THE TRADITIONAL CYPRIOT TAVERNA FOR SALE
Price: 130,000.00 Euro
This traditional Cypriot Taverna just outside Paphos has established a loyal following and a strong reputation in a short space of time. Its unique blend of freshly made Mediterranean fusion cuisine and live entertainment, draw in significant business, even off season. It’s a specialised concept offer and an opportunity for anyone with a passion / knowledge in the restaurant / entertainment business. Can be considered a lifestyle business offer. The owner, who has many other committed business interests, will stay on as advisor until the new owners are fully versed into what is an extremely successful business formula.
There are two parts to the restaurant. The inside area will seat up to 80 and outside up to 90. There’s also additional seating for 40 on a terraced area in front of the restaurant. There’s parking spaces for 15 cars and supporting beams in place to develop a roof terrace, which would expand the offer and also deliver sea views. The owner has already invested around 97,000 Euros into the infrastructure and design. Included in the remodeling is a fully revamped electrical system.
Together with the owner/ chef there are three current employees, running a very tight and organised restaurant. The kitchen is fully equipped and is included in the asking price as are all the furnishings.The menu dishes are all unique and freshly made. A Tapas fusion where guests are invited to create their own Meze. There’s a focus on healthy foods and the restaurant also caters for vegetarians and vegans. Live entertainment is booked throughout the season and too plays a big part in the restaurants appeal. All of this detail would be passed on to the new owners as a formula that sells itself.
Private events / parties add to the bottom line .The owner has an extremely well developed network of introducers too. The local medical practitioners hold regular events for up to 40 persons at a time and a local apartment complex for holiday rentals is sending their guests for meals as well as other sources of direct introductions. This is an area of development where there’s huge potential for expansion. In addition, opening for lunches, which currently is not being offered, would increase revenues significantly and, the lunch time trade will bring additional nighttime trade.
The written on-line reviews are genuine and of top order and add weight to the restaurants appeal. All permits for the restaurant are in place, rents are extremely low and could be secured for an extended period. The building itself is historical and the restaurant has a great deal of charm. There is an opportunity to take it over and further develop this successful destination restaurant.