15 years
The immediate consideration in buying an established business of any sort is you inherit their reputation.
This can be great, or a big challenge.
I've never bought a hostel, but the one I've managed for the last two years had some 'reputation problems'. Much of this stuff takes time, patience and persistence to change/fix. We're still not where I want to be with everything.
On the flipside, the first hostel I worked at had such a great reputation marketing wasn't necessary. Word of mouth did everything.
I'm happy to PM you specifics, or talk in more general terms here if you want more info.
Log in to join discussion