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Post by crojoe on Oct 23, 2013 11:28:35 GMT 1
I think Ribaric has hit the nail on the head ... Croats don't want foreigners to succeed. it shouldn't matter if you have the mental resilience to ignore it, but it does matter. It comes with a suspicion that you might want to make a profit, and that therefore you must be doing something illegal. So, the only course of action is to watch you carefully, and call an inspection if you seem to be making some headway. I got my wake up call quite early on. The local paper published a story about us settling into life in Croatia with our two toddlers. Everyone we spoke to was very nice and welcoming and we had no idea of what the true attitude was. However, we found out when the local website for our area republished the story and people commented below! I made the mistake of putting it through an online translation. Wow! The best i got was we don't want them, they should go home and the worst suspected us of being criminal masterminds! The inspector arrived a few weeks later! I've been lucky for this not to happen, but I did have my functioning company liquidated from right under us by the Croatian business chamber of commerce and the court without any notification whatsoever. We where able to empty our bank account in time (before it got blocked) and I think we came out of it better then them, and it wiped our slate clean at their expense. We only found out when we went to our local notary to make a change on the company charter. At first we got all upset, angry and raising our hands in frustration(Croatian style). We had our accountant contact them and they say they sent us 7 letters (guess where too, to our UK address from 9 years back), and not to the actual company address in Zagreb (that was clearly stated on all our paperwork, company charter and legal papers, stamp etc). Anyway, in the end we came out of it fine, but it did enforce my thinking that doing business in Croatia is risky and you never know what can happen, be it a knock on the door by an inspector, your papers going missing (two years of company tax returns got lost in a corner of our local tax office, piled high amongst a whole bunch of papers by staff). We where advised to just let it go (not make a fuss) and let them close it. Now of course they have tightened up even more things for company owners, making changes as they go, so lets see what happens with our newish company. The upside is they raised the PDV signup threshold from around 3500 Kuna to like 200,000 Kuna. We have had to upgrade our R1's to include all the extra info and become more religious to pray we do things right. There are no second chances if you screw up, just fines.
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Post by crojoe on Oct 23, 2013 11:33:13 GMT 1
I think we all wish them the best...BUT! Let's talk business. Like Carol, I've been around these boards, in one guise or another, for over ten years now. It was the first place I came when I became interested in investing in Croatia, yet the Juice Bar folks haven't been here for any advice, comments, market research etc. Secondly, with regards to outside investment, their crowdfunding page is just obliterated with loved-up pictures of the duo. Not even images of possible business locations, just smoochieroos and selfies. There is no indication of any form of business plan whatsoever. If there had been, I may have considered investing. Plus, I can't find any contact details (as in address, telephone number or past experience) for two business people trying to attract $64,500. Lastly, I concur with Carol. We all have a honeymoon period in this beautiful country, and then reality comes knocking...with a big stick. Here's something like what they want to do, so who knows it might work, but it ain't a new concept: www.fruitee.com.hr/
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Post by ZAD on Oct 23, 2013 12:11:52 GMT 1
It's certainly not a new concept: America's "Smoothie King" first opened in 1973. But it's not the concept I doubt. It's the way they are asking people to hand over $64,500 without any indication that they know what they're doing. Where is the money going? From a quick search, the only cafe premises I can find in Split for rent are charging between 2,500 to 6,000 euros per month. A seafront premises is available for 90,000 euros, encompassing an 8-year lease (which has to be paid). What about the equipment, furnishings, work visas, public liability insurance, company set up, accountants, licenses, utilities, translation, web hosting, advertising, staff salaries? The list is endless. Will a chunk of this 64k pay for their accommodation? Have they sourced suppliers
Even, if by some miracle, Romeo and Juliet make a success of this venture. The Croatian guy with the coffee shop round the corner will see an enviable gap in the market, and before you know it, he'll be copying them (or calling in the financial police).
I'm busy putting together a start up business for a young couple (not in Croatia I hasten to add), and before there is any injection of cash, every last nut and bolt will be in place, including the all-important exit strategy. What if it doesn't work? What if the Juice Bar goes bankrupt within a year, owing Croatian taxes and workers' salaries?
I know I sound bitter. But business is business, and dreams are dreams. And in Croatia...the two don't mix.
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Post by ZAD on Oct 31, 2013 18:43:48 GMT 1
5 days left to go. $9,963 of $64,500 raised. 217 people now have a say in the overall running of the business.
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Post by ZAD on Nov 1, 2013 15:01:08 GMT 1
4 days left to go. $10,111 of $64,500 raised. 218 managers.
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Post by ZAD on Nov 4, 2013 17:34:55 GMT 1
16 hours left to go. On the edge of the seat stuff. *fingernails bitten to the knuckle*
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Post by usplitu on Nov 4, 2013 20:18:40 GMT 1
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Post by ZAD on Nov 4, 2013 21:41:23 GMT 1
I disagree with indiegogo's methods. Kickstarter is the biggest, most viewed, most donated to, and most successful crowdfunding site. However, if the target is not raised then the project receives zilch - a sure way to stop any fraudulent endeavours. Indiegogo, on the other hand, will give out any dosh raised, even if it is well below the target. I foresee a very long holiday in Split coming someone's way, and then a declaration that the Juice Bar is not going to happen. Sorry y'all.
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Post by crojoe on Nov 25, 2013 14:39:29 GMT 1
Any updates on this story? The deadline past, so will we be seeing a juicy bar open up in Split or case of "I gotta split"?
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Post by gmh on Nov 27, 2013 8:52:17 GMT 1
Their facebook page says they are still going ahead with the idea and are now looking at more traditional ways of funding, such as, individual investors and bank loans. Seems they are intent on digging a deep hole for themselves in Croatia.
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Post by crojoe on Nov 27, 2013 9:40:55 GMT 1
Their facebook page says they are still going ahead with the idea and are now looking at more traditional ways of funding, such as, individual investors and bank loans. Seems they are intent on digging a deep hole for themselves in Croatia. Kind of wish there was a way to tell them to be careful.
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Post by brianwgoquixotic on Jan 21, 2014 17:15:41 GMT 1
Hello. Hello everyone! I just wanted to introduce myself. My name is Brian Wimberley, the Co-Founder of {go} Quixotic. I have been following this conversation for some time now. I really do appreciate all the comments. I absolutely love critique and insight from others, it pushes me forward and makes me want to be better. So I owe you all a "thank you". Our project has definitely sparked discussions liked this all over the place.
An Update. After successfully raising 20% from crowdfunding we are now in our second phase of startup funding. All of my time is devoted to this end.
For any personal questions, comments, etc....please don't hesitate to email at brianw@goquixotic.com
Take care and have a great evening...
BrianW goquixotic.com
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Post by ZAD on Jan 21, 2014 18:52:32 GMT 1
Welcome to the forum, Brian.
How are your plans progressing with regards to Split itself: Trading venue, permits and visas etc? You'll have read my (and others) doubts about your venture. It's not the concept - it's the country.
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Post by crojoe on Jan 21, 2014 19:04:11 GMT 1
Hello.Hello everyone! I just wanted to introduce myself. My name is Brian Wimberley, the Co-Founder of {go} Quixotic. I have been following this conversation for some time now. I really do appreciate all the comments. I absolutely love critique and insight from others, it pushes me forward and makes me want to be better. So I owe you all a "thank you". Our project has definitely sparked discussions liked this all over the place. An Update.After successfully raising 20% from crowdfunding we are now in our second phase of startup funding. All of my time is devoted to this end. For any personal questions, comments, etc....please don't hesitate to email at brianw@goquixotic.com Take care and have a great evening... BrianW goquixotic.com Good luck Brian, coming from someone with a small family business in Croatia. Just don't give up your day job!
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Post by ZAD on Jan 22, 2014 19:13:32 GMT 1
I was in Split for New Year. There's a 'Pizza Cut' near the riva, and boy was it jammed. 10 KN a slice. 2 staff (a waitress and a cook). They must have been turning over at least £200 an hour. Tough competition. The surrounding restaurants / eateries were empty.
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