Bars and Restaurants For Sale In Tenerife
Tenerife is a perfect location for a business due to its temperate climate and easy accessibility making it a very popular year round destination.
Many people migrate to Tenerife during the winter months to escape the UK weather, including numerous golfers who take advantage of the spring like conditions; in addition the ‘Eternal Island’ is alluring to innumerable visitors throughout the year. Hence, there are many tourist related businesses such as bars & restaurants for sale in Tenerife that benefit from a full 12 months trading, unlike other holiday hot spots.
When you are considering buying a business in Tenerife you have to adopt a certain mind set. Be clear as to what type of business you would like to view. There are a myriad of bars & restaurants for sale in Tenerife, of those available all will be priced differently, therefore set a clear budget from the outset.
From a business perspective setting up as a going concern is not that dissimilar to the UK. However attractive a proposition may look when you are choosing the business, consider that in addition you still have to pay bills such as tax, social security, rubbish collection, music licences etc. It’s wise to complete a full business plan, including cashflow, profit/loss and projections.
Businesses take just over a month on average to complete the sale and contracts, which is relatively quick compared to the UK, however waiting to get things done can take time and lots of patience. When looking bear in mind that you will need independent legal representation to assist with contracts and licences etc, plus you will need an accountant for taxation purposes. The more you cut corners the more that it is likely to go wrong in the future - take a mañana attitude and never be pressured or rushed into anything.
When buying consider the whole of the island, not just the south, tourism as a category is expanding, travellers not only visit Tenerife for the sun & sea culture but many for rural tourism, golf and the latest health and spa packages.
The positive reasons for considering a business in Tenerife is that the way of life is more laid back, however, the mañana attitude at times can prove initially frustrating – but the rewards do out weigh anything that people may tell you.
Businesses are numerous, as long as you plan, research, put together a cash flow forecast of everything that you think you will have to pay out in the first year, ask questions and never take anything for granted, then you will find your ideal business in Tenerife.
Our dedicated commercial department will be happy to assist you with finding your new business venture. To view our dedicated business website click here.
