Detailed financials available on request
Reputable business with excellent references in the market place. Awards for excellence and outstanding services. The food is superb and reckoned as the place to go to ensure a divine meal and having a good time. The restaurant is very well located in a prime high income area with good visibility, ample and secure parking. It has a very large area for a large number of guests, making it an ideal venue for a wide range of catering services and functions, over and above the casual dining experience. The owner and loyal, well-trained staff also provide for exclusive designs to make every event personal and special. The restaurant is beautifully decorated with a very neat and well-kept asset base to the value of +-R1,900m. The reason for the owner wanting to sell is only due to the fact that he must return home to assist his family with other business matters. Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation) amounts to R1,830 per annum or R170,000 pm. The ROI is an excellent 42% and a good payback of 29 months considering the high asset base. The price of R4,400,000 excludes VAT(if applicable) but includes stock to the value of +- R150,000. The business has a great reputation and is still growing. There is a real opportunity to expand the excellent and proven concept with more outlets. The business will suit an owner who wants to work in the business so to benefit first hand through the important interaction with repeat and often important diners, guests and overseas visitors. It also offers the benefit of a standalone restaurant with the freedom to operate independently.