Hi guys,
I'm trying to estimate how much initial start up capital I will need to open a hostel. Obviously there are infinite factors that will affect the total, but I'm trying to get a rough figure so I can ultimately decide if the project is worth pursuing. I'm currently working 7 days a week including the odd 3am start to build up my savings and for all that work I would love to be able to say/think that "I am opening a hostel" as opposed to "I'm hoping to open a hostel".
The hardest costs for me to estimate are the refurbishment costs. I was thinking of contacting some tradies (plumbers,sparkies etc) to ask for quotes for jobs but I don't want to waste their time with quotes that aren't ever going to result in work.
Any ideas on how I can estimate these refurb costs?
Thanks
Andy.
17 years
Is that for Prague? I've never been there... My experience is more in the daily operations and marketing side of things...
Another place you might want to ask that question is on the Eastern Europe branch of Lonely Planet's Thorn Tree forum. There are probably some people from Prague in that forum who might know refurb costs...
17 years
I want to open in Prague, but I'm making an estimate based on costs in Australia. The estimates are more to prove to myself that its viable given the amount of capital I will have access to..
I'm going to move to London in June 2008 and will be able to visit Prague to get real figures then.. The Thorn tree forum sounds like it could be useful as well..Thanks.
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