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Well-Established Devon Sales & Letting Agent for Cyprus Properties, Franchise & Online Growth Potential

Undisclosed, Devon

CONFIDENTIAL SALE

  • Status

    FOR SALE

  • Date Submitted:

    25/05/23

  • Advert ID

    513776

  • Reference

    B06258 / Rightbiz

  • Call Agent:

    Registered members »

  • Asking Price: £1,100,000
  • Turnover: £314,981 (£6,057 Per week)
  • Net Profit: £178,628 (57% Profit margin)

Business Details

Well established Sales and Letting Agent business for sale

Business
Please quote reference B06258

CoGoGo is delighted to present to the market a very successful sales and letting agent established in 2002.

The ‘business only’ acquisition has access to over 7,000 properties in Cyprus (1,500 direct) and offers any new owner the opportunity to expand its Franchise model which has already been created.

The franchise model would allow any new owner to take an upfront registration fee for specific postcode territories across the UK.

The opportunity is on the market due to other business interests however our client will offer a full business handover to ensure the smooth transition of its complete portfolio.

The family run business has been selling, sourcing and renting out properties for over 20 years and have successfully built several projects across the island.

The independent agent can give experienced advice on investment opportunities, family and retirement homes, best schools, beaches and transportation of pets and furniture.

Our client has a trusted team of 34 self-employed agents (4 in the UK and 30 in Cyprus)

Very rarely do independent agents offering both sales and rentals at this level ever come onto the open market and we strongly recommend early enquiry to avoid disappointment. With a long period of people not taking holidays due to the Covid pandemic, we foresee the demand for holidays to Cyprus to significantly increase and therefore any new owner will be able to enjoy this high demand.

Key selling points -

  • Excellent reputation across Cyprus and UK
  • Large number of properties available for sale and rental
  • Very profitable business model
  • Further potential to expand franchise side
  • Excellent business website
  • Facebook - 1,829 followers
  • Instagram - 896 followers
  • Twitter, Pinterest, LinkedIn pages
  • Full business handover offered


Location
The business is a successful sales and letting agent concentrating on properties located in Cyprus.

Cyprus is the third largest and third most populated island in the Mediterranean and increasingly a destination for villa holiday rentals/second homes.

Key areas include Larnaca, Paphos, Limassol, Pissouri Village and Bay, Famagusta, Troodos, Nicosia, Aphrodite Hills and Secret Valley.

They have an office based in the UK and Cyprus.

The opportunity is now being sold as a ‘Business Only’ allowing the transfer to any alternative UK location.



Premises
N/A



Tenure
We are advised that the business is being sold on a Business Only basis. 



Hours
The business is trading 24/7 through their online platforms. 



Staff
We are advised that the business has 1 full-time staff member. 



Financial Profile
We are advised that turnover for 2023 is IRO - £622K. Full financials can be made available upon further request. 

Please quote reference B06258

 



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Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

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Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

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Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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The data showed regarding this advert 'Well established Sales and Letting Agent business for sale - B06258 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.