Ted Snare and his wife Natalie will forego a day's takings at the Centrespot cafe at 132 Macquarie Street to pay their respects to the late Anthony "Tony" Panaretos, who sold them the business in mid-2012 after running it with wife Helen for 35 years.

The couple's gratitude and admiration for Mr Panaretos stems from the generosity and goodwill he showed them across the almost nine years they have served customers at the cafe.

"I'll tell you something," Mr Snare said on Thursday.

"One thing I did teach him in his later years...it's only money."

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Mr Snare, who started his business career in his father's Tamworth Street newsagency when he was 11 years old, considers Mr Panaretos to have been one of his "mentors".

The Centrespot was the Snares first venture into the cafe industry but they were not left to discover its vagaries on their own.

"He always had a ear out, always came in, wanted to know how business was, how we were trading," Mr Snare said.

"In the early years he was in two or three times a week.

"He was so good to us, mentored us in this business and we were extremely fortunate to have the greatest landlord that anyone could ever want.

"He was super, super fair with everything to do with contractual arrangements, leases.

"He was just an absolute gentleman and an absolute icon in Macquarie Street Dubbo."

Mr Panaretos' visits to his old stamping ground also allowed him to catch up with customers and "friends down the street".

"He was a great bloke, easy to talk to, funny, always had a smile, always had something to say and loved his football," Mr Snare said.

The current owner of the Centrespot said from humble beginnings in Greece, the savvy businessman had built a business and property portfolio across his lifetime.

"His legacy is hard work and determination," Mr Snare said.

Mr Panaretos died on March 16 at the age of 83.

His funeral service will be held in the Greek Orthodox Church on Friday, March 26, from 11am, followed by burial at the New Dubbo Cemetery.

He is survived by wife Helen, three children and seven grandchildren.

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