COVID-19: The business re-opened since the lockdown finished in Cyprus and sales are up compared to last year! This is NOT a distressed business!
This Beauty and Toiletries Discount Retail Outlet enjoys a high volume of year-round, regular & loyal clientele. Priced for very quick, genuine sale, owners need to relocate and devote their time to other businesses.
Huge scope to upscale and open stores across Cyprus, as well as for online sales. This successful, profitable store is very well known and established in Cyprus. The business is also very popular on social media concerning Beauty and Cosmetics across the region.
The business imports famous Cosmetic and Toiletries Brands, such as Revlon, Rimmel, Dove, Max Factor and Maybelline, which are sourced at discounted prices. It offers a full range of Toiletries, Hair Products, Body lotions, Cosmetics, Accessories, as well as some confectionery and household articles, at competitive prices.
The business has various Suppliers that deal in surplus contracts with major cosmetics and toiletries producers. This enables the business to sell Brand Named products below recommended Retail prices. The main, staple suppliers grant 30 days credit terms at present. These terms should remain with the company, provided it is a share purchase and buyers have a good credit history.
The retail outlet has highly trained, pleasant staff and a capable, highly skilled shop floor manager. Therefore, although this business is not suitable for an “absentee owner”, the new owner can concentrate on managing the business and rely on staff for most day-to-day routine tasks.
Sales & Inventory management is computerized with every product bar-coded which enables efficient control of purchasing & stocking, as well as the generation of detailed sales reports.
This business had formidable expansion potential by opening further outlets in other towns, as well as online retail (e-commerce). A professionally designed e-commerce website has been created at a cost of €50.000 and it is included in the sale.
The shop is located within a modern building in Paphos, on a busy commercial street. The immediate area is built up with shops, offices, clinics and residential apartments. It is highly visible and easily accessible by car, on foot or public transportation. There are parking spaces for customers on the road (4-5 cars), opposite the shop (15 cars) as well as behind the shop.
The expansive 16.5 meters long frontage of the shop is impressive with it’s 6.5 meters high windows, covered with stylish advertisement posters. It is simply unmissable.
The entrance is via a wide terrace, accessible via stairs and there is also a ramp for the disabled.
The shop consists of 3 shop units which were joined to form an integrated, large shop of 215 sq.m. on the ground floor, with linked basements and mezzanine. Since the mezzanine extends to 40% of the ground floor space, the front of the shop has a high ceiling (6.5 meters) giving the shop an airy feel. The glass door entrance leads into the center of the retail space, from where the customer can see the whole shop.
The layout of shelves, displays and shop decoration is designed to attract shoppers, invite them to browse and have a pleasant shopping experience. To the left of the entrance are seasonal goods such as gifts and confectionery, to the right there is the shelving for toiletries and all the cosmetic stands. In the center of the shop there are display stands that have seasonal, frequently changing merchandise for impulse buyers. Straight across from the entrance, on the far wall is the till area, with display shelves behind the till.
The basement warehouse space is 146 sq.m. plus parking, which has been fenced in for additional storage of 28.5 sq.m. The warehouse, accessible via one staircase from behind the till counter, is linked to the ground floor shop with a goods lift. The warehouse has industrial shelving and some adapted shop shelving throughout. It is directly accessible by delivery vehicles via a ramp.
The mezzanine space, which is accessible by two staircases from the shop ground floor, is 94 sq.m. Here there is a large, fully equipped office with private toilet, a coffee corner with separate toilet for clients and a kitchen, rest/coffee area and separate toilet for staff.
SHOP SET-UP & EQUIPMENT
The shop interior has been professionally designed, with fittings & equipment of the highest standards. The total cost of shop set-up was approximately €70.000 including equipment/fixtures cost of €55.379, professional fees, craftsmen and labour costs, but excluding stocks and e-commerce website.
Included in this sale are:
- 3 POS (3 licenses, 2 touch screen POS, one virtual for e-shop)
- full A/C in ground floor and office area
- anti-theft system
- CCTV system with 2 TV monitors, accessible from smart phone
- Full alarm system, also accessible from mobile phone
- bar-coding & stock control system
- shop fittings, display shelving, custom-made drawer units for cosmetics
- special interior design with large mirrors integrated on walls/columns, track spot lighting (German), extensive signage inside as well as large, 6.5meter high window signage on outside of shop
- slat walls with professional display stands for Jewellery, Accessories, etc
- shelving in warehouse
- goods lift
- Custom-built office, fully furnished & equipped (4 stations) with window to shop
In addition, the following intangible and marketing assets are included:
- Company with 10 years trading history (all assets, business undertaking and rent agreement is with the company)
- Registered Trade Name and Logo
- Professionally designed e-commerce website – design & labour cost €50.000
- Client database of 4 500 Customer Phone numbers
- 10 300 Facebook members
- 1 300 Instagram followers
- Google website/ google maps registered business
HAND-OVER & SUPPORT
The current owners will provide hand-over support to the buyer on a full-time basis for one month. Thereafter, help and advice will be given up to 2 days per week for the following two months. Longer period of support is negotiable. In addition to customary hand-over support, the current owners will personally introduce the new owners to the suppliers of the business, some of which are practically exclusive for Cyprus.
OFFER TO SELL
The business is offered for sale due to the owner’s pressing family obligations.
Asking Price is €80.000 to purchase 100% of the company shares in a “clean sale”, with no debt or liabilities on the company books.
Included in the sale is all equipment, furnishings and furniture as well as the e-commerce website and other intangibles, in total an asset value of €120.000. The business currently has a cash flow of €69.000, with excellent upside potential as outlined above.
Stocks at Cost on the date of transfer to be added (estimated around €100.000).