Hungry hippo for sale

[Ron jeremy]

Did a quick look on baht sold, , so much opportunity at the moment, from restaurants to beer bars. 

Best get in quick, beer bar for only 1.75 million, can't go wrong. Retire with a huge income in this beautiful family resort.

[WillyPlatt]

Was never in here but they seemed to have a simple, well executed business model. Chicken dinner 139 baht etc.

Was meant to be decent and good quality.

If they can't make a go of it, i wonder who can.

Really sad, many people who have been ex pats for years with their savings and hopes invested in a business.

Will be like the property market in 2008 in the UK. One minute buoyant, six months later having to sell at a 50% discount.

That was in the suburban UK.

Even those with funny money may not want to catch a falling knife.

They will be selling property by the block.

 

[twocatsmac]

Plus 80,000 baht per month rent and a few more palms looking to be greased.

A good business though built up by a proven winner in Pattaya....

but but but, who’s crazy enough to invest in dead doggy town this year?

[scubascuba3]

He has been looking to sell it for a while like he did Robins Nest and Chunky Monkey.

 

It's probably one of the few places that make a genuine profit, it was a success as soon as he opened it. The concern for any buyer is can they be as good as Robin. CM seems to still be doing ok

[BritManToo]

You'd have to be crazy.

[jacko45k]

It has been up for sale for over 3 months, owner's heath was cited. 

Not thee first time he has sold a place either. 

[Rimmer]

Off topic post removed

[TaaSaparot]

9 hours ago, scubascuba3 said:

He has been looking to sell it for a while like he did Robins Nest and Chunky Monkey.

 

You forgot Jollys.

[Leaver]

15 hours ago, twocatsmac said:

Plus 80,000 baht per month rent and a few more palms looking to be greased.

That's a lot of 139 baht chicken dinners, then all the other overheads, not to mention recouping the cost of the lease, and the cost of the refurbishment, before you get to put 1 baht in your pocket.  

[Paul DS]

11 hours ago, jacko45k said:

It has been up for sale for over 3 months, owner's heath was cited. 

Not thee first time he has sold a place either. 

The owner has bought and sold all the time....gets it going, cheap prices etc then sells at a profit and starts again, leaving the buyer wondering what happened!

Best of luck!!

[SteveK]

They are bound to cite health reasons or something else.

Edited May 8, 2020 by SteveK

[sirineou]

19 hours ago, WillyPlatt said:

Was never in here but they seemed to have a simple, well executed business model. Chicken dinner 139 baht etc.

Was meant to be decent and good quality.

If they can't make a go of it, i wonder who can.

Cant talk to this particular business, I simply don't have enough information, but IMO it was not their business model that failed them but the change in conditions the business model was based on. changes the could not have been foreseen.That's not to say that their business model will not have failed even under the best circumstances.

But conditions will not remain the same for long so......

If one has cash, a high risk tolerance,  time,and the proper expertise in that type of investment  one can do some bargain shopping and make out pretty good. The trick is finding the bottom of that particular market. 

 

 

[VBF]

12 hours ago, jacko45k said:

It has been up for sale for over 3 months, owner's heath was cited. 

Not thee first time he has sold a place either. 

The owner himself told me back in March that he was selling for health issues.

[SteveK]

Having to earn in excess of 100k a month before you can pay yourself a wage, (and having to use your savings to prop up the business otherwise) I wouldn't be interested even if the business was free. Maybe I am just a cynic.

Edited May 8, 2020 by SteveK

[Leaver]

1 hour ago, sirineou said:

The trick is finding the bottom of that particular market. 

If you are talking about the western tourist market to Pattaya, then it may be a bottomless market.  

[WillyPlatt]

3 hours ago, SteveK said:

Having to earn in excess of 100k a month before you can pay yourself a wage, (and having to use your savings to prop up the business otherwise) I wouldn't be interested even if the business was free. Maybe I am just a cynic.

If he sets up a business, gets a good name, makes an income and then makes a few million baht, nice turn.

Unfortunately, he has hit a global pandemic. However, there are still people who need to dispose of money for various reasons.

One of my favourites was the Great American Sandwich place that shut up shop a couple of years ago.

Poor guy was working from morning to night to make a dime. Fitted out well, fixtures and fittings. Good portions and good quality. Well priced.

Thought to myself, if it doesn't work what will.

[Davo369]

When i see the head line "hungry hippo for sale" i thought bloody he'll....

Someone was selling there wife ????????

Edited May 8, 2020 by Davo369

[torturedsole]

4 hours ago, Paul DS said:

The owner has bought and sold all the time....gets it going, cheap prices etc then sells at a profit and starts again, leaving the buyer wondering what happened!

Best of luck!!

... and now trying to get rid altogether.  The owner might have left it a bit late on this occasion.

[Susco]

4 hours ago, VBF said:

The owner himself told me back in March that he was selling for health issues.

Health issues in the nett profit department?

[worgeordie]

4 hours ago, SteveK said:

They are bound to cite health reasons or something else.

Well he might have Covid 19????????

regards worgeordie

[Susco]

26 minutes ago, WillyPlatt said:

Poor guy was working from morning to night to make a dime. Fitted out well, fixtures and fittings. Good portions and good quality. Well priced.

 

I think the last 2 words were the biggest issue. When it is considered well priced for the Pattaya low lives, it isn't profitable any more.

[scubascuba3]

4 hours ago, Susco said:

 

I think the last 2 words were the biggest issue. When it is considered well priced for the Pattaya low lives, it isn't profitable any more.

Hungry Hippo is a success, a good restaurant, good food at good prices, very popular, far better than so many falang restaurants that think using falang pricing in Thailand is the way to go. Their places inevitably crash and burn where as the Hungry Hippo model will continue to work as long as any potential new owner doesn't cock up the food or prices

[shy coconut]

On 5/7/2020 at 6:22 PM, WillyPlatt said:

Was never in here but they seemed to have a simple, well executed business model. Chicken dinner 139 baht etc.

Was meant to be decent and good quality.

If they can't make a go of it, i wonder who can.

Really sad, many people who have been ex pats for years with their savings and hopes invested in a business.z

Will be like the property market in 2008 in the UK. One minute buoyant, six months later having to sell at a 50% discount.

That was in the suburban UK.

Even those with funny money may not want to catch a falling knife.

They will be selling property by the block.

 

The property market never collapsed like that in 2008, even in the early nineties with

15% interest rates the prices didn't fall by 50%.

 

*The crazy asking price may have been adjusted, people had ridiculous expectations

before the banking crash, but what you ask for and what you get are 2 different matters.

[balo]

I would pay 300k for it and give it a go.   

[kingdong]

22 hours ago, jacko45k said:

It has been up for sale for over 3 months, owner's heath was cited. 

Not thee first time he has sold a place either. 

Owners health was cited?I bet it was anyone owning a restaurant in this current climate must be sick as a parrot.

[VBF]

In response to the various sarcastic comments:

As explained to me by the owner in March this year, he does have ongoing genuine health issues. These have worsened recently and he had already planned to make HH his last venture and return to UK. Sadly he couldn't have chosen a worse time so I for one wish him luck in whatever HE chooses to do.

[SteveK]

1 hour ago, VBF said:

In response to the various sarcastic comments:

As explained to me by the owner in March this year, he does have ongoing genuine health issues. These have worsened recently and he had already planned to make HH his last venture and return to UK. Sadly he couldn't have chosen a worse time so I for one wish him luck in whatever HE chooses to do.

In that case I wish him well and hope he gets a good price for the business. Surely if he can't sell, which may be the case, he could hold on to it and employ a full time manager?

[keithsimmonds]

9 hours ago, balo said:

I would pay 300k for it and give it a go.   

Good man.  What do you expect to get for your 300k??

[losworld]

On 5/8/2020 at 12:22 AM, WillyPlatt said:

Was never in here but they seemed to have a simple, well executed business model. Chicken dinner 139 baht etc.

Was meant to be decent and good quality.

If they can't make a go of it, i wonder who can.

Really sad, many people who have been ex pats for years with their savings and hopes invested in a business.

Will be like the property market in 2008 in the UK. One minute buoyant, six months later having to sell at a 50% discount.

That was in the suburban UK.

Even those with funny money may not want to catch a falling knife.

They will be selling property by the block.

 

Good opportunity for those looking to money launder. 

[VBF]

38 minutes ago, SteveK said:

In that case I wish him well and hope he gets a good price for the business. Surely if he can't sell, which may be the case, he could hold on to it and employ a full time manager?

Don't know him well enough to comment on his possible views on that - I do know he's a canny businessman, and like you i wish him all the best.