posted
Hi all.. Has anyone set up a business in Hurghada (or knows of someone who has). My husband and I are contemplating starting a business and are at the preliminary stages at the moment, trying to get a little background information and would appreciate any input you may have on the subject. For example.. If you have a souvenir shop, cafeteria, net cafe etc., 1. Do you have alot of competition. Is there plenty of year round, "passing trade" 3. Did you rent or buy (what do you think is best) 4. Do you make a reasonable profit? Thank you for any info you may have.
Posts: 164 | Registered: May 2007
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posted
Thanks Korv... I did say "For Example" and not that we were opening any of the above, didnt want to list every single business. Useful to know though what works and what doesnt.. As I said, just gathering information at the moment. Thank you.
Posts: 164 | Registered: May 2007
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posted
Believe me, living in Hurghada there are plenty of coffee shops/net cafes/tourist shops as Korvin says. Hurghada has year round tourists although obviously some months are quieter than others. The cost very much depends on which area you want to set up your business. The Touristic area is very very expensive with new shops opening every day. Sheraton Road is also expensive. Have a look at www.era-egypt.com they have a part for business properties for lease/sale.
posted
Well at last someone is actually investigating the 'lets set up a business together' remark.
I suggest you go on the net and get an example business plan and start working through the headings. If you have never run a business before there are lots of headings you might not be aware of but it is a good start.
What you need is a USP, Unique Selling Point. As has been said there are lots of your type of business so it would have to be something special to succeed. Is there another type of business you could think about. what are your respective talents. It has to appeal to the tourist trade as nobody else has money.
Go to local library and get some books about setting up a business. The legal issues will be different but everything else is the same.
PS I run a business in Egypt and when we started my USP was that I was already running a business in the UK, English, an Egyptologist and computer literate. There were loads of flats to rent in Luxor but I could beat them because I knew business as I had run my own in the UK, I was used to sales and marketing, I was English so guests would be more comfortable about booking, I designed and had some computer professionals make a website and database for me. This is important as a poorly designed website makes you look stupid. I also knew enough about the history and the sights to design and suggest tours etc. I then set about bring my business to the attention of the market place. I know a lot more about that know than I did then but I did reasonably well. So four years later I am in the Rough Guide and Lonely Planet and the business is healthy. Hamduallah
But now that is not a USP as lots of people have copied me and you will find loads of websites offering all sorts in Luxor with Westerns wives taking a pivotal role. Which is why I don't mind saying what my USP is. Although there might be other aspects that are not obvious that I am keeping quiet about.
So find a USP, read loads of business books, formulate a business plan that would convince an investor. And if you can't do that, then why you should you invest in it
Posts: 2791 | From: www.flatsinluxor.co.uk, Luxor, Egypt | Registered: Jan 2003
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posted
FAO Akshar - Thank you for sharing the benefit of your business experience. I agree there needs to be a USP. My husband & I have had previous business experience however, Hurghada & the Touristic Market would not be suitable for either of our previous businesses.
Therefore, we were searching for something special a "Niche Market" but it can't be so obscure that it would fail to attract. The competition in holiday resorts is fierce I know, and one wants to make a profit rather than just struggling to pay bills. We've had a few ideas but I totally agree with you, Research & Preparation are so important.
Congratulations to you for succeeding and long may your success continue. Many Thanks!
Posts: 164 | Registered: May 2007
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posted
I know two things Hurghada desperately needs and this is a decent supermarket and somewhere to eat.
If you could open a restaurant that serves GOOD food with GOOD service, you would be on a gold mine.
Posts: 77 | From: Cairo Egypt | Registered: Feb 2007
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