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CIM
31-05-2011, 00:29
If you have come here from an internet search after typing "Buying a bar in Tenerife" then you have definitely come to the right place!

Buying a bar in Tenerife is like buying a very expensive lottery ticket - Yup, there is a chance and yes you can try BUT you are very likely going to lose your money. You might make it but in general you are not going to because the odds are stacked against you. The bar selling merry go round in Tenerife is basically designed to strip you of your cash and see you go home potless.

I wrote a blog post about this a couple of years ago specifically designed to rank for this phrase in Google and hopefully put off anyone with any notion of moving here and buying a bar. What is very pleasing is that it ranks number 2 in Google for the phrase "buying a bar in Tenerife" so at least some people may have been put off by it.

I would republish it here in the vain hope that more people find it, read it, take it on board and donīt ruin their lives by chasing a daft dream of owning a bar in the sun on an island they know nothing about in an industry that they have never worked in! Unfortunately the article is rather lengthy and exceeds the forumīs post character limit so I can only provide a link instead. If this restriction is ever changed then I will republish it in its entirety.

Please pay attention if you are considering buying a bar in Tenerife and ask the forum members we have here who actually own bars what they think of your chances - they will tell you honestly and hopefully save you a lot of time, money, stress, heartache and possibly your marriage!

Here is the article I wrote:

Source: TenerifeEstateAgents.net - Buying a bar in Tenerife (http://tenerifeestateagents.net/bars-for-sale-in-tenerife-warning/)

bonitatime
31-05-2011, 06:52
I have just finished More Ketchup Than Salsa: Confessions of a Tenerife Barman by Joe Cawley which I would recomened to anyone thinking about opening a bar. Adding that this ws 20 years agao when there was much less competition than now and no real health and safety. Still you get a feel for how hard the work really is.

Tom & Sharon
31-05-2011, 09:03
How very true........................

TenerifeTeddy
31-05-2011, 10:55
Harsh, but fair! I know nothing about running a bar, which is why I will never own one.

However I do have 2 friends who have made a decent living out of taking over run down bars, doing them up, building up the business then selling them on after a couple of years and making a good profit, but they do know what they are doing.

I have also seen many people come in and take bars over and lose all their money, some only lasting a matter of a few weeks. Your article is a timely warning to anyone who thinks it is an easy option.

tonypub
31-05-2011, 12:46
any business owners first consideration should be costs/overheads.Naturally a bar owners biggest cost is his/her beer.now if your new to the island/industry you will have no track record or contacts.the owners that have been here a while enjoy big discounts on the list price for beer,this has to be earned.my point is you will be competing with a bar next door that may be buying beer in at half-price or more compared to what you pay.so if you think the bar next door can flourish with the 1euro pint,dnt think you can.you may be paying twice as much.

Frank
11-11-2011, 12:59
Thanks, what a great article and oh so true! One of my friends bought a sandwich bar with a great turnover (on paper)....He lost all of his money in just 3 months. Ridiculous rent, previous owner lied about turnover, etc. I tried to help him a little. I bought the inventory so he had money to travel home. I’m not in the bar/restaurant business and can use some help. Does anybody know where I can sell refrigeration cabinets, stainless steel work tables, freezers, bread oven, patio tables and chairs, etc. All help more than welcome!!

CIM
11-11-2011, 18:13
Its a toughie alright. I dont see many do well. Even the ones that do make money, the owners seem to be working every hour they can - not nice!
The same problems everywhere - from the tourist areas to the Spanish towns, always closing, re-opening with a new owner, closing again, new owner, round and round they go....
Its a shame so many people get sucked into it really. I know a couple of bars for sale that make a decent income but they are few and far between. Rents are astronomical and seem to be the biggest problem.

doreen
11-11-2011, 18:29
Thanks, what a great article and oh so true! One of my friends bought a sandwich bar with a great turnover (on paper)....He lost all of his money in just 3 months. Ridiculous rent, previous owner lied about turnover, etc. I tried to help him a little. I bought the inventory so he had money to travel home. I’m not in the bar/restaurant business and can use some help. Does anybody know where I can sell refrigeration cabinets, stainless steel work tables, freezers, bread oven, patio tables and chairs, etc. All help more than welcome!!

Put up some photos on a new thread - might get some interest from bar owners. There is a place in Los Cristianos that buys second hand, but for a pittance

Was the bread oven his to sell ?? Normally they are given out by the bread companies - if it is not one of those, I would be interested - will pm later

Frank
11-11-2011, 18:56
I will put up photos, probably next sunday, as everything has to be cleaned. The guys were so fed up with everything they didn't clean much the last month. Yes, the bread oven was his. It's all on the inventory list (signed by the previous owner) and fully legal. It's approx. 80*60*60 cm. I will look at the brand and age also.

Frank
18-11-2011, 15:50
Hi Doreen, are you still interested in the oven? If so pm me.

Team_Magic
17-01-2012, 18:26
well thats well and truely burst our bubble!!!! I certainly did not expect it to be easy and I have a good few years experience in business and starting my own business along with experience in the catering industry. I believe ALOT of research and a solid business plan are key.. we are in the stages of looking for premises and planning, if anyone can make it work - we can!!

tonypub
17-01-2012, 21:18
well thats well and truely burst our bubble!!!! I certainly did not expect it to be easy and I have a good few years experience in business and starting my own business along with experience in the catering industry. I believe ALOT of research and a solid business plan are key.. we are in the stages of looking for premises and planning, if anyone can make it work - we can!!you may get a few pms now;)

bobo360m
01-02-2012, 20:27
Hi everyone. Can anyone supply any genuine agents south of the island who can help in supplying the correct information on purchasing a bar. Many Thanks

Vortex Wake
01-02-2012, 22:24
Go here http://tenerifeestateagents.net/bars-for-sale-in-tenerife-warning/

slodgedad
01-02-2012, 22:29
Go here http://tenerifeestateagents.net/bars-for-sale-in-tenerife-warning/

Sorry the post by bobo seems out of context. It was merged with an existing thread on the subject..