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Profitable Greek Restaurant In East Rand For Sale

East Rand, Gauteng, South Africa
Asking Price:
R2,900,000 Furniture / Fixtures included
Sales Revenue:
R10,020,000
Cash Flow:
R1,020,000

Established, busy, profitable Greek restaurant in JHB East - asking for R2.9 million.

- Franchised popular Greek-themed restaurant in an active shopping centre with well-known anchor tenants
- Trades from noon daily with early closing on Sundays
- Ample parking on both the upper and lower levels of the centre.
- Free and secure parking
- Equipment value: close to R2million
- Despite being solid enough, this business can be de-franchised and rebranded so as to meet area demographics and broader market demand
- Opportunity to add on LIVE music some nights of the week.
- Current Average Monthly Turnover +/- R850 000
- Basic rent in a re-negotiable lease is at R50 000 – (Only 6% of turnover…. when usually 10% is regarded as fair)
- Staff Wages +/- R60 000 per month.
- Current Average Monthly Net Profit +/ R85 000
- The profit above is after paying franchise royalties to the franchisor.
- If de-franchised…. the appropriate operator could therefore be netting closer to R150 000 monthly by retaining the franchise royalties
- Seating for 280 patrons mostly inside with limited seating outside
- Permanent Staff …. 10 x Kitchen, 1 x Barman and 10 x Waiters (waiters on commission)
- Seller with adult independent children is tired after almost 20 years in the industry and is considering emigration

Property Information

Real Estate:

Lease

Location:

Busy shopping centre

Business Operation

Reasons for selling:

Owner is emigrating.

Employees:
20
Years established:
5

Franchise Information

Franchise opportunity:

Franchise Resale

Other Information

Support & training:

Full handover by owner

Financing available:

No.

Furniture / Fixtures value:
R2,000,000 - included in the asking price