BUSINESS IDEA FOR SANTO DOMINGO!

[MarkDR]

I have often thought the expat community would be well-served by creating an association of expat entrepreneurs with regular meetings and communications to discuss the challenges of operating a business in the DR, understanding various regulatory changes as well as a voice in political decisions. One function could be an advisory service to those considering entering business in the DR. A lot of emotional and financial pain could be mitigated with such a service.

A business opportunity for potus?

 

[caribmike]

Those kits are available everywhere, 'Fish.

Not at the street corners (yet), only window wipers and chargers 'n stuff...

 

[JD Jones]

I have a middle class friend in SD who hires a Haitian woman to cook, clean and wash/iron her family's clothes. Just sayin'.

Doesn't everybody? (Well....mine is Dominican)

 

[CristoRey]

I've been living here now for almost 6 years. I've never seen an
electronics store selling space heaters. I bought mine on Amazon
and had to have it shipped down using EPS. Depending on where
you live on island, they are an absolute necessity. Just a thought.....
My Honeywell UberHeat™ Ceramic Heater was worth every penny!

 

[Russell]

[Wet Blanket Alert]

1. Do not take advice from anyone who has never been in business successfully whether the DR or elsewhere. Their advice is worthless.
2. Do not take advice from anyone who has never started a business in the DR, successful or not. I am referring to formal, tax-registered businesses, not some freelancer doing something for petty cash.
3. Do not start a business that can be duplicated with modest capital or effort by a local. They WILL compete with you and grind you into a pulp on price, and they *will* outhustle you.
4. Only start a business with significant barriers to entry, whether capital, specific and rare expertise or cultural.
5. Do not start a business that depends on revenues coming from the local economy, whether tourists, expats or Dominicans, unless the product is extremely rare or you have great expertise.
6. To think there is some niche that locals have not figured out is to be woefully naive.
7. Do not invest a peso into any business run by someone else without a verifiable track record of both success and honesty.
8. Never start a business because some local says it would work.
9. Never start a business that has significant debt that you cannot personally afford.
10. Never start a business that is seasonal unless you can pull the plug on all costs during the off-season.
11. Never start a business without 3 x the expected start-up costs in the bank, and do not touch that stash for personal needs.
12. Never start a business that depends on a "Key Man" for success.
13. Never start a business without sole signature authority on the bank account.
14. Never start a business in the DR if you have any addiction issues, whether women, drugs or alcohol. You need clear thinking 24/7/365 without distractions.

If you look around at businesses started by expats that fail they violate one or more of the above. If you look at businesses started by expats that succeed they violate none of the above.

$60-70k is not even close enough to start any real, legit business in the DR. You would be buying yourself a poor-paying job that would eventually work you into the dirt with little satisfaction in life...unless you have considerable income coming from outside the country.

[/Wet Blanket]

I have often thought the expat community would be well-served by creating an association of expat entrepreneurs with regular meetings and communications to discuss the challenges of operating a business in the DR, understanding various regulatory changes as well as a voice in political decisions. One function could be an advisory service to those considering entering business in the DR. A lot of emotional and financial pain could be mitigated with such a service.

Now that is what I call good advice.
Bravo !
Business in this country is 24/7 and upwards of 16 hour days... includes fretting and stress moments.
Get into a business where you cannot be cloned..... that will take a bit of thinking.
Or just enjoy your money fine food good wine and a drink of rum.... $100,000.oo usd can go a long way doing this!

I own shares in three RD businesses ; when I first invested I told myself that I will not look for these investments to support me for a very long time. In fact I suggest that you invest only if you are prepared to loose it all. Not much of an incentive, just my opinion.

I once told an Investor in the Yacht Building if he keeps investing in this particular brand of Yachts he will become a millionaire ; he said he is already a multi-millionaire..... I was right and it took only 3 years for him to become a millionaire.

Listen to Cobraboy
Russell

 

[MarkDR]

Doesn't everybody? (Well....mine is Dominican)

I was just responding to Caonabo who had mentioned (with regards to a laundry shop business), "... I do not know of too many doctors, lawyers, and university professors who have the free time or desire to wash and iron their own clothes." I thought, well if my middle-class native Dominican friend can afford a maid couldn't these professionals?

 

[william webster]

In my opinion, going to the laundry and hiring a laundress are two different worlds -
financially and otherwise

I expect you'll find the laundry more economical & the laundress more convenient.

After you hire the laundress , read the severance thread.

Laundress necessitates at home equipment.... space,etc
Dryer , and so on

It's the classic 'own vs rent' discussion....
and each side has its opinion

 

[chico bill]

I've been living here now for almost 6 years. I've never seen an
electronics store selling space heaters. I bought mine on Amazon
and had to have it shipped down using EPS. Depending on where
you live on island, they are an absolute necessity. Just a thought.....
My Honeywell UberHeat™ Ceramic Heater was worth every penny!

Not needed on the North Coast but what does it cost you in electricity ?

 

[MarkDR]

In my opinion, going to the laundry and hiring a laundress are two different worlds -
financially and otherwise

I expect you'll find the laundry more economical & the laundress more convenient.

After you hire the laundress , read the severance thread.

Laundress necessitates at home equipment.... space,etc
Dryer , and so on

It's the classic 'own vs rent' discussion....
and each side has its opinion

I wasn't trying to compare or advocate one service over the other William. I wasn't even talking about a laundress. I was talking about a maid. So the comparison is not even a good one. When you pay a maid for her service, it often includes 1. Cooking 2. Cleaning apartment/house 3. Washing/ironing clothes. And the only reason I mentioned this is because I thought of professionals being able to afford a maid.
I do realize that maids are not for everybody. And I also realize that some people would appreciate the convenience of having an out-of-home laundry service.

 

[william webster]

I understand your point and the multi tasking of household staff....

My point to you was affordability is not all there is.

There are many things we can 'afford' but choose not to have.
Simple as that

An extreme..
many who buy time/hours or 'lease' jets can afford one but choose not to.

the case in question here may point to a single professional...
live alone or with friends.... no in house staff

That stereotype... buys take out food, doesn't do laundry...etc

At least my take

Whether and how well it applies to RD is the real query

 

[Russell]

I was just responding to Caonabo who had mentioned (with regards to a laundry shop business), "... I do not know of too many doctors, lawyers, and university professors who have the free time or desire to wash and iron their own clothes." I thought, well if my middle-class native Dominican friend can afford a maid couldn't these professionals?

Similar to Molly Maid... easy to clone and undercut.

 

[chrisgy]

My only advice is get into something that you actually love doing.

 

[william webster]

and remember....

as to competition , undercutting and so on

depends where you're doing it.
Small pond with a big fish .... or just another fish in the pond.

sometimes, copying ideas from big towns in small ones .... pays off.

contra thinking

 

[JD Jones]

Similar to Molly Maid... easy to clone and undercut.

There are various professional maid services here in SD. More expensive than having one you pay directly, but eliminates a lot of potential problems.

Lots of middle class and even lower middle class folks have live in and daily maids. It's a status symbol to go to the mall with your "servicio" in her uniform.

 

[william webster]

haha
so true

we have a Dominicana here in Cabrera who takes 2 with her to the airport
just to show off.....

Jeffa is from here with a rich German esposo... too old to travel
you can imagine the rest

written right off the proverbial script.....

 

[JD Jones]

haha
so true

we have a Dominicana here in Cabrera who takes 2 with her to the airport
just to show off.....

Jeffa is from here with a rich German esposo... too old to travel
you can imagine the rest

written right off the proverbial script.....

I have seen many with two, and more that a few with 3 children or more and a nanny for each child.

 

[william webster]

Like the cars....
if it can't be seen....

The French have a word/phrase.........nouveau *****

 

[cobraboy]

Like the cars....
if it can't be seen....

The French have a word/phrase.........nouveau *****

We might be the only gringos without domestic help.

 

[william webster]

Funny , because the oldest money you can't hardly find....
they prefer to show off clothes they have had for 40-50 yrs... shoes especially

My former landlady's maiden name was Otis - you can imagine

She was proud that she made clothes from her own sheep.
They were sheared on the property, the wool/cloth was made - then the clothing.

Think that was cheap?
She was being frugal in her mind...

True story

 

[JD Jones]

We might be the only gringos without domestic help.

I've always had one. Most have happily been "multi purpose"