Reply To: 1st Time Bar Buyer Advise Please

#92467

Inez
Participant

Do your research very thoroughly, a classic one is the old owner gets rent a crowd in when you are looking, so either go before or after your actual appointment to see what its really like. Try to find one thats not just touristy but has regulars in too.

Its very hard work but can work if you put the time and effort in. A pleasant sunny personality is vital, good food if you are doing food and be prepared for it to take a year to build so ensure you have enough money for that. Allow plenty of money for any improvements you may need to do and either buy freehold so you can rent it out if need to or check the lease has enough years on it if you need to sell it on.

Check the lease contract very carefully as sometimes the owner has so many rights you cant breathe! Have fun and good luck.