Little Business Advice - The Hull Truth

novashun · 11-14-2008, 12:30 AM

MOD , if this in the wrong place - Apologies. Please move.

Im new to the forum, long time lurker though. Im going to ask for some advice and I hope someone here could help me out. Im going to tell a story, its one you all have heard before- Sorry, Im going to probably repeat the same dreams all of us Fisherman have.

Me and Buddy are looking at opening a Fishing Lodge. Initial Investment of about 250K.

Has Any of you all been down this route, know someone, etc ?

Little about us, We are both Americans that have busted our a*ses for the last 2 years in exotic locations like Kuwait, Iraq, Afghanistan... etc. You get the picture what we do- DOD Contractors/ExMilitary.

We are just trying to live the dream

Preferred Location is going to be 50 KM from the coast, Oaxaca Area. We have done our research on land laws, and Business Entity.

Very interested in any advice, previous thread linking, stories, whatever.

Fish ON!

Cheers-

Nova

bamaboy473 · 11-14-2008, 06:24 AM

Congrats on making it back safely; you must have a million stories to tell!

Since the economy is tanking, the number of guys spending $$ on lodge trips is dwindling and a good bit of lodge business is repeat customers and referrals. Knowing all this and still wanting to jump in is admirable, but what makes you so sure of success at this time?

How many other lodge owners have you interviewed "lately"? Are they doing the same business as two years ago? If not, how much less? Have they also told you that the first five years of a B&B (or maybe lodges, too) have very high mortality rates even in good economies?

cudacat · 11-14-2008, 07:33 AM

I would be hesitant in this economy. I work at a large federal impoundment, providing recreational activities to the general public(camping, boating, swimming, fishing, hunting, etc). Our visitation was down 25% this past year. The 4 private commercial marina operators on the lake also reported a substantial decrease in revenue. I think in this economy, folks are staying closer to home and waiting this thing out. I know I am.

jagerhunchback · 11-14-2008, 10:35 AM

pm sent

novashun · 11-16-2008, 10:16 AM

I totally agree with cuda and bama about the economy. We are looking at 2 years + before this happens. What we have found is the the prices of Boats have significantly decreased. People are dropping them for next to nothing. Bama, any business could fail in the first year or within 5.

Definetly not looking for a " Pep " talk .. LOL. I know the economy is really sucking and leisurely activities are at an all time low. But I also believe people from Canada fish, UK, and also South/Central America. Do you guys agree cost of boats have gone down some what?

grgrmouse · 11-17-2008, 02:45 PM

Do it brother. Get a good Mex attny and get ready for some very good real estate and boat deals. These are the times that make the big players even bigger! The boats are dropping fast as well as American "frills" such as foreign owned recreational property. I've seen everything from tackle to 50' rigs dropping fast.
Go bare bones and spend the money on the legal stuff first. Get the word out through various forums, Bloddydecks THT and the likes. Build on a clientel that will fish no matter what........Starp cheap, be straight up with the customers. I think you'd do great in a couple years. Just my .02 cents

And keep a stockpile of SS109

Cousin Eddie · 11-17-2008, 06:38 PM

Take a look at all of the "which charter for Cabo" threads. It's amazing that out of all the charters down there, the same handfull of names come up in every thread.

Good service is a thing of the past wih most companies (not just charters). Reputation is everything and if you go over the top to make every charter something to remember, word will eventually get out. It may take a while, but......

Part of what has turned me off to charter fishing is that there always seems to be a great front guy talking up how great their charter is and how personable the captains are, only to end up with some cranky ass captain who running the charter. Granted, the fishings a big part of it but the overall experience is what it's about.

Like grgmouse said, you can wait untill things improve but by then you're buying high on land and equipment. It might be worth it to buy low and wait things out while you build your rep.

jtburf · 11-21-2008, 06:05 AM

I remember reading here about a turn key lodge/charter in Costa Ricca that is/was for sale recently...

Look in the Misc section of the forsale side and it could be several pages back...

Good luck with your venture...

John

hevenroman · 01-27-2009, 02:29 AM

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auguste · 01-27-2009, 03:15 PM

Cash flow and credit . . . just as important as revenue

Can you work with jerks who are expecting a trophy fish for "their hard earned dollars"

Can you put up with the abusive drunks

On the POSITIVE side, owning a small business is very gratifying

Woooooops . . . avoid burnout . . . you need to breath calmly now and then

Good luck !