How much would it cost to Rent a Shop in North Cyprus

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 13:15

Hi,



Just wondered if anyone knows how much it would cost to rent a shop in North Cyprus possibly Girne or Magosa near the town centre? If there is anyone in the Food Industry that can maybe advise of Companies in TRNC that supply packaging etc? (Equipment/Cups/Serviettes) Thinking of opening a Snack Bar.....



Thanks very much

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
31/08/2011 13:29

Uzay,take it from a Cypriot...............don't be silly,stay where you are(London!).As far as the food/catering industry is concerned,it's been taken over by gacos and you'd be wiped out in no time.So many have come back with full of hopes...........so many have gone back after not only loosing hopes but also their lifetime savings.

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 13:44

Thanks for the message but I get mixed comments all the time...I have family that have opened food business & been very successful find it hard to believe how people return to the UK which is very expensive high tax rates etc etc personally i think it depends on your outlook & intentions but thanks for your comment anyway you are obviously not happy where you are?!....

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
31/08/2011 13:59

yes,some did come back and made success out of being back,but majority have not.As for myself,I trod along day by day,but I'm one of very few that had been carefull from day one and even then I lost 1000s.Yes I understand UK is very expensive when COMPARED,otherwise it's just another one of those places.Many of us lost because of having mind like yours,wanting easier life..........and as much as there is nothing wrong with that for many of us it didn't turn out that way.Perhaps if you were to come over for few months and assest it yourself,you'll be able to have a better picture.



I got fed up working all the hours god's given in UK,and my mothers illness had brought me back.It'd have been much easier to have brought her over to UK.I could have sold the shops,go on the dole after 6 months.....etc etc.At least that way the brits here would have had a right to accuse me of living off british hand outs.



Whatever you decide to do I wish you all the best.

Lambousa Gordon


Joined: 03/11/2007
Posts: 1992

Message Posted:
31/08/2011 13:59

Provisioning costs are much higher in the TRNC than the UK.

Taxes are similar in theory, but actually higher in practice because of the myriad different interpretations of the "tax-code".

Payroll and payroll taxes are also similar to the UK - assuming you want staff who are able to read and write.

Rates are lower than the UK.

Rents tend to be cheaper than the UK though that may depend on location.



Some Cypriots are successful in the industry here (Ambiance, Silver Rocks spring to mind) but in an effort to remain competitive corners are being cut and more "frills" are disappearing.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
31/08/2011 14:57

Message 3. Have your family opened a business here in the TRNC?

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 15:01

Yes quite a few and are happy & successful - I appreciate the comments - guess everywhere has its ups & downs and certainly not being naive about it have spent a long time planning.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
31/08/2011 15:02

Wouldn't your parents be able to answer your question in message 1?

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 15:12

They dont live there just holidays we have a holiday home there thought it may be best to ask locals or people living in TRNC - guess the best thing to do is research ourselves. Cheers.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
31/08/2011 15:29

Message 9. You said in message 7 that they had "quite a few" businesses and were very successful.



Now you say they only holiday there!



I'm confused.

cocobutik


Joined: 02/05/2011
Posts: 188

Message Posted:
31/08/2011 15:42

Uzi81 - My family lived in the UK for around 50yrs. My siblings and I are are all born and brought up in London. I now live in Kibris with my parents and are doing just fine. We have properties and shops over here also. Don't let too much negativity get in the way of things that you want to do. Starting a business is the same all over the world. You must do your homework first..



Depending on the sort of ''Snack Shop'' you are looking at getting into, there is still good business to be made if you are very careful and have a little luck behind you.



Good Luck

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
31/08/2011 15:43

msg1



Take the advice Yorgozlu has given, I have been here 4 years and do not know one single London Cypriot that has made a success of any kind of business large or small myself included..



North Cyprus is not a place to do business, I sincerely hope you take mine and Yorgozlu's advice.



If you are still determined to throw your money down the drain I have a nice shop for rent in Kyrenia which you can have for 400stg per month...

cocobutik


Joined: 02/05/2011
Posts: 188

Message Posted:
31/08/2011 15:47

Also, personally I would not be adamant about getting a place in the centre of town because you would have a lot of competition, high rent and also parking in town, especially Girne, is becoming more and more difficult.



Whatever you decide though, I wish you all the best.



Alot of people tried to put me off starting something over here. I opened my Boutique in December 2010 and was told I wouldn't last 3 months. I'm still here without any debts owing and although I can't take out a salary as yet, the shop is looking after itself. Could I have done that back in London? I don't think so.

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
31/08/2011 15:50

msg 13



Are renting your business premises ?



If so you are doing exceptionally well...

cocobutik


Joined: 02/05/2011
Posts: 188

Message Posted:
31/08/2011 15:56

Stonehousepub - Yes I am renting.



The thing that everyone forgets when they are trying to do anything over here is that its bad everywhere. Look at the rest of Europe?



Its diffucult when things don't go as planned and we all have diffucult times. But when compared to what esle is going on, then I'm glad I started something here and not back home.

moxie


Joined: 23/05/2009
Posts: 969

Message Posted:
31/08/2011 16:01

Gacos? (nasty word for a foreigner)did they force TC'S out or did they sell up? genuine question!

Stonehousepub


Joined: 21/05/2009
Posts: 755

Message Posted:
31/08/2011 16:10

Coco



I tend not to agree with you, I believe in footflow which the TRNC does not have enough of, running costs are much higher than in the UK and your potential market is is vast compared to here.



In my opinion any business has more chance of success in the UK than here.



I do wish you the best of luck in your business and hope cocobutik is around for many years to come.



Ozi

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 16:18

Good for you CocoButik & thanks for your advice I agree the whole world is going through the same thing it solely depends on the type of business and ensuring you have done your research that is the main thing I have heard heaps of horror stories of people that have sold up & moved to Cyprus & come back with nothing! How have the locals survived then? Makes you think I guess anyway I appreciate the positive advice from some of the people on this forum makes you reluctant to ask any further questions though I guess? I am new to the Forum and a bit suprised with some of the things people have said? Oh well....Best of luck with your new venture Cocobutik

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 16:32

Thanks so much for your comments Cocobutik I agree - re: Business's of Family members i didnt mean my parents I meant cousins etc just to get that straight! I agree alot of negativity on here its always the same....However going back to Cocobutik - I totally agree with you.

Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
31/08/2011 16:40

Your cousins should be the ones you are asking advice from seeing you don't want to hear any negatives, if they rent they will tell you how much a rental costs.

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 16:49

It was a genuine question someone seeking advice from people living in TRNC that has escalated into something else.....interesting how people are....mmmmmm

Uzi81


Joined: 31/08/2011
Posts: 10

Message Posted:
31/08/2011 16:49

I can see a pattern with the people that have put negative comments on this thread......

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
31/08/2011 17:23

Uzi81



I really think that you are misreading the comments on here. Yorgo and Stonehouse are both ex London Cyps and Stonehouse has/had a business here. They have no reason to mislead you. If you don't want to hear the negatives as well as the positives, then don't ask the question....simples . I have lived here for 3 years and the amount of businesses that I have seen fail is staggering. Many, many businesses, particularly fast food/cafes/restaurants last only a few months. If you want a thriving business, get into sign writing or shop fitting - you will never be short of trade



Regards



Paul

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
31/08/2011 17:25

you can pick holes in anything if you want too !





still a total waste of time.





however you get your kicks !

dalartokat


Joined: 14/04/2008
Posts: 734

Message Posted:
31/08/2011 18:30

Uzi81...not sure how up to date it is but YAGA Cyprus Turkish Investment Development Agency gives some good information on business, it may tell you things you already know but worth a look. Sorry but you will have to Google as don't know how to post link.

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
01/09/2011 01:09

msg 16;

No,most sold up to them to get away from them.As for 'gaco' being a nasty word..........I often heard black people in uk refering to themselves as 'xxxxxx'..........then I heard english calling them with same reference!



How is it that,it's ok for them to refer one another with that name but it is racist coming from someone else.





tip;how about staying on topic.

cocobutik


Joined: 02/05/2011
Posts: 188

Message Posted:
01/09/2011 03:38

uzi81 - I agree with you totally. Too much negativity!! I'm fairly new to the forum aswell and you are right.



Of course there are negatives and positives to every discussion. Thats the whole point of it. However, everytime I login and there is a genuine question or a perfectly good topic for discussion, the same people come out to stomp all over it. They always seem to be on here.



Maybe if they got out a bit more, they wouldn't feel so negative about everything.



If you have the chance to do something and you really want to, then go for it.. At least you can say you've given it a go if things don't work out.



Go with your gut feeling

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
01/09/2011 10:08

Msg 1: Presumably you have researched all the bureaucratic 'red tape' and substantial setting up costs involved in KKTC?



From what I have both heard and observed, unless you own your business premises, it's very difficult to succeed here, due to the overheads.



It seems that tax demands can be made of you that bear no relation to your turnover, or volume of business - be aware - be very aware!



Of course, as with so many business enterprises, LOCATION is EVERYTHING!

ozziegogo


Joined: 18/03/2011
Posts: 25

Message Posted:
26/09/2011 13:47

Hi MESSEGE 23 FIENDISHPAUL, i am a sign painter and artist, how can i go about starting my own business? please i need help! i have tooo much talent & i'm going to waste!

ozziegogo


Joined: 18/03/2011
Posts: 25

Message Posted:
26/09/2011 13:50

Hi MESSEGE 23 FIENDISHPAUL, i am a sign painter and artist, how can i go about starting my own business? please i need help! i have tooo much talent & i'm going to waste!

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
26/09/2011 13:53

Well don't waste it in the TRNC....

Yel2011


Joined: 27/04/2011
Posts: 377

Message Posted:
09/10/2011 23:58

I just found a shop in Karaoglanoglu if you like



http://www.frasermeridies.com/properties/rental-services?id=18794939



hope this helps



its £250 a month