7 years
Hi Dejana
Im open to discussion lol
Im looking at Costa Rica area atm (albeit from afar) and am learning Spanish.
Hello my name is Dejana.
I live in Germany and work for a health insurance. Since I have broken my wrist 2 month ago I cant stop think of quiting my job and leave germany.
From 2012 - 2014 I have traveled around the world. I was many times in hostels and I am dreaming since years to run my own. But how and how to start?
Thats why I try it here. I want to find a partner who wants to invest with me and share ideas.I have some money. But it is not enough.
I can speak german, english, some spanish and croatian. So lets figure it out and start this!
Dejana
7 years
Hi Dejana
Im open to discussion lol
Im looking at Costa Rica area atm (albeit from afar) and am learning Spanish.
7 years
Hi Dejana and IrishMaria
I too have been looking to start a hostel, and have been looking into Latin America. I have a few ideas and have done some research and traveling. I am interested in adventure tourism as well. If either of you wish to discuss some ideas, feel free to send me a message as I am open for discussion.
Trevor
7 years
Hello,
so what is your plan Trevor? I am more into Columbia or Peru. I liked Costa Rica. But it´s not where I want to live. So has someone an idea how to start? Of course find a house, check the financials.
What do you think?
Dejana
7 years
Hi Trevor / Dejana,
Keen to chat. Im specifically looking at places I can own land and generate a number of income streams over time - a hostel being one aspect of it. Happy to chat and see if we are all compatible to join forces.
Id be keen to hear your thoughts re Costa Rica Dejana as to why you think its not suitable. Likewise your thoughts re Colombia (am interested there too).
I currently work in QA/WHS/Risk Management but Ive also a background in hospitality in restaurants, bars, bistros and hotels in Ireland and Australia (where Im currently based)
My email is [email protected]
Maria
7 years
Dejana
Other points for consideration as I see it before anything else:
Research - whats currently in the area, their occupancy rates and pricepoints
Can you offer similar but better or something missing in the market?
Is there room to add additional income streams in time eg it have a bar/restaurant/exlcusive day trips and adventures through there?
The cost of leasing v buying
The local laws re work permits and visas
The local building code and whats allowable and not
How difficult is the planning approval process? How long will it take and how much will it cost?
How much money have you set aside for living expenses while this stage goes through? (also plan for contingency)
Have you written up a business plan to scope out how you want to set it up and run it and when you hope to break even?
Whats your target demographic?
Have a marketing / social media budget defined
These are just some questions off the top of my head
Maria
7 years
Hi Dejana,
It's not about the small money you have but having the will to start and think of making it big. I started my own with Small capital but I can say it's growing big now though it has not reached how I want it.
Think of acquiring a land to start building a house or you can go for mortgage to start with this hostel business.
I am always ready to share ideas with you.
7 years
I’m happy to see so much interest in this subject, we should all at the very least be able to learn something from our combined experiences.
Myself I have many years experience in the hospitality industry and currently work in F&B management for a large hotel chain. But I don’t relate to so-called luxury travel and prefer a more intimate, and adventurous type of travel, hence my interest in a hostel-like setting
I’m currently in the very early planning stages of a sort of hotel/b&b/hostel hybrid and looking for similar minded individuals to lend any help, be it in the form of partnership or even just sharing some wisdom or expertise.
I really want a small resort-type setting, that has a real focus on adventure travel, think scuba diving, surfing, guided hikes and other such activities depending on the area, that could act as future revenue streams. I’m lookin for a place that ultimate brings such activities together with a great bar and a great social space that allows for the social atmosphere of a hostel (but not a “party hostel”) but caters more toward the traveller who wants their own bed at night, and not to share a room with 15 other backpackers.
Based on the research I have gathered, Latin America is widely appealing because foreigners can own property in many of the countries, as opposed to, say, SE Asia where most countries require a partnership with a local having majority ownership. Costa Rica, climate, politically, and geographically is a very attractive option, however it is not one of the most expensive countries in CALA. That isn’t necessarily a deal breaker, but would likely require substantially more capital than neighbouring countries. I have a few countries that top my list, but I’m interested to hear about Columbia.
Regards,
Trevor
7 years
Agree Trevor
I initially looked at the Philippines because I spent 18 months living there but even with irrevocible power of attorney and deed of usufruct, youre still vunerable to local powers that be and who disagrees with you there.
Latin America appeals for the reasons you outline above.
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