Best Business in the DR

chico bill

Lobotomy Surgeon
May 6, 2016
7,485
1,541
113
A business consulting service.

For $200 an hour, I will explain with graphs and pie charts why someone who has never been in business before should not even consider it in the DR, unless that have a morbid wish to rocketsled into brokeness.
The best business I have seen and they don't track with pie charts is money laundering
 

chico bill

Lobotomy Surgeon
May 6, 2016
7,485
1,541
113
Because
Any jobs related to construction can do well (Architect ,Builder ,Electrician, wood worker ,tiles ,custom windows,...)

Based on my experience after building a house ,If you are really qualified in your job ,speak some english, understand expectation from gringos and not the mañana pattern, you should do well because you are quite unique and they are demands.
Because those builders are like Sasquatch - occasional sightings but they don't really exist
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,041
389
83
-
I’ll say it again. Vending machines.
But is that a moral business my man ❓
Because I am hearing that morality is a very important part of business.
If a business man makes a decision that ultimately gets people killed...
Should he go to jail on behalf of the organization he was responsible for❓
 

chico bill

Lobotomy Surgeon
May 6, 2016
7,485
1,541
113
the best thing to do with that dirty money is, build more luxury hi-rise apts,/condos....
One business that seems too prevalent is to sell lots cheap and let lesser sophisticated Dominicans build homes on them, then the real owner arrives and tears down one or two of the lesser homes and extorts the remaining residents a high price for the lots.
Such just happened in Puerto Chiquito
Or a "government" official steps in to offer to 'cure' the problem for 50,000 pesos.
Way too many property scams.
 

Yourmaninvegas

I am here to protect and serve
Feb 16, 2016
1,041
389
83
-
The best business I have seen and they don't track with pie charts is money laundering
One business that seems too prevalent is to sell lots cheap and let lesser sophisticated Dominicans build homes on them, then the real owner arrives and tears down one or two of the lesser homes and extorts the remaining residents a high price for the lots.
Such just happened in Puerto Chiquito
Or a "government" official steps in to offer to 'cure' the problem for 50,000 pesos.
Way too many property scams.
Are we writing about businesses here or illegal operations❓
 

windeguy

Platinum
Jul 10, 2004
34,586
1,949
113
The best business in the DR is not to open a business at all. A 95% failure rate is probably optimistic.

Come here if you like the area to retire with enough of your own cash to do so.
 
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Liberator

Luck is for the unprepared
Jan 23, 2021
34
14
8
Europe
There is quite a lot to do in the field of real estate (mentioned earlier)
Benefit; you stay 'under the radar' for all kinds of people who 'want something from you' (and I don't mean a presidente from the colmado)
 
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NanSanPedro

Nickel with tin plating
Apr 12, 2019
2,186
1,787
113
There is quite a lot to do in the field of real estate (mentioned earlier)
Benefit; you stay 'under the radar' for all kinds of people who 'want something from you' (and I don't mean a presidente from the colmado)

I'm not really interested in any business ops, but am curious as to why you suggested RE. Unless you have a real good (read expensive) lawyer, how do you know you have a true title? And even if you do, if someone challenges it I have read here that it could take years to go thru the courts. It sounds like it could be a nightmare.
 

Liberator

Luck is for the unprepared
Jan 23, 2021
34
14
8
Europe
I'm not really interested in any business ops, but am curious as to why you suggested RE. Unless you have a real good (read expensive) lawyer, how do you know you have a true title? And even if you do, if someone challenges it I have read here that it could take years to go thru the courts. It sounds like it could be a nightmare.
Have some experience for about 30 years. Choose my projects with care and do my homework. I have never experienced checking and / or obtaining a title as a problem. In addition, I prefer to participate in a new building and do business directly with the developer instead of a broker.
In the middle segment it is fine to rent out and / or sell (even during covid) that is my personal experience. Can I imagine that this does not apply to everyone.

Cheers!
 

JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
3,590
1,547
113
Reb
Have some experience for about 30 years. Choose my projects with care and do my homework. I have never experienced checking and / or obtaining a title as a problem. In addition, I prefer to participate in a new building and do business directly with the developer instead of a broker.
In the middle segment it is fine to rent out and / or sell (even during covid) that is my personal experience. Can I imagine that this does not apply to everyone.

Cheers!
Renting out here is a whole nuther thread.

One has to definitely do due diligence when they rent out their place.

I can tell you quite a few horror stories I know about personally..
 

PICHARDO

One Dominican at a time, please!
May 15, 2003
12,795
567
113
Santiago de Los 30 Caballeros
The best business in the DR is not to open a business at all. A 95% failure rate is probably optimistic.

Come here if you like the area to retire with enough of your own cash to do so.


I know plenty of businesses in DR with more than three and over four decades with open doors.

Their shared trait is national sourcing.
Have you noticed how even a can of pringles at the local supermarket is smaller than their international size? As a matter of fact that size doesn’t exist in their homes markets.

Yet the price remains the same vis to vis.

If you want to make a good biz on the DR, concentrate in sourcing locally first and foremost.
 

JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
3,590
1,547
113
I know plenty of businesses in DR with more than three and over four decades with open doors.

Their shared trait is national sourcing.
Have you noticed how even a can of pringles at the local supermarket is smaller than their international size? As a matter of fact that size doesn’t exist in their homes markets.

Yet the price remains the same vis to vis.

If you want to make a good biz on the DR, concentrate in sourcing locally first and foremost.
Plenty of U.S. snacks are made right here in the DR. Frito Lay has a plant just down the road from my business.
 
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PICHARDO

One Dominican at a time, please!
May 15, 2003
12,795
567
113
Santiago de Los 30 Caballeros
Plenty of U.S. snacks are made right here in the DR. Frito Lay has a plant just down the road from my business.

A very small percentage at that,
The bulk is for exports.

For example Baldom (Baltimore Dominicana S.A.) produces their main products with over 60% of national raw materials. The rest are divided into an smaller qty of raw products of external origin and indirect materials in a larger share.

The use of nationally sourced products allows the company to control costs more effectively.
They first served the local market and later expanded overseas with great success.

Same happened to Gatorade, which supplied the local market from their hubs in US locations, when Distribuidora Corripio introduced their goods to the local market in early 2000’s.

The brand had good traction in the local market and expanded once Pepsi co. decided to carry it in the market direct.

Soon after they opened a hub here in the DR to supply not only the local market but the region as well. They also introduced local raw materials into their production chain and haven’t looked back since.

This effect repeats in many other industries as well. From personal experience back in the 80’s Amfesco Industries (parent company) imported everything come raw material and indirect goods for their two plants in Santiago Free Trade Zone, Domjet industries and Domfesco industries.

After the first two years they were able to switch some of that to local national suppliers. Which kept their costs under control during some of the worst economic conditions in the region.

Later, a deal was struck with Bojos Tannery in the DR and hedging of the upper sole materials could be introduced effectively.

Other local tanneries later joined for some products, keeping the fabrics 100% of US origin to comply with rules, along soles which were added to the final product in the Puerto Rico plants.

Bojos sourced a part of their raw leathers from US producers, so it complied with rules of origin for the upper soles.

Take a sector like US franchises in the DR.
We all know that companies like McDonalds are not into the food biz, but real state.

McDonalds is a purely real state driven company. It just so happens to do so in the food niche of said business.

In the DR, the RE part was not conforming as it was in other external markets (like China) due to low rents and high real state property values (in our case) and lack of long term ownership (like China).

They also adapted to source from the national market and found their pívot interests there.