Comments on: $400k and a tropical dream http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/ Editors from FSB magazine answer your pressing small-business questions. Thu, 05 Nov 2009 16:07:19 +0000 http://wordpress.com/ hourly 1 By: Rochester, New York http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1622 Rochester, New York Sun, 22 Mar 2009 21:04:33 +0000 http://askfsb.wordpress.com/?p=854#comment-1622 What about the Florida Keys?? I believe that once Castro croaks travel between Florida and Cuba will increase more than just boats loaded with cocaine. Just a thought.... What about the Florida Keys?? I believe that once Castro croaks travel between Florida and Cuba will increase more than just boats loaded with cocaine. Just a thought….

]]> By: Kevin Stratton Roatan Honduras http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1587 Kevin Stratton Roatan Honduras Sat, 07 Mar 2009 20:53:51 +0000 http://askfsb.wordpress.com/?p=854#comment-1587 Hello Ed Roatan Honduras is a going to be more of a cruise ship destination than ever soon. Carnival Cruise Line is building a new dock that can hold 3 cruise ships at one time. They are now docking at the newly improved dock in the main town on Roatan that has a 30 year lease with the Royal Caribbean cruise ship line. That dock has new buildings and is also expanding to hold 3 cruise ships at the same time. We talk to the tourists and they all complain how that they are paying way too much for drinks and are ready to find a bar with some reality priced drinks for a relaxing day on the beach. That is only part of the story as we have a steady regular and growing group of regular tourists that come to the island for diving and as a place to live as we have one the best reef system to be found. There is also a need for more night life here, so there are many options that will work here. This island has grown and needs more services and Roatan will continue to grow. All the best Kevin Stratton Owner/Broker of Roatan Island Real Estate And Roatan Island Dream Homes for construction Office #011-504-445-5034 Cell #011-504-9922-5638 VOIP #1-305-600-0193 Websites www.roatanislandrealestate.com www.roatandreams.com www.roatanbeachfrontproperty.com Construction and Home inspections www.roatanislandreamhomes.com Email ridh@globalnet.hn Hello Ed

Roatan Honduras is a going to be more of a cruise ship destination than ever soon.
Carnival Cruise Line is building a new dock that can hold 3 cruise ships at one time.
They are now docking at the newly improved dock in the main town on Roatan that has a
30 year lease with the Royal Caribbean cruise ship line. That dock has new buildings and is also expanding to hold
3 cruise ships at the same time. We talk to the tourists and they all complain how that they are
paying way too much for drinks and are ready to find a bar with some reality priced drinks
for a relaxing day on the beach. That is only part of the story as we have a steady regular and growing
group of regular tourists that come to the island for diving and as a place to live as we have one the best reef system
to be found. There is also a need for more night life here, so there are many options that will work here.
This island has grown and needs more services and Roatan will continue to grow.

All the best
Kevin Stratton
Owner/Broker of Roatan Island Real Estate
And Roatan Island Dream Homes for construction
Office #011-504-445-5034
Cell #011-504-9922-5638
VOIP #1-305-600-0193
Websites http://www.roatanislandrealestate.com
http://www.roatandreams.com http://www.roatanbeachfrontproperty.com
Construction and Home inspections http://www.roatanislandreamhomes.com
Email ridh@globalnet.hn

]]> By: Vivek, White Plains, NY http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1562 Vivek, White Plains, NY Fri, 27 Feb 2009 03:53:14 +0000 http://askfsb.wordpress.com/?p=854#comment-1562 Hi Edd, There has been a significant drop in travel and the Caribbean islands that depend almost exclusively on tourist are suffering like everybody else. There is also plenty of competition in this space. I would recommend that you keep your cash handy and look to see if you can pick up a fast food franchise on the cheap - perhaps from another owner that is in financial trouble. Your vast experience should help. An SBA loan is what I would recommend and after the new TALF pregame announcements from the government, SBA loans should become more readily available from local and regional banks. To get an exhaustive listing of banks visit our website and help your self to the tons of free tools and articles that we have for you. CNN Money too has a great many resources on financing that you will find handy. Regards, Vivek L http://www.smallbusinessplanresources.com Hi Edd,

There has been a significant drop in travel and the Caribbean islands that depend almost exclusively on tourist are suffering like everybody else. There is also plenty of competition in this space.

I would recommend that you keep your cash handy and look to see if you can pick up a fast food franchise on the cheap – perhaps from another owner that is in financial trouble.

Your vast experience should help. An SBA loan is what I would recommend and after the new TALF pregame announcements from the government, SBA loans should become more readily available from local and regional banks.

To get an exhaustive listing of banks visit our website and help your self to the tons of free tools and articles that we have for you. CNN Money too has a great many resources on financing that you will find handy.

Regards,

Vivek L
http://www.smallbusinessplanresources.com

]]> By: Venice California http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1561 Venice California Fri, 27 Feb 2009 02:31:25 +0000 http://askfsb.wordpress.com/?p=854#comment-1561 Send me your list Send me your list

]]> By: Dr. Wong, Tortola, BVI http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1179 Dr. Wong, Tortola, BVI Tue, 09 Dec 2008 10:52:23 +0000 http://askfsb.wordpress.com/?p=854#comment-1179 I think you would be nutz in this economic downfall to open anything like that in the Caribbean. I think you would be nutz in this economic downfall to open anything like that in the Caribbean.

]]> By: zach http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1177 zach Mon, 08 Dec 2008 02:28:39 +0000 http://askfsb.wordpress.com/?p=854#comment-1177 Hawaii is the best place all you have to do is grease up the syndicate (local mafia) and all will be well Hawaii is the best place

all you have to do is grease up the syndicate (local mafia) and all will be well

]]> By: Geography Wizz http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1172 Geography Wizz Sat, 06 Dec 2008 18:53:01 +0000 http://askfsb.wordpress.com/?p=854#comment-1172 Puerto Rico is part of the United States of America! Puerto Rico is part of the United States of America!

]]> By: Henry Brown http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1168 Henry Brown Fri, 05 Dec 2008 22:51:00 +0000 http://askfsb.wordpress.com/?p=854#comment-1168 I was a Peace Corps volunteer in Jamaica (76-78) and have traveled to many islands. I would suggest you live in an area and get a job there to determine your risk. Analyze how business responds to tourist trends. The present world economic downturn could make it difficult for starting new businesses. Many island governments can be bureaucratic and slow to respond. Living for a while could make you think twice about investing money. You could also join the US Peace Corps. http://www.peacecorps.gov/index.cfm?shell=learn.wherepc.caribbean.easterncaribbean Here is a blog on PCV's today: http://gregorymeves.blogspot.com/ I was a Peace Corps volunteer in Jamaica (76-78) and have traveled to many islands. I would suggest you live in an area and get a job there to determine your risk. Analyze how business responds to tourist trends.
The present world economic downturn could make it difficult for starting new businesses. Many island governments can be bureaucratic and slow to respond. Living for a while could make you think twice about investing money. You could also join the US Peace Corps.
http://www.peacecorps.gov/index.cfm?shell=learn.wherepc.caribbean.easterncaribbean
Here is a blog on PCV's today:
http://gregorymeves.blogspot.com/

]]> By: Lee, Seattle, WA http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1160 Lee, Seattle, WA Fri, 05 Dec 2008 02:58:37 +0000 http://askfsb.wordpress.com/?p=854#comment-1160 I served as a US Peace Corps volunteer for 2 1/2 years in Saint Lucia focusing on economic development. Speaking from experience for the EC I think it is more of the fantasy to live in the Caribbean than practical reasons that motivates peoples desire to set up business, particularly a bar or cafe. Even as someone who has lived on the island all your life who understands the culture it is very difficult to open up and run a successful business. Yes, the islands are laid back and a wonderful place to lime, to go on vacation, but carving out a living is a different story. The process of getting your paperwork together, importing your equipment and paying the importing duties is difficult, time consuming and costly. I would recommend a different approach, consider volunteering through many of the different agencies/charities/non-profits available in a prospective country you would like to potentially open a business in. In the process of serving as a volunteer you will get to know the people and develop business contacts while doing great volunteer work. This will help you make a better more educated decision. Best of luck to you! I served as a US Peace Corps volunteer for 2 1/2 years in Saint Lucia focusing on economic development. Speaking from experience for the EC I think it is more of the fantasy to live in the Caribbean than practical reasons that motivates peoples desire to set up business, particularly a bar or cafe. Even as someone who has lived on the island all your life who understands the culture it is very difficult to open up and run a successful business. Yes, the islands are laid back and a wonderful place to lime, to go on vacation, but carving out a living is a different story. The process of getting your paperwork together, importing your equipment and paying the importing duties is difficult, time consuming and costly. I would recommend a different approach, consider volunteering through many of the different agencies/charities/non-profits available in a prospective country you would like to potentially open a business in. In the process of serving as a volunteer you will get to know the people and develop business contacts while doing great volunteer work. This will help you make a better more educated decision. Best of luck to you!

]]> By: J Hill, New York, NY http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1158 J Hill, New York, NY Thu, 04 Dec 2008 22:03:00 +0000 http://askfsb.wordpress.com/?p=854#comment-1158 I think that Dutch St. Maarten would be a good bet. Great infrastructure and a thriving tourist industry even in this tough climate. In addition, English seems to be the most widely spoken language on this side of the island. If you can find a way to attract the hundreds of American cruise ship visitors coming ashore each day who want to do something else besides shopping in Phillipsburg and if you have an attractive location, you should be able to generate good business. I think that Dutch St. Maarten would be a good bet. Great infrastructure and a thriving tourist industry even in this tough climate. In addition, English seems to be the most widely spoken language on this side of the island. If you can find a way to attract the hundreds of American cruise ship visitors coming ashore each day who want to do something else besides shopping in Phillipsburg and if you have an attractive location, you should be able to generate good business.

]]> By: Alex (From Chicago) http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1155 Alex (From Chicago) Thu, 04 Dec 2008 05:59:26 +0000 http://askfsb.wordpress.com/?p=854#comment-1155 DO NOT OPEN A RESTAURANT NOW......YOU HAVE TO WAIT UNTIL WE ARE GETTING OUT OF RECESION.... I have a small restaurant and I sold more than 100k in July. Now I am selling about 30k montly and decreasing..... DO NOT OPEN A RESTAURANT NOW……YOU HAVE TO WAIT UNTIL WE ARE GETTING OUT OF RECESION…. I have a small restaurant and I sold more than 100k in July. Now I am selling about 30k montly and decreasing…..

]]> By: H. Cittone New York, NY http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1153 H. Cittone New York, NY Wed, 03 Dec 2008 22:41:05 +0000 http://askfsb.wordpress.com/?p=854#comment-1153 Don't overlook the inherent racial tension in the islands...many locals resent "wealthy" whites (and even african americans) coming down there and opening bars and pubs (even in the USVI). If you cater primarily to tourists you're better off. I lived 10+ years down there in the hotel industry and it wasn't always easy. You won't get the big smiling welcome the cash loaded tourists get if you're coming down there to live. I'd give you a list of islands to avoid, but they probably won't print it. Don't overlook the inherent racial tension in the islands…many locals resent "wealthy" whites (and even african americans) coming down there and opening bars and pubs (even in the USVI). If you cater primarily to tourists you're better off. I lived 10+ years down there in the hotel industry and it wasn't always easy. You won't get the big smiling welcome the cash loaded tourists get if you're coming down there to live. I'd give you a list of islands to avoid, but they probably won't print it.

]]> By: J Marshall http://smallbusiness.blogs.cnnmoney.cnn.com/2008/12/03/400k-and-a-tropical-dream/#comment-1152 J Marshall Wed, 03 Dec 2008 15:41:17 +0000 http://askfsb.wordpress.com/?p=854#comment-1152 Don't overlook the British and American Virgin Islands. No language problems and you are already a citizen of the American VI. Don't overlook the British and American Virgin Islands. No language problems and you are already a citizen of the American VI.

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