Starting a hostel in the Caribbean

Hello everyone,​I realized that in life I want to become an entrepreneur. My current plan is to travel on working holidays, starting next year, to save money (New Zealand,Australia,South Korea, maybe Canada and a couple of European countries) then start my own business. I have travelled quite a bit (41 countries and I'm 25 years old) and I plan on staying, and probably working, quite a lot in hostels the following years.I would like to know how much capital would be needed to start a hostel in the European territories in the Caribbean while renting a commercial use property and having 30 to 50 beds. I would add a bar if there is the space for it. Ideally, I plan on saving up and investing around 30000 to 50000 euros. Also, I would like to know how many metres squared are required to start a profitable hostel. I looked up the capital cities of some of the European Caribbean islands and there is nothing bigger than 200 metres squared. I speak both English and French so I could get around with local laws and networking.My main worries are related to the fact that at least once in a decade there is a hurricane that risks destroying all the infrastructure, as well as the time it takes to start up the company to make sure there is a net profit and turnover. As an European Union citizen, I'd choose the Caribbean over Europe as there are a lot less hostels in the Western Hemisphere and it is feasible in that part of the world to start a hostel and eventually expand into a chain.​Would it be an issue to not have a business partner while starting? Also, if anyone started a company in France, please let me know if taxation is a big burden. Otherwise, is it legally doable to start a business in Bulgaria or Romania then eventually carrying out the business elsewhere?​Thank you in advance for reading this post. Yes, I browsed through Hostel Management before posting here. via /r/business https://ift.tt/2NH4Akz