the corporate market/ office trade.

What is the square meters of the business?
Approx 220m2; plus outside area which is larger and rent-free. Separate storeroom and staffroom.

Do you require a licence?
Liquor license required.

What is the setup and security arrangements in Johannesburg CBD?
The building where the restaurant is located falls with a privatised security area. The area is guarded by security guards from strategically stationed guardhouses. Full surveillance of the area as well CCTV. On my visit to the business, I was impressed with how clean, tidy, and safe the area is and the overriding ambiance. Some street artists performing in the street in front of the business and lots of corporate customers as walk-ins.

What are the main assets of the business?
KITCHEN: Large Griller, cooking burner, counter-top fryers, industrial ice machine an various cutlery. SCULLERY Automated dishwasher, scullery workbench and dishwashing trays. OFFICE Wooden desk and chair, filling cabinet, printer, alarm system, CCTV Camera system and electronic equipment. RESTAURANT AREA 36 x Tables, 160 x chairs, 21 x Umbrellas, menu holders, menus and the like. Brasillia Coffee Machine. Crockery, cutlery and glass. Lots of forks, knifes, plates, water jugs, tea pots and the like. FURNITURE AND FITTINGS Neatly decorated seating area. Well designed takeaway/serving area. Topnotch bathrooms. All-and-all very neat and well-presented restaurant.

What is their overall condition?
Good, well maintained, and functional to the point.

Do any require repairing?
None identified. Some spare supplies in the storeroom if needed.

How have they been valued ?
Owners value.

Is a full asset list on file?
Yes

Strengths?
Excellent location in the heart of the Bank, mining, and administrative centre of the CBD. Reputation for quality and fresh food. Convenience to customers.

Weaknesses?
I could not identify any weakness in this business. Securing lease agreement going forward.

Opportunities?
Home deliveries. Longer trading hours. Expanding area of delivery. Selling art. Arranging more street artist and "pop-up" events

Threats?
Level 5 and hard lockdown restrictions.

What is the reason for the sale?
The owner and his family are relocating to the United Kingdom.

Why is this a good business?
Consistent revenue with 99% corporate clients. Trading only Monday - Friday. Location. Menu.

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AGENCY DETAILS

Aldes Focus

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

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