Many travelers who return from a tropical holiday on the beautiful Indonesian island of Bali start thinking how wonderful it would be to quit their job and move here permanently. And lots of them do, including me. I’ve run a guesthouse and restaurant on the northern coast of the island for four years. But before you join us expat business owners, there are a few things you should know…
A mid all the traditional German sausage stands in a small food market on the edge of the Black Forest, American Geoff de Forest, 43, decided to open a taco truck. He believed there was a need for really good Mexican food in his locale…and he was right. The business is now making good money. Last year he started the Holy Taco Shack, a food truck that sells tacos, quesadillas, and burritos at markets and special events in the Freiburg area, which is in the extreme southwest of the country near the border with France and Switzerland.
It’s easy to look at the 19th-century writer, artist, and social activist William Morris and wonder how he got so much done. During his lifetime, he produced a dazzling body of work not only in writing but also in architecture and textile design. His intricate textiles and wallpapers are still sold today.
Panama is one of the fastest-growing countries in Latin America. And with a steady influx of expats of all ages and a growing middle class, its beleaguered education system has been hard-pressed to meet the growing demand for quality instruction. Public schools don’t prepare students very well for college. So middle and upper class residents turn to the nation’s private schools.
While some relish the challenge of building their dream business from the ground up, many expats prefer the reduced risk and hassle that comes with buying an existing business. You probably won’t save money over starting a business from scratch, as the sellers of a successful business will want to recoup their own investment.
Ten years ago American health professional Jonathan Ahladas left Springfield, Massachusetts to make a new home in the Spanish capital, Madrid. He’s still glad he did. “In the States your routine is going to work, taking the car, driving home, and then you’re home for the rest of the day,” says Jonathan.
With an investment of just under $50,000, Michelle and Austin Drill are now on their way to making a living…selling bagged dirt in Nicaragua. The former New Yorkers found a place where they could breathe, the easy-going beach town of San Juan del Sur on Nicaragua’s Pacific coast, and a business opportunity whose time had come.
“I love the stimulation. Every time I take someone on a tour I learn something new about places I’ve seen hundreds of times before.” So says Helene Kahn who has loved Mexico since she was 10 years old. Now she lives in the artistic hub of San Miguel de Allende and gets paid for something she loves doing: showing people around her adopted country.
I first met Tom Linzmeier when we were teaching self-employment seminars in Washington, D.C. Tom had a career as a stockbroker before becoming a full-time investor. Then he reinvented himself again as a teacher. For several years, we continued to bump into each other at adult education centers around the country but after a while we lost touch.
With its warm weather, low-cost living, and welcoming locals, Thailand is easily one of Southeast Asia’s most popular spots for entrepreneurs looking to launch a new business. Startup costs are affordable, there are fewer regulatory hurdles, and paying for necessities such as construction and manual labor won’t break the bank.