Business in Colombia

[Pacino]

Can a business work in Colombia?  I know many of us here have thought about doing business in Colombia and if it acually could make money.  My first business in Cali was an agency with a friend, it didn't workout, we went under in less than a year but learned some valuable lessons from that experience.  After that I spend alot of time thinking of what I could do to make money in Colombia.  So after alot of research and hardwork.  I opened up my first Dvd Store in Cali.  My friends and family in the United States thought I was nuts to invest money and time into this but I was confident it could work.  When I started building my first Dvd store more than 3 years ago, there wasn't much competition. Blockbuster was king in Cali and Colombia for that matter.  I was among only a handful of Dvd stores in Cali( 3 years ago ), slowly over time, La Zona build it's reputation.  Of course Blockbuster will always be a giant but we hold our own against them.  I rent and sell more Dvd's than any other store in Cali(other than blockbuster).  I think part of my success is that I hit early before the dvd store boom in Colombia, now there are stores on every corner of most barrios.  Also I run my store like we run businesses in the United States.  Clean, professional, with great customer service.  I thought it was also important to create an atmosphere that made the client feel like they were leaving the crazy city life outside in the street.    

I know many here do have and run successful businesses in Colombia and for those thinking of investing in Colombia, there is hope.  It's not easy but it can be done.  

Pacino

[AnthonyPL]

... in response to Business in Colombia, posted by Pacino on Jun 11, 2005

Most DVD's in Colombia are pirated copies, not originals.  It seems like it would be difficult to compete with the low prices of pirated DVD's if you are selling originals at your store.  Also, Cali does not have the relative affluence of Medellin and Bogota.  It seems like a tough business - and tough location - to make a profit.

[Pacino]

... in response to Re: Business in Colombia, posted by AnthonyPL on Jun 11, 2005

While there is some truth in what you say, my business kicks ass.  I sell tons of original copies to dvd stores all across Colombia, not just in Cali.  You must keep something in mind, while many stores offer pirated copies, alot of store owners want to show original dvds in their displays, that way if the DIAN comes to visit them, they can at least show they have original copies.  Also alot of customers don't want to rent fake dvd's so if you don't have originals to offer, than for sure you will lose some customers..

Pacino

[AnthonyPL]

... in response to Re: Re: Business in Colombia, posted by Pacino on Jun 12, 2005

Interesting.  Congratulations and good luck.

[Traveller]

... in response to Business in Colombia, posted by Pacino on Jun 11, 2005

Hey, did you get my emails? I sent you two over the last couple of weeks.

[Pacino]

... in response to Re: Business in Colombia, posted by Traveller on Jun 11, 2005

just sent you an email.. sorry it's been crazy here for me.. Too much work..lol

[whome]

... in response to Business in Colombia, posted by Pacino on Jun 11, 2005

I have and have had for sometime a couple of very good idea's for businesses to start up in Colombia but never got them going and then in March of this year found out i had cancer and of course all my time has been concentrated on that.

Maybe someday in the future i will try some of my business idea's in Cali.

[Calipro]

... in response to Business in Colombia, posted by Pacino on Jun 11, 2005

If you have any more business ideas, I would like to meet with you in Cali. I'll be there from June !8th -July 25th.

I'm leaving for Miami in a couple of hours. I have an appointment in the Colombian Consulate in Miami to get a business visa.

If you need a partner I would be happy to listen to any ideas you have.

calipro2004@aol.com

[Pacino]

... in response to Re: Business in Colombia, posted by Calipro on Jun 11, 2005

Hey bro.. won't be in Cali during those dates but I'm sure we'll hookup one of these times.  I read so many of your posts here , I feel like I know you even though we've never met..

take care..
Pacino

[Demolitionguy]

... in response to Business in Colombia, posted by Pacino on Jun 11, 2005

I believe having a business (as a gringo) in Col. You just need a type of business like your DVD store that is not in a mature stage. Meaning a new idea.  

Here are some positives about having a business there rather than the U.S.

1. Very few lawsuits. Everytime I turn around it seems like some jackas... lawyer is filing a suit against me. Among other things, I am in the demolition and engineering business. Its pretty bad when a mcDonalds can be liable for serving coffee to hot.

2. Insurance is very cheap in Col compared to the states. I am paying 62% on my worker compensation policy. It's digusting. In 17 years my company has never had an accident and/or injury.

3. Wages are low compared to the product you can sell in Col. Specially in the retail market.

Here are the negatives.

1. Banking is a real pain in the ass.. down there.  

2. Sercurity will always be an issue for a gringo owning a businesss there.

3. Last but not least, Colombians have a complete differnce in business attitude than gringos.

Youe dvd store sounds like a great idea. David

[Pacino]

... in response to Re: Business in Colombia, posted by Demolitionguy on Jun 11, 2005

"You just need a type of business like your DVD store that is not in a mature stage".

Exactly!!

Pacino