Not your preferred area. The Robin Hood bar in Jomtein is up for sale. Hand written sign outside. I hear it's 1.5 million + 50k a Month rent. Bar has really gone down hill since Martyn died.

Post his business plan 555

Just now, scubascuba3 said:

Post his business plan 555

Oh, it's wildly different from every other beer bar. not.

If you open a beer bar that only sells alcohol then you will be fighting against bars that make profit from other sources, meaning they can drop their alcohol prices to attract customers who will then pay for additional services.

 

Racing to the bottom with prices is a dreadful idea, but some owners still do it.

53 minutes ago, KannikaP said:

Depends on the size of the place, but to make Bht 3000 A DAY PROFIT, after rent, wages, overheads, electricity, water, insurances!!!!  etc etc, I very much doubt it.

Don't forget police tea money

Just now, JoseThailand said:

Don't forget police tea money

He hasn't.

1 minute ago, ozimoron said:

He hasn't.

Sorry, didn't notice "insurances"

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It's obviously a bad idea to open a bar. If he wants to make money how about a 7 Eleven? of course no drink or bar girls there so people lose interest

1 hour ago, ozimoron said:

What is a reasonable price to pay and could he reasonably expect to make 80 to 100k baht a month profit?

It is a going concern so he should be able to have the correct numbers and do the math and decide for himself... If the owner does not have correct books, then it is not really worth buying - - how can you value a business w/o the numbers... unless he is looking at it like an ice cream cone or a new suit - something he just wants... if he is just going by the owners word, who would benefit greatly by a misrepresentation, then it is just how much he trusts the honesty of the owner... 

 

He won't be the first one to buy a business after being told it makes 100k a month only to find out the real figure is not even close. 

 

I saw a bar once that was being sold and the night the customer was to arrive to check it out, the bar was packed w/people having a great time... all shills.

 

As I have been told, 90% of all bars lose money, if he thinks the girls will love him - they will hate him eventually. 

 

He is much better off just going into a bar as a regular and buying lady drinks for the girls.. far less expensive in the long run. 

2 minutes ago, scubascuba3 said:

It's obviously a bad idea to open a bar. If he wants to make money how about a 7 Eleven? of course no drink or bar girls there so people lose interest

Please desist. REALLY not interested in any opinions. Just purchase price and rents in different areas. NOTHING else.

5 minutes ago, 1FinickyOne said:

It is a going concern so he should be able to have the correct numbers and do the math and decide for himself... If the owner does not have correct books, then it is not really worth buying - - how can you value a business w/o the numbers... unless he is looking at it like an ice cream cone or a new suit - something he just wants... if he is just going by the owners word, who would benefit greatly by a misrepresentation, then it is just how much he trusts the honesty of the owner... 

 

He won't be the first one to buy a business after being told it makes 100k a month only to find out the real figure is not even close. 

 

I saw a bar once that was being sold and the night the customer was to arrive to check it out, the bar was packed w/people having a great time... all shills.

 

As I have been told, 90% of all bars lose money, if he thinks the girls will love him - they will hate him eventually. 

 

He is much better off just going into a bar as a regular and buying lady drinks for the girls.. far less expensive in the long run. 

I know a guy who owned a semi successful bar in tree town area for a couple of years. He was doing ok until covid. He did buy of fake books.

 

This guy needs an income to live here. He just sold a house back home.

 

I personally would never do it. I'm just researching the possibilities.

1 hour ago, Boyn said:

You know the way to make a small fortune in Thailand is to start off with a big one.

He said no ladyboys...

17 minutes ago, richard_smith237 said:

I think yours are reasonable estimated numbers: 

Rent: 80k

Staff: 100k

Electricity: 20k

TeaMoney: 50k

 

Total 250,000 Baht per month. 

Beer at 100 Baht / 50 Baht profit per beer ?

 

Without any other incidentals (as mentioned above - including startup costs of TV’s, Fridge, furniture etc)...  5000 beers per month would need to be sold...  That 166 per day. 

 

Is it possible for a smallish bar to sell 166 beers per day, every day ???...  And thats just to break even.

 

Then of course is the humdinger - Key money !!... 

 

 

You wanted numbers, you have very rough estimates above... You didn’t want advice but really, threads such as this are like catnip to those with any slight sense of cynicism...  Its like asking... “I’ve meet Nong in the pink pussy cat, she’s the cashier and has been working there for 2 weeks, we want to get married and buy a house, what documents do I need?”....  and then telling the forum you don't want opinions !!!...  

 

 

Insurance money or tea money seems a bit high, the most common I heard for a normal sized bar was 15k high season and 5 - 10k low season. 

 

another thing to think of, is when the opening of the bar going to be. Low season to get the staff ready for high season, and potentially be the bar with no customers after the opening party, or go all in right at the beginning of high season and be the bar wiht turnover from beginning hopefully? 

 

How long time to build a brand, or just be the natural drop in bar? of course location and athmosphere is essential to suuceed. 

 

in 4 months only you need to make your turnover for rest of the year. 

8 minutes ago, ozimoron said:

Please desist. REALLY not interested in any opinions. Just purchase price and rents in different areas. NOTHING else.

Stop being a knob and just look on facebook groups then if you don't want opinions

3 minutes ago, ozimoron said:

He did buy of fake books.

 

This guy needs an income to live here

Does that mean he bought a place w/fake books? Then it is just on the word of the seller, unless he knows the place well and sees the customer stream.. nothing wrong with doing your due diligence and checking the place out regularly...

 

Seems to me an awful business, dealing w/drunks etc.. would not be fun...

 

Is it still true that most bars in Pattaya lose money? I would have a lot of questions... and he should too...

 

 

1 minute ago, scubascuba3 said:

Stop being a knob and just look on facebook groups then if you don't want opinions

Is there a problem with keeping the knowitalls off the thread?

Just now, 1FinickyOne said:

Does that mean he bought a place w/fake books? Then it is just on the word of the seller, unless he knows the place well and sees the customer stream.. nothing wrong with doing your due diligence and checking the place out regularly...

 

Seems to me an awful business, dealing w/drunks etc.. would not be fun...

 

Is it still true that most bars in Pattaya lose money? I would have a lot of questions... and he should too...

He suspected they were fake but did build the business quite well until covid. The biggest problem was that the landlord spiked the rent to cover for falling revenue from other bars closing.

1 minute ago, ozimoron said:

He suspected they were fake but did build the business quite well until covid. The biggest problem was that the landlord spiked the rent to cover for falling revenue from other bars closing.

Yes, buying the length of the lease is quite important... 

12 minutes ago, ozimoron said:

Please desist. REALLY not interested in any opinions. Just purchase price and rents in different areas. NOTHING else.

Look on property websites or websites where businesses are sold if all you want is purchase price and rent 

1 minute ago, Mac Mickmanus said:

Look on property websites or websites where businesses are sold if all you want is purchase price and rent 

Is there a problem with asking here?

if he's a good friend or related to a good friend, wanting to open a bar in Thailand where locals have monopoly....only advise crossing my mind would be ""Run Forrest Run""

1 minute ago, Mavideol said:

if he's a good friend or related to a good friend, only advise crossing my mind would be ""Run Forrest Run""

I pretty much told him that but did promise to do some due diligence. I do have a couple of acquaintances who own successful (still alive) bars in Pattaya to ask for advice. I'm just casting the net as widely as possible.

33 minutes ago, ozimoron said:

I'm well aware of that but if it was true of all bars there would be no bars. Nobody's charging into a big spend with the wool pulled over their eyes.

I'd suggest looking at the number of beer bars run by expats in Pattaya that have succeeded, against the number that have failed. That information gives the odds of success.

Numbers might look good in high season, in low season the owner may be struggling to pay the rent, let alone 4 staff.

@ozimoron I told you not to tell anyone!! ????

He must be a spend thrift with an great sense of humour.

Just now, Lacessit said:

I'd suggest looking at the number of beer bars run by expats in Pattaya that have succeeded, against the number that have failed. That information gives the odds of success.

Numbers might look good in high season, in low season the owner may be struggling to pay the rent, let alone 4 staff.

I've been around bars for 40 years and ran a group of them on Philippines for a couple of years. I'm just fishing for contemporary info in Pattaya.

9 minutes ago, ozimoron said:

Is there a problem with asking here?

If you just want property prices and rent and you don't want anyone's opinion, then property websites would be a better place to look 

1 minute ago, ozimoron said:

I pretty much told him that but did promise to do some due diligence. I do have a couple of acquaintances who own successful (still alive) bars in Pattaya to ask for advice. I'm just casting the net as widely as possible.

we all hear the stories going around, either corruption/extortion from Mafia/RTP or drunk customers trying to avoid paying the bill and so many more potential draw backs....glad u are doing due diligence, good luck

A youtuber put up a video with some of his numbers. It might be worth watching. I think going to a few beer bars and just asking the owner might get you some answers.