Market research and Architects
While Felix was here the last time we visited a couple of wellness and yoga resorts as part of our market research.
One of them was Casa Morisco (a well-established and completely booked out yoga resort). Wilfried, one of the founders of Casa Morisco, gave us three hours of his time and talked in depth about building and running a course resort! After that conversation, we realized we would need to reassess our plans for starting The Garden. In order to achieve our idealistic goals, we want to build The Garden on a stable revenue-generating foundation and lower the first investment (and the first bank loan) to an absolute minimum.
We also had an intense three-day workshop with our architects who we will introduce in the next newsletter. Brainstorming with them, we came up with a whole new idea for our construction plans which we are very excited about!
We have been looking at ways to reduce the initial costs for the project while keeping its all-round character and not losing our long-term vision for the project. We think we have found a great way of doing this and will keep you updated!
Our plans were heading towards an initial investment of 1.000.000,- Euro, having 15 people on our pay roll and needing to be booked out from day one – it just didn’t feel healthy and pretty unrealistic too.
Through our market research we have gained quite a good idea of what is possible in this area of Spain and in our area of business so all in all we are very positive about the future.