CY0281L

EXCLUSIVE LADIES BOUTIQUE FOR SALE IN LIMASSOL

Business Type: Ladies Wear Business
Location: Limassol Centre, Limassol, CYPRUS  
Type of Tenure: Leasehold
Business Reference: CY0281L
Asking Price: € 95.000
Annual Turnover € 214.000
Gross Profit Margin 65%
Monthly Rent € 2.900
Stocks (at cost) € 100.000 (approx.)
Reason for Sale Family Obligations
Accounts Available 2018 Audited 2019 Pre-Audit
Years Established 12
Incorporated Business Yes (Limited Co)
Relocatable Business No
Car Parking Free on Street
Vendor Financing Negotiable (for stocks only)
Full-time Employees 2
Part-time/Seasonal Employees 1
Internal Area 100 sq.m. (1075 sq.ft.)
Mezzanine Area 50 sq.m. (538 sq.ft.)
Basement Area 100 sq.m. (1075 sq.ft.)

Description

LOCATION

The boutique is located in rented premises on Makarios Avenue in Limassol with 8 metres frontage facing the Avenue. This is a prime location for any type of retail, since it’s on the main commercial avenue in Limassol.

BUSINESS

The boutique is a MULTI-BRAND STORE which aims to provide its customers high-quality, ready to wear womens clothes, accessories and handmade jewellery at affordable prices. Inspired by the latest fashion trends as well as by the needs and lifestyle of contemporary women, the shop offers great variety of casual, business and special occasion outfits.

Brands come mainly from Greece, Denmark, Italy and Spain and with very few exceptions are direct imports from manufacturers. The current owner/manager avoids stocking clothes which are designed according to passing “fads”, the main emphasis is on everyday outfits which do not go out of fashion and offer value-for-money. The average purchase is around €100 to €150 per client. Stocking up is organized in two seasons, with purchases of around €70K to €90K per season.

The business has been operating for over 12 years now, so it is well known in Limassol and has loyal, repeat clients. Special promotions are done by SMS texts to over 3.000 mobile phones, while there is also strong presence in social media, primarily Facebook.

This is an easy business to operate and manage.  If the owner works full-time in the shop only one employee is needed. Opening hours are 9:30am to 7:00pm, except Wednesdays and Saturdays when closing time is 5:00pm.

PREMISES

The shop is fully fitted and equipped and consists of a ground floor and a mezzanine. The ground floor is 100 square metres and includes the sales area, sales counter and 3 changing rooms. Upstairs, in the 50 square metre mezzanine, there is storage space, office space, toilets and a kitchenette. The shop also has internal access to a basement, which is not used right now as the extra space is not needed. It is air-conditioned throughout and also has a sound system, alarm and all necessary electronic equipment. The interior design, furniture, shelving, and lighting create a comfortable, friendly and attractive ambience where ladies can shop at their leisure.

OFFER TO SELL

The business is offered for sale due to the owner’s pressing family obligations. It is a profitable business and a buyer can continue managing the business along the same lines to enjoy an annual income of around €40.000. The business is priced at €95.000, plus the value of stocks at cost which ranges from €40K to €100K depending on the timing of the sale and the season. Of course, stocks will be counted and checked by the buyer prior to the sale.

The current owner/manager will provide training and hand-over support for a month after the sale and then again when the season changes, to assist with purchases of new stock.

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