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One of Bangkok’s most famous soapy massage parlours up for sale for 470 million baht


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Posted

This place and similar used to be a gold mine but with today's uncertainty of this and that viruses better to sell off and walk away and wait for better days and re-open again somewhere else...

  • Like 1
Posted
9 minutes ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

Those will be the legitimate massage/café revenues in the books, the actual revenue could easily be two or three times that!

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Posted
5 minutes ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

The three rai of land it is sitting on in Bangkok is probably worth a fair bit on it's own so nowhere near 13 years to get your money back.

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Posted
9 minutes ago, Liverpool Lou said:

Those will be the legitimate massage/café revenues in the books, the actual revenue could easily be two or three times that!

So could the actual costs which would also be off the books! Shady as, if you've not got the "connections", you do not want to be in this business.

  • Thanks 1
Posted
1 minute ago, kingstonkid said:

I have a suggestion why don't we form a consortium and buy it under the ASEAN NOW BANNER

 

Good idea - I'm a qualified accountant and I shotgun the position of Treasurer.

 

Send me the money!

  • Haha 1
Posted

If I had 470 million I would certainly just enjoy the fruits of my savings. With a life expectancy of, say 30 years, it makes 16 million a year or more than one million Baht a month. That is without interest and compound interest. 
But yeah, a general receiving his year-end bonus for his dedicated work for the public and the good of the country, might opt for this money-parking option and whoever thinks of laundering now .... misunderstands what a soapy is for in the first place ???? 

Posted

At circa 50M profit (assuming after tax) per annum it's a steal.  Allowing for a notional rental ROI of say 8% (37.6M) that leaves you with 12.4M of free money, plus capital gain.

 

Only one thing missing in the equation - customers.

Posted
10 minutes ago, JCauto said:

So could the actual costs which would also be off the books! Shady as, if you've not got the "connections", you do not want to be in this business.

Anyone who buys this business will instantly have the connections needed if they don't have them already!

  • Haha 1
Posted
2 hours ago, Gsxrnz said:

Good idea - I'm a qualified accountant and I shotgun the position of Treasurer.

 

Send me the money!

Only if I can be quality control.

Posted
4 hours ago, Pravda said:

Now I know what to say when immigration asks me if I can speak Thai 

It's actually "Ap, Op, Nuat, Nap" ...... but they rarely say the "Nap"

Which roughly translates as Wash, perfume, massage, <deleted>

  • Like 2
Posted
4 hours ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

After that time, you would have gotten your initial investment back and also then be the owner of a property worth 470 million , so, you would have doubled your money in that time frame 

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Posted
3 hours ago, BritManToo said:

It's actually "Ap, Op, Nuat, Nap" ...... but they rarely say the "Nap"

Which roughly translates as Wash, perfume, massage, <deleted>

Nothing better than an afternoon nap !

Posted (edited)
8 hours ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

Assuming a 20% profit margin (before tax and 'tax'), it could take even longer than that.

 

Could only make business sense as a money laundering operation.

Edited by Kinnock

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