Coffee chain Cofix already undercut coffee prices nationwide by offering rock-bottom prices, and now the company has launched its first venture into alcoholic bartending as well. On Monday, the franchise inaugurated its first Cofix Bar, situated on Lilienblum Street in Tel Aviv, offering a wide selection of alcoholic beverages for just five shekels ($1.43.) The Cofix Bar provides more space to customers than normal Cofix chain stores, including places to sit. Hundreds of customers popped in to check out the new store on its opening day. It will be open every day from 5 p.m. to 2 a.m., and its menu is surprisingly rich. Even nonalcoholic beverages such as orange juice, soda and energy drinks are available for just five shekels. The bar also offers up a variety of snacks including green olives, roasted peanuts, crunchy coated peanuts and pretzels. Two snacks on the side will cost five shekels. Avi Katz, who founded Cofix, explained his winning formula to Israel Hayom on Monday -- a formula that has allowed his stores to sell an entire menu at a price almost unmatched by other chains its size. "We can offer these items because I managed to open the pub right next to a regular Cofix," Katz said. "That allowed me to sell alcohol at a lower price. I found an ingenious method to cut costs -- Cofix takes care of overhead during the day, so the bar functions at night without expenditures. A glass of wine on average costs two shekels ($0.57) and a beer costs us about 2.5 shekels ($0.72). Our profits are 100 percent. Clearly, it was harder for us to offer such prices because of the [higher] taxes on alcohol, but the reality proves we were successful." The company plans to open some 10 bar-cafes by the end of the year, Katz said.
Credit: Kobi Meiri
The signature five-shekel price tag includes items such as beer, vodka (Absolut, Grey Goose), whisky (Johnnie Walker Red Label, Ballantine's) and liqueur (Fidg fig liqueur, Choya plum liqueur), tequila, Ashkelon arak, Barkan red and white wine and, of course, sparkling wine.
Discount coffee chain Cofix opens bar in Tel Aviv
New bar to offer wide variety of alcoholic beverages at cafe chain's signature 5-shekel price tag • Founder Avi Katz says the cafe's daytime sales cover the bar's nighttime overhead • Our profits are still 100 percent, boasts franchise founder.
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