buying a bar

Hello Daydreamer,

If you could create something neat and unique that both tourist and locals would go to and enjoy that served food and drinks - you could make it. Cheeseburgers and Off the Wall come to mind as the type of places both visitors and residents enjoy and have a unique relaxed atmosphere. I would definately suggest you and your friends plan a visit/pre-move vacation type thing where you can look around, find a great location, visit bars that exist, talk to people, talk to residents, talk to people at bars, bartenders - anyone and see what folks that are there are saying, what the bar scene is like, what they could use or what would do well.

What other questions do you have? Overall I would say don't try to just make a tourist type bar unless its close to a hotel, if not then focus on both tourist and residents. Plan a trip to research.

--Islander

We are certainly planning a research visit. We are really leaning on our friend that used to own one there. He did pretty well with locals and tourists. I would imagine that bars tend to come and go. What is the status of the cruise ships in STX now? What is the season, etc. I had heard that the ships sometimes come for a couple years then stop. Will STX stay on the cruise destinations?

No major cruise ships will visit St. Croix this season. There have been a couple of small ships scheduled. Last one cancelled because of sewage problems in Fredricksted.

What bar did your friend own?

I have never asked the name actually. I never thought about it. It has been about 4 years ago. Without the ships is there much tourism? It seems in a place that small that you have to save the money from the tourist season to survive the summer. I'll ask my friend and let you know. I would rather STX than STT because of the associated costs. I know of a couple bars for sale on STX now but none on STT.

I like St. Croix a lot. Any business you start would probably have to appeal to both tourist and resident. Good Luck.

I FORGOT! There is a small hotel/restaurant for sale near me. The Cane Bay Reef Club and Bogey's Restaurant. I forget the price and it looks like it needs some work, but is has 6-8 units, a pool and is right on the water.

I know they have a web site, check it out.

Post Edited (01-21-04 11:09)

I will check it out., thank you very much.

Daydreamer, one thing the Island lacks is a frozen margarita machine! Want to make money, capitolize on that. Kate

I don't think you need to worry about the tourists drinking in STX as there are a bunch of locals that drink and would keep you busy. Just need to have something appealing. St. Croix does not seem to have anything looking like tourist appeal if you ask me. It will never be able to be like St. Thoas, much to it's advantage I believe. If you want a laid back place to relax at, St. Croix is the spot. Don't get me wrong, I belive ST> Croix is a great destination, justthat it's marketed wrong, that's all.
I also understand that there have been closings of over 50 businesses in Christiansted alone, this past year, so being tourist related may not be an asset.
Ronnie

Ronnie is right. We like STX because it is not touristy or except when school lets out in the afternoon, impacted by heavy traffic. Tourist type business that are not well establish do not produce profits. Local bars and self run restaurants can survive the slow times and sustain themselves. But if you spend a lot of money to capitalize you will soon find yourself in trouble..One great success here "Cheesburgers" is for sale, but is not grossing what it once did. I once owned a bar/restaurant in a resort (other time and place). I ended up bankrupt and divorced. ..but I'm happy now...

good luck

We met a fellow who opened a cute restaurant in St. Croix and was hurting in a BIG way due to lack of business and he was in one of the busiest areas. He had taken all his retirement money to open this place and last time we were there (last summer) he was not doing well. Be REALLY careful and don't let someone sweet talk you into something. Don't forget the cost of getting your supplies will be much high than in the states. Also, with few tourists going to STX the local economy isn't too great so they won't have the money to spend either.