We, are currently looking into the prospect of leasing a bar in Spain. I am hoping to get voluntary redundancy from work in a couple of months so will have a total move capital of ?40K which will have to include the move, renting a 2 bed apartment, leasing a bar etc.
I really don’t want my hard earned money to go to waste as I have heard alot of bars are closing in Spain (same as the UK!!) I have always wanted to live abroad, and I am not niave in thinking that its not hard work. I know it will be and am more than willing to put the effort in to ensure that we run a successful profitable business, so are looking for a bar that has a great winter trade too. The bar will need to make enough money to keep myself, my husband and our 13 year old son.
The only thing is, I don’t know where in Spain is best - I am thinking of possibly Fuengirola. So if anyone living in the area can give me some much needed advice I would be extremely grateful - having done some very basic prelimary research there seem to be some great leases going for as little at ?8K with rental of around ?750 per month!!
Well I am not sure were to look for a bar in Spain but I am sure theres Lots… Just becareful with your money as there is lots of Expats that will take it from you…
Do you have anywhere in Mind… alot of people at the moment are heading over to the Canary Islands or Malaga as the prices of some Bars/Cafes have come down and there wading out the Crisis until the boom starts again…
If Santi is around he may Be the best person to speak to… I buzz him a msg to post here some info..
I was thinking of Fuengirola, Benalmadina, or maybe even bendiorm as those resort are not just seasonal.
I have come across a number of leases and the bars do look good value (so long as I can make it work)
I just dont want to go into this with my eyes closed, its the only money I will ever have in my life and therefore dont want to flush it down the loo!!
I have been to Lanzarote for the past 5 years and was initially thinking of buying a lease there, however they seem to be in a very dire state at the moment due to the price of the Euro against the ?, and bars are closing by the second - not sure if this is the same in tenerfie though!!
Any advice would be gratefully recieved as I said I don;t want to waste my money!!
Your right about Lanzarote… My Auntie is there Manager of Spa at 5 star hotel… All she does is Twiddle her thumbs all day!
There is an upside to lanzarote… the crisis there is this year only and next year it kick off again… There is plenty of places to rent in Playa Blanca and surrounding areas… Apparently a villa 4 bedroom with pool is now ?400 Bills included… If you strike a 2 year deal with them it covers you..
As I said alot of peeps are biding there time… out here as There hoping La Crisis will pass..
I messaged santi… see what he knows you never know he is straight to the point kinda guy…
There is an upside to lanzarote… the crisis there is this year only and next year it kick off again… There is plenty of places to rent in Playa Blanca and surrounding areas… Apparently a villa 4 bedroom with pool is now ?400 Bills included… If you strike a 2 year deal with them it covers you..
Mac
WOW! That seems a good deal and I do prefer Lanza but having been there for last 5 years for month at a time and got to know loads of expats, they are all selling up and coming home!!
days off making a living out the pub trade are gone , 1 you need tourist , 2 need people with money 3 key money 4 pub that can tell you the turth about there books , not made up ones
Years ago the Uk tourist would come to spain to have good 2 weeks with the GBP gone to Sh1te that has made the price hight , extpat that shipping back to Uk as there Pensioners only worth 1/3 less then last year , GBP rate of 1.50
Currently that site has 52,000 businesses for sale in Spain, around 500 misc restaurant’s included.
That signals warning bells, people in economic slow downs only sell a once profitable business because it`s losing cash. Don`t be led into a trap on the bases last few years books were good.
This is some advice I gave some Spanish friends and there seriously lookin into it.
There is a market in Spain for food, not restaurant’s, Spain is full to bursting with bars.
My “great” idea would be Pork in the Feria`s.
If anybody spends any time in these places you`ll notice that Jamon is popular, same as churro`s and sweets. All the feria`s around Spain have little Caseta`s that you sit, drink and eat a plate of Jamon.
Now if you compare the UK certain businesses have started to spring up sell “Hog Roast”, a big juicy pig on a spit roast.
Now try to find these in Spain, the country that loves to eat Pork.
Santi good links for got to do that awell but , make sure there no Death on the Bar you buy as you take them over aswell ......
jurdy
How`s the head.
The other piece of advice about debt is also that if you rent the business beware and look into the viability of the owner of the lease and the building.
You wouldn`t want to build a great business to then have the landlord evict you, it has happened.
A few business men exist hoping some naive expat will do all the hard graft and then take it over.
Also beware Mafia style gangs, lunatics and the Policia, profitable bars can and are targetted.
If your gonna take on a bar be prepared to use violence to keep it.
Trust me, you walk into a successful bar and try to rob it, if you manage too, look out, a lot of successful bar/nightclub owners are well connected to people who can clean up some nasty situations.
Seriously there are two types of bar owners in most resorts, the successful ones have been in the game a long time and can deal with all kinds of punters, the others end up broke.
Santi good links for got to do that awell but , make sure there no Death on the Bar you buy as you take them over aswell ......
jurdy
How`s the head.
The other piece of advice about debt is also that if you rent the business beware and look into the viability of the owner of the lease and the building.
You wouldn`t want to build a great business to then have the landlord evict you, it has happened.
A few business men exist hoping some naive expat will do all the hard graft and then take it over.
Also beware Mafia style gangs, lunatics and the Policia, profitable bars can and are targetted.
If your gonna take on a bar be prepared to use violence to keep it.
Trust me, you walk into a successful bar and try to rob it, if you manage too, look out, a lot of successful bar/nightclub owners are well connected to people who can clean up some nasty situations.
Seriously there are two types of bar owners in most resorts, the successful ones have been in the game a long time and can deal with all kinds of punters, the others end up broke.
This is so correct… As I am looking to rent a Apartment in the south of Spain you can ask Estate Agent for a signed declaration that the Landlord/LandLady is Finacially secure at time of renting to end of lease… If it so happens there not at any time of your contract… You get lost money and free service to find yourself another apartment free of Charge,...
However not sure if the above is available for Business lets…. ?
Always check as there are people going bust and will try there best to make fast money…
Lads wish was the head , but the back ...... upper , with lot pain and sore
Santi your coming up with lot good pointers there
i have seen a rent a crowed been brought in to make pub lot more busy when buyer are around , so try ask around , and even try to get the night befor and take a look
Lanzarote . A chines take up for sale in 2003/4 for 250,000 euros sold to 2 guys who ran up few bills and sold for cool 25,000 euros ( dont know what happen ) the guys tock over then sold 4 years later , at cool 125,000 Euros . Now prices are just key money rent was 1000 euros per month , ask mate who pasted few time told me place again closed up again , pub game in the islands is dead why drink habits are change as people are drink befor that go out and drink not lot now , god the irish have change with drinking befor go out in last few year . think you have better luck open an Spanish bar in tourist area , as there none around
Price you see are what call key money , It sometimes means money paid to an existing tenant who assigns a lease to a new tenant where the rent is below market. It sometimes means a bribe to a landlord. In other parts of the world it is used synonymously with normal security deposits, which are used to cover nonpayment of rent and excessive damage to a rental unit . in spain you payying the last tenant money for his business that have built up , then you pay the yearly Lease (montly rent )
Now include your Water , Rates , Bins , Power , Public insurance , Workers insurance , Town hall license(s) more thwn few , Wages and taxes and last your stock Forgot to add you tv Pay tv ie Sports tv channels that any think from 400 euros two 1000 euros per year frist year have buy the tvs and Sats , music systems .... light and so on
Now add all them up and see what you going two make as profite
Simple fact of the matter is that no-one in their right mind should even consider starting up any business here in these present times.
Because its sure as hell that some TV production company or the BBC/ITV will be along in six months time showing how it all went wrong…and how the hopeful dreamer is now saddled with a business he cannot sell at any price, and probably with a mortgage he cannot pay?
Spain forums are full of stories about failed businesses and the Brit media companies just love pointing out the error of their ways, yes and gloating about it too…makes for good TV?
Very few Brit organised/owned businesses make it through the first year; the Spanish people as a whole tend to stick to Spanish tradesmen/shops/bars and the Brit user of such businesses is only too aware that there are a lot of sharks around among the Brit fraternity. I for one have given up using Brit tradespeople having been severely seen off on more than one occasion by false promises about standards/delivery/completion dates/quality. It?s one thing being ripped off by a Spaniard, quite another being ripped off by a Brit.
Apologies for the rehash but experience shows that you always need at least twice as much as you originally budgetted for. Under- financing leads to being just another statistic…
We, are currently looking into the prospect of leasing a bar in Spain. I am hoping to get voluntary redundancy from work in a couple of months so will have a total move capital of ?40K which will have to include the move, renting a 2 bed apartment, leasing a bar etc.
I really don’t want my hard earned money to go to waste as I have heard alot of bars are closing in Spain (same as the UK!!) I have always wanted to live abroad, and I am not niave in thinking that its not hard work. I know it will be and am more than willing to put the effort in to ensure that we run a successful profitable business, so are looking for a bar that has a great winter trade too. The bar will need to make enough money to keep myself, my husband and our 13 year old son.
The only thing is, I don’t know where in Spain is best - I am thinking of possibly Fuengirola. So if anyone living in the area can give me some much needed advice I would be extremely grateful - having done some very basic prelimary research there seem to be some great leases going for as little at ?8K with rental of around ?750 per month!!
PLEASE HELP!!
The best help i can give you is to say DONT DO IT.
SORRY i know you dont want to hear it but the likely hood of you being successful is very slim and loads of bars are closing at a rate of knots every week. Its far from easy too. Do you fancy being stuck in a red hot busy kitchen for up to 16 hours a day sometimes more? 7 days a week? Getting bored, drinking the profits and going bust?
(sorry to be negative, but PLEASE listen to the people who are dissuading you!).
Not my idea of moving to spain to enjoy the good life? and i doubt if it would be yours.
MOST bars, probably about 90% FAIL within the 1st year , i would not wish the pain and heartache on you.
[/quote]
The best help i can give you is to say DONT DO IT.
SORRY i know you dont want to hear it but the likely hood of you being successful is very slim and loads of bars are closing at a rate of knots every week. Its far from easy too. Do you fancy being stuck in a red hot busy kitchen for up to 16 hours a day sometimes more? 7 days a week? Getting bored, drinking the profits and going bust?
(sorry to be negative, but PLEASE listen to the people who are dissuading you!).
Not my idea of moving to spain to enjoy the good life? and i doubt if it would be yours.
MOST bars, probably about 90% FAIL within the 1st year , i would not wish the pain and heartache on you.
:([/quote]
Erm not being picky etc but are you not doing the same moving to Spain with your business etc….
Bar Business all the same… bit contradictive to yourself being that you want to move here? ?.I am not picking bones!
As Bars are closing and Construction stopped etc (Construction is obviously kind of your Business except that you sell paint or what ever)
