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Annual turnover

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  • Mandate: 34962
  • Added: 25 Oct 2021
  • AFS
  • 997

Restaurant with Bar in Suburban Area

Gauteng, Other
997
Mandate 34962
Added 25 Oct 2021
R 806,250* ZAR
Stock: R 0
Assets: R 609,794
R 35,414 ZAR
Frans Joubert
(PRINCIPAL)
Aldes Potchefstroom
North West, Potchefstroom
North West, Potchefstroom
Summary

Family styled Italian Restaurant with Liquor License

Restaurant with Bar in Suburban Area
SELLING PRICE AFS
R 806,250* ZAR
Stock: R0
Assets: R609,794
R 35,414 ZAR
Summary

Family styled Italian Restaurant with Liquor License

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Fully describe the business's activities?
Suburban Restaurant with Restaurant Liquor license, offering sit down, take away and delivery meals

How long has the owner had the business?
The current owner had the business since 2019

How does the business operate on a daily basis?
The restaurant operates from a visible corner. The area has a few places that serves as a type of a community get-together area with coffee shops etc. The restaurant offers sit down meals, as well as take away and deliveries. The ambience of the restaurant is family and relaxed atmosphere. Alcohol is served from an in-house bar area. The theme is Italian based

How are the clients attracted to the business?
The restaurant is well known in the immediate suburb and has become part of the community, they also have a vibrant Facebook page that is regularly updated with specials. Their menus are always updated to stay in line with their market.

What competition exists?
There are a few restaurants in the area, yet each offers a different experience and character in the community

What are the seasonal trends?
The year is relatively stable, holiday seasons tend to have more activity.

How did the Covid-19 pandemic impact the business turnover / daily operations?
Due to the location of the business in the suburban area where its customer base is, the performance of the business remained relatively stable

Is the business VAT Registered?
Yes the business is VAT Registered

Are there up-to-date Management Accounts available?
Yes all financials are available

What percentage of the business is cash/credit?
The business is mainly cash/card

How could the profitability of the business be improved?
The bar area is currently only used to serve customers that sit down, it can easily be converted to a dedicated bar that serves the captive audience in the area, similarly the owner indicated that Sun International is interested in adding some gabling machines in the Bar area, which could attract more patrons to the restaurant and the bar.

What is the total staff complement?
Mostly casuals are used depending on demand. There is one permanent staff member in kitchen area and one assistant Manager

How involved is the Owner in running the business?
The owner is involved on a regular basis, this is a lifestyle type restaurant, allowing the owner freedom to have other activities outside of the restaurant.

When does the current lease end?
The lease runs until 2023 and is renewable

What are the trading hours?
The trading hours in general is from noon Monday to Saturday and closed on Sundays

Do you require a licence?
A restaurant liquor license is in place

What are the main assets of the business?
Restaurant Kitchen equipment, Pizza Oven, Tables, Chairs

Are any items not included in the sale?
Scooter for deliveries belongs to owner, plus a few personal items that will be shown

What is their overall condition?
All equipment is in good condition

Do any require repairing?
No

How have they been valued ?
Replacement value estimations

Strengths?
This business is in a great location in the community, with a dedicated customer following and consistent performance.

Opportunities?
The Bar area could be expanded. The adding of the Sun International machines could add a new dimension to the business.

What is the reason for the sale?
Owner wishes to focus attention on other businesses

Why is this a good business?
Consistent performance with upside of additional revenue increases.

What is the price plus stock and the profit?
The total price is at R806,250

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AGENCY DETAILS

Aldes Potchefstroom

1 members
40 mandates
North West , Potchefstroom
Mia Meent Unit 3 6 Fick Street Potchefstroom
Potchefstroom

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