Want To Own A Hispanic Retail Business In Costa Rica?

Surfing at places such as Witch’s Rock is in part what’s driving the uptick in Pacific-coast tourism.

Many locals have items shipped in from outside the country to avoid the high prices associated with these stores, especially when it comes to home furnishings. And the quality of these products is often lacking, especially when compared to what gringos can find at home. That’s why a lot of bartering takes place between locals, who’ll trade a couch for, say, a set of barstools.

 

 

 

 

Costa Rican enterpreneurship

However, if such stores were to open just outside of, in this example, Tamarindo, they might indeed thrive, especially if the prices are right and employees are at least semi-fluent in English (although many locals do speak Spanish). During several visits to Tamarindo, in search of that elusive wall hanger, I wished that a simple, well-stocked and fairly priced hardware store were only up the road. The nearest one is in a tin-roofed barn that offers only the barest necessities (i.e., screwdrivers, hammers and small bags of peanuts at the cash register) and few employees that speak even rudimentary English. (Not wanting to sound like an ugly American, this last point is my failing. My Spanish is limited to asking for una cerveza, el bano y la cuenta.)

 

 

 

 

Land of Opportunity

Potential Hispanic entrepreneurs should keep in mind, however, that traffic drops off beginning in May and running into October, during the rainy season. This is when most of the tourists and long-term renters have headed either back home or to other more weather-friendly locations. Locals, however, many of whom are running their own businesses, largely stick around, although they typically don’t frequent the restaurants and shops the tourists do and tend to insulate themselves.

That said, many business opportunities are available for Latino businesspeople in Costa Rican tourists hot spots such as Tamarindo. As long as they’re aware of the demographics, the appetites of their patrons and the best locations to open businesses, they’re more likely to be successful. They also have a leg up over gringo-run operations, which are sometimes fly by night. Indeed, they can plant roots in the community and quickly learn the legal ins and outs of opening and maintaining businesses in Costa Rica, whether restaurants, retail shops or tourist-oriented services.

Although I miss the sleepy little Tamarindo from my first few visits, it’s clear that nothing is going to stop the juggernaut of new development in the area—and I have to suck it up and get used to it. After all, I’m a mere passerby when it comes to Costa Rica. For businesspeople, however, it doesn’t have to be that way. They can call it home—and make a living while doing it. And as they say in Costa Rica—both as a greeting and a “you’re welcome”—“Pura Vida!”

Jim Utsler’s other series installments:

Part 1 of this series:
Costa Rica: An Investment Opportunity for Hispanic Business

Part 2 of this series:
Demographics and Tastes Can Be Key to Success

 

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