Post: #1

More than 3 years living in Ecuador and getting kind of bored, so I need to change, maybe Asia...

Selling my restaurant, for 15k you get:

- Everything you need to work the next day; industrial fridge, huge freezer, power plant for black outs, small wooden bar, 31 seats for 12 tables in beautiful wood, stoves, kitchen accessories, crockery, plates and cutlery, sound system with I5 laptop included, i will even leave wines and what ever is on there by the moment I make the deal. That came to around 10k of inventory.

- The business itself, we are second/third of 38 in TripAdvisor, most hotels in town recommend us, and there is a fair amount of expats that love us. I set this at 5k, but by business accounting calculations should be much more, 5k is done in a couple of middle moths or in one high season month.

- The lease contract, which is dirty cheap, it allows me to close up and travel south america on low season...

Post: #2

Tempting.

I'm guessing there's lots of 3rd world shithole regulations about foreigners owning property/businesses?

Post: #3

More info: where it's located, how much you pay in wages, profit etc?

Post: #4

Pics would be nice.

Post: #5

Hit up Chochemonger

Post: #6

This is tempting. But come on, you're selling a business and no mention of the cash flow?

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #7

(01-15-2016 02:39 PM)Beyond Borders Wrote:  This is tempting. But come on, you're selling a business (ON RVF)and no mention of WOMEN?

Edited for accuracy.

Post: #8

(01-15-2016 01:48 PM)Game_Started Wrote:  Pics would be nice.

Of the women.

Post: #9

@ Malone; you just need residency, that's $25,000 on property, bank deposit, or on a business. We could do a selling contract and write it was sold at $25.000, that is easy. I got mine buying a house, paid 100 bucks to the local lawyer and they change the value of the house on the local archives to 51.000 (we were two)

@ Svodoba; Its located in Manabi province, Puerto Lopez. rest of the info MP

@ Game started; PICS, no problem: https://onedrive.live.com/?authkey=!APuS...58DF330EA0

@ Beyong borders, Mp and i will send you all the info privately, let talk business as gents not bitches... no offense

Difficult to find a decent local chick, maybe some 6's and a hided 7 from time to time, on weekends guayaquilenias are thirsty.
Easy to make fuck friends here, they are so easy...
The occasional USA/Canadian/European beach, but if you are the owner its so much easier...

Post: #10

Fuck it! i will copy an email i sent to people so you can get some already asked details:

Made some pics this morning.
The place its a mess, with Christmas we couldn't do a full cleaning, we are just doing the daily basic cleaning before we open.
As I told you the place is a typical fishermen house, which tourist love. And this is also what keeps the rent at $150.
In the pictures check the ceiling on the lower floor, it's Guayacan wood, now impossible to find, I have treated it last year and shines beautifully.

The backyard is used only to keep and run the power generator in case of blackout. Also you find the water pump and reservoir here.
There is a black water reservoir which is huge and you will never fill it up...

I was planning on painting some walls and setting up a new lighted restaurant signals outside, but now i will leave that to the new owner.
There is always some improvements that can be done, but it works really well as it is.

As you can see on the pictures, the Malecon is being worked, in a couple of months or so should be finished and it will definitely be a tourism boom for the town, as this is a president Correa's project and he, as usual, will make tons of publicity once its done.
I made some pics of the north part of the Malecon that is nearly finished so you get the idea.
On our area they are setting all electric cables underground and when its done (couple of weeks) they will do the promenade, the floor i mean... so in less than a month this part will be done. We have two main access to the beach just in front and a round building, that you can see on the pics from the balcony, that will be handcraft shops and public toilets.

I will detail again, the $15.000 includes:

- Business itself, we are 3rd of 38 restaurants listed in TripAdvisor in Puerto Lopez, this is huge! Lots of tourist come from this.
Most hotels recommend us, we have being around for a while, we are well known and have many local clients.

- 31 chairs for 12 tables in two floors; great quality wooden tables and chairs.
- Industrial fridge and a huge freezer
- A ton of Kitchen accessories
- 2 stoves with a total of 6 fires.
- All crockery, plates and cutlery, glasses and wine glasses... for 40 pax
- Power generator for blackouts
- Wooden bar of around 3 meters.
- Sound system of 6 speaker connected in both floors
- Decorative lamps
- All permits - and more... to find out more, give us a call.

Rent its dirty cheap!
It's a great opportunity, I know everybody may say their business is great, but this really is great, people love it and there is no competition in this town, a couple of Italian places, a Colombian restaurant and that's about it, the rest of places are small, hided eateries and get no share of tourist customers.

We have a happy hour 2x1 on sangria and beer from 17 to 19 so to hook people inside that usually get something to eat and so at diner time, passing people would see already customers at the balcony and jump inside...
In the north part of the Malecon are 6 of the biggest hotels, and when guess there walk to the center, the second restaurant they find is us, the fist is a small pizzeria.

PD. I will include also the computer in the kitchen photo which has an I5 processor and all the wine bottles, beer and products we have when we close the deal, there is around $500 worth just of wine. I just need to go back asap and can't carry many things with me.

Here are the pics: https://onedrive.live.com/redir?resid=BD...=folder%2c
Click on 'see original' for high resolution

Post: #11

Hello -------, I do Skype but I use this computer to play music through the speakers at the restaurant, so not in the evenings i am afraid we can try to fix an appointment in the morning sometime if you are interested...
I am sorry to copy other persons email here but it is a lot of info and dont have much time, please ask any questions you may have, it will be a pleasure.
The only question is not answered in this email is the one you did about buying the place, when I asked around a couple of years ago, they were not interested at all, but a good offer may change that, once you gain they trust, they are a conservative family.

There you go, this email has some info about income, seasons... that you may ask later on, so we jump a step lol:

Sure there is a lease contract with the owner, here there is and official contract form from the Ministry so things are easy.
Its for 1 year and renews itself automatically every year unless one of the parties gives notice 3 months before.
It can only be increased by the percentage of official inflation of that year, last year was 3% i think, but she never did increase it.

That place was nearly empty for years until I rented it out. She (the owner) is quite happy with it, they are a honest family with a successful business so actually she does not care about the $150. Anyway if we get a deal you'll met her and find for yourself.

The Inventory came to something bellow $10,000 - $9,600 or so, without the laptop and wines.
And $6.000 for the business itself, you would do that in a couple of middle season months, so I think is way bellow business accounting calculations, then i just rounded to $15.000.

The profit changes greatly, low season months around $1000 net if so, middle season's $1000 - $2000 and I never got to $4000 but always over 3k in high season.

JAN is the best month with AUG - around 3.5k
JUL- SEP - DEC are great - around 3k
FEB - MAR - JUN - OCT are OK - usually more than 1.5k
APR - MAY - NOV- I usually just close and travel also first 2 weeks of DEC are bad, I opened the 10th DEC last year.

But this change lightly every year. This year JAN doesn't look as good but last year JUL and DEC were great, nearly at 4k. This also depends of how your money management shines, spending less or buying more clever you could get to 5k some months, i tried...

The average daily is hard to say... the daily income this last days was:
1st, 2nd, 3rd and today we made $176 - $163 - $138 and today $85
Last year, January, same days 1st, 2nd, 3rd and 4th - $321 - $354 - $257 - $421
This could also vary.... with a group you could make $600 on a low season evening... not many restaurants here can accommodate a large group.

This low income compare to last year is because the Malecon its being constructed and as you can see in the pics its quite a mess, so tourist just go away faster.
Once its done will be just the opposite, will be a boom for tourism as this a presidential project, no regional or local, so once its done, the president would go crazy saying how good the Puerto Lopez's Malecon is, he always does when is something he has done, but even if this boom does not happen, worst case scenario, is sales would be normal again which is double what we are doing now.

I have been totally honest with the numbers above. Come to Puerto Lopez (i think its 3 hour or so from where you are staying) and ask around, you will see i am not far from what you'll hear. And its a Spanish Restaurant selling Paella, not a really popular dish, some people even think its Mexican before they jump inside... so it will work much better selling US kind of food as around 70% of our clients are US/Canadian.

We are plan to flight as soon as we sell the restaurant (or beginning of Feb if it's not sold by then), and the house... or maybe we'll just close down the house, we hope to come back some day.

If you are really interested, i will advise you to think ahead. Carnival is coming the first week of FEB, and its massive, everybody from all over Ecuador moves to the beach for a week, believe me it's massive. The money of a high season month could be done in a week (opening also at lunch) but you need to be ready in advance, its not easy to manage so many tables.

pd. All numbers above are just for dinner, we open from 17.00 to 22.00, opening at lunch time also would be a whole new story.

Sorry for the errors and misspelling, its late and i am writing fast to go to sleep...
Toni

Post: #12

RooshV Forum covert hangout?

Post: #13

Someone through MP asked me if numbers bellow are net or gross...
- Monthly numbers are net, after taxes, wages, expenses... on my pocket, profit.
- Daily numbers are gross, what ever we got from customers that day before paying anything
-------------------------------------------------------------------------------------------------
The profit changes greatly, low season months around $1000 net if so, middle season's $1000 - $2000 and I never got to $4000 but always over 3k in high season.

JAN is the best month with AUG - around 3.5k
JUL- SEP - DEC are great - around 3k
FEB - MAR - JUN - OCT are OK - usually more than 1.5k
APR - MAY - NOV- I usually just close and travel also first 2 weeks of DEC are bad, I opened the 10th DEC last year.

But this change lightly every year. This year JAN doesn't look as good but last year JUL and DEC were great, nearly at 4k. This also depends of how your money management shines, spending less or buying more clever you could get to 5k some months, i tried...

The average daily is hard to say... the daily income this last days was:
1st, 2nd, 3rd and today we made $176 - $163 - $138 and today $85
Last year, January, same days 1st, 2nd, 3rd and 4th - $321 - $354 - $257 - $421
This could also vary.... with a group you could make $600 on a low season evening... not many restaurants here can accommodate a large group.

Post: #14

(01-15-2016 03:47 PM)tonired Wrote:  @ Beyong borders, Mp and i will send you all the info privately, let talk business as gents not bitches... no offense

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling

Post: #15

I'll ask around my family cause the price is right and regardless they would run into the ground anyway it seem like a inexpensive way for them to fail.

Maybe I can charge them to lose less?

Enough about me though I have some legit friends there that can rob you blindly if you want..

I forgot they owe me money.

Post a picture.

Post: #16

All kidding aside if it's working and you'll stay around to train someone it's a great life experience regardless

Post: #17

If anyone is tempted, but holding back because they have never operated a restaurant before I can answer any general questions forum members may have in addition to tonired. I have a lot of experience as a restaurateur and have always believed that anyone can be successful in this business if they are willing to put in the effort.

Post: #18

(01-15-2016 03:54 PM)tonired Wrote:  And its a Spanish Restaurant selling Paella, not a really popular dish, some people even think its Mexican before they jump inside... so it will work much better selling US kind of food as around 70% of our clients are US/Canadian.

The restaurant is popular because of Paellas. Who makes the paellas? If you are taking that expertise with you and suggesting that the menu be changed to sell N American food then you are not selling the business. You are closing it down. If you change the menu completely, it is a different restaurant and a new business. At that point the Tripadvisor ratings, reviews and any goodwill become meaningless.

All you are really selling is the fixtures, furniture, inventory etc.

Post: #19

@ el mech; Sure, if the buyer wants to keep the menu i would show him the "how to"

@ Kamaki4; that is great! Also the menu is quite small, I focused the restaurant not to make lots of money but to have an easy job with plenty of time for me, so preps. are easy and most things are frozen so from the freezer to the pan...

@ ManAbout; I am selling what is inside, inventory... and the business itself, but whoever gets it may change menu and name, up to him... the place its the same, hotels would direct people here no matter what they are selling... but you have a point.

Anyway the thing in this town is that is full of hotels/hostels, and tourism, but not so many restaurants, sure in TripAdvisor you will see nearly 40 but nearly all of them are eateries which get no share or the quality tourist...
Maybe 4 real restaurant competitors in town.

The most expensive and easiest is the grilled lobster, which most of the people ask for...

Oh, and as I said before there is the lady in the kitchen, she want to keep working here and she knows how the kitchen works, she just need someone to direct her when things go crazy.

Post: #20

So how many staff do you have?

So all the cooking is done by the lady, you just manage, right?

Post: #21

In low season 3 people, me cooking, kitchen help and waitress.
In high season 5 people, 2 kitchen, 3 waitress.

The helper knows how to do most things, but paella, I do that.
Paella is something anyone could learn, that's the least of the challenges.

Post: #22

Should post this on one of those expat forums. I know a lot of people are looking to move to Ecuador, but have no clue what they'd do for work etc...

Post: #23

The beginning of the RVF VIP club system.

Post: #24

How long will you stick around to train? I think that would be important to anyone buying it.

Post: #25

After the deal is done.., lets say a week.
I dont think its not much to learn, once you know the preps. the dishes and the contacts to buy lobster, shrimps, fish... all is is to do is keep doing it.
Its not a hard job, neither difficult. I mean you cook your ass in that kitchen, but it is for maybe a couple of hours, everybody have dinner at the same time, the other 3 hours of opening time is easy, tables come every 15 minutes or so, so plenty of time to check rooshv

@weekend casanova; I did a couple of sites, i will keep looking, thanks.