Relocating and want...
 
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Relocating and wanting to bring business

 
Dbattersby
(@Dbattersby)
Active Member

Hi! Me my husband and 2 boys will be relocating to the island in the next few months.

We plan on making a visit in the next month or so, but want to find a good real estate agent that can help us find a home to buy, and a place to rent to open our business down there.

I own a yoga apparel company and I'm wanting to open up a boutique carrying my line of clothing along with other lines as well. I'm wondering the best locations we should be looking at and what is rent typically down there for commercial spots.

Is there better places to live than others, especially with kids? More than likely we will go the Montessori route for our oldest and our youngest won't be in school for a few more years.

Thanks for all your help!

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Topic starter Posted : July 17, 2017 3:40 pm
speee1dy
(@speee1dy)
Expert

you havent said which island but i would think STT would be your best bet.

do you have enough money saved up just in case? you have kids? have you thought of schools and medical emergencies?

most people say to rent first and buy after you have been here at least a year. i know many who wish they hadnt bought a house. now they are stuck

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Posted : July 17, 2017 4:02 pm
AandA2VI
(@AandA2VI)
Trusted Member

Not to be a downer but I don't think there's enough yogies here to warrant a store like that. Better to get your apparel into already open stores. Several in Christiansted sell yoga stuff but I'm sorry most yoga clothes are insanely overpriced. I and I'm guessing many just go to Kmart, I do.

That said my friend is getting rid of a small work out studio in Frederiksted that would be great for a studio and a small shop inside.... did you decide on an island? I think (if STX) you'd be way better off offering classes out west. We're dying for some sort of excersize place out here, whatever it may be.

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Posted : July 17, 2017 5:13 pm
Dbattersby
(@Dbattersby)
Active Member

We were thinking stt. Open to others. It wouldn't be just yoga clothes, more swim and clothing options too. We aren't high priced, so we would be able to price lower which I know is appealing to most.

I do have 2 kids, we have a global health care coverage already so we're okay for coverage there. (At least from what we have called and talked to the company about)

We have money saved up for a move, I'm open to renting first, my husband wants to go all in 100% and just do it.

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Topic starter Posted : July 17, 2017 5:22 pm
Dbattersby
(@Dbattersby)
Active Member

More than likely we would move,then start the business after a year of living there to really feel out everything.

And see more so what locals and tourists want and need.

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Topic starter Posted : July 17, 2017 5:30 pm
speee1dy
(@speee1dy)
Expert

global insurance? does this mean you are not US Citizens?

We were thinking stt. Open to others. It wouldn't be just yoga clothes, more swim and clothing options too. We aren't high priced, so we would be able to price lower which I know is appealing to most.

I do have 2 kids, we have a global health care coverage already so we're okay for coverage there. (At least from what we have called and talked to the company about)

We have money saved up for a move, I'm open to renting first, my husband wants to go all in 100% and just do it.

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Posted : July 17, 2017 7:04 pm
Dbattersby
(@Dbattersby)
Active Member

No we are. We travel a lot so we have insurance that will cover us anywhere outside of the us- and its territories

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Topic starter Posted : July 17, 2017 9:27 pm
Exit Zero
(@exit-zero)
Trusted Member Registered

No we are. We travel a lot so we have insurance that will cover us anywhere outside of the us- and its territories

The USVI is NOT outside the US or its territories. Will it work here?

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Posted : July 17, 2017 9:31 pm
Scubadoo
(@Scubadoo)
Trusted Member

Your insurance will cover you as permanent residents outside of US mainland, specifically as VI residents? That is the question to ask.

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Posted : July 17, 2017 9:32 pm
Dbattersby
(@Dbattersby)
Active Member

they said the USVI is covered.
Let's hope that remains the case if I ever need it!

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Topic starter Posted : July 18, 2017 12:36 am
Scubadoo
(@Scubadoo)
Trusted Member

Ideally it will cover annual preventive care and you'll use it in the first year.

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Posted : July 18, 2017 1:14 am
Dbattersby
(@Dbattersby)
Active Member

I'm just hoping a boutique business is viable on the island, and hopefully can employee some people as well!

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Topic starter Posted : July 18, 2017 1:34 am
East Ender
(@east-ender)
Expert

I wish you luck. My suggestions to newbies have always been:
1. Don't burn your bridges back home.
2. Rent for at least a year before you buy anything or ship your stuff from big America. This will help you figure out where you want to live (if you do stay).
3. Work in someone's similar business for an extended period. You need to learn about the labor laws, the tourist traffic (you *will* need tourist $ for your yoga venture), "season", the ins and outs of running a business here, etc.

You will need to ask physicians here if they take your insurance. The insurance business is regulated by the Lt. Governor's office and they are not too much about companies they don't know. What the insurance company (who wants to sell you insurance) says and what happens on the ground can be completely different.

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Posted : July 18, 2017 10:57 pm
Dbattersby
(@Dbattersby)
Active Member

Thank you so much for the advice! We plan on now renting a house or place there for a year while we rent out ours here in the states.

I will more than likely try and secure a job there in the industry before we open ours, to really see what will be good and bad, and if it's worth it..

We're coming from park city Utah so a really high Cost of living and tourist destination too, the business has done great here and had a lot of national attention so I will be bringing it to run and ship from there (so I'll be st least seeking help with sewing and designing) opening a store front is just the end goal hope!

We fly out the 8th of September for our PMV and can't wait to see it all. A little worried and scared but also excited for a new adventure

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Topic starter Posted : July 19, 2017 1:06 am
speee1dy
(@speee1dy)
Expert

relax and have fun

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Posted : July 19, 2017 11:49 am
ms411
(@ms411)
Expert

Check out the Barefoot Buddha Boutique on St Thomas. They were one of the first places to offer yoga clothes. KMart is a popular store for casual clothes including yoga attire.

Location is going to be challenging. There isn't a shortage of stores here and most people aren't willing to go but so far. Havensight may be the best location and I know one store there is closing end of July 2017.

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Posted : July 19, 2017 1:01 pm
Alana33
(@alana33)
Expert

Red Hook location would be worth looking into.
Many hotel resorts, marinas, beaches, vacation rentals, cute shops, etc. catering to locals and tourists here longer than the ones that come on cruise ships for just the day.

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Posted : July 19, 2017 1:22 pm
rosesisland
(@rosesisland)
Trusted Member

My best advice, do not bring a shipping container full of things! Do not buy a home for the first year at least, maybe two or three.

I've seen too many people with your dream, more than not, come and regret buying in an area and find it didn't work out and want a different area later and are stuck. Most have left island all together and now are in a financial bind from trying to experience their dream.

I first came in '95 and have met more people that are no longer here than people that have stayed over the years.

Right now my neighbor is regretting that he brought furniture and is currently paying out the yingyang for storage. A ton of rentals are available furnished.

That being said, I've sold two houses stateside and still don't know what area I'd like to buy a house in or, for that matter, purchase at all.

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Posted : July 19, 2017 1:49 pm
Dbattersby
(@Dbattersby)
Active Member

Thank you for the advice! We don't plan on selling our home in the states just yet, and will rent until we figure it out. Is the market there good? I'm worried if we did buy as an investment it would turn into just sitting there because it doesn't seem like real estate moves that quick.

We're not bringing anything with us at all, but one pallet of stuff and our suitcases. I figure we can get what we need on the island and live pretty simple.

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Topic starter Posted : July 19, 2017 6:10 pm
Dbattersby
(@Dbattersby)
Active Member

Thank you all for the location advice! We are looking at all informatoin for places, and have a possibity of doing one at the yacht area shops.

We're going to check all locations when we get there in September!

Can't wait to meet everyone and thank you so much for everything. I'm excited about the move, and ready for it.

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Topic starter Posted : July 19, 2017 6:12 pm
speee1dy
(@speee1dy)
Expert

i know someone whose house has been on the market for a number of years. they are asking too much for it though

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Posted : July 19, 2017 6:26 pm
Dbattersby
(@Dbattersby)
Active Member

That's what I'm finding, the prices are super high for what they are.

Now what type of car should we need for the island?

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Topic starter Posted : July 19, 2017 7:01 pm
Scubadoo
(@Scubadoo)
Trusted Member

Now what type of car should we need for the island?

The best ones have 4 wheels and a wind shield with no cracks. Don't go for any with less than 3. You may want a 4 wheel drive on STT or STJ but don't need it on STX. Something with nice ground clearance and good suspension is useful on STX to get past the larger pot holes and speed bumps. As small as you can get by with is probably better in general, helps with the parking and keeping the outside mirrors sometimes.

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Posted : July 19, 2017 8:18 pm
Bigfacemoe
(@Bigfacemoe)
Advanced Member

I know the gym on St. John is for sale, and they have a larger-than-usual apparel selection for a gym. We were there in Feb and my girlfriend bought a shirt from them.

Look into buying them and adding your apparel line as a line of business.

Just a thought.

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Posted : July 24, 2017 9:35 pm
speee1dy
(@speee1dy)
Expert

some people say a jeep is mandatory but it is not. i brought a ford escort with me. worked fine. got up a few of the hills i didnt think it would.
i now have a sentra and does a good job too

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Posted : July 25, 2017 11:12 am
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