Can I do THIS with my money??!! AMERICANS WANTED FOR ANSWER?

First, put your money away for safekeeping. DO NOT INVEST. Come to NY and work in a bar for at least a year first. Then you can get a feel of what it is going to take, what to do, what part of Manhattan to have a bar, etc. It will take more than what you have to buy a bar there. But, what you CAN do is work in manhattan and see if someone wants to go in with you, and you can always buy a bar that is going under, or partner with someone. But come here and work first. Just offhand, I would think a place near NYU or near Central or Washington Square would be a good place. When you get here try Jake's Delimma, Don't Tell Mama's or Flatiron Bar for starters. All are in manhattan. They are all very different. Research bars first, and do a business plan first, and work in a bar. Good luck, and God Bless!

the only mistake you're making is not knowing anything about the bar scene in new york.

take some of the money you get and go there so you can see it first hand, make some contacts and get an understanding of what kinds of bars are doing well, where they're located, and why they're successful. know the numbers these places are turning before you commit a cent to your own bar.

220K really isn't much money there (unless it's a total dive bar in the hood) so you're really talking about putting your entire life's savings into a dream. i admire that on one hand but think that's your huge mistake if you just jump in without doing your homework.

visa's i know little about with one exception. money has always made it easy for people to come to the united states if the country is an ally. at worst you might be flying home every 6 months to get a new one.

btw, restaurants and bars are reputed to be the most likely failures of any upstart business in the united states. that may just be due to people always choosing one of those businesses, but i'd bet it has more to do with people just not understanding what sells food and alcohol yet they still take a shot without having the experience they need.

know too that the economy has had a huge hit on these places, many being off their customer base +40%!, so maybe that's a good time to get into the business because you could snap one up cheap but once you start operating it may not turn any profit until things improve which hampers you even more as you try to build a reputation and clientele for your bar.

good luck! if you do get a bar you might be able to pick up some of the staff who do know and understand the business, or better, find a partner with a proven track record where you can pool your resources and see if it works....though it so rarely does!

Ok, the best piece of advice I can give you is to start with applying for a visa. It's a relatively strenuous process. If they turn you down for residency, apply for a tourist visa, after your time in the US is up, work on getting residency. It worked for my parents ;)

But the fact that you are planning to open a bar, providing jobs should help you get your visa.

And if you don't have any experience in running a business maybe a few community college classes, even online, would help. You need to know what you're doing, opening a business is a huge risk and responsibility.

Good luck.

I don't know about a bar in america, but i just have to say that as an Economics student what people are saying about investing in gold is just as risky as in the stock market.

And saying that investing in gold means the value will always go up couldn't be further from the truth. Gold tends to go up when the market goes down and vice versa, it is a trend but not always true. The value of gold can and does drop, just like stones.

And high income accounts mean not touching the money from anything between 1 and 5 years, but then again you will come out with a handsome interest rate, best outcome being an added £10,000 to its current value per annum, depending on the account itself.

Why not become a silent or regular partner with a bar owner.

Use like half the money so you don't loose it all and make sure you check them out well with your lawyer as I have known a few bars/nightclubs to go under due to IRS seizure.

Once you get enough money from your investment, use it to open your own. By being a partner, you gain experience from someone who already knows the ropes and saves you from spending what you have on courses.

Good luck

Steve

http://clubcemetery.com/

shirley you jest.

You have $200,000 and you want to buy a bar in NYC? It will cost you that much for the license if you can find an old rundown phone booth. MAYBE you could find some one that would take you in as a very minor partner, but owner? MOST unlikely.

Sorry if this shoots down your dream, but have you thought of Toronto?

I don't think you have enough money to open a bar in Manhattan.

But, why won't they give visas to British people? ...and, is the inheritance $$ before, or after, inheritance taxes? that could mean you have even less.

Opening a bar in NYC will cost MUCH more than 220k-- probably more than double that amount. You need advice from a financial planner, and someone reliable who understands the pub business. Sorry-- :(

I LIVE in NY and i have seen very type of bar imaginable so u will have to come up with some outer space idea for a type of bar

You could not buy a space for a Porta-Potty in New York for that amount of money. A parking space in Manhattan goes for $500,000