# Retail business owners



## dusty321 (Feb 12, 2009)

Hi All

Just wondered if anyone on here runs a shop or knows of anyone who runs a shop of some sort. We are looking into it as this is what we did in the UK. How is the retail business holding up here in Cyprus? Any advice much appreciated.

Justin


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## Veronica (Apr 5, 2008)

dusty321 said:


> Hi All
> 
> Just wondered if anyone on here runs a shop or knows of anyone who runs a shop of some sort. We are looking into it as this is what we did in the UK. How is the retail business holding up here in Cyprus? Any advice much appreciated.
> 
> Justin


Hi Justin,
A word of caution here. We see new shops opening all the time and then closing within a few months.
You need to do some serious research into where there is a need for a particular type of business. Maybe a niche market that isnt covered.

Veronica


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## dusty321 (Feb 12, 2009)

Pretty much the same in the UK. We have experience in retail. Having owned 5 Pound Shops, One multi price discount store and one Toy shop all at the same time. It seems to me if your even thinking of retail, Limissol would be favorite. What do you think?


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## Veronica (Apr 5, 2008)

I think you would need someone in Limassol to answer that one.
I certainly would not recommend opening any sort of shop in Paphos at the moment


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## steveg63 (Sep 5, 2010)

Veronica, having only been on holiday in Paphos we dont seem to see how bad you portray the situation over there, is it really as bad as it is reading, if so is there anything be done to try and remidy this?

Steve


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## Veronica (Apr 5, 2008)

steveg63 said:


> Veronica, having only been on holiday in Paphos we dont seem to see how bad you portray the situation over there, is it really as bad as it is reading, if so is there anything be done to try and remidy this?
> 
> Steve


I wouldnt say the situation is really bad Steve. I think the problem is that so many have opened shops that there just isnt a call for.
Everyone thinks a shop will be a good business but a population can only support so many shops.
It dosnt matter where you are no population can support an infinate number of similar businesses.
My advice is anyone wanting to open a shop needs to research thoroughly to find a niche market that is not catered for adequately.


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## steveg63 (Sep 5, 2010)

Veronica said:


> I wouldnt say the situation is really bad Steve. I think the problem is that so many have opened shops that there just isnt a call for.
> Everyone thinks a shop will be a good business but a population can only support so many shops.
> It dosnt matter where you are no population can support an infinate number of similar businesses.
> My advice is anyone wanting to open a shop needs to research thoroughly to find a niche market that is not catered for adequately.


Good advice in any business.

Steve:eyebrows:


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## zin (Oct 28, 2010)

A few pound shops opened up in Limassol a few years back. Most, if not all have shut down as far as I can see. 

There's one main toy shop in Limassol (Jumbo), they pretty much own that market as they are huge.

Problem with niche in Cyprus is that within 2 years everyone has copied you and you are no longer niche.

Nicosia has the largest population so opening up a shop there may be better but Limassol is also a good choice. People complain about the high priced clothing brands out there and tend to fly out to the UK for shopping twice a year so that's something else to consider.


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