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We are looking at purchasing an active business and after reading description of one, needed some education on some terminology. Can anyone explain the following?
“Rights of occupation were purchased 7 years ago and the Concession is still in process since the Regulator plan was aproved in 2004. It is almost certain that in one year the Puntarenas Municipality will finish the concession process and the property will receive the final concession. In the Regulator Plan the property is Tourist Hostelry zone for the front 3,750 square meters and the other 3,750 square meters is Nature Reserve Zone. So construction can occur in the first 3,750 ones to expand.”Regards
I would STRONGLY encourage you to hire a qualified and very experienced Costa Rican attorney to help you with this, this is NOT a simple matter that will be resolved in a Discussion Forum.
Scott Oliver – Founder
WeLoveCostaRica.comSounds like you’re considering buying a concession (i.e. right to operate a business) which does not yet exist. The seller bought it 7 years ago, and is still waiting for the final permission. Completely disgusted and frustrated, the best sales pitch he can come up with is “It is almost certain that in one year the Puntarenas Municipality will finish the concession process and the property will receive the final concession.”
I advise you to seek out investment opportunities that are less speculative. Betting on prompt government action in Costa Rica is a good way to get rid of all that excess money taking up space.
No disrespect intended, but the fact that you don’t even understand the sales pitch is a strong indicator that you’re in way over your head.
If you’re interested in acquiring and operating a B&B, maybe Jenny can help you.
Thanks so much, that’s what we were looking for. I had met with an attorney in Jaco the last Nov. Victor M Lobo, has anyone ever heard good or bad about this gentleman?
Who is Jenny or how to chat with her?
Thanks so much
Jenny owns a B&B and can NOT give you or anyone else legal advice.
You need EXPERT legal advice ‘Nasser’ – PLEASE don’t try and cut corners with this because you could end up with a VERY expensive “learning experience.”
As GringoTico pointed out “the fact that you don’t even understand the sales pitch is a strong indicator that you’re in way over your head.”
We do not meant to be rude with our comments but we’ve all seen too many people make mistakes that they would not have made if they had just spent a few extra bucks getting EXPERT legal advice.
Scott Oliver – Founder
WeLoveCostarica.comI was just asking for her, in response to “If you’re interested in acquiring and operating a B&B, maybe Jenny can help you.” I thought she had something for sale, maybe I miss understood.
I am not asking anymore legal advice. I was also just asking if anyone had delt with the attorney I mentioned.
Sorry.
Nasser
I am Jenny, thanks for thinking of me. As Scott said, I can not give you legal advice but I can share some of the things we have experienced. So if you would like to ask me some questions about our experiences and the things we have discovered about owning a B&B in Costa Rica, just write me. Owning a business in Costa Rica has no similarity to owning and running a business in the USA. Today, I had customers that packed a lot of air fresheners for me.
They get them at the dollar store and they only cost $1.00 the cost almost $4.00 here. Rooms that are closed need air fresheners, no matter how clean you keep them. Preparing breakfast if you do it like we do, it can be expensive also, a 1lb 1/2 bacon cost about $8.00. You don’t have much of a choice, eggs are sold by the kilo, making them more expensive. Good quality cheese is very expensive, you don’t have product choices. Rice and Pinto beans are very cheap.
Nasser, I can sure share our experiences with you. We have been in business over 4 years. Our business is doing great now, and we have had two successful years. This year we will end in the red by a margin and next year we will start seeing a profit. If you can not hold on for five years, funding it yourself, then please don’t even consider it.
Of course you may not be as selective as we are, we do not accept any walk up business. All guest have to make prior reservations. We also have a no smoking policy, we don’t advertise on the street. You will not be able to come to Grecia and see our business sign. That is our choice, more then likely if we were more open we would have had more guest. Our guest are repeat customers, and we have built our marketing around repeat business.
Such a treat you wanting to contact me. Thanks for the honor Nasser
Jenny, hi, I appreciate your response and yes I would like to chat a little about doing biz in CR. My first question was not meant as requesting legal advice, I just wanted a simple explanation, which GringoTico gave, my regards. I had also asked if anyone new or delt with the attorney Victor M Lobo, in Jaco, just a question for good or bad, if any. Attorney referrals would be nice too.
From my past travels, I have come to realize you give up a lot or gain a lot when you move to CR, depends on the individual and how you accept it. I currently run an ISP in the states and have been in customer service arena for the past 6 years, but have liked the ideas of doing a B&B/Hotel. I have traveled from Tamarindo to Manuel Antonio, now it’s just a matter of where I want to be.
Where are you located?
When you need something electrical or construction, how are your past dealings been with that?
Did you build or buy and existing?
Do you provide internet at or through out your hotel?
Regards
We are located in San Roque de Grecia just about 35 km north east of the airport.
Yes, we purchased and existing building and we have made a lot of changes
Yes, we provide internet, highspeed, and wireless. Internet in each room. We just added that feature, after seeing the clientel that we have. Most of them do a lot of business on line.
When we first came here getting anything done was very difficult, because we did not speak Spanish. We had a tica working for us that helped us a lot. I totally recommend having someone to work for you.
You can write me privately and I will answer more question. There are so many things that I could tell you about our business experiences here in Costa Rica.
Take a look at us one http://www.laterrazab-b.com and by the way if you are in Costa Rica stop in, we dont bite (smile)/
I would say more but unlike Gringo Tico and Scott, I can not say it in 20 words or less. They are excellent writers.
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