Thinking of starting a restaurant????

[mattskii89]

So I’ve noticed the local Bangkok market seems to be heavily in need of more Mexican places, it’s way to damn expensive and the quality seems to vary wildly. 

 

So ive been kicking around the idea of seeing if I can get a chain style place together as a concept for now based around the likes of chipotle qudoba or something similar. The goal would be for kind of a healthier fast food probably in the target range of 250 bhat per burrito.

 

Anyone have experience starting a restaurant in Thailand have some pointers? Perhaps could point me in the direction of a local consulting agency?

 

I do not have experience in the restaurant business, if I go forward this would be my first foray.

 

My experience back state side is mostly based around Martime industries, I own and operate a commercial fishing boat and am a minority share holder in both marine jet company and fish processing company, along with other personal investments so I’m not new to the business world, but this is just a fun idea and I need a project in Thailand, I’m getting stir crazy!

 

legally I would probably just put everything in my girlfriend of 2 years name just to keep things simple, if it turned into a real money maker I would form a business in my name but that’s probably a fair way down the road if ever ????‍♂️

 

Thanks

[kellersphuket]

17 minutes ago, mattskii89 said:

legally I would probably just put everything in my girlfriend of 2 years name just to keep things simple

why not keep things even simpler and just give me the money instead????

This sounds like a complete lose lose situation.

 

Think about it very seriously before you part with any cash here. 

Edited September 12, 2019 by kellersphuket

[mattskii89]

It’s not like I’m buying the land, I doubt I would have over 3 million into it to get going ?????

[Crossy]

50 minutes ago, mattskii89 said:

I do not have experience in the restaurant business, if I go forward this would be my first foray.

 

With zero experience I would avoid, restaurants are very hard work and can take a long time to enter a positive cashflow.

 

I'll share the cash with @kellersphuket we can offer it a very good home.

[kellersphuket]

6 minutes ago, mattskii89 said:

It’s not like I’m buying the land, I doubt I would have over 3 million into it to get going ?????

It's up to you bro.

If you wanna sink however much money you have into a notoriously difficult business then be my guest. 

In Thailand, restaurants are one of the main types of establishments that regularly close after 12 months. You will struggle to break even for at least the first two years. Prepare to lose money every month in your first year at the very least.

 

For every successful restaurant there are 10 that don't make it.

You can basically double those odds when starting out in Thailand.

[CharlieH]

Why not just get a franchise and put it where there isnt one.

 

At least you'd have a brand name to ride on and be sure of customers too.

[faraday]

3 minutes ago, CharlieH said:

Why not just get a franchise and put it where there isnt one.

 

At least you'd have a brand name to ride on and be sure of customers too.

Charlie, I sincerely hope you don't mean:

 

"where the sun don't shine"

[worgeordie]

1 hour ago, mattskii89 said:

I do not have experience in the restaurant business

I would be hard enough in your own country,here just forget it.

regards Worgeordie

[JonBreadMan]

Be easier to sort out Brexit than run a restaurant for the first time in Bangkok. 

[riclag]

Start a la na han in your own country to get experience first! Then after a few years you can come back here and try your luck! First rule must have  

Working capital

Second, find reliable help

Third,prepare to loose money your first year

[bkk6060]

So, will you have a Mex. restaurant here without the favorite staple of many who know Mexican food, guacamole?  Because that is what they say along with some other ingredients here "not have" as avocados in these owners minds are too expensive.

I just make my own now much better made some beef tacos the other night puts the junk here to shame.

Good luck hope you do it right but the Mex. food here is mostly <deleted> due to cheapness.

 

PS:  Indian and Chinese restaurants are the future of this place so think about it.

[PatOngo]

Only invest as much as you can afford to lose!

[luk AJ]

As with everything, success is reserved for the very best. Meaning; good management, good food, determined, original etc..looking at the profile of the OP, he has proven in the past he can get things done. The problem is you have to rely heavily on a good cook. Once the restaurant becomes successful, the extra salary or even profit sharing will be a demand. I have seen this before.
The idea of a franchise as CharlieH suggested is a safer bet.
While 20y ago expensive western restaurants were mainly visited by expats, today the majority of the customers are Thai. There is a clear shift so why not consider?
I am afraid though that you might underestimate the workload.
Good luck!


Sent from my iPhone using Thaivisa Connect

[cornishcarlos]

Our restaurant has now been open for 4 months. We are not in a city and we don't rent the property. Last month it turned over 150k with a profit of 4.8k ???? We don't expect to make any serious profit for at least a year and even then it will only be enough to cover living expenses etc. We have 6 staff (aka 6 headaches) but have just built a bigger kitchen and had to extend the parking to accommodate weekend traffic. It's not easy and will definitely be harder in Bangkok.

I wouldn't attempt it if renting property to open the business that's for sure !!!

[Destiny1990]

Gosh another foreigner about to become a millionaire soon  in Thailand.

Why haven’t I thought about my own chain of healthy burito shops here.

[mattskii89]

22 minutes ago, luk AJ said:

As with everything, success is reserved for the very best. Meaning; good management, good food, determined, original etc..looking at the profile of the OP, he has proven in the past he can get things done. The problem is you have to rely heavily on a good cook. Once the restaurant becomes successful, the extra salary or even profit sharing will be a demand. I have seen this before.
The idea of a franchise as CharlieH suggested is a safer bet.
While 20y ago expensive western restaurants were mainly visited by expats, today the majority of the customers are Thai. There is a clear shift so why not consider?
I am afraid though that you might underestimate the workload.
Good luck!


Sent from my iPhone using Thaivisa Connect

Well hopefully the cooking would get down to more of a science and multiple people could be proficiently trained. Nothing is made to order in an establishment like I’m talking about, it’s much akin to fast food, I doubt profit sharing would be in order, I don’t plan on paying bear minimum wages out the door ether.

And I am not trying to become a franchise owner, buying myself a second or third job doesn’t sound super appealing for the long term, I can put some time into it now for a couple years at most. if it doesn’t make enough money to justify opening another one and hiring upper management staff it’s not worth my time, I have other things to do.   

 

Kellerphuket, I imagine the failure rate is high because people try for one of places with made to order food. Taking a fast food esq equation that’s worked state side extremely well and adapting it to thialand has to be easier then making your own one off, at least I would hope 

 

Riclag, I’m from the states, it’s an extremely developed food scene with a far far higher buy in, I have no want or need to spend 20 grand a month on rent and then pay my employs 15 an hour out the door with more competition then I know what to do with. I see a specific deficiency in a local market, I bet exploiting would be profitable before western franchises move in. The idea has been well crafted stateside, it just an issue of how well can I copy it.

 

bkk6060, I plan on having guac, and there is a huge dam and for all types of food in Thailand, most world cities are scattered with a ton of different types of food.

 

And destiny1990 I am not coming here to become a millionaire 

[Kwasaki]

3 hours ago, mattskii89 said:

Thinking of starting a restaurant.

That's become a joke with my Mrs and me.

[EbhB]

Start a specialized service selling some luxury product to Bangkok residents, delivered by Grab or something.

 

That way you could produce something like hand-pressed juice or some health-product, selling to loaded thais - but it has to be seriously convenient, probably ordering & paying on Line is key.

 

If you're able to get that off the ground, it could even scale - and the sunken cost if it collapses is FAR lower than anything like a restaurant...