Investing in Carro Publico or Prestamo Business?

[Rep Dom]

sure you must trust others to manage business, but in a country where trust means something

how long have you been here

 

[dv8]

I create startups and looking to invest. That's what I do. (...) Just looking for a good business opportunity in the DR.

but why here? do you have a permanent connection with DR?

 

[zoomzx11]

Look around. How many non Domininicans are running businesses and making money from the Dominican population? Think there is a reason for it being like that? Who knows maybe you will be a wild success story and be one of the very very few. Good luck.

 

[Derfish]

YOu can rent a five year old Honda CRV for 1200 pesos a day and not some fifteen year old corrola or less.

 

[shorts]

I had a taxista in SD once who told me he had to pay 200 pesos for his beatup honda for his shift.

 

[SantiagoDR]

Hey,

Let the guy start a business or two here.
The D.R. economy can use the "Grant" money.

 

[xstew]

First look at the sucessful people in the Dominican Republic. The best example are the chineese. Buisness is owned by one person HIM ! Wife is on cash register enclosed in wire ciclone mesh! Only employees are his children ! He has a machine gun under the counter, all money is checked with the latest counerfit machine . He talks to no one just watches all coustermers and non coustemers closley with hand on machine gun. Now that is how to run a Dominican Buisness .

 

[drstock]

I met a gringo here who set his Dominican wife up as a money lender. It ended up very badly.

I note that the OP has not answered how long he has been here or how well he knows the country.

 

[bienamor]

old saying here on how to make a small fortune start with a large one.

 

[rice&beans]

Thank you dv8 and to others that have commented. Regarding asking a bunch of strangers, your feeback is wisdom to me. Due dilligence before investing is essential. I either do it or I don't. I like #2 because I know and trust the local Dominican that would manage the business. She's a tough lawyer and really organized. Regarding picking up the money, thinking about creating an application for receiving loans and repayments. NOT one prestamista in Santiago does this.

You're totally insane for entertaining ANY of these so called business opportunitys......

CONSTANT PAIN

I don't care how smart and organized you are....

Hate to be so negative...........

(Personally I think you're full of it, and just trying to get a rise out of board members)

What's next?........A paper route.....


Have a great day genius!!

 

[CristoRey]

"Trusting others to manage a business is what the most successful VCs in the world do and have done since the beginning of the industry."

Things work a little different down here.

 

[Jarrote]

@Rep Dom and dv8:

I just returned to the states from Santiago and haven't spent much time in the DR yet. My visit was personal and business. I networked with a few locals that welcomed me into their homes, breaking bread over homecooked meals and showed me many parts of the DR with more to explore.

 

[Jarrote]

drstock, I do not live in the DR yet. Just returned from Santiago. Every country I visit, I immerse myself in the the culture. Speaking spanish helps.

 

[Jarrote]

rice&beans, I'll say my peace and leave you to it. Forums were originally created for civil discourse, believing that humans could govern themselves with little oversight from moderators. Not sure what you're doing in the DR or here on this forum but I didn't join to get a rise out of members. I joined because I am geniunely interested in feedback. Like other likeminded members here. If I am insane for entertaining any of these so called business opportunities, be a part of the solution (and not the problem) and suggest a business idea that offers a niche opportunity in the DR that I may entertain. I mean, you chose to comment on my OP. I hope my request makes sense to you.

 

[Bronxboy]

rice&beans, I'll say my peace and leave you to it. Forums were originally created for civil discourse, believing that humans could govern themselves with little oversight from moderators. Not sure what you're doing in the DR or here on this forum but I didn't join to get a rise out of members. I joined because I am geniunely interested in feedback. Like other likeminded members here. If I am insane for entertaining any of these so called business opportunities, be a part of the solution (and not the problem) and suggest a business idea that offers a niche opportunity in the DR that I may entertain. I mean, you chose to comment on my OP. I hope my request makes sense to you.

Nicely put!!!!!!

Except:

humans could govern themselves with little oversight from moderators.

We put alot of oversight on posters. That's what makes DR1, DR1.

I like your spunk!!!!

 

[josh2203]

rice&beans, I'll say my peace and leave you to it. Forums were originally created for civil discourse, believing that humans could govern themselves with little oversight from moderators. Not sure what you're doing in the DR or here on this forum but I didn't join to get a rise out of members. I joined because I am geniunely interested in feedback. Like other likeminded members here. If I am insane for entertaining any of these so called business opportunities, be a part of the solution (and not the problem) and suggest a business idea that offers a niche opportunity in the DR that I may entertain. I mean, you chose to comment on my OP. I hope my request makes sense to you.

As Bronxboy did, I liked this post as well.

I?m no business expert in any manner, but my educational background is only about that, and I have gained a fair share of experience as well. What I would perhaps do if I were you, is find out about more advanced business forms in the DR (that is, not colmados, carros publicos etc.) and try to see if you can step into that area.

Just a thought though, there have been a number of fairly large banking frauds in this country as well, so even sophisticated form of business is (in my opinion) not even comparable to a venture outside of DR.

If anyone invites you to invest, that would be a big red flag imo (just read your OP again, it seemed to have been the carro publico driver with the idea of investment...). If anyone, who does not know you well, invites you to invest, I?d consider that desperate from their part.

One thing that comes in mind, is an IT-company working for foreign clients, whereby you offer cost advantage with the "economical" programmers. I know this has been done successfully here. There would be a great deal of micromanaging needed here, but I know personally that it can be done.

 

[playacaribe2]

@Rep Dom and dv8:

I just returned to the states from Santiago and haven't spent much time in the DR yet. My visit was personal and business. I networked with a few locals that welcomed me into their homes, breaking bread over homecooked meals and showed me many parts of the DR with more to explore.

To quote you;

"Due dilligence before investing is essential."

Follow that advice. If you have not been to the DR other than the visit you referenced above.....you need to have a lot more time on the ground before "investing".......and even then.....

Both businesses you reference have their own special circumstances and nuances and both are over saturated. You should be looking at businesses allowing you to have first mover advantages and that have wide moats. Neither of those qualify.

Live there first.......and even then....proceed with caution.

Lots of posters here with lots of experience......sort through the noise....the board is for the most part a valuable resource....again good luck.


Respectfully,
Playacaribe2

 

[dv8]

jarrote, i am sure you realize that not every business can be run and managed virtually or with help of the others. both of the businesses listed would require your presence/supervision. if not for good, then at least for quite a long time before they take off. it may be more beneficial to think of offering virtual solution to others. applications, POS systems for various businesses, data base management and apps?

 

[Rep Dom]

Problem is those 2 businesses are very touchy and potentially dangerous especially for a gringo
Espacially when he does not know much of the dominican rules which are quite specials, If I may say

 

[Jarrote]

Much appreciated Playacaribe2 and to other posters. Regarding first mover advantage, was thinking "a mobile or web-based application" in the prestamo industry could be a game changer-- saturation aside. There are thousands of borrowers with mobile phones. If I were a borrower, trusted to receive a loan and repay it, I'd find it more convenient and customer-friendly to receive and repay the loan electronically than meeting in-person whenever I need it. Nevertheless, I will definitely think this through along with other potential opportunities. I plan to return by March/April.

@josh2203, I love technology!!