Anyone know of any bars for sale?

[cobraboy]

Thanks for all the input! You have been very helpful with your suggestions.

RE Cobraboy:
1) my boyfriend lived there for 3 years
2) He use to open and run bars for people in and around the DR
3) we're working on that
4) wouldn't do it without!

Sounds like you know what you're talking about...and that we're on the right track

Thanks!

Unless ther restaurant/bar business is "in your blood" please reconsider.

I've been in that business before. It was the hardest business I have ever been in. It's prolly even harder in the DR.

Those who have been in the biz know what I'm talking about.

 

[cobraboy]

One more thought: with current world economics, reconsider that bar for another 2 years. There isn't enough native/tourist discretionary income to support the current bars, not to mention something new.

You'll make a LOT more $$$ investing in T-Bills at 2%.

 

[Expat13]

Amen.

Been there, done that.... (the bar business)

This advice seems wise given the current economic situation as well the drop in tourism, although if the bars are not completely reliant on tourist customers the industry could still flourish.
Case in point, i have yet to visit a country where so many locals drink beer and johnny black, and Venezuela av in SD has bars spilling unto the streets with customers yet still buying their drinks from the clubs. That seems like a unique situation I agree, but definitely some money makers there. Even some of the hot spots in city center Piantini, Malecon etc. are packed on weekends.
Again this is the capital, Sosua may have much more competition and far less local partiers, therefore completely vulnerable to tourism.
I could be wrong here, just my 2cents as I see it.

 

[Yayow]

Just about all of the bars in Sosua and Cabarete are geared to tourism, and as others have said tourism is certainly down (due to worldwide economics), most of the places are currently hurting. That doesn't mean they will be hurting in the future however.

 

[DavidZ]

An additional problem with bars in Sosua and Cabarete is there are not many that offer a unique product. For the most part they look the same, charge the same, play the same music, etc. - One "type" for Sosua, one "type" for Cabarete....but within each town they are all very similar with a few exceptions. There are a few exceptions which seem to do pretty well...El Flow in Sosua and Lax in Cabarete are two examples that come to mind...

But I think if you offer something unique, that caters to a customer base that's not totally dependent on tourism, and don't go over-board with size or scale, you could do pretty well, even in Sosua or Cabarete.

 

[Lambada]

The problem is that the original poster has sufficient faith in her boyfriend to believe he can pull this off. She is also convincing herself they are going about it the right way

and that we're on the right track

Instead of asking if anyone knew of any bars for sale, she should have been asking whether it was a good idea or not. So, I suspect her mind is made up and this couple will join the revolving door of new expats who 'buy' a bar, try very hard, realise it was a bad decision and then go through the hassle of trying to offload it onto another new person with stars in their eyes. I doubt that any advice here will talk them out of it. All we can do is to hope that the person they take over from is someone whom we would all wish could offload their bar and wish this new couple all the best.

 

[jrhartley]

most bars either fall down on advertising or the fact that the people running them are not "people people" Ive been into some and been as welcome as a fart in a spacesuit.


Its hard work being friendly to everyone. but if you are going into this industry ...that is what you have to do

there is an old theory that if you are nice to someone they may tell one person, but if you are not nice to someone they will tell ten people

 

[Ricardo900]

Since we are on the topic?

Being down in the Sosua area, I've learned that many bars for sale is for the "business" part only and not for the actual property it stands on. For example, you could pay $80,000US for a bar, which will include everything (furnishings, full kitchen, etc..) and that is just for the business, not the actual property.

Also, I don't think any "PROFITABLE" bars are for sale in the North Coast. But, the bar right in front of the entrance to Sosua Beach "El Batey" side is for sale, I can't remember the amount they were asking, but what ever they were asking I would divide that amount by two.

I am not that knowledgeable on that matter so I could be wrong.

 

[J D Sauser]

Being down in the Sosua area, I've learned that many bars for sale is for the "business" part only and not for the actual property it stands on. For example, you could pay $80,000US for a bar, which will include everything (furnishings, full kitchen, etc..) and that is just for the business, not the actual property.

Also, I don't think any "PROFITABLE" bars are for sale in the North Coast. But, the bar right in front of the entrance to Sosua Beach "El Batey" side is for sale, I can't remember the amount they were asking, but what ever they were asking I would divide that amount by two.

I am not that knowledgeable on that matter so I could be wrong.

Yes, most "business" sales are basically limited to:

• acquiring the remainder of the lease term (traspasso de contrato de alquiler). Check the lease, it's what you buy!!!
• the right to do business under the "name" (have the seller sign a non-competition clause), customer base and sharing of expertise.
• any MOVABLE inventory NOT owned by the land lord (see lease contract inventories). Modifications to the real estate usually become ownership of the landlord by contract.

This practice of selling the business "assets" and rights only is very common in the US as well as some EU countries (notably Spain).

Your lawyer (you ought to retain one for such a transaction) will most likely advice you NOT to buy the company (SA) of the seller related to the particular business offered (for liability reasons) and instead form a new company and just transfer the assets. Some lease contracts may grant the landlord with the right to refuse, limit or control (seek payment for) such a traspasso and require a "fee" to do so! Again, check and if needed, make sure you re-negotiate a reasonable lease term (length of contract) as your business may depend heavily on it. When your lease expires, your LOCATION may be GONE. If you have a good business, then it may be your landlord's pleasure to just take it over without any compensation or hike the payments on you for a new contract!

Also, become familiar with the term "due diligence".



... J-D.

 

[lins150]

The problem is that the original poster has sufficient faith in her boyfriend to believe he can pull this off. She is also convincing herself they are going about it the right way



Instead of asking if anyone knew of any bars for sale, she should have been asking whether it was a good idea or not. So, I suspect her mind is made up and this couple will join the revolving door of new expats who 'buy' a bar, try very hard, realise it was a bad decision and then go through the hassle of trying to offload it onto another new person with stars in their eyes. I doubt that any advice here will talk them out of it. All we can do is to hope that the person they take over from is someone whom we would all wish could offload their bar and wish this new couple all the best.

Well thanks for the best wishes. The thing here is that if we don't go ahead and at least try, then we'll be living with the "what if's" all our lives. We realize that there is a good chance of failure, like in any business, but if you don't try then you don't know.

There is no point in asking if it's a good idea or not, the asker will always get a diversity of answers/opinions. Some will think it's great to follow a dream, some will think it's a hopeless idea to try a bar in the DR. We will take the chance and see where it gets us. If it succeeds, we'll be the select few that did it. If it fails, we will never regret it; at least we tried and lived a little adventure doing it.

 

[Black Dog]

Lots of good advice here already but I agree that you will always wonder! Someone once said "it's better to regret the things you did than to regret the thing you didn't do". It may be an idea to go for a 1 year lease in a suitable location and set up from scratch. This is a lower up-front cost option and if it doesn't work at the end of 1 year, it's easier to walk away from!

 

[Kahuna]

In this world there is winners and losers. Winners do the things that Losers cant. More then 80 percent of these post are so negative and I would love to see who's on the other end of them, I'm willing to bet that these people that say it cant be done have accomplished absolutely nothing with their own lives and are happy working at a Bookstore or Burger King or some other brain dead job and are happy with just getting by. I Have lived for years in the Bahamas and even longer in Punta Cana and Cabarete and have many friends still living there OWNING the same bar and restaurant for 5 plus years and doing extremely well, LAX, OH NOs, BAMBU are some in Cabarete that are still going strong Hurricane cafe, Mangu in Punta Cana Still Going strong. So to the Poster Follow your dream just because most of these clowns cant make it doesn't mean you and your boyfriend cant. I'm 40 years old been in the industry since I was 18 worked for 2 of the biggest restaurants chains in North america as a General Manager, if your boyfriend knows what he is doing in this industry and have your PURPLE COW ( something that makes you stand out) and by the sounds of it he does know if he as lived there and as done this before.

I wish you both the best of luck the world should be filled with more people like you.

PS to the poster that said did that done that the Bars.. what did you do?

 

[Chirimoya]

Hmm, and you just happen to be posting from the same computer as the OP. Credibility - out of the window.

 

[catcherintherye]

I have enjoyed reading the posts on this thread, and I don't think anyone was being overly negative.

It's important to consider all aspects of any new venture, and that includes giving adequate thought to possible worse case scenarios.

There is no easy or certain way to make a new business successful, but having a good understanding of the possible pit-falls that might inhibit success can only help. Forewarned is forearmed.

 

[Tamborista]

Hmm, and you just happen to be posting from the same computer as the OP. Credibility - out of the window.

Nice work Detective Marple!

 

[Kahuna]

What Because I know the couple in question My credibility is out the window, So what I used the same computer didn't know that was a crime. People on here are telling this couple not to do it and they have never met either one of them and have no idea what they are capable of. The post was does anybody know of any bars for sale, if you think it's a bad idea keep your post to yourself unless you know of something for sale

 

[Black Dog]

You should go into any business venture with your eyes wide open, take ALL emotion out of EVERY business decision and consider EVERY possible outcome and if YOU believe it to be worth what YOU will be risking DO IT!

"People never plan to fail but they often fail to plan" and I DO run a successfull business here, Virgin it aint but it'll do for me.

Good luck!

 

[Kahuna]

well thank you for that and I am happy that your business is doing well for you and that it can be done

 

[Chirimoya]

What Because I know the couple in question My credibility is out the window, So what I used the same computer didn't know that was a crime. People on here are telling this couple not to do it and they have never met either one of them and have no idea what they are capable of. The post was does anybody know of any bars for sale, if you think it's a bad idea keep your post to yourself unless you know of something for sale

Oh, so sorry, I stand corrected. Keep on posting.

 

[J D Sauser]

... The post was does anybody know of any bars for sale, if you think it's a bad idea keep your post to yourself unless you know of something for sale

Asked an answered:

Every bar is for sale in Sosua and Cabarete!

So, once that was taken care of, excuse us if we dared to share our thoughts a little further. :tired:

... J-D.