Made an offer on a small commercial unit!

luce.rocks

luce.rocks

Hubby and I have had an offer accepted on a little place we think would make a nice wine bar!

We've been completely reckless and made the offer without finance in place, hoping we can get finance or sell something, before settlement.

We've already told the RE agent that we'll need a long settlement, vendor has agreed to 5% deposit, and that we'll need the body corporate's agreement in writing that we can lease the common courtyard.

We'll set up a lease before settlement so we don't have to pay GST.

Any other tips?

I know it's crazy to just jump in like this, but it's a really cheap place, and we won't be able to buy or lease anything cheaper for hubby to start his business.

Plus, even if the sale falls over we won't be losing much.
 
Getting a restricted on license is alot easier nowadays. You will need to get cracking getting a DA in place which will require the vendors & bc signatures.
 
Been on to the licensing officer here and he reckons there shouldn't be a problem provided that we do all the stuff council will need us to do. Premises are currently used as an office, so we need to do the whole fit out, plus an ambulant toilet, ramp, etc..
 
Only 50k or so. Mostly it will be taken up with the new toilet. Everything else will be scrounged from second hand places, auctions, etc. Except the crockery, glasses, etc.
 
It's an accessible toilet for people with restricted mobility, e.g. wheelchair, crutches, etc. Hopefully we won't have any patrons who need to be attended to by paramedics in the toilet!
 
Beer and wine. And seasonal drinks. In winter we'll do mulled wine, hot toddies, port, brandy, etc. and in summer we'll do iced teas, etc. Yum!
 
I would purposely furnish it with odd looking sofas and coffee tables to give it the feel that you've dropped into a friend's house for a drink. Good luck with the venture and don't forget to serve tapas but don't make it a posh type of place to hang out.
 
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dex said:
delete at request of OP
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I sincerely hope this post is a joke, unfunny as it is :mad:.

Luce, this all sounds exciting, and a bit scary :). What is the plan insofar as opening hours, staff etc. Will you be helping with the running of the place? Do either of you have experience in this type of business? Are you near any other complementary food venues, or will you be providing nibbles or more substantial food?

I'm all for spur of the moment purchases too (once went for a walk, came home with a house). But this sort of caper is outside of my comfort zone.

Good luck with it. :)
 
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wylie said:
I sincerely hope this post is a joke, unfunny as it is :mad:.

Luce, this all sounds exciting, and a bit scary :). What is the plan insofar as opening hours, staff etc. Will you be helping with the running of the place? Do either of you have experience in this type of business? Are you near any other complementary food venues, or will you be providing nibbles or more substantial food?

I'm all for spur of the moment purchases too (once went for a walk, came home with a house). But this sort of caper is outside of my comfort zone.

Good luck with it. :)
Click to expand...

of course it's a joke, wylie!

i say kudos to you. i've always wanted to run something very similar to what you've just described, a 'bolt hole' establishment that cozy and warm in winter.

bar399 on William St is a perfect example of my kind of venue - minus the jars.
 
Yes, please, not the jars. They're so 2012. There is a small brewery that has opened up not far from home and I've wandered over there a few afternoons with a mate. They serve beer in jars. Last time I was there, I went up to the bloke who owns it and drew him aside and said, 'I've had a great idea for you. This will blow your mind. It's going to be great for business.'
'What?' He's said.
'Beer glasses.' And I pulled one out of the bag I was carrying and gave it to him.

The retro couches and coffee tables and stuff are all the rage in inner west bars. Cheap, too. And when they get too shabby, just toss them out and get another one from Vinnies.
 
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