AN EXCELLENT LIFESTYLE RESTAURANT SET ON THE BANKS OF AN ESTUARY IN EASTERN CAPE COASTAL TOWN

Popular For Sale

Price R 1,600,000.00

Description

 

Background

 

Lifestyle , Manager Run, Restaurant offers 120 seating (50 under roof) , a beach kiosk  and a boat that provides sundown cruises for restaurant customers. Permanent staff = 8 out of season. Casuals +8 in season. A manager runs the restaurant.

 

The owners snapped up the restaurant when it came on the market and have owned it for one year, it was previously in operation for many years prior to that.

 

 

 

Dining options overview

 

Drinks, Lunch, Brunch, Dinner, Free Wi-Fi, Full Bar, Highchairs Available, Outdoor Seating, Parking Available, Reservations, Seating, Serves Alcohol, Waitstaff, Wheelchair Accessible, Wine and Beer.

 

 

 

Added value and money spinners:

 

Children's playground; water park slide; helicopter flips,; boat evening cruises,  Children's culinary classes: Guppy club, Junior chef and skills course; EC Water Swim Training and Competing (Big), Beach Kiosk.

 

Business model

 

Their business model is built around a passion for food that inspires a range of creative culinary experiences for customers while providing a wonderful lifestyle. If food is your passion this business is for you.

 

 

 

Culinary school

 

The school is an accredited Chef School . The trainee chefs are used in the restaurant, which lowers overheads. There are currently 8x students in the academy undergoing a 12 month diploma program. The school has been in operation for more than 6 years. The school is management run.

 

Appeal

 

1.Managed restaurant with well trained and motivated staff.

 

2.Many value added benefits to customers included.

 

3.Best location with attractive setting on the banks of an estuary.

 

4.Exceptional menu and eating experience ensures on going returns.

 

5.Competitively priced menu with coffee and liquor bar

 

6.Caters for and size functions and water sports.

 

 

 

Financials EC Restaurant

 

The GAAP Accounting System employed. (Includes a detailed analysis of  business financial parameters including client demographics.)

 

 

 

Sales revenue 2015-16 = R4.2m

 

Sales revenue 2016-17 = R4.3m

 

Sales revenue 2017-18 = R4.7m

 

Sellers discretionary earnings =R 668 000 per annum i.e.  (R56 000/month)

 

 

 

Note 1:

 

Director 1 income Cash flow = R470 000

 

Vehicle & fuel= R48 000

 

Director 2 income + travel  & fuel=  R150 000

 

 

 

Note 2:

 

1.The vehicle being payed off monthly is a Mahindra Scorpio 8 seater. R3000 p/m

 

2.Our Rent excluding L&W is R8600 p/m including L&W over Dec it was R17 000 Our busiest month.

 

3.Financials as of year end Feb 2018 are available. They have only operated the restaurant for one year.

 

4.Stock included in selling price = R120 000 

 

5.Asset register value R 826106 excl. Mahindra Scorpio

 

More details

Name Description
Total Annual Sales 4600000
Stock 120000
Assets 826000
ROI 42
Profit before tax 668000
Form of ownership Private Company
Year established 2010
Year of acquisition 2017
Trading Hours See Below
Full Time Employees 6-10
Contact Employees 6-10
Percentage online 100%
Business Premises Retail space
Rental Amount 7719
Current Floor Space 500m2
Lease term in years 5
Other important details VAT Registered,Financials up to date,Employee contracts,Website,Internet connection,Telephone lines,Liquor license,Parking lot,All assets on file,Security,In retail area,Training / Support,Marketing skills
Reason for sale Two owners are involved in the business and as the business has expanded they have acquired another restaurant in Plettenberg Bay. The owner in the Eastern Cape has now expressed the desire to move to Canada and will be leaving the business shortly. Running two restaurants so far apart is too onerous for one person, especially when family lifestyle is part of their business model and therefore the decision to sell the eastern cape restaurant and culinary school individually or collectively was made.
Growth opportunities Tourism is growing in SA at a rate of around 12%. More effective marketing towards tour operators will grow their business.
Seller Type Broker
Broker Fee No
Investment Ready Level Level 3

Ad details

Ad ID : 174
Eastern Cape Coastal Town,Port Elizabeth, South Africa
1 year, 2 months ago
1570 Views

Advertiser details

Ken.Maade (3)
065 887 6353
Ken@africabrokers.com
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