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Old 16th January 2011, 06:51 PM
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hi all

been thinkin goff comeing abroad for few yrs now spain cyprus algarve

got 15-20000k hopeing to open a bar or cafe
me wife 4 kids aged 13/7/ twins at 3yrs

any info would be great is there a certain area open yr round

thanks

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Old 16th January 2011, 07:14 PM
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Hi and welcome

I am sorry to say my advice as a previous owner in the hospitality sector.. is that you do not have enough money to buy/rent premises- buy stock and all the on going costs,
You will have to pay cash for your stock as you have no credit in Spain.
You need a contingency plan which basically means money in the bank to pay the bills when you are not making any money.

Maiden




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Old 16th January 2011, 07:30 PM
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I have to agree with Maiden.
You do not have nearly enough funds to set up in business and still be able to support a large family.
Many cafes and bars in Cyprus are closing due to the downturn in tourism so to try to set up against established businesses is IMO foolhardy.

Sorry if that sounds harsh but with 4 children it would be a very risky move.

Veronica

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Old 16th January 2011, 08:11 PM
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+ opening a bar or cafe means you will most likely have to pay protection money here if it's a success.

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Old 17th January 2011, 07:52 AM
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Hi

Unfortunately, I agree with everyones comments. The amount of money you have to be honest would just about cover your rent and school fees if sending your children to private schools for only a year and that does not include food and basic living, let alone setting up a new business.

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Old 17th January 2011, 08:57 AM
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Hi

Unfortunately, I agree with everyones comments. The amount of money you have to be honest would just about cover your rent and school fees if sending your children to private schools for only a year and that does not include food and basic living, let alone setting up a new business.
here in Spain it wouldn't even cover that - the older ones would really have to go to International school - that would swallow more than 10K for a start - then rent on somewhere to live - pretty much the same again - & that's without rent on business premises, start up costs etc....................

then day to day living - feeding 6 people - another 5K as a minimum - no treats - no eating out - no new clothes etc...............


any business can't expect to more than break even for at least the first year even in good times - in a recession - who knows?

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Old 17th January 2011, 09:01 AM
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Originally Posted by xabiachica View Post
here in Spain it wouldn't even cover that - the older ones would really have to go to International school - that would swallow more than 10K for a start - then rent on somewhere to live - pretty much the same again - & that's without rent on business premises, start up costs etc....................

then day to day living - feeding 6 people - another 5K as a minimum - no treats - no eating out - no new clothes etc...............


any business can't expect to more than break even for at least the first year even in good times - in a recession - who knows?
Same here. The older child at the very least would need to go to the international school at 7.000+ euros per year. The 7 year old would also find it hard to integrate into local schools so would also probably need to go to the international school, so that is 14+K before you start with anything else.
My advice, stay where you are.

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Old 17th January 2011, 09:04 AM
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A friend of mine who opened a cafe (inland Spain away from the expensive tourist area) had to pay 25,000€ "key money" simply to open the business - that was before paying rent, bills, pavement seating fees, facilities etc

Jo xxx

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Old 17th January 2011, 11:07 AM
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Quote:
Originally Posted by Veronica View Post
Same here. The older child at the very least would need to go to the international school at 7.000+ euros per year. The 7 year old would also find it hard to integrate into local schools so would also probably need to go to the international school, so that is 14+K before you start with anything else.
My advice, stay where you are.
I mis-read it as 13 year old twins - so yes, only tholder one would have to go to International - & yes about the same cost

most 7 year olds would be fine in Spain though


but still I agree - stay put - or if hell-bent on a business by the sea, stay in the UK & rent a bar or something there

at least re-location will be easier - & there is a safety-net if all goes to pot

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Old 17th January 2011, 03:05 PM
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Why not go to Cyprus on holiday first, to see if you like it, check out the schools, and what businesses are for sale. You could pick up a business cheaper than before, but you will be targeted by the established businesses who have connections.
If you are still determined, why not work in a bar, if you can find work, and get the feel of your chosen location and make friends.
All in all it is a bad time to invest in a bar right now anyway.

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