Maaz Safder decides to close his Swat resort due to Rs4 crore loss

Renowned vlogger Maaz Safder shared the unfortunate news of a substantial financial loss in his Swat resort business, explaining that it had "depleted his entire savings" and had adversely affected his various ventures.

In a recent vlog, delving into the details of this financial setback, Maaz offered financial advice to his followers, stressing the principle that "unless your first business succeeds, refrain from engaging in another venture."

According to the YouTuber, he neglected his first two businesses and invested money simultaneously in multiple ventures. Though he claimed the two were thriving, a recent addition suffered a substantial loss, impacting all three businesses.

Speaking from his Swat resort, he revealed its monthly expenses amounted to Rs4 million, saying, “how long could one sustain it from their own pocket? I invested and furnished it for a year, but now it's exhausted my savings."

Aiming to capitalise on local tourism, he started the business amid peak inflation. However, due to the worsening economic situation, tourism dwindled, and the resort failed to attract visitors.

He maintained that the rising terrorism and last year's floods dealt a severe blow to tourism, requiring constant renovations on his mountain-carved resort, which ultimately drained his finances.

The 23-year-old social media influencer rented the property when the economic situation was relatively stable. 

"I strived to provide excellent staff and services. Unfortunately, due to a lack of tourists, and manifold increase in expenses, I decided to close the business," he elaborated.

Despite a huge financial setback, Maaz expressed hope for rebuilding his business and sharing a success story in the future with his followers. 

He stressed the importance of thorough research before investing money, and emphasised that setbacks are part of the learning process and urged others not to lose motivation.