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Restaurant and Pub

 

PROFILE    
Description:    This restaurant and pub is a landmark in the Sunninghill area and enjoys return visits from a large client base. Being situated directly opposite a large office environment also contributes to the success of this business. It is in need of change both from a maintenance point of view and a new owner. Completely manager run for the past two years. Possibility of defranchising which will increase revenue.
Industry / Sector:    Restaurant and Bar
LOCATION    
State / Province:    Gauteng RSA
City / Town:    Sunninghill, Johannesburg
Location / Area:   
Portability:    Low Portability - Relocation is not possible. But there may be limited value in licences, patents, technology or access to clients and suppliers which would add value to a similar operation at another location taking over
PRICE    
Asking Price:    R 3 500 000
Conditions:    Excluding Stock
FINANCIAL & OPERATING INFORMATION    
Turnover:    R 700 000 per month
Profit:    R 100 000 per month
Annual Return:    34 % per annum
No. of Staff:    50
Year Established:    1990
Legal Persona:    - unknown or withheld -
Other Information:     
  PREMISES  
Lease due November 2018. New lease under negotiation for further period.

  STAFFING  
Bar and kitchen staff have been with the business since its inception in 1990. A very loyal and dedicated team who ensure that customers always receive the best service. Most customers request that a certain barmen or waiter serves them.

  NEW OWNER'S SKILLS and EXPERIENCE REQUIREMENT  
Restaurant experience will be an advantage.

  MARKET and CUSTOMERS  
Loyal customer base established over many years.This is also the home to the Chelsea Football and Western Province Rugby supporters clubs. The business is also involved in community based projects.

  OPPORTUNITY for GROWTH  
There are untapped opportunities that can benefit the restaurant and pub and can reach new demographics without alienating our existing customer base. Furthermore, no competitors service this niche market. The areas that we are looking at expanding are the following:

  • Catering to Business/Corporates by offering fully catered boardroom facilities.
  • Catering to Business Office parks by offering take-away meals and catering for office functions.
  • Offering a unique laid back Saturday live band theme.

  EXPANSION OF STORE  
- A larger outside wooden deck area
- Adding a sundowner cocktail deck upstairs.
- Defranchising will further enhance income.

  REVAMP  
As the restaurant is getting on in years any upgrade will be of benefit. Our aim is to create more space and keep the existing feel of the pub. Due to the increased turnover, it has also become necessary to facilitate changes in service bar structure and waiter's stations.

  LIFESTYLE ISSUES  
Trading hours: 11h00 until late

  REASON FOR SALE  
Due to the seller not being able to spend time at the restaurant and pub since acquiring another business, she would rather sell it to a hands on operator.

  NON-DISCLOSURE AGREEMENT  
A Non-disclosure document will have to be signed before and detailed information is made available.

  AVAILABILITY of AUDITED FINANCIALS  
Up to date management accounts available.


 

 

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Record ID: 2765
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