When I have finally seen what I consider the must see places in the world and have met my future wife I will be ready to settle down (though not likely in the US). But what will I do?
I will open a combined hostel, language school, and bar that compliment each other in every way. Let’s say I open up the language school in Colombia, for example.
The hostel will obviously attract people especially the ordinary western backpacker on their typical gap year(s). Most young backpackers are interested in meeting people including locals and other travelers, partying, finding temporary work to help fund their travels, and learning a new hobby like salsa dancing or learning Spanish.
The hostel will be great because it will provide the travelers with everything they are looking for in one location.
The language school will employ those travelers looking to earn a little extra money for a few weeks or months by teaching English. With a ready supply of poor backpackers desperate for short term work it will be an ease to hire and offer free room and board rather than a salary. Likewise, I will hire local students to teach Spanish to the foreigners. While I have no direct experience in the language business it won’t cost much to hire a manager with lots of experience and certifications to oversee this part of the operation. I am so sure of this part because I have met so many of those desperate, certified teachers on my travels already.
So with the hostel attracting loads of foreigners and the language school attracting loads of local university students studying English there needs to be a place to allow the locals to practice their English and the foreigners to meet the locals. If they are studying English they will no doubt have a huge interest in meeting foreigners. Likewise, it’s a great way for backpackers to meet interesting locals. I can’t even remember the amount of times I have heard fellow backpackers say “hey, this hostel is great but i’m going nuts hanging out with foreigners all the time”. That’s why the hostel/language school will also have a decent bar on the premises open all day. That’s also tons of potential earnings from drinks and food.
There you have it. That’s the basic concept which assumes the hostel is great in of itself (clean, all amenities, good staff, marketed well, etc.), the language school is well run, and the bar is fun with great staff and events. If I have had one original business idea in my life this is it!