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Brian Morgan, founder of Adventure Life
COMPANY: Adventure Life
FOUNDER: Brian Morgan, 35
LOCATION: Missoula, Montana
2008 REVENUE: $11 million
START-UP YEAR: 1998
START-UP COSTS: $3,000 for two brochures and a laptop
BREAKEVEN: One year out on sales of $125,000
BIGGEST EXPENSES: $11,500 on advertising in 1999 and $33,500 in 2000. The biggest bite was print ads in magazines such as Outside and National Geographic Adventure.
QUALIFICATIONS: Fluency in Spanish. Relationships with trusted locals and longtime expats on the ground
RED TAPE: Regulatory burdens fall on lodges and providers of transportation and other services in countries visited, rather than on the tour operator.