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Popular Restaurant With Live Music In Durban For Sale

Durban, KwaZulu - Natal, South Africa
Asking Price:
R770,000 Furniture / Fixtures included
Sales Revenue:
R4,700,000
Cash Flow:
R336,460

The Price is R 770,000 plus stock of approximately R 40,000. The business generates average monthly Net Profits of R 28,000 pm or R336 460 pa.
One of two businesses, with the same name, offered for sale by the Owners. The business is an independent Café/Restaurant /Coffee Bar 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 with a loyal fan base that keeps coming back for more s well as a wood based Pizza Oven. Live entertainment is offered several times a week.
The Restaurant has both indoor and outdoor seating and caters for smokers.
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

Lease Terms:

200m2 until 2020 with option to extend

Location:

Good external facing position in a shopping centre in a Durban Suburb

Planning Consent:

Has a liquor licence

Business Operation

Reasons for selling:

The Hands on Owner has been in the business for a long time and desires a change.

Employees:
1 x General Manager 1 x Junior Manager 14 x Grillers/Waitrons/Callers.
Years established:
17 years

Other Information

Furniture / Fixtures value:
R928,000 - included in the asking price
Inventory / Stock value:
R40,000

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