Summary
Date opened: December 2006

Position: Seaside Village Shopping Centre, Big Bay with immaculate views of Table Mountain and Robben Island

Seating capacity: 300 people

Area: 750 m2 with enclosed balcony

Current Lease: Expires 2014, option to renew next 5 years
Currently at R41 040 per month, R55 per m2

Annual Turnover: R 7.5m

Repayment 33 months, ROI 36%

Profit margin: 10% to 15%

Average profit per month: R75 000

Staff compliment: 60 staff, 6 managers, Not owner managed, All staff on contracts.

Asking Price: R2.5m

Very good location with low landlord rentals
Get in at substantially below the cost of opening a new franchise
Owner is willing to look at a limited financing.
Strong growth per annum of more than 20%
Big successful franchise

Franchise Details
Subject to franchisor approval
Signature of new franchise agreement
Training of up to 3 months
Joining fee of R200 000

Leasing Details
Terms of the Lease
Landlord Shoprite Checkers Properties
Current rental R41k per month, 8% escalation
Lease expires 2014
Option to renew for another 5 years

Staffing Details
60 staff, 5 managers, totally manager run

Asset Details
Fully equipped restaurant, All equipment in excellent working condition

Handover Details
The buyer needs to first undergo Head Office training which can take up to 3 months, The seller and the management will stay on as long as required

Reason for Selling
Other interests