Take some of that money you make in the DR, and get the hell out of Camden!!!!!
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- Thread starter HUG
- Start date
Costs of opening a bar.
how many of the businesses on the list provided by the OP have you tried to run in the DR?
...and don't tell to many people (better nobody) what and how exactly you did it! Otherwise everybody will try to copy you.
In my case, Camden is the name of a neighborhood in Minneapolis that has been very good to me.
No secret here. Real estate speculation. Purchase, rehab, resell. Some land speculation that has paid some impressive returns. Believe me, I spent a great deal of time researching the market and waited patiently for the "right deals" to come along. Contrary to what is said on this forum all the time, you can make $ in the DR. There are certainly a number of expats making a living (not getting rich) in the restaurant business. Not saying that's the best way to go but it can be done.
i do not recall seeing real estate speculation on the list of the options presented by the OP.
I guess I was under the impression that the OP was wondering if there are ways to make money in the DR. Maybe I was wrong.
you are not wrong. he asked if there are ways to make money in the DR, and you are living proof that it can be done. however, he gave a list of possibilities, and it is the considered opinion of most posters here that those are not good choices for commercial ventures here.
here you go, Xavier
Costco Business Delivery - Caribbean Delights Jamaican Spicy Beef Patty, 10/5 oz
Costco Business Delivery - Caribbean Delights Jamaican Spicy Beef Patty, 10/5 oz
Do you suppose the outcome changes when you start one of these listed businesses as a gringo alongside another native Dominican? I am considering opening a business in the DR, and when i read this stuff, it really brings me down! But then i realize that it really is a bunch of crap to say that none of these business ideas would work. Do your research and create your business plan just as you would do in your own country. Understand your customer as much as possible before opening your doors... What is the actual law on raising the rent? If the landlord follows the law i think it is capped somewhere around 10% per year although i haven't done any research just asked a Dominican. However, it certainly isn't 100% increase. If you follow the rules on business in the DR, pay your taxes, etc, I just dont believe that you would have to worry about that kind of corruption so much. I would like to read more small biz success stories, I know they exist!
Oh I can't wait to be a stark contradiction to the pessimism I have read here!
It's not just the landlords, it's also the wannabee future expats who will pay double or more for what a storefront is actually worth because they think owning a shop will automatically make money 365 days a year from day one. That drives up the prices for everyone and the landlord ends up with shops that are vacant half the time.
Colmado in the middle of guananico. Never worked. Lease changed hands. Hard working local dude ( religious too ----as if that had anything to do with anything!!!!!). Gets it going over the years. Makes a fair living out of it.( this is dominican campo so it is not bringing in millions by the way).
Landlord deceides now is the time to take it over. More than doubles the rent ( not far off triple actually). Thankfully the hard working dude has his father's colmado on a road out of town to fall back on ( location is worse but......).
Anyway. 2 things. First I think the landlord will have a hard time renting it out again.
Second, all the locals ( well there are only locals at here.....) plan on staying faithfull to the guy and shopping in his father's colmado.
We will see how things turn out.......
Landlord deceides now is the time to take it over. More than doubles the rent ( not far off triple actually). Thankfully the hard working dude has his father's colmado on a road out of town to fall back on ( location is worse but......).
Anyway. 2 things. First I think the landlord will have a hard time renting it out again.
Second, all the locals ( well there are only locals at here.....) plan on staying faithfull to the guy and shopping in his father's colmado.
We will see how things turn out.......
You need to do more research, it doesn't sound like you've been in the country long enough. Your landlord will start thinking about screwing you over the minute he sees a glimmer of your success. You can hire all the lawyers you want, they'll just scheme behind your back with the property owner on how to screw you over for even more, on your dime too! One effective countermeasure would be knowing someone who can lean on the other party, like a police general, a senator etc, - the way its done in DR.
Even when you buy, you have to worry about relatives of the prior owner coming around making claims on the property. There was the recent case of the orphanage that had a claim against it by some NY Drug dealer who got booted out of the US.
Another Success in the Making
You mean with your fianc?e?
In that case, yes, the outcome changes...
Who told you, that this applies to the Dominican Republic as well?
Nothing can go wrong then.
Before you know all the rules you'll be broke.
I am looking forward to reading your success story.
donP
You mean with your fianc?e?
In that case, yes, the outcome changes...
Who told you, that this applies to the Dominican Republic as well?
Nothing can go wrong then.
Before you know all the rules you'll be broke.
I am looking forward to reading your success story.
donP
I reckon that if you want to open or take over a bar then the reason should be clear.
If it's to make money then that's probably not the best reason but to have a bit of fun, meet people and keep yourself busy, then that's a great reason.
If, as well, you manage to cover all your costs and drink at cost in your own bar and dally the camareras, then that's a real bonus.
There is no way that I can see to calculate the costs of starting a bar as there are too many variables.
Where?, how big,what furniture, repairs, decor, stock etc plus rent, staff, legal costs and location, location, location.
Start with let's say $30K US and try to just pay for that which is needed as opposed to 'what I would like to do' and if the place is not too ambitious, you should have some change left to pay off your staff when you give up.......
If it's to make money then that's probably not the best reason but to have a bit of fun, meet people and keep yourself busy, then that's a great reason.
If, as well, you manage to cover all your costs and drink at cost in your own bar and dally the camareras, then that's a real bonus.
There is no way that I can see to calculate the costs of starting a bar as there are too many variables.
Where?, how big,what furniture, repairs, decor, stock etc plus rent, staff, legal costs and location, location, location.
Start with let's say $30K US and try to just pay for that which is needed as opposed to 'what I would like to do' and if the place is not too ambitious, you should have some change left to pay off your staff when you give up.......
DRDYL, this is your first mistake
"Do your research and create your business plan just as you would do in your own country."
this is not your own country. i guarantee that you have never seen anything like this. i just don't have all day to tell you why.
"Do your research and create your business plan just as you would do in your own country."
this is not your own country. i guarantee that you have never seen anything like this. i just don't have all day to tell you why.
Coming into the country and trying to start a business with your own arbitrary rules is like swimming into a rip-tide. If you fight against the status quo, you'll exhaust yourself and drown. You need to feel out the current and ride it out until you can get some control of the situation. Riptides happen where the water appears the most inviting...