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Fast Food Take Away Delivery Business In Larnaca For Sale

Larnaca Centre, Larnaca District, Cyprus
Asking Price:
€160,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
€300,000
Cash Flow:
€50K - €100K

The business offers ethnic fast-food for take-away and delivery. Due to its prime/central location, it has a lot of take-away business from walk-in clients, while for delivery it has exclusivity for the whole of larnaca.

Business model

The business owns the franchise for the whole of Larnaca for the specific brand of take-away/delivery food. This franchise is highly successful with shops all over Cyprus and there is considerable growth potential, since Larnaca can support at least one more shop of this franchise, maybe more.

Clients enjoy excellent value for money in terms of the food quality, variety, generous portions but also fast & efficient service, whether for take-away or for delivery. This is the winning formula which explains the success of this business.

The food menu, recipes and preparation procedures have been developed by the franchisor and perfected over time to maximize quality, efficiency/speed of preparation but also to ensure a good profit margin.

Due to the business’s success from the start-up stage, advertising and promotion requirements have been very modest and currently the business relies on word-of-mouth/reputation as well as a strong presence in social media (facebook, instagram & trip advisor). FB followers are over 11.000 while it enjoys a 5.0 rating from Trip Advisor reviews!

The central location facilitates quick deliveries to anywhere in downtown/central Larnaca and the business employs two expert delivery riders.

Employees for this type of business are easy to find and train, therefore there are no issues with staff.

This is a cash business with no credit hassles, therefore it is debt-free and only needs a current account with the bank.

Finally, franchise fees are modest and there is no pressure to continuously expand with new shops (as with most franchises) although there are opportunities for expansion for someone who is willing to put up the capital, time & energy.

Location

The shop is located in downtown Larnaca on one of its busiest avenues, which has heavy foot traffic and is also very close to the seafront. Take-away clients can enjoy their food at the shop premises (seating for up to 8 persons is provided in front of the shop, as allowed by the snack-bar license), on the road (“street food”) or on the seafront nearby.

The shop enjoys excellent visibility from both pedestrians and vehicle drivers on the avenue, who can park outside the shop for a quick order pick-up. For those who want to enjoy their food while strolling or sitting by the seafront, there is plenty of public car parking available nearby.

Premises

The shop is designed and set up for efficient food preparation. The ground floor includes the client order counter/waiting area and cashier desk, a full kitchen and refrigerators. Upstairs in the mezzanine there is additional refrigerated storage, staff toilets/shower and a small preparation kitchen.

Shop set-up & equipment

The shop is fully equipped according to franchise standards & specifications. The exterior, signage and interior were professionally designed. Included in this sale is all equipment & machinery which cost about €44.000 (the total cost of shop set-up including working-capital was €55.000, excluding stocks).

Hand-over & support

The current owners will provide hand-over support & training until the buyer is ready to manage the business on his/her own. Any person with some experience in business will not need more than a month of support. In addition to the support to be provided by the current owners, the franchisor will assist with training on procedures.

Offer to sell

The business is offered for sale solely due to the owner’s pressing family obligations. Asking price is €160.000 to purchase 100% of the business in a “clean sale”, with no debt or liabilities on the company books.

Included in the sale is the exclusive franchise territory for the whole of Larnaca, the rented shop and business as an ongoing concern with all of its equipment, furnishings, furniture, personnel, supplier relationships, stocks as well as all client records (more than 6 thousand) and social media pages.

Property Information

Real Estate:

Lease

Lease Terms:

Renewable indefinitely with 5% rent increase every 2 years

Leasehold Rent:

€5,400 per annum

Location:

The shop is located in downtown Larnaca on one of its busiest avenues, which has heavy foot traffic and is also very close to the seafront. Take-away clients can enjoy their food at the shop premises (seating for up to 8 persons is provided in front of the shop, as allowed by the snack-bar license), on the road (“street food”) or on the seafront nearby. The shop enjoys excellent visibility from both pedestrians and vehicle drivers on the avenue, who can park outside the shop for a quick order pick-up. For those who want to enjoy their food while strolling or sitting by the seafront, there is plenty of public car parking available.

Premises Details:

The shop is designed and set up for efficient food preparation. The ground floor includes the client order counter/waiting area and cashier desk, a full kitchen and refrigerators. Upstairs in the mezzanine there is additional dry & refrigerated storage, staff toilets/shower and a small office.

Size in square feet:
660 sq.ft.
Planning Consent:

Town Planning permit with regard to type of use and Local Authority license as "snack-bar/take-away" business.

Business Operation

Expansion Potential:

The company has the exclusive rights for the whole of Larnaca, it is possible to open a second shop, possibly a 3rd shop.

Competition / Market:

Larnaca centre has many similar businesses, but it is difficult to find a take-away/delivery business which offers the same combination of good quality fast food at affordable prices.

Reasons for selling:

Current owners/partners have several other businesses

Trading hours:

Monday - Saturday 11:00 – 22:30
Sunday 17:30-22:30

Employees:
4 full-time and 1 part-time
Years established:
3

Franchise Information

Franchise opportunity:

Franchise Resale

Franchise terms:

Purchase of main ingredients from the franchise.
1% on turnover above break-even point.

Other Information

Support & training:

The current owners will provide hand-over support & training until the buyer is ready to manage the business on his/her own. Any person with some experience in business will not need more than a month of support. In addition to the support to be provided by the current owners, the franchisor will assist with training on procedures.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Depends on guarantees given by buyer.

Furniture / Fixtures value:
€44,000 - included in the asking price
Inventory / Stock value:
€5,000 - included in the asking price

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