My dad has offered my brother and I a pub. Should I accept it?

[Sgthaytham]

I'm truly very grateful for the offer. He's even told us that he would help organize it and make plans for the renovations.

 

It's in a rural village in the south of France, the same village we've spent all our summers for the last 18 years.

 

The auberge has been owned by several different people in the past, but they have all failed - principally because they've not known how to run it.

 

A part of me wants to turn the offer away because it's just too much to accept. My dad's been a great help to me for my entire life and I would rather be able to give something to him in return.

It's a bit of a dilemma.

 

My brother has several years of experience as a bar manager in the UK.

I've already started putting plans together for me to move permanently to France (before my dad gave the offer), so this is just overwhelmingly kind and generous...

 

I'm in shock.

 

Should I accept it?

[d0nnivain]

Being self employed is the fastest way to wealth. Your brother has experience. This seems like a business endeavor you may be able to make grow & then you can take care of your dad in his old age.

 

Other than your desire to make it on your own, I don't see a downside to accepting dad's help.

[normal person]

Being self employed is the fastest way to wealth. Your brother has experience. This seems like a business endeavor you may be able to make grow & then you can take care of your dad in his old age.

 

Key word being "may." Everything is a risk. You can do everything right and still fail due to reasons beyond your control. Did the previous owners fail just because they were incompetent? Or is it possibly just not a very profitable business model in that area, with that demographic, under current circumstances, etc.

 

Being self employed is the fastest way to wealth for those who are successful at it. Plenty of people aren't successful at it.

 

Other than your desire to make it on your own, I don't see a downside to accepting dad's help.

 

There's always a downside. If making money were that simple, everyone would be doing it. The downside is financial failure, just like the previous owners had.

 

OP, I'd suggest you do some market research, assess your risk tolerance, and consider things from there.

[JustGettingBy]

Do you have an understanding of where the market is going in that area and your target demographic?

 

Do you know the differences between UK and French laws that might come into effect?

[darkmoon]

have you got a time frame in which to decide if it is worth running?

 

is the trade merely seasonal?

 

will the locals want l'auberge to be run by non-French people?

[d0nnivain]

Key word being "may." Everything is a risk. You can do everything right and still fail due to reasons beyond your control. Did the previous owners fail just because they were incompetent? Or is it possibly just not a very profitable business model in that area, with that demographic, under current circumstances, etc.

 

Being self employed is the fastest way to wealth for those who are successful at it. Plenty of people aren't successful at it.

 

 

 

There's always a downside. If making money were that simple, everyone would be doing it. The downside is financial failure, just like the previous owners had.

 

OP, I'd suggest you do some market research, assess your risk tolerance, and consider things from there.

 

Accepting the leg up from dad is not an excuse for throwing out or ignoring all other business sense.

[normal person]

Accepting the leg up from dad is not an excuse for throwing out or ignoring all other business sense.

 

Nor is it anywhere near a guaranteed success.

[d0nnivain]

Nor is it anywhere near a guaranteed success.

 

True but that doesn't mean the OP shouldn't try.

 

If his choices are doing the market research, getting a business plan together & considering this vs. just outright saying "no thanks" because the funding is coming from dad, I think he ought to try.

[GorillaTheater]

Nor is it anywhere near a guaranteed success.

 

 

There's no such thing as "guaranteed success" in any endeavor in life. You take your best shot and let the chips fall where they may. Failure is one of the best learning experiences around.

 

 

OP, go for it.

[Art_Critic]

IMO, with this type of thing you don't look a gift horse in the mouth.. unless of course your Dad is like Satan to work with or be in business with.

 

What strings are attached is something to consider...

Will he be a silent partner, a loud one or just buy it for you and let you have at it.

 

I'd be all over it no matter what.. we make our own way in this world and what a chance that would be

[amaysngrace]

Seeing you succeed is going to help your Dad rest easy in his old age.

 

Graciously accept his help. He wouldn't offer if he didn't believe in your ability.

[normal person]

There's no such thing as "guaranteed success" in any endeavor in life.

 

So does that justify doing it? No. There are varying levels of acceptability and risk in the choices we can make in our lives. Ideally we need some degree of emotional satisfaction and financial stability. It's up to each individual to find out how to get each. Suggesting an aspiring actor quit their desk job to move to Hollywood and wait tables while they audition for movies for the next 5 years sounds very romantic at first. Talk to the individual after 5 years when they haven't landed any significant parts and are 30 years old still living check to check.

 

You take your best shot and let the chips fall where they may. Failure is one of the best learning experiences around.

 

Why not just liquidate your accounts and go to the casino, then? You say this like everyone has the same risk tolerance, risk profile, and desired outcome. Some people are fine letting the chips fall where they may and having things end in failure. Others aren't, and they can choose take the precaution to mitigate it. I'm just cautioning OP in the event that he's not as ok with potential failure as others.

 

Personally, I would never accept this be content with a "learning experience" as consolation prize to go along with my thousands of dollars of debt and years of wasted time. Even if it is a learning experience, it can also be a colossal waste of time, money, and resources if you don't know what you're doing, or even if you do. What if OP gave an honest assessment of his abilities, did his market research, and decided that this was a bad idea? You probably wouldn't still be suggesting he just "go for it." Merely having an opportunity doesn't automatically mean taking it is the best idea. If that's how you, or OP, or anyone else wants to live, that's fine. But I make calculated, conscientious financial decisions and not whimsical, emotional ones like I see other people doing. And yet for some reason I'm very successful and happy and those others aren't (either financially, emotionally, or usually both).

 

You have the philosophy "you can't win if you don't play, so play, and if you lose, so what?" and I have the philosophy "you can't win if you don't play well, so if you don't want to lose, you better make sure you're damn good, and even then, be prepared for losses beyond your control."

 

Not quite as pithy, I know.

[JustGettingBy]

Another factor to consider is the OP's current employment situation, which I do not believe has even been touched on.

 

Is the OP currently unemployed? In school? Underemployed? Qualified for something good and looking for an offer? Working their way up? Stably employed? Well off? Some combination of these?