[samsamsam]

(10-20-2013 04:39 AM)worldwidetraveler Wrote:  

No, they are separate and would stay that way if I purchased both.

Problem with that is you are now relying on a business, that you don't fully understand and many fail at. I am not sure if you buying these all cash or with loans. But I imagine there might be some personal gaurantees you have to place on these. I wouldn't want to own both unless that real estate has value because of location, other uses etc. If the only value is because it can operate a bar, maybe you don't want that. I'd get a lease and an option to buy down the road.

Unless you are absolutely sure you have a handle on this.

[cardguy]

If I owned a bar I would do this.

Hire some hookers to flirt with some 'betas' who are there with their friends. I think when a 'beta' gets attention from a girl they will think that is their 'lucky spot' and be loyal to it for life.

Would be fun to hire a hooker to fuck a guy - and lead him into thinking he 'got lucky' at his new favourite bar.

Also - if pretty girls are being secretly paid to whore it up with losers - that should drop the 'value' for any other girls at the bar - resulting in looser women all round!

[worldwidetraveler]

(10-20-2013 09:20 PM)Steve9 Wrote:  

(10-20-2013 06:53 PM)Nemencine Wrote:  

Come on, steve9. this is an overkill, and you know it.

the man just want to open a bar/club. sit back and relax. let the money flows in.

Maybe...however the OP seemed to be more interested in returns than being a bar owner, so I thought it was worth highlighting that you can make decent returns from investing in popular cafes/restaurants that most of you would be familiar with. This way is probably less risky that buying a neighborhood bar.

I myself was seriously considering buying a cafe a few years ago, but ended up using the money to buy shares in companies like Starbucks instead. I probably spend around 6-8 hours per year following my Starbucks investment.

The beauty of owning shares is that you can sell all or part of your stake at the click of a button. If OP has an interest in making money, learning a little about shares could be the way to go if he is interested.

You don't necessarily have to go into all those financial details. Find a great restaurant franchise that is rolling its concept across the US.

I am not from, or live in the US, and have never eaten at Panera Bread. However I brought shares in Panera (PNRA) last week at $160 because they plan to open hundreds of more stores in the next few years.

I think there is a good chance that this investment will have at least doubled in 5 years. So Im just sitting back and relaxing while Panera management is doing all the work for me.

Obviously with this method you have no "bar owner" status. If that is OPs aim then he will need to actually purchase a bar.

No, it isn't just about a return but it is something that needs to be looked at when dealing with cash. I am already working behind a computer most of the time in my main business.

To be honest, I don't want to take the time to learn that type of investing. I understand real estate much more and would rather do that than stocks. I just understand how to mitigate losses much more when dealing with real estate. I plan on working real estate in the same area which is why I was looking at the bar.

Don't worry about me knowing the industry, I can make anything work when I want it enough.

[worldwidetraveler]

(10-21-2013 03:33 PM)cardguy Wrote:  

If I owned a bar I would do this.

Hire some hookers to flirt with some 'betas' who are there with their friends. I think when a 'beta' gets attention from a girl they will think that is their 'lucky spot' and be loyal to it for life.

Would be fun to hire a hooker to fuck a guy - and lead him into thinking he 'got lucky' at his new favourite bar.

Also - if pretty girls are being secretly paid to whore it up with losers - that should drop the 'value' for any other girls at the bar - resulting in looser women all round!

Hiring hookers wouldn't be a smart business move.

[worldwidetraveler]

(10-21-2013 02:16 PM)samsamsam Wrote:  

(10-20-2013 04:39 AM)worldwidetraveler Wrote:  

No, they are separate and would stay that way if I purchased both.

Problem with that is you are now relying on a business, that you don't fully understand and many fail at. I am not sure if you buying these all cash or with loans. But I imagine there might be some personal gaurantees you have to place on these. I wouldn't want to own both unless that real estate has value because of location, other uses etc. If the only value is because it can operate a bar, maybe you don't want that. I'd get a lease and an option to buy down the road.

Unless you are absolutely sure you have a handle on this.

It has office space as well which I would use for my other businesses.

[Christian McQueen]

I know some cats doing this type of app. They're having trouble with getting clubs to sign up etc, because most clubs who would want to be on it are on there way down.

[Christian McQueen]

^^^Wrong thread.

[Sp5]

Bumping this up because it's an idea I've been thinking about.

There are a lot of bars for sale - worldwide. I have been looking at the USA, UK, Ireland, Spain and Singapore.

Also thinking about small hotels and B&Bs.

[argy]

I've also been thinking this. Especially in Paris (good areas), the 'brasseries' and bars are literally always full - irrespective of price, ambience, etc.

I don't have the capital yet, but I think a well-run bar can be an amazing source of revenue. Hotels and B&Bs get more difficult, because you are very vulnerable to competition, fluctuations in tourism, higher baseline costs etc

[jamaicabound]

I think everyone at some point has dreamed of owning a bar for a variety of reasons, I think it would be fun comming up with special events and promos and stuff, some people would probably like walking around being the bigshot or owner. Honestly I think unless you grew up in this business and really know it I think it's a hard business to get into. Due to being a cash business people can steal from you left and right if you're not involved in day to day operation of the place. Also, if it's more of a club a clubs lifespan as being a hot place is typically less than two years so put all this money into a place knowing you only have 2 years to make it back if it even takes off in the first place. A neighborhood bar can be good because it's not a fad but a neighborhood establishment however for that type of place people want low prices your dealing with regulars.It's not a bad business but not something thats gonan make you rich passively.

[ThePrinceOfDixie]

(09-13-2014 01:25 AM)argy Wrote:  

I've also been thinking this. Especially in Paris (good areas), the 'brasseries' and bars are literally always full - irrespective of price, ambience, etc.

I don't have the capital yet, but I think a well-run bar can be an amazing source of revenue. Hotels and B&Bs get more difficult, because you are very vulnerable to competition, fluctuations in tourism, higher baseline costs etc

Agreed, the start up cost for hotels are extremely large.

I really want to own a bar, but I think I am going to go to bartender school and get a job so I know the industry first.

[Lion of Judah]

(10-18-2013 09:54 PM)samsamsam Wrote:  

Not trying to be funny, I have seen a few of these episodes. The guy is a little wacky but he seems to be an expert.

http://www.spike.com/shows/bar-rescue

Watch some episodes and see all the headaches and how they turn it around. The one problem is theft of cash, over pouring and not charging customers for drinks.

My cousin was on that show. Without going into the details of what went down, they exaggerated a lot of the problems and tried to strongarm him into making changes to his bar that he had to reverse later. It's all scripted like most reality television, so what you see has nothing to with real life. At least it gave my cousin's business some attention.

[Veloce]

(09-12-2014 03:54 AM)Sp5 Wrote:  

Bumping this up because it's an idea I've been thinking about.

There are a lot of bars for sale - worldwide. I have been looking at the USA, UK, Ireland, Spain and Singapore.

Also thinking about small hotels and B&Bs.

Let me know if you guys need any input on hotels. This is my forte at the moment.

Hotels can be a great source of revenue but as noted, the up-front costs can be insane. They're also invariably run-down to some degree and maintenance costs can get out of control.

I would not recommend owning a hotel in California. I would highly recommend owning a small hotel where labor and cost of living is much cheaper.

Like owning a bar, I would also highly recommend taking a hotel job for a year. If there's one position that will give you the most exposure to daily operations, it's front desk agent. The valet/bellboys are the first point of contact for a guest, but it's the front desk agent that really sets the tone of the guest experience, much like a server in a restaurant. In the front desk you'll deal with room reservations (most likely through Opera system), restaurant reservations, special requests, complaints, with a good exposure to room sales, group sales, and handling cash drops and credit transactions. The front desk is kind of the hub for the rest of the hotel and they're required to be knowledgeable about on-site dining, calling housemen or engineers for room repairs or emergencies, scheduling housekeepers for cleaning, directing valet guys, etc. It's a high stress, learning-intensive environment that I highly recommend.