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Posted

Good luck, I don't remember the initial post, but thanks for the update.

 

I can identify with your problems, we are building a house at the moment, and face similar challenges as mentioned on a daily basis. 
 

 

Posted
1 hour ago, weelittletimmy said:

The business made profit from the very beginning, since it opened during high season. It did about 4000 baht/day profit until March, where it gradually decreased until break even point. It lost money in April and May, now in June I'm back at breaking even. April and May almost cancelled out the profit made in the initial  months.

Sounds like a 6 month business. 

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Posted (edited)
57 minutes ago, bignok said:

Sounds like a 6 month business. 

Run a few business like this it’s more like a 3 month season very very good profit next 3 months break even/small profit next 6 months start to lose your profits especially if keeping staff on.

throwing more money/time at it doesn’t make much difference that’s simply how tourism business works unless you are in prime prime location.

we had it running sweet for a while work crazy for 6 months then have 6 months off , it’s more a lifestyle the profits see you through the 6 months never needed to touch my own money.

Edited by taninthai
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Posted

Good luck! Many years I knew somebody who opened a coffee/cake shop next to a book shop in Chiang Mai but that seemed to disappear. Here's hoping you have more success. P.S. could not read the small print in your post but I'm sure it was all useful info.

Posted
7 hours ago, weelittletimmy said:

it's not doing as well as I hoped.

You mention opening a 'tiny restaurant' - - how high is the upside? If it is tiny how many customers could you seat at one time? Tiny restaurants would be lucky to have tiny profits - is it unrealistic to have high hopes for a very small venture? 

 

good luck but you may be achieving your mark.. maybe you might shoot higher if you want more money.

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Posted
59 minutes ago, bignok said:

Wrong, 200% profit.

"I generally sell meals at 200% cost. So if it costs 50 baht to make, I sell it at 150"

 

Wrong, nowhere does he mention profit, he specifically says 200% of cost!

Posted
9 minutes ago, bigt3116 said:

"I generally sell meals at 200% cost. So if it costs 50 baht to make, I sell it at 150"

 

Wrong, nowhere does he mention profit, he specifically says 200% of cost!

Basic math. 200% markup is 100 baht. 

 

Cost plus 200% 

 

Obviously you never ran a business.

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Posted

In the food business your costs should be 1/3 of the price. That's what you aim for. 50/150 is 1/3. If you get more great but price too high you lose customers, price too low you don't make enough money.

 

 

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Posted
5 minutes ago, bignok said:

Cost plus 200% 

He does NOT say "plus" he says "at 200% cost", totally different.

 

6 minutes ago, bignok said:

Obviously you never ran a business.  went to English or Maths classes in your youth.

 

????

 

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Posted
1 minute ago, bigt3116 said:

He does NOT say "plus" he says "at 200% cost", totally different.

 

????

 

The OP doesn't know you. He doesn't have to spell out every detail to some guy who doesn't know the 1/3 ratio which has been used for 40 years in the food business.

 

If you don't know something find out. Don't blame others.

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Posted (edited)
18 minutes ago, lom said:

But it isn't. The 200% (100 baht) has to pay rent, salary, etc. Profit is what remains after that.

@bignok is correct
The OP made an small error in their statement
 

12 hours ago, weelittletimmy said:

i generally sell meals at 200% cost. So if it costs 50 baht to make, I sell it at 150.

This statement is false.
"cost" is the cost to produce.
i understand the argument above both right sort of due to OPs little error
what the OP should have written is:
i generally sell meals at 33.3% cost. So if it costs 50 baht to make, I sell it at 150.
or
i generally sell meals at triple the cost. So if it costs 50 baht to make, I sell it at 150.
or
i generally sell meals at 200% profit (gross). So if it costs 50 baht to make, I sell it at 150.

you generally use the sale price as 100%, and work out the cost percentage from that
not the other way around
selling at 200% cost, sounds like making for 2 and selling for 1

Edited by patman30
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