Price Reduced Indian Cuisine Restaurant Bar For Sale

Business description

Unique opportunity to acquire a popular licenced restaurant located in the heart of a western suburb of Durban.This is a family sit-down and take-away restaurant specialising in Indian cuisine.

Although there are other restaurants in the area it has a niche market built on it's reputation for quality food and service.With greater involvement from an owner the turnover and profitability could be significantly increased. The owner is negotiable on the reduced selling price of R300 000; with net profits of R 154 700 pa.

Property information

Real Estate:

Lease

Lease terms:

73m2 with lease until 30 April 2014, which may be extended at an annual escalation of some 10% pa.

Leasehold rent:

R139,200 per annum

Location:

Western suburb of Durban, South Africa.

Premises details:

73m2 with lease until 30 April 2014, which may be extended at an annual escalation of some 10% pa; with present rent at R11 600pm.

Size in square feet:

73m2

Planning consent:

Has an operating liquor licence that is renewed each year and health certificate.

Business Operation

Expansion potential:

Innovative marketing and expanding the menu could increase patrons; while renovations and adding a deck to increase seating capacity could be pursued.

Competition / Market:

Other restaurants in the area but none specialising in Indian cuisine.

Reasons for selling:

Owner wants to focus on his IT business and his wife has gone back to teaching.

Trading hours:

10am to 10pm daily.

Employees:

4x permanent & 4x temporary. 3x permanent staff have more than 2 years service & temporary staff have 1,5 years service.

Years established:

3 years.

Other information

Support & training:

Owner would train new owner, but as owner is minimally involved, the experienced staff would be more importnat to the new owner.

Furniture / Fixtures value:

R88,390 (included in the asking price)

Inventory / Stock value:

R27,000 (included in the asking price)