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 Post subject: Advice on Pool Bar
PostPosted: Tue Jun 03, 2014 7:59 pm 
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Joined: Tue Jun 03, 2014 7:38 pm
Posts: 3
Hello,
How are ye all,
My name is Damien, I am very interested in leasing a Pool bar in the old town of Puerto del carmen, The lease is a relevant good price at approx 650 month at the moment, There are 111 apartments in the complex 50% privately owned, We looked at the figures all seem relevant, They are making a decent living at the moment, They are opeing the bar from 11am-6pm at the moment but licensed till 12am, They do not engage in any karaoke quizzes etc, They are an old couple, I know the bar and restaurant trade is really gone at the moment but does anyone have any experience on a pool bar, also can offer full inclusive if we like as this is something people were looking for in the area, If any one has any info or experience in a pool bar can they get back to me, Rent inc kitchen full bar seating etc thanks in advance also have very good Spanish


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 Post subject: Re: Advice on Pool Bar
PostPosted: Wed Jun 04, 2014 7:40 pm 
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Joined: Fri Aug 28, 2009 9:14 am
Posts: 230
Sounds like you've done some research - fair play to you (not everyone does)

Hope some of the devils advocate questions below help get you thinking.

What's the age profile of the guests in the complex? Is it families with toddlers or older kids? How many staff will you need to run it if you're going to open those extra hours? What type of entertainment would you provide - karaoke or live music? Is there up-front money required before you get the keys? What are the reception and maintenance staff like - you'll be getting to know them fairly well!

Good luck :-)


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 Post subject: Re: Advice on Pool Bar
PostPosted: Wed Jun 04, 2014 7:54 pm 
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Joined: Tue Jun 03, 2014 7:38 pm
Posts: 3
Hello,
Thanks for the reply, The info you asked me is stuff I haven't taught about aswell so thank you,

I was over there on the spy just looking around and if there was anyone there, About half the complex is owned on long term lease and there are ranged from 18-28 mostly with a few up to there 40s not many kids, As for the rest of the apartments there are rented to holiday makers so they will vary mostly families so ya coke, fanta is where money is made,

As for extra entertainment there was none what so ever going on, There is a pool table and we are looking to have pool competitions and dart competitions, As for extra entertainment we will have to see the audience on the week,

The costs of setting up is One month rent in advance and €650 deposit,

Would it be safe and right to get a solicitor for leasing not sure on this myself

Thanks gain


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 Post subject: Re: Advice on Pool Bar
PostPosted: Fri Jun 06, 2014 9:23 am 
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Joined: Fri Aug 28, 2009 9:14 am
Posts: 230
Why not ask the couple who have the place currently to let you run it for three months? And pay them what they're asking for in terms of deposit and rent.

You'd essentially be the new owners, could see what's it like first-hand, and wouldn't have a big financial commitment if it didn't work out. But on paper, you'd just be the current owner's management/staff.

It depends on whether the current owners would want this arrangement or not, I guess. But if they want out and you want in, there has to be some element of try before you buy.

All going well and you enjoy the work and cover your costs (don't worry about making money yet!), then you can get solicitors and legal agreements in place.


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