Bar, restaurant and gambling venue for sale in Cape Town.

Established lucrative, fully licensed bar, restaurant and gambling venue for sale in Cape Town.

Introduction:

• It is very rare that you find this kind of hospitality business being run for over 20 years by the same owner and now being for sale.
• This business is very well known by both locals, visitors and tourists alike and is situated in one of the areas in Cape Town which has seen an upsurge in activity and growth in the estate sector over the last couple of years.
• It has been awarded various prizes and accolades through the years including a top distributor of one of their product offerings- in fact due to being the top sales in a product, their supplier has offered to refurbish the whole interior of the business- the existing owner has opted to pass this opportunity on to a new owner.
• The business runs on three complimentary income streams i.e. a high-volume beverage trade, operator-settled gaming income and recurring rental from two other streams of income.
• All relevant licenses are in place and can be carried over to a new buyer (subject to the usual legal requirements/processes).
• Multiple growth opportunities exist i.e. doubling the amount of gambling machines (already approved), office space to be rented out, branding rights to advertise on outside/inside of building, etc.

 Financials – all financials can be proven:

Turnovers per annum:

• Alcohol sales average around R2,44 million.
• With the gambling income, the owner receives 33% of income.
• Ancillary income refers to the renting out of the kitchen/pool tables etc.

Annual average GP:

• Beverage                           R1,284 million % contribution to total sales R63%
• Gaming                              R585,500 % contribution to total sales 29%
• Ancillary income           R168,000 % contribution to total sales 8%
• Total GP                                R2,03 million

Annual NP (EBITDA):

•  R1,12 million

Selling price:

• R1,95 million (excl stock)- that gives you a ROI (EBITDA) of 57%.
• This is an extraordinary, high ROI for this kind of business!!!