How to open a business in Bulgaria: step by step instructions

Many Russian citizens are betting on doing business in Bulgaria. Doing such an activity has many positive and negative sides. Therefore, before starting a business in Bulgaria, you should familiarize yourself in detail with the advantages and disadvantages of doing business in this country in order to prioritize and make a final decision.

The mission of getting acquainted with the nuances can be carried out by studying the information or through acquaintances who have encountered doing business in Bulgaria.

Is business in Bulgaria relevant for Russian citizens

Of course, before deciding on the start of private entrepreneurship in the territory of a country alluring by the sea, you need to understand the relevance of this issue:

First of all, business in Bulgaria is relevant for Russians due to the closeness in spirit and faith of nations.
Also, business on the territory of a sunny resort country is nice 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 are looking for a good independent life, which is difficult to achieve within their own homeland.

In general, there are more than enough reasons why Russians are betting on doing business in Bulgaria. Therefore, it is necessary to pay tribute to the study of information regarding the conduct of activities in the territory of this country.

What to consider before starting a business

Naturally, there are factors that must be taken into account when deciding to open a business in Bulgaria. It is worth spending time on the following nuances:

It is necessary to analyze all the proposed niches and decide what types of activities are relevant on the territory of sunny Bulgaria.
You also need to understand what kind of entrepreneurship will be given with ease. That is, to choose the niche in which the future businessman is well versed and will be able to make decisions without difficulty if disputable situations arise.
Before starting a business, you should also consider the financial side of the issue. It is clear that any business requires investments. What this amount will be, you need to determine 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 the event 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 start. Consequently, there will be a need to collect the required packages of documents for the legally correct registration of private entrepreneurship.

These are some of the facts that must be taken into account if a decision has been made to start a business in Bulgaria. In the course of studying the information, everyone will be able to understand what difficulties and pitfalls one may encounter in the process of registering private entrepreneurship.

What niches for development can be chosen in sunny Bulgaria

In view of the fact that Bulgaria is a fairly populated area, and also receives thousands of tourists in its open spaces in the warm period of time, eager to soak up the Cote d'Azur, first of all, you need to decide which audience the business will be oriented to.

In the process of considering the question of what kind of business to do in Bulgaria, some are betting on the local population. Someone prefers to run a seasonal business, designed for the period of influx of tourists.

If you are betting on a business in Bulgaria that will be relevant all year round, you can focus on the following niches:

Construction. This is a win-win option, because the acquisition of living space in the resort country has always been relevant. No wonder, because everyone wants to know that there is a corner where you can come at any time and enjoy a beach holiday to your heart's content. Buying property in Bulgaria is no less popular among the local population. After all, everyone is looking for a soil for themselves, which at the right time will bring profit from renting out real estate for the summer period. The only drawback of running such a business is that you will initially need to invest an impressive amount of funds to purchase materials, rent or purchase construction equipment and pay employees.
Beauty Salons. Regardless of the season, income level and age, all representatives of the beautiful half of humanity visit places where they are "beautified". This type of activity is also interesting in that 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 premises, purchase the equipment necessary for providing services, and also hire qualified specialists in this niche.
Shop. Opening a retail outlet can be carried out in various areas. The store can be opened both grocery and clothing. It all depends on the allocated budget and the chosen field of activity. This type of entrepreneurship can be started regardless of the level of financial capabilities. After all, both large retail outlets and small representative offices in the form of kiosks and stalls have a chance of success.

If you plan to open a seasonal business in Bulgaria, then you can take note of the following ideas:

Hotel business. During the tourist season, places to stay are in high demand. To win over competitors, you need to create special conditions, a high level of service and implement unique ideas in the process of ennobling the space of a hotel or hotel. To open such a business, you must initially spend a lot 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 their vacation? You can make the dream of vacationers come true by selling themed magnets, cups, paintings and other souvenirs. Depending on what goods are bet on, you can roughly calculate how much money you need to invest to start a business.
Tourist services. During the holiday season, vacationers want not only to soak up the sunny beaches, 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 to get acquainted with information on how much this niche is in demand. The ideal option is to choose the area of development in which there are the least competitors.

What is more profitable: a ready-made business or a business from scratch

When a decision is made to open a business, 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.

Benefits of a ready-made business:

Climbing into that niche that has already been tested and promoted by the previous owner of the “brainchild”.
An opportunity to profitably buy a business if a former 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 think through all the details on your own.
There is a risk of acquiring a business that, due to past circumstances, has lost its reputation in the eyes of consumers.

Benefits of starting a business from scratch:

You can pour your soul into the activity, completely organizing the space and process for yourself.
It is possible to invest as much money in the business as there is available, and not pay at once the entire amount required by the seller.
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 starting a business from scratch:

There is no certainty that a niche will actually bring the desired income.
There is a risk of losing the invested money with a thoughtless start of activity.

Based on the pros and cons, it is necessary to prioritize and make a choice of the business that seems most interesting and attractive.