Hi guys. I am looking to use my savings to buy into a hostel. I was wondering if anyone has any experience in buying a hostel and employing a hostel manager to run the business? My goal is to initially do this and then look at taking over those duties down the track once I have finished my current employment contract in a few years time
I'm quite new to the game so wondering what people's experience with this is..
I have saved up a fair bit of money over 10 or so years and would love to invest that in a well located hostel in melbourne, australia
My preference is to buy an existing business and enhance instead of starting a hostel from scratch.
Would really value any insight on this.
Is it just wishful thinking to think I can buy a hostel and have a manager run it while keeping my existing full time employment for a few years?
6 years
Hello Anthony:
What you're describing would be possible with a small hostel. We've stayed at or worked with many hostels in Australia that are operated by a team of backpackers working for accomodation and led by a full-time paid manager who coordinates with the owner as necessary.
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