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Guide summary
- When taking over a restaurant, you don't have to start from scratch. The business is already running, the customer base exists and revenue is immediate.
- Before signing, thoroughly analyse the location, equipment, licences, staff, price and financial health of the business.
- The transfer agreement must precisely detail everything included in the deal. Always work with a lawyer and an accountant specialised in hospitality.
Table of contents
Do you want to enter the hospitality sector without starting from scratch? A business transfer makes it possible. Instead of building a business from nothing, you take over an activity already up and running, with customers, equipment and licences included. But beware. Taking over a restaurant is not as simple as signing a document and pocketing the key. You need to analyse the business in depth, understand the contract and follow a series of administrative steps.
| Key figures: 266,837 active food service establishments in Spain in 2024 (1) 116,193 million euros in annual turnover — 4.7% of GDP (1) Only 38.5% of businesses survive five years after their creation, making the transfer of an established business a much safer bet (2) |
Why take over a restaurant?
The hospitality industry is a dynamic, competitive… and demanding sector. So much so that more than half of businesses do not survive the first 5 years.
This is where taking over a restaurant makes a difference. It is a much more solid alternative than opening from scratch, and more and more entrepreneurs are choosing it as their entry point into the sector. Why?
- A business that already works: when you take over a restaurant, the premises already exist, the kitchen is equipped, suppliers are in place and, in many cases, there is a regular customer base that keeps coming.
- Easier access to financing: for banks, financing a business transfer is less risky than financing an opening from scratch. A restaurant with a billing history, demonstrable accounts and an already established operation generates far more confidence than a project on paper.
- Revenue from day one: there are no months of building work, of processing licences from scratch or waiting for the premises to become known. In many cases, you can continue operating normally from day 1.
What should I analyse before taking over a restaurant?
Before signing anything, it is time to do your homework. A business transfer can be a great opportunity… or an expensive trap if not properly analysed.
The location of the premises
Location determines everything. A good premises must be in an area with foot traffic, well connected and in an environment with commercial activity.
Also analyse the nearby competition. Its presence is a good sign; its total absence is not always.
And check that there are no external factors that could affect the business in the short term: roadworks, closures of key neighbouring businesses or planned urban changes.
The premises and equipment
Review the condition of the premises from top to bottom: layout, square metres, seating capacity, smoke extraction, accessibility. Check that it complies with current regulations (food safety, accessibility, …) and draw up a realistic list of works or improvements needed before opening.
Equipment also matters: cold rooms, ovens, griddles, certified extractor hood, dining room furniture, mandatory signage, … Everything included in the transfer must be detailed in the contract.
The customer base
Who comes to this restaurant and why? Analyse the profile of current customers, their average spend and consumption habits. A restaurant that lives off seasonal tourism has a very different logic to one with a loyal neighbourhood customer base.
Ask the owner for access to reservation data or any information that lets you validate the actual volume of activity for your market study.
Licences and the transfer agreement
Before taking over a bar or restaurant, verify that all licences are in force. Request a legal status report on the premises to check that there are no open proceedings or pending irregularities.
The transfer agreement must precisely state what is included in the deal: goodwill, equipment, stock, licences and the terms of the lease.
Also review the current rental agreement: remaining duration, price, revision clauses and whether the landlord must give consent to the transfer.
Staff and employment transfer
When taking over a restaurant, the employment contracts of active staff transfer automatically to the new owner. This is known as employment subrogation and is mandatory. Before closing the deal, find out about staff profiles, seniority, salaries, their training and the applicable collective agreement. In hospitality, this varies by region and province.
It is also common for some team members to decide to leave when ownership changes. Factor that scenario into your planning.
The price and reason for the transfer
Why is the owner selling? The answer matters. Retirement or a lifestyle change is a reassuring sign. Serious financial problems or conflicts with the landlord are warning signs that must be thoroughly investigated.
Also analyse the online reputation of the business: Google, TripAdvisor, TheFork. What customers say online is a reliable indicator of the restaurant's true condition.
The financial health of the business
There is no room for intuition here: you need numbers. Request financial statements for the last three financial years and analyse them with a tax adviser or accountant specialised in hospitality.
The key indicators to review for your business plan :
- Annual turnover and its trend
- Margins per dish and average spend
- Cost structure: staff, rent, raw materials
- Cash flow and working capital requirements
A business with stable or growing turnover, controlled costs and no hidden debts is a solid foundation. If the numbers do not add up or the seller refuses to share them, that is a warning sign you should not ignore.
How to take over a bar or restaurant?
1. Define your project
Before you start looking, be clear about what type of restaurant you want, in which area, with what budget and what experience you bring. These answers will significantly narrow your search and save you time and pointless visits.
Also think about the format: tapas bar, set-menu restaurant, themed cuisine, neighbourhood spot or tourist area? In Spain, the concept and location are closely linked, and not every type of business works equally well in every context.
2. Find your restaurant for transfer
Once you are clear about your project, start the search. These are the main channels for finding bars and restaurants for transfer:
- Traspaso Restaurante: leading platform in Spain with audited and verified businesses
- Negociosenventa.es: wide catalogue of transfers across Spain
- Milanuncios: large volume of listings, requires more filtering
Not everything is found online. Quite the opposite. You can also find your restaurant for transfer through hospitality associations in your region, the local Chamber of Commerce or through word of mouth and the sector's professional networks.
3. Negotiate the price and sign the transfer agreement
Once you have identified the premises, it is time to negotiate. The price of a bar or restaurant transfer in Spain can range from tens of thousands to hundreds of thousands of euros depending on location, size, equipment and the business's turnover.
Whatever the price, the negotiation must be based on data, not impressions. Use the financial analysis of the business to justify your offer.
Once the price is agreed, the transfer agreement must be formalised in writing. It must precisely cover everything included in the deal: goodwill, equipment, licences, stock and lease conditions.
Having a lawyer specialised in hospitality at this stage is not a luxury — it is a safeguard.
4. Secure financing
With the agreement on the table, it is time to secure financing. The most common options in Spain:
- Bank loan,
- ICO credit lines,
- Regional grants,
- Crowdfunding or private investors.
5. Complete the administrative procedures for the restaurant transfer
With financing sorted and the contract signed, the administrative part remains. The mandatory steps to formalise a restaurant transfer in Spain:
- Transfer of licences: opening licence, activity licence and, if applicable, terrace licence. The procedure varies by municipality.
- Registration with the Tax Agency: filing of Form 036 or 037 and registration for Business Activities Tax (IAE).
- Registration with Social Security: as a self-employed person or as an employer, depending on the chosen legal form.
- Notification to the local council: in many municipalities it is mandatory to notify the change of business ownership.
- Payment of Transfer Tax (ITP): applicable to business transfers, with a variable rate depending on the region.
An accountant or tax adviser specialised in hospitality can guide you through this entire process and make sure you don't miss any step (they are not just there for the VAT return).
Are you about to take over a restaurant? Covermanager helps you manage reservations, payments and customers from day one. Start on the right foot.
FAQ
Can you take over a restaurant without experience?
Yes, but with caveats. In Spain there is no legal requirement to have prior hospitality experience to take over a restaurant. However, lack of experience increases the risk, especially in the first few months. If this is your case, surround yourself with professionals from the start: an accountant specialised in hospitality, an experienced chef or front-of-house manager, and a legal adviser for the transfer agreement.
What happens with the restaurant's debts in a transfer?
In a business transfer, the buyer does not automatically take on the seller's debts. But there are exceptions worth knowing. Debts with Social Security and the Tax Agency can transfer to the new owner if not verified before signing. It is therefore essential to request up-to-date payment certificates from both the Tax Agency and Social Security before closing any deal.
You must also check that there are no charges over the equipment included in the transfer or outstanding debts with suppliers that could be claimed from you as the new business owner.
How much does it cost to take over a bar or restaurant in Spain?
The price varies greatly depending on location, size, equipment and the business's turnover. As a rough guide:
- Bar or café in a residential area: between €20,000 and €60,000
- Restaurant in a medium-sized city: between €50,000 and €150,000
- Premises in a tourist area or city centre: from €100,000 up to €500,000 or more
To this must be added the costs associated with the transfer: accountant and legal fees, Transfer Tax (ITP), possible renovation works and the working capital needed for the first months of operation.
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