Buying a Bar Costa Del Sol

[Pfavero]

Hello to all,

I am new in this forum so please forgive me should I ask silly questions.

We are a married couple living in Italy and have decided to move to Costa Del Sol to buy a small bar and run it on our own.
I am amazed at the number of bars for sale ?? does this depend on global cris? or is it just a matter of competition.
The price range to buy a small bar of approx 30 mq is in the range of € 25.000,00 and this seems much lower than what it would cost to buy one on the coast in Italy.
Does anyone have an idea of what kind of turnover these small bars are making?
If there someone who has taken the same decision?
All the help and information you can all give me will help us.
Thank you

Paola and Maurizio

[playamonte]

Originally Posted by Pfavero

Hello to all,

I am new in this forum so please forgive me should I ask silly questions.

We are a married couple living in Italy and have decided to move to Costa Del Sol to buy a small bar and run it on our own.
I am amazed at the number of bars for sale ?? does this depend on global cris? or is it just a matter of competition.
The price range to buy a small bar of approx 30 mq is in the range of € 25.000,00 and this seems much lower than what it would cost to buy one on the coast in Italy.
Does anyone have an idea of what kind of turnover these small bars are making?
If there someone who has taken the same decision?
All the help and information you can all give me will help us.
Thank you

Paola and Maurizio

Hello Paola & welcome.
The general advice is to give me the money as you you are far more likely to get something back than putting any of your hard earned money into a bar on the CDS.

My apologies for seeming a tad negative.

[jojo]

Originally Posted by Pfavero

Hello to all,

I am new in this forum so please forgive me should I ask silly questions.

We are a married couple living in Italy and have decided to move to Costa Del Sol to buy a small bar and run it on our own.
I am amazed at the number of bars for sale ?? does this depend on global cris? or is it just a matter of competition.
The price range to buy a small bar of approx 30 mq is in the range of € 25.000,00 and this seems much lower than what it would cost to buy one on the coast in Italy.
Does anyone have an idea of what kind of turnover these small bars are making?
If there someone who has taken the same decision?
All the help and information you can all give me will help us.
Thank you

Paola and Maurizio

There are so many bars for sale cos people are going bust. The turnover in most of the small bars isnt enough to pay even the overheads, let alone a wage. We were talking about this very subject tonight cos I was with a lady who luckily managed to sell her bar three years ago at a loss, but she was grateful that she sold it at all! Her words were "dont do it, its a mugs game!" This is a lady who apparently ran a very successful bar in the Canary Islands for many years, before having the hairbrain scheme of moving to the mainland - a decision she's lived to regret I think!!!


jo xxx

[littleredrooster]

Originally Posted by Pfavero

If there someone who has taken the same decision?
Paola and Maurizio

Many,many thousands the vast majority of whom have bitterly regretted it.

To be fair there are also success stories, but they are mostly very few and far between.
There is a huge amount of costly red tape to negotiate before you can even begin, after which it is lots of hard work, long hours, patience and dedication, usually for very little reward or more likely than not hefty losses.

Welcome aboard anyway and the best of luck with whatever you decide.

Personally I would rather spend the money on lottery tickets.
Probably more chance of success and more fun without the never ending work and hassle.
Sorry to sound like a damp squib, but best you're aware of the risks and pitfalls rather than jump in the deep end with your eyes closed.
Expect you'll get plenty more similar advice, but most of it is well meant.

[xabiachica]

I'm not on the cds but I think every bar I know is for sale!!

if not actively 'on the market' then the owners would certainly entertaina sensible offer

I know a Valencian born & bred family here who had tons & tons of experience who opened a bar a couple of years ago - shut it at the end of the 1st summer season before they lost everything - as it was they pretty much broke even - but lost a whole summer really cos they were working 18 hours a day!

[Alcalaina]

I wish someone would open a pasteleria/heladeria (cakes and ice cream) in my town. Or a lounge bar with comfy seats, soft music and no TV.

It is a typical Spanish town (away from the coast) and we have plenty of bars but they are all pretty spartan and very noisy.

A good business opportunity for someone!

[DunWorkin]

Our local bar is for sale but it shows what a difference in price there is for a successful bar with virtually no competition. It is on the market for €220,000.

If I was 30 years younger and looking for a business I would certainly consider it. Most bars, of course, do have competition and are struggling.

[Stravinsky]

Originally Posted by DunWorkin

If I was 30 years younger and looking for a business I would certainly consider it. Most bars, of course, do have competition and are struggling.

No you wouldn't ...... you're dun working

[xabiachica]

Originally Posted by DunWorkin

Our local bar is for sale but it shows what a difference in price there is for a successful bar with virtually no competition. It is on the market for €220,000.

If I was 30 years younger and looking for a business I would certainly consider it. Most bars, of course, do have competition and are struggling.

we have a bar here which is on its 3rd owners since we've been in spain - the first two didn't make a go of it - this owner has turned it right around - it's a really busy, popular family bar - lots of different entertainment going on all the time

but they have had enough - the long long hours have taken their toll - no point having a successful business if you have no life

[Stravinsky]

Originally Posted by xabiachica

no point having a successful business if you have no life

Oh sod it! Thats where I went wrong then!