www.CostaRicaTicas.com

Anyone confirm this?

There was definitely a For Sale sign on the front door last time I was in Jaco last week. The $55K price seems very low for that size building in that location so IF that price is correct, I would bet there are other problems that would need to be fixed such as a lien against the property from the government (like the Mona Lisa had), a lien from a bank that loaned money or a 'demanda' put against the corporation that holds the property. A very good real estate lawyer would be highly recommended for anyone looking at buying it.

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The only thing that matters is happiness in all it forms...

55k is for the condos out back....or in the rear if you prefer

I remember contacting an online realty listing for the place, right after Jacques sold it. The realtor was asking $4mil as I remember it. I emailed him back asking if he was on crack. Of course he got all huffy-- wonder what he is getting on commission now. Amazing how some investors can run a goldmine into the ground

Thats the truth, the Beatle was a license to print money and likely tag all free puta you could stand. Like the old saying goes pigs get fat, hogs get put out of business when the putas packed it up and went off to the Cocal

... And all because of a jealous woman.

mh

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mh

I actually got the prospectus on the place when it was for sale back in 2007 or 2008. I recall 3 million but maybe it was 4. It would be fun to dig that out now lol.

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Why settle for just one woman when you can enjoy them all?

That $3mil price probably didn't include the exclusive worldwide marketing rights to the Beatle Bar name

I found the Offer from July 2008...

Executive Summary

The Beatle Bar, located in Playa de Jaco, Costa Rica, has been operating for over 7years. Current ownership acquired the bar operation, the real estate and the licenses in November 2006. We are currently offering the bar, real estate, and the licenses for sale at a price of $3,500,000. This price includes all real estate, inventory, fixtures, appliances, equipment, the web site, patentes, and liquor license.


Brand Name and Recognition

The Beatle Bar name and brand recognition has grown to global proportions whereas it the most recognized and known name in all of Latin America and the United states as the most popular and visited bar/nightclub in Latin America. It is patronized by clients from all over the world and has become a central american icon.


Bar Operations

Since the time of acquisition, significant capital and operational improvements have been made. A substantial portion of initial cash flow and profits since the acquisition in November 2006, have been reinvested into the bar. These capital improvements of nearly $200,000 include major rewiring and electrical renovation, the construction of a new back bar, a new sound system, multiple sets of tables and chairs, renovation of kitchen, remodeling of liquor and beer storage areas, air-conditioning, new windows and front doors and multiple other upgrades.

Additionally, management has focused to improve service to our patrons. Our employees are trained to provide “American-style” service to our patrons. Employees are put through a rigorous training program for an extended period of time before they are hired and their performance is monitored closely. The result of this training and monitoring has been a substantial increase in the number of drinks being served at a higher level of customer service. As a result, the business has enjoyed a substantial increase in the average dollars spent per customer. Additionally, various layers of security have been added resulting in the minimizing of employee theft, over pouring , and improved inventory control and management.


The results of these upgrades have increased the seating capacity to over 200. These upgrades plus the enhanced service and atmosphere have allowed us to support the price increases of drinks, since January 2007. Additionally, the continuous growth in tourism and development in the Central Pacific region of Costa Rica has substantially increased the number of patrons who frequent the bar. Increased tourism, Increased drink prices, and renovations to the operation have all resulted in a steady and dramatic increase in bar revenues over the past several years.


The following table summarizes sales from 2003 through 2007 (the amounts are rounded due to exchange rates):

2003 2004 2005 2006 2007
Sales $572,000 $717,000 $847,000 $930,000 $1,313,000
Change from Prior Year 25.3% 18.1% 9.8% 41.2%


The above sales do not include revenues for merchandise sales, food sales, door cover charges or commissions from tour bookings. These three profit centers were non-existent prior to 2007 and were in the planning and development stages in 2007, and will generate a substantial amount of additional revenue in 2008 and future years.

Projected sales for 2008 are anticipated to increase from 37% to 52% over 2007 levels to $1,800,000 and $2,000,000 respectively.

Realistically, sales in the first quarter of 2008, excluding merchandise, restaurant, and tour commissions, through February 14, have increased by approximately 35% over the year 2007 figures.


Real Estate

The Beatle Bar sits on approximately 3,800 square feet of land, located on the in the key commercial area in town. The value of land in Jaco has increased dramatically over the past four years, where real estate prices have increased between 2 and 4 times their prior value and continue to rise steadily. In addition, as stated earlier, there has been approximately $200,000 of improvements made since the acquisition of the bar.

Licenses

The Beatle Bar holds several licenses to operate. These licenses include business, health, restaurant and bar and a liquor. These licenses, especially, the liquor license add substantial value to the business. All licenses are current and there are no outstanding citations or violations. Licenses are fully transferable and assignable after closing.

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Why settle for just one woman when you can enjoy them all?

The land is in fact probably worth 5 figures, but that's about it. When I first started moving my business to Costa Rica a few years ago, Beatle Bar was the place to be, and Monkey Bar wasn't too bad either. Either the owners got greedy because of the Los Suenos and similar crowds starting to show up more and more, or they were intentionally trying to drive the business into the ground.

I remember heading up there one Friday night and getting hit for the first time with the $15 wristband charge. $15 just to go in? I did pay it, and moved inside. This I had to see -- travel is my business and this was going to be a major game-changer in Jaco. It did not take a travel professional to see that. I had 8 friends/clients coming and immediately called them and told them to meet me at Copacabana in one hour. Even a bottled water in BB was $4, and of course, the girls instantly hit you up for drinks as soon as you walk in.

I met several regular working girls over the next few weeks asking why I and none of my clients had been in BB for a few weeks, and I basically said "BB has shot itself in the foot, I'd get out now if I were you." Over the next several months, I told several dozen friends and clients that BB was a lost cause and to steer towards other venues. Copacabana, Cocal, and a few other places variously through the past few years have been good places to go since then.

I remember sitting at a local bar in Jaco when one of the long-term door guys and two of the bartenders were telling me the place was closed. I laughed when they told me the price (mentioned several times above). I said, "I would pay for the land -- but the name, website, bar, and everything else is actually worth negative money. That place has alienated everyone so badly that it will actually cost money to cleanse the negative stigma and get people to start coming back."

In fact, if anyone ever does buy the place (which as of Sunday was completely empty with no signs or anything), the best thing they could do is raze the building to the ground or at least give it a huge facelift. As long as it looks like the old Beatle Bar, the negative stigma of that brand name will forever haunt it. I certainly would not keep the name.

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Interesting note, as you're facing the vacant building that was BB, there is a place just to the left of it (I forget the name). Above the entrance is a big sign saying "The Beatles", the date of their last concert, and some artwork of the faces of the 4 famous musicians. Sorry, I am not the bar/restaurant/entertainment guy of our team -- not my thing. I go to Hicaco or Langosta for a glass of wine and some fish about 6pm, then pass out in the hotel.

I think the owners might be trying to hook a few people that remember the name of BB, but other than that it certainly looks like an entirely different bar/restaurant setup and atmosphere. It was this past Saturday night and had a nice crowd and very good vibe about it.

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Yes, there is an identity crisis in the gulch, but that happens every few years. The following are my impressions of a few places (and impression, not fact, is everything in the entertainment and hospitality biz):

HLH, with the opening of the newer hotel rooms a few years ago, the elimination of the happy hours (they had 2 daily), the reduction of presence on CRT, and the reduction in frequency of the many advertised impromptu parties -- and now with a re-branding to Zona II -- has made a major paradigm shift from open, public-friendly bar/mp to more hotel-oriented, primarily for the guests bar/mp. I don't mean that guys off the street don't feel welcome, just that they are not the main focus any longer. That's the perception of myself and many others, whether it is intentional or not. This is not necessarily a bad thing. I still like HLH/Z2, I just find myself not going nearly as often.

Mona Lisa is a place that has been trying to find itself ever since it opened. My first impression every time that I walk in is "Colonial, just not as busy." Everything seems intended to draw traffic away from the community area in the center, and move it towards the poker room, the hotel rooms upstairs, and restaurant way over in the corner. The layout and formula work perfectly, once the customers and girls are there, but they're not there yet. Right now ML desperately needs something (or some things) drawing people in and keeping them in the general vicinity of that central bar. Once that center area fills up decently, then the "wings" of the place will work perfectly. For a full casino -- the lack of an ATM, the late opening of the floor tables, and the recent removal of many of the slot machines make the place feel a bit like a "going out of business" sale. There's just no "vibe" here, and that's what guys on vacation want. The many owners and managers, while friendly enough, always seem too busy to talk more than a few moments and are always scurrying about. I'm sure they are busy, but watching 3 or 4 owners/managers jetting through the main lobby on a regular basis with no one out there really getting face-time with the customers sends a bad impression. Either keep that activity behind the curtain, or hire a "liaison officer" that walks around chatting up customers so they don't feel they are being ignored by every guy that walks by.

Sportsmens Lodge has a great physical setup. The bar is wide open and up-front, so you don't feel like you're intruding upon the private space of the hotel guests. The owner and manager generally take the time to say hi to everyone, and if more than one of them are there, at least one is generally in the customer area not doing hotel business directly. He is talking to customers or is out there at the bar and available for chatting. You also have to like a place where the owners regularly eat and drink (not get drunk) at their own place. I worked for a bar manager in my much younger days that drank soda water on ice at the bar every night after he finished his duties. He didn't like to drink alcohol much, but the guests didn't know that, and a manager/owner walking around off-duty with a drink chatting up the customers sends a great vibe.

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Again, these are what I feel are the general impressions that these places have, and the "vibe" that they send out. As I said, I am not a bar guy, so mine are the impressions of a casual, not regular, customer. On the other hand, no one is never a regular customer unless they are a casual customer first.

Or possibly just for the business, and not any real estate. If there is just a "For Sale" sign on the building, where the bar was, it would seem to me to be for the business, unless the condo's were specified - whats interesting is, they were in business in Jan of this year - how about some financial info for 2012, or 2011 - 2007's numbers are acient history to a buyer.

OTOH, there are always plenty of rich dreamers who's dream was always to own a bar in paradise - no shortage of dummies out there; look at all the dreamers who buy bars elsewhere in CR, so I would not bet against them selling the place; either with or without the real estate. Even as a closed business. I just don't believe they are going to get close to their asking price - but I could be wrong.

The fate of the BB is a cautionary tale about a business highly dependent on public taste, in an industry with few barriers to entry (look at what the Cocal did to really decimate the BB's business) - most guys did not "like" the BB (are you listening, HDR), or their business model (a stupid high cover - $14 at one time ) and high drink prices; hell the place was not air conditioned for years) but since it was the best game in town <at least until the Cocal> people went there. Until they didn't.......

The old Beatle might be hard to sell now, with Jacques opening The Patio in the exact layout of his old bar next door. His daughter is pretty much running it he said. Went one afternoon and had to stop by and see if anything was going on at night yet. Negatory, that night. After a long afternoon, and under the influence of a Flor de Cana haze, I was having flashback hallucinations.