Is There A Single Business That Doesnt Fail In Thailand?

[realmadrid25]

i am getting a laugh at reading these topics. every single topic starts "i want to open X business in Thailand" and every response tells them that only an idiot would do such a thing, that thais are going to rob them blind, that they will have to pay off corrupt police and mafia figures.

i just have one question, if it is impossible to open a successful business in thailand, how come everywhere i go i see people in business? lets put on our red thinking caps now....

[Solosiam]

Of course it's possible, the problem is with people who wouldn't dream of opening a business in their own country, coming here and thinking it's going to be a breeze, or opening a business for all the wrong reasons (an excuse to stay here).

If you have good experience of Thailand (say 1-2 years min), a good idea, a business plan, money to bide over whilst the business grows and trustworthy partners - there is no reason that you can't start a very successful business.

Problem is when you don't have any/all of the above.

[Edonista]

i am getting a laugh at reading these topics. every single topic starts "i want to open X business in Thailand" and every response tells them that only an idiot would do such a thing, that thais are going to rob them blind, that they will have to pay off corrupt police and mafia figures.

i just have one question, if it is impossible to open a successful business in thailand, how come everywhere i go i see people in business? lets put on our red thinking caps now....

Quite simply, those people have not yet lost all the money they started with. Please note the "not yet".

Or, they have other income sources sufficient to cover both their living expenses and their business current losses.

[Solosiam]

i am getting a laugh at reading these topics. every single topic starts "i want to open X business in Thailand" and every response tells them that only an idiot would do such a thing, that thais are going to rob them blind, that they will have to pay off corrupt police and mafia figures.

i just have one question, if it is impossible to open a successful business in thailand, how come everywhere i go i see people in business? lets put on our red thinking caps now....

Quite simply, those people have not yet lost all the money they started with. Please note the "not yet".

Or, they have other income sources sufficient to cover both their living expenses and their business current losses.

Actually I run a quite successful business here, as my only income - It's not making money as a business yet but I'm quite well paid and we are aggressively expanding. I know many people who are making some very good money here, even a couple of bar owners... But it's always people who have been here for a while and didn't jump into anything.

[simon43]

The advice you are getting is good advice. Live here for a few years before you commit your money. I lost a few million baht on business ventures that generated a profit, but would never produce a high income. Now I have a good, solid business that makes a good and regular profit. So it's certainly possible, as many TV members with successful businesses will confirm.

Simon

[blizzard]

how do you lose money on ventures that generated profits?

i honestly believe some peeples definition of profit differs from the standard definition.

can someone confirm this. some thais tink gross sales equals profit. i guess this is ok as long as bf bought buznit,

Edited September 11, 2007 by blizzard

[JR Texas]

how do you lose money on ventures that generated profits?

i honestly believe some peeples definition of profit differs from the standard definition.

can someone confirm this. some thais tink gross sales equals profit. i guess this is ok as long as bf bought buznit,

I can confirm that Thailand is one of the worst places in Asia to start a small business, especially if your business model targets farangs , many of which are now being targeted by the insane visa rules.

The business rules in Thailand are designed to maximize the probability that you (i.e., the foreigner) will fail. Please do not automatically think that I am exaggerating here.

In a few months I will be starting a business, but not in Thailand, precisely because I prefer to maximize the probability of success. I would strongly advise you to get professional advice from Sunbelt Asia.

[teacup]

I would say…

Those who were successful in doing the business in their home country, will most likely be successful in Thailand also.

But the problem here is that, we have so many farangs who “most” have never owned their own business in their lifetime back in their own country but wanted to do so in Thailand with neither knowledge nor skill to run them. That's why most have failed.

[JR Texas]

I would say…

Those who were successful in doing the business in their home country, will most likely be successful in Thailand also.

But the problem here is that, we have so many farangs who “most” have never owned their own business in their lifetime back in their own country but wanted to do so in Thailand with neither knowledge nor skill to run them. That's why most have failed.

You are probably right, but the business rules (and visa rules) do not help matters. Both elements are at play. Even if you are good at what you do, you can fail here due to the rules. I know of several people (successful businesspersons) that have left Thailand for better places precisely because of the business rules that they make "farangs" adhere to.

[teacup]

JR

Ahh...but you're forgeting that parts of having/running any successful business are also including flexibility and adapability to the new or the ever changing environments.

[Chang_paarp]

Business here is fraught with challenges that you would not accept in many other countries. This is essentially a cash economy, which is why the VAT cntributes over 40% of the revenue base to the government. That is why they are keen to ensure it is collected. The banking system is geared for the cash economy, and does little to change and offer the services that are expected in other parts of the world that are rapidly becoming cashless societies.

The joys of local pressure / and mafia or any other threat are real depending on the chosen industry and location. One way to reduce these threats is to invest the time to look at the local area and work out who is worth knowing and who would make a good partner. With a little information these threats or worries can go away, the other way is to use cash, but that has its own set of resulting problems.

As with any investment of your time and money a bit of research is worth the effort, especially if you decide not to go ahead as a result.

[Jersey_UK]

how do you lose money on ventures that generated profits?

I was going to explain this, but then realised who had asked the question - so seems little point.............as I doubt you would understand the answer.

[bkkmadness]

Is the forum we are posting on not a successful business run in Thailand?

[CarlBkk]

A few successful businesses I've noted here, mostly started by foreigners:

beauty companies/slimming

recruitment

cosmetic and international fashion imports

[Prakanong]

how do you lose money on ventures that generated profits?

i honestly believe some peeples definition of profit differs from the standard definition.

can someone confirm this. some thais tink gross sales equals profit. i guess this is ok as long as bf bought buznit,

"how do you lose money on ventures that generated profits?"

I have to have a drink with you next month in suk - I owe you one for the laughs you gave me today culminating in this one!

Surely on your business degree you did financial accounting and analysis - how to read financial reports maybe?

[LivinLOS]

how do you lose money on ventures that generated profits?

i honestly believe some peeples definition of profit differs from the standard definition.

can someone confirm this. some thais tink gross sales equals profit. i guess this is ok as long as bf bought buznit,

If you have a high initial investment (think key money).. Then following years you can still make an operating profit and yet not have repaid your investment.

[JimmyCA]

i am getting a laugh at reading these topics. every single topic starts "i want to open X business in Thailand" and every response tells them that only an idiot would do such a thing, that thais are going to rob them blind, that they will have to pay off corrupt police and mafia figures.

i just have one question, if it is impossible to open a successful business in thailand, how come everywhere i go i see people in business? lets put on our red thinking caps now....

There really are very few farang businesses. The ones you see, bar or restaurant etc, are probably not in the farang's name and it is just a matter of time before they get ripped off. Can't imagine why someone would want to open a business under those conditions.

As for why everyone wants to start a business and thinks they can it is likely they think they can do a better job than the places they have been in thailand ... carppy bars and crappy food .... but people do not really come to thailand for the quality food .... they come for the ladies

[blizzard]

like i said i dont know what some peeple consider profits.

jimmy, arent you being a bit disrespectful as to why people go to thailand for....lol

[realmadrid25]

jimmy the sex tourist lol

[JimmyCA]

jimmy the sex tourist lol

Do I have to change my name to JimmyST

[percy2]

Off the top of my head I would guess

Sunbelt Asia

MBMG

ThaiVisa

Lotus Tesco

Makro

Carrefour

Boots

Watsons

Guardian

HSBC

Standard Charted

F&B

Bourbon St.

The Bulls Head

Have all been successful , and there are hundreds if not thousands of other examples.

My record here so far is W1 L1 D1 ,the draw is ongoing and will probably (touch wood) transfer into the win column.

Cheers

[percy2]

jimmy the sex tourist lol

Do I have to change my name to JimmyST

Maybe just JimmyC&A

Cheers

[calibanjr.]

Off the top of my head I would guess

Sunbelt Asia

MBMG

ThaiVisa

Lotus Tesco

Makro

Carrefour

Boots

Watsons

Guardian

HSBC

Standard Charted

F&B

Bourbon St.

The Bulls Head

Have all been successful , and there are hundreds if not thousands of other examples.

My record here so far is W1 L1 D1 ,the draw is ongoing and will probably (touch wood) transfer into the win column.

Cheers

I'm W0 L1 D1, same as you on the draw, it looks to be moving into the win column, but then again, hope springs eternal.....

Edited September 13, 2007 by calibanjr.

[mikethevigoman]

jimmy the sex tourist lol

Do I have to change my name to JimmyST

Short time ?

[simon43]

how do you lose money on ventures that generated profits?

[\quote]

LivinLOS had the correct answer! In my case:

- Invest in business (keymoney)

- Run business (making a low profit each day)

- Realise after a year that this business is not going to 'take off'

- Try to sell the business but little interest

- Decide to cut losses, close business, lose keymoney/investment

- Still smiling

Simon

[Abrak]

I have a w2 L0 D0 record here. Set up two businesses and sold them both for several million dollars each in the fifteen years I have been in Thailand. In fact it is fair to say I have made practically all the wealth I have from my business dealings here. I am about to set up my third business and this time maybe I wont get so lucky.

[Edonista]

how do you lose money on ventures that generated profits?

i honestly believe some peeples definition of profit differs from the standard definition.

can someone confirm this. some thais tink gross sales equals profit. i guess this is ok as long as bf bought buznit,

If you have a high initial investment (think key money).. Then following years you can still make an operating profit and yet not have repaid your investment.

I have always thought that profit was net of amortization....but some forum members appear to know better

[Shah Jahan]

Business that get their customers/cash flow from outside of Thailand can be successful

[Seizhin]

As the Chinese in Thailand said, "Whatever we made from China, can be sold in Thailand without problem."

If you're making your own business, Thailand is still the heaven for it.

[calibanjr.]

As the Chinese in Thailand said, "Whatever we made from China, can be sold in Thailand without problem."

If you're making your own business, Thailand is still the heaven for it.

I'm not sure I understand either point, especially the second one.