buying a leasehold bar but still in uk
#46
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Joined: Sep 2011
Location: England and Gran Canaria mostly
Posts: 153
Re: buying a leasehold bar but still in uk
I've been over 8-10 times, love the place. Its the type of place where you can live as cheaply or expensively as your taste or budget dictate. I was seriously ill and my recovery has been long and slow but if all goes well I'd like to live out there for half the year in a rented apartment or maybe a bungalow. PM me if you have any letting agent details.
#47
Re: buying a leasehold bar but still in uk
I've been over 8-10 times, love the place. Its the type of place where you can live as cheaply or expensively as your taste or budget dictate. I was seriously ill and my recovery has been long and slow but if all goes well I'd like to live out there for half the year in a rented apartment or maybe a bungalow. PM me if you have any letting agent details.
#48
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Joined: Jan 2012
Posts: 13
Re: buying a leasehold bar but still in uk
well thanks to everyone,it all seems negative though,has anyone got anything positive to say because if not it sounds like a no no
#49
Re: buying a leasehold bar but still in uk
Add up your monthly overheads - rent, electricity, autonomo, water, basura, ice, car costs, anything else you can think of. multiply it by 2.5 - that is the turnover you need to achieve to survive (not make money). How many tubos do you need to sell per day to achieve that? And ask to see the utility bills - they will amaze you.
#50
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Joined: Aug 2009
Posts: 5,008
Re: buying a leasehold bar but still in uk
Get as much info as possible, as to if they are singles, twos, bigger groups ie familes. Although it seems irrelevant, it could give you and insight into how things could be changed and improved if you decide to buy.
Seating for singles and twos, is not the same for a place catering mainly for families, as more smaller units will be needed so as not to tie up all the tables that accommodate 4 people, with a single diner for example.
What type of food is served, what is the average spend of the customers, if you know all this then you will not have any surprises when opening the doors to trade.
Ask if you can "work" and have access to all areas, for a few weeks, if the place claims to sell lots of meals, take a look at the gas/electric bills, small bills usually show that they are not selling many meals.
If it is a coffee bar that claims to sell loads of coffee, look at the machine, if it is old usually that shows, that they are not very high up in the pecking order for a new or newish machine from the coffee company who supply them.
It means they are not buying much coffee, so cannot be selling much either.
Look at the orders that are being delivered, look at the sell by date on the fruit juices or more exotic drinks on the shelves, if they are old, it shows that they are not selling and when negociating the stock price it gives you something to haggle with.
Look at the kitchen equipment, if they claim to make so many meals/roasts/breakfasts, a day, look at the size of the ovens/fryers/fridge space etc.
Look in the toilets, in lots of cases, if they have small domestic toilet rolls form LIDL or such, it usually does not bode well, one would ecpect to see they larger rolls in an industrial holder.
Look at the hand drying facilities, if the hot air hand drier is unplugged or broken, that is a bad omen.
Dont believe a word they tell you, check for yourself, the more the better.
all this aside from the paperwork, of course, staff levels, there should be records of contracts going back, see if there is more or less staff, look to see if they work more or less hours
I could go on and on
Last edited by JLFS; Jan 10th 2012 at 5:45 pm.
#52
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Joined: Jan 2012
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Re: buying a leasehold bar but still in uk
yes i agree good post jiminato and jlfs some good advice and some we have already asked ,as for the figures we have done the x2.5 and it only fails in feb and march as sugguested,can i ask did you do that when you purchased your bar ? or have you learnt your lessons along the way?
#53
Re: buying a leasehold bar but still in uk
Well sorry. Unfortunately we had mpre than our fair share of hospital and doctor visits and each time and every place, including the Xanit (private) asked for them and took photocopies of them, In fact the surgeries in both Alhaurin de la torre and in Torrequebrada wouldnt let us join without them, I didnt question the reasons why, but could it be that my husband worked in the UK and paid NI there???
Jo xxx
Jo xxx
#54
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Re: buying a leasehold bar but still in uk
?????????? explain further please
#55
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Joined: Aug 2009
Posts: 5,008
Re: buying a leasehold bar but still in uk
yes i agree good post jiminato and jlfs some good advice and some we have already asked ,as for the figures we have done the x2.5 and it only fails in feb and march as sugguested,can i ask did you do that when you purchased your bar ? or have you learnt your lessons along the way?
It depends more on what you are selling and in what proportion of the take is in food, drink.
#56
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Joined: Mar 2010
Location: Spain 4th feb 08 - October 11, now flits batck and forth from sunny Worthing
Posts: 1,576
Re: buying a leasehold bar but still in uk
I dont think so, no one asked for that either???! Just our EHICs. I had a social security number, altho I didnt have that initially and at the time of our last injury (my son broke his arm at school which was covered by their insurance), we used the Xanit - for which they wanted to see and photocopy his passport and............ his EHIC!!!.
Jo xxxx
Jo xxxx
#58
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Joined: Jan 2012
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Re: buying a leasehold bar but still in uk
i realise now sorry
#59
Re: buying a leasehold bar but still in uk
I dont think so, no one asked for that either???! Just our EHICs. I had a social security number, altho I didnt have that initially and at the time of our last injury (my son broke his arm at school which was covered by their insurance), we used the Xanit - for which they wanted to see and photocopy his passport and............ his EHIC!!!.
Jo xxxx
Jo xxxx
#60
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Location: Spain 4th feb 08 - October 11, now flits batck and forth from sunny Worthing
Posts: 1,576