Whenever most people hear about the region called Bermuda, the first thing that they are given to think about is the triangle where a lot of things get missing. There is actually much more to the place than the triangle and Bermuda is actually one of the greatest places to be on earth. Due to the mall size of people living in the region, it has one of their highest per capita incomes that is ever documented which stands at a staggering USD 91,447. Since the region has no known natural resources, it mainly depends on importations to take care of its needs and you know this is prime land for investing. Let’s delve into the list and the next thing you’ll be losing in the Bermuda Triangle is your low financial state.
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1. Real Estate
Even though the population of Bermuda is not so much on the high side, a number of people that come into the region day after day have increased the pressure on the current housing facilities, so much that the cost of living has increased and taken the cost of housing with it. According to a research result from the year 2015, an average housing facility costs 1 million dollars. For such a high price on the housing needs of people, you can look to set up a real estate business that would be able to create a lot of housing units to those that need it, and for lesser costs too.
In no time, your business would be saturated and with enough money to expand. Slowly, but definitely.
2. Consultancy for Financial Services
The country has gained a good reputation with financial institutions and it is a very green land for investment organizations too, mainly due to the kind of leniency provided by the laws of the land. In light of this, it would not be bad to set up a company that looks to advise investors that wish to set up their own business in the country too. This means that you are the middleman in networking people, facilitating business meetings and as well, giving counsel while helping them to act within the givings of the law.
3. Tourism Agency
The first time you heard of Bermuda, you probably had heard of the triangle then too. This shows you that the tourist attraction there has gained a worldwide fan base and to surprise you, the ocean body is not the only place worthy of being explored. This makes Bermuda a place for tourists to visit yearly and the influx never ends. Setting up a good tourism agency is not only as good as having the mind to show visitors around, but making sure you stand out with interesting programs for your tourists. Include fun events, packages, and sights in the program and see as tourists want to book your services all year round.
4. Provision of Potable Water
As close as this region is to the body of water, they are one of the many places on the surface of this earth that suffer from a shortage of good drinking water. This is so bad that the only form of clean water they have is rainwater, and the government also mandates that the residents collect this form of water whenever it rains.
Seize this chance to create your own water purification company and busiest in the region and start giving the people something they would love you for – some good water to drink. You could start by looking for water treatment plans such as sewage or wastewater and with a good business plan, it would not even take your stress to attract investors to the business.
According to statistical data, the Bermuda region enjoys an influx of more than 500,000 visitors yearly and of these, there is no particular dominant country. This means that there is always a mix of nationalities in the area all year round, and they would be so far away from home that it would be rare not to miss some things. Setting up a nice restaurant to cater to the food needs of these people is not such a bad idea.
In addition to treating them to the local delicacies (because they would surely want to try out the new food), you could organize specials once in a while and whip up something from another country. This could give you something of a cult following in no time and catapult your business to the next level.
Excuses are not going to open that business for you, and a million reasons why you are not yet in business would not put food on your table. Why don’t you take that first bold step today, and write a business plan?