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View Full Version : Advice needed on opening a business in Tenerife



lindabarton1
05-05-2013, 10:35
Hi there, I have a friend that is looking to retire to the Island, having spent many holidays there. He doesn't have internet access just now, but there is also the possibility that I might eventually join in, the thing is, he is thinking of getting something like a banana boat (and speed boat) and pulling it around the beaches but we wondered what people thought. Does anyone think there would be much call for this kind of thing? Thanks in advance.:spin:

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please forgive my ignorance, I have never joined a forum before and as you can see, am not sure how it works

9PLUS
05-05-2013, 10:41
I get you i think, he wants to run a watersports business yeah?

Ecky Thump
05-05-2013, 10:51
I get you i think, he wants to run a watersports business yeah?

Come on Mark, give the man some business tips (positive or negative, as you are a electrician), we have heard on the forum of some of the pitfalls and as you are self employed you maybe able to give good advice.:)

9PLUS
05-05-2013, 11:02
This type of thing costs hundreds of thousands of euros in the areas that money can be made.



Yet again go to ask in your local townhall where they would want to do this activity.

lindabarton1
05-05-2013, 11:12
I get you i think, he wants to run a watersports business yeah?

Yes, sorry, not sure if I am replying in the correct way, but it would seem he needs to contact the town hall to make enquiries, thanks for this guys :)

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thank you so much

Goldenmaniac
05-05-2013, 11:21
Linda this kind of activity is regulated by the department of Fomento (merchant marine (http://www.fomento.gob.es/MFOM/LANG_CASTELLANO/DIRECCIONES_GENERALES/MARINA_MERCANTE/)) and the department of Tourism office as well as the local authority - it IS NOT EASY because you are taking fare-paying passengers on Marine trips with all the licences and permits that that involves - there are specialist consultants/ lawyers/ gofers that deal just with maritime issues - for good reason it's a very thorny subject - ask any dive centre or pleasure boat or jet-ski company and they'll tell you!

lindabarton1
05-05-2013, 11:32
Linda this kind of activity is regulated by the department of Fomento (merchant marine (http://www.fomento.gob.es/MFOM/LANG_CASTELLANO/DIRECCIONES_GENERALES/MARINA_MERCANTE/)) and the department of Tourism office as well as the local authority - it IS NOT EASY because you are taking fare-paying passengers on Marine trips with all the licences and permits that that involves - there are specialist consultants/ lawyers/ gofers that deal just with maritime issues - for good reason it's a very thorny subject - ask any dive centre or pleasure boat or jet-ski company and they'll tell you!

I understand, thank you, that's very helpful :)

Balcony
05-05-2013, 17:05
Linda. Also don't forget the legal side and financials - lawyer and accountant for advice. Health and safety are getting into full swing also in Tenerife, you have to carry sufficient insurances and be aware of responsibilities.

Your friend, obviously, needs finances to purchase a boat, to maintain it and also to buy, at least, a couple of 'bananas', plus safety equipment. Then there are licenses to obtain and location from which to work. Boats are not cheap. Also he may have to employ people to do the physical work - it's not just driving a boat....what happens if the banana tips riders into the water and someone gets into trouble?

He should draw up a business plan and do his homework (detailing realistically expenses and income) to see if his project would work financially i.e. he can make enough profit to pay his taxes and live on.....and save for retirement!

I think there is already a banana boat ride in Los Cristianos/PDLA (?) and a start would be to find out what is being charged and, maybe, a couple of hours observation to estimate the no. of customers. It might even be worth talking to the owners...they might want to sell, or may give some advice. Your friend should also be wary of jealousy, so pick his own spot carefully.

lindabarton1
05-05-2013, 18:14
Linda. Also don't forget the legal side and financials - lawyer and accountant for advice. Health and safety are getting into full swing also in Tenerife, you have to carry sufficient insurances and be aware of responsibilities.

Your friend, obviously, needs finances to purchase a boat, to maintain it and also to buy, at least, a couple of 'bananas', plus safety equipment. Then there are licenses to obtain and location from which to work. Boats are not cheap. Also he may have to employ people to do the physical work - it's not just driving a boat....what happens if the banana tips riders into the water and someone gets into trouble?

He should draw up a business plan and do his homework (detailing realistically expenses and income) to see if his project would work financially i.e. he can make enough profit to pay his taxes and live on.....and save for retirement!

I think there is already a banana boat ride in Los Cristianos/PDLA (?) and a start would be to find out what is being charged and, maybe, a couple of hours observation to estimate the no. of customers. It might even be worth talking to the owners...they might want to sell, or may give some advice. Your friend should also be wary of jealousy, so pick his own spot carefully.

My thanks, all of your help and advice is invaluable