Friday, 16 June 2017 10:33

What's it Really Like living in Spain?

What's it Really Like living in Spain?

Having lived in Spain for over 13 years, I hope I can give a comprehensive answer to the question which I get asked on a daily basis.  Once you have made the move my advice is to embrace the culture as soon as possible, this will take some getting used to.  For example banks only open half from 8.00 am until 2.00 pm, the famous siesta from 1.30 pm until 4.30 pm where you will find the streets deserted, shops closed and everything at a stand still!  Don't expect shops to be open at 9.00 am  most open at 10.00 am or there about's!   If you expect the same working hours as the UK, you are in for a big shock!  Arrange for a tradesman to meet you or meet a Spaniard for business and most likely they will be late such is the laid back attitude, and as I mentioned previously this takes some getting used to if you originate from a disciplined work background!

Living in Spain offers you an incredible lifestyle, masses of culture, fiestas, diversity, and sunshine! The Spanish love their fiestas and each town prides itself in hosting these spectacular events so much so there are fiestas taking place somewhere in Spain, either at a local, regional or national level.  Once you have experienced a fiesta it will leave you waiting for the next one!

The diversity of Spain offers you fabulous coastline and beaches as you well know, however you are able to be in the mountains in a very short period of time and a few hours drive you could be skiing!

The weather is a major factor in people making the move to Spain, ask most people and they will tell you that they had enough of dull grey skies, cold wet summers and miserable winters in the UK.  Living in sunshine for the majority of the year offers so many different possibilities for a healthy outdoor lifestyle, plus the feel good factor to wake up to glorious sunshine!  One thing you can do here is plan for the weekend without the weather spoiling your plans, so get your BBQ ready!

Living in Spain

Coming to Spain opens doors to a new world of friends and acquaintances, however you have to be prepared to work at this and make the effort, join local clubs, talk to people, don't be shy!  Everybody will help you if you have a question and need some guidance if you ask and the Spanish will help and they appreciate you making an effort with the language.  The language should be learnt and even you aren't 100% fluent it goes such a long way to interacting with locals and enjoying their company, and don't be afraid to try the little Spanish you have learnt or learning, you will be rewarded for trying.

Working in Spain is hard, and anyone that tells you different is lying! There is very little work for expats and don't expect wages the same as the UK!  Before you move here be prepared to work, if you are buying a business in Spain then we can advise and help you through the whole process, but don't think for one minute having your own business will be easy.  My advice is that you have to be a certain person to be self employed, you have to a be fighter, not be beaten, and a grafter.  Simply because it will never always be plain sailing and there will be times when the chips are down and you have to fight to survive.  Anyone that's got or had their own business will know exactly what I am saying.

To summerise , Spain is a wonderful country, it's welcoming and offers fantastic opportunities and a fabulous place to live.  However, don't compare it the UK!  I hear many expats saying "well I could it in the UK"  you aren't in the UK!  Respect the laws, respect the people and work hard to build your life here and you won't go far wrong.  I for one have never looked back, I am passionate about living here and I enjoy every minute of it.

Published in Blog
Monday, 27 June 2016 12:10

Brexit

Brexit

Business Broker Spain and everyone associated with our business has worked incredibly hard over the years to become the leading business brokers in Spain, we have experienced the boom and we have seen the harsh realities of a crippling recession that gripped the whole world.

I think Business Broker Spain can speak for the majority of expat business owners here in Spain and probably in the whole of Europe of our shock at the result of the referendum on the 24th June. Things have changed and not for the better, we have seen Sterling hit a 31 year low against the Dollar and we have seen Sterling drop over 8% against the Euro.

80% of our clients purchasing businesses here in Spain are from the UK and we are bracing ourselves for what are now very uncertain times after what was our best 6 months of trading on record, confidence had returned to the market, businesses were selling at rate seen in the boom of 2005/2006.

Confidence plays a massive part in any life changing purchase and non more so than deciding to emigrate to another country and purchase a business, and we only hope this is quickly restored to levels pre-Brexit.

I for one class myself as European and my family are happy and settled in Spain with the Spanish people welcoming us into their community, it's been a positive and life changing experience and one I wouldn't change for anything. My daughter attends Spanish school, speaks three languages fluently at 10 years old, and we want her to grow up in a free Europe where cultures can mix and learn from each other and our only hope is that somehow Brexit will not deny other young people this fabulous opportunity.

Our advice for anyone contemplating the move to Spain and purchasing a business to continue with your dream, follow it and achieve it and we will help you every step of the way.  It won't be easy, we all know that but the rewards are there to be achieved, plan carefully and please do contact us for any advice.  There is life after Brexit, there has to be!

Nigel Fitzpatrick
Director
Business Broker Spain

Published in Blog
Monday, 01 June 2015 14:24

Why Use a Business Broker in Spain?

Why Use a Business Broker?

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 info@businessbrokerspain.com

Published in Blog
Wednesday, 06 May 2015 15:57

Spanish Success Story

Susie & Andrew - Maserof Kennels

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!

Susie - Maserof KennelsBusiness 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

Susie & Andrew - Maserof Kennels"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."

Published in BBS
Tuesday, 07 April 2015 16:10

Testimonials

Don't just take our word on how professional we say we are, read what our clients and associates have to say about us.

Infinity InternationalInfinity International are pleased to be associated with Business Broker Spain, and have worked closely with them for the past 7 years helping their clients exchange currency for their purchase. We have found Business Broker Spain to be professional and hard working and always with their clients interests at heart, and we have no hesitation in recommending Business Broker Spain​ for your business purchase or sale.

Monfort y BonnellBusiness Broker Spain have recommended Monfort y Bonnell to their clients to oversee the purchase of a business, NIE applications and conveyancing. I, Xavier Monfort of Monfort y Bonnell would like to assure you that Business Broker Spain are trustworthy and professional in all they undertake, nothing is too much trouble for their clients. Xavier Monfort, Lawyer. Monfort y Bonnell.

ComTel International​ComTel International​ recommend Business Broker Spain to act on your behalf, they are very well established and the market leaders in the business transfer market in Spain. We have provided Business Broker Spain with their National & International numbers and vPBX, with all their staff using mobiles for all their office communications, saving approximately 65% on call costs.

Maserof KennelsNigel 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.
Maserof Kennels

Published in BBS
Saturday, 21 March 2015 12:41

Euro Weekly Write Up


Business Owners Direct, “Businesses for Sale Direct from the Owners”

In the first of a new monthly series, Nigel Fitzpatrick, from Business Owners Direct looks at how to buy a business

Example

1. Buying a Business in Spain.

Buying a business in Spain is a daunting prospect when you are from another country. The language barriers, the process, the red tape all make it seem impossible, yet actually it’s fairly straight forward.

Buying a business in Spain is no different to buying one in the UK. There’s a simple question you should keep asking yourself here in Spain, “Would I do this in the UK?” If the answer is no then invariably it’s right. The golden rule is not to get carried away with it all and keep your head, after all you are about to go into business!

Number One rule is to always appoint a well known and recommended lawyer to act on your behalf. The lawyer will negotiate on your behalf with the Spanish business owner and landlord (if language is a problem) and help you get the best deal. You may well be purchasing an English business and because you can converse you may think you don’t need a lawyer, WRONG!

Prepare yourself for your purchase, sit down and structure your business plan. (We will cover in more detail how to compile a business plan in future issues). Research the business, do your “due diligence” and don’t rush in. Visit the business at different times of the day, sit outside and watch, do this for a week and it will give you a good understanding of the business. Don’t ignore your potential competitors, see how and what they are doing, build your knowledge and use it to your advantage when you begin your business.

How long does it take to buy a business? Purchasing a business is not a lengthy procedure, and normally it can be completed in a matter of weeks.

Associated costs – A lawyer will normally charge €80-€1500 for the conveyance work carried out. An opening licence if needed costs in the region of €600.

Next week I will look at Business Plans, every business should have one!

2. Business Plans

A business should always have a business plan; initially this will capture the strategic operational and financial aims of the business, which will be adapted to as your business grows.

Ideally the potential/business owner should write the plan, but write it in the perspective of the audience. What’s the purpose of the plan? Is it for personal use to refer to? Or is it to secure finance or investment? Or simply communicate the future plans of the company? Think about who will be reading the plan and tailor it accordingly.

Do your market research, factors such as the market size, potential growth paths. For example an internet cafe would research the local population, household internet coverage, and predictions on whether it’s likely to grow or decline.

Going into business you have to have a measure and understanding of your competitors, if your market sector is highly competitive is this price led? How will you compete effectively with the existing players?

When writing your plan, be sure all the key areas are covered, include colour charts and spreadsheets.

The numbers will be under scrutiny, all your costs should be documented in full and sales predictions should be realistic and conservative. Preparing a cash flow chart and a break even chart you will be able to establish how many sales you must achieve to cover your costs and also how finance you must raise to start your new enterprise. At the beginning there are always many start up costs, and sales can be uncertain, so make provision for a strong cash flow budget.

As I have previously mentioned a business plan is a vital tool and you should always prepare one before embarking into business, and you should always refer to it in later stages and adapt it as your business grows.

There are templates available on the internet which can help you write your plan, and also help you form you Profit & Loss, Cash-Flow and Break Even charts.

Future Issues

• Sell a Business
• Maximising Profits
• Branding & Marketing
• Operating Systems
• Forming a Company

Published in Blog
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