Considering a bold bold move

[Optimusdinkus]

Bassically, I'd love to own and operate my own hostel somewhere down south or in europe with my own design and others at the helm. I miss the experiance greatly, but I dont know if I have the funding to run one. I mean hell I dont care if the thing makes a profit or not, would be nice but, I just remember how awsome that experiance was (I actually helped run one for free room and food!). Do you guys think 60k is good enough?

[Drazan]

You're willing to risk 60k in startup money and you don't care if "the thing makes a profit or not"?

I think you should rethink your priorities. If you are interested in a hostel type business you'll need to start with demand and supply. Not all regions will work for such an idea. Then you will still need to follow basic business practices, secure a bank, land, operating expenses, etc. This will probably be well above the 60k you have. Probably more like securing 600k in land, building, furniture, equipment etc. The 60k you have may help float the operating expenses for a few months, as well as startup marketing.

I don't know what city/ country you live in so that will also be a huge factor on what you can do.

Jade

[romancing_layouts]

Go for it! 60k won't do it though, I suggest putting together a business plan with a proposed location and all costs covered. Only then will you know if you have the resources to make this a success.

Pitch the plan to a wealthy relative and get him/her to co-sign a bank loan to make up the rest.

I would not throw money at it and not care if it makes it. Care and it probably will. Find out what people are looking for (atmosphere, amenity, price, locale), if you care about how your clients are then the profit should take care of itself.

Good luck and give us status updates.

[Optimusdinkus]

I was thinking abroad bassically. And I apologize for the nature of my statement. What I ment to say was if I can maintain a steady increase of revenue that would equal out or raise depending, not if the damn thing just goes up in smoke and I blow the cash for nothing (noooooo way). Costa Rica allows us to purchase land especially if we want to bring bussiness to the area at a preaty decent cost (however it would require a hefty bussiness loan unfortunatly). So I digress.