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?