Buying a bar
#1
Buying a bar
Hi.
myself and my son are buying the lease on a bar in torrevieja.
We have had a pre contract drawn up and need to pay a deposit.
We are afraid this maybe a scam.
Can anyone please please advise or help.
If it is real then it's perfect and we dont want to lose out.
Thanks
myself and my son are buying the lease on a bar in torrevieja.
We have had a pre contract drawn up and need to pay a deposit.
We are afraid this maybe a scam.
Can anyone please please advise or help.
If it is real then it's perfect and we dont want to lose out.
Thanks
#2
BE Enthusiast
Joined: Jun 2011
Location: Gibraltar
Posts: 396
Re: Buying a bar
Not sure how anyone in possession of those facts alone can answer that ...my instincts tell me to tell you there is one type of person who can advise you well and that would be a lawyer with first hand knowledge of the contract and what's on offer
#3
Re: Buying a bar
Hi.
myself and my son are buying the lease on a bar in torrevieja.
We have had a pre contract drawn up and need to pay a deposit.
We are afraid this maybe a scam.
Can anyone please please advise or help.
If it is real then it's perfect and we dont want to lose out.
Thanks
myself and my son are buying the lease on a bar in torrevieja.
We have had a pre contract drawn up and need to pay a deposit.
We are afraid this maybe a scam.
Can anyone please please advise or help.
If it is real then it's perfect and we dont want to lose out.
Thanks
#4
Re: Buying a bar
Simple answer - don’t buy a bar.
It has come up so many times on this forum over the last ten years or more and to my knowledge no one has ever made any money out of it.
Basically, any bar that is for sale is because the previous owners couldn’t make a success of it. The good bars rarely come up for sale.
Proceed with extreme caution.
It has come up so many times on this forum over the last ten years or more and to my knowledge no one has ever made any money out of it.
Basically, any bar that is for sale is because the previous owners couldn’t make a success of it. The good bars rarely come up for sale.
Proceed with extreme caution.
#5
BE Forum Addict
Joined: Jun 2005
Posts: 1,273
Re: Buying a bar
Afraid this is another negative reply.
The only one making any money out of most "Brit" type bars is the person owning the freehold, who re- sells the lease every few months to yet another naive customer hoping to live their dream of running a bar in Spain.
The only one making any money out of most "Brit" type bars is the person owning the freehold, who re- sells the lease every few months to yet another naive customer hoping to live their dream of running a bar in Spain.
#7
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,142
Re: Buying a bar
I lived in Torrevieja for many years - my advice is - don't.
Unless you want to lose your money - if so donate it to charity it will do more good.
Unless you want to lose your money - if so donate it to charity it will do more good.
#9
Re: Buying a bar
Maybe, but they don’t usually.
Hopefully after a barrage of negatives they will change their minds.
Hopefully after a barrage of negatives they will change their minds.
#11
Re: Buying a bar
The OP will have read the replies and dismissed them because their bar is unique/gold mine/can't fail.
#12
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,142
Re: Buying a bar
I knew a Brit who had a grotty little bar in Orihuela Costa. He used to sit on a barstool customer side drinking the stock whilst he paid a barman to work but there were very few customers....guess what happened - the business model didn't work...
Another couple of friends who were professional hospitality people worked very hard in their bar (Vera near Mojacar) but that closed because they didn't have a kitchen to do any food and the terrace was too small.
There was an article in El Pais the other day about how many bars have closed down in Spain in recent years - things have changed people use them less and spend less apart from the peak weeks in the summer when maybe takings are good. In the meantime, overheads have shot up as has enforcement of kitchen regulations etc.
Another couple of friends who were professional hospitality people worked very hard in their bar (Vera near Mojacar) but that closed because they didn't have a kitchen to do any food and the terrace was too small.
There was an article in El Pais the other day about how many bars have closed down in Spain in recent years - things have changed people use them less and spend less apart from the peak weeks in the summer when maybe takings are good. In the meantime, overheads have shot up as has enforcement of kitchen regulations etc.
#13
Forum Regular
Joined: Dec 2017
Location: Malaga
Posts: 80
Re: Buying a bar
Although the experience was in the 80's I very much doubt things have improved.
People we know bought a bar with a very small kitchen in Fuengirola chasing the bar owning in the sun dream. It cost around GBP90K. Three years later they put it up
for sale and sold it for just under 50K, a week before they were going to close up and walk away. Why.. it was killing them, having to stay open into the small hours to grab whatever passing trade they could, opening up 6 hours later to compete with the nearby "full English breakfast " bars, barely making enough money to cover costs let alone rented accommodation and other living expenses.
Unless a bar is opened with a unique selling point and no competition nearby it is difficult to imagine why these days anybody would want to risk capital outlay to try and "reinvent the wheel".
To the OP, good luck I hope it works out for you and your son.
People we know bought a bar with a very small kitchen in Fuengirola chasing the bar owning in the sun dream. It cost around GBP90K. Three years later they put it up
for sale and sold it for just under 50K, a week before they were going to close up and walk away. Why.. it was killing them, having to stay open into the small hours to grab whatever passing trade they could, opening up 6 hours later to compete with the nearby "full English breakfast " bars, barely making enough money to cover costs let alone rented accommodation and other living expenses.
Unless a bar is opened with a unique selling point and no competition nearby it is difficult to imagine why these days anybody would want to risk capital outlay to try and "reinvent the wheel".
To the OP, good luck I hope it works out for you and your son.
#14
Re: Buying a bar
Drinking habits have changed dramatically over the last two or three decades. My base is South Wales UK and the local town is a 'one horse town' but while several pubs have shut for good we now have three coffee shops, a bar owned by a local micro brewery, a craft beer bar and more recently a wine/cocktails bar. People don't just pop down the pub for a few beers, they want food much of the time and this is true of Spain I think. On top of that you have the rise of the all inclusive holiday which is a godsend for families and couples alike but not good for local bars.
#15
Re: Buying a bar
Drinking habits have changed dramatically over the last two or three decades. My base is South Wales UK and the local town is a 'one horse town' but while several pubs have shut for good we now have three coffee shops, a bar owned by a local micro brewery, a craft beer bar and more recently a wine/cocktails bar. People don't just pop down the pub for a few beers, they want food much of the time and this is true of Spain I think. On top of that you have the rise of the all inclusive holiday which is a godsend for families and couples alike but not good for local bars.
Just leave us alone to enjoy our drinks and we will order food if and when we want.