Large Franchised Family Restaurant In Port Elizabeth For Sale

Business description

This strong, well run and profitable business is part of an iconic South African brand, which enjoys strong market shares and dynamic, driven management at Franchisor level.

The business has been trading for 6 years now, and boasts an excellent location in a strong shopping centre. The business has exceptional exposure, being located at a very busy intersection, and is positioned perfectly within the brand's target market.

Lease terms are particularly favourable, and the premises allows flexibility in respect of possible future expansion. The restaurant currently has approximately 260 seats.

The business has a stable, loyal customer base, with ample secure off street (shopping mall) parking.

The business is very well run, and enjoys a solid, well trained and stable workforce. The current owner is an experienced operator, who has good control over all aspects of this excellent business.

The business has good medium to long term growth prospects, with high levels of residential development being planned in the area.

The restaurant also has its own generator which is capable of supplying sufficient electricity to meet 100% of the business's demands in the event of a power outage. The estimated replacement cost of this generator is R200,000.

This is a walk in business which has a proven track record of strong profits and good resilience during the recent recession.

Property information

Real Estate:

Lease

Lease terms:

Very favourable lease terms

Leasehold rent:

R590,000 per annum

Location:

Exceptionally well located in a shopping mall within a densely populated residential area. The business has great exposure at a busy intersection.

Premises details:

Approximately 550 sq.metres, with expansion possibilities should this be required in the future. Plenty of secure parking right outside entrance - off street.

Business Operation

Expansion potential:

Tangible marketing opportunities which Franchisor wants implemented.

Competition / Market:

Limited competition close by

Reasons for selling:

Current owner neds to relocate to another city for personal reasons.

Trading hours:

11h00 to close, daily

Employees:

32 Permanent staff, including 4 (experienced) managers and 2 trainee managers

Years established:

6 Years established

Franchise terms

Franchise opportunity:

Yes

Franchise joining fee of R100,000. Franchisor training in Johannesburg prior to hand over, Franchisor approval etc.

Other information

Support & training:

Comprehensive and professional training offered by Franchisor.

Furniture / Fixtures value:

R2,000,000 (included in the asking price)

Inventory / Stock value:

R90,000