Fantastic Mediterranean Franchise Restaurant, Randburg For Sale

Business description

This is a one of the best known Mediterranean franchise restaurant groups in South Africa. They sell a wide variety of dishes from Italian pizzas and pastas, Greek Cuisine, steaks, burgers, chicken, sandwiches and various other a la carte specials. The restaurant is 5 years old, and the present owner has had it for the past 4 years. The customer base is mainly the A income group, consisting of business people and locals, including lots of families. The shop is very well designed with convenient features such as a lovely bar and waiting area, with a large inside section as well as an attractive patio dining area. Most convenient are the two private function rooms, which enables the store to have 1 or even 2 functions at the same time, without disturbing their regular diners. Although functions are booked throughout the year by clients who know about the shop by experience or word of mouth, with a bit of advertising and promotion, the function business could be doubled over night. Having said this, over the Christmas and New Year season, the store does over R1m turnover for the month. The shop is able to seat 380 guests comfortably and is run by two full time managers plus the owner or his wife working about 6 hours a day. They do not do any advertising or promotion, other than that done by head office. The present owner is over 70 years of age and wishes to retire. A young energetic operator who promotes the store and the function areas, should be able to increase the existing average net of R150k per month, after Vat, very easily.

Property information

Real Estate:

Lease

Location:

Located in a major shopping centre in the Randburg area.

Other information

Competition / Market:

The shopping centre has a lot of restaurants, but being a major centre, there is a huge amount of feet moving through the centre 18 hours a day.

Support & training:

All support and training will come from the franchisor. A once off joining fee, over and above the purchase price, of R100k plus Vat is required by the franchisor.

Reasons for selling:

The owner is now 70 years old and wishes to retire.

Trading hours:

Mon. - Thurs 10am - 10-30pm. Fri. & Sat. 10am - 11pm. Sunday 10am - 9-30pm.

Furniture / Fixtures value:

R3,000,000 (included in the asking price)

Inventory / Stock value:

R130,000