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An innovative company, with multiple revenue streams (including a franchise model) based on Nigerian cuisine is being marketed for sale.
The business initially started as a Nigerian cuisine takeaway, based in South East London but has quickly developed in several other directions and now includes:
• A takeaway 100% owned
• A franchise takeaway (25% owned). There are 4 further franchises in the pipeline
• Online mobile food app, using 3rd party delivery services
• An external catering business
• A pop up restaurant (from June 2019)
It will shortly also be releasing a range of Nigerian cuisine themed snack bars.
The main takeaway currently generates the majority of the company’s revenues but in addition, the franchise model includes a monthly charge of £500 per month plus 15% of gross revenues (a further £1500 - £2,000 per month revenue per franchise). The mobile app generates consistent turnover and the catering business and pop up shop is expected to also contribute substantially. In total the business has revenues of c £500,000 delivering consolidated profits in excess of £100,000 per annum.
The above are all serviced via a well equipped central kitchen that produces the required food for each distribution channel.
The brand has featured in a number of tv shows, including the BBC’s The One Show and Channel 4’s The Brunch Show, in addition to radio and printed publications.
The vendor’s focus is on managing the growth of the business, and he is not required day to day in any of the individua business units. The guide price for 100% shares of the business is £195,000 and the vendor will provide appropriate handover support.
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