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Licenced Restaurant With Popular Entertainment In Durban For Sale

Durban, KwaZulu - Natal, South Africa
Asking Price:
R2,487,000 Furniture / Fixtures included
Sales Revenue:
R9,646,000
Cash Flow:
R931,711

The price is R 2,487,000 plus stock of approximately R 87,000 with average Monthly Net Profits of R 77,500 pm or R 931,711 pa.
The second of two businesses offered for sale by the Owners. This particular Restaurant is more than just a Licenced Restaurant. The Restaurant is set in a popular Day and Night time venue, popular with both Locals and Tourists . Patrons are either accommodated indoors our outdoors with spectacular views and ambience. At this particular Restaurant , music is an essential ingredient and the Owners are active in the support of local musicians, and offer from mini rock shows to afternoon jazz and regular open mic evenings which offer budding local musicians a platform to strut their stuff.
The establishment is open seven days a week from 8.00 am till late, offering an extensive menu that caters for every taste including Breakfasts, Snacks, and a comprehensive Dinner Menu. It also boasts a colourful,
cocktail menu .
Management Accounts are available to Feb 2018. Updates will be provided to serious
buyers. For the purposes of this report the Management Accounts for the period Mar
2017 - Feb 2018 were utilised. The Accounts are Vat inclusive but the Vat
Input/Output difference and the Vat paid were included in the expenses.

Property Information

Real Estate:

Lease

Location:

The Restaurant is set in a popular Day and Night time venue, popular with both Locals and Tourists in Durban

Premises Details:

300 sq. m inside plus 120 sq. outside until 2020 extendable at 8%

Planning Consent:

Liquor licence in place

Business Operation

Reasons for selling:

The Hands on Owner has been in the business for a long time and desires a change. The non active Owner is involved in the Corporate world in Johannesburg.

Employees:
1 x General Manger 1 x Assistant General Manger 2 x Junior Managers. 1 x P.A. to the Owner. 22 x Barmen, Grillers, Waitrons, Callers.
Years established:
16 yrs

Other Information

Furniture / Fixtures value:
R1,397,000 - included in the asking price
Inventory / Stock value:
R87,000

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