Joey_Jeremiah

feel free to post here if you're interested in full0time work where you may work from home. you may also contact me directly through the PM feature on the BB. please let me know what kind of experience you have and what you've done. ingats!

By the way, when you say resto/bar, what kind of place are we talking about? Pier 1 is a resto/bar but isn't quite in the same league as Venecia (before). Metrowalk has lots of restaurants that add bar components but are technically restaurants w/ small bars. Malate has the reverse, bars w/ food. All of these places sort of fall under the category of resto/bar.

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i'm actually thinking more along the lines of a bar that serves food, but has a fine dining menu--catering to the high-end crowd (tourists, businesses, a-crowd). there would also be a delivery and catering service along with it. something that would make money 24x7 (breakfast, lunch, dinner, late evening drinks).

what do you think? no real gimmick to it yet...still thinking of something unique right now, until all the money is pooled together. probably not for another year or 2.

rickyv is definitely correct about the lifespan of bars/resto in Metro Manila. When you factor in your initial investment, you've to calculate at least 3 months worth of running expenses (electricity, supplies, water, phone, salaries, others). This is to ensure that you've got the capital for operations for the initial period. After you come up with your concept list, arrange them in order, that way you have an idea what order you'd like to "use" them. On the other hand, location is really the bitchiest thing to figure out.

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what about the high-end places? is the industry just as fickle when it comes to location?

Greenbelt has reached pretty much near saturation point.

The good news is that there is an existing market.

The bad news is that you'll have to compete with other resto/bars.

 

RoI in 3 years? Can be done, though Php10M is pretty small considering:

1.) Rental (of place), Ayala likes to charge fairly high.

2.) Renovation (including sound system, lighting, etc.)

3.) Staff salaries & training. Yes its easy to get idiot waiters here in the Philippines, but to get effective ones takes a LOT of effort.

4.) Launching Party - To be effective, you've got to get a good marketing crew. I was in the club biz for about 10 years. All I had to show for it was ulcers.

 

Hope this helps.

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if P10M is not a lot, what would be a more appropriate amount? how much would be allocated to rent, staff, renovations, etc?

Joey_Jeremiah, the traffic in the area is increasing, specially once Serendra gets built. The questions are:

 

1.) Where are you going to situate your bar/resto?

2.) What is your concept/gimmick to attract customers?

3.) What is your ideal RoI and profit margin?

 

Not to discourage you, but without a really good concept or gimmick, the chances for a long-lasting bar/resto isn't that good. Of course, I could be wrong.

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Thanks for the responses!

1. greenbelt comes to mind, where there is a high amount of traffic. somewhere located near other high-end bar/restos. this is in-line with focusing on our target market.

2. still under development

3. have not worked on the financials yet, b/c i'm still trying to gather more information on the industry there. trying to understand what works over there, what hasn't, trends and patterns over the years, and of course, the financial history of what others are earning (at least an idea). ideally, i'd like to make my money back within 3 years to turn it over into another one and continue to grow every 3-5 years.

Php10M is a number that i've heard before when starting one up. would this be just to start it up? is this just the downpayment for a loan? what investments/expenses are associated with the 10m?

i'm interested in putting up a resto/bar in makati or the fort. can someone help me? i'd like to know about the area's traffic, prime locations, and pricing. what do you guys think?

Just curious if there are people living outside the Phils who would ever consider moving permanently back and make it their home again after experiencing life in another country.

anyone doing BPO or web design? there's an opportunity to hook up...just PM me.

can anyone here do design work for print media? i may have some jobs for you...PM me for details.

Foreigners are not allowed to own lands in the Philippines.  Strictly speaking, a Filipino who lost their citizenship are supposed to dispose of their landholdings in the Philippines or face the confiscation thereof by the Philippine government.  So unless your parents have not lost their citizenship (by becoming full US citizens), they should not be owning any land in the Philippines.  Note that it does not say that they cannot, only that if they do and the government finds out, they can lose it. 

 

On the part of your  citizenship, you must determine if you are considered a Filipino in the Philippines.  Being born in the US is not really a reason why you cannot be considered to be a Filipino.  If you are registered in the Philippine census as a child of Filipinos, then you can be considered to be a Filipino citizen and thus can own real properties in the Philippines.  But because you are also a US citizen (I assume), you run the same risks as your parents.

 

To be safe, if you want to own a residential real property in the Philippines, your best bet is to purchase condominium units instead.  Foreigners are allowed to own as much as 40% of a condominium project (meaning if there are 100 units in a condominium bldg., foreigners can own 40 units).

 

Hope this helps.

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thank you for the response! i'm looking to buy 20 hectares. the land my parents own are in my cousin's name and can/will be deeded over to my dad.

any ideas on how i can buy the 20 hectares? should i buy this under someone else that's a filipino citizen and have a binding contract with them? what about setting up a partnership with other filipino citizens and buy the land through the partnership?

hey guys! i'm looking for a webmaster to work on a contract basis. i will need some websites that need to be constructed along with a bulletin board system. it will mostly be a set of galleries that need to be updated with pictures from a database on a daily basis, as well as some content. let me know if any of you are interested by pm'ing me.

hi! i'm from the states and looking to buy 20 hectares of land in the phils. my parents both left the phils in the late 60s and are fully US citizens. Because I was born in the states (my older sister was born in the phils), I don't think I can buy the land myself.

How can I go about buying the land? would i have to have my parents get their citizenship back and buy it through them? do i incoporate and buy the land through the company? how do i go about this?

thanks in advance for any advice!