John worked for fifteen years in the post office. Now he runs his own bar in Tenerife.
Teresa runs her own gift shop in Tenerife. She worked for Tesco when she was in the UK.
Kevin and Mary both worked in the Civil Service, but now they are proud restaurant owners in Tenerife.
What is it about Tenerife that makes so many expats turn into entrepreneurs, even though they may have spent their careers far removed from the cut and thrust of running their own business?
“For me it was the lack of any alternative,” says John, a former postman. “I don’t speak Spanish, and most jobs need you to speak the language,” he adds.
Language is certainly a major barrier for expats hoping to find a job on the island. Naturally most positions require Spanish, unless they are in the front line of the tourism industry.
Kevin, who worked for the National Health Service in the UK goes further, saying “The jobs that are advertised tend to be fairly low level. Normally you are faced with a choice between commission only sales jobs, mainly in the timeshare industry, or jobs hustling tourists into bars. For us, running our own business was the only real option.”
“Yes,” agrees Kevin’s partner, Mary. “But we were also quite spoiled for choice when we bought our restaurant. With the recession and everything, there are some really good businesses for sale in Tenerife at the moment. Our restaurant was quite dated but you could see that with just a bit of modernisation and a menu that didn’t sell chips with everything, the business could be doing so much better.”
“You just have to be adaptable,” says Teresa who was a regular visitor to the island from Manchester, before she decided to follow her dream and buy a gift shop in Tenerife. “If you move abroad, it’s a life changing experience and you are out of your comfort zone. Running your own business is only a small step further.”
Frederick Saltmarsh, one of the Directors of FRINA Tenerife a prominent business sales agent on the island, advises aspiring business owners every day. “Establishing an income that will support your new life in Tenerife is probably the most important challenge you will face. Employment prospects are very limited, but that is more than compensated by the number and quality of business opportunities.”
And Frederick certainly has a point. There is a wealth of businesses for sale advertised on the FRINA Tenerife website, and prices seem remarkably low even to a casual observer.
“The local economy is rapidly picking up after a grim recession and the future of business in Tenerife is looking very bright,” observes Frederick, “but businesses for sale in Tenerife are still at rock bottom prices… at least for the moment. Right now, we are witnessing an extraordinary time in the market for bargain hunters but as businesses start to prosper once again, prices are sure to rise.”
Article kindly contributed by FRINA Tenerife. If you are interested in a Tenerife Business for sale, you can contact FRINA Tenerife by calling +34 922 085 191 or by visiting their website http://www.tenerife-business.com/
Photo credit: luisrock62 from morguefile.com
Related posts:
