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| Duck Pond Market for SALE ? https://www.paphospeople.com/ppforum/viewtopic.php?f=2&t=32353 |
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| Author: | Topgun [ Fri Mar 10, 2017 8:58 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Quote: No guesses as to who will be paying for this dead asset on the buyers books for many years to come. That sounds familiar, the present owners wouldn't be Developers by any chance? |
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| Author: | Neil [ Fri Mar 10, 2017 3:51 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Navwoman wrote: So €50K has been turned down. It is the stall holders that attract the customers and they're a cheerful bunch of people so can only guess that the rental of the place must be quite high. Well, I'll put my hat into the ring and suggest €72K. -2k and your there.. the thing is there is no written contract that goes with it ... 
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| Author: | Josef K [ Fri Mar 10, 2017 4:51 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
I accept what you say about goodwill George. However, the fact is that any or all of the stallholders could walk at any time, leaving an empty market. This is unlikely to happen but it does emphasise the transitory nature of markets here in Cyprus. There is no contract or lease between a market organiser and individual stalls. A stallholder has security of tenure lasting just as long as it takes to pack up the stall, and the market organiser only has a market if the stallholders turn up. I would suggest any goodwill in this situation would be "owned" by the stallholders. I recall another market that no longer exists was bought by someone who told the stall holders that the market would henceforth be open most of the week, rather than the one day as existed. The stallholders said no, they were happy with one day per week. They left, the market closed, and the individual lost all their money (rumoured to be over 50k). |
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| Author: | George [ Fri Mar 10, 2017 9:20 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
JK, goodwill in accounting is not the same as in everyday language. It's simply the difference betwen the value of the tangible assets such as plant, machinery, vehicles etc, and the price a buyer is prepared to pay for a business as a going concern. Goodwill in the sense of normal language use bears no resemblance really to the technical accounting meaning of goodwill. It's veryclear that traders can come and go, which makes the apparent asking price of the 'business' appear even more silly. The goodwill sitting in the balance sheet after purchase will need to be either written off immediately, meaning the buyer has virtually nothing to show for his purchase if it folded immediately - as there are I suspect few tangible assets - or written off quite speedily, as I suggested earlier at say 20% per annum. Either way it's a huge sum of money to be recouped from a small twice weekly market. Incidentally, roughly how many stalls are there at the market, and is the replacement bacon butty enterprise another stall holder or is it run by the owners? I'd love to have a look at the last years accounts of the business. I wonder if the person offering the €50k saw the books?? |
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| Author: | Josef K [ Sat Mar 11, 2017 6:36 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Ah I see. Clearly you know more about accounting than me (which isn't difficult). |
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| Author: | Effsie [ Sat Mar 11, 2017 8:00 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Goodwill is defined as an intangible asset that arises as a result of the acquisition of one company by another for a premium value. The value of a company’s brand name, solid customer base, good customer relations, good employee relations and any patents or proprietary technology represent goodwill. Goodwill is considered an intangible asset because it is not a physical asset like buildings or equipment. Given the various comments above, that would seem to suggest that virtually the entire asking price is goodwill! Given that it would seem that the value in the market is with the stallholders which the operators of the market cannot directly control, it would be interesting to see how they arrive at their figures. |
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| Author: | George [ Sat Mar 11, 2017 8:49 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
JK, I am a Certified Accountant, so guess I should! 
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| Author: | Neil [ Sun Mar 12, 2017 12:56 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
George wrote: JK, I am a Certified Accountant, so guess I should! most definitley Certified ... lol. lol. lol ... 
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| Author: | George [ Sun Mar 12, 2017 1:53 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
You can go off people you know!! 
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| Author: | Neil [ Sun Mar 12, 2017 1:34 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
George wrote: You can go off people you know!! 
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| Author: | Uncle D [ Sun Mar 12, 2017 2:24 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
I would rather invest 70K of my money, in a shed, in London |
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| Author: | George [ Sun Mar 12, 2017 3:05 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
"I would rather invest 70K of my money, in a shed, in London" Couldn't agree more. |
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| Author: | Navwoman [ Sun Mar 19, 2017 1:47 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Neil posted: What would you guess the asking price for the market is ?? I already know .. Free bacon roll and hot drink for the person that gets the nearest.. ++++++++++++++++++++++++++++++++++++++++++++++++++ Just to say 'Thank You' to gentleman Neil and his lady wife for the scrumptious bacon roll earlier today. Good to see so many people at Neil's Corner Cafe this morning. |
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| Author: | Neil [ Sun Mar 19, 2017 3:37 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Navwoman wrote: Neil posted: What would you guess the asking price for the market is ?? I already know .. Free bacon roll and hot drink for the person that gets the nearest.. ++++++++++++++++++++++++++++++++++++++++++++++++++ Just to say 'Thank You' to gentleman Neil and his lady wife for the scrumptious bacon roll earlier today. Good to see so many people at Neil's Corner Cafe this morning. You are more than welcome  ..yes we are very busy now , thanks to all our loyal customers who stood by us.. 
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| Author: | M.A.D [ Sun Mar 19, 2017 7:28 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
You need to do these  Attachment: Bacon.jpg
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| Author: | shania [ Mon Mar 20, 2017 8:26 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Yesterday the Duck Pond was heaving. Busiest I have seen it for a long time. Had a lovely egg and sausage bun at Niels cafe. Nice place you have there Neil. |
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| Author: | Uncle D [ Tue Apr 18, 2017 9:06 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
I dont suppose that has sold yet |
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| Author: | Wavy Dave [ Tue Apr 18, 2017 12:22 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Uncle D wrote: I dont suppose that has sold yet Reason for your question? I do wonder why you ask the question, unless you are interested in buying or stirring it? Does it matter if sold or not? The stallholders will still be there if it is sold or not. Do you really want to destroy the goodwill that has been built up over a period of years by the permanent stallholders there, as your previous postings about "buying a shed" appear to highlight. Sometimes, I feel that people like you only want to destroy what others have built up, perhaps because of jealousy from you that you don't have the capabilities to do the same. Why don't you confront the current owners if you have a problem, as your original question and your previous invidious comment suggests? |
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| Author: | Uncle D [ Tue Apr 18, 2017 1:32 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Wavy Dave wrote: Uncle D wrote: I dont suppose that has sold yet Reason for your question? I do wonder why you ask the question, unless you are interested in buying or stirring it? Does it matter if sold or not? The stallholders will still be there if it is sold or not. Do you really want to destroy the goodwill that has been built up over a period of years by the permanent stallholders there, as your previous postings about "buying a shed" appear to highlight. Sometimes, I feel that people like you only want to destroy what others have built up, perhaps because of jealousy from you that you don't have the capabilities to do the same. Why don't you confront the current owners if you have a problem, as your original question and your previous invidious comment suggests? I was just wondering |
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| Author: | Wavy Dave [ Tue Apr 18, 2017 1:54 pm ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Uncle D wrote: Wavy Dave wrote: Uncle D wrote: I dont suppose that has sold yet Reason for your question? I do wonder why you ask the question, unless you are interested in buying or stirring it? Does it matter if sold or not? The stallholders will still be there if it is sold or not. Do you really want to destroy the goodwill that has been built up over a period of years by the permanent stallholders there, as your previous postings about "buying a shed" appear to highlight. Sometimes, I feel that people like you only want to destroy what others have built up, perhaps because of jealousy from you that you don't have the capabilities to do the same. Why don't you confront the current owners if you have a problem, as your original question and your previous invidious comment suggests? I was just wondering Really?? |
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| Author: | Bassman63 [ Wed Apr 19, 2017 1:36 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
All very sad because the two places where PP members were able to meet me (with The Prince having already gone and now the Duck Pond) will it appears soon be no more. Maybe Neil can arrange an "Audience With" later. |
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| Author: | Wavy Dave [ Wed Apr 19, 2017 7:26 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Bassman, the Duck Pond will NOT be going. The current owners of the lease are selling that. The stallholders will still be there. Hope that clarifies the matter once and for all. |
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| Author: | Bassman63 [ Wed Apr 19, 2017 10:07 am ] |
| Post subject: | Re: Duck Pond Market for SALE ? |
Wavy Dave wrote: Bassman, the Duck Pond will NOT be going. The current owners of the lease are selling that. The stallholders will still be there. Hope that clarifies the matter once anf for all. Sincerely hope I'm wrong Dave and hope to see you there in June. |
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