Synonymous with jet-setters, high-rollers, motor racing and the yachting elite, Monaco is unparalleled as a celebration of luxury and prestige. Given the high esteem in which the principality is held by many of the highest net-worth individuals in the world, setting up a business in Monaco offers unrivalled access to a customer base with serious purchasing power. And for those catering to a global audience, the status symbol of a Monaco address has the potential to offer any brand a considerable boost.
So what other commercial advantages does Monaco have to offer? And where are the best areas to look for a Monaco business for sale, or to relocate your existing operation? Read on to find out…
Monaco is low risk, high reward
The first advantage that Monaco offers the entrepreneur is that new businesses are welcomed. The Principality has a culture of supporting fledgeling businesses and is home to some of the most efficient and advanced financial services organisations in the world. All of the essential infrastructure is in place and reliable, and businesses operate across a range of sectors broad enough to accommodate even the most specialised offerings.
Of course, the celebration of indulgence and buoyant tourist trade means that luxury offerings are particularly well suited to Monaco, but businesses of all types can find a home here. A combination of Monaco’s stability, heritage and legendary symbolic appeal creates the opportune environment for commercial enterprises to thrive. But which area of the principality would be best suited to your business?
Monte Carlo is probably Monaco’s most famous district, and home to the internationally renowned Monte Carlo Casino, which sits alongside some of the most recognisable luxury brands in the world, such as Dior, Hermes and Gucci. Real estate in Monte Carlo is to be prized, as it is also a bastion of sporting success. Every May, the Principality hosts the Formula 1 Monaco Grand Prix, which provides a further boost to the already lucrative tourist trade.
As a result, the glitz and glamour of Monte Carlo is an extremely inviting proposition for new businesses and should be front of mind for any operator looking to move their operation to Monaco.
La Condamine is one of the oldest areas of Monaco. Its key advantage from a business perspective lies in its proximity to the iconic port of Monaco, Port Hercules, which is a magnet for tourists and locals year-round. La Condamine includes some important commercial arteries, many pedestrianised, and receives a lot of footfall as it is a transport hub.
For a business that thrives on passing trade, prestige and stunning surroundings, entrepreneurs should look no further. And the great news is that in La Condamine, opportunities abound.
Discover this Monaco business for sale
Take for example these fantastic commercial premises for sale located on one of the La Condamine’s main thoroughfares, close to the train station and within walking distance of the port. The sight of a popular sports memorabilia store for many years, the leasehold is now available to purchase with a 3-, 6- or 9-year commercial lease, as well as an annual rent. The potential for this 70-metre square commercial showroom is enormous and it could be the ideal home for almost any operation with the singular exception of catering. This Monaco business for sale also comes with a 12 metre-square cellar and storage space of 27 metres-squared.