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AN EXCELLENT LIFESTYLE RESTAURANT SET ON THE BANKS OF AN ESTUARY IN EASTERN CAPE COASTAL TOWN
Popular For SalePrice 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
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:
More details
| Name | Description |
|---|---|
| Financials | |
| Total Annual Sales | 4600000 |
| Stock | 120000 |
| Assets | 826000 |
| ROI | 42 |
| Profit before tax | 668000 |
| Business History | |
| Form of ownership | Private Company |
| Year established | 2010 |
| Year of acquisition | 2017 |
| Business Operations | |
| Trading Hours | See Below |
| Full Time Employees | 6-10 |
| Contact Employees | 6-10 |
| Percentage online | 100% |
| Business Premises | |
| Business Premises | Retail space |
| Rental Amount | 7719 |
| Current Floor Space | 500m2 |
| Lease term in years | 5 |
| Business Background | |
| 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 | |
| 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 | |
| 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 |
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