Diving is big business in Cyprus with an estimated 50.000 diving tourists annually, a number which has been increasing every year. While the main attraction is still the famous Zenobia shipwreck, there are several other diving attractions in shallow waters along the coastline.
This exceptionally well equipped and managed diving-centre is located right on Larnaca’s seafront and is only a few minutes ride by high-speed rib boat to the famous Zenobia wreck.
The business has a trading history of over 20 years and is operated by qualified and highly experienced diving instructors who will remain employed by the new owner after the business is transferred, if required. Alternately, the chief diving instructor will provide hand-over support and training to the new owner for as long as this is needed.
Therefore, the new owner does not need to be diving expert.
The business employs licensed Diving Instructors and complies with, or exceeds, all relevant EU standards.
The business is conducted from rented premises totalling 165 square metres (about 1.780 sq.ft.) with plenty of outdoor space. The rented space is organized into a Wetstore, a Drystore, a Compressor Room, Cylinder storage, a Maintenance room for regulators and cylinders, an Office & Training Room and a Retail Store which sells diving equipment and accessories. The business also has a rented space for its high-speed rib boat.
The business premises freehold may also be offered for sale, at an additional cost of about €800.000.
Machinery, Equipment, Vehicles and Boat:
All machinery and equipment is very well maintained and in excellent condition. Total investment in property, plant and equipment per Audited Accounts was in excess of €500.000. Below is a summary of the main items:
- The Compressor Room is the heart of the business and can produce gas mixes for open-circuit as well as CCR (rebreather) divers. The business is one of very few in the Mediterranean that is fully equipped to produce all types of gasses for technical diving, as well as for recreational diving. Any gas blend can be produced including blends required for deep trimix dives. The investment in Compressor & Blending equipment exceeded €60.000.
- High-speed Rib Boat with two 300-hp outboards and 17-person capacity, with trailer, value-at-cost €107.000.
- Three double-cabin pick-up trucks for transporting divers to and from the boat, value-at-cost about €30.000.
- About 150 Cylinders in very good condition, value-at-cost about €31.000
- About 25 Regulators, value-at-cost about €6.500
- About 140 Neoprene diving items value-at-cost €9.400
- About 17 Buoyancy Control Devices value-at-cost about €2.400
Lines of Business:
- Guided Dives: Guided dives are offered for both recreational divers and trained divers.
- Diver Training: Due to the expertise and qualifications of its personnel, the business offers training courses for all levels of divers up to Instructor level. It also offers Technical Diving courses and support courses in specialty diving equiment. This facility is the only one in Cyprus offering special training courses to local and foreign armed forces/marine police.
- Gasses: The fully equipped Compressor Room can produce all types of gases for own use but also for sale to other diving centres or individual divers.
- Sale of Equipment & Accessories: The company shop carries a wide variety of diving equipment & accessories which are sold to clients, students and the diving community in general. The business has exclusivity for most of the items. Average value of stocks carried is around €15.000.
This business is offered for sale at a very low premium above the value of plant & equipment, due to majority owners decision to retire. However, as mentioned above, all qualified & licensed staff can continue in the employment of the new owner.