business

CY0333L

PIZZA DELIVERY/TAKE AWAY - NICOSIA CENTRE

 
Business Type: Restaurant
Location: Nicosia Centre, Nicosia, CYPRUS  
Type of Tenure: Leasehold
Business Reference: CY0333L
Asking Price: € 200.000
Annual Turnover €220.000 (2017)
Gross Profit Margin 70%
Monthly Rent €940
Stocks (at cost) included in Price
Reason for Sale Other Business
Accounts Available YES (Unaud. 2017)
Years Established 48
Incorporated Business Limited Company
Relocatable Business Yes
Car Parking Free on street
Vendor Financing Negotiable
Full-time Employees 5
Part-time/Seasonal Employees 3
Internal Area 60 sq.m
Internal Seating 16
Terrace Area 20 sq.m.
Terrace Seating 30
 

Description

History

This family-owned pizzeria is one of the oldest and best established in Cyprus, with a continuous trading history dating back to 1970 (48 years). It enjoys an excellent reputation for home-made pizza with fresh ingredients and has a large, loyal client base throughout Nicosia.  The brand name alone has appreciable value.

Location

It is located on one of Nicosia’s busiest avenues with excellent visibility and heavy traffic, however, due to the long statutory tenancy the rent is very reasonable at €940 per month. 

Products

In addition to a wide variety of pizza, the business offers other fast-food such as submarines, wraps, burgers, fish & chips and salads.  Pizzas are baked in-house according to proprietary recipees (included in the Asking Price) while the dough is made by an affiliated company.  The new owner of this business will enjoy preferential treatment for the supply of ready-to-bake, home-made pizza dough.

Client base

The business is licensed as a snack-bar and can accommodate up to 16 sit-in clients inside and 20 clients outside, on the front terrace.  However, most of the sales are for take-away and delivery clients. Delivery is done with 4 motor-bikes, while the database has 20.000 active Delivery clients all over Nicosia.  The 4 Delivery bikes and Client database are also included in the Asking price.

Business System

The whole business system and operations have been perfected and fine-tuned over the years to ensure high quality, low operating-costs and easy management.  This knowhow will be transferred to the new owner who will enjoy extensive hand-over support from the existing owner, for as long as is needed.

In fact, the new owner does not need to have any experience in operating a pizzeria, this is a simple and easy business to manage.

Value-for-Money

The business is fully equipped with professional kitchen equipment, IT systems (POS, security, alarm, accounting) and office equipment which cost €50.530.  In addition, the shop was fully renovated recently at a cost of €40.000.  Therefore, total investment in equipment, furniture, fittings and interior design was €90.530, in addition there is appreciable value in the licenses, the trade name/brand, excellent location, fine-tuned operations and of course the actual profitability of the business.  Finally, this is a low-risk business offering a product in high demand.

Upside

The current owners have other business activities and are not pushing for more sales, as their time is limited.

  • Therefore, the business does not advertise and its current turnover (which averages around €240.000 annually) is based solely on repeat business and its reputation in the market.  However, a flier campaign in the past resulted in sales of €340.000 so it is easy to increase sales with a promotional campaign.
  • The pizzeria does not open on Sundays at all, another factor which can easily increase sales, as Sundays may account for a 20-30% increase in sales.
  • Finally, due to the brand name and efficient production system, the business can easily be expanded with new shops subject to a licensing or franchise agreement with the current owners.
 

Photos

  • The present business is offered for sale by DealMasters.  Any information downloaded or printed is intended strictly for private use by you as a Registered User of our web-site; it may not be copied, published or distributed in any manner. 
  • You are advised that this is a confidential sale, therefore no direct approach to the business owners or business premises should be made and all viewings should be arranged through DealMasters. 
  • Prior to disclosure of the identity of the business and/or its owners, business financials and other operational details, interested parties will sign the standard Confidentiality Agreement, which can be downloaded here or sent to you by fax upon request.
  • We do not perform any due diligence on businesses for sale, business owners, or the information provided by them.  Such information is passed on by us without any guarantee or responsibility. Interested Buyers are strongly urged to perform thorough due diligence prior to acquiring a business
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