Can you still run a successful bar in Tenerife?

Buying a bar or business that is for sale in Tenerife will make you a millionaire overnight!

Maybe that is an exaggeration, but you do hear many stories of how if you buy a bar or business that’s for sale in Tenerife “anyone can be successful and become rich”.  This may have been true several years ago but in today’s economic climate; it not only takes someone with good business acumen to succeed but luck also plays a major role.  Unfortunately, there is a constant stream of wannabe bar owners lured by images on the internet of bars for sale in Tenerife, by the dream of easy money and by a fantastic new lifestyle in the sun.  They rush headlong into a career change of which they have no prior knowledge other than standing on the ‘wrong side’ of the bar and quickly their dreams along with their savings melt away.  We are told by the doom and gloom merchants that this scenario is unlikely to change in the foreseeable future, but is this right, in many cases, Yes.

I believe however, that with the right attitude it is possible to succeed where others are failing. You can still live your dream, of owning that bar or business you saw for sale in Tenerife providing the dream is realistic.  If you are ultra switched on, ultra careful and ultra smart.

Having your own business is not and never has been an easy option.  You have to be totally committed, never lose sight of your goal and in the beginning, at least, work until you are ready to drop.  This may not guarantee success, but it will certainly steer you in the right direction.   There are success stories around and the successful ones are more than happy to tell their story of when they came to Tenerife, saw a bar for sale and how they made it work for them.

I personally, know a young man, here in Tenerife who took over a failing bar that he saw for sale.  He is fortunate that he was not reliant on making a quick profit as he has several businesses both here and in the UK, but owning a bar was something he had dreamt of and he could afford to indulge that dream.

Even with his business experience, he quickly realised that if you are to make a success in this ever-popular venture you have to keep ahead of the competition.  While tourists always enjoy the music scene and quiz nights, when they are thin on the ground or staying in their All Inclusive hotels, you need something that keep the locals returning night after night.  He thought long and hard and was able to put forward alternative activities to other bars in the area and the promise of something a little different is always attractive be it comedy nights or bingo.

Everyone likes something for nothing whether it is free nibbles or half price drinks after 11.30pm, and the free squash for children with every beer or alcoholic drink bought by the parents keeps families coming back for more.  None of the ideas would break the bank but they were all guaranteed to keep the customers happy.

Being ahead of the rest is not easy, but having a creative mind can make you stand out from the crowd.  If you need to make a profit quickly, you should carefully think about what you are doing. If however you are looking to the future, have seen your dream bar or business for sale in Tenerife, you could follow this young man’s example.  He is now selling on the lease of the bar, as he has other new ventures on the horizon.  His hard work has paid off, people know it is a going concern and he has not only one but two people wanting the trepaso.

If it can happen to others, it can happen for you.  You can buy that bar or business that you see for sale in Tenerife, with the right advice , a lot of commitment and a little luck you can secure your dream of a better life being your own boss.

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One Response to Can you still run a successful bar in Tenerife?

  1. Alan says:

    Much the same story here in Lanzarote…

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