Cyprus-Forum.com

[paul1978]

No experience in cyprus, but 8 yrs ago I had no experience in uk.
its cliche but power is knowledge.
I personally would look at the souh east protaras/ayia napa or even larnaca.
the simple fact is paphos is heavily populated with ex-pats
ex-pats do not want to spend money they want bottles of keo/carlsberg for 0.70-1.00cyp on a permanent basis unfortunately this does not pay the bills.
Yes they argue they keep you open in the winter, but would it be such a bad thing to earn all your money in the summer and not have to rely on people spending 20-30cyp a week in your bar. winter is a waste of time at this present moment in time in cyprus.
dont get me wrong its nice to make friends but as a bar operative you can not let yourself be held prisoner by customers.
with out doing any maths i would expect nothing less than a 37% operating profit achievable by tight contrls and a lot f hard work.
i would expect to pull in excess of 70% wet margin and 55% on dry.
Ideally for my self i would need someone to submit most of the capital for the venture, but in return i can bring to cyprus a business that will lead others

[paul1978]

ukman you seam to have a bee in your bonnet.

all businesses run alike it does not matter what products you are buying in or selling.

as for H&S and everything else standards in cyprus are far lower than the uk i have enough experience to get by.
You do not know any of our backgrounds and a lot of people on this forum are very judgemental. some of you people have a lot against cypriots maybe its time to move on.............

[ukman]

idiot .i have had a cypriot stepfather for 42 years .2 of my brothers have done national service here. i love cyprus and the people here .but i also now there mentality .and if you think this beautiful place is the same as anywhere on earth .when it comes to haveing a bar and earning money from it .you are cuckoo.ITS THERE ISLAND AND THERE MONEY and i have retired from the restaurant and bar game to come here and spend my time and i love it .and i am shrewed enough to now they GIVE AN EGG .THEN TAKE A CHICKEN ps and come to think of it your sounding just like one of them .do you sell houses aswell

[paul1978]

but you are calling them all the same! i am not an idiot just because i dont know you back ground.
I would not be retiring here if i did not like cypriots.

[ukman]

ok .are you english or cypriot

[paul1978]

I am english, think we got off on the wrong foot?
I think we are all entitled to opinions, it is good forums like this are in place but i also think that these forums try to put people off from moving to cyprus. I can understand because its a beautiful island.
I dont want any anomosity and can get argumentitive when pre-judged.

[ukman]

its not to put people off .its to let them now the facts .as they are and they are joining the forum for help .ithis forum helped me so much when i came to live here .but if you can show me a sucsessful pub here soley british owned without a cypriot haveing a finger in the pie somewhere and pissing the man running it off.i would be shocked . you will only get a bite out of something they dont want todo .cleaning drains or pools /takeing hirecars to airport etc.and if you just need a little job they will help you out .and give you £2 an hour .i see it every day

[Alassa]

I kind of agree with UKman. I had a bar for a short time - our problem was finding staff. Admittedly we were out in a village but no locals would work for "the English people".

Its a very, very hard game and Pafos I think would be difficult because a lot of the expats there are retired and counting every penny. They can nurse a pint of Keo for hours on end !

[Bill]

but you are calling them all the same! i am not an idiot just because i dont know you back ground.
I would not be retiring here if i did not like cypriots.

And you wouldn't be thinking of running a bar with such confidence of great success if you knew the Cypriots .

UKman is spot on with his comments and I would go even further to suggest that even Cypriots coming from the UK would be at a disadvantage in the Cypriot world of business.

A Irish near neighbour of mine started running a bar a couple of years ago -- he is very experienced in the business both in Ireland and the UK and at first it was reasonably successful -- by that I mean he had a few customers in most nights -- then came the problems -- the bar is now closed and I don't know where he is -- probably back in Ireland.

Although very experienced in the trade he wasn't quite prepared for the "Cyprus experience" .

Bill

[Cyprus Vending]

Paul,

Answers to your questions:

-I have seen the bar and it is in the main nightlife street of Paphos
-it is a sports theme bar that attracts a mixture during the summer and locals and sports enthusiasts during the winter months
- it is leasehold and the lease can be negotiated for another 20 years at 900 CYP per month
- it meets all new regulations
-only does wet sales at present but has a licence for food
- I have seen the last 3 years accounts, all prepared by an accountant and they show turnover of 225,000CYP per year and a VERY healthy margin.
- they are open currently from 11am – 3am.
- owners selling due to ill health
- for sale for 220,000 CYP

Hope this give you an insight.

Cheers

Hi Matthew

220K CY --- WOW!!!

Thats a lot of money for a leasehold building.

Plus there is no guarantee that you will retain the regulars!

I hope you do --- They buy a lot of Pork Scratchings!!!

Talk Soon M8