Buying a Bar in Pattaya

[Thomas J]

1 hour ago, digibum said:

Only then is the bar sold for book value to an experienced bar owner who patiently waits for the next dreamer to come wandering down the Soi so he can sell the bar at 10x it’s worth again.  

You are probably right.  Businesses that have long term contracts, unique location, established long term customer base etc has some added value.  Chairs, glasses, old inventory of alcohol that didn't sell to others before, etc are scrap value.  Unless something is special, a person can always find a location, buy some beer, wine, and hard alcohol, get some glasses, and tables and put up a new bar.  The "business" is not the inventory and other assets, it is the added value that the new owner gets from buying an existing business rather than starting from scratch.  With a bar that is now closed and has been closed on an on again, off again basis for months, it is hard to see how there is much if any added value to that.  Old inventory, used tables, used glasses.  To get anything even remotely close to "book value" right now would seem to have paid too much. 

Edited May 19, 2021 by Thomas J

[MyFriend You]

On 4/16/2021 at 6:23 PM, Surelynot said:

You don't see so many of the little, brightly lit, mobile cocktail bars as you used to?....or maybe I am not going to the right places anymore

When we went on holiday to Vung Tau Beach Vietnam, we saw at least half dozen of these, some still had Thai writing on the sides.   Not many foreign tourists but they were full of Vietnamese, just changed the music.............They were money makers.

[Danderman123]

On 4/17/2021 at 10:45 PM, Pravda said:

 

How did that work out for you so far? 

 

You don't even understand Thailand forum and you want a share in mafia bar. 

 

Absolutely hilarious. 

I am not interested in assertions, I am interested in data.

 

and yes, some was posted here.

[Danderman123]

I have been subjected to endless hours of bar talk, either among different bar owners, or among owners of a single bar, and have learned a lot about the details of operating a bar.

 

The most important thing I have learned is that operating a bar is boring.

[chicowoodduck]

Good Lord....get off of your meds and take a deep breath....you are waaaay over your head....????????????

[Aarin]

No you can still not work in the bar or get a work permit through it. I know you said dont give any negative feedback but 15k a day would have been in High... no covid season. And that 15 k would have related to about 6 k in profit. I really cannot see any bar turning over 15k a day in the next 2 years. i would jyst take over a vacant premises and there are plenty and fit it out yourself . No need to buy. Start your own bar from scratch

[brianthainess]

All people I have met don't OWN a bar, they pay rent for the premises, I have never understood why people "buy" a bar, for millions, all they are buying is a few bar stools, tables, a pool table. The overheads may include rooms for 'staff' a motorbike for their transport a meal or two a day, bar rent, electric and water. I wouldn't have a bar of it.

[brianthainess]

3 hours ago, Danderman123 said:

I have been subjected to endless hours of bar talk, either among different bar owners, or among owners of a single bar, and have learned a lot about the details of operating a bar.

 

The most important thing I have learned is that operating a bar is boring.

Most 'owners' I have known end up alcoholics if they were not one before, add the stress of paying your rent+ overheads every month, seems like a recipe for disaster.

[4MyEgo]

On 4/17/2021 at 11:25 AM, Danderman123 said:

So, I am looking at purchasing a partial interest in a small bar.

 

If you can't see anything wrong with that sentence, then I can't help you.

[ronaldo0]

Check how many are for sale in the area and ask yourself why , what will it have that all the hundreds if not thousands before didn’t try and failed , key money , rent , tea money, local mafia payment , work permit cost , lawyer to do paperwork and accounts , actual profit on drinks to be low enough to attract customers but to make what you want , high season vs low season , local permanent customer potential year round . List is endless and then don’t forget if you make it successful the owner will possibly suddenly demand more rent or payments in some cases no matter what the contract you signed says . ????

[kingofthemountain]

On 5/19/2021 at 11:32 AM, scubascuba3 said:

If they manage to survive covid you are more likely to make money with them than any other samey bar

I don't think they are going to be able to stay in the game for too long now, they have been bleeding money since 1 year, and with no any end of the tunnel in sight, at some point the investissors should soon throw the towel and close the cash tap

 

The biggest mistake made by Mr Flowers was the extrem concentration of his business: 1 girlie bar model in 1 Pattaya's street 

his thinking was probably to have a sort of monopoly and to reduce the managments costs 

 

The problem is doing that you are very exposed if any problem impact your specific area and it was covid 19 (But it could have been another thing, like an enforcement of the Thai law)

 

it's the basic knowledge of any decent investissor:

always diversify your investments

you know the old saying, eggs, basket....

Edited May 23, 2021 by kingofthemountain

[BritManToo]

On 4/17/2021 at 8:25 AM, Danderman123 said:

Please don’t waste my time telling me that it’s a bad idea. 

I think it's a very good idea, you should do it.

 

Shophouse rent (just the ground floor, not including rooms above) is around 4,000bht/month. If you want the two floors above more like 10,000bht/month.

 

My pal that used to do it and made more money from bar fines than he did from selling drinks.

The best way to make money is with attractive young female staff.

Forget anywhere keeping on the older fatter ladies.

Edited May 23, 2021 by BritManToo

[kingofthemountain]

On 5/20/2021 at 2:37 PM, Danderman123 said:

I am not interested in assertions, I am interested in data.

 

and yes, some was posted here.

Can i ask you why you want to ''invest'' in a bar ?

 

i mean if it's a financial view and you really want at some point a ROI

there are better options, like the bio farming

 

On the other hand, if you want sometimes to come here

and boasting that you are one of the owner while drinking for ''free''

bio farming isn't indeed the good way to go

[Scouse123]

Buying a bar in Pattaya ib the midst of a pandemic because you think the market has bottomed?

 

Cracking idea!

 

Take no notice of any posters on Thai visa, it is all because they are jealous! It oozes out of them when someone comes up with an idea such as yours.

 

You could even look for a house or condo as well to complement it.

[Surelynot]

Just now, kingofthemountain said:

Can i ask you why you want to ''invest'' in a bar ?

The only possible reason I can think of is to launder money

[Scouse123]

6 minutes ago, BritManToo said:

I think it's a very good idea, you should do it.

 

Shophouse rent (just the ground floor, not including rooms above) is around 4,000bht/month. If you want the two floors above more like 10,000bht/month.

 

My pal that used to do it and made more money from bar fines than he did from selling drinks.

The best way to make money is with attractive young female staff.

Forget anywhere keeping on the older fatter ladies.

 

 

Are you fat shaming in these ' woke times ' It's no longer allowed.

 

Anyway, Fatties can be useful for kitchen staff, cleaners, cashiers, mia noi!,

 

[BritManToo]

Just now, Surelynot said:

The only possible reason I can think of is to launder money

....... be surrounded by prostitutes all the time.

Was another motive I identified.

[Scouse123]

1 minute ago, Surelynot said:

The only possible reason I can think of is to launder money

 

Why launder? Just walk up to the counter and put it in the bank, nobody asks where it comes from!

[Surelynot]

Just now, BritManToo said:

....... be surrounded by prostitutes all the time.

Was another motive I identified.

Didn't want to say..........????

[Surelynot]

Just now, Scouse123 said:

 

Why launder? Just walk up to the counter and put it in the bank, nobody asks where it comes from!

Thought that as I typed

[Surelynot]

1 minute ago, BritManToo said:

....... be surrounded by prostitutes all the time.

Was another motive I identified.

....but you don't need to actually buy a bar for that......????

[BritManToo]

Just now, Surelynot said:

....but you don't need to actually buy a bar for that......????

You could probably afford more if you didn't buy a bar.

[Scouse123]

1 hour ago, brianthainess said:

All people I have met don't OWN a bar, they pay rent for the premises, I have never understood why people "buy" a bar, for millions, all they are buying is a few bar stools, tables, a pool table. The overheads may include rooms for 'staff' a motorbike for their transport a meal or two a day, bar rent, electric and water. I wouldn't have a bar of it.

 

Buy a failed one that has gone bust and just take a new lease. Decorate it and make up some flyers to give out to non existent customers, buy five sets of connect four, and post it on Facebook.

 

Have a balloon party with a pig outside and sandwiches.

 

Hey Presto! a new bar for two weeks!

[kingofthemountain]

1 minute ago, Surelynot said:

....but you don't need to actually buy a bar for that......????

Maybe he is thinking that if he is one of the ''owners''

he will get more attention from the working girls in ''his'' bar ?

 

He is going to be very disapointed about it

 

[Surelynot]

1 minute ago, BritManToo said:

You could probably afford more if you didn't buy a bar.

....but you do get to do all the "interviewing"

[Surelynot]

3 minutes ago, Scouse123 said:

 

Buy a failed one that has gone bust and just take a new lease. Decorate it and make up some flyers to give out to non existent customers, buy five sets of connect four, and post it on Facebook.

 

Have a balloon party with a pig outside and sandwiches.

 

Hey Presto! a new bar for two weeks!

You must be ex-marketing executive for soi 6

[Cake Monster]

On 4/17/2021 at 10:56 AM, Peterw42 said:

You can pay the bar owner however you like, keep in mind you will also be paying the building owner a one off payment referred to as key money, paid when a lease changes hands

And dont forget the Monthly Brown Envelope.

[Surelynot]

Just now, Cake Monster said:

And dont forget the Monthly Brown Envelope.

...or worse......envelopes.

[dlclark97]

Have you taken notice of the many bars closed and more closing almost daily?  What are you thinking (with)?  COVID has a long way to go before bars, if there are any left by then, will begin making money.  New variants keep popping up and it appears existing vaccines are or may be less effective.  Some are just barely over 50% effective at this time and who knows if they will be at all effective on the newest strains.  The most effective are yet to be available in any quantity here.  I hope at this time you are a multi-millionaire because buying a bar at this time gives you the opportunity to be just a millionaire in the near future.  If you must buy into a bar at this time be prepared for 2-3 years of constant losses.  Why is a part ownership in this bar  even for sale?  Income at this time and for the foreseeable future not enough to meet expenses?  

[Neeranam]

On 4/17/2021 at 11:01 AM, Natai Beach said:

Then get yourself a mink coat, some gold chains, a Cadillac and a stick. 
Good to go.

And a Toyota Fortuner