My friends ( very keen to move to France) have seen a restaurant for sale whilst on their hols that price wise to me seems too good to be true.
It is in a good location so they assure me and has ample living accomodation over the restaurant and kitchens etc. The price for the building seems very reasonable, but it doesn't mention ' good will' ( is that the term used in the UK when you pay extra for taking over a business?) does such a thing exist in France?
I know they will do their homework and not rush into anything, but I just wondered if the price they have seen will be the price that they will pay for a going business.
Have they been in the restaurant trade before?
My dear wife who in the pub and restaurant trade before I met her has only one piece of advice for those contemplating it - don't.
Obviously, some will disagree with this but her point is that it is far harder work than you will imagine. If th chef decides that he is unhappy about something he will storm off and you then become the chef. You have to deal with the public, and just look at some of the threads here complaining about some of the overdemanding public.
So make sure that they realise what they will be letting themselves in for.
They are both in the catering trade already and have been fairly sucessful although obviously doing things in France is going to be very different.
Apparently the place is advertised as 'fonds de commerce' which if I understand the first reply properly this is for the good will. Now I know I said that it seemed a cheap price for a building but it seems a lot of money to fork out just for 'good will' , would they have to then pay a monthly rental on top?
The really confusing bit for me is that the advert also stated that there is constructible building land with it .
They are en route back to the UK from the SW of France so I won't be able to speak to them again until after the weekend.
Hi Viv,
I went skiing last year in the Alps. We found a lovely little Italian bar run by a larger than life Sicilian. The beer, prices, pizza, music and atmosphere were spot on. He was full every night all you could hear was that till ringing. However, he told us he was soon to return to Italy. He was paying so much is charges that it was just not worth trading in France. I really was such a shame.
Jc wrote:Following up on the post about a chef "storming-off"-... also staying in a small hotel in Devon...
Not a place in Torquay run by a chap called Basil by any chance?
Seriously, if something seems too good to be true it probably is. It is, as previous posters have said, not easy to earn a living in France and there are a lot of restaurants and bars for sale, many including the buildings as well as fonds de commerce. It is with these that the bargains are to be found, because even if the business fails you will still have a building which, subject to conditions which you should check out, could be converted to a residence. There are also some real little gold mines of bar/restaurants, particularly those in towns and on main roads which attract a good lunchtime trade, and those in popular tourist locations - though they tend to be hard work and seasonal.
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