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Top Profitable Italian Restaurant, Established 20yrs, Johannesburg North, For Sale

Johannesburg Northern suburbs., Gauteng, South Africa
Asking Price:
R3,000,000 Furniture / Fixtures included
Sales Revenue:
Available on request
Cash Flow:
Available on request

This attractively designed Italian Restaurant has been open for over 20 years, with the present Owners having had the business for the past 7 years. There is an an opportunity to purchase either 50% or 100% of the business, depending on what the prospective purchaser prefers, because there are 2 Owners and one has relocated to the Cape, which is obviously the reason for the opportunity to purchase only 50% of the business and continue working with the Johannesburg partner, or should the prospective purchaser prefer, the current owners will consider selling 100% of the business.
Their Menu includes their now famous Pizzas and Pastas, (including baked pastas), a good selection of Veal Dishes, tasty Chicken Dishes, and excellent Oxtail. The business has garnered a reputation for top quality food, as well as excellent service, coupled with a lovely friendly ambience. They have an upstairs area, and Pre-Covid did many Functions. Having said that, even during the Pandemic, the business has still been doing well, and is still profitable.
An excellent popular store that is still maintaining some growth and will start opening for Breakfast as well within the next month or so, which will add a whole new dimension to the store. The asking price for 50% of the business is R1.5m, (plus 50% of the Stock), or to buy the business outright the cost will be R3m, plus 100% of the stock.
A well organised and well run restaurant which is a golden opportunity for a seasoned operator to continue growing the business.

Property Information

Real Estate:

Lease

Location:

Well located in a local suburban shopping centre in the Northern suburbs of Johannesburg.

Premises Details:

A attractively designed double story Bistro with a small outside area as well as a lovely Bar area. They are able to do functions upstairs while running the rest of the restaurant as usual. They can seat up to 130 pax in one sitting.

Business Operation

Reasons for selling:

There are 2 owners of the business, and one has relocated to the Cape.

Trading hours:

They are open from 11am to 9pm/10pm, 7 days a week, however within the next month or so, they will start opening for Breakfast every day from 8am.

Employees:
They employ a Total of 11 Staff members, including 5 Waiters, with the Owners managing the business 'hands-on'.
Years established:
The business was established 20 years ago, and the present Owners have had it for the past 7 years.

Other Information

Support & training:

Should the business be Purchased outright, the Owners will stay on for a period to be negotiated, in order to allow for a smooth handover, and to show the new Owner how they currently run their business.

Furniture / Fixtures value:
R1,500,000 - included in the asking price
Inventory / Stock value:
R80,000

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