Seafood Restaurant Within Casino Complex South Johannesburg For Sale

Business description

This Non Franchise Seafood Restaurant is well located in a casino complex south of Johannesburg, well designed, and with a lovely comfortable and friendly ambience. They have recently added meat and chicken options onto their menu due to public demand, which are now proving to be very popular, as well as Greek Meze and vegetarian meals for the abundance of Asian customers in the area that eat only vegatarian food. The shop has been established for 11 1/2 years, and the present owners have had it for 1 1/2 years. The shops monthly turnovers are quite consistent month on month, and average out at R110k, after Vat. The restaurant is well known for good tasty food, and good service. Having said that, because the owner and his family are involved in shopping centres and supermarkets, the owner is finding it more and more dificult to spend enough time in the store. Nonetheless, he took it from a mediocre restaurant to a well run profitable business within a year. The new owner should be an experienced owner/operator, as all the ground work has been done over the past year and the food and service are already of a high standard. Remember that this shop has been established for over 11 years. The sky's the limit for a hands-on creative operator.

Property information

Location:

Casino Complex

Premises details:

The new owner will be given a new lease of not less than 3 years with an option.The rent is excellent as it is based on 11% of turnover!!

Business Operation

Expansion potential:

There is plenty of room for growth in the business, and their financial records are all up to date. Audited Financials will be made available to serious buyers.

Competition / Market:

There are of course many other restaurants in the complex, but there is an extremely high foot count passing through on a daily basis.

Reasons for selling:

The owner is involved in supermarkets and shopping centres, and can no longer afford to spend time in the business.

Trading hours:

Sunday - Thursday 11am - 10pm and Fridays and Saturdays 11am - 12am

Employees:

There are 13 permanent staff members and two managers, with 12 waiters.

Years established:

Established over 11 years

Other information

Support & training:

The owner will give training and handover support to the new owner.

Furniture / Fixtures value:

R1,200,000 (included in the asking price)

Inventory / Stock value:

R80,000