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CBBA
ESTATE AGENTS
COMMERCIAL/
RESIDENTIAL AGENTS/BROKERS
OVER
30 YEARS EXPERIENCE OF BUSINESS IN SPAIN
BUYING
A LEASEHOLD BAR OR BUSINESS IN SPAIN
Buying
a business is a very serious matter and not to be taken lightly,
l have been in Spain since 1976 and a commercial agent 12 years
and watched many businesses come and go. The businesses that
succeed, and there are many, are successful owing to the fact
that the proprietors have worked hard for long hours, did their
homework and got the location right.
A few years ago there were only a few agents selling businesses,
now every Ex Pat and ex bar owner with a bit of spare time
thinks they can sell businesses in Spain, unfortunately most do
not even speak Spanish, and this is essential when dealing with
the local authorities regarding licensing and legal
requirements. The number ONE rule for anyone contemplating
buying a business in Spain is only use an established agent who
is familiar with all the Spanish regulations.
Now
the good news:
Today
buying
a business is handled more professionally and handing over an
envelope with 50.000/100.000 pounds in to the seller with no
receipt are well over.
Businesses
should be sold at a valuation of 3 years profit and fixture and
fittings, also taken into account is the length of the lease and
the cost of the rent. If a business is in debt or closed then
the value is only the fixture and fittings.
Café
bars can be a good source of income but you need to be
professional, make your own pies, burgers etc. thoroughly
investigate the area in which you are buying and look at the
competition. A little imagination helps, do something different;
the day of the tea like mother makes has gone., as has putting
outside a bar cheap looking chalk boards with prices and special
offers scribbled on.
Unfortunately
the last two years of recession has caused many businesses to
close, this gives entrepreneurs looking to relocate to Spain and
open a business a great opportunity to purchase at the right
price, leaving more funds to invest and time to create a
successful business.
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Location,
location is always a must for some types of businesses, but
sometimes inland businesses can work very well, they
normally have a captive audience as thousands of ex pats
live inland.
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Before
signing a contract insist on an independent person to read
the contract to you in English and be fully informed.
-
Have
all debts checked by a Spanish lawyer or legal Spanish
person. You would be amazed how many agents sell businesses
with debts.
-
Look
at the electric (is it up to standard) and make sure the
business meets legal requirements as required by law.
-
All
landlords will ask for a deposit to be held until the end of
the contract, this can vary from 2 months to 1 year.
-
Always
ask exactly what you are paying for and ask for an
inventory.
-
Ensure
you have living expenses for at least 6 months to 1 year; no
business makes money from day one.
There
are some real bargains to be had, and with the right business
plan and lots of hard work can give you a good income and a
sunny future.
Before wasting your
hard earned money give me a call and be well informed
Linda
on00 34 96 6895110
or
00 34 670 33 4884
e-mail
linda@cbbaestateagents.com