I have been seriously considering opening a hostel for the past year or so and I have spent lots of time researching the pros and cons of both starting it here in England, or buying an established business abroad.
After much deliberation, I think that buying a reasonably priced business in Central or South America is the best option for my own personal reasons (i.e. Not much investment capital to throw around, sick of the constant deluge of rainwater in England, desire for a more laid back way of life).
Are there any forum members who have done this and found that they are happy in their decision, with perhaps the added bonus of a small profit each year?
I suppose I want to hear a few success stories before I commit to such a life-altering venture.
Thanks folks.
6 years
Hello,
I'm pretty far along with a peice of land in the North of Colombia, should all be tied up within the next few weeks. I want to open a hostel or some cabins but am looking for a partner.
@Maria and Dejana if you guys want to chat, drop me a pm or mail at marknicholls999 @ gmai.com
Speak soon~!
6 years
I'm very interested in partnering up with the right individual to opening a hostel in central or south America. Unfortunately I know realistically at my current savings rate it'll be another 3 years before I can afford to do it (I want working capital to ensure it's a success).
I have years of experience in customer service as well as hospitality industry (currently work as a bartender). I have worked in construction and done books for a few companies as well. If anyone has any pointers as to directions into looking towards I'd greatly appreciate it.
My vision with a partner is where we have similar goals and give each other time off to pursue our other passions as well. Ideally we would buy into an existing hostel with the ability of expanding into having a restaurant and possibly a bar st night. This would increase our revenue by having 3 sources of income.
Thoughts
Regards,
Doug
6 years
I'm very interested in partnering up with the right individual to opening a hostel in central or south America. Unfortunately I know realistically at my current savings rate it'll be another 3 years before I can afford to do it (I want working capital to ensure it's a success).
I have years of experience in customer service as well as hospitality industry (currently work as a bartender). I have worked in construction and done books for a few companies as well. If anyone has any pointers as to directions into looking towards I'd greatly appreciate it.
My vision with a partner is where we have similar goals and give each other time off to pursue our other passions as well. Ideally we would buy into an existing hostel with the ability of expanding into having a restaurant and possibly a bar st night. This would increase our revenue by having 3 sources of income.
Thoughts
Regards,
Doug
6 years
I'm very interested in partnering up with the right individual to opening a hostel in central or south America. Unfortunately I know realistically at my current savings rate it'll be another 3 years before I can afford to do it (I want working capital to ensure it's a success).
I have years of experience in customer service as well as hospitality industry (currently work as a bartender). I have worked in construction and done books for a few companies as well. If anyone has any pointers as to directions into looking towards I'd greatly appreciate it.
My vision with a partner is where we have similar goals and give each other time off to pursue our other passions as well. Ideally we would buy into an existing hostel with the ability of expanding into having a restaurant and possibly a bar st night. This would increase our revenue by having 3 sources of income.
Thoughts
Regards,
Doug
6 years
I'm very interested in partnering up with the right individual to opening a hostel in central or south America. Unfortunately I know realistically at my current savings rate it'll be another 3 years before I can afford to do it (I want working capital to ensure it's a success).
I have years of experience in customer service as well as hospitality industry (currently work as a bartender). I have worked in construction and done books for a few companies as well. If anyone has any pointers as to directions into looking towards I'd greatly appreciate it.
My vision with a partner is where we have similar goals and give each other time off to pursue our other passions as well. Ideally we would buy into an existing hostel with the ability of expanding into having a restaurant and possibly a bar st night. This would increase our revenue by having 3 sources of income.
Thoughts
Regards,
Doug
6 years
I'm very interested in partnering up with the right individual to opening a hostel in central or south America. Unfortunately I know realistically at my current savings rate it'll be another 3 years before I can afford to do it (I want working capital to ensure it's a success).
I have years of experience in customer service as well as hospitality industry (currently work as a bartender). I have worked in construction and done books for a few companies as well. If anyone has any pointers as to directions into looking towards I'd greatly appreciate it.
My vision with a partner is where we have similar goals and give each other time off to pursue our other passions as well. Ideally we would buy into an existing hostel with the ability of expanding into having a restaurant and possibly a bar st night. This would increase our revenue by having 3 sources of income.
Thoughts
Regards,
Doug
5 years
There is not a Yes or No answer for this question. It's all up to you. Are you willing to relocate? Are you willing to sacrifice? If you are confident just go for it! It's most definitely a great experience.
https://tranio.com/articles/buying-a-small-hotel-abroad/
Check this article from Traino. It's a very useful writing about buying a small hotel in other countries. Hope it will help.
5 years
There is not a Yes or No answer for this question. It's all up to you. Are you willing to relocate? Are you willing to sacrifice? If you are confident just go for it! It's most definitely a great experience.
https://tranio.com/articles/buying-a-small-hotel-abroad/
Check this article from Traino. It's a very useful writing about buying a small hotel in other countries. Hope it will help.
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