Music Club for Lease in Bulgaria
I need to return to the UK due to family commitments, so I am offering the chance to lease a great business at a low cost, with NO ingoing investment. Simply run the club and pay the lease fee every month from your turnover. We will draw up a contract with a local lawyer and lease payment agreement via my accountant.
£500 per calendar month.
Long lease agreement can be negotiated
Bar is situated in Ruse City Center, Bulgaria, near the River Danube and border with Romania.
It is on a busy thoroughfare with good passing footfall.
This is fully-functioning operating business, currently operating with all necessary legal documents and licences etc and includes everything you need to get started in a new overseas business adventure.
24/7 monitored alarm and security system
Tables and chairs
All beer & alcohol stock
Glasses, mixers, measures etc
New ice making machine
Vacuum cleaner and cleaning materials
50" LCD Panasonic Widescreen wall-mounted TV
Newly-installed wood laminated dance-floor (cost £1000) and the customers love it!
Epson video projector and screen
Internet providing free Wi-Fi
5 piece drum kit
XBox 360 with wireless controller, Guitar Hero controller, microphones and dozens of games etc (the locals love playing with this!)
Dartboard complete with laser hocky
Safe, cash box
Store-room with extra fridge for beer storage
Additional storage area, used for drum kit etc
Music system with ceiling hung speakers, amplifier, crossover, sub-woofer, small mixer etc.
Two PCs - one is a top-spec Intel core i5 with 8GB RAM and 2 x 1TB Hard Drives with a Creative SoundBlaster Audio card which is used to drive the music system. Other PC looks after stock control and takings with software in English.
This PC is hooked up to the 50" TV and we use it to play music videos so the customers can see as well as hear their favourite tracks.
We also have a FaceBook page and there is a web domain name (I am in the process of developing a website) and these are included. Check out all the photos from some great live gigs on the Old School Face Book page.
We look to have a live band every weekend Fri or Sat and this is what brings in the money. One good event night takes around 600 leva which more than covers the monthly rent etc. We alternate the genre each week to appeal to all customers and have Reggae, Hip Hop, Rock, Pop etc bands.
We recently hosted Keira is You a travelling Polish band at the club and both the local and national Bulgarian radio stations came to record the live gig, giving us shout outs on the radio - free and excellent publicity!
Popular Reggae band Gan Jah Army also performed at the club recently
Portable Elephant put in an appearance last month
Ruse is a popular music city, with a renowned music university, there are many local bands across all genres and it is a Mecca for touring bands gigging their way between the capital Sofia and Bucharest. Bands actually call me to play at the club, there is no shortage of bands looking for gigs out here!
In Bulgaria, bands usually take money on the door (approx 2 to 5 lev) and we take money behind the bar from customers, this way it's a win win for both parties. With more popular bands, or bands from outside Ruse, they may ask for accommodation and or contribution towards fuel costs, but this is usually very low and negotiable.
I have a great local DJ (who is also a sound engineer and well known and respected throughout Ruse.) He helps me organise the live events and he comes in to play 60's 70's or 80's nights etc. We use the video projector to beam images around the club from the specific music era. The locals love these old style evenings and they are popular events.
When we have functions or live events, we may hire additional sound equipment from a very reliable local sound engineer, depending on the size and or needs of the band, and he will also work with the new owner.
The bar can be hired out for parties etc and we have recently held a birthday party and wedding reception which both brought in good money. During the week we have music available every night with customers able to request their favourite tracks. If they want to play darts, watch TV or play on the XBox 360 these are also available.
The bar is open Sun to Thurs 18:00 - 1:00am and Fri Sat 18:00 to 3:00am, but you can stay open longer if you wish to do so.
The law is so much more relaxed over here and you do not have the same restrictions on opening hours as the UK, so you can easily expand opening times if you wish to do so. There is also scope to open during the day because we also have a licence as a coffee bar and with a local music college on the same street, there is extra potential to cash in on the Bulgarian's love of all coffee and snacks when the students have their breaks.
We pay a local security firm who actively monitor the alarm system 24/7 and will turn out promptly. When I accidentally failed to reset the alarm entry code, they turned up within 2 minutes! I have push-button personal panic alarms for my staff to call for assistance if needed, but they have had no cause to do so as there has never been any trouble, this is more for my peace of mind to make sure my staff are okay. Two CCTV cameras are installed inside the premises, but they need to be hooked up to a video recorder or PC (was the next job on my list lol.)
We have recently re-registered the bar with the local Municipality for 2014/2015 and there is a Trash Tax (which allows you to dump all rubbish in the street skips for a year. This is 190 lev for the year and is paid up until April 2015.)
Cost of living in Ruse:
A lovely penthouse 2-bed apartment complete with roof terrace and Juliet balcony, costs me 450 leva per month (approx £185). Utilities are very very cheap (my water and electricity bill last month was only 15 leva!) Internet and TV is easily available and with a good speed/quality etc. (This is Europe after all.)
Food is cheap and there are fully-stocked supermarkets in this lovely city and food prices are much cheaper than the UK. (We even have a Lidl.) Plenty of places to eat out and you can have a two-course meal with drinks for two for around £10. A 500cl bottle of lager costs approx 85p!!
The weather out is here is a balmy 27 degrees right now and the forecast is for 30+ degrees all next week. Think about getting out of the rat race in the UK and watching the sun go down as you take a leisurely walk along the Danube River. I do it most evenings and it really is Living the Dream!
Living in Bulgaria
With Bulgaria being in the European Union, travelling and living out here is easy. To run a business as a foreigner you need to register a Limited Company, but it is both cheap and straightforward and I have a reliable local lawyer who will assist with the business transfer. If you wish to live out here, you will need to apply for a Temporary Residency permit after 90 days, but again this is very easy to do. You can, however, 'run' the bar from your UK base if you wish, as staff can comfortably run it for you on a daily basis and will pay bills and send receipts to the accountant for you. The choice is yours!
If you are genuinely interested, the best advice I can give is come out to Ruse and have a look at the bar and this beautiful country (you won't want to go home!) There are many local hotels and guest houses catering for every budget. And if you find the bar is not for you, well you will have had a cheap holiday in the sun! I suggest you will need up to a week, so I can show you everything and you can get familiar with the city.
I fly into Bucharest Romania from Luton Airport and get a transfer into Ruse (around an hour drive.) I know very reliable English-speaking drivers who can collect you at the airport and I would come along to pick you up. Bucharest Otopeni is the nearest airport and flights from the UK are provided by Wizz Air, up to 3 times daily. Their prices are very good and if you book in advance flights can be as little as £20 each way. It's really easy and cheap to nip back o the UK to see family and friends.
Can I just add, this is a low cost business with NO ingoing investment for someone wishing to get into the bar or music scene, but while there is very little work involved in running the business, please be aware it will never make you a millionaire, so if you are looking for a fast buck I would politely suggest this offer is not for you. Bulgaria is a poor country by UK standards, but it's people are rich in their friendliness and culture, happily welcoming new people into their midst. Most people under 35 speak very good English and the country has a low crime rate compared to the UK.
Please do not hesitate to get in touch if you have any further queries