Business For Sale. Restaurants - Gauteng (gp)

The restaurant is situated near a shopping centre's next to the N1 highway. The Restaurant offers a unique and very private setting, overlooking a tranquil dam with lush surrounding gardens. The restaurant has a stylish and cosy atmosphere that caters for a wide variety of client�¨le, and is a perfect venue for families. A wide stoep leads to an informal section under a huge Tipuana tree. Inside the restaurant, a more formal abidance is enhanced with live piano music.
Co-owner and Chef compiled a menu and wine list of exceptional standard, ranging from international speciality dishes to steak and seafood dishes. The a la carte menu is complimented with a set menu and lamb-on-the-spit on a regular basis. Breakfast, light lunch and kiddies menu's are also available.
The target market is functions, weddings, people in the surrounding areas, family outings and
foreign tour groups that are eating there every Friday.
They have confirmed bookings for the next few months.
The restaurant is advertising on web sites.
Average monthly turnovers for 2010 and financial year ends were R188,000 and R202,000 respectively.
Gross profit was 55.4% and Expenses were on average R71,864. The ROI for 2010 is good at 22.6% and with a payback of 36 months.
Detailed signed financials are available to serious buyers.
The assets are in a good condition and a full list are available.
Total assets is stated at a fair value of R1,000,000k and inventory is +- R50,000
7 Permanent Staff in the Kitchen
1 Full time Manager
11 Temporary Waiters
1 Chef
5 year lease period with escalation of 8% on turnover.
Lease will expire end Oct 2011 and needs to be re-negotiated with a renewal clause in place.
Owner move to Plettenberg Bay.
There are confirmed bookings for the next few months.
There are 250 seats available and they are busy with another 150 seats, which give a total of 400 seats.
They are catering for weddings and other functions. They have a contract with foreign tour groups to visit them every Friday. Also there is room to attract more customers with a higher advertising expenditure.
This is a restaurant that is ideal for functions and family outings with its nice gardens and view.
Well established restaurant/grill in with a proven track record.