Is Sharky Bar for sale ?
- MONEYBACKGUARANTEE
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- vladimir
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Is it, strictly speaking, a sale?
In 99% of cases one is merely taking over the lease.
I understand the concept of goodwill, but seriously, you might have a great guy running a bar, he sells the goodwill to a schmuck, and within a very short while goodwill is worth zero.
BY its very nature it is tied to the personality/practice of the original manager, so on eis saying...' ok, I'll sell you this, but it's only worth anything if you run the place exactly like I did'.
Which in most cases, never happens.
In 99% of cases one is merely taking over the lease.
I understand the concept of goodwill, but seriously, you might have a great guy running a bar, he sells the goodwill to a schmuck, and within a very short while goodwill is worth zero.
BY its very nature it is tied to the personality/practice of the original manager, so on eis saying...' ok, I'll sell you this, but it's only worth anything if you run the place exactly like I did'.
Which in most cases, never happens.
ירי ילדים והפצצת אזרחים דורש אומץ, כמו גם הטרדה מינית של עובדי ההוראה.
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I think it counts as "selling the business" because an amount of money changes hands that is more than the cost of changing the lease. What is this extra amount being paid for?vladimir wrote:Is it, strictly speaking, a sale?
In 99% of cases one is merely taking over the lease.
I understand the concept of goodwill, but seriously, you might have a great guy running a bar, he sells the goodwill to a schmuck, and within a very short while goodwill is worth zero.
BY its very nature it is tied to the personality/practice of the original manager, so on eis saying...' ok, I'll sell you this, but it's only worth anything if you run the place exactly like I did'.
Which in most cases, never happens.
Usually it's mainly for the location - there often aren't any empty premises available to fit out from scratch.
Plus you're sometimes paying for the name/goodwill - in the case of Sharkys that has some value as so many people recognise the name and it does have an established customer base.
As Vlad rightly says though, often the name and goodwill is only worth something because of the skills and personality of the previous owner. If the new owner doesn't have the same skills and can't stamp his own personality onto the business, it will struggle.
Also you're buying all the furniture and fittings. This may range in value from zero to quite a lot. To fit out a hostess bar from scratch costs $15-40K for example. Sharkys has a huge amount of furniture, bar stuff, music equipment etc but much of it is fairly old I think.
And you are often not even "taking over the lease" when you 'buy the business'.
With many lease contracts here the landlord is unwilling to change the name of the tenant in the existing lease - the seller is breaking the terms of the lease and loses the rental deposit (sometimes a year's worth of rent). The landlord uses it as an opportunity to make a new contract with an increased monthly rent.
So when a seller says "three years left on the lease" that's often worthless as the landlord will insist on a new lease.
A key issue to confirm with the seller is whether the sale price includes the amount of the deposit or not, as it can be quite a large sum of money involved.
- Felgerkarb
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Yes, seal lady, aka Flipper, was a friend of mine. She did get married I believe to a Dutch fellow and they had a nice looking baby last time I ran into them. Happy for her. Always angered me the way the Cambodian staff made fun of her, being a Yuon and deaf was a double whammy....but she took it with grace and was a lot smarter than most people thought.
The other famous Viet hooker there I ran into on 51 about a year ago, hooked up with some old gnarly git. Good on her too. Hookers pushing 50 are a tough sell.
Sharkys just needs the right firm hand at the tiller.
The other famous Viet hooker there I ran into on 51 about a year ago, hooked up with some old gnarly git. Good on her too. Hookers pushing 50 are a tough sell.
Sharkys just needs the right firm hand at the tiller.
====================
Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
- Falcon Randwick
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I'm trying to convince PotStars Cissi GuitarDemon to buy the place. Not sure she'll go for it, but you never know...Stramash wrote:I hope it stays as a music venue. There is a dire shortage of real venues for gigs in this city and there has been a move towards low key acoustic sets at restaurants and bars to fill that gap.
Sharkys is raw and dirty, both of which are good things for a music venue. But I worry that Big Mike IS Sharkys and vice versa. It's been his enthusiasm and knowledge of the music biz that has kept the place going and, imo, it needs another larger than life character to replace him.
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Buying a Bar in Cambodia101
If you hear that a bar owner has health problems and is selling his bar for a 5 or 6 figure sum, and you’re interested in the establishment, just bide your time.
Chances are that the bar won’t sell quickly and the bar owner will either leave the country for health reasons or die. Even if the bar owner doesn’t have health problems, they might just die anyway. It happens. Then you can negotiate a new lease with the landlord yourself.
For example, on April 1 2014, this was posted on khmer440
Now there is a tofu restaurant at that location. I’m sure that the owners of the tofu restaurant didn’t pay 40k to a dead German before opening their business. And if anyone wanted to take the venue over as a bar they would have also been able to negotiate with the landlord directly. Dead krauts don’t pay rent, so he/she would have been happy to get someone in as soon as possible.
So if you see a business is for sale because the owner has health problems, and you are interested in taking over, just wait and see if the owner kicks the bucket. It’s been known to happen in Cambodia. It might sound cold-hearted, but if you’re not prepared to stoop so low, you probably don’t have what it takes to make it in the world of Cambodian business.
If you hear that a bar owner has health problems and is selling his bar for a 5 or 6 figure sum, and you’re interested in the establishment, just bide your time.
Chances are that the bar won’t sell quickly and the bar owner will either leave the country for health reasons or die. Even if the bar owner doesn’t have health problems, they might just die anyway. It happens. Then you can negotiate a new lease with the landlord yourself.
For example, on April 1 2014, this was posted on khmer440
Later that year the owner died while the bar was still on the market.I put this on on this forum for a friend of mine. He wants to sell his bar in Phnom Penh. This cornerbar is at a prime location on the corner of 51st and 174th street. It is situated directly across the Walkabout, so in prime tourist area. It has recently been refurbished. Pictures of refurbishment are available on request. There is possibility for living upstairs. All interior and appliances are included in the price. The bar is 50 m² inside and has approx. 60m² ouside terrace area. Also there is parkingspace as well .Sound and video installation is also included, you will only need your own laptop This is a turn key opportunity in a toplocation with a lot of potential. The terrace is outfitted with all massive wood furniture. The bar has always been well maintained. Rent is 900 Dollars and rest of lease is 3 years with an option for further five years. The price is 40000 (negotiable).
Contact for further information : 093350712 or 0886522494
Now there is a tofu restaurant at that location. I’m sure that the owners of the tofu restaurant didn’t pay 40k to a dead German before opening their business. And if anyone wanted to take the venue over as a bar they would have also been able to negotiate with the landlord directly. Dead krauts don’t pay rent, so he/she would have been happy to get someone in as soon as possible.
So if you see a business is for sale because the owner has health problems, and you are interested in taking over, just wait and see if the owner kicks the bucket. It’s been known to happen in Cambodia. It might sound cold-hearted, but if you’re not prepared to stoop so low, you probably don’t have what it takes to make it in the world of Cambodian business.
- Chicagogato
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Spin it back to 2004 and leave it alone. I had some great nights there back then. I've been in here 5 times in the last 5 years. It was much more fun with taxi girls.
If barang bar owners die the WAG's (wives and girlfriends) often take over.
pew, pew, pew, pew!
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That all might be true, but it's a bit harsh don't you think? Almost like a death wish on the poor chap. It also doesn't help that any potential purchasers might stumble across this thread.
Just saying ....
I don't think anyone here would willfully wish any harm on the current owner, either financially or otherwise.
Just saying ....
I don't think anyone here would willfully wish any harm on the current owner, either financially or otherwise.
i can speak come-eye
- The Window Licker
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I wonder what ever happened to shin kicker on the left? She'd have been a hard sell even at 20. I see the other two girls out around the city often.
The deaf and dumb girl is often seen sat at that same outside table at Paddy Rice with her new family. Glad she ended up OK out of it all.
The city's screaming out for that place to be turned into what it once was.
The deaf and dumb girl is often seen sat at that same outside table at Paddy Rice with her new family. Glad she ended up OK out of it all.
The city's screaming out for that place to be turned into what it once was.
The deaf and dumb girl got lucky for sure. I see pics of Sharky now that it is a music venue and it seems to have a smattering of back packer types and that's all. The city has changed dramatically in such a short time, is there anywhere left in the world that still has what Phnom Penh had- I don't think so.
Anywhere that had a war when the cold war was bubbling was similar, Mozambique and Angola come to mind. But neither country can be compared to the utter horror that befell Cambodia and then it's invasion by UNTAC. It's geographical location being amongst the tiger economies and its strategic advantage in being able to play off the US against the Chinese have seen the money roll in to Phnom Penh.
Anywhere that had a war when the cold war was bubbling was similar, Mozambique and Angola come to mind. But neither country can be compared to the utter horror that befell Cambodia and then it's invasion by UNTAC. It's geographical location being amongst the tiger economies and its strategic advantage in being able to play off the US against the Chinese have seen the money roll in to Phnom Penh.
- Sharky Bar
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In response to the various comments posted recently on Khmer 440 regarding Sharky Bar being for sale, I would like to address this as I have just returned to Phnom Penh from New York last week.
As many people know, several years ago I contracted a disease in my legs which requires me to return to New York City hospitals every 6 weeks for medical treatments. From time to time, I have posted on Facebook various photos of me, from my New York hospital room, getting medical treatment. Some of my FB friends wanted to see what it’s like to get infusion therapy. There is no cure for this disease and it is progressive. Recently, I hurt my hip bones and this resulted in making it harder for me to walk and just added onto my other ailment. The constant flying back and forth to New York from Phnom Penh and back every 6 weeks is tiring , expensive, and extremely difficult to manage a Bar with this type of medical obligations.
Sharky Bar has just celebrated its 20th Anniversary on December 5, 2015 and I am very proud of having achieved the status as “The oldest Expat Bar in Cambodia” as we opened our doors in early December, 1995. Those of you who know me understand that I now wish to leave my legacy to the contribution of a successful Western run business during a very difficult time during the ‘90’s through 2005. I wish to sell Sharky Bar and to leave on a “high note” if possible. Many of you are my friends, and I know that there are many Khmer 440 bloggers who are also Facebook friends of mine, which is nice. I believe that over the years, I have managed Sharkys to the best of my ability and did what I felt was best for the business and for our patrons. My Partners in Sharky Bar also agree with my decision that it’s time to call it a day out of respect to my medical difficulties.
Thank you all for your support and even if you don’t support me, thank you for taking the time to read this. I have attached a link from the Cambodia Daily December 2015 issue which goes into greater detail re: the history of Sharky Bar from its beginnings until now if you care to take a look.
https://www.cambodiadaily.com/culture/g ... gs-103348/
Please contact '[email protected]' or PM here if you have any questions, or would like more information if there is any interest in purchasing a piece of Cambodian expat history for further development.
With appreciation and respect to all,
Big Mike – Sharky Bar
http://sharkycambodia.com/
https://www.facebook.com/Sharkycambodia
#126 - St.130, Phnom Penh - The longest Running Rock 'n' Roll bar in Indochina
https://www.facebook.com/Sharkycambodia
#126 - St.130, Phnom Penh - The longest Running Rock 'n' Roll bar in Indochina
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