How does the business operate on a daily basis?
Youth Segment: Steers has positioned itself as a leading fast-food brand in South Africa, gaining significant market share and becoming a preferred choice among the youth segment1.
Quality-Conscious Consumers: Steers is known for its high-quality flame-grilled pure beef burgers and handmade chips, attracting clients who prioritize quality in their fast-food choices1.
Families and Groups: Steers' menu and restaurant environment are designed to cater to families and groups looking for a casual dining experience

How are the clients attracted to the business?
Both Steers and Fishaways are well established in the area providing sit-down, take-aways and deliveries.

What Advertising/Marketing is carried out?
The head office runs and manages all marketing and advertising promotions.

What are the seasonal trends?
Summer Months: Steers tends to see an uptick in business during the summer months. This is likely due to increased social activities, holidays, and warmer weather, which encourage people to dine out more frequently.
School Terms: There is also a noticeable increase in business before school terms start. Families and students often visit fast-food restaurants like Steers for convenient meals during these periods.
General Trends: The fast-food industry in South Africa, including Steers, has shown substantial growth, with an increase of 8.7% between 2022 and 2023. This growth is expected to continue, driven by influencer marketing efforts, loyalty programs, and initiative

Is the business VAT Registered?
Yes

What VAT documentation is on file?
All vat returns are available.

Are there up-to-date Management Accounts available?
Current management accounts available.

How could the profitability of the business be improved?
Greater owner involvement and single store owner will automatically reduce expenses.

Is Seller finance available and for what amount?
No seller finance available.

What is the total staff complement?
16 staff members including managers

Are they on contract?
All staff have permanent contracts

Do any have management potential?
The franchise outlet is currently manager run.

How involved is the Owner in running the business?
The owner is not involved on daily basis as they have multiple stores, however the owners do provide oversight from time to time

When does the current lease end?
30 November 2027

Is there an option of renewal & what period?
Renewal option of 5 years.

What is the annual escalation %?
7% escalation

What are the trading hours?
9am to 9pm, Monday to Sunday

What is the square meters of the business?
182sqm

What lease deposit and/or other surety is required?
2 months exit rental

What are the main assets of the business?
Standard Steers and Fishaways franchise spec. comprising of shop fittings and fixtures, computer system and cooking equipment.

What is their overall condition?
Good working condition as owners run a continuous maintenance plan on all equipment.

Are they presently insured?
All assets are comprehensively insured.

Strengths?
Brand Recognition: Steers and Fishaways are iconic South African fast-food brands, attracting a loyal customer base.

Diverse Menu Offering: Combines burgers, fries, and flame-grilled meals from Steers with seafood options from Fishaways, appealing to varied tastes.

Proven Business Model: Established systems, marketing support, and operational guidance from the franchisor.

Strong Foot Traffic: Prime location ensures a steady stream of customers.

Weaknesses?
High Competition: Competes with other fast-food chains and local eateries.

Opportunities?
Market Growth: Expanding fast-food industry in South Africa and globally.

Delivery Services: Increased demand for convenience through online platforms like Uber Eats and Mr D.

Menu Innovation: Opportunity to introduce healthier or trendier meal options to attract new customer segments.

Threats?
Economic Fluctuations: Changes in the economy could impact consumer spending on eating out.

What is the reason for the sale?
The owners want to focus on other business interests.

Why is this a good business?
Strong Brand Recognition: Steers is an iconic South African fast-food brand with decades of history, making it a trusted name among customers.

Delicious Specialty: Known for flame-grilled burgers, ribs, and chips, Steers appeals to customers who value taste and quality.

Proven Business Model: As part of a franchise system, you'll benefit from established operational processes, marketing strategies, and support from the franchisor.

Loyal Customer Base: Steers has a dedicated following, ensuring steady business.

Growth Potential: The fast-food industry continues to expand, particularly with options for delivery services, mobile ordering, and new menu innovations.

Community Connection: Steers is deeply integrated into South African culture, which can help foster a strong sense of community engagement.