Turabo to pursue expansion

Tudor Dragomir Niculescu, owner of the Turabo coffee shop chain, estimates his event centres will generate turnover worth up to 2.8 million euros, i.e. 20% of the turnover budgeted for 2008.
“In June, we will open our second events centre, TuraboRoyal BallRoom, which will bring a major contribution to the company’s turnover, estimated at 14 million euros for this year,” Tudor Dragomir Niculescu told ZF. The new centre, which covers 600 square metres, and will be able to accommodate 700 people, will be part of a complex that stretches over a one-hectare plot, which will include a terrace restaurant, swimming pool and club, whilst the overall investment is expected to amount to two million euros. “We have to expand and diversify our services, because if we don’t, someone else will, which will be a missed opportunities for us,” Nicolescu believes. Last year, the Turabo Grand BallRoom, which opened in 2005, posted revenues worth 720,000 euros, and accounted for 12% of the company’s overall turnover, which stood at 6 million euros last year, three times higher than in 2006.
Turabo’s growth has attracted the attention of several international restaurant and coffee shop chains, which have put in offers, but so far the sums have not persuaded Nicolaescu to sell.
“I can’t say I haven’t thought about selling. There have been a few offers and I have been involved in talks, but the figures were not acceptable from my point of view,” stated Niculescu.
He adds that the businesses of international chains on the Romanian market account for less than 30% of what Turabo derives.
Until a new offer comes along, Tudor Dragomir Niculescu will continue to expand his coffee shop chain (his first business, which he started 5 years ago), and also focus on other business interests, for which he is still looking for the right location. “I want to open a 5-star hotel, but the biggest problem is finding an adequate location (…),” added Nicolescu.