Gugulethu Boasts its Own Spur
Cape Town – Gugulethu now boasts its very own Spur, the first in a Cape township.
Amitola Spur franchisee Nhlanhla Mdluli reported positive client feedback after the first guests were welcomed in mid-December. “This is the first Spur in a Cape township, and most people appreciate it a lot that the restaurant has been brought to their community.”
The Amitola Spur covers 400m?? and has room for 200 people. It is located in Gugs Square, the township’s first shopping centre.
However, it is not Spur’s first township restaurant. The group is already doing business in Atteridgeville, Umlazi and Kwa-Mushu. Shopping-and-entertainment centres in such areas create opportunities because they support family outings.
According to Spur MD Pierre van Tonder, every market offers development opportunities. “We also have restaurants in places like the Carlton Centre, Hillbrow and Braamfontein in Johannesburg and West Street and The Wheel shopping centre in Durban.
“There are, for example, also eight halal eating places, which again focus on another niche market. Spur aims at covering all sectors of the South African family market.”
However, a centre like Gugs Square offers an exceptional expansion opportunity. “The market has a strong family lifestyle, and Spur fits in well with this,” Van Tonder said.
Spur is one of the few groups that has not given way under the economic downturn. In fact, for the financial year to end-June it increased its diluted headline earnings by 12.3% to 83.12c, compared with the previous financial year.
Like Famous Brands, this is one of the local restaurant groups that hopes aggressive expansion will enable it to benefit from the 2010 Fifa World Cup soccer tournament.
Spur group also owns John Dory’s and Panarotti’s, and the company currently has 312 eating establishments in South Africa and outside the country.
Brokers on McGregor BFA see this share as a “buy”.