A Special Stop

I got a reminder last week of one of the joys of Spain. I was driving up to France and approaching Burgos I remembered seeing an ancient town off to the right on previous trips. As it was pit stop time I turned off to take a quick look and was simply stunned. The town was Lerma and what I found was a truly magnificent old town with an enormous square surrounded by cloisters at it's heart. That was special enough but we wandered into a local bar which, with it's flagstoned floors and  low ceilings, could have been from a film set; the perfect Spanish bar! Better yet, this is wine making country and the locals were really testing the local vintage. Red, white and rose in the enormous glasses you see on TV dinner parties. However, instead of swirling a bit of wine around the bottom and sipping it, these glasses were filled, the wine was being quaffed and a great time was being had by all!

As a driver I took my coffee (although there was a terrible temptation to book a hotel room, forget the journey and join the party) and found a table. Shortly after the barmaid appeared "would we like some soup"? Of course we said yes and what we got in little pots was a concoction of chorizo and vegatebles that would put any of Mr Heinz' tins to shame.  Oh, and it was free!

So a toilet break on the motorway turned into an enervating and memorable experience and that is one of the joys of Spain: the ability to produce surprises and delights totally unexpectedly. I may not sell homes in Lerma but there are plenty of these experiences available where we do sell and it was wonderful to be reminded of what a special place Spain can be.


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Email: bill.tickle@tickle-international-property.com

+44 208 144 5525
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Thinking of Buying a Bar?

Thinking of Buying a Bar? Then Think Carefully!!

One of the saddest memories I have of my life in Spain comes from a chance meeting with a happy couple and their lovely teenage daughter in Malaga airport. Their flight had delivered them to the wrong terminal and they needed directions to meet an estate agent. They showed me a piece of paper saying where their meeting place was and I gave them directions. It also said who they were meeting. Are you buying a bar I asked. Oh yes they replied, so excited they couldn’t stand still. Then be very, very, careful I said. They didn’t really care or take on board my warning and bounced off to their meeting and to their destiny.

To this day I feel guilt about not trying to put them off. The statistical reality is that their money would be gone, their lives ruined and the family shattered in months. The normal rule is that 70% of bar buyers are broke within 2 years but on the route this family were taking the odds were much worse and the timescale shorter.

Why didn’t I tell them? Well, as the agent in question always said “If I don’t sell them what they want (sic) someone else will”! Unfortunately in cases like this the people being helped invariably hate the helper and disbelieve what you say because you are sticking a  great big pin in the bubble of their dreams.

So why are bars so often such a bad deal?

There is no trade; when the punter visits they get rent a crowd in or you show the place on a busy day (Fuengirola port is busy on market day and out of sight the rest of the week for example). It’s not unknown for bars to be opened for the showing and closed when the punter goes home.

Hidden costs; you are told the rent for the bar but they omit to mention the equally large terrace rent payable to the town hall.

Competition; the bar down the road has been in the same ownership for donkey’s years. They own the freehold so there is no rent to pay and have great deals with suppliers. He can sell beer for less than you can buy it for from the wholesaler!

Inexperience; anyone entering a very competitive business with no training or experience has to be crazy and certainly has no future but that doesn’t stop people doing it all the time.

We rarely offer bars and when we do they tend to be freehold and away from the costa. Being away from the costa may seem counter intuitive but in reality a good village or shopping center location often works best. Less competition and regular all year round trade. In other words viable, realistic businesses offering a real chance to earn a living in the sun.

Finally we always sell business premises on a bricks and mortar basis; there is no element of good will in the price. Why? Because so much business in Spain is for cash that accounts are rarely worth the paper they are written on. If someone has accounts, particularly accounts that show lots of profit, treat them with great suspicion. In other words run a mile! You can get anything printed on the Costa del Sol.

This may sound like I am trying to put you off but not a bit of it. There are good bars and restaurants and there are plenty of alternative businesses. You just need to remember not be part of the crowds that leave their brains at the airport!  

To find out more about buying a business or to discuss your options, please get in touch!

+44 208 144 5525

+598 424 80 563

Skype; tickle.tip

http://www.tickle-international-property.com/

Email: bill.tickle@tickle-international-property.com