I want to open a (cheap) (Thai) steak restaurant, any idea ?

[BigT73]

Alot of popular steak restaurants are the mookapow (sorry for crap spelling) its the diy bbq with the charcoal at your table.  I think cause of the ambience are buffet and set a fun mood for having a beer with friends and chat, they are always packed and I wouldnt say cheap compared to other Thai food.  If you are set on a steak place, focus on the kids meals,  parents will go where the kids are happy.

[seancbk]

11 hours ago, Slip said:

100 steaks a day? x 49b. That's just shy of 5000 baht a day.  30 of those and 10k pales into insignificance.  If the margins are there of course.

 

What people seem to be forgetting is it won't be 49 baht for every dish.   I would imagine there will be price points such as  49, 69, 89 for example.  Similar to how Sizzler do their pricing. 
The high priced meals often have no more meat, they increase the price with things like corn or a roast potato, so the margin on those is even higher.   

Then there are drinks.  The profit margin on coke with ice is so massive you can give free refills and still make a profit.   

The people saying it won't work have zero knowledge of the F&B business.

[stud858]

As for the business idea,  I've got a business idea kind of restaurant related.  napkins, tissues, toilet paper are all used at times and I have noticed they are always plain white. 

What if you went to the manufacturers and asked them to print English lessons,  geography lessons,  etc on the roll of paper.  Now when people walk down the shopping aisle at Big C and want to buy a few rolls,  who's will stand out? 

 

You're welcome. 

Edited July 10, 2018 by stud858

[rwill]

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.

 

[flyingfox1]

thai and chinese food is very popular here in Sweden (I am currently living here)

Where is here [emoji23] lol


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[KKr]

14 hours ago, GSFGSF said:

 

The rent will be only 10000 tb / month.

We won't spend more than this or I know that it won't be possible to have profit.

 

 

 

 

so why do something like that? Feeling charitable?
might just as well give straight to the Charity
unless the purpose is for the Charity to stay indoors.

[JAZZDOG]

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.

[Bassosa]

4 minutes ago, JAZZDOG said:

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.

Haha, 70% ROI.

 

Sure.

[GSFGSF]

3 hours ago, Andrew Dwyer said:

Seems a logical and intelligent way to go !

Somtam goes well with anything ( in Thai opinion not mine, I don’t eat it ) and I’m sure the older Thai at least prefer somtam to fries .
As for younger Thai ?, am not so sure they are as enamoured with somtam as their parents or grandparents, certainly western influence is changing youngsters diets.

To have somtam on the menu is a good option with low risk surely ?

 

Thank you, this is what I am thinking also. They all eat somtam, many foreigners also. And maybe I could teach them that somtam goes very well with fries...

 

 

 

 

[JAZZDOG]

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.

[GSFGSF]

2 hours ago, Spaniel said:

Wife and I have eaten at a few of these places here in Bangkok.    We usually order the pork steak or fish and for the price a good deal and the french fries are always outstanding.    Good luck with your venture.     

 

Thank you, but you should eat chicken, it's a lot healthier ?

But I agree that Thai like to eat fat meat also, so it's important to sell it.

 

 

 

 

[KKr]

12 hours ago, GSFGSF said:

 

No staff. The only person working at the restaurant will do everything alone, she is used to manage a shop 12 hours a day and she will do the same. If she has profit it's all for her. If no profit, no salary. As easy as this when someone knows how to deal with Thai ?

to manage a shop, apart from the common denominator square meter and having a till, has got nothing to do with a restaurant.
If you want to get customers, the location must be good, but as you  own ( i.e. likely the local manager), that is no problem, surely the manager has chosen wisely.
Then, apart from managing the restaurant, the Manager will take care of daily buying, inventory control, track freshness, find 20 Baht per portion Beef for the "Steak"..., cutting,  cooking several dishes simultaneously, serving in a more or less appetizing and polite manner, supply ice cubes and water, serve soft drinks, keep the loo acceptable, wash the tables between customers, clean foodspills from the floor,  wash the dishes and keep pots and pans hygienic enough for food preparation, change the gas tank when it runs out during peak time, collect cash from customers; remember all orders,  and take care of maintenance, and almost forgot, spend five minutes on preparing somtam per order. 
Surely glad you know how to deal with Thai.

May I ask you to post a sequel in 3 and 6 months ? and share some of the secrets how the business is doing?
If it is doing well, surely many people will want to Franchise your model.

Edited July 10, 2018 by KKr

[GSFGSF]

1 hour ago, Bassosa said:

There's good beef to be had in Thailand, even Thai beef...

 

So that would be my suggestion to the OP; before you do anything make sure you have a firm understanding of beef in Thailand. Provenance, prices, availability etc. Some of the cheaper cuts (brisket for instance) can be super nice if cooked in a certain way and served sliced. Why not experiment with 'sous vide' cooking method? It's actually a method that can really help you streamline your cooking process as the meat needs only little time on the grill once removed from the sous vide bath.

 

Thai beef is often tough but can be tenderised in a variety of ways. As mentioned before, taste is often quite good!

 

Perhaps offer the Aussie, US stuff as a premium?

 

Sides are pretty much always done very badly here (mash, veg, sauces), so there's your opportunity to set yourself apart from the rest.

Other than that I would recommend eating at all similar restaurants in your area. See what they do right and what they do wrong. It will help you formulate your offering and possibly your USP's.

Thai restaurants are good for what they are, but one thing you'll never ever get in a Thai restaurants: a caring host who wants to look after you. I sometimes go to a French restaurant with a very hands on owner. Such a breath of fresh air to have someone around that gives a sh*t whether you're having a good time or not. In Thailand, you normally get a few Thai kids hovering around your table, if they're not too busy on their phone. You've got to set the example, leave it to them and service levels will slip, no doubt.

 

Once you're trading, keep the place clean (not just the floor) to have a one-up on the competition. Be different and remove the clutter from your premises before it accumulates. 

Labour is cheap here so consider making most of the side dishes yourselves. Better margins and better quality. There's really no excuse to be lazy and use Makro for everything.

 

 

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.

 

 

 

 

 

Edited July 10, 2018 by GSFGSF

[JAZZDOG]

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.

[GSFGSF]

1 hour ago, mike324 said:

make it an unlimited salad, soup, french fries bar for 99 baht - bam! customers will be waiting at the door.

 

Seems a good idea, thank you.

 

 

[Bassosa]

 

Edited July 10, 2018 by Bassosa

[Bassosa]

3 minutes ago, Bassosa said:

Well good luck to you. I've always learnt that you need to differentiate yourself from others but what gives? You want it to be Thai, for Thai and just the usual sh*t, pardon my French. 'Same same'.

 

As long as you're cool with the Thai working hours (long) and Thai profits (slim) at the end of each day, you're going to love it!

 

Just make sure you never divide the profits (if any) by the hours worked and thus calculate your hourly wage. It might dissappoint.

 

At least at the end of a very long day you can eat some very average meat and not pay for it.

 

 

Edited July 10, 2018 by Bassosa

[GSFGSF]

57 minutes ago, seancbk said:

 

What people seem to be forgetting is it won't be 49 baht for every dish.   I would imagine there will be price points such as  49, 69, 89 for example.  Similar to how Sizzler do their pricing. 
The high priced meals often have no more meat, they increase the price with things like corn or a roast potato, so the margin on those is even higher.   

Then there are drinks.  The profit margin on coke with ice is so massive you can give free refills and still make a profit.   

The people saying it won't work have zero knowledge of the F&B business.

 

Thank you, this is all true.

 

 

[GSFGSF]

58 minutes ago, stud858 said:

As for the business idea,  I've got a business idea kind of restaurant related.  napkins, tissues, toilet paper are all used at times and I have noticed they are always plain white. 

What if you went to the manufacturers and asked them to print English lessons,  geography lessons,  etc on the roll of paper.  Now when people walk down the shopping aisle at Big C and want to buy a few rolls,  who's will stand out? 

 

You're welcome. 

 

Good idea, but maybe expensive compared to makro cheap tissue...

 

 

 

 

[JAZZDOG]

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.

[moe666]

49b steak I donot think he is targeting farangs. Have a go see what happens.

[Monkeyrobot]

If your selling a steak for 49 Baht what is your cost price, rent,electric,wages,water, plus all the other little expenses. Profit margin ??? ; good luck but I don’t see how you can make much money. 

[JAZZDOG]

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. 

[NickJ]

Not about the 49 b. That's a lost leader. People buy drinks and side dishes. Also other things.

That  being said.....tons of these places everywhere. Cheap crap bbq. So the OP wants to put a twist on it and market the slop as a US steakhouse. ....Wonderful. Why not just give out MAGA  hats.

Edited July 10, 2018 by NickJ

[catman20]

1 hour ago, Bassosa said:

That's the name of the game. You may fail once, or twice, but it's the risk takers who end up making it, not guys like you... 

You may fail once, or twice, but it's the risk takers who end up, going broke and going back home with their tail between their legs.

 

 

yer right mate you have to play the odds if you had any brains you would know in Thailand the odds are stacked well against farang here. you must be new here or not living here.

[seancbk]

22 minutes ago, GSFGSF said:

1 hour ago, mike324 said:

make it an unlimited salad, soup, french fries bar for 99 baht - bam! customers will be waiting at the door.

 

Seems a good idea, thank you.

 

Do Steak Frites - with unlimited fries and a choice of sauces.   And the 'steak' can be chicken or pork, here it doesn't have to be beef.   But make the Thais think it's done in a special French way. 

I think a great gimmick would be lots of sauces on offer.

Steak Frites with Au Poivre, Bearnaise, Bordelaise Sauce, Red Wine Sauce, Creamy Mustard Sauce

More ideas here - 10 Dipping Sauces for Frites   https://www.saveur.com/gallery/10-Dipping-Sauces-for-Frites#page-2

[seancbk]

10 minutes ago, Monkeyrobot said:

If your selling a steak for 49 Baht what is your cost price, rent,electric,wages,water, plus all the other little expenses. Profit margin ??? ; good luck but I don’t see how you can make much money. 

 

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.  

 

 

[catman20]

1 hour ago, Bassosa said:

That's the name of the game. You may fail once, or twice, but it's the risk takers who end up making it, not guys like you... 

seancbk i very surprised that you clicked like on this stupid post bearing in mind what he said about me , you knowing a little of my history and life style i live here. im hardly a loser. 

[GSFGSF]

7 minutes ago, seancbk said:

 

Do Steak Frites - with unlimited fries and a choice of sauces.   And the 'steak' can be chicken or pork, here it doesn't have to be beef.   But make the Thais think it's done in a special French way. 

I think a great gimmick would be lots of sauces on offer.

Steak Frites with Au Poivre, Bearnaise, Bordelaise Sauce, Red Wine Sauce, Creamy Mustard Sauce

More ideas here - 10 Dipping Sauces for Frites   https://www.saveur.com/gallery/10-Dipping-Sauces-for-Frites#page-2

 

Unlimited fries for people who spend a minimum is possible, but maybe not for people who spend only 49 thb.

I agree with sauces, easy to make them cheap and unlimited.

 

 

 

 

[GSFGSF]

2 minutes 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.  

 

 

 

This is a minimum. But no day off and certainly more than 100 customers a day when being opened 12 hours (by the way I forgot to explain that the reason for paying a 10000 thb rent is to be open 12 hours a day, which a street food cannot do).