The businesses association publicised its findings after interviews with around 50 of its members. It pointed out that another factor responsible for the downturn in these figures is that the all-inclusive hotel requires the clients to pay for lodging, food and drink in advance. This leaves them with little money to spend at the other restaurants of the island. It is reported that Soller is one of the worst affected regions this season.

PIMEM, the business association of Majorca said that spending lever of the customers is considerably low. Cafés, Bars and restaurants at S’Arenal, Can Pastilla and Cala Ratjada reported serious decline in the business. At Porto Cristo in Manacor district, the association has blamed the “advance” payment of the all-inclusive hotel offer for low trade conditions.

In the capital Palma, the situation is different. People come here to sight-see in spite of bad weather and hence, the tables are filled but the spokespersons of the restaurant industry say that the levels at which the customers are ready to spend have fallen by about twenty percent.

www.youtube.com/watch?v=CFGwY6PbbcI

On World Day for Homeless Animals, yesterday, the secretary of Baldea (Balearic Animal Defence League), Elsa de Opazo, spoke to the media. She said that this year had been catastrophic and also that they have been receiving reports indicating that the figures would double this year. She also said that every day, litters of pups and kittens and other pets are left at such centres. She also expressed concern that many people abandon their pets since they have grown old and are now expensive to feed or because that particular breed is now out of fashion.

Conversely, she also claimed that the society is showing more concern for animal welfare because the reports show a higher numbers of citizens condemning incidences of cruelty towards animals. She said that almost every day they anonymous calls informing them about incidents of cruelty towards pets and livestock.

Anyone looking for a business for sale in Majorca, or anyone looking to live here. Please please think twice about buying a dog or cat. If you really want to then consider one from the registered homes for adoption.

www.youtube.com/watch?v=gcHET8bZjPM

We have an entrepreneur currently based in Russia, who wishes to run a Mallorca based information website.

His instructions are short and sweet. Get me a website about Mallorca where I can offer travellers from Russia information about the island.

He has no plans to live in Mallorca permanently but is also looking at a holiday home here.

They have been on holiday several times to Santa Ponsa and have decided that this is where they wish to start their new life.

We are currently in talks with two business agencies and one owner directly who does not wish to sell through an agency.

We anticipate a very quick sale on this one.

The first thing to remember is that we work on your behalf searching for suitable businesses for you here in Mallorca and there is absolutely NO COST to you.

All you need to do is discuss your requirements, budget, time-scale and specific needs and we do all the searching, fact finding and arranging. We then report back to you with targeted results, advice and recommendations.

It really is that simple, however if you don’t want to use our services then the choice is entirely yours, but below will be the normal route you and most people will probably follow:

• You will spend days googling for “Business for sale in Mallorca” “Bars to rent in Majorca” and all the other search options you can think of.
• You will find many agencies offering a myriad of business for sale, all telling you how great they are.
• You will notice that many of the businesses are for sale on several different agency sites, quite often at different prices, with different rents and conflicting descriptions. Confusing?
• You will now have to decide which businesses you feel are right. This may be a pointless exercise as many of the sites don’t update their listings that often so you may find that the bar you set your heart on actually sold last year!
• You have now spent ages filling in request forms, making long distant calls to Mallorca, ascertaining which businesses are actually still available and planning your trip.
• You book your flight, sort out your accommodation, arrange inspections and over you come, full of hope and expectation.
• You now have to juggle between all the agencies you have contacted as to which businesses to see, when and where.
• Make no mistake. Agencies here are sales people. You will get the sales pitch!
• You only ever view businesses that business agencies have for sale. Many business owners choose to sell their businesses privately without agencies or internet advertising. It’s even the case that some of them advertise their business through local property estate agencies and you will seldom find these appearing in google or yahoo searches.

Let’s say you decide to save time, energy, probably money and ensure you find the right business and the best opportunity for you, in the quickest time possible?

Take a look at the way we at Target Mallorca work with you and on your behalf:

• Complete one form on our website or make one call to a lo-call rate number. You can be as detailed or as open as your requirements. You may know, for example that you want to buy a bar in a certain town or you may just know you want to buy a business between certain price points. It matters not as we can target our search to fit any of your requirements.
• It may even be that you have seen what you think is the ideal place on an agencies website. It makes no difference we can still work on your behalf on that business and also suggest similar from other sources. No agency will do that for you.
• We search all the business agencies, local estate agents, local papers and private listings. To ensure that we match your requirements as closely as possible.
• We check that the businesses are actually available and what, if any, is the interest in them.
• We produce a list of suitable businesses for you and make recommendations on local knowledge, business trends and success rates of similar businesses in similar loactions. So that you are armed with the right information from the outset.
• We can ask any questions on your behalf of the business agency or owner, so that you have the right answers before you plan your trip.
• When you decide to visit Mallorca, we will arrange business inspections so that they fit in with your itinerary and you make the best use of your time over here.
• We will accompany you throughout the appointments, to assist you in asking any questions you may have, in Spanish if need be and to point you in the right direction about the local area and the opportunity.
• We will be on hand to answer any questions about any business issue or to offer advice.
• If you wish, we will negotiate prices on your behalf with the agency or the owner. We can do this whether you are here in Mallorca or back home.
• There may be alternative ways to purchase the business, such as rent, traspaso etc. We will find out for you.
• We can recommend a Gestoria (Accountant) and Abogado (Lawyer) to check the legality of the business and to assist you in completing the purchase.
• We can also assist in finding a removal company and accommodation for you either to rent or to purchase when you decide to make the move to Mallorca.
• Remember you pay nothing to us for the services above.
• We don’t replace any business agents. We work with you to ensure you get the best possible advice from whichever source is available.

Now you see you have a choice – Are you going to make the right one?

Please complete our Registration Form to start the process.

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If you would like to use our services or require further information then please complete the form below.

We do ask is that you provide correct and accurate information so that we can start to assist you.

The information you provide is secure and not given to anyone outside of our business.

When we contact you we will discuss your requirements in more detail so that we can search for businesses for sale, accurately and with the best resources possible to help find exactly what you need.

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Although on a freehold property, the banks in Spain may lend up to 60% of the amount, they will probably not be interested in financing the leasehold or rental business.

It may be possible to try to negotiate the terms directly with the business seller for the business, however; you have to understand that the seller would deal cautiously at this point of time as he hardly has anything in terms of security once he signs it over and there will probably be someone else interested in the business who has the money already available.

We can make introductions to banks that have their documentation in English and where with some additional security you may be able to obtain a “Credit Policy” which is similar to a UK overdraft. This may be available to help with refurbishment, but do not rely on getting this as part of your financial plan when buying a business.

If you have UK property then you may be able to secure a loan using that as security to buy a Traspaso based business.

Banking

We believe that the banking service in Mallorca is very simple and easy to understand. However it is different from the UK and you need to be aware of those differences.
There is no cheque clearing system here. If you write a cheque then it will appear in the recipients account as soon as he presents it, likewise it will be gone from your account at the same time.
To be honest cheques are not that common over here, most people still preferring and trusting the cash!
Credit cards, until very recently, were hardly ever seen over here, but they are now becoming more common.
Debit cards are usually provided by the bank when you open a current account but be warned. They normally have a daily spending limit on them This will catch you out and could be embarrassing. Even though you have the money in your account it will still stop you getting it via debit card if you go over your daily limit.
When using a debit card at a supermarket you will probably be asked for your passport as identification so carry it with you.

We would assist in opening a suitable bank account for you. All that is needed is your NIE number and Passport.

It will take 2 – 3 days to get the Sterling transferred from your UK account to your Mallorca account and the same will be converted into Euros at the exchange rate on that particular day.

Many banks here have agreements with UK banks to give preferential UK to Mallorca transfers.

Taxation

You will be pleased to know that the taxes in Mallorca are normally lower than in UK.
There are also two different methods of business Taxation to consider.  A standard system where you pay taxation on your profit and a modular system where various aspects of your business are assessed and then you pay a fixed amount per quarter regardless of your turnover and profit. It is important you choose the best method for your particular business.

There are varying rates of IVA (VAT) here in Mallorca, from 16% which is the standard rate for the usual things you would sell in your bar such as beer and spirits. There are other rates of IVA but your Gestoria will make sure you are charging and book keeping at the correct rates.

It is usual here and more or less expected, that you do not declare all your takings from your business, this is known as black money and the part you do declare is white money. This is why when you ask to view someones books over here you may not get the full picture of the true takings. Best if we don’t go into too much detail, suffice to say we can discuss this with you for any business that you decide to view!

Once again your Gestoria will advise on all the above.