Historically what has worked better?
Modern colonialism (Spain, Portugal, Netherlands, Belgium, England, France, and to a lesser degree US, Italy, and Germany) was a practice of the emerged capitalist states that started and flourished after the historically agreed upon dawn of capitalism (circa late medieval Italian city states and later the rest of Europe), and fed it.
Try to actually think about what would be required, what resources they would have had available to them, instead of just putting hunter/gatherer in a magic box. There are a bunch of different reasons why you can't do it these days, poaching laws being one of the most obvious.
Who's land are you going to hunt/gather on? I feel like you haven't actually thought about this.