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It's in Spain, but the business model and market is getting crowded now. Every year there is more and more (relatively effective) competition.
There's still scope to get new clients from Holland and Germany but I'll have to get fairly fluent in both languages pretty soon. I'm keeping it tight and small, because mainly I prefer not to work long hours \too hard cos of new family commitments etc.
I tried six months running bike tours abroad. It was good at first but I soon realised that for just a little capitol investment (hire bikes, tool kit, van) I could do it myself for a lot less grief and more $$$. It's seasonal and I don't get any income from it October to Feb but it's a quantum leap from the drudgery of a fairly stable professional life I had in the UK before.
Not for the faint hearted though, as I went through a lot of cash in the first year (mainly my own) but it's paid out good style now.