Advice - leasing bar in spain????
 

Sorry if I have put this is in the wrong forum!!

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!!

Re: Advice - leasing bar in spain????
 

Shoot me down in flames but that is nowhere near enough money - unless you are a miracle worker that won´t be enough to purchase a lease let alone anything else. Please also do a search on the forum and read the comments there. Have you thought why they are that cheap to start with??????

Re: Advice - leasing bar in spain????
 

please read this

http://britishexpats.com/forum/showt...a+bar+in+spain

and all the links in the thread

Re: Advice - leasing bar in spain????
 

Best bit of advice you will ever get is to listen to the advice.

Now may not be the best time to go into it.

Visit fuengarola and take a good look round, bars are 2 a penny and closing quickly.

The hours are very long, and the patter by the sales agent and the desparate to sell vendor will make it sound heaven on earth, go in with your eyes wide open, no rose tinted glasses and look for the negatives in equal proportions as the positives, leave your wallet at home and talk to those that are struggling with the dream ie all those vendor with "se vende" signs in the window.

Many may not be looking to return to the UK but know when to get out of a sinking ship.

Re: Advice - leasing bar in spain????
 

Thanks for the advice, this is exactly why I am asking! I don't want to jump in with my eyes closed without doing my research first, but there appear to be a number of 'reputable' websites out there that are selling these leases (are you saying this is not a true reflection?)

These are just a few that I have come across, with numerous more.

http://www.fiestaproperty.com/fuengirola-bars-6.htm
http://spain.businessesforsale.com/s...ion=asc#search
http://www.kingswayestatesspain.co.u...cy=&Leasehold=
http://www.kingswayestatesspain.co.u...cy=&Leasehold=

Re: Advice - leasing bar in spain????
 

Advice - leasing bar in spain....yes dont do it !!!!

Im sad to say many have "been there, done that" and failed :( dont throw your money away, it will be especially hard with no previous experience

I take it you speak Spanish so can deal with all the legalities without any problems, licenses etc

also your 13 year old, are you putting him into International school ? its not the greatest of age to be putting him into Spanish school although not impossible but he could struggle

I know this sounds very negative, just being truthful, sorry :unsure:

Re: Advice - leasing bar in spain????
 

No way ......... just in the Costa del sol, some rejoin the list monthly, in fact they probably don`t even take them out the list.

Google: Resultados 1 - 10 de aproximadamente 41.000 de bars to lease in costa del sol. (0,38 segundos)

Re: Advice - leasing bar in spain????
 

:thumbup:I take its a no no then, especially for costa del sol - my second thoughts were for Lanzarote, there doesn't seem to be as many bars for sale there and they also seem to sell more quickly

Thoughts????

Re: Advice - leasing bar in spain????
 

I don't personally know Lanzarote - but a family I know who live here tried it there a few years ago - came back to the CB within 6 months!


honestly though, it's not a great idea at any time, anywhere in spain unless you have a big financial cushion, tons of experience & can speak the language

right now - it's a really big no no

I know a spanish family from Valencia who leased a bar on the seafront here - extended family to work in it - tons of experience to back them up - bit of a financial cushion - lived in the area & worked in local bars for a year or so to get a feel for things

their bar lasted a year - they didn't go broke - but it simply wasn't worth carrying on - made barely enough to break even over the year - if they'd carried on they reckoned they would have gone into a big loss situation over the winter

and if they can't do it...................................

Re: Advice - leasing bar in spain????
 

Did you read the links that Lynnxa posted ?
I even went and had a look at the bar before those people still bought after disregarding everyones advice on.
I should think it would be worse on the islands to make a living.
Just think about it, if they were any good they would not be for sale.

Re: Advice - leasing bar in spain????
 

I do hope they did:thumbsup:

Re: Advice - leasing bar in spain????
 

Yes I did and I thankyou all very much - probably saved myself alot of money.:o:o:o

Ah well, back to the drawing board then - was just an idea of how I can do something with my redundancy money and escape the rat race of the UK. Looks like I'm staying at work in my horrible job :(:(:(

Re: Advice - leasing bar in spain????
 

Well apart from the money saved you've avoided leaving one rat race for another.
Competition is tough, especially from Spanish bars that normally have much lower overheads.
The work is hard with very long hours and possibly many headaches with documentation etc.
You have taken very good advice, but I hope you do still find a way to get down here eventually and a enjoy a more relaxed lifestyle.
Best of Luck.

Re: Advice - leasing bar in spain????
 

Ideas????:rofl::rofl:

Re: Advice - leasing bar in spain????
 

$64,000(dollar) question.

Business-wise No,....not at present anyway,....more difficult than in the UK unless you come up with something very special.

Maybe worth considering investing in a retirement home, possibly next year when prices bottom out,........could then increase in value as and when Spain comes out of recession.

Once again it can be a minefield so best to take similar advice.