Connect with us

Hi, what are you looking for?

Jewish Business News

Business

New café chain in Israel : Cofix Everything for $1.30

Cofix opened its first branch in Tel Aviv today, and plans 300 branches within three years.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.

6729761041_4f94d50100_b

Cofix Everything for $1.30

/ By Michal Raz-Chaimovich /

A new café chain, Cofix, was launched today on the basis of a new concept: it will sell food and beverages for takeaway without seating or waiters, and all products will be sold for NIS 5 each ($1.30) .
Behind the concept is Avi Katz, who 18 years ago founded Bee Retail Group, the owner of the Dollar Store chain, based on the same concept. Katz, the founder and president of Hagshama Fund, has been joined in Cofix by his daughter, Hagit Shinover, his partner in Hagshama, Benny Farkash, and Adv. Hanan Shemesh.

Cofix inaugurated its first branch on Ibn Gvirol Street in Tel Aviv today, and two more branches will opened in the city, on King George Street and Ha’arba’a Street. Katz and Farkash will own the three branches, which cost NIS 5 million to launch. They have presented an ambitious development plan to initially open 100 branches and to open 300 branches with three years. All the branches will be franchises. Under the plan, the franchisees will not pay a fee. Katz estimates the set-up cost of each branch at NIS 200, 000-300, 000. Cofix will be kosher and closed on weekends.

The NIS 5 menu includes quality Italian coffee, sandwiches, grilled sandwiches, baked goods, cookies, chopped fruits, energy bars, beverages in 330-ml cans from Central Bottling Company Ltd. (Coca-Cola Israel), and squeezed orange and carrot juice.

“We are not an alternative for people seeking to sit at a café in a mall. We’re bringing good news in the takeaway sector for working people looking for a coffee for the road, ” says Katz.

The new enterprise is intended to compete against convenience stores that offer similar products for the road, and café chains.

“Globes”: Is this a social venture or is there business potential?

Katz: “The public’s feeling that the cost of living has risen unjustly is correct. Prices have fallen in every category – fashion, computers; why not food? Because the food industry is dominated by cartels, and the other half is controlled by malls. It’s a fixed game by the big players, and there is little competition. A few distributors dictate prices for consumers, who now pay more for no reason.”

How have you promised to maintain the price?
“This is a realistic price, and it enables us to make a nice profit. Our idea is to sell more for less, not to sell a little at a high price.”
Published by www.globes-online.com

 

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.