Looking for advice

[rab2k10]

Hi there i am posting this for a family member of mine 

he has been over to bangkok a few times now he has also been dateing the same girl for a while now as well

when he was last over the girl  showed him a shop for rent and  they came up with the idea of opening a super market  ie like 7 11 shops etc

but the problem he has is he has no clue about what to do etc   so my qeustions are  would he need to put everything in  his girlfriends name ?

as he is still liveing in the uk but would be going backward and forwards every two months . dose he need a special licence to open  a super market  ?

also can he open a bank account in bangkok  so his girlfriend can pay the money in everyweek from what the shop makes?

is there any bussniess rates to pay on the shops like there is in the uk ?  and my last question  is there anyway u can get something in writeing  to stop the girl from   takeing everything off my family member and tell him to do one etc   as we have all heard the horrer stories lol 

thank u for the time for reading this and look forward to everyone replays   

[CanuckThai]

Read a few threads about "sponsoring or financing" a girlfriends business in Thailand.  Make sure you (and your friend) are sitting down, and have a box of tissues close by.  It's not pretty...

[CharlieH]

Suitable visa and a work permit would be required. If he continues any activity in that business on a "tourist" visa he is breaking the law. 

You need to do a mountain of fact find and research to do it properly its not as easy as you may think.

 

 

[rab2k10]

canuckthai do u happen to have any links please as i am scrolling right threw there forum for advice cheers 

[rab2k10]

hey charlie i thought he would need all that its just the other stuff we are totaly unsure about    i am seeing people say u can own 40% of the company  and the other 60% need to be owned by thai ??

[CharlieH]

The next time he is in Thailand he should consult a lawyer and get correct advice from the horses mouth. He will give current requirements and guide through the process. Look for recommendations as its easy to get fleeced in the process.

 

To my knowledge its 49% and 51% Thai. Also if not married there has to be 4 thais employed.

 

I am sure some more knowledgeable  members on this will contribute shortly.

 

 

[CanuckThai]

10 minutes ago, rab2k10 said:

canuckthai do u happen to have any links please as i am scrolling right threw there forum for advice cheers 

Hey Rab2k10, 

I'm by no way an authority on the subject, but Thailand is a different animal.  Involving Thai's and financial matters can end up being a turbulent and heartbreaking experience (for the foreigner) with little or no protection/recourse.  You'll find plenty of examples on here of the good, the bad and the ugly.   Good luck to your buddy.  I'll send a PM with a few links

 

[scorecard]

Have you done any research of the local area in terms of customers who will buy at a convenience store (rather than a local market / mom&pop shop), how many folks have cash flow to regularly buy, etc. How many convenience stores already exist in the area? Do they look like they are busy or just surviving?

 

Very very important to check all of this first. 

 

Also very important to construct a business plan in terms of what products will sell and whether these products produce good margin etc.

 

Also important to think about some form of competitive advantage that will continuously get potential customers through your door rather than the competitions door. That doesn't need to be free giveaways.

 

Would it be worthwhile (in terms of competitive advantage and some regular commission / cash flow to the shop to accept bill payments etc? 

 

Important to have all of these items sorted before you open the door.

 

Good luck.

 

41 minutes ago, rab2k10 said:

hey charlie i thought he would need all that its just the other stuff we are totaly unsure about    i am seeing people say u can own 40% of the company  and the other 60% need to be owned by thai ??

 

The shareholding is 49% can be owned by a foreigner, at least 51% has to be owned by a Thai or several Thai. The shareholding is just numbers on an official document, there is no actual purchase of shares with funds involved. 

 

 

 

 

[swissie]

By the time the OP has done some serious homework concerning this matter, he will likely abandon this project quickly.
If your name is Toyota or Samsung Thailand is a good place to invest. The opposite is true if your name is "Mister small Farang investor". The "Red-Tape" to run a small business legally in Thailand for a Farang is mind boggeling.
- A 7/11 type store? Wanting to compete with 7/11?
- Farang flipping back and forth in 2 month intervals, leaving the management to some "trusted" Thais during his absence?
A sure-fire recipe for desaster!
There are far easier ways to lose ones money. By investing in dormant Gold-Mines in eastern Timbuktu, for example.
Sorry to say, but this has all the makings of another "horror-story".

[yogavnture]

1 hour ago, CharlieH said:

The next time he is in Thailand he should consult a lawyer and get correct advice from the horses mouth. He will give current requirements and guide through the process. Look for recommendations as its easy to get fleeced in the process.

 

To my knowledge its 49% and 51% Thai. Also if not married there has to be 4 thais employed.

 

I am sure some more knowledgeable  members on this will contribute shortly.

 

 

I believe lawyers exist in Thailand. and you are asking forum readers for advise? 

 

[CharlieH]

3 minutes ago, yogavnture said:

I believe lawyers exist in Thailand. and you are asking forum readers for advise? 

 

I have advised as such and I am not asking anyone for anything thank you.

[bartender100]

I am pretty sure you have not heard "all the horror stories" also you are taking on 7/11 and FamilyMart for a start ,

 

I bet you would have more chance with a bar, and that's saying something 

[Rc2702]

I think there is potential for a convenience store and I regularly shop at mom and pop shops and they all undercut 711 especially on beer. The problem is the Labour. You can't just go into this business and expect the other partner to be up to speed and leaving them on their own would be a mistake. Those mom and pop shops are called mom and pop for a reason. The ones that do well are normally always manned by the husband and wife. Adding a farang face to that equation- I have never seen such an operation.