Seafood Restaurant Located Casino South Of JHB For Sale

Business description

Located in one of the top Casinos south of Johannesburg, this well known brand of Seafood restaurant has been established at this venue for a good few years, and is well respected for its high quality of food and service. With a rental of only R34, 200 excl.Vat per month, this becomes a really attractive opportunity for an experienced operator. The business is open for lunch and dinner 7 days a week, and is conveniently located in this high foot traffic environment. Netting an average of R145k, after Vat, per month, this business is really worthwhile.
There are two full time managers employed at a cost of R22k per month, while the owner of the business also works full time in the shop. The casino operators have a requirement that who ever wishes to purchase the business has to fulfill the BEE requirement of a minimum of 25%. With the aforementioned net of R145k, the asking price of R3.6m is an excellent deal, enabling the purchaser to get his money back in two years. This is the opportunity of the year, it must not be missed!!

Property information

Location:

Well located in a leading Casino Venue in Johannesburg

Other information

Expansion potential:

There is plenty of room to grow the business for an experiencd hands-on operator. Although the business is well run, it is
still manager run, and it is never the same as an owner operated business.

Competition / Market:

There are plenty of other restaurants in the venue as it is a casino/entertainment venue, however there are no other seafood/fish restaurants in the building.

Reasons for selling:

The owner has two other restaurants on the opposite side of Johannesburg, and no longer has time to look after all three shops.

Trading hours:

7 days a week, lunch and dinner.

Furniture / Fixtures value:

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

Inventory / Stock value:

R100,000