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Living off a Small Business in Sosua
Lambada said:You have a name that is pronounced the same as another poster. Interesting..............
Who are you talking about?
small business
My advice and we are not living there yet is : Go find a beautiful home with everthing you want and need, equip it with generator/ inverter/ water purifier/ no mortgage etc/ have enough money in investments to live without working/ do some sort of business as a hobby, if you need or want to, then sit back smell the roses or the bourganvilla ( sorry if I did not spell it correctly ).
Lambada said:
My advice and we are not living there yet is : Go find a beautiful home with everthing you want and need, equip it with generator/ inverter/ water purifier/ no mortgage etc/ have enough money in investments to live without working/ do some sort of business as a hobby, if you need or want to, then sit back smell the roses or the bourganvilla ( sorry if I did not spell it correctly ).
Larry said:
Hi Larry,
Thanks for the reply. My husband has visited 3 times so far. I have gone but once. We're planning on buying a bar and / or restaurant. We also are starting to consider buying the land and building our own business ourselves. Still, and for the moment we are mostly worried about the kind of returns we should expect from our venture.
take care,
D.
Jimmydr said:
If you don't expect to work hard and maybe lose it all, then don't become an entrepreneur either in the DR or anywhere!!
That's what it takes to run a business anywhere in the world. Work hard and handle the risks!!
If that puts you off, then don't start a business anywhere, it would be for your own financial good.
However, if you are ready to accept such thing (the opposite of risks and hard work is time freedom and great monetary rewards) then take that one step up!
Keep in mind that in general, most small businesses fail within their first 2 years of operation. Things might be different if you focus on the tourist trade, but in general anywhere in the world that is the case.
Also keep in mind that "Every failure plants the seed for an equivalent or greater reward" of course, that only is true for people that know that "Failure only comes true, when you believe you failed".
In other words, never give up. Owning a business is tough, but if you never give up, doesn't matter how awkward it might get, you will succeed.
Good point!
Good and important advise to keep in mind.
With sadness, I have finally realized that DR is not the place to go for a laid back and comfortable life, away from stress and hard work. (Unless you are super-rich of course!) I wonder if there is any such place anywhere on this planet?
Nal0whs said:
Good and important advise to keep in mind.
With sadness, I have finally realized that DR is not the place to go for a laid back and comfortable life, away from stress and hard work. (Unless you are super-rich of course!) I wonder if there is any such place anywhere on this planet?
Voyager said:
Well, don't quit just now! You could live a laidback and comfortable life, away from stress and hard work. It's just that owning a business is not going to cut it, of course it depends on the business.
A simple turnkey type business might not be as hard or stressful as running a restaurant. Then again, who said you have to do the work! Most of the folks I know who own businesses in the DR don't even work! They just "babysit" from time to time at the different businesses they own around the island.
All they pretty much do is wake up in the morning, go by one of their businesses and spend much of the morning there (to keep an eye on some of the employees), then at noon they go home for lunch and never go back to work for the remainder of the day! And due to how much income they are getting from their combined businesses, they are living very comfy!
small business
I agree 100%. When the going gets tough, the tough get going. I have been in business since I was 19 years old and today, thanks to perseverance. we can smell the bourganvilla but do not believe for a minute that I have not been there done that and got the tee- shirt but running a bar? Come on, that' 24/7 and as you say, lose it all, unless you can afford to do it in a big way. Ask Rocky, he seems to know.
Nal0whs said:
I agree 100%. When the going gets tough, the tough get going. I have been in business since I was 19 years old and today, thanks to perseverance. we can smell the bourganvilla but do not believe for a minute that I have not been there done that and got the tee- shirt but running a bar? Come on, that' 24/7 and as you say, lose it all, unless you can afford to do it in a big way. Ask Rocky, he seems to know.
I think you should spend more time in the DR observing, asking and researching before you even consider opening any kind of buisness. Remember that if it were as easy to just pop down there and start turning a profit as you hope it to be, everyone would be doing it...and succeding at it. Plan your move first and once you get there, you can start inquiring about opening a buisness. Take your time and use your head. Make sure you have plenty of reserve $$$ to fall back on. Learn as much as you can before you sink money into something. Knowledge is power...no matter where you are.
Larry
Larry
Nal0whs said:
Well, I have myself been in the restauration business for over 6 years now and I am hoping that my general knowledge can be adapted to the DR. We are not particularly looking at making $$$ instantly or at lounging by the beach all day. Thanks for all of the advise that you guys provided. I guess it is pretty much the same I would have gotten if I was to invest below Ave C in the lower east side of NY 5 years ago.
Take care,
All.