Buying/renting your own Hostel..

hello. my names Eric. i just joined this forum.. i just got back to the u.s. from spending a couple weeks in Honduras and parts of Guatemala. ive been very much inspired by the experience, especially the time i spent in San Pedro Sula and Copan and plan to return to those areas permanently.

the idea is to open up my own hostel/ restaurant and bar. im not terribly interested in whether or not anyone would consider the idea ill advised.. but i am interested in any information that could be useful in getting it going.

for starters, a ball park figure for buying or renting SMALL commercial property.. (:

Hi Eric!

Welcome to Expat.com!
Good luck in your project ;)

Armand

First you need a correct location. Most foreigners here in Honduras go to Copan, Pico Bonito, Beach, waterfalls etc. Once you find your spot and make a deal on renting or buying the location you need to start a Honduran corporation. With the Corp you will receive a bank account. Get your occupational license and RTN # then get started. Like any business you will have ups and downs-especially in a foreign country.  what your doing is a great thing...good luck

Great idea, not many hostels in Honduras! We are also starting a company about tourism just to let you know.

I would say the advantage is you can get a tax break from the government as you will be investing in promoting Honduras and tourism.

Some other spots might be Utila, Roatan, or Tela (under construction The Micos Beach Resort), I think you have a great business idea, to bring a little of the nightlife together with a hostel.

I would suggest you hire a lawyer to do all the legal paperwork for you then get in touch with some real state companies in you desire location spot and get this going.