Things You Should Know About Opening a Restaurant in Palma de Mallorca
The food industry is one of the most attractive areas of investments in Mallorca as this island is a well-known tourist destination. Spaniards and foreign tourists spend their money eating and drinking in restaurants so, opening a restaurant in Mallorca can be a very successful business. Before setting up your restaurant in Mallorca, you have to understand how the business environment works and get local advice from our accountants in Palma, certainly seems like a good idea.
Opening a restaurant is all about location, location, location. It is as crucial to its success as great food and service. It will influence many parts of your restaurant, including the menu. The city centre, beaches and the shopping malls are the most popular places in Mallorca. Make sure you select the right location for your style of restaurant. You should know that the higher the rent is, the more prominent is the location.
Be very careful, this is a very important aspect when opening a restaurant in Mallorca. You will need an activity license, music license and If you are planning to sell alcohol, you will also need a license from the local authorities (ayuntamiento). You will need a food’s handler certificate (carnet de manipulador de alimentos). It is about safety and public health issues and it is obtained from the regional government. It is also important to take into consideration that Since a restaurant is an entertainment place, you will also need a music license, especially for the live music.
The people that make up your team will have just as much to do with the success of your restaurant as your food will. Rude or forgetful waiters can ruin everything. Make sure you take expert advice from an accountant in Mallorca who has experience in dealing with labour regulations in Mallorca and can advise you about the law and how it applies to your restaurant.
Choosing the right business structure for your restaurant is critical. It can affect everything from tax obligations to legal liability. Our accountants in Palma can help you decide the most appropriate form for your business.
In Spain, you have three main options:
- Sole Trader: A sole trader is the simplest form of business structure and is relatively easy and inexpensive to set up., especially if you run your business on your own.
- Partnership: If you plan to go into business with more people, but you still want your structure to be flexible, you can run your business as a partnership.
- Limited Company: a limited company is the most complex, formal and expensive to set up and run. It also has a number of distinct advantages over the other forms, including limited liability and more favourable taxation.
Write A business plan is especially helpful to those new to the food/restaurant industry. As you research information for your restaurant business plan, you may encounter problems you hadn’t considered previously, such as licensing, health codes and tax laws.