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I know someone who is running an estate agency in Spain……I’ll be deliberately vague about the details.
They say the business is “ticking over”…..this means that revenue covers costs (rent, bills etc)….but they essentially draw no income from this business. This is not a start-up and is reasonably established. However this is not such a problem to them as they are in the Autumn years hence have other income and little personal outgoings. It gives them “something to do” and keeps them from going rusty.
But if there are agencies such as this (and i’m sure they are not the only ones) how can competing “normal” businesses operate? By “normal” I mean businesses that need to draw a margin with employees who require income* to put food on the table and pay the rent/mortgage? If I was running a business I guess I’d be pretty hacked off if my competitors where willing to run on a zero margin basis.
*changed from “wages” because as Katy pointed out many work on commission only basis.