The Beatles immortalized the saying, “Money can’t buy you love.” However, the concepts of money and love often do come together in a holy matrimony of combined incomes or in passionate pursuit of the finer things in life.
Couples who are looking to add some sugar to a joint venture or investors who want to add some romantic business to their portfolios may want to read on; NuWire has selected their Top 5 Romantic Investments, all of which offer opportunities that are hard not to fall in love with.
1. Real estate in paradise
The pristine Caribbean shoreline at Tobago
Contrary to what many believe, hot tourist destinations for couples can be affordable real estate investments. Poor countries in the Caribbean and Latin America, such as the Dominican Republic and Nicaragua, are attracting investment with their breathtaking scenery, affordable property prices and promising developments in infrastructure. As growth in tourism strengthens the economies in Caribbean and Latin American countries, investors will most likely enjoy a corresponding appreciation in property values.
An added bonus for couples is, obviously, the opportunity to build their own vacation home on some of the most beautiful coastlines in the world.
Wine, that lovely libation, invented by ancient civilizations thousands of years ago is still gracing dinner tables today. History tells it all: wine is an enduring luxury.
Those who love and appreciate fine wine may wish to consider the investment opportunity that comes corked in each bottle. Increasing demand for a relatively fixed supply of investment-grade wines has been the driving force for impressive returns in recent years. In addition, values for fine wine are not correlated to stocks or other traditional assets. For more information about investing in fine wine, see our article on Investing in Fine Wine
Wine enthusiasts who desire lifestyle returns might also consider investing in vineyards or wineries through full or fractional ownership. Although investment in vineyards may not yield high returns, investors can often enjoy annual wine allotments and other benefits. For more information on investing in vineyards, see Vineyards: Grape Expectations
Not all art is meant to be romantic, and some critics might argue that the term shouldn’t apply to any works beyond the 18th and early 19th century artistic movement. But none would deny the power of art to move people and influence culture.
It may come as a surprise to some that art is a decent long-term investment, with average annual returns of 10 percent between 1955 and 2004. Although investors might feel more comfortable with other investments offering similar returns but less risk, art, like wine, has little correlation with stocks and bonds; thus art presents investors with an opportunity to diversify as well as decorate.
4.Bed and breakfasts
Bed and breakfasts can be a cozy business for certain couples
Couples who are retired or plan to retire together might consider opening a bed and breakfast as a way to enjoy a quaint lifestyle while also remaining active. However, anyone interested in pursuing the trade should keep in mind that innkeeping requires a lot of hard work as well as substantial personal and financial resources.
Typical returns on gross room income are less than 5 percent, but innkeepers often reap lifestyle rewards by living on the property. People with excellent hospitality skills usually have the most successful—and most enjoyable—experiences in operating a bed and breakfast.
Before venturing into a bed and breakfast, investors should do research and gain some exposure to the industry before making a commitment. Furthermore, couples who wish to open a bed and breakfast together should make sure they are on the same page by agreeing on respective responsibilities and time commitments before starting their business.
5. Online dating services
It is estimated that 100 million American adults are unmarried, according to a press release issued by the U.S. Census in September 2005. The internet has found a way to tap into this market with the emergence of major dot-com enterprises such as eHarmony.com and Match.com, and the business is certainly nothing to sneeze at. Online dating sites generated nearly $650 million in 2006, according to an article in The New York Times last month.
However, growth has been slowing as companies figure out how to lure revenue from consumers. Jupiter Research, an Internet consulting firm, said the market grew 10 percent in 2006 and is likely to grow 8 percent per year until 2011.
Because of the staggering competition a small investor would face with well-known companies, niche markets that target a specific demographic or interest group, such as 50yearsplus.com or Christiandatingservice.com, are probably the way to go. One particularly confident entrepreneur founded HotEnough.org, a website that exclusively caters to people who meet an acceptable level of attractiveness.
Overall, dating services present an opportunity to be creative while playing cupid, and market to a very large—and interested—consumer base.