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Purchase of restaurant

Posted: Wed Jun 16, 2021 10:39pm
12 replies458 views4 members subscribed
Sammylouise

Sammylouise

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On purchasing a restaurant, the vendor told me it is ok to use same solicitor as there's but is this not a conflict of interest and not allowed in Spain, 

Mags44

Posted: Wed Jun 16, 2021 11:03pm

Mags44

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Posted: Wed Jun 16, 2021 11:03pm

Sammylouise wrote on Wed Jun 16, 2021 10:39pm:

On purchasing a restaurant, the vendor told me it is ok to use same solicitor as there's but is this not a conflict of interest and not allowed in Spain, 

Whether it would be legal or not, there is of course a conflict of interest! If buying a business after Brexit, there could also be complications in being able to own and run a restaurant as a third country citizen (if you are from the UK) so the correct legal advice would be vital, as all the rules have changed. The vendor sounds a little desperate to me!

Sammylouise

Posted: Wed Jun 16, 2021 11:38pm

Sammylouise

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Posted: Wed Jun 16, 2021 11:38pm

Mags44 wrote on Wed Jun 16, 2021 11:03pm:

Whether it would be legal or not, there is of course a conflict of interest! If buying a business after Brexit, there could also be complications in being able to own and run a restaurant as a third country citizen (if you are from the UK) so the correct legal advice would be vital, as all the ru...

...les have changed. The vendor sounds a little desperate to me!

Thank you your advice, yes I think the same but I needed others opinions too.

Thank you 😊

Sammylouise

Posted: Wed Jun 16, 2021 11:39pm

Sammylouise

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Location: Camposol

Joined: 5 Jan 2020

Posted: Wed Jun 16, 2021 11:39pm

Mags44 wrote on Wed Jun 16, 2021 11:03pm:

Whether it would be legal or not, there is of course a conflict of interest! If buying a business after Brexit, there could also be complications in being able to own and run a restaurant as a third country citizen (if you are from the UK) so the correct legal advice would be vital, as all the ru...

...les have changed. The vendor sounds a little desperate to me!

Do you also know the d sweet pea garden centre that shut last year, before it shut in April 2020 was it successful

crissywissy

Posted: Thu Jun 17, 2021 3:01pm

crissywissy

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Posted: Thu Jun 17, 2021 3:01pm

Sweet Peas was a lovely place with a little coffee shop I think they did really well when it was open....they also had some special events which were very popular...everyone was sorry to see it close.

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Sammylouise

Posted: Thu Jun 17, 2021 7:57pm

Sammylouise

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Posted: Thu Jun 17, 2021 7:57pm

crissywissy wrote on Thu Jun 17, 2021 3:01pm:

Sweet Peas was a lovely place with a little coffee shop I think they did really well when it was open....they also had some special events which were very popular...everyone was sorry to see it close.

That is great to know as this am looking for a place to open up as a cafe/ shop, and I wanted to know is there any interest in people buying plants for their gardens and sitting in a beautiful cafe garden and I was also thinking of putting on events, like Spanish language courses, English/Spanish novels to purchase and event nights like bbq and spanish dance lessons. Please I need to do my research first. So is anyone interested in coming to the events and shops, I would like to hear your views. As I do understand the sweet pea garden centre next to Calle optimis near dai shopping center is out the way of the usual walk through area.

All help greatly appreciated 😍

Sammylouise

Posted: Thu Jun 17, 2021 8:00pm

Sammylouise

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Posted: Thu Jun 17, 2021 8:00pm

Mags44 wrote on Wed Jun 16, 2021 11:03pm:

Whether it would be legal or not, there is of course a conflict of interest! If buying a business after Brexit, there could also be complications in being able to own and run a restaurant as a third country citizen (if you are from the UK) so the correct legal advice would be vital, as all the ru...

...les have changed. The vendor sounds a little desperate to me!

You are so right, all rules have changed and costs more to do anything of financial services and business. Your right , legal advice and financial advice is paramount. I just needed to bounce the idea on others and get common sense back. So thank you 🤩

crissywissy

Posted: Thu Jun 17, 2021 8:33pm

crissywissy

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Posted: Thu Jun 17, 2021 8:33pm

Sammylouise wrote on Thu Jun 17, 2021 7:57pm:

That is great to know as this am looking for a place to open up as a cafe/ shop, and I wanted to know is there any interest in people buying plants for their gardens and sitting in a beautiful cafe garden and I was also thinking of putting on events, like Spanish language courses, English/Spanish...

... novels to purchase and event nights like bbq and spanish dance lessons. Please I need to do my research first. So is anyone interested in coming to the events and shops, I would like to hear your views. As I do understand the sweet pea garden centre next to Calle optimis near dai shopping center is out the way of the usual walk through area.

All help greatly appreciated 😍

Sounds like a good idea but yes it is away from the main tourist drag but not too far....but you are not going to find anywhere with the outdoor space any closer....if you are thinking of putting on events there is very little parking except in the road outside. The commercial centre a few hundred yards away is almost empty as most shops, bars and the cinema have closed. Before you would be allowed any of the things you mention there are licences you have to get from the town hall

eduardo3332

Posted: Thu Jun 17, 2021 9:21pm

eduardo3332

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Posted: Thu Jun 17, 2021 9:21pm

Sammylouise wrote on Wed Jun 16, 2021 10:39pm:

On purchasing a restaurant, the vendor told me it is ok to use same solicitor as there's but is this not a conflict of interest and not allowed in Spain, 

Hi,

I am only speaking from experience of opening 2 restaurants, in the Mazarron area, both these premises had been closed for a while and were owned by Spanish people, I did not use a solicitor as I was leasing and understood what the leases said and the terms were clearly stated.

I will say you do not make any real money (if any) running a restaurant or bar here in Spain, it is extremely hard work and long hours, but if you are successful you will make a living.

Besides the cost of your start up, (I paid no money for the leases) you will have the monthly costs of your self employment, any staff you employ including the cost of there contracts, also an accountant to look after you affaires. One day I had a waitress in the premises, that was due to start work on the Monday, the Hacienda came in for an inspection and as she was behind the bar looking at the menus, and her contract started Monday I was fined 3000 euros.

My plan when taking these premise was to get them into profit and then sell as a going concern, this I did and was extremely pleased with the profit I made (but not the tax I had to pay) I will however point out the people that took them over were closed with the year. not realising hew fickil the general public can be.

I wish anyone well in opening a business venture here in Spain but there are many pitfalls, much greater than in the Uk for instance.

I have also had other business ventures, in fact I still own an SL Property company but this is dormant at the moment.

If you would like any further information from someone that has run businesses here on Mainland Spain, please send me a PM

Good luck and best wished with what ever you decide to do.

Sammylouise

Posted: Thu Jun 17, 2021 9:22pm

Sammylouise

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Posted: Thu Jun 17, 2021 9:22pm

crissywissy wrote on Thu Jun 17, 2021 8:33pm:

Sounds like a good idea but yes it is away from the main tourist drag but not too far....but you are not going to find anywhere with the outdoor space any closer....if you are thinking of putting on events there is very little parking except in the road outside. The commercial centre a few hundre...

...d yards away is almost empty as most shops, bars and the cinema have closed. Before you would be allowed any of the things you mention there are licences you have to get from the town hall

Yes I am going to have to look at what license is in place as that can take a while. Is there a international library in L.A as English/spanish novel books cafe is also a great idea closer to where there is parking and people walking by. I noticed also the coffee is generally the same from cafe to cafe. In this heat I like a frappi, iced tea, or fruit tea. Also a mixed fruit shake and milkshakes, seems these different drinks are hard to come by. Would anyone appreciate a book shop with wifi and printing available and a cafe with different drinks and cakes.🤩

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