Recently, Tbilisi has become a popular destination not only to tourists but also to entrepreneurs and investors who are looking for business opportunities. therefore, lots of Questions have appeared such as what are successful businesses in Tbilisi in other words, What businesses make more money in Tbilisi? my mission in this article is to answer it.
Well, Georgia is a part of the European Union’s Free Trade Area. According to the World Bank Group rankings Georgia is in the top 10 in the Ease of Doing Business. Meanwhile, the country is known for its business-friendly environment.
Starting a business in Georgia tends to seem interesting for foreigner investors. Having the lowest crime rate and corruption in the region, this country has a lot to offer in terms of startup. While investment in real estate remains the most favorable way of making business here in the country and especially in the city of Tbilisi, there are some other options that might sound interesting for you.
The real estate industry is considered as one of the major economy sectors in Georgia. An investor can participate in this industry in many possible ways: buying homes, coming as a building contractor or as a real estate agent etc. Making a real estate investment in Tbilisi is increasingly attracting the “offshore” world. Compared to any other cities in Europe (Eastern and Western) the real estate commerce is attractive there.
The real estate is very cheap in Tbilisi. The tax and property law is foreign-friendly: There are no real estate ownership restrictions for foreigners. Even the property tax is very soft and doesn’t exceed 1 percent of the value of the property.
Over the past decade, Georgia has seen a dynamic growth of international visitors and the occupancy rate in the hotel sector is very high. High demand and lack of competition could bring you excellent rental returns. Renting your estate monthly gives you an opportunity to see the financial gains.
Tbilisi is the capital of Georgia and the key destination for tourists and business travelers. The city has a remarkable historical heritage and various tourist attractions. Under normal circumstances tourism plays the leading role in Georgian business reality.
As it was mentioned above, the occupancy of the hotel sector is very high. Under these conditions, opening a hotel might be a very profitable business. Most of the time, the guests are attracted to the location so the cozy boutique hotel located in the city center, with reasonable price and beautiful views (Mountain View for ex.) can succeed very fast. One of the main indicators is a friendly team and satisfying service in accordance with smart management. So get started and open your doors to people around the globe, start putting your business on online platform. More details in Hossam’s video where he shares his experience starting a hostel in Tbilisi with 1000 USD.
With low capital and desire to provide excellent services starting a cafe, bars or restaurants in Tbilisi might be a good idea. This industry does not require huge substantial capital and looks interesting for the small business owners, on the other hand, it is easy to register such a business.
Restaurant and bar is a highly profitable business that an entrepreneur can set up in Georgia with ease. If you already manage a hotel you can easily open a bar or a restaurant in it. You can serve the variety of fresh Georgian authentic cuisine and wine, host events and the growing success will appear. You should ensure that your restaurant and bar are well located, don’t be cheap on marketing (digital and live) and the spot will attract enough clients per time.
Another option is to buy the franchise from an offshore company to get access to a worldwide famous fast food restaurant in Tbilisi with the prime location near the center. Franchise networks are very popular among different brands and might lead you to success.
There are a few dry cleaning service providers in the city. The existing providers are not very famous, so if you are willing to start a small scale business in Tbilisi, then you should consider starting your own dry cleaning service. You can become partners with the hotels and provide your services to them. Dry cleaning might include another cleaning service as well. Truth is, investing in dry cleaning is simple even if the specific infrastructure is required to start the flow, but the potential of that small scale business is predictable.
Another profitable business that an entrepreneur can set up is a healthcare facility. The emerging demand for a healthy life-style has caused the increase of wellness spots.
Indoor swimming pool, high quality consulting service on health care, trained staff, private, corporate and loyalty offers, paid partnership with customers, offering various training program and an experienced manager can boost your business.
Opening a sports bar and massage area will add a plus to your business. Meanwhile, you could make a great sales partner with other facilities. For example, inn case your employees work as pharmacists and you get the licenses from the government you should consider starting your own pharmacy and wellness shop offering organic produce. Although the pharmacy industry is strictly regulated in Georgia, it is highly profitable.
Even though almost 10 million tourists enter Georgia on season, there is a lack of self-storage space in the city. You could start your business with one covered trailer located in the prime location in the city. Try making it flexible by adding different payment methods (at the place) like cash, visa or other cards and reasonable cost for the service. You could also provide an opportunity of managing the service with a mobile application. Operations like storage solutions are on demand on market, especially under the conditions of increased tourism numbers on season.
To conclude, Doing business in colorful Tbilisi might seem full of challenges at starting but the opportunities for the entrepreneurs are emerging: you can take first steps here or expand your business. In both ways, you are going to need an expert’s to guide you in your way, in that case, schedule a call and our team will provide a professional tour on the topic.