What Kind Of Business Would You Buy In Los?

[Edonista]

It turned out the Soundman just owns a petrol station and he has being complaining about a 40% slump in his revenues.

Just to set the record straight.

Petrol station has been selling roughly the same amount of litres per week for years. Rents are up (due to some expansion & a new cofee shop), 7/11 has actually been doing quite well this year.

Sales have been dramatically down (40+%) in my pro audio business in the last 9 - 12 months. Sales are down across the board in the pro audio & lighting market. (Very niche market with only maybe 15 - 20 players in the whole of Thailand).

So I summise that it is not my ability as a foreigner to do business in the pro AV market, but the market in general that is down. From a business point of view, we will survive because we are not highly leveraged like many of my competitors & sales slumps really only mean profit cuts, not firesales of equipment to cover loan repayments. Tighten the belt, weather the storm & all's well on the next market up-turn.

My wife's construction business is a whole different kettle of fish that I won't go into here.

Cheers,

Soundman.

At last a realistic and believable statement.

But please note that Soundman is probably married to a rich Thai, considering she is in construction business. That means that he can find a reliable Thai partner for his business that actually pays for her 51% share. "Normal" farang instead must pay 100% getting 49% only (plus some rubbish documents that to my opinion have no legal value), is prevented from buying land, must hire 4 Thais to get his work permit, has endless visa and regulatory hassles.

Speaking of his petrol station, Soundmans says "rents are up", meaning he owns the land and cashes rent for shops operated by other people.I guess his 49% owned company bought the land before 15 August 2006, now a farang company could not set up a business that way because is forbidden from buying land (Land Office now requires the Thai partners being able to demonstrate they own the funds necessary for the purchase).This just to give an example of how many difficulties arise in facing xenophobic and predatory Thai laws.

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier. Pity there so hard to find

A Thai wife that constitutes an asset instead of a liability is indeed quite hard to find.

[B-BOY]

555555 hillarious....there we go again....

[keestha]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

Yes and no, Obsession.

For somebody who cannot speak and read Thai sufficiently, indeed a wife or another trusted person is in many cases needed to overcome the language barrier, and the cultural barrier.

But on the other hand, especially in a small business, the farang owners wife's presence can have a negative impact if she is bossing around the staff too much. She will automatically regard herself as being the co-owner, and act as such.

[JimmyCA]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

[alfa156]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

sounds like ur wifes not the brightest

[soundman]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

I think obsession may have meant:

Having a thai wife could make it a lot easier.

It certainly has for me. From day dot until now doing business in Thailand, there is no way I could have achieved what I have, escaped some of the precarious positions I gotten myself into & developed some of the business relationships that I have made without the assistance of my wife. But then again it is what she has been trained to do her whole life so to liken her to an locally experienced business partner is probably a more accurate desciption.

Having your wife involved in your business can also make things harder as well. When ever there is a conflict of opinion, especially between strong headed husband & wife, very often the conflict turns personal & that can have very negative repercussions to the business.

Soundman.

[JimmyCA]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

I think obsession may have meant:

Having a thai wife could make it a lot easier.

To exhaust this matter:

Although very very unlikely, there is some small chance having a thai wife could make it (a lot?) easier.

[obsession]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

I think obsession may have meant:

Having a thai wife could make it a lot easier.

To exhaust this matter:

Although very very unlikely, there is some small chance having a thai wife could make it (a lot?) easier.

I dont think its UNBELIEVABLE at all and dont know why you are shouting about it. Apart from the reasons Soundman very honestly posted, putting the land in your wifes name would be a big advantage too. It would save you all the pantomime involved with setting up a company to bend Thai law. I admit I only know about 6 people with their own businesses in los, but only one of them "goes it alone". The others rely heavily on their wives and many dont even have work permits. Everything they have to do is done through their wife and all permits/licences are in their wifes name. Please prove me wrong, as I have no intention of getting married and would be delighted if its easier for a single foreigner to own and run a Thai business.

[anonymouse]

personally my wife, who I love dearly - has no head for business, she's a great people person and is great with customer service etc but any paperwork and redtape is a no go with her. Just because you can trust your wife doesn't mean she is the right person for the business. The use of a good lawyer made it a lot easier for me.

[keestha]

many dont even have work permits. Everything they have to do is done through their wife and all permits/licences are in their wifes name.

Sure, but they have to be very cautious. People have been busted for things like recommanding a bottle of wine in the restaurant which they were effectively running without having a work permit.

Working without a work permit can have very serious legal consequences, such as being extradited and being declared persona non grata.

Anyways I think we are straying from the original topic a little bit.

[JimmyCA]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

I think obsession may have meant:

Having a thai wife could make it a lot easier.

To exhaust this matter:

Although very very unlikely, there is some small chance having a thai wife could make it (a lot?) easier.

I dont think its UNBELIEVABLE at all and dont know why you are shouting about it. Apart from the reasons Soundman very honestly posted, putting the land in your wifes name would be a big advantage too. It would save you all the pantomime involved with setting up a company to bend Thai law. I admit I only know about 6 people with their own businesses in los, but only one of them "goes it alone". The others rely heavily on their wives and many dont even have work permits. Everything they have to do is done through their wife and all permits/licences are in their wifes name. Please prove me wrong, as I have no intention of getting married and would be delighted if its easier for a single foreigner to own and run a Thai business.

If someone is foolish enough to put a business, land, money, investments or anything else in someone elses name that person is by definition a fool so there is nothing to prove.

[blizzard]

theres a restaurant for sale in anotheer thread. real cheep i would presume.

[obsession]

Its definately a lot harder to go it alone in los. Having a thai wife would would make it a lot easier.

UNBELIEVABLE someone would post this

I think obsession may have meant:

Having a thai wife could make it a lot easier.

To exhaust this matter:

Although very very unlikely, there is some small chance having a thai wife could make it (a lot?) easier.

I dont think its UNBELIEVABLE at all and dont know why you are shouting about it. Apart from the reasons Soundman very honestly posted, putting the land in your wifes name would be a big advantage too. It would save you all the pantomime involved with setting up a company to bend Thai law. I admit I only know about 6 people with their own businesses in los, but only one of them "goes it alone". The others rely heavily on their wives and many dont even have work permits. Everything they have to do is done through their wife and all permits/licences are in their wifes name. Please prove me wrong, as I have no intention of getting married and would be delighted if its easier for a single foreigner to own and run a Thai business.

If someone is foolish enough to put a business, land, money, investments or anything else in someone elses name that person is by definition a fool so there is nothing to prove.

I didnt think you could justify your earlier post and it looks like you cant admit your wrong, so you would rather call people fools. I wouldnt put anything in someone elses name either, but dont think everyone who does it a fool. Some people can be trusted.

[JimmyCA]

lol

[JR Texas]

lol

Under present conditions, I would not buy any business in LOS. You would almost have to be crazy to do it. Vietnam, Philippines and Cambodia are better places to put your money. LOS is a rapidly sinking ship. This is especially true if your business is intended to cater to expats....within the next few years I think we will see a major exodus of expats to more receptive places (already happening). Good luck in whatever you do. But beware of the hype.....ads.....love LOS or leave it crap from the people who are "grandfathered in," wearing huge and thick rose-colored glasses. Trouble is definitely brewing.........

[bendix]

lol

Under present conditions, I would not buy any business in LOS. You would almost have to be crazy to do it. Vietnam, Philippines and Cambodia are better places to put your money. LOS is a rapidly sinking ship. This is especially true if your business is intended to cater to expats....within the next few years I think we will see a major exodus of expats to more receptive places (already happening). Good luck in whatever you do. But beware of the hype.....ads.....love LOS or leave it crap from the people who are "grandfathered in," wearing huge and thick rose-colored glasses. Trouble is definitely brewing.........

How's that planning for Cambodia coming along JR?

[blizzard]

who want to live in cambodia, vietnam, or phillpines?

NOT ME!

[JR Texas]

who want to live in cambodia, vietnam, or phillpines?

NOT ME!

Many expats are happy in these countries.........Thailand is only one small place with an overblown reputation. But, let me modify my answer to the question: I would not buy a business in LOS in my name (too many hassels). I might buy a business for the woman I love (a Thai woman). Putting it in her name avoids many problems, but creates others if you can't find a way to teach her how to do things properly.

I think the OP wants some investment ideas. Too many hotels and bars.......I would avoid them. Too many restaurants, but very few good ones (not one genuine Mexican restaurant in Thailand......not one genuine smoked BBQ place). Also, it is almost impossible to find really good smoked meats (a good deli is a possible winner). Condo/real estate market.......forget it! Crasssshhhhhhhh. Still, those at the top end seem to be doing better (top condo, facing ocean). Other than that, not enough demand (except in Phuket).

One business concept that I think really might work in Thailand is a self-serve car wash like we have in the USA......drive through and self-serve and coin operated. If, however, you put some Thai girls there with thongs on to dry the cars, your income will no doubt increase. Lots of cars in Thailand, a few good car washes, but much room for expansion........simple idea that needs only a small amount of capital to get off the ground.

I would also look at self-storage as a business, especially in Bangkok and Pattaya. Just some ideas........but, again, if you want to make money, I would avoid Thailand and start something in Cambodia, Philippines, or Vietnam--especially Vietnam.

[blizzard]

simple ideas that require little capital to start dont make money!

ask your local fruit cart vendor.

Edited August 21, 2007 by blizzard

[JR Texas]

simple ideas that require little capital to start dont make money!

ask your local fruit cart vendor.

Ask Colonel Sanders..........are U serious? Virtually every huge moneymaker today started with a simple idea and small capital. Relatedly, "small capital" is a relative phrase. You find a niche......a new idea.......if it works you expand. Another idea I would add to the previous list is ice-making........some people are making good money at it......demand should only increase in the future. Couple that with a logistics transport system for cold storage, and you might have something to build on.

[bendix]

simple ideas that require little capital to start dont make money!

ask your local fruit cart vendor.

Ask Colonel Sanders..........are U serious? Virtually every huge moneymaker today started with a simple idea and small capital. Relatedly, "small capital" is a relative phrase. You find a niche......a new idea.......if it works you expand. Another idea I would add to the previous list is ice-making........some people are making good money at it......demand should only increase in the future. Couple that with a logistics transport system for cold storage, and you might have something to build on.

Icemaking? I'd like to see a farang worm his way into that racket. It's protected by gangs - anyone trying to muscle in will have a very very short business life.

Don't go there.

[Gary A]

I really don't like to admit it but I am a three time loser. The first time I had a crooked Thai partner, the second time I had a lazy farang partner and the third time I had a conniving bent farang partner. All in all it cost me about two million baht to find out that doing business in Thailand is NOT easy. It's just a good thing that I didn't have to make money from the business to survive. In any case partnerships RARELY work out.

[JR Texas]

simple ideas that require little capital to start dont make money!

ask your local fruit cart vendor.

Ask Colonel Sanders..........are U serious? Virtually every huge moneymaker today started with a simple idea and small capital. Relatedly, "small capital" is a relative phrase. You find a niche......a new idea.......if it works you expand. Another idea I would add to the previous list is ice-making........some people are making good money at it......demand should only increase in the future. Couple that with a logistics transport system for cold storage, and you might have something to build on.

Icemaking? I'd like to see a farang worm his way into that racket. It's protected by gangs - anyone trying to muscle in will have a very very short business life.

Don't go there.

Bendix, you seem to have a business mind, what niches do you see out there that might be good for the OP?

[bendix]

How should I know? I have absolutely no idea of the OP's skills, experience, business aptitude, personality, likes and dislikes etc etc. Surely they need to be taken into account before identifying what he can do.

All I see in this thread (and some others he has featured in) is an overwhelming desire to be in Thailand at all costs, for whatever personal reasons he may have. My personal experience of that dominant drive is that it's dangerous and common sense gets thrown out of the window, but that's another thread entirely.

If I had the time, business savvy and creativity to spot sexy little niche areas, I certainly wouldnt share them here. I'd work out ways to exploit them myself.

[canadiangirl]

Just out of curiosity, are many of these farang-owned "standard" businesses (internet cafes, guesthouses, bars, etc) more profitable than just sticking the capital in some safe investments and collecting the interest?

[bendix]

Let me put it this way, canadiangirl. Take your capital. Burn it. Calculate the return you've generated. It's roughly the same return bars and internet cafes generate.

[canadiangirl]

Let me put it this way, canadiangirl. Take your capital. Burn it. Calculate the return you've generated. It's roughly the same return bars and internet cafes generate.

Aha. It all becomes clear. Thanks Bendix.

It's weird how Thailand seems to only have 3-4 different kinds of retail businesses, with everyone always copying what's already there. Not too much innovation going on.

[bendix]

I think you're confusing the types of business your favoured sexpats will move towards, and those which are successfully being run by more regular expats, who are a different breed entirely. The former have no imagination (as in the choice of their romantic conquests), the latter are prepared to work harder and take more risks (as in the choice of their romantic conquests). There's a perfect symmetry.

[canadiangirl]

I think you're confusing the types of business your favoured sexpats will move towards, and those which are successfully being run by more regular expats, who are a different breed entirely. The former have no imagination (as in the choice of their romantic conquests), the latter are prepared to work harder and take more risks (as in the choice of their romantic conquests). There's a perfect symmetry.

What kinds of other retail businesses are regular expats running? Not looking for business ideas, just curious. At least in BKK, I saw a lot of the exact same kind of stores in malls, on the street, stalls like MBK, Pratunam, etc. I don't just mean farang-run businesses, but also businesses run by Thais.

[bendix]

Huh? Not sure of your question. Thais and farangs are running the hundreds and thousands of different companies that, collectively, comprise the Thai economy. The retail sector is of course the one you see on the streets, but like every economy, there are hundreds of types of business behind the scenes.