Mimmos Franchise In Northwestern Suburbs Of Johannesburg For Sale

Business description

This business opened in 1993, and the present owner has had the shop since 2006. Excellently located in this very upmarket area in the centre of where all the movies, restaurants, pubs and shops are located, in the North Western Suburbs of Johannesburg. Part of the leading Italian Family Restaurant Franchise in the country, they have no problem attracting customers of all ages, as their name and food is well advertised on radio and TV. The store needs a small revamp, the cost of which the seller is prepared to discuss with the buyer in order to negotiate a fair price, because the Franchisor will only allow a sale to take place, once the revamp has been agreed upon, and it will be expedited by the Franchisor as soon as possible.
The location of the store is brilliant and it attracts business people from all the surrounding office blocks in the area for lunches, as well as many locals living in the area. At night people of all ages come to eat before or after movies, or simply spend an evening in the store for dinner, or book their functions and birthdays, celebrated instore throughout the year. The Franchise has a name for producing good Italian food at reasonable prices, with good service and a friendly ambience in all their stores, and is a leader in this field of Italian cuisine.
Once this store has been revamped, there will be no stopping a new owner/operator with fresh energy, taking the business to new heights.

Property information

Premises details:

Well located with lots of passing trade, lots of parking and within easy reach of the Gautrain Station.

Business Operation

Expansion potential:

Being in the centre of a very upmarket entertainment and shopping area, there is unlimited growth potential.

Competition / Market:

There are plenty of restaurants in the area, but it is in the centre of all the entartainment from movies, to clubs to late night entertainment for the younger set.

Reasons for selling:

The owner wishes to get involved in a business that is closed at night.

Trading hours:

11am to 10pm, 7 days a week.

Other information

Support & training:

All support and training will be supplied by the Franchisor. The Franchisor has to approve the purchaser and a Franchise Agreement must be signed before a sale can take place. There is a once off Joining Fee of R120k plus Vat, over and above the Selling Price, which must be paid to the Franchisor.

Furniture / Fixtures value:

R1,500,000 (included in the asking price)

Inventory / Stock value:

R80,000