February Reader Submission: Is Now The Time To Be Investing in Angeles City?
If not, why?
Hello Harry, I’ve been coming to Angeles since 1997. My friends and I had discussed putting some capital together to do something like a hotel or restaurant in or around the AC area. We are all on the verge of divorce and mid-life crises and life would be much simpler and cheaper if we relocated to the Philippines.
Our ideal situation would be to lease a hotel with restaurant to get the hang of the operations before we tried to do something on our own. What is it that makes AC businesses thrive, and why are new hotels and restaurants opening up all around town if everyone says the town is dead? Are there any projects that a person could get into that are turnkey? What businesses are still needed? Thanks for any input.
Businesses that are currently in the position to earn must have something to offer that attracts customers – whether it is location, service, quality, or rates. If you are planning to operate anything here be sure you do your due diligence tenfold. (This is before you transfer funds anywhere.)
First, go linger around some venues and watch the operations closely. See what customers want, and how the staff handles their requests. Get to know where people are coming from, staying, going, and what they are doing with their time.
Second, understand that doing business in Angeles City for anything requires monk-like patience. Turnkey businesses tend to be bars, but the occasional restaurant will go belly-up as well. Most of the businesses needed in this town are niche and finding out what they are can be challenging. The chances of running a successful business as a one-off here are probably not high unless it offers a combination of something people want that no one else can match.
Read Margarita Stations website and look for the article titled “So you want to buy a bar?” at http://www.margaritastation.com/buy_bar.php - Take heed to the stories before you do anything else.