Initial capital expenditure register (R m)
|
Category |
Amount |
Treatment / life |
|---|---|---|
|
Flagship store fit-out |
2.8 |
Depreciated 10 years |
|
Production equipment |
2.1 |
Depreciated 8 years |
|
Central production kitchen |
2.5 |
Depreciated 10 years |
|
Mobile catering units (2) |
1.6 |
Depreciated 6 years |
|
Cold-chain equipment |
0.8 |
Depreciated 8 years |
|
Technology & POS systems |
0.6 |
Depreciated 4 years |
|
Marketing launch |
1.0 |
Expensed |
|
Initial inventory |
0.7 |
Working capital |
|
Working capital |
2.5 |
Funds operations |
|
Contingency |
1.4 |
Reserve |
|
Total |
16.0 |
Assumptions register
|
Parameter |
Value / treatment |
|---|---|
|
Repo / prime rate |
7.0% / 10.5% (SARB, mid-2026) |
|
Corporate tax |
27%, assessed losses carried forward |
|
Funding |
R16m equity (all-equity base case) |
|
Depreciation |
Component; fit-out 10-yr, equip 8-yr, kitchen 10-yr, mobile 6-yr, cold chain 8-yr, tech 4-yr, kiosk 7-yr |
|
Working capital |
5% of revenue |
|
Cumulative capex |
~R44m over five years (rollout funded from cash) |
|
Debt capacity (illustrative) |
~R8m secured term facility; ~R1.8× Y2 DSCR |
|
Exit multiple |
8×–12× EV/EBITDA (branded QSR / franchise) |