WC restaurant sold to chain group

WC restaurant sold to chain group
2008/04/17

A restaurant in the centre of Stellenbosch was recently sold to a rapidly expanding franchise chain.
Tarragon Bistro in Stellenbosch was sold to the franchise chain Simply Asia, which in coming months is to launch a further five such outlets nationally. With 14 Simply Asia restaurants already successfully in operation, 11 are situated in the Western Cape.
"Being situated in historic Dorp Street in the heart of Stellenbosch, and with no other restaurants of this kind in the area, they are well-placed to cater for locals, including the numerous students in this university town, as well as tourists," says Joep Schoof, consultant for Pam Golding Commercial's (PGC) specialised Restaurant Division.
"Among other stock, we are currently marketing a variety of restaurants ranging in location from Camp's Bay to Muizenberg to Stellenbosch and the Winelands and other areas of the Western Cape. Buyers are wide-ranging, from locals to those in Gauteng and international investors, including those already established in the industry.
"While it's true that value for money is a key issue for restaurant, clientele, personal service and attention are other key ingredients. Successful restaurants are those where the clients feel at home - they receive excellent and personalised service - and yes the food must be good.
"In Cape Town, the successful restaurateurs are those who provide all the above and who cater primarily to please the local clientele - with the additional patronage of the tourism market an extra cherry on top. Tourism fluctuates, so if you don't hook in the locals during winter, for example, you will not fare well during a period when tourism wanes."
He says the fresh bakery/coffee shop concept where consumers can see the real product being produced, is increasingly popular. "They're looking for fresh produce and organic ingredients in a back to basics search for the best possible flavour."
From an investment perspective, Schoof says an efficient and successful operator can make back the original investment in two-and-a-half years.
"There are sound opportunities out there. However, the industry faces a new challenge in terms of the electricity shortages. New developments are providing for such contingencies in the planning stages and restaurateurs who do not make provision for energy supply need to plan forward," he adds.
For more information contact Joep Schoof on 084 415 1116 or send an email.

WC restaurant sold to chain group