hey guys im looking at opening a hostel australia just wondering what city needed or where you think a good place to open one is ?
11 years
I´d be careful concerning the high AUS $ and declining visior figures.
if I remember correctly I have read some negative stuff on the internet.
Go google for industry numbers/reports to get a rough idea.
Also, are you familiar with OZ? I mean do you have a rough idea what geographical area
would be of interest for you?
Hope this helps as a start
11 years
yeah i live in melbounre and i was thinking maybe up around the high coutry
im currely living in vietnam and i meet a lot of pepole and they said they are gouing to aust to work then travel but i guess if they didnt work in aust they counldt afford to travel around so yeah i can see what your saying about the high aus dollar what negtive stuff did you read?
thanks for your feed back
11 years
Hey, glad to have seen your post...
I was about to buy hostel in Sydney about 2 years ago. The deal seemed really good, the owner was very happy to sell it as soon as possible. A little research about him turned out that he was a very successful hostel operator in the past, which worried me a bit (I started to wonder if he, with his background and experience can't make it work, then what about me... But then again you never now about the true motivation behind somebody selling).
In the end he considered selling it to me for a quarter of the original asking price, but something else came up and I ventured into another, related business area.
Interestingly, one of the staff members I hired about six months later in my new business was a Backpacker. When I took her address down it turned out that she was now staying at that exact same hostel I almost ended up buying. And she was able to tell me a few stories about the place... in the mean time a fire had broken out, the plumbing kept failing, etc etc. And when she was about to move out a little later the new owner begged her to stay and lowered the weekly rent extremely. Low season was approaching and he confided in her that he doesn't know how to pay his current bills.
I feel bad for him but am of course I didn't go ahead with that venture. And mind, the rent for the whole building was actually considered cheapish for that area.
I must admit, however, that I never stopped thinking about the place and am still wondering what one could do, to bring it up again. I do have a few ideas how to turn it around and also enough capital to renovate and modernize it.
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