I agree with not wanting to open a business in the west as unless you own the building most of your profit will be going to the landlord, it's become a power play with property in many places where the real money is made by the landlord. The main problem I see with the west is cheap credit and money flooding into these bars and restaurants, there are a lot of clueless people buy these businesses and lose money but it can often mean they will be bumping up the cost for everyone else, effectively out pricing a lot of business startups.
I don't think the actual process of running a bar or restaurant is that difficult but providing a good service and building your customer base is the key and it is the only thing that matters in the long run. I would look at investing the whole amount into a small niche area and then expand from there, whether this is a bar, hostel or something similar.
I don't think the actual process of running a bar or restaurant is that difficult but providing a good service and building your customer base is the key and it is the only thing that matters in the long run. I would look at investing the whole amount into a small niche area and then expand from there, whether this is a bar, hostel or something similar.