businesses for sale

[looking4info]

I am looking for a good business for sale in the DR. I am looking for a kicked back business that is eather owner operator or 1 or 2 employees max. I have been in business for last 14 years and have had up to 13 employees and am looking to semi retire. I am looking for something under 100,000 US or 150,000 with a residence. Not interested in anything that is tied to a lease. I am coming to DR soon and want to know any feedback on what business look promissing in the DR.Will only be there month or 2 for now. I am looking towards the south and north coast but dont hear alot about the eastern end of the island. Is it a good area to live and hows tourism there? Would like any info on areas as far as business opertunites. Would prefer to come down and work for a while and find something from the inside and havent seen much info as far as working as a 34yo english speaking gringo, Is there any? plan to start learning spanish when im sure of my depature date should help? So any info on this would be appreciated.

 

[jorgesarduysousa]

definitely learn the language or your partner has to, if not everyone will steal you blind, you dont need to invest $$$$ tons, first find what you like to do being confined to a store, candy store [you have to love candy] pet store [you have to love animals].
Remember your going to be locked up the best amount of the day until it gets off the ground.

if you need to go into detail, pm me
regards

 

[looking4info]

well for the most part my thoughts are towards bar/resturant with me just working a shift SMALL outfit, tourist exscursions boat or local. but never know what people will think is good and the fact that i am looking for something new to me any other peoples ideas are appreciated. I do know the risks of being in business not gunna just jump right in unless THATS THE ONE! more looking for others peoples thoughts of what they think are good markets in the area so I can look into what is most appealing to me while i am there. I am just looking for something to pay my cost of living while there with my assets and roof over my head payed for IE the 150,000 so a good way to invest with some return and not work that hard and live desent.

 

[mike l]

With all do respect every one and their brother would like to live the " Dream " so why would anyone hand you a business plan for success when there are more people looking and failing and don't forget the locals as it's their Island so you just can't come here and put up a sign and expect to be successful.

Posting how much you could lose is not a wise idea either.

There are several restaurants that open and close each year here....don't forget location, location, location and that will cost $$$ and if it was such a great location why are they out of business???

Not too many " Investors" do any market research when coming here, which is like saying " If you Fail to Plan" You Plan on Failing.

Have a business plan prepared but you will need to know what your break even point is and how many tourists leave an all inclusive because if you are going after the expat community to make a buck you will have to stand in line!

 

[looking4info]

well thx for the info but don't think I'm getting what I'm after probably cause its a new post and i need to clarify some more. I am looking to buy a established turnkey business not start 1.(IE supporting whats there not trying to take from some local) Not trying to come down and get rich just don't have the means to support myself for ever. As far as business open and closing year after year ya its business people start with to high expectations under funded they just hate it ext ext ext. thx for your concern and input but I am really just interested in what are good areas and types of business that seem to do ok IYO and the owners live ok not lavish just ok. i can be very frugal if i need to be. so any response's toward those things are greatly appreciated.
and mike am i really asking for a business plan? I think not buddy

 

[mike l]

Just be careful and nothing here is Turn Key?

Create a demand outside of the DR or fufill a demand ...as that is what marketers do!

The most important advice I can give is to never " BUY A JOB "

For example you can pay $40k to open your own bar on the beach right next to 37 others....but yours will be different... but there are only 27 gringos on the beach that day and half of them live here!

I just go for a swim each day and am not interested in a lounge chair..etc.

 

[Robert]

As a business owner in the DR for 10 years, you are going about this ALL the wrong way. Right now I guarantee you will loose you entire investment, if not more with your current strategy of looking for a turnkey business etc.

I don't care if you have been successful in the USA, Europe etc, doing business here is a different animal. For every successful business I see owned and run by expats, I know of 10 that have failed, primarily due to very poor due diligence or arrogance (biggest business killer).

Your first step is to pour over DR1, read everything. We are by far the largest pool of knowledge on the Dominican Republic. 10-15 of our posters own and run successful business here and I guarantee that all will agree with what I'm about to say.

- You need to come here, get to know the country and how it works.
- You need see and hear the mistakes others have made and are still making.
- Get to know the culture and how Dominicans work and don't work.
- Know the local tax system, laws and accounting techniques and who you can trust to show you how these function etc.
- Learn the language.

Once you have a grasp of the above, than start looking around.

In my experience, only those that go through the above steps, stand any chance of survival.

 

[Adrian Bye]

I agree with Robert. But the easiest way to get started is to come down and get a job in the industry you want to own a business in. Do that for 6-12 months, and if you still want to run a business, then buy one.

You'll have a much greater chance of success and will be less likely to lose all your capital which is what will likely happen if you continue on your current path.

 

[waytogo]

As a business owner in the DR for 10 years, you are going about this ALL the wrong way. Right now I guarantee you will loose you entire investment, if not more with your current strategy of looking for a turnkey business etc.

I don't care if you have been successful in the USA, Europe etc, doing business here is a different animal. For every successful business I see owned and run by expats, I know of 10 that have failed, primarily due to very poor due diligence or arrogance (biggest business killer).

Your first step is to pour over DR1, read everything. We are by far the largest pool of knowledge on the Dominican Republic. 10-15 of our posters own and run successful business here and I guarantee that all will agree with what I'm about to say.

- You need to come here, get to know the country and how it works.
- You need see and hear the mistakes others have made and are still making.
- Get to know the culture and how Dominicans work and don't work.
- Know the local tax system, laws and accounting techniques and who you can trust to show you how these function etc.
- Learn the language.

Once you have a grasp of the above, than start looking around.

In my experience, only those that go through the above steps, stand any chance of survival.

Very good advice. And after you have done this, study it again.

 

[looking4info]

As a business owner in the DR for 10 years, you are going about this ALL the wrong way. Right now I guarantee you will loose you entire investment, if not more with your current strategy of looking for a turnkey business etc.

I don't care if you have been successful in the USA, Europe etc, doing business here is a different animal. For every successful business I see owned and run by expats, I know of 10 that have failed, primarily due to very poor due diligence or arrogance (biggest business killer).

Your first step is to pour over DR1, read everything. We are by far the largest pool of knowledge on the Dominican Republic. 10-15 of our posters own and run successful business here and I guarantee that all will agree with what I'm about to say.

oh my i have been reading on dr1 for 3 months off and on now and looking at things in the caribbean for years for a place that looks appealing to me. and the DR looks the most promissing so far. damn can anyone stick to a subject again thx for your concern but can we please try to answer the question that was asked dont assume that this is a bran new idea to me.

- You need to come here, get to know the country and how it works.
- You need see and hear the mistakes others have made and are still making.
- Get to know the culture and how Dominicans work and don't work.
- Know the local tax system, laws and accounting techniques and who you can trust to show you how these function etc.
- Learn the language.

Once you have a grasp of the above, than start looking around.

In my experience, only those that go through the above steps, stand any chance of survival.

yes very good advise and I thought that is what i am doing? so much critasizem!! thanks for the advise but can people PLEASE keep the answers towards the question?

 

[Adrian Bye]

perhaps do us all a favor and keep an online diary in your own thread here on dr1 with your progress on your business venture. if it works, it'll help serve you as a marketing tool for your business and if it doesn't, it'll show others what not to do

 

[TheHun]

I'd put my US$ 150K in a bank and start earning around 15% interest. It's around US$ 1800 or DR$ 67,500 /month. It would allow you a fairly steady but not a luxury living - with your principal in the bank, meanwhile looking for the right business opportunity. This way you can move here, do lots of research,maybe get employed in the area to see the whole picture and when, absolutely sure about the "this is the one!" thing, and the income would generate more than the 15% above, than withdraw and hit it.
Please ask yourself, if you would have a perfectly running business, generating an excellent income, would you need a partner??
Now, would you invest in a non-perfectly going business, perhaps a brand new business based on an advise from an online forum?
If you say yes after all, I have the perfect opportunity for you..

The Hun

 

[looking4info]

I'd put my US$ 150K in a bank and start earning around 15% interest. It's around US$ 1800 or DR$ 67,500 /month. It would allow you a fairly steady but not a luxury living - with your principal in the bank, meanwhile looking for the right business opportunity. This way you can move here, do lots of research,maybe get employed in the area to see the whole picture and when, absolutely sure about the "this is the one!" thing, and the income would generate more than the 15% above, than withdraw and hit it.
Please ask yourself, if you would have a perfectly running business, generating an excellent income, would you need a partner??
Now, would you invest in a non-perfectly going business, perhaps a brand new business based on an advise from an online forum?
If you say yes after all, I have the perfect opportunity for you..

The Hun

thx for something interesting and usefull I would love to find a bank to even get 10% (15% seams unrealistic) but if you have leads in that direction please pm me. as far as partners go I am looking for a solo venture. thx

 

[Santiagoguy]

oh my i have been reading on dr1 for 3 months off and on now and looking at things in the caribbean for years for a place that looks appealing to me. and the DR looks the most promissing so far. damn can anyone stick to a subject again thx for your concern but can we please try to answer the question that was asked dont assume that this is a bran new idea to me.





very good advise and I thought that is what i am doing? so much critasizem!! thanks for the advise but can people PLEASE keep the answers towards the question?

I hope you run a business better than you spell :laugh:

 

[looking4info]

I hope you run a business better than you spell :laugh:

:laugh::laugh::laugh::laugh: probly not

 

[TheHun]

thx for something interesting and usefull I would love to find a bank to even get 10% (15% seams unrealistic) but if you have leads in that direction please pm me. as far as partners go I am looking for a solo venture. thx

I'm sure some one can give you an up to date info on the CD rates.
One year ago I had a good offer from Banco Popular, 14% with only 1 year.
I think the Central Bank rate was 16% for 3 years.
I have not checked it lately.
You have to convert your US$ to DR$. They pay peanut for US$...
There are few experts on the board, they might chime in, or perhaps you should start an other thread about the current interest rates.

The Hun

 

[Expat13]

thx for something interesting and usefull I would love to find a bank to even get 10% (15% seams unrealistic) but if you have leads in that direction please pm me. as far as partners go I am looking for a solo venture. thx

When selecting your investment instrument locally, always make sure factor in the obvious cons. i.e. Currency volatility, inflation and the stability of the financial insitution, as well potential government irregularties.
Being in the finance industry working in latin america I have heard of many too good to be true offers-yet far more disater stories (No FDIC insurance here). Be wise-be careful:glasses:

 

[looking4info]

When selecting your investment instrument locally, always make sure factor in the obvious cons. i.e. Currency volatility, inflation and the stability of the financial insitution, as well potential government irregularties.
Being in the finance industry working in latin america I have heard of many too good to be true offers-yet far more disater stories (No FDIC insurance here). Be wise-be careful:glasses:

thx very good things that get forgot in the heat of the moment. and have read that yes you can accually get these kinds of returns dose anyone accually do this and if so what has your exsperiance been? I would love to just come down and live on intrest but not sure if I can trust anyone to have control over my money.

 

[Expat13]

thx very good things that get forgot in the heat of the moment. and have read that yes you can accually get these kinds of returns dose anyone accually do this and if so what has your exsperiance been? I would love to just come down and live on intrest but not sure if I can trust anyone to have control over my money.

Someone else having control of ones money is "yes" a scarey thought. Unfortunately to some levels of degree-this is exactly what we do the moment we invest in any investment vehicle.And holding on to ones cash with todays inflation rates is very painful as well, so we need these instruments to weather the storm and protect the value of our assets.
All one can do is due dilligence on where the money is invested and make sure the company has a solid reputation, a very high level of money under management, and extensive years in business.Not to forget location and the inherent tax laws in that jurisdiction. The S&P has a rating system that helps do this AAA being the highest yet vaer scarce these days.
Be wise!!

 

[El_Uruguayo]

well for the most part my thoughts are towards bar/resturant with me just working a shift SMALL outfit, tourist exscursions boat or local. but never know what people will think is good and the fact that i am looking for something new to me any other peoples ideas are appreciated. I do know the risks of being in business not gunna just jump right in unless THATS THE ONE! more looking for others peoples thoughts of what they think are good markets in the area so I can look into what is most appealing to me while i am there. I am just looking for something to pay my cost of living while there with my assets and roof over my head payed for IE the 150,000 so a good way to invest with some return and not work that hard and live desent.

While the bar or restaurant can be profitbale, it is very difficult to work as an absentee owner, unless you have people you can trust. Because when it comes to cash businesses, letting someone else run the place is akin to letting someone else control your cash. There is a lot of theft at bars and restaurants - some owners dont even clue in to the extend because they are still making a profit, after theft. What I suggest is you hire El_Uruguayos bar service, give me a decent pay, some incentives, and Ill do all the work - leaving you to collect a nice paycheque whilst you sit at the beach, and visit your bar on occasion to enjoy a beer - and not have to bother about the little details. I have the credentials, the network, and the know how.

While I dont realistically expect you to take up the offer (at least I tried), the key is that absentee ownership is hard to accomplish succesfully, there are a few that have done it, but the key is having trustworthy partners or managers - otherwise, bar ownership can turn you into an overworked, overstressed, paranoid person who thinks everyone is out to get them (not just in the DR, but moreso in the DR). With what youre looking to invest, you can create a profitable business with returns of that same amount after a year or so, but as you know, due diligance is required, and most imporantly good people are necessary, and few and far between. My offer still stands. hehe