Many Russian citizens rely on business in Bulgaria. Conducting such activities has many positive and negative aspects. Therefore, before starting a business in Bulgaria, you should familiarize yourself with the advantages and disadvantages of doing business in this country in order to prioritize and make a final decision.
You can carry out the mission of familiarizing yourself with the nuances by studying information or through friends who have encountered business activities in Bulgaria.
Is business in Bulgaria relevant for Russian citizens
Of course, before deciding on the start of private entrepreneurship in the country, attracting sea distance, you need to understand the relevance of this issue:
- First of all, business in Bulgaria is relevant for Russians in connection with the proximity in spirit and faith of nations.
- Also, business in the sunny resort country is attractive due to the fact that this corner of the globe has a European level. Therefore, business in Bulgaria is relevant due to the level of development of the country.
- Russians often choose to do business in Bulgaria because they seek a good independent life, which is difficult to achieve within their own homeland.
In general, the reasons why Russians are betting on business in Bulgaria are more than enough. Therefore, we must pay tribute to the study of information regarding the conduct of activities in this country.
What you need to consider before starting a business
Naturally, there are factors that must be taken into account when deciding on starting a business in Bulgaria. It is worth taking the time to the following nuances:
- It is necessary to analyze all the proposed niches and determine what types of activities are relevant in sunny Bulgaria.
- You also need to understand what type of business will be given with ease. That is, to choose the niche in which the future businessman is well versed and will be able to easily make decisions if disputes arise.
- Before starting business, you should also consider the financial side of the issue. It is clear that any business requires investment. What will be this amount should be determined based on personal savings. In any case, you need to be prepared for the fact that the money invested may not pay off. That is, it is necessary to invest the amount of funds that it is not a pity to lose in case of an unsuccessful start of entrepreneurship.
- If you plan to open a business in Bulgaria, then you should be mentally prepared for the fact that you will have to visit many instances before doing business will give a start. Consequently, there will be a need to collect the required packages of documents for the legally correct registration of private enterprise.
These are some facts that must be taken into account if the decision to start a business in Bulgaria is exactly made. In the course of studying information, everyone will be able to understand what difficulties and pitfalls can be encountered in the process of registering private entrepreneurship.
What niches for development can you choose in sunny Bulgaria
Due to the fact that Bulgaria is a fairly populated area, and also in the warm period of time it takes thousands of tourists to its open spaces, eager to soak up the Cote d'Azur, first of all, it is necessary to decide what audience the business will be oriented to.
In the process of pondering what business to do in Bulgaria, some rely on the local population. Some people prefer running a seasonal business, designed for a period of tourist influx.
If you bet on business in Bulgaria, which will be relevant all year round, you can focus on the following niches:
- Building. This is a win-win option, because the acquisition of living space in the resort country has always been relevant. Not surprisingly, everyone wants to know that there is a corner where you can come and enjoy a beach holiday at any time. Equally popular is the purchase of real estate in Bulgaria and among the local population. After all, everyone is looking for the soil for themselves, which at the right time will bring profits from the rental of real estate for the summer. The only drawback of running such a business is that initially you will need to invest an impressive amount of money to purchase materials, rent or purchase construction equipment and pay wages to employees.
- Beauty Salons. Regardless of the time of year, level of wealth and age, all the representatives of the beautiful half of humanity visit places in which they are "inspired by beauty." This type of activity is also interesting in that the services can be provided to different audiences. The beauty salon can work both year-round and seasonally. To start a business, you need to buy or rent a room, purchase the equipment necessary for the provision of services, and also hire qualified specialists in this niche.
- Score. Opening a outlet can be carried out in various fields. The store can be opened both grocery and clothing. It all depends on the allocated budget and on the chosen field of activity. This type of entrepreneurship can be started regardless of the level of financial opportunities. After all, there is a chance of success for both large retail outlets and small representative offices in the form of kiosks, stalls.
If you plan to open a seasonal business in Bulgaria, then you can take note of the following ideas:
- Hotel business. In the tourist season, places to stay are in high demand. To win against competitors, you need to create special conditions, a high level of service and realize unique ideas in the process of refining the space of a hotel or hotel. To open such a business, you must initially significantly spend money on the construction or purchase of a finished building. Nevertheless, the costs will quickly pay off with the successful development of the business.
- Souvenir products. Well, which of the tourists does not want to take a piece of Bulgaria with them after the rest? You can realize the dream of vacationers by selling thematic magnets, cups, paintings and other souvenir products. Depending on what products are bet on, you can roughly calculate how much you need to invest to start a business.
- Tourist services. During the holiday season, vacationers want not only to soak up the sunny shores, but also to absorb new useful information. Therefore, the services of a guide, or, in other words, a guide who will introduce you to the sights and history of the area, are very relevant.
Regardless of which niche is chosen for development, it is necessary to analyze the market of competitors, as well as get acquainted with information on how much this niche is in demand. The ideal option is to choose the area of development in which the least competitors.
What is more profitable: a ready-made business or a business from scratch
When a decision is made about starting an enterprise, a future businessman faces many questions that need to be addressed. First of all, you need to decide whether to open from scratch or prefer a ready-made business in Bulgaria. Both options have both advantages and disadvantages.
The benefits of a ready-made business:
- Climbing a niche that has already been tested and promoted by the previous owner of the "brainchild."
- The opportunity to profitably buy a business if a past entrepreneur urgently needs money.
- You can immediately begin to start activities without organizing the process.
Disadvantages of a ready-made business:
- There is no way to independently think through all the details.
- There is a risk of acquiring a business that, due to the circumstances of past periods, has lost its reputation in the eyes of consumers.
Business benefits from scratch:
- You can pour your soul into activities, fully organizing the space and process for yourself.
- It is possible to invest as much money in the business as is available, and not to pay at once the entire amount that the seller requires.
- Also for those who do not like quick starts, but prefer to gradually develop their chosen niche, the option of starting a business from scratch is ideal.
Disadvantages of a business from scratch:
- There is no certainty that a niche will really bring the desired income.
- There is a risk of losing invested money when the business is started rashly.
Based on the pros and cons, it is necessary to prioritize and make the choice of the business that seems the most interesting and attractive.
A step-by-step guide for Russians who plan to open a business in sunny Bulgaria
Having decided on the question of what kind of business can be opened in Bulgaria, Russian citizens should understand that this process differs significantly from that which is familiar in the territory of their state. You need to understand in what order to carry out the process of starting an activity. The procedure is as follows:
- The initial task is to obtain a residence permit in Bulgaria. To do this, contact your local authority and submit the required documents. The process takes approximately two weeks.
- After a residence permit is obtained, legal papers should be submitted to open a business. For this, you will also need to pre-invent a company name, and also order the seal of the company. You will also need to open an account through which the movement of funds from the activities of the company will occur.
- When the most difficult two stages of opening a private enterprise have been completed, you need to think about how to advertise goods and services so that the start is successful.
Every entrepreneur must understand how important it is to act in the right order. This will help give an impetus to a successful start to the activity.
Top 5 most popular niches for entrepreneurship in Bulgaria
Many people who have decided to start a business in sunny Bulgaria should understand which areas are the most popular and profitable. These are:
- Minor repairs in homes and at home.
- Beauty Salons.
- Computer business, IT services.
- Travel business.
- Catering business.
These niches are most often taken into account, and also enjoy considerable success.
How can you open a business in Bulgaria with minimal investment
An entrepreneur, starting from his financial condition, can decide what kind of activity is built for him. Of course, many decide to open a business in Bulgaria with minimal investment so as not to jeopardize their hard-earned savings. The most popular niches that do not require large investments are:
- Creation of souvenirs for further sale.
- Providing guide services. This will require only knowledge of the surroundings and the language.
- Babysitting services for children of vacationers will also not require tangible financial costs. In this case, you need to have specialized experience.
In any case, everyone should choose the niche that is familiar, and not just starting from the financial side.
Why do Russian citizens choose a business in sunny Bulgaria
In a familiar environment, it is sometimes difficult to conduct any activity.Everything is connected with the fact that people are constantly surrounded by everyday issues and everyday affairs. Sunny Bulgaria inspires activity. Sea air, remoteness from the usual atmosphere - this is a chance for a successful businessman’s career.
What factors to consider when choosing the scope of business
Choosing a niche for starting a business, you need to be prepared for the following points:
- The presence of competition.
- The need to spend financial resources on advertising and promotion of the selected niche.
- Long wait for business income.
- The possibility of unsuccessful development of the case and failure to obtain the desired result.
Of course, it is better that everything works out without difficulty. Nevertheless, psychological preparation for possible failures will help to avoid unpleasant situations.
What documents to prepare for starting a business in the resort town of Bulgaria
In order to avoid delays in the process of company registration, it is necessary to prepare a package of documents in advance. To apply for a residence permit you need:
- Original and two copies of a civil passport.
- Visas
- Application received at the consular service of Bulgaria.
- Personal photos in a standard format.
- Documents confirming permission to obtain a visa.
For registration of a private enterprise, such documents will be required:
- Residence.
- Constituent documents of the enterprise.
- Signature samples of the owner and co-owner of the company being opened.
- Receipts confirming payment of state duty.
- Confirmation of the introduction of the authorized capital for conducting business.
On an individual basis, authorized structures may require additional documents that are not in the list of binding documents.
How to beat competitors in the selected niche
To become popular for the consumer and more successful than competitors who have settled in the same niche, it is necessary:
- To come up with attractive and high-quality advertising of the offered goods and services.
- Offer consumers a pricing policy that will be more attractive than competitors.
- You can also win against competitors by inventing a sonorous name and a catchy slogan related to activities or services.
In general, each novice or experienced entrepreneur will be able to independently determine what tricks to use to become more successful than others. In any case, the most difficult thing is the beginning, and then it will be easier and simpler. You should actively consider the details that will help to make business in Bulgaria successful and profitable.
