business

CY0339L

FRANCHISED CAFE AT LIMASSOL MARINA

 
Business Type: Cafeteria
Location: Limassol Centre, Limassol, CYPRUS  
Type of Tenure: Leasehold
Business Reference: CY0339L
Asking Price: € 170.000
Annual Turnover 230000
Gross Profit Margin 60%
Monthly Rent 1866
EBITDA Margin 18%
Stocks (at cost) Euro 5.000 approx
Reason for Sale Other Businesses
Accounts Available 2018 Audited
Years Established 3
Incorporated Business Yes (Limited Co)
Relocatable Business Νο
Car Parking 2 Lots Private/Gated
Full-time Employees 2
Part-time/Seasonal Employees 3
Internal Area 90 sq. meters
Internal Seating 8
Terrace Area 40 sq. metres
Terrace Seating 40
Mezzanine Area 35
 

Description

Location

This cafeteria is at one of the most desirable locations in Cyprus!

It is within the Limassol Old Port complex, which has been fully renovated, pedestrianized and upgraded to accommodate boat owners, food & beverage outlets, retail shops and offices.

The Marina-Old Port complex has over 3.000 visitors daily on weekdays and over 6.000 visitors daily on weekends.

Another advantage of the location is that it is between the Limassol seafront promenade (“Molos”) and Limassol Marina therefore all foot traffic between Molos and the Marina passes from this location. The seafront complex offers a wide variety of recreation & leisure activities for the general public, both locals and tourists. 

The cafeteria is located just 30 meters from the seafront, with an open piazza between the shop-front and the sea, so views are uninterrupted.    

Another advantage of this location is that the Limassol Marina-Old Port Property Manager offers 24-hour security, maintenance and cleaning of all common areas, piazzas, green areas & pedestrian walkways. This ensures a neat, clean, safe and in general visitor-friendly environment, which is why the complex has become a very attractive destination for leisure.  

Premises

The cafeteria has been set up according to strict franchise specifications to enable efficient operation, but also a high-quality experience for clients.  Total investment in shop set-up, equipment, furniture and fixtures was €75.000.

It is fully equipped with the latest technology for cafeteria/snack-bar operations and all equipment, fixtures and furnishings are effectively brand new.  Important equipment (such as the two fully automatic coffee machines) are still under warranty. The POS system is computerized and enables control of sales/receipts, purchases and stocks. The business is also equipped with Theft Alarm, Fire Alarm and the requisite extractor fans according to regulations.

The whole shopfront is 10,0 meters long and open to the piazza.  Seating for clients is all along the front of the shop under retractable shades, with vistas of the Old Harbor and the sea. The back of the shop has a prep-room with freezers and storage space, while there is also a separate dry storage room for the sole use of the cafeteria. The café also has two parking-spots in a gated parking-lot with 24-hour security.

All necessary permits & licenses are held, including a “snack-bar” license which allows the business to serve alcohol (wine, beer, spirits) in addition to coffee/beverages & snacks.

The monthly rent, including all common expenses, extra storage room and 2 parking lots, is €1.866/month.

Business Model/Operations

The whole cafeteria operation is streamlined according to the franchisor’s tried-and-tested model and training manual.  Prices are competitive compared to other well-known café franchises and since the franchise has an excellent reputation, the name alone is enough to attract clients in addition to the location of course.

While the franchise is mostly known for its coffee and coffee-based beverages, it also offers a carefully chosen range of popular hot & cold beverages, hot & cold snacks, salads, ice-cream and sweets/ desserts. Everything that needs to be eaten fresh is prepared on-site, including most cold & hot snacks such as sandwiches and savory pies. Pies are kept frozen, heated and served on demand.  

In addition to sit-in or take-away clients, the cafeteria delivers to clients in a large exclusive territory (see Franchise Terms below).

The end-result is that while a full kitchen (and kitchen staff) is not needed, all products are prepared fresh in the shop to ensure high quality with minimal labor cost and no waste.   

The cafeteria opens at 6:30am to catch the morning coffee & breakfast-snack crowd and closes late, depending on the season.  Hence two shifts are needed, with two full-time and three part-time employees.

Franchise Terms

The business enjoys an extensive exclusive territory for deliveries along the Limassol seafront, while the nearest cafeteria of the same franchise is 4 km away in the city centre and about 15 minutes drive.  Therefore, this cafeteria services a large seafront area, starting from the Limassol Zoo to the East, covering the whole Old Port and Limassol Marina complex and extending to the West of the Marina. 

The franchise charges royalties on the turnover, which in the case of this business have been kept very low (details to be disclosed to seriously interested buyers.

Offer to Sell

The business is offered for sale due to the owner’s other business activities which are outside Limassol. The business is offered as a going concern, with all licenses, franchise agreement, rent agreement, equipment, personnel and stocks.

Discretionary earnings of the owners are currently around €65.000 after all operating expenses, including staff wages, are paid. With the completion of roadworks in the surrounding area within 2019, both Turnover and Earnings are expected to increase.

 

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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