Hi everybody. Just curious about your opinions about opening up a hostel from scratch or buying an existing one that already has customers?
So many things to take into consideration. Location, Size, Occupancy throughout the year, employees, cost to run it each month.
I think it would be a very rewarding and fun thing to do, especially internationally.
14 years
I think its just like any other business...starting one is cheaper and more risky, buying one would be more expensive (in case it has high occupancy rates, one with low would be like starting one)and less risky; you can also find bargains but for that you need luck. You have to buy in case you think you can do better than the current owner
14 years
When buying a hostel business, what can they range from in price?
Thanks.
I think its just like any other business...starting one is cheaper and more risky, buying one would be more expensive (in case it has high occupancy rates, one with low would be like starting one)and less risky; you can also find bargains but for that you need luck. You have to buy in case you think you can do better than the current owner
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