Is It Time to Pull the Plug

[1FinickyOne]

3 hours ago, tandor said:

your Superman Breakfast lives on in my belly forever.

somehow that doesn't sound like a good thing. 

[nemo38]

Sorry to hear about your troubles. Get out now. 

 

Look at the conditions countries have set for lifting restrictions. They can not be fulfilled. They want to get infections down to zero, when this covid is only as dangerous as a flu.

 

This will go on for years.

 

[Bigz]

Can you mothball the guesthouse? Do you rent or own the place? If renting I would pull the plug. If owning it just close down the place 'till the storm is over. Unfortunately you'll have to let the staff go for now but you are not a charity. It will also give you some time to prepare with a decent website and other stuff when the tourists are back on. Don't listen to all the negative stuff. Tourists will be back in greater numbers than ever but it could take a couple of years and will be very different. More Chinese and Indian individual travellers will come when covid is over and they will have different expectations from the westerners.

[The Theory]

The world is changing more frequently in 21st century due to many different reasons. Try to adapt yourself and learn to do so in any future up coming cases. 

[opalred]

people should  remember/ the locals will give you a smile when you start a business but inside there is resentment to a farang coming into there area they will still smile as you go broke /50yrs ago they were happy to accept /Malaysia is worse 

now go back to your hometown when an Asian came in and started a business /you gave him a smile but deep down you hated it /people will denier it but it is true

[Captain Monday]

10 hours ago, BritManToo said:

Good luck with that one!

Always thought I would give it to my best Thai friend anyway, Thai will.

"Never invest anything in Thailand you cant afford to lose"

 

Funny but nobody ever warned me  they wouldn't let me in the country.

Thailand will soon be half-overrun with Chinese and other Asians they will be buying.

covid-19 is just a thin end of the wedge. A fine excuse accomplishing what hundred of years

of wars, colonialism and unfair rules couldn't.  The complete elimination of western influence in Thailand.

 

[tandor]

6 hours ago, Keyser Soze666 said:

Do you. I think it's utterly laughable. So let's agree to disagree.

no.

[tandor]

2 hours ago, kenk24 said:

somehow that doesn't sound like a good thing. 

..it made an impact on me and impressed me and my digestive system..i think you get the idea.

[1FinickyOne]

40 minutes ago, tandor said:

..it made an impact on me and impressed me and my digestive system..i think you get the idea.

Funny wording but it did make me curious

[pookondee]

1 hour ago, Captain Monday said:

Always thought I would give it to my best Thai friend anyway, Thai will.

"Never invest anything in Thailand you cant afford to lose"

 

Funny but nobody ever warned me  they wouldn't let me in the country.

Thailand will soon be half-overrun with Chinese and other Asians they will be buying.

covid-19 is just a thin end of the wedge. A fine excuse accomplishing what hundred of years

of wars, colonialism and unfair rules couldn't.  The complete elimination of western influence in Thailand.

 

Indeed.

But this Covid has got a special prize for EVERY government in the world.

 

Australia for example, has always had the big sหits with its people leaving and taking $AU out of the country.

 

Covid..Bingo..

Now they can chase every possible Aussie back home.

and suprise suprise, Victoria will be closed forever now..

so convenient when Melbourne airport is your major international hub.

 

Well it wont change anytime soon as people are just to gutless to force a stop of this over-reaction BS.

Thais are even worse as far as laying ovrr goes.

 

Make no midstake, they will have us all living in our bedrooms soon enough,

until people start rioting.

 

 

Maybe "having A life matters" might be applicable.

[hugocnx]

5 hours ago, OneMoreFarang said:

Do you own it?

Would it be possible it close it down and maybe reopen it in a year?

I know that is not what you want but maybe that is a possibility. If you "pause" it then you can later decide if you press play or stop.

Agree, specially because OP writes it is like home for him. Is he living in the same building, owned or not? If so he has a place to live and with possible some income from pension, etc. he might survive, supposing there is no payroll.

Worth hanging on as; when biz gets back many of the competition has gone and the good times van come back again.

But Gonzo, age is a factor too. Might be time for you to stop altogether, dunno.

Edited July 23, 2020 by hugocnx

[Ron jeremy]

4 hours ago, RichardColeman said:

I have seen a huge boom in businesses for sale in the tourist sector appearing on my fb now. Issue is not so much selling it and moving on, as actually being able to sell it at a reasonable price

The perfect storm has descended , there are simply thousands and thousands too many rental accomadations  in Thailand, then covid, good luck giving it away, sorry for the news, but if your on the forum looking for advice, u already know the answer. 

Best of luck. Cut your losses and run.

[johnray]

Turn it into a Thai restaurant and forget all the fancy <deleted>.

[sammieuk1]

You could ask Prayut tomorrow as he is in Chiang Mai why is he making a catastrophe out of a crisis and wrecking what's left of tourism????

 

[khunPer]

On 7/22/2020 at 10:23 AM, Gonzo the Face said:

Guesthouses in Chiang Mai have been renting rooms to tourists and trekkers for how many years 75?, 100?, but then the government says guesthouses can no longer do nightly rentals, and stopped me from doing so. ..... Then you cannot sell beer and alcohol any longer....

Isn't it because you need to obtain a Hotel License, and also a license to sell alcohol?

I've read news articles about the hotel license being enforced, but a law fim should probably be able to do that job for you. I can see on Google-search that some Thai lawyers offers that service.

The Covid-19 crisis have hit many hard, but it could (just) be a case of surviving till beginning of next year, then things might begin slowly to normalize. Meanwhile it could be the right time to get legally organized and ready for a come back...????

[Gonzo the Face]

On 7/23/2020 at 8:27 AM, khunPer said:

Isn't it because you need to obtain a Hotel License, and also a license to sell alcohol?

I've read news articles about the hotel license being enforced, but a law fim should probably be able to do that job for you. I can see on Google-search that some Thai lawyers offers that service.

The Covid-19 crisis have hit many hard, but it could (just) be a case of surviving till beginning of next year, then things might begin slowly to normalize. Meanwhile it could be the right time to get legally organized and ready for a come back...????

With regard to the above.... thats partially correct.   Its like a car and a truck.   they will both transport you from one place to another, but the rules to put each on the road are vastly different.  

Other than that, I have read all thru the responses and posts, and do greatly appreciate all those who took the time to offer their thoughts and opinions.  Thank You

[jimgilly]

Really shouldn't be that difficult of a decision.  If you're not making any money (and maybe losing some) and it's not enjoyable enough staying open for the little business you get, then move on. 

 

Question is do you stay in unhealthy CM with it's horrible annual pollution or find a better location and just take it easy for the remaining time you've got left on this wacko planet we live? That should be your bigger decision.

[beau thai]

2 hours ago, Gonzo the Face said:

With regard to the above.... thats partially correct.   Its like a car and a truck.   they will both transport you from one place to another, but the rules to put each on the road are vastly different.  

Other than that, I have read all thru the responses and posts, and do greatly appreciate all those who took the time to offer their thoughts and opinions.  Thank You

It looks as though the tourist situation will not change for a while John.

Seems to me that either its time to  move on, or focus solely on the restaurant-for breakfast, lunch,dinner and deliveries. These days you may need daily specials, active social media promotion, a new menu and to promote your freezer specials for take out as well.

 

But if that is all too tiresome, maybe call it quits before it drags you down further. Best wishes, whatever you decide.

[Jack Hna]

I think the OP is fretting way to early.

 

Let's look at it realistically.

 

25 years in business

 

24 years viable

 

If it was teetering on the brink in those last 24 where's the backstory.

 

Guys worried about his pile of Inheritance for the wife.

 

Nice.

 

I'm hearing words like prime location.

 

You basically have the same problem as every other business in your sector.

 

It's a blip, calm down take a rest write off the next 12 months and if you, and you should btw, have a sound financial footing for at least 18 months after the next 12 (reserves) and still have a decent amount to leave the wife after factoring the above.

 

Ride it out.

[hmficc]

Didn’t you go through this agony eight years ago?

[opalred]

still waiting after 16years to see anyone make money /or there fortune here

met a lot that lost a fortune

[Teak]

Tough decision... My friend has a guest house out in Hang Dong. His own large house, filled with antiques and his (Canadian) mothers inherited 'stuff'. A half dozen teak cottages he rents out. A single Dad with a Thai daughter, just past dependent years, so his yearly visa goes up. No clients. His guest house has been working for 20 years. A year ago his value was substantial. Now impossible to sell. No where to go, but back to a home country with no connections and past working age. If he leaves his possessions until the tourists return  (?) they will be looted. He pays B. 800,00 to simply stay and guard his possessions. 

Stuck between a rock and a hard place.  

[Susco]

22 minutes ago, Teak said:

Tough decision... My friend has a guest house out in Hang Dong. His own large house, filled with antiques and his (Canadian) mothers inherited 'stuff'. A half dozen teak cottages he rents out. A single Dad with a Thai daughter, just past dependent years, so his yearly visa goes up. No clients. His guest house has been working for 20 years. A year ago his value was substantial. Now impossible to sell. No where to go, but back to a home country with no connections and past working age. If he leaves his possessions until the tourists return  (?) they will be looted. He pays B. 800,00 to simply stay and guard his possessions. 

Stuck between a rock and a hard place.  

What he pays 800K for?

 

Is it for his retirement extension, while running a business?

[BritManToo]

On 7/24/2020 at 8:08 PM, Jack Hna said:

I'm hearing words like prime location.

Not true, it's way outside the main tourist areas.

No passing traffic at all, apart from Thais commuting to work.

I stopped once and looked at a menu, I couldn't afford to eat there.

[LivinLOS]

On 7/22/2020 at 9:23 AM, Gonzo the Face said:

Being unable to have a beer or glass of wine with ones meal also hurts the food business.  We used to have a number of church groups come by for breakfast and have a spot for their weekly discussions and meetings.

The Church groups start drinking at breakfast ?? I may be converted !!! 

 

????

Good luck whatever you decide, next bounce into town will try to drop in for lunch. 

[LivinLOS]

On 7/23/2020 at 9:45 AM, RichardColeman said:

I have seen a huge boom in businesses for sale in the tourist sector appearing on my fb now. Issue is not so much selling it and moving on, as actually being able to sell it at a reasonable price

Not to be kick a man while hes down, but what is the reasonable price for a business that doesnt make money. 

Its fixed assets and hope, not a going concern. 

I was just on Samui, theres not 10s of 1000s of rental villa units, purchased I assume as a kind of trophy income asset and part time pleasure use return. Take away the income factor and what are these things worth ?? One villa I enquired about, already heavily discounted, the owner who had 8 or so others was trying to convince himself that tourism would be back full swing by oct nov, I asked 'but what if it lasts past high season' (which I am now convinced it will as restricted travel) and he was simply 'that doesnt even bear thinking about'.. Come feb, theres going to be so many of those kind of units for sale everywhere. 

[LivinLOS]

On 7/23/2020 at 4:27 PM, khunPer said:

Isn't it because you need to obtain a Hotel License, and also a license to sell alcohol?

I've read news articles about the hotel license being enforced, but a law fim should probably be able to do that job for you. I can see on Google-search that some Thai lawyers offers that service.

The building needs to be ground up designed as a hotel.. foyer, fire escapes, railings set heights, etc etc.. 

They have retrofitted hotel rules which are impossible to economically impose, on a guesthouse industry that existed and created tourist Thailand over decades, very unfair. While at the same time turning a blind eye to the nightly villa rentals and airbnb accommodation which has the exact same lack of license. Guesthouse is easier to see !! I do note that registered Homestays are exempt, maybe a loophole there. 

[LivinLOS]

4 hours ago, BritManToo said:

I stopped once and looked at a menu, I couldn't afford to eat there.

Damn that must be rough... Pun Pun was cheap feeds.. 

[Teak]

7 hours ago, Susco said:

What he pays 800K for?

 

Is it for his retirement extension, while running a business?

No...he was the sole provider for his daughter. The extended Thai family ran the G.H. The daughter owned it. The daughter just came of age. It was his retirement goal. He now must apply for a retirement visa with no income and no value in his property. He spent 20 years supporting a Thai family and expecting to eventually 'cash in' on his 20 year investment.  My own 1/2 Thai daughter is now 25 and wants to buy me a house (farm) in Thailand. She can own the land, but my body may not be able to stay there.... The bloom is no longer there as the original poster posed the question. 

[BritManToo]

32 minutes ago, Teak said:

He now must apply for a retirement visa with no income and no value in his property.

He would have been better keeping the money in his bank.

Money in the bank gives you options, money in a property is dead money.

 

Supporting a family (beyond your own kids until end of schooling), why would you do that?

Edited July 26, 2020 by BritManToo