The Spanish economy is experiencing continued growth and the future is looking bright. The Spanish economy expanded at a sturdy rate of 0.8% in Q1, the unemployment rate is falling and there is a real sense of optimism in the real estate sector throughout Spain. The export sector is benefiting from strong global demand. The IMF predicts that the UK (2.0%) and the US (2.3%) will be among the top performers when it comes to the world’s large economies in 2017. The IMF estimates total global economic growth for 2017 will be 3.5%.
Growth for Spain in 2017 is estimated to be 2.6%, up three-tenths on the last forecast, in January, and putting the country slightly ahead of the United States and Britain in terms of GDP growth for this year. Reform is still needed and employment contracts and Social Securtiy payments are areas of great concern for the forthcoming budget 2017.
There's a long way to go, but the corner has been turned and we are seeing enquiries for businesses increase and confidence is returning.
Business Broker Spain over the years has become one of the largest business brokers in Spain. Founded by Nigel Fitzpatrick and Mervyn Hughes in 2011 after re-branding from being associated with a large business transfer agency based in the UK. Nigel initially worked the Costa Blanca area of Spain and Mervyn the Costa del Sol and the logical step was to amalgamate these areas and join forces to grow the brand. Through sheer hard work, determination and tenacity we rode the recession of the early 2000's to develop other areas of Spain where Business Broker could thrive.
Short Bio's of the Team at Business Broker Spain
Nigel Fitzpatrick - Director.
As mentioned previously, Nigel is Director of the company and founder. Nigel has lived in Spain for the last 12.5 years, married with a daughter that was born here. His background is varied, worked in Australia at the age of 20, he owned a very successful bar/restaurant in the UK at the age of 22. After selling this he was ready for his next challenge and joined the family hotel business and eventually ran the business and sold it in 2003.
Business is in his veins, and he is passionate about success and the brand he has helped to create. Another passion is rugby having played in the UK and Spain, also coached in Spain but injuries and old age has finally caught up!
Mervyn Hughes - Director.
From the age of 25 started 2 manufacturer business, conservatory and garden rooms and fitted kitchens. Build this up and sold out for substantial profit after 10 years. Owned and operated 3 Mexican themed restaurants in Kent again sold out to a national chain. Joined a national company as Sales Director responsible for 30 salespeople with a turnover of 10 million plus. Invited to join LaSalle one of the UK largest companies dealing with mergers and acquisitions as regional director with deals in the 5 million plus sector.
Stressed out at the age of 47 went to Marbella to open a professional business brokerage, joined and merged with Nigel Fitzpatrick in the Costa Blanca to form the largest and most trusted professional business brokerage in Spain. The rest they say is history.
Daren Martin - Director.
Having studied at Royal Tunbridge Wells Grammar school for boys I moved quickly into the Stockbroking business I was quickly into the financial options field and exchange traded options where I traded various different exchanges throughout the world I finally ended with 15 years on the LIFFE where I was a Director of the then SwissBank Corporation (later to be Union Bank of Switzerland)With the exchanges swapping from open outcry to computers I set up a firm using electronic trading platforms but decided that it wasn't for me after a couple of months.
From there I have ran several small business in the UK from selling telephone systems to lodge homes, and I am passionate about business and helping others fulfil their dream.
About 7 years ago I had kidney failure and decided to move to the Costa del Sol where I embraced the opportunity to become a Director of Business Broker Spain.
Alejandro Scholtz - Associate Partner, Malaga City & Almeria.
Alejandro E Scholtz is a serial small business owner turned business broker by pure good old trial and error. Having recently moved from Miami Beach where Alejandro bought and sold several internationally recognized Quick Service and Health & Fitness franchises he owned, Alejandro has made a profession out of the confusing and error intolerant process that is acquiring and selling a functioning business. He studied Business Administration at the University of Colorado and received his MBA from Babson College. In his free time, Alejandro enjoys playing golf, cooking things he has no idea how to cook and reading at the beach. Grateful for an amazing group of Coworkers and Mentors at Business Broker Spain, Alejandro makes sure that buying and selling a business feels more like going prepared to the beach than trying to slay a beast.
Kevin Cook - Associate Partner, Costa Blanca South.
Kevin is professional business manager with wide ranging experience of working with blue chip companies in the private sector, the military, and local government. He studied for his MBA at Durham University Business School, with a focus on entrepreneurship. Kevin loves seeing new businesses get off the ground and thrive.
Kevin has a real affinity with Spain and loves to travel. He enjoys most sports particularly rugby, golf and football and strives to keep fit at his local health and fitness centre.
We are proud to welcome on board two new Associate Partners, Alejandro Scholtz who is managing the Malaga and Almeria territory and Kevin Cook who now manages the Costa Blanca South.
Both have a wide experience in business and will be great assets to Business Broker Spain, Alejandro has previously worked in Miami, Florida and has moved across the Atlantic with his wife for the new challenge.
Kevin, has been on the Orihuela Costa for a number of years running his own property business and he sees the fantastic opportunity to manage his own territory.
After some intense classroom and field training both partners are now active receiving continued support from Head Office, and we would like to take this opportunity to wish them the best for their new and exciting futures with Business Broker Spain.
Head Office has also relocated to new premises in the heart of Javea's Old Town, 10 Calle Arquitecto Urteaga. This is a perfect location for us to manage our operation and greet clients.
The Old Town is steeped in history and when clients do visit us we love nothing more than showing them the "pueblo" and having a wander down the ancient narrow streets to gab a coffee.
Once Business Broker Spain has been instructed to act on your behalf in the sale of your business, we take full details of the business and internal and external photos. Part of the discussion with you the vendor is to ascertain if the business is being sold confidentially or if you prefer a full description and photos for the marketing.
The complied details of the business are passed to Mr Nigel Fitzpatrick, Director and head of the deal team. The business is added to Business Broker Spain's website with a reference number commencing in “BB” An email is sent to you informing you that the listing is live and asking you if you would like any amdendments making. Once we have confirmation that the listing is your satisfaction we then activate the XML feed which will link into the numerous business portals such as BusinessesforSale.com, ThinkSpain & Kyero.
The pro-active service is now begun, with the deal team matching your business to our large database of clients, details of the business are sent and phone calls made. Contact is made to our collaborators around the world for them to contact their clients to establish if the business is of interest. The networking web begins to get spun, with the main aim of getting your business in front of as many buyers as possible.
At the end of month one we contact you to update you on how the marketing is proceeding and we inform you of any serious interest, you will receive these reports monthly.
Once we have a serious client interested in your business we qualify them to establish their timescales, budget and more importantly if they have funds in place to proceed. No sensitive information will be released to the client until our NDA has been signed. This document is a standard non-circumvention and non disclosure agreement which not only protects you as a vendor but protects us as the broker. Our experience over the years has taught us that clients which are genuinely interested will sign the document which takes us to the next process.
When the NDA is completed and signed, we will request the last two years trading figures from you and any other information te client has requested. It is vitally important that you respond promptly to this request. A client will not be prepared to go to the expense of travelling to view the business without any trading figures. It's very important that you understand the clients needs, why would a client pay hundreds of pounds/euros for flights before seeing the performance of the business?
The figures and business information is sent to the client and discussions are had with the client about the business and the about the “true” performance. Our job is now to sell the business and encourage the client to view. The process can be lengthy, it's very rare a client can drop everything and be on the next plane over, however we understand this and no pressure is every put on a client simply because desperation leads to fear.
One of the Directors always accompany the client on a viewing and we try and keep this as relaxed as possible letting you the vendor show your business and to a certain extent control the conversation. Client's like to hear and see that you are passionate about your business, and during the viewing this is a good time to showcase this. Once the viewing has been completed, and the client is satisfied our Directors will chat about the business and the potential it offers and if the client wants to give feedback notes are taken to pass onto you the vendor. We give the client a few days to think about the business and we contact them for feedback and establish if they are interested in placing an offer and obviously report back to you.
The deal team's job is now to establish a firm offer and the clients timescales to purchase. Nigel Fitzpatrick will negotiate with the client on your behalf to broker the deal and get you the best price possible. If there is an agreement, we will confirm via email and request your lawyers details putting your lawyer in contact with the vendors lawyer. Deposit contracts will be drawn up and the deposit paid into the lawyers account, with a date for completion.
Business Broker Spain thanks you for placing your business and trust in us and we assure you of our best attention at all times.
Business Brokers act as intermediaries between buyers and vendor's of a business. They may represent either party in the transaction, and do not take possession of goods or property, or deal on their own account. Brokers fill the important marketing function of bringing buyers and sellers together and helping them negotiate mutually beneficial agreements. In addition, they facilitate transactions by providing expertise and advice.
Brokers provide numerous benefits to both buyers and vendors, for example, vendors benefit because they do not have to spend time searching for buyers or vetting potential purchasers.
Qualified Brokers have access to a large data base of clients that are in the market to purchase a company, and they know how to attract and screen potential buyers much more quickly than do typical business owners. The Broker may also be able to help the vendor place an accurate value on his business, devise a strategy to transfer ownership over time, address necessary paperwork, and overcome legal hurdles through the escrow process and more importantly have proven routes to market to insure a prompt sale.
The buyer also benefits from the Broker’s access to business buying and selling channels. A buyer that goes to a Broker may be able to find a business that suits his abilities, wants, and financial situation much more quickly than he could working independently. Moreover, good business Brokers will not accept businesses that are overpriced, dependent on illegal activities, or otherwise fatally flawed, thus saving buyers the legwork of finding this out for themselves. (Business Broker Spain rejects as many as half of the businesses that they are asked to sell for these reasons mentioned above!) In addition to screening, the Broker can help the buyer determine what the client can afford and may be able to assist in arranging financing to purchase the business, and, as with vendors, business Brokers can provide help with licenses, permits, and other paperwork. It is the Broker’s duty to ensure that the interests of the buyer (and the vendor) are protected by any contracts or agreements such as an NDA relating to the sale.
All of these services can be of great value to business buyers and vendors, but perhaps none is as valuable as the Broker’s position as a buffer between the two sides. The skilled business Broker will diplomatically field and address sensitive questions and issues that, if left directly between the buyer and vendor, might damage or ruin the prospects for completing a deal. Brokers that can address the concerns of one side without offending the other are invaluable to the negotiating process.
For more information contact us at email@example.com
Business Broker Spain's client Susie Western had a dream to follow her passion for dogs and leave the UK to purchase a dog kennels here in Spain. Susie wanted to do this on her own, a brave move for some, but Susie embraced the challenge and followed her dream, yet it didn't turn out quite as she could have foreseen!
Business Broker Spain worked closely with Susie prior to her viewing trip to fully understand her needs and budgets. We prepared a portfolio of businesses for Susie, and once she had signed our Confidentiality Agreement we were able to send her the full prospectus for each business she was interested in.
Viewings were arranged and Susie came to Spain, we accompanied her on the viewings from Cartagena to Jalon offering our advice where it was needed. Susie fell in love with Maserof Kennels on the outskirts of Jalon, an offer was placed and after some negotiations she managed to have an agreement. The completion was in June 2014 and Susie has never looked back!
It's been a hectic time for Susie, she has rolled her sleeves up and begun reforming the kennels, and making a home, working 7 days a week to do the improvements, which she certainly has done, the kennels are looking fantastic. The business is buoyant and very busy, new clients arriving all the time from recommendation from happy clients. Word of mouth works wonders for business!
Not only has Susie built a very successful business, she has found time for love! Having just got married! She met her fiancée in England, prior to coming out to Spain on her own, they kept in contact and as they say the rest is history!
Not every story you read about ex-pats coming to Spain is doom and gloom, there are plenty of success stories, but they don't sell newspapers! Many of our clients came to Spain with a plan, worked hard and have been very successful
Business Broker Spain offers Susie & Andrew every success in their future together and we wish them well in continuing to build their super business Maserof Kennels.
Follow your dreams, and Business Broker Spain will help you achieve them.
We received this testimonial from Susie
"Nigel went the extra mile throughout the process, from helping me to arrange an itinerary of prospective purchases, through weighing up the pros and cons of the businesses to ensuring my chosen business purchase proceeded smoothly for me.
Nigel's assistance in helping to make the contacts required here in Spain, even after the business purchase had been completed, proved his dedication to his clients, willingness to help and the emphasis he places on client after-care.
Nigel is trustworthy and very passionate about his business and really works hard on his clients' behalf to ensure their dreams come to reality.
I have no hesitation in recommending Business Broker Spain to anyone that is considering purchasing a business in Spain."
Business Broker Spain has handpicked strong investment opportunities for the discerning investor. Whilst ultimately representing our instructing client, we respect the fact that those seeking to invest in new opportunities are themselves, successful entrepreneurs and have achieved such status only by making many shrewd investments over a period of time.
Our aim is to work with you, to assist in developing your investment portfolio. We listen intently to your requirements and seek to fulfil your objectives swiftly and efficiently.
If we currently do not have for sale the investment opportunity that you are seeking we are more than happy to go into the market place and source suitable opportunities for your consideration.
Please remember that the value of your investments and any income from them may go down as well as up and you may not get back the amount originally invested.
For more information contact us at firstname.lastname@example.org
Purchasing A Business in Spain
Buying a business in Spain is a relatively straightforward process, particularly if you are well advised and are dealing with professionals with first hand experience in the market. Here at Business Broker Spain, our management between them have more than 25 years experience in the sale of businesses in Spain. We doubt sincerely whether there is another agency with this level of expertise. From the sale of their first Spanish business in 1990, our Directors have advised in the sale and purchase of literally thousands of small and medium businesses throughout Spain. As a buyer you have no fee to pay us, all of the businesses that we sell are commission inclusive with all of our fees being paid by our vendor client’s.
Business Broker Spain offers impartial advice and helps you through every step of the process, and the golden rule we tell all clients is this “If you wouldn't do it in your own country, don't it here”
Many people forget to use their brains, or actually leave them on plane! Our role is simple, we provide you with sound advice and recommend quality legal representation if needed to help you avoid the pitfalls.
Our services to buyers include all of the following and more!
Personal Guidance and Viewings
Supplier Negotiations – if you are buying a bar or a restaurant, you will want to make sure that you get the best terms from your suppliers. Our contacts and expertise will ensure that you can buy your products at the best prices thus making certain that you run your new business as profitably as possible.
Lease Negotiations – we will negotiate favourable lease terms with the landlord of your business where the business to be purchased is in rented premises.
Conveyance Introductions – it is essential that you obtain good legal representation and from someone that speaks your language.
NIE Numbers – in Spain we each have individual financial identification numbers, much like your Social Security numbers in the UK. For foreign nationals this number is called your NIE (Numero de Identification de Extranjeros), once allocated this number is with you for life and is both your VAT registration number and personal ID number. You will need this number prior to opening your new business and an important part of our services to new buyers is to guide you through the simple process of acquiring it.
Guide to Purchasing a Leasehold Business
Firstly obtaining finance from a bank to purchase a leasehold is very difficult in Spain unless you are can to guarantee the business against a property. The agreed price you are paying for the leasehold is paid in full on signing of the purchase contracts and the lease agreement with the landlord. In normal circumstances a deposit of € 8,000 or 10% (whichever is higher) is payable. The deposit secures the business and it is non returnable. Completion of purchase can be done within 10 to 14 days.
Standard Length of Leases
The normal lease length is 5, 10, 15 or 20 years, on a rolling contract.
You have an automatic right to renewal of the lease providing you pay the rent on time and keep within the terms of the lease.
During the Lease
• Payment of the agreed rent on a monthly basis will be made.
• The business can be run in accordance with the terms of the lease (i.e. as a bar or shop).
• Refurbishment of the premises can be made to the décor etc., but any structural work permission from the landlord will be needed.
• Utility charges are the responsibility of the leaseholder
• The landlord is responsible for external repairs.
• The rent will increase only by the rate of inflation each year
• On renewal of the lease, negotiations on a new lease price and term will commence approximately 2-3 months prior
• Upon renewing the lease you do not have to pay again for the business.
Selling the Lease
Normally you can sell sell the lease within a certain time frame of commencing your new lease contract with the landlord and the landlord will have in the contract that you will pay him a percentage of the price you sell for. Permission will normally have to be granted to sell from the landlord and he has the to agree to the new prospective tenant.
Purchasing a business freehold, it is exactly the same as buying a home in the UK, it's no different, you will receive the deeds to the property. Obviously you then can lease your building, and generate an income from it.
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