JAZZDOG

1 hour ago, bermannor said:

I am just wondering. You told us how successful you are/were as a business man. So, you must swim in Baht/$/€/BTC. But for this business, you look for cheap as cheap can be including exploitation (gf).

Somehow, it doesn't fit. Do you use muscle/brain enhancing supplements?

Got to seriously wonder if their is even a bar girl who would buy into this guys Soi Dog Steakhouse idea.

1 hour ago, duanebigsby said:

GSFGSF

Time to give this a rest. You're  2 hour Thaivisa member who has had far more experience in both Thailand and the restaurant business than anyone, yet asked for advice.

You scoff at any advice given.

You are so good at restaurant industry you don't need a business plan. What?

You expect a staff of one to handle 100-200 covers, greeting, ordering, serving, cooking, serving, bussing, dishes and clean up. 8-16 meals an hour.

You are going to pay 10k baht a month in rent when any successful Thai steak shack is a ramshackle hut on the roadside.

When people suggest it might not work you get all snotty. 

Either a troll or delusional.

 

These restaurants work all the time. But with a business plan, cheap rent, and some staff.

This guys been punking you guys from the jump. This thread should have been closed around post #5 and renamed " Think my business model is worth 49baht

1 hour ago, theguyfromanotherforum said:

I don't understand why he leaves haha reaction to every post that makes sense. I bet he'll lol at this one too.

It's because he has smartest guy in the room syndrome. Very lethal when trying to learn anything, especially as unforgiving as business in LOS. I just don't understand him coming on here seeking information about business and then coming off like a know it all. If he was the least bit intelligent he would know this would be the last place to seek out any worthwhile information on running a successful business. Failed business information I can understand, Lol

1 minute ago, Bassosa said:

 

Yes I referred to that above. You are also correct about recording the lease and paying the tax. My landlord actually has us deduct the tax from rent each month and we have accountant pay it. Like it because I know it gets paid. Another thing currently is the Government has once again lost it's collective wits and decided to shut down 90% of the hotels in the country until they conform to hotels like Hilton which were design/permitted/built as hotels. Insane and never going to happen but it has freehold owners freaking out so I don't think they are as opt to be dumping good tenants.

4 minutes ago, Berkshire said:

Steak houses would seem to be more of a niche market, sort of like Mexican restaurants.  Thai's are not huge steak eaters.  And the folks who do love steak--like myself--would prefer to pay 400 bt+ for quality cuts.  Thais seem to love Japanese food and even that market is saturated. 

Exactly, if I had to eat 49 baht steak I would opt for Thai or chicken. Pattaya only has about half a dozen good steak joints. I live half the year in Brazil where they have the real deal where you flip your card up and they bring around different cuts sliced at your table with killer salad bar. They do great business because there are many wealthy Brazilians, don't know if you can get people to come off 2500baht pp for the best, if so you would have a monopoly for awhile at least.

4 minutes ago, ELVIS123456 said:

Agree about buying out a failed 'farang' operation and then making it good and then selling it - smart thinking as a farang is only likely to be able to sell it to another farang. 

 

All wife's family have shops and all but one have bought their current place because rents went up - I guess it depends on who and where, but they had 6 months and 12 months deals - none had a 3 year deal - and wife has never heard of that long a deal.  Bangkok, Roi Et, and Chiang Mai.  But that doesnt mean it doesnt happen in some markets.  

 

Pattaya typical 3+3 or 3+3+3 but as I understand it can only be recorded by law for 3 years, thats the problem

25 minutes ago, bkk6060 said:

You are right.  Just a weak male who would fold under a Thai girl saying: Get me a business.

Come on guys stop being the weak western male.

On the big picture, it is why so many of these places fail.

And I do not agree that the opportunity is there.  Plenty of these places in BKK and Pattaya over kill.

 

 

The problem is farang think they can take a bar girl used to laying on her back and eat bonbons all day then have her actually have to add and subtract,  think and converse and plan. Ain't never going to happen. Thing is you'll never know till you put her in the situation. There are people here that want to better themselves, you wont find them in a bar.

20 minutes ago, ELVIS123456 said:

One of the first pieces of advice given is the most important - dont, but if you must - dont rent. If somehow you are successful, that 10,000 baht will quickly increase to 15,000 or 20,000.  If you buy a townhouse sleeping/family rooms upstairs and the restaurant below, then you have a chance long term. And if food doesnt work out, maybe try hairdressing or somemthing else in high demand.  Thai landlords see a successful business as reason to increase rent - and they will do without a second thought. Many many stories to prove this - including several of my wife's family - yes they do it to Thais as well.  Some close after 6 months because the rent has been doubled. 

Actually most leases lock in the rent for the first three years and even spell out how much it can increase in years 4 and 7. In my case that was 10%or 3% per year which was ok. After the first three years though you are correct, the landlord can throw you under the bus. Problem with buying most shops is they are crazy overpriced and if you want to leave not easy to sell. Rents would yield maybe 3% so not a good deal at all as long term asset. The best way to make money is buy right a business from a distressed owner, get it up and showing a good profit and flip it. I have been offered 50% more than I paid but intend to list it in October when there are more fish in the water. Paying to much rent and especially yearly key money payments are business killers. I was fortunate in that the business I bought the price was considerably less than the guy I bought from paid to get the work done 6 months earlier. As so often happens he had to pull a runner once he figured out his beautiful 18 year old gf was lazy as hell with zero personality to match. He had done a good job of setting up the hosting sites and hand many reservations and reviews. The café also had many return customers. The guy did everything right except picking his date, Lol.

13 minutes ago, Bassosa said:

30% cost of goods seems ambitious considering the intended price point and cost of meat in Thailand.

 

But OK, let's go with the 81,600 THB gross.

 

Can we assume a few costs too?
 

Fit out cost and potential loan repayment? Equipment, stock, decor etc. 

Labour? Or is this a one man show?
Rent? 10.000 THB I mean? Nothing upfront, key money, property tax paid obo landlord?

Electricity & water?

Tax?

 

 

After suffering thru this thread it is clear few if any of you have actually run a restaurant. The OP is clueless and is in a fantasy world. He intends to compete in the most saturated sector of the food service industry without anything to set him apart. If his plan was even remotely viable every Tom , Dick & Harry would invest 300K baht in a store front and have his bar girl partner working solo 12 hours a day serving over 100 meals per day. Even if you somehow manage to stay open on such a shoestring your help is going to vanish and you will hire people off the street for a month or two then pull a runner. If you don't have something to augment your budget food joint you stand very little chance. That's why you see so many 4 story shops with a restaurant and rooms to rent above. The overhead and staff costs are split and if your lucky one portion pays the bills while the other is pure profit. One just needs to look around at all the restaurants suffering. If you call making US$1000/month working 80 hours /week successful then you may have a 50/50 chance of lasting one year. That is if you open in October, Lol

1 hour ago, seancbk said:

 

Really?   

Ok 49 THB for the cheapest meal promoted to bring people in, but then in the menu there are higher priced meals often with a high margin.

But let's assume they only sell the 49 baht meals.  You'd expect a 30% food cost (14.70 THB) so gross profit of 34 THB per meal (rounded down).    100 covers per day (covers is F&B speak for customers) = 3400 THB per day gross. 

3400 THB x 24 days (closed 1 day per week) = 81,600 THB Gross

That doesn't include additional revenue from drinks, sides or higher margin meals. 

Even after paying rent, utilities and staff there should be a pretty decent profit coming out of a place like this.  

 

 

looks great on paper but it never is reality. subtract 30% from your Income and add 30% to expenses and convince a thai girl to work her ass off 14 hours a day. I have yet to see a Thai multi-task or exhibit any analytical planning ability. living in a fantasy world thinking he can have a staff of one and he does nothing. With that business model he can expand to twenty locations in no time. 

25 minutes ago, GSFGSF said:

 

 

Thank you, interesting, but you are talking as if we would open a US steak house ?

It will be a cheap steak place and Thai who mostly know nothing like these places, the quality of the meat doesn't need to be the best for less than 100 thb a dish...

People should forget about BEEF steak, mostly for Thai a steak is pork or chicken, but we will also sell the cheap beef that some eat (not me).

I personally do not like any restaurant owner or chef who is around and talk to me, I prefer the Thai way, just like Thai, and our customers will be mostly Thai.

Side dishes will be homemade because it's cheap and easy to prepare them in advance and warm them when needed.

By the way, I have eaten at dozens cheap steak places around Thailand, I am a body builder and need almost a kilo of chicken daily for proteins, this is why I go to these places.

 

 

 

 

 

Give your girl one month maybe and she's history. 

26 minutes ago, Bassosa said:

Haha, 70% ROI.

 

Sure.

So I guess you expect to survive from a 25%ROI on a very small investment, not happening.

9 minutes ago, Bassosa said:

Haha, 70% ROI.

 

Sure.

We make 70-75k / month after expenses you do the math smart ass. You really actually believe you can survive on a 25% ROI on such a small initial invest. You are clueless.

29 minutes ago, rwill said:

There is some pretty good Thai beef available.  I get mine from KU Beef.  5 star rib eye costs ฿850/kilo.  You have to buy a whole piece for that price, 4-5 kilos.  But they will slice how thick you want and vacuum seal for free.  But too expensive for ฿49 steak.

 

Best beef in Thailand at Smokin' Joes in Pattaya Central . 1100 baht / couple includes 4 beers. Our routine is happy hour on LK Metro than across the block to Joes. 2000/evening/full with a healthy buzz and back to the house. I wouldn't feed 49baht steaks to my dog.

4 minutes ago, bermannor said:

The only interesting figure is the ROI.

Let me put it to you this way. Before we bought the business I spent 70K/month total to live here. Now I pay nothing, bank about 15K/month and the GF doesn't ask for anything. On top of that I get room service, all meals for free, beer for free and time to go hang with my mates without her tagging along. I paid 1.2M/no key money/3+3+3 lease/12 months rent included in purchase price. The ROI comes out to 70% but fails to reflect paying my GF which would lower it a little bit. Since your talking small numbers IMO it is not worth the effort she puts in. But she is happy which is all that counts. Although I bought knowing the investment was 100% at risk I have had offers to buy considerably higher than I paid. The gf doesn't want to sell and since I have recouped my initial investment I'm good as long as she is. A business like this totally dependent on the work ethic and personality of management and staff. In that regard my GF has the game to make it successful where many don't. I know I wouldn't, no freaking way,lol.

10 hours ago, pgrahmm said:

 

That's classic ! Short one looks like my ex, same personality

2 minutes ago, smotherb said:

Well, I have seen some conniving vindictive Asian women too; but I have little experience with  Russians and Colombians.

Lived in Costa Rica for a decade and they were notorious scammers. The Latinas from Columbia not as much but still a handful. Seen Boston Georges wife on "Blow" and  you get a good picture. Most Latinas are actually pretty cool. Thai girls make the top five for sure.

4 minutes ago, smotherb said:

Do you not read?  I neither said there were no good-looking Western women nor did I say there were no Asian dragons. As far as shelf-life; well, we'll have to see what she looks like in a few years.

If you list conniving vindictive women Russia is number one with a bullet followed closely by Columbia. One look at this one tells a story don't it.

9 minutes ago, janclaes47 said:

Good point, and one I have been thinking about for years.

 

if a Pattaya policemen would take post at just 1 traffic light and fine them 100 Baht without a ticket, he could buy himself a new benz every month.

 

So are they really that dumb or are there other factors in play?

The cashflow would be too transparent. Plus the fact it would improve compliance which is their greatest fear. And they really are that dumb.

I propose a deal where I will personally fund the installation and monitoring of 200 intersections in Pattaya/Jomtien. I get 20% of the fine revenue and the cops keep the rest. Sat at Pattaya Tai and third road by Kens and counted 218 infractions in 10 minutes. By my conservative calculations:

200 infractions x 6 = 1200/hour x 18 hours = 2160 infractions / day x 200 intersections = 432,000 infractions recorded / day x 1000baht/infraction=

432,000,000 x 20% = 86,400,000 / day gross profit. The installation would be paid off in 6 hours and I would be pocketing 2.6 billion baht per month. Only flaw in my plan is if you actually fined these people they would abide by the law and screw up my bottom line. Lets just fine them 100baht/infraction and I'll have to be happy with 260M/month

42 minutes ago, Jip99 said:

 

 

Doesn't seem to have hit this one yet....

 

Buy that poor girl a big mac super combo

16 minutes ago, AntDee said:

Brazilians are great if you get them between 17 and 23. After that, all that unwieldy meat begins to sag wobble and away. Not pleasant 

I live in Bahia and there are incredible malls there where the women rate right up there with NYC which many consider has the highest concentration of hot girls anywhere. Go to the beach where I live on a weekend and you will see more hotties in one afternoon than you will see in Pattaya in a year. So many girls prostitution does'nt work because of the over supply.

BRAZIL?