The hospitality sector in the Isle of Man provides an excellent mix of independent, unique businesses along with well-known franchises, which together cater to both the local population and visitors.
Hospitality businesses in the Isle of Man can take advantage of access to a strong local supply chain of high quality produce from meat, fish and vegetables, to ales, wines and spirits. An established Isle of Man provenance label and traceability assurance further assists with selling locally.
Both the Restauranteur Association and Licensed Victuallers Association work closely with Business Isle of Man as a direct conduit into government and a key decision maker and advisory body for the economic prosperity of this key sector.
Relocating or establishing your hospitality business in the Isle of Man, you can not only benefit from uniquely beautiful views and scenic spots to locate your business but an Employee Relocation Incentive for Managers, Chefs and Head Housekeepers. The Isle of Man Government also offers a generous regeneration scheme to support physical improvements to the appearance of all commercial premises directly accessible from the public highway.
The Isle of Man boasts an extremely affluent ACORN (A Classification of Residential Neighbourhoods) profile with high spending power, that compares well to similar affluent UK cities. 55% of households across the Island fall into the most affluent category- Affluent Achievers, compared to 22% across both the regional North West and UK average. In addition to Executive Wealth groups, the Island’s capital- Douglas, has a high proportion of Career Climbers and City Sophisticate’s who have above average disposable incomes, further highlighting the high spending power the residents of the Island have.
When looking for a suitable unit for your retail business, rent and rates are also both lower than UK comparable towns and larger cities, and with an excellent knowledge of the Island, local estate agents are always on hand with advice on availability and costs of commercial property.