Business for Sale

Ocean Basket Randburg Area(Sold.Sold.Sold) for Sale

business for sale This Ocean Basket is well-known family restaurant franchise opportunity. Previously it was run by a franchise appointed manager who didn’t have the business’s best interest at heart. The landlord closed the business and a new owner bought the franchise in October 2014. The new owner has grown the business over a very short period of time to reflect a 30% month-on-month growth. Shortly after buying the restaurant, the new owner was head-hunted by a large blue-chip corporate company to run a division, which is an offer that the new owner has decided to pursue. This Ocean Basket is well positioned in a high-density, up-market Shopping Mall. This opportunity requires a person who has previous restaurateur or retail experience and would benefit greatly from a hands-on owner/manager. The new owner wishes to see that the good growth that has already been attained, is continued. The site was re-vamped less than 3 years ago and all existing furnishings and equipment will be sold with the restaurant. Due to only 3 months financials being available, the restaurant is being advertised as a “lock and stock” opportunity as the financials for a full 12 month period are unavailable. This is a rare opportunity where the capital investment requirement is minimal, versus a start-up restaurant opportunity which would require significantly larger funding from the outset. We have provided you below with the last 3 months management accounts up to date, Kindly note that a proof of minimum 50% cash on hand will be requested from any prospective purchaser/s y particular business.

Business Details

REF AB113
Asked Price R 700,000
Location Johannesburg | Gauteng | Randburg
Business Type Restaurant
Reason for SellingOwner Head hunted
Year Established2014
Number of Employees 10
Monthly TurnoverR 522,000
Monthly Net Profit R 85,000
Monthly Payroll Expense R 300,000
Movable Assets Value R 200,000
Stock Value R 40,000
Owner Oporated Business Yes
This is a Frenchise BusinessYes
Property Included in The Sale No
Seller Will Assist / Train buyerYes
Business is ProfitableYes
Size 260 M2
Lease Term 5 Years
Monthly Rental R 26,000
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Business Partners South Africa
The Franchise Association South Africa
National Employment Fund
Industrial Development Corporation