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Restaurant, Sports Bar, Nightclub and Conference Facility - Mauritius

PROFILE
Description:		This venue is a combined restaurant / sports bar / nightclub and was founded in 2009. Since then, the establishment has become a major point of interest of the west coast and has made its name throughout the years, becoming a place to be in the in Mauritian nightlife with a BIG nightclub achieving a record of 1800 at once!
Industry / Sector:		Entertainment - Bar and Nightclub

LOCATION
State / Province:		Mauritius
City / Town:		Tamarin - West Coast
Location / Area:		Business Area
Portability:		Zero Portability - This business can only operate from the area specified. There is no potential whatever for it to be relocated elsewhere.

PRICE
Asking Price:		R 14 500 000
Conditions:		The asking price is marginally negotiable - includes fixed assets valued at R2.575 mil and goodwill.

FINANCIAL & OPERATING INFORMATION
Turnover:		R 1 096 000 per month
Profit:		R 372 500 per month
Annual Return:		31 % per annum
No. of Staff:		10
Year Established:		2009
Legal Persona:		Private Company (Pty) Ltd
Other Information:		. THE FACILITIES . They offer a large parking area, an open air restaurant area with 150 seating capacity, live bands entertainment, a beer garden, 3 bars in total, a dance-floor, a karaoke area, giant video screens and TVs for sports, events broadcast and a conference room. . GENERAL INFORMATION . The nightclub has welcomed most of the well-known bands, singers and DJs of Mauritius and also gets international exposure with big name performances in the international music industry. Trades 4 days a week, hours depending on season and events. . STAFF COMPLEMENT & RETENTION CONSIDERATIONS . 2 Operations directors / 3 Chefs / 3 Waiters and Barmen / 1 Cleaner / 1 DJ. The permanent team participates in the success of the business. The team knows the clientele which stimulates clientele loyalty.The owner is away often and the business is managed in the absence of the directors by a trusted employee. Casual staff revolving team over the week-ends. . PREMISES . Lease Renewal Period: 5 years and one escalation is possible if approved by landlord. Current lease expires in 2028. . FINANCIAL INFORMATION . Detailed financials will be made available to approved buyers at a personal meeting with the seller and the seller claims that he can verify all trading. The financial information reflected above is based on turnover, gross profit, expenses and net profit figures provided by the seller. For the year ended 31 May 2023. The EBITDO (owner's profit) has been calculated and based on the seller's financial information. . POTENTIAL . The Government of Mauritius facilitates the economic development which entails that foreigners will have the opportunity to reside, invest & develop their own business. Tamarin is called to be tremendously developed in the next 3 years. (Corporate & individual Tax 15%). The business requires a HANDS-ON owner that can re-invent the business. Key success factors: 14 years' experience and reputation, quality service and safe environment. Loyal clientele- 70% local,15% expats (SA & French) and 15% tourists. Only 3 cost-centers to manage - bar, restaurant and discotheque. Social Media optimization: Facebook, Instagram, Website, Google and /Trip-Advisor. Enhanced corporate culture for team and clientele and always in ahead of competition. . REASON FOR SELLING . The owner wishes to retire. After 14 Years of operation, the main director and shareholder has reached retirement age. The other 2 shareholders are agreeable to this sale - an exclusive mandate is in place. . HANDOVER . The seller is prepared to assist the buyer for a negotiated training and hand-over period. . DISCLAIMER REGARDING INFORMATION . No representation or warranty, express or implied, is given as to the accuracy or completeness of the contents of this profile. The only representations and warranties that will be made are those that may eventually be included in a definitive agreement to the proposed sale of the vendor's interests in the business. Neither this profile nor any of the information contained in it shall form the basis of any contract for such sale, nor does it constitute an offer, invitation or inducement to purchase or acquire any shares in the business or any interest in it. . PROOF OF FUNDING REQUIREMENT . Interested parties MUST be able to demonstrate that they have access to the required funds to finance a cash transaction purchase. In terms of the broker's mandate, the seller will not entertain any discussions, or consent to provide any details or documentation; or accept any offer unless you first meet this criteria. The Potential Buyer will need to provide proof of these financial requirements in your initial enquiry. . CONFIDENTIALITY AGREEMENT . FULL DETAILS OR PROVIDING THE EVALUATION PACK, WILL ONLY BE PROVIDED BY THE APPOINTED BROKERS SUBJECT TO THE SIGNING A CONFIDENTIALITY AGREEMENT (NDA) AND COMPLETING THE BUYER'S PROFILE FORM - ALL SUBJECT TO THE APPROVAL BY THE SELLERS.

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Record ID: 2900

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