Hey Peeps

I'm new to the forum so a big hello to everyone on here. I am moving over to the Canaries asap (end of this or early next year). I will be opening a bar/cafe with a bit of a difference to what is on offer at the moment. My only question is should it be Lanzarote or Fuerteventura? The decision is killing me. I know and love Fuerte really well but not Lanzarote. Mostly folks are telling me Lanzarote is busier but which one, in your opinion, should I choose and why? It would be interesting to hear different opinions????

Hello chrisb,

I'm not teaching you to suck eggs but I would consider spending a little more time in the planning stages. A new Business venture anywhere at the moment requires alot of thought, preparation and planning, I was seriouly looking at buying an exsisting business in Lanzarote but after extensive research I have decided to put the idea on hold for a while.
There's always business potential in an enviroment where tourist/expats alike holiday and live however I would recommend that if you Look at the bigger picture and to go to the island and assess it and obviously keep you business ideas close to your chest.

I'm making these comments based on the idea that you haven't been researching Lanzarote very much and in your message you did mention the fact, whatever you decide to do I wish you luck.

Its all about the 5 'P's: Preparation, Planning, Prevents, Piss Poor, Performance.. so they say!

[quote="deepsix"]Hello chrisb,

A new Business venture anywhere at the moment requires alot of thought, preparation and planning.

Hello deepsix. Thank you for your response. I totally agree with everything you have said and then some. I have done so much research that my nose is bleeding with all the conflicting reports The only way to truly get to know a place is, as you say, assess it. I would of course live there for a period before committing myself should I choose Lanzarote? BTW I have lived in Gran Canaria and Fuerte so not totally alien to the 'island life', it's politics and problems and no doubt Lanzarote has it's fair share of them. This posting was just to gauge a few opinions negative or positive. it's really interesting to hear them particularly as they differ from each individual. Thanks again deepsix, I hope it is not too long before you realise your business venture

Lanzarote I would say may have better options, but I have got to say there is no shortage of bar's on either island so unless you are doing something different to everyone else you are just chasing the same customers. A quality cafe would perhaps stand a better chance if you find the right location and market since the sector is not flooded with real cafes.
There certainly are markets that could be taped in Lanzarote and I guess certain parts of Fueteventura. Have you been to Lanzarote?

I wish you well with whatever you do.

cheers
Keith
Lanzarote

Thanks Keith, I appreciate your input. You are right, there are plenty of bars on the islands. Many of these are doing the same thing and therefore competition is fierce between them. i have been to Lanzarote on very short trips from Fuerte but not for any significant length of stay. Fuerte is a very quiet island and a lot more expensive setting up a business there which is why I am considering Lanzarote as an alternative. Nothing is guaranteed but I have what I consider to be some great ideas offering something different to the cafe/bar trade and I also have a good amount of experience. My gut feeling is that Lanzarote is the better option. I will, as mentioned, spend some time living and researching the island before taking the plunge. It's scary but as they say no pain no gain It is interesting hearing peoples opinions, thank you.

best regards
Chris

Chrisb, I've sent you a pm.

Hi Chris

i idmire your bravery thinking about setting up a business on either aisle, but no matter how gud your ideas are if visitor numbers are low then its going to be a struggle. Ive been to lanza quite a bit over the last 6/7 years and I love it but every time it seems quieter.If there is no footfall then no matter wot u do it will be hard. Im sure you will get lots of advice and whatever you choose to do I hope it works out well.

good luck
Craig

Thanks Craig. I know it's not going to be easy so will be doing a lot of careful planning. I am confident my idea will appeal to the locals as well as tourism but I certainly hear what you are saying. Fortune favours the brave (I hope)

Hi Chris

Stand back and take your time is what we recommend to all of our clients whether they buy through us or not. You are right that there are a lot of businesses that are repeating the same idea and so uniqueness can give you advantage in the market but you must be confident in not only what you are going to do but also there are people looking to buy your product(s).
At the heart of all good new business set ups is local knowledge and so it is important that you select an accountant/gestoria/lawyer you are happy with to help with the paperwork side, a good agent to ensure you find the right premises and ensure that you spend time looking around before you put your hand in your pocket. Businesses can't be set up online or purchased online and so although Lanzarote might be perfect for someone it might not be for someone else and this is a personal decision that really only you can make.
Please feel free to contact me via a private message or via the company we are more than happy to share our extensive experience here in Lanzarote and certainly help avoid many common pitfalls. Personally I have owned a cafe in Lanzarote that was unique at the time of opening but was very quickly "copied" and this does impact your turnover and so understanding your market is important but also having the best location!

Best of luck with whatever you do decide to do and make sure you let us all know about it!
Phil

Thanks for that Phil. I have sent you a brief pm

Love to know what is your unique selling point!!

Not wanting to sound overly cynical but what would be truely unique would be a brit going to Lanza and NOT planning to set up a bar!!!!!!!

I went over and drove coach´s for Franyasmar Bus!
Then went and worked in 3 Spanish owned and run bars..........

Ah but you worked in a bar rather than taking the risk of investing your cash!

Why don't brits just work in a bar rather than wanting to buy one?!

That way you only work the set hours, you can sleep at night not worrying about the bank foreclosing on you, lower risk etc etc and you can live off the interest of the investment that you were going to put into a bar!

Haha foodie, you may not have wanted to sound cynical but you certainly do. Perhaps it is because you are putting me in to that 'Brit going to Lanza to open bar' with no imagination doom and gloom box? As much as I love sheep I have no intention of following them!!!

i would love to share my USP with you foodie but then I would have to kill you

Look, at the end of the day I have an idea that I strongly believe could work as a business. I promise you it will not have the word 'English' or 'Irish' above the door ( no offence intended) and nor will chips be on the menu I will come to the island and take my time to do my research. if the feedback is positive and there is a gap in the market and the location is there for what i intend then I will go ahead with my plans otherwise I will walk away cash in pocket and nice memories of a long holiday in Lanza

On a last note; To help me in my venture, if anyone has anything to voice from personal experience and not just from observation, I would really appreciate your constructive thoughts be it negative or positive?

I look forward to further responses

I see what you're saying about not having "English" or "Irish" posted above the door - and personally, we would avoid any place that did so. When we travel to Lanzarote, we want to experience Lanzarote lifestyle, not English/Irish or anything resembling home. We look out the places that the locals use - if they don't speak English, all the better!! We can get by with the language somehow. What I really cannot understand is someone who travels to Lanzarote to go and eat English food - why????? It's one of life's mysteries - but then each to their own, eh?

If I was looking to set up a business, it certainly would not be another English bar or similar - there are far too many of those already!