Business Start Up: West End Bar Turnover/Profit

[James_28]

Hi all,

I'm new to the forum however I've been to Ibiza a fair few times now. It's fasicinating to read previous posts and see the essential island knowledge being past on. Great stuff!

Having read the posts, it is clear that a lot of people dream of opening a bar in Ibiza, and it's easy to see why, besides the wonderful climate and lifestyle, in peak season every night is like a saturday night. Must be a gold mine right?

However although extremley busy, the competition is undoubtedly very fierce. I just wondered if anybody owns a bar or worked in a bar in San Antonio and actually knows what the average takings (revenue or profit) is in a season, month or night?

Financially is it worthwhile?

This may help budding entrepeneurs by giving them an incite into such a competitive market and be of great help before making potential life changing decisions.

All responses are welcome.

 

[Dobbyr]

I guess it seems not many people here would have the knowledge of such a business in a holiday enviroment! Meh - Neither do i! Tbh, I can't imagine it being a "Gold Mine" - Alot of pubs in the UK don't take as much as you think they would, even the busy ones! Then when you hit the WestEnd, some nights i can imagine them losing out somewhat! I mean - EuroBars? 20Euros for a 2hour free bar - any half normal english man can drink that value in 20 minutes - I know they used knocked down alcohol - but bloody hell!

Going a bit off topic now, I really don't think it'd be worth it for an outsider (foreigner) opening up such a business there, i can imagine it'd be quite lucrative for a spanish or someone from less established country than the UK, not being biased in anyway, but with the UK being the most expensive country currrently in the EU i dont see why anyone would invest in such a business when we really shouldn't within the EU - Im not sure which nationality you are.. But bare in mind the differences between countries, and respect that some may greatfuly produce alot of profit, and some may only cut even due to conversion issues. Long rambled, but drunkenness talk is ****ing awesome.


Best bet is to find out, if your willing to invest in such a business - (making sure you employ people that are coming over to work e.g. ME ) then do it, at the end of the day, advice only gets your 1/4 of the way, the rest is guts and instinct.. Are you willing to put whatever your investing on the line.. I consider it as gambling... (due to the fact i know nothing about running a bar business (San Antonio is such a different matter in that respect, i mean running a bar there,is somewhat completly different to running a POPULAR bar here)) Bascially, there's say... 100 odd people that can tell you the real facts/figures about that type of stuff... If your willing to gamble it, No doubt in my mind will you have people coming to your bar if your know enough about if and advertise it enough, then go for it... what people say on here will influence you in about what... 20%... Go for it i reckon.. even if you fail.. it'll be one hell of a story... let alone experience & surely... that is what Ibiza is about?