rchapstick

a little off topic but i'd like to understand how they name the gasoline here.

in europe the numbers are used to qualify the purity of gasoline so 95 is higher than 91 and thus more expensive while here it's the opposite.

could someone explain this please?

thanks

I've seen Gasahol 95 cheaper than Benzine 91. Perhaps that is what you are referring to?

docs required etc?

For Thai seafood, I like Madam Green's in Khao Takiab on the beach. Outstanding steamed and curried crab!

Le Meridien Khao Lak has family freindly rooms, a kids club, and special kids pools. Great beach too, and a very well run resort.

I maintain an address in America and have a brokerage account and credit union account there. Both institutions are aware that I am not a US resident, as is the IRS. I like the credit union vs a bank, as they have all the same sevices, pay me an annual dividend and have higher money market rates. I also like that every senior employee there knows be my name, acts on my call, and we can dispense with most rules and paperwork.

Jonnie, I don't doubt that you have researched your CA property issue and feel confortable with your filing status. Just know that the CFTB is the most aggressive taxing agency on the planet and their computers WILL, at some point, generate some bullshit notice, saying you owe them some back taxes. This will cost you time and money to sort out and of course the clock will be ticking before penalties and interest accrue on the bogus charge from their "revenue enhancement officers"(no shit, that's what they call themselves. After 3 of these assualts I finally said to hel_l with it and pulled the plug on all California entanglements.

Truer word have never been written!

If you need to create a virtual US residence, better to set it up in a state without state income tax.

Nevada comes to mind ....

I saw the AirAsia CEO interviewed a while back, and he said they did absolutely no hedging on fuel costs and currency. Looks like that decision bit 'em in the arse this past year.

Not entirely correct Cuban.

7-11 has in mind a "capacity" for a store, somewhere in the neighborhood of 2.5mm baht per month of sales (though this can vary based on the size of the store, number of registers, etc.). Once the store begins to exceed capacity, then they look to open another store nearby. The idea being that once capacity is exceeded, then customer service will suffer and people will go elsewhere.

A good example is the two shops literally across the street from each other on Asok, just norht of the Grand Millenium. The shop on the west side of Asok, a franchise, does better than 3mm a month, while the company owned store on the east side does about 2.5mm baht per month. Both are very busy, and very profitable. Would not surprise me if 7-11 would look to open another shop nearby soon.

One the other hand, the shop on Suk Soi 23 does better than 4mm a month. 7-11 would love to open another location nearby, but cannot get a lease.

So would CP give the "ground breaking" franchisee the opportunity take on another store?

Would they put in another franchise or a company store in the second or subsequent site?

I think that depends on a number of factors. But for a franchisee that CP likes, and who has the capital and is willing to take on the additional investment, then the answer is they would let the franchisee take on a second store nearby.

If, however, the franchisee is not seen in a favorable light, or cannot/will not make the investment, then CP will move quickly to set up a company store, if they can get a favorable lease.

The internet is your friend

Fortuner Specs

And you would have no exclusivity with 7-11 for you area, meaning 7-11 could open another location within close proximity.

My understanding of the company's policy is to allow a franchise to open in a new area to establish the brand - then if it does well 7-11 look to open there own store in the same location. In Pattaya and Bangkok you will see 7-11 and the other names close to each other where both franchise and company owned stores are being run in competition. Location is everything - and as the poster above states if you can lay claim to the land that is attractive to these stores you are onto a winner.

Not entirely correct Cuban.

7-11 has in mind a "capacity" for a store, somewhere in the neighborhood of 2.5mm baht per month of sales (though this can vary based on the size of the store, number of registers, etc.). Once the store begins to exceed capacity, then they look to open another store nearby. The idea being that once capacity is exceeded, then customer service will suffer and people will go elsewhere.

A good example is the two shops literally across the street from each other on Asok, just norht of the Grand Millenium. The shop on the west side of Asok, a franchise, does better than 3mm amonth, while the company owned store on the east side does about 2.5mm baht per month. Both are very busy, and very profitable. Would not surprise me if 7-11 would look to open another shop nearby soon.

One the other hand, the shop on Suk Soi 23 does better than 4mm a month. 7-11 would love to open another location nearby, but cannot get a lease.

Are there people here who are running a 7-Eleven convenience store? I am looking into the options of opening a store with my wife. I've read on the company's website the franchise fees and startup costs should be between one and three million baht, which seems reasonably on par with what it would cost to start a small(ish) business to original concept.

I am wondering about returns though. After paying all the bills and taxes, how much are you really left with? I am by no means looking for a 'get rich quick' scheme, but considering the investment, I would hope to make a reasonable living. Would it be possible to make, say, upwards of 100,000 THB a month from an average 7-Eleven?

I find it pretty difficult coming up with a 'guesstimate' based on the 7-Elevens close to my home. I know they're doing alright though. I'm gonna have myself a chat with some local owners soon, and perhaps sign up for one of the info meetings if I'm liking what I'm hearing. Thought I'd try for info here first though.

The "Type B" franchise, which requires 1.5MM baht investment, will earn the franchisee between 20k-30k baht per month, and no more, based on meeting specific target results. You are essentiall buying a job as a manager in this scheme, and no more.

The "Type C" franchise, with a 3MM baht investment (and you also provide the location, owned or leased) pays 7-11 44% of gross margin, with the franchisee keeping 56%. Depending on your location, you COULD make a decent return, but it is far from guaranteed. And you would have no exclusivity with 7-11 for you area, meaning 7-11 could open another location within close proximity.

Rchapstick,

I was wondering where you got your info from. Is this info available to anyone? Once you come up with the franchise fee and are in business for awhile can it be sold or are you on a time limit ?(you buy the franchise for a set amount of time then can renew the contract) I tried to get some info by e-mailing the 7=11 franchise person but did not receive a reply. Also, if the average 7-11 makes 20 to 30,000 bht per month does that include paying someone to manage it or would the owner have to work the store? Any hinfo you might be able to give me would be helpful. Thanks.

My GF looked at 7-11 before deciding to pursue another buisness start-up. I sat in on the presentation with her ... it was all in Thai but easy to decifer (with some help from the GF after translating the important bits).

To your questions:

• We did not get inot the contractual obligations per se, but it is my understanding that a Thai corporation can own a franchise, and as such the franchise could be sold. The contract is for 9 years. I would also suspect that the 7-11 could veto an ownership transfer if they did not approve of the new franchisee.
  
• A "Type B" franchise can only make between 20k-30k. For a "Type C" there is no upside or downside limitation. The franchisee would be considered the manager, so if you farmed out the job to someone else, then your return would diminish accordingly.
  

Let me know if you have other questions.

Thank you for the reply. It seems that if you have someone mange the store for you at the going rete for 7-11 manager of 15000 if they assume the owners duties that it would leave a paltry 15000 income in the best of circumstances. At worst you might break even. Not a good return on a 1.5 million baht investment Then there is the head ache of worrying about whether your employees, including the manager, are ripping you off. You could run the store yourself but if you are not Thai you can't even pour a cup of coffee for a customer. There has to be a better way to make a decent living there. n

Just to clarify, for the Type "B", the 1.5 million is not what is really "at risk". of the 1.5M, 0.5M is for the franchise fee and related start-up costs, and 1.0M is for a working capital account (0.5M inventory, 0.5M other WC) that is returned to the shareholders at the end of the contract.

My impression fo the Type "B" franchise is this is the sort of thing some Hi-So guy would buy for his wayard kid to teach them responsibility, and to give them a managerial job. It is a lousy return on investment, but a cheap way to help junior with a bit of resume building. As a legit buisness opportunity, only Type "C" would quality, and only in a superb location.

Are there people here who are running a 7-Eleven convenience store? I am looking into the options of opening a store with my wife. I've read on the company's website the franchise fees and startup costs should be between one and three million baht, which seems reasonably on par with what it would cost to start a small(ish) business to original concept.

I am wondering about returns though. After paying all the bills and taxes, how much are you really left with? I am by no means looking for a 'get rich quick' scheme, but considering the investment, I would hope to make a reasonable living. Would it be possible to make, say, upwards of 100,000 THB a month from an average 7-Eleven?

I find it pretty difficult coming up with a 'guesstimate' based on the 7-Elevens close to my home. I know they're doing alright though. I'm gonna have myself a chat with some local owners soon, and perhaps sign up for one of the info meetings if I'm liking what I'm hearing. Thought I'd try for info here first though.

The "Type B" franchise, which requires 1.5MM baht investment, will earn the franchisee between 20k-30k baht per month, and no more, based on meeting specific target results. You are essentiall buying a job as a manager in this scheme, and no more.

The "Type C" franchise, with a 3MM baht investment (and you also provide the location, owned or leased) pays 7-11 44% of gross margin, with the franchisee keeping 56%. Depending on your location, you COULD make a decent return, but it is far from guaranteed. And you would have no exclusivity with 7-11 for you area, meaning 7-11 could open another location within close proximity.

Rchapstick,

I was wondering where you got your info from. Is this info available to anyone? Once you come up with the franchise fee and are in business for awhile can it be sold or are you on a time limit ?(you buy the franchise for a set amount of time then can renew the contract) I tried to get some info by e-mailing the 7=11 franchise person but did not receive a reply. Also, if the average 7-11 makes 20 to 30,000 bht per month does that include paying someone to manage it or would the owner have to work the store? Any hinfo you might be able to give me would be helpful. Thanks.

My GF looked at 7-11 before deciding to pursue another buisness start-up. I sat in on the presentation with her ... it was all in Thai but easy to decifer (with some help from the GF after translating the important bits).

To your questions:

• We did not get inot the contractual obligations per se, but it is my understanding that a Thai corporation can own a franchise, and as such the franchise could be sold. The contract is for 9 years. I would also suspect that the 7-11 could veto an ownership transfer if they did not approve of the new franchisee.
  
• A "Type B" franchise can only make between 20k-30k. For a "Type C" there is no upside or downside limitation. The franchisee would be considered the manager, so if you farmed out the job to someone else, then your return would diminish accordingly.
  

Let me know if you have other questions.

Are there people here who are running a 7-Eleven convenience store? I am looking into the options of opening a store with my wife. I've read on the company's website the franchise fees and startup costs should be between one and three million baht, which seems reasonably on par with what it would cost to start a small(ish) business to original concept.

I am wondering about returns though. After paying all the bills and taxes, how much are you really left with? I am by no means looking for a 'get rich quick' scheme, but considering the investment, I would hope to make a reasonable living. Would it be possible to make, say, upwards of 100,000 THB a month from an average 7-Eleven?

I find it pretty difficult coming up with a 'guesstimate' based on the 7-Elevens close to my home. I know they're doing alright though. I'm gonna have myself a chat with some local owners soon, and perhaps sign up for one of the info meetings if I'm liking what I'm hearing. Thought I'd try for info here first though.

The "Type B" franchise, which requires 1.5MM baht investment, will earn the franchisee between 20k-30k baht per month, and no more, based on meeting specific target results. You are essentiall buying a job as a manager in this scheme, and no more.

The "Type C" franchise, with a 3MM baht investment (and you also provide the location, owned or leased) pays 7-11 44% of gross margin, with the franchisee keeping 56%. Depending on your location, you COULD make a decent return, but it is far from guaranteed. And you would have no exclusivity with 7-11 for you area, meaning 7-11 could open another location within close proximity.

Corporate structures

Sole trader; Everything in your name, total liability, All the profits go to you. Only pay personal tax on the profit declared.

Limited Partnership; 2 or more partners, unlimited liabilities for the debts of your partners, similar tax to sole trader more complex accounting.

Company; Currently 7 share holders needed (soon to be 3) limited liability to the paid up capital. Tax rates just changed, but you pay tax on the money you pay yourself.

As said above get advise for your lady's situation. She may be better off as a sole trader.

Thanks for your help. Yes, she plans to pay for and talk with a lawyer about this, but I find it is usually best to have some idea what one's options are going into such a meeting. This is exactly the level of detail I was looking for.

WRT other points made above, she most certainly does have a business plan, which I have been helping her craft and refine, and it is in very good shape at this point (detailed financial plans and scenarios, strategic plan, competitive analysis, likely competitive responses, political plan .... the whole 9 yards). I've helped her frame the plan, but she has really put together the analysis and thought it thru well. Again, she (and I) are not looking for "free" legal advise, just a basic understanding of what her options are, and directionally what the implications of those options are.

I suspect Sunbelt is probably the wrong choice to advise her on this, as they seem to be focused on expats and not locals, and are probably priced accordingly. Does anyone have recommendations for firms serving Thai SME's?

My GF is in the process of setting up her own business, with her own money, and I have been helping with some general business advice. But she asked a question that I do not know how to answer.

Is it better to set up as a limited partnership or as a corporation? What are the tax and/or liability advantages with either structure. Are there other issues to consider?

As background, this will be a retailing business, with about 1mm baht capitalization. She will be running the show, with her brother as an employee. Presumably, the brother and/or another family memeber could be listed as very minor shareholders.

She wants to do this legitimately. Anyone with ideas, or potential contacts for basic advice on this?

IF the OP has sleep apnea, then the snoring should be the least of his concerns. It can literally kill you (google Reggie White, former professional American Footballer, died at 40). Your weight can cause sleep apnea, but not always.

CPAP is the best treatment, but an admitted PITA. For some, surgery works. But for others it doesn't not work.

Best to get the sleep study done. And BTW, the study is not a treatment, but rather a diagnostic tool. CPAP, surgery, mouthguards, etc are treatment.

Try this link http://mapcenter.cgpsmapper.com/catalogue.php?country=210

Free maps compiled by gps enthusiasts. Better value than the commercial maps, especially if you're just visiting.

Bad link

HEADS UP

I brought two of these for flights on the 24th April, the tickets cost 9900 Baht when taxes and fuel surcharges were allowed for etc. but have just recently had to cancel due to medical reasons.

When I finally got through to the airline they told me that they will not grant refunds on these tickets, despite there never being any mention anywhere of this policy.

In fact their own website states that refunds are available and that you can cancel bookings provided that you give advance notice (which i have done). Of course there is a penalty fee for refunds of THB 1200 per ticket (as it states on my e-ticket), and Im fine with that.

However they insist "no refunds".

I have given serious consideration to lodging a complaint to the DTI under the 1990 consumer protection act, although I doubt that it will do much good but I feel that I have to do something. I can't just let it lie.

Any advice or insights anyone can offer?

If you used a credit card:

1. Print out the page allowing for 1200 baht refunds

2. Contest the charge with the credit card issuer, and provide them witht he documentation from step 1

I usually take an Ambien and sleep the whole way. That way I don't notice the ancient UA Trolley Dollys.

I travel about the same and I use United, for the following reasons:

1. Once you hit 25,000 miles in a calendar year, you become "Premier" which gives you access to Economy Plus (with about 3 more inches of legroom) and a 25% mileage bonus.

2. Once you hit 50,000 miles, you get a 100% mileage bonus. So those 60,000 FF miles per year are now 120,000 miles. And you get business class lounge access on your international flights.

3. Currently, a free ticket in 60,000 miles in coach, 90,000 in business. You only pay taxes on the free ticket, no fuel surcharges.

4. FF award ticket redemptions are never easy on any airline, but with United you can also book Star Alliance airlines as well as United for your freebies.

Speak to the service manager and ask him to explain. If he does not immediately refund the 3000 baht, explain that you will be disputing the charge, AND you will writing to Nissan corporate offices (Thailand and Japan) to resolve the issue if he is not willing to do so.

BKK = Swampypoon

If BKK is Suwannaphum, what's the code of Don Muang?

DMK = Don Muang

this flight is out of which airport?

BKK = Swampypoon

Talked to a VC about this recently, thinking that Moore's Law would drive down prices over time.

The problem is that the semiconductor manufacturing capacity (current and projected, worldwide) is sold our for at least 18 months. No reason for manufacturers to decrease prices.

Beyond that, price reductions (less likely) and conversion rate increases (more likely) are possible.

Again, I do not know the process in full, but my understanding is that FM and CP require their franchisees to set up as limited partnerships, and not corporations. So no non-thai's allowed. And you may be right that while they may prefer a partnership, a Thai corp is OK and thus minority foreign ownership is ok.

GF's english is good, but not that good for me to decifer legalese.

One of these days I'll sit down with her and translate the relevant docs to share here. Seems like there is lots of interest.

According to the GF, CP and Family Mart will not allow the 51/49 structure. Must be 100% Thai.

Have no reason to doubt her, as she is interested in doing it with 100% of her money. I just asked the question.

Perhaps one could get around it by not telling CP or FM, but I am not sure of the process.