Buying a business in Ambegris Caye

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Member since 28 November 2011

arturroMember07 December 2011 19:44:18

Hi all. I am interested in finding a small business to buy in Ambegris. I have been in the restaurant business for a long time and owned my own here in the US for 14 years. I am wondering what sort of input or thoughts anyone may have in regards to this. There are several for sale and I have already begun initial discussions with several owners down there now. My goal is to relocate from living in a mountain ski resort to a place with year round warm weather.

rdono32679 New member

Member since 15 January 2011

rdono32679New member07 December 2011 20:16:59

Arturro, i have been researching to do the same. email me @ robhartman63@yahoo.com we can compare notes. thanks Bob

Wealthships Serial expat

Member since 30 October 2010

WealthshipsSerial expat07 December 2011 20:46:33

282

Arturo, please be aware that buying a business in Belize is very unlike buying one in the States. It is rare that any business owner will have adequate financials to show you. The best you may be able to hope for is bank statements, and even if you can get them, you\'ll probably have to do the spreadsheet and try to ascertain if the company is profitable or not. Since a lot of businesses are pay in cash, this is not an adequate measure of profitability.

Also, businesses are not priced on a multiple of the net income. Mostly they are numbers derived from what the owner thinks his or her biz is worth, which is usually grossly inflated.

In addition, be aware that the island, in particular, is very seasonal. You will definitely need adequate reserves for those months. And in the restaurant biz, your competition will be fierce, making it even tougher to succeed.

Oh, and don\'t buy anything sight unseen - ever!!! And plan on being there whenever it\'s open, because good and honest employees are hard to find, unfortunately. Good luck. Sharon Hiebing

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