Many 16-year-olds dream of being served their first pint – but Dundonian Mitchell Carling has gone one better and bought a bar.
Mitchell said he wants to follow in the footsteps of his parents, Graeme and Leanne Carling, who have numerous property and business investments.
He attended the High School of Dundee and Strathallan School before moving abroad, splitting his time between Spain and Dubai, where his parents are now based.
He left school at the end of last year to pursue his business dreams.
Speaking from Spain, he said: “I’ve watched my parents complete deals my whole life and I’ve never really known any different.
“From a young age I’ve been interested in making my own money. They were fully supportive when I said I wanted to leave school and get going in business.
“I’ve really happy to have started my own investment business and get my first deal over the line.”
Rangers FC supporters bar acquisition
The teenage tycoon has acquired Bar None in Benalmádena in the Costa Del Sol which is a Rangers FC supporters bar.
Mitchell has previously attended the bar to watch many of his team’s games.
“I support Rangers FC and would go to that bar to watch games with my family,” he said.
“We got to know the owner who was looking to retire, which made it an easy deal to do.
“The bar’s really popular among Rangers fans and has been on the go for more than 20 years.
“We’re now in the process of investing in upgrading the bar.”
£1m a year ambitions for Mitchell Carling
Mitchell is aiming to add around 10 hospitality businesses to his PTR Hospitality portfolio in the next two to three years.
He wants his business to be earning around £1 million a year by that point.
He adds: “I have no plan in working in a single bar. I’ve looking at big scale here. I’m looking to own a few – or more than a few – at the same time.
“I’d like to at least have 10 businesses in the next two or three years. Hopefully with EDITDA (earnings before interest, taxes, depreciation, and amortization) of more than £1m.
“I’m planning all the investments to be mainly hospitality, bars and restaurants, in Spain.”
Mitchell said having his parents on hand to offer advice and support will be invaluable.
“Ever since I hit early teens I’ve been interested in money and trying to make my own money and fascinated on how other people make money,” he added. “I’ve listened to loads of seminars and podcasts.
“I’m excited to get started in business. We’ve identified a pipeline of exciting acquisition prospects.
“Having my parents there for advice about deals and negotiations is a major benefit.”
In 2022, Mitchell raised more than £30,000 for charity by raffling his Rangers tickets for the Europa League final.
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