All Negative On Here?

[actiondell4]

No matter whatever business idea someone has or wants to buy a business,most of you come out of the woodwork ready to shout your negativity down the posters throat.

"The business wont work", "That business is no good","start with a big fortune and you will have a small fortune left",

etc etc.

Well i tell you what,im sure i can do it.

If all the businesses are failing,why is SUNBELT selling them?

Im interested in only spending 3 million baht max,and im sure i could pick up a few good businesses,OR start my own,mini mart,internet cafes,etc,BUT according to most of you,THESE wont give you any money.

I am quite happy to earn at least 35000 baht profit per month.

Im sure i could buy a 7/11 or family mart franchise somewhere in thailand for less than 3 million bahjt.

Im sure SUNBELT has businesses,and i mean profitable/reputable for sale for less than 3 million that bring in a profit of at least 30 000 baht per month.

BUT,NO ,according to all of you,they dont work,cant make any money,dont bother etc etc.Well what do you do,do you at least try?

Well how about a DRY CLEANER business?

How about a motorbike mechanic business?

How a computer repair business?

Yes you have to employ people,but you HAVE to anyway.

BUT,we all shouldnt bother,no business works, no all tooooo hard,just come to thailand,get drunk,barfine the girls,live day to day.

Well there must be some customers to use your business if you own one.

Theres hairdressing businesses,mini marts etc etc.

But according to most of you on here,na,they all go broke.

I have just spent 2 months in Thailand and i agree bars are not busy in low season,but other businesses such as Thai food restaurants were,now if theres no profit in that,why are they still operating.

Im looking beyond bars into everyday businesses and i believe you can make money.

Edited September 17, 2007 by actiondell4

[fletchsmile]

Go for it, if you feel positive... there are plenty of people who make it here. 3mio is the sort of money you could start up a small business where you could be legally doing something. I think you'll need a little more thought on the particular business line tho...

Edited September 17, 2007 by fletchthai68

[Dupont]

No matter whatever business idea someone has or wants to buy a business,most of you come out of the woodwork ready to shout your negativity down the posters throat.

"The business wont work", "That business is no good","start with a big fortune and you will have a small fortune left",

etc etc.

Well i tell you what,im sure i can do it.

If all the businesses are failing,why is SUNBELT selling them?

Im interested in only spending 3 million baht max,and im sure i could pick up a few good businesses,OR start my own,mini mart,internet cafes,etc,BUT according to most of you,THESE wont give you any money.

I am quite happy to earn at least 35000 baht profit per month.

Im sure i could buy a 7/11 or family mart franchise somewhere in thailand for less than 3 million bahjt.

Im sure SUNBELT has businesses,and i mean profitable/reputable for sale for less than 3 million that bring in a profit of at least 30 000 baht per month.

BUT,NO ,according to all of you,they dont work,cant make any money,dont bother etc etc.Well what do you do,do you at least try?

Well how about a DRY CLEANER business?

How about a motorbike mechanic business?

How a computer repair business?

Yes you have to employ people,but you HAVE to anyway.

BUT,we all shouldnt bother,no business works, no all tooooo hard,just come to thailand,get drunk,barfine the girls,live day to day.

Well there must be some customers to use your business if you own one.

Theres hairdressing businesses,mini marts etc etc.

But according to most of you on here,na,they all go broke.

I have just spent 2 months in Thailand and i agree bars are not busy in low season,but other businesses such as Thai food restaurants were,now if theres no profit in that,why are they still operating.

Im looking beyond bars into everyday businesses and i believe you can make money.

You're right, there is money to be made here, just not in most of these businesses. Thailand is hot on immitation and low on innovation. Hit on the latter and you are quids in for sure.

Business are being sold as they have failed already. Why sell a good business through an agent? If it was any good somebody would snap it up from you. Good businesses do sell, usually through word of mouth or after an add in the paper. If they are on the books of an agent, they have obviously failed these two hurdles.

Anything you can do, a Thai can and will do for less than 300 baht a day! Can you undercut this?

Many motorbike shops here already.

Can get a haircut for 100baht any street in Thailand anytime day or night.

Most restaurants and shops stay open all year as there is no unemployment benefit so they will stay open all day to scratch 100 baht if they have to!

Much also depends on your lifestyle. Quite little appartment in town, once a week out drinking, dining you're ok. Living in Patong, 5 nights plus on the town and (many succeed at this!!) the business either fails through lack of input and hours on the job (not that one) or fails to make enough money to sustain the lifestyle.

Also, absolutely, under no circumstances take a partner or enter a partnership. If a business doesn't make enough for one person, it is not goig to make enough for two people.

If you thinking of partnership with a Thai in a bar.... Please, save the time and heartache and deposit your money now in the a/c of Mr Dupont .. a/c no 1234-555 6969

You can do it though, many of us do manage.

[calibanjr.]

No matter whatever business idea someone has or wants to buy a business,most of you come out of the woodwork ready to shout your negativity down the posters throat.

"The business wont work", "That business is no good","start with a big fortune and you will have a small fortune left",

etc etc.

Well i tell you what,im sure i can do it.

If all the businesses are failing,why is SUNBELT selling them?

Im interested in only spending 3 million baht max,and im sure i could pick up a few good businesses,OR start my own,mini mart,internet cafes,etc,BUT according to most of you,THESE wont give you any money.

I am quite happy to earn at least 35000 baht profit per month.

Im sure i could buy a 7/11 or family mart franchise somewhere in thailand for less than 3 million bahjt.

Im sure SUNBELT has businesses,and i mean profitable/reputable for sale for less than 3 million that bring in a profit of at least 30 000 baht per month.

BUT,NO ,according to all of you,they dont work,cant make any money,dont bother etc etc.Well what do you do,do you at least try?

Well how about a DRY CLEANER business?

How about a motorbike mechanic business?

How a computer repair business?

Yes you have to employ people,but you HAVE to anyway.

BUT,we all shouldnt bother,no business works, no all tooooo hard,just come to thailand,get drunk,barfine the girls,live day to day.

Well there must be some customers to use your business if you own one.

Theres hairdressing businesses,mini marts etc etc.

But according to most of you on here,na,they all go broke.

I have just spent 2 months in Thailand and i agree bars are not busy in low season,but other businesses such as Thai food restaurants were,now if theres no profit in that,why are they still operating.

Im looking beyond bars into everyday businesses and i believe you can make money.

Do you really need me to answer that for you? Hmmm, why are there so many businesses with such great apparent returns on investment so readily available? (hint, key word is apparent) I'm a Sunbelt client, they've been handling my accouting, WP, and VAT for 4 years now. Greg is an honest guy, but also a businessman. There's a reason why Sunbelt makes NO claims of due diligence on the paperwork for most of the companies that they are brokering the sales on (and make a COMMISSION on, ever heard of one?). Just like in the rest of biz in Thailand, you gotta do your homework.

Yes the responses to questions about starting up a biz here are generally cynical/negative. I find a majority of them accurate (according to my experience), and not just whingeing blowhards, but those are there too. That does NOT mean that there aren't business opportunities to be had, and I'm glad you are so sure about things.

Do your homework and keep your head about you and don't do anything out of sheer boredom, sheer frustration, etc., have a reason/plan for everything you do, plan for the worst, trust no-one unnecessarily, work hard, etc., you'll probably be alright. Good luck.

[lazeeboy]

No matter whatever business idea someone has or wants to buy a business,most of you come out of the woodwork ready to shout your negativity down the posters throat.

"The business wont work", "That business is no good","start with a big fortune and you will have a small fortune left",

etc etc.

Well i tell you what,im sure i can do it.

If all the businesses are failing,why is SUNBELT selling them?

Im interested in only spending 3 million baht max,and im sure i could pick up a few good businesses,OR start my own,mini mart,internet cafes,etc,BUT according to most of you,THESE wont give you any money.

I am quite happy to earn at least 35000 baht profit per month.

Im sure i could buy a 7/11 or family mart franchise somewhere in thailand for less than 3 million bahjt.

Im sure SUNBELT has businesses,and i mean profitable/reputable for sale for less than 3 million that bring in a profit of at least 30 000 baht per month.

BUT,NO ,according to all of you,they dont work,cant make any money,dont bother etc etc.Well what do you do,do you at least try?

Well how about a DRY CLEANER business?

How about a motorbike mechanic business?

How a computer repair business?

Yes you have to employ people,but you HAVE to anyway.

BUT,we all shouldnt bother,no business works, no all tooooo hard,just come to thailand,get drunk,barfine the girls,live day to day.

Well there must be some customers to use your business if you own one.

Theres hairdressing businesses,mini marts etc etc.

But according to most of you on here,na,they all go broke.

I have just spent 2 months in Thailand and i agree bars are not busy in low season,but other businesses such as Thai food restaurants were,now if theres no profit in that,why are they still operating.

Im looking beyond bars into everyday businesses and i believe you can make money.

Do you really need me to answer that for you? Hmmm, why are there so many businesses with such great apparent returns on investment so readily available? (hint, key word is apparent) I'm a Sunbelt client, they've been handling my accouting, WP, and VAT for 4 years now. Greg is an honest guy, but also a businessman. There's a reason why Sunbelt makes NO claims of due diligence on the paperwork for most of the companies that they are brokering the sales on (and make a COMMISSION on, ever heard of one?). Just like in the rest of biz in Thailand, you gotta do your homework.

Yes the responses to questions about starting up a biz here are generally cynical/negative. I find a majority of them accurate (according to my experience), and not just whingeing blowhards, but those are there too. That does NOT mean that there aren't business opportunities to be had, and I'm glad you are so sure about things.

Do your homework and keep your head about you and don't do anything out of sheer boredom, sheer frustration, etc., have a reason/plan for everything you do, plan for the worst, trust no-one unnecessarily, work hard, etc., you'll probably be alright. Good luck.

this post took the words right out of my mouth..........

[Jersey_UK]

If all the businesses are failing,why is SUNBELT selling them?

I think it is for the money .

Why are they selling? usually "concentrating on core business activities elsewhere" .

Some of them do make interesting and sometimes depressing or sad reading........but I do lead a dull life

[Firefan]

If you have 3M Baht and are looking for something in the range of Baht 30-35k/mth income one could argue that investing in a well diversified portfolio of stocks/bonds/commodities/reits could do the trick WITHOUT the cost of buying biz, selling up companies, salaries, rent, accounting Etc.

Historical returns (with volatility of course - some good years and some bad years!) of the global equity markets are in the 10-11% range. In addition that would leave you free to earn some extra teaching some English or whatever - while starting a biz would not.... In fact; if you are happy with profits of 30-35k/mth teaching English alone will get you that. Seems weird to accept such a low return - a biz should earn 20-30%/year unless already WELL established/proven before I would look at it.

That said; I am not against starting a biz in Thailand but one should do the homework first and ALSO consider ones own time/value.

Cheers!

[Sunbelt Asia]

You're right, there is money to be made here, just not in most of these businesses. Thailand is hot on immitation and low on innovation. Hit on the latter and you are quids in for sure.

Some businesses make money, some don't. Its as simple as that. Do your due diligence.

Business are being sold as they have failed already. Why sell a good business through an agent? If it was any good somebody would snap it up from you. Good businesses do sell, usually through word of mouth or after an add in the paper. If they are on the books of an agent, they have obviously failed these two hurdles.

Wrong on this score. Ever heard of confidentiality? Any business worth at least 5 baht will be marketed by a business advisor professionally. The seller needs to make sure that the biggest asset, the customers and employees leave in a panic and then the good business is a shadow of itself. It takes a professional to guide both parties with the new owner getting the business as close to the way it was presented when we took the listing. Any business that is marketed by word of mouth or an advert in the paper has a very big hurdle to overcome when the staff or customers finds out and leaves. A business is people, its not brick and mortar.

Good businesses are available for human reasons such as partnership disputes, divorce, deaths, retirement, relocation, health. Do your due diligence and find out if its the real reason why they are selling.

Anything you can do, a Thai can and will do for less than 300 baht a day! Can you undercut this?

You are not employing yourself for 300 Baht a day. as a business man, you should be paying higher than the market rate for your staff and getting the best employees to work with you. The key to having a business is to use the cheap labor to help your business grow.

Its not easy. Its hard work. I've had less than 3 hours sleep in the last 41 hours. Working the other 40 hours and believe me, I'm not upset. I love what I do as I have the passion to win. The desire to win is why you can work all night till 8 a.m. Get three hours sleep and go at it again.

My wife opened three more restaurants in Phuket on Saturday. She'll admit, she doesn't have have the burning passion I have but she works very hard as well as she wants to win. A recent author in a sucess book said " it was Naravadeee why I'm successful " so go figure. :-) "

Many motorbike shops here already.

Can get a haircut for 100baht any street in Thailand anytime day or night.

I myself wouldn't touch those businesses but if someone had the passion with the understanding they are not going to get rich and have a chance to lose money. It would not be a big gamble as the cost would be less than 500,000 Baht. If its a good location, give me any business and odds are high, it will be a winner. You must be a good mgr and give the client want they want. Think and sleep about your clients.

Most restaurants and shops stay open all year as there is no unemployment benefit so they will stay open all day to scratch 100 baht if they have to!

Huh? If they are losing money, they are not going to stay open long. Restaurant business is hard work. I know, My wife or I own 18 of them, but boy do I love it! I'm expanding with more locations. Nothing wrong with a 4.5% to 32% ROI. Not one of the restaurants, I'm involved with is losing money and I can back that up as the companies we are involved with, pay lots in tax. Two disclaimers ...I did have a Chester Grill that lost 50,000 Baht last year. We moved the location and now its been profitable from day one. The other is my wife was involved with a American diner concept . This space has been transferred to a party last week that didn't care that only three years remains on the lease and the building may be destroyed to make way for a hotel. The last three months she made 20,000 Baht a month so she moved the concept.. Overall with the three year period she owned it, the net profits were 50,000 -360,000 Baht per month until the last three months. That same corporation owns another restaurant and that makes month in and month out, net 100,000 Baht per month. Every other restaurant is doing good to very well even with much higher raw material costs in the last 6 months. Margins are being squeezed but you still can make money.

Much also depends on your lifestyle. Quite little appartment in town, once a week out drinking, dining you're ok. Living in Patong, 5 nights plus on the town and (many succeed at this!!) the business either fails through lack of input and hours on the job (not that one) or fails to make enough money to sustain the lifestyle.

If you think you will just be going in to pick up the money. Its possible but unlikely. You better be buying a well established business. I went into one of our restaurants last night for the first time in 6 months. This restaurant averages 42,000 in sales a day. Sure I look at the numbers every week but boy was I impressed, Place was spotless. Staff was smiling and being very service oriented. The key is it took three years to get it to that stage. With the right manager you have developed to be like you ( in this case my wife was the one that did the traing), its possible to not have to be down their throats. The restaurant that I'm at now. I'm far from that stage and why I'm putting in the non stop hours. Remember you must watch the numbers every week at the restaurants you don't visit.

Also, absolutely, under no circumstances take a partner or enter a partnership. If a business doesn't make enough for one person, it is not goig to make enough for two people.

In my case, having a Thai partner was the smartest move I ever made. My wife has been invaluable to me in business in Thailand. Even though many of the companies I'm the majority shareholder or sole proprietorship, she is not a shareholder in or I'm in her companies.

IMHO, its not bad to take in a partner if everything has been spelled out beforehand. Know however 78% of all partnerships fail. Not because the business is losing but one wants to expand, one wants to take the profits. Others see that the other is working no hours and the other is doing more work. Then the wives can fight as well with the other wife of the partner. Cover your bases before you go into a partnership with a professional lawyer guiding you through the potential pitfalls.

Remember at Sunbelt Asia, we have not done any due diligence on any business you will look at. This as you know is your job. But I can tell you that the odds are very high, some very good businesses are on our books as others have found out. Its your job to find which one those are. Its a long journey to own a business but as others have found out, it can be rewarding.

www.sunbeltasiagroup.com

[JUDAS]

No matter whatever business idea someone has or wants to buy a business,most of you come out of the woodwork ready to shout your negativity down the posters throat.

"The business wont work", "That business is no good","start with a big fortune and you will have a small fortune left",

etc etc.

Well i tell you what,im sure i can do it.

If all the businesses are failing,why is SUNBELT selling them?

Im interested in only spending 3 million baht max,and im sure i could pick up a few good businesses,OR start my own,mini mart,internet cafes,etc,BUT according to most of you,THESE wont give you any money.

I am quite happy to earn at least 35000 baht profit per month.

Im sure i could buy a 7/11 or family mart franchise somewhere in thailand for less than 3 million bahjt.

Im sure SUNBELT has businesses,and i mean profitable/reputable for sale for less than 3 million that bring in a profit of at least 30 000 baht per month.

BUT,NO ,according to all of you,they dont work,cant make any money,dont bother etc etc.Well what do you do,do you at least try?

Well how about a DRY CLEANER business?

How about a motorbike mechanic business?

How a computer repair business?

Yes you have to employ people,but you HAVE to anyway.

BUT,we all shouldnt bother,no business works, no all tooooo hard,just come to thailand,get drunk,barfine the girls,live day to day.

Well there must be some customers to use your business if you own one.

Theres hairdressing businesses,mini marts etc etc.

But according to most of you on here,na,they all go broke.

I have just spent 2 months in Thailand and i agree bars are not busy in low season,but other businesses such as Thai food restaurants were,now if theres no profit in that,why are they still operating.

Im looking beyond bars into everyday businesses and i believe you can make money.

Go for it!! I've lived here for more than 8 years. Last year I started a small business ( travel agents and motorcycle rental) with about 200k investment, didn't touch the profits, reinvested them. Got a second shop opened 3 months ago and I've retired from my previous job Business I'm in has huge competition but the trick, for me, is customer service, 100%... good luck

p.s. With 3 million you could possibly set up or buy a few smaller businesses and spread the risk..

Edited September 17, 2007 by JUDAS

[Sunbelt Asia]

Do you really need me to answer that for you? Hmmm, why are there so many businesses with such great apparent returns on investment so readily available? (hint, key word is apparent) I'm a Sunbelt client, they've been handling my accouting, WP, and VAT for 4 years now. Greg is an honest guy, but also a businessman. There's a reason why Sunbelt makes NO claims of due diligence on the paperwork for most of the companies that they are brokering the sales on (and make a COMMISSION on, ever heard of one?). Just like in the rest of biz in Thailand, you gotta do your homework.

Have not gotten rich with Sunbelt so don't think the underlining reason is the money. I take a salary of 75K per month so I know money is around #6 or so on the reason why I'm involved.

# 1 I love helping people and feel clients will get the best shot with our firm. I love hearing them doing well. Many I call my friend and their face lights up when they see me. It feels good to help them get a good business that was for sale for 'human reasons."

#2 Have the desire to be the best in the world. We have from most accounts of other Sunbelt offices have done that by having more listings than all the other 400 Sunbelt offices. This is why we accept even 200K listings.

#3 I like helping the little guy. Love helping a guy who started small and is now rich. It feels good! My door is never closed to helping a client. Best way is for him to do due diligence and see for himself if the business is good.

#4 We take listings as we are able to help protect the buyer with funds in escrow. He gets cold feet and the $ is returned. If he was dealing direct with the seller, odds are high, its gone.

5 Pride of ownership of Sunbelt Asia that we are not like some of our Sunbelt branches that takes only million dollar listings and get people every day asking why, you don't care about the guy with little money? .

#6 Money. Its a great way to keep score versus the last year. I enjoy writing checks to the revenue dept as that means proof we won that year. Clients won and we won.

#7 Businesses would not get a fair price without our involvement. Without confidentiality, the business value will plummet.

#8 We have saved countless business transfers from falling apart and will without a doubt save many more by taking the listing.

#9 We indeed play a important role in helping Thailand . What good does it do, if a good business closes. Everyone loses. The consumer, the employees, the business owner.

#10 Its in my blood. Just like one of our associates who is 81 years old and been doing this for 28 years. Its exciting to get a business transfer done.

www.sunbeltasiagroup.com

[Sunbelt Asia]

If you have 3M Baht and are looking for something in the range of Baht 30-35k/mth income one could argue that investing in a well diversified portfolio of stocks/bonds/commodities/reits could do the trick WITHOUT the cost of buying biz, selling up companies, salaries, rent, accounting Etc.

Historical returns (with volatility of course - some good years and some bad years!) of the global equity markets are in the 10-11% range. In addition that would leave you free to earn some extra teaching some English or whatever - while starting a biz would not.... In fact; if you are happy with profits of 30-35k/mth teaching English alone will get you that. Seems weird to accept such a low return - a biz should earn 20-30%/year unless already WELL established/proven before I would look at it.

That said; I am not against starting a biz in Thailand but one should do the homework first and ALSO consider ones own time/value.

Cheers!

80% of the worlds millionaires got there by owning a business. Plus it looks great on the obituary: : “Business owner” versus “ The former Captain of the Sunbelt United Football team made 30,000 Baht a month picking stocks.”

Nice to see you in the tread Cap.

www.sunbeltasiagroup.com

[blizzard]

80% you gotta be nuts. there are many ways of obtaining munney wo owning a buznit! to be super rich may entail business ownership, however. acieving millionaire status not hard.

plus, you are a bit biased sir............lol

.

lots of negativity becoz ideas that show up here are pedestrian in thought. very few ideas on tv dont suck!

can a client of belt asia confirm his rambling( oops). brokers just put buyere and sellers together.

Edited September 17, 2007 by blizzard

[kelvinj]

Could someone at sunbelt explain the following paragraph to me? First the seller destroys it's customer base and alienates it's employees, thereby destroying the business, all under the guidance of a professional advisor that they have employed for less than 5 Baht.

Unbeleivable given the final sentence; " A business is people, its not brick and mortar"

Wrong on this score. Ever heard of confidentiality? Any business worth 5 baht will be marketed by a business advisor professionally. The seller needs to make sure that the biggest asset, the customers and employees leave in a panic and then the good business is a shadow of itself. It takes a professional to guide both parties with the new owner getting the business as close to the way it was presented when we took the listing. Any business that is marketed by word of mouth or an advert in the paper has a very big hurdle to overcome when the staff or customers finds out and leaves. A business is people, its not brick and mortar

[Sunbelt Asia]

Could someone at sunbelt explain the following paragraph to me? First the seller destroys it's customer base and alienates it's employees, thereby destroying the business, all under the guidance of a professional advisor that they have employed for less than 5 Baht.

Unbeleivable given the final sentence; " A business is people, its not brick and mortar"

Wrong on this score. Ever heard of confidentiality? Any business worth 5 baht will be marketed by a business advisor professionally. The seller needs to make sure that the biggest asset, the customers and employees leave in a panic and then the good business is a shadow of itself. It takes a professional to guide both parties with the new owner getting the business as close to the way it was presented when we took the listing. Any business that is marketed by word of mouth or an advert in the paper has a very big hurdle to overcome when the staff or customers finds out and leaves. A business is people, its not brick and mortar

Sorry you misunderstood.

If a seller does not have someone marketing the business with confidentiality, he will find the business will go down in value. as he destroys it's customer base and alienates it's employees, Example have a good restaurant for the last 5 years. Put a sign in the window " For Sale" How long does the chef stay? How long does the waitesses? The business is the customers and the staff. I can't imagine any business no matter how much its worth( even 5 baht) that would no lose money if they went about the business transfer with no confidentiality.

Unlike the owner of a residential or commercial building, a business owner usually doesn't want the general public to know his business is on the market. Effective brokers like us ,screen prospective buyers to separate the legitimate ones from the "tire-kickers" or competitors out to gain an edge. Let's say Joe's tire Factory is up for sale, and Joe's biggest competitor finds out. The competitor tells a mutual client, 'Joe's factory is on the market, and it's not even going to be around next year. And you know what? I've heard he's been having financial problems.' "

Then Joe's employees find out the factory is for sale, a virtual inevitability if the company is small and the owner shops his business around during working hours. Strange phone calls feed the rumor mill.

Suddenly, Joe's employees believe that a big conglomerate is going to come in and everyone will lose his job . "They start bailing out on him. Now Joe is losing both customers and employees, so he really doesn't have much of a business anymore. The biggest thing a broker does is protect the seller's business during the whole sales process."

Its the fear of the unknown. Ive been involve in thousands of transfers and they all go well as the staff is told after a new business owner is found. In most all cases they stay and the transfer can be done like a conductor changing shifts on a train. Noone knows until after the new guy comes on the loud speaker.

Otherwise everone is all on pins and needles and the business is not worth much anymore. Thats why we are important to the seller and the buyer.

www.sunbeltasiagroup.com

[kelvinj]

OK, now I understand what you were trying to say, but with sentences like the following, you can expect a lot of misunderstanding.

The seller needs to make sure that the biggest asset, the customers and employees leave in a panic and then the good business is a shadow of itself.

[blizzard]

so what happens to buyer after deal is done?if im buyer i want staff to know wots going on. are buyer this, pardon the word, stoopid?

buyer cums to you to sell to another schmuck...............lol.

doesnt sound like everyone wins your way. buyer probably feels taken.

Edited September 17, 2007 by blizzard

[Morden]

The OP has already had some good advice before posting, even though he might not like it. There is no easy way in Thailand to make a sustained, long term profit. If you want to invest in a business for a modest return and live an equally modest lifestyle, that's fine. If you want to make a fortune in Thailand, either chase yourself into an early grave trying to run several businesses or forget it and invest elsewhere. The fortunate few will do well anywhere but there is a lot of hot air from those who either want your money or who want you to think that they are doing well.

When it comes to buying a business, always take note first of those who say that it won't work. Either they are correct or you have spotted something that they have not. It's quite right that you should do due diligence and that applies as much to the business brokers as to the businesses that they are trying to sell to you. And how will you tell whether or not a business in Thailand is doing well? Would you trust the books? Up to you but I would not.

[Sunbelt Asia]

80% you gotta be nuts. there are many ways of obtaining munney wo owning a buznit! to be super rich may entail business ownership, however. acieving millionaire status not hard.

Compared to the Worlds population its still tough. Only 8.7 million people in the World hold more than US1 million in financial assets as of 2005. This wealth in 2005 however was 33.3 trillion dollars held by those 8.7 million people

Ooops its not World, it's the USA. 80% of American millionaires started their own business. Actually, Georgia State University marketing professor Thomas Stanley, research indicates you are 10 times more likely to become a millionaire if you own your own business.

also according to a Wall Street Journal report, small business owners are the largest class of millionaires; larger than investors, executives and those who got lucky and inherited their money.

As for the World, business ownership or sale of the business is the primary source of income for the majority of the World's High Net Worth Individuals but you are right its not 80% of the worlds HNWI who got it by business ownership Income ranked second as the source, followed by inherintance. Forth is investment performance. 5th was stock options/ restricted stock.

plus, you are a bit biased sir............lol

The facts are the facts.

.

can a client of belt asia confirm his rambling( oops). brokers just put buyere and sellers together.

They have to sign tons of paperwork sometimes with their lawyers agreeing thats our only role at the closing table.

Impossible for a client that has worked with me to say anything else. As not once have I ever met a client and even called him back after he left my office. The client always had to call us back. after signing the paperwork and looking at different listings on his own. We tell the client ' You'll never hear back from us unless you call me back and you want to meet one of the owners or want more listings. Thats how we do business No selling, no pressure. Cause to be frank we don't know if the business is good or not. Thats up for the client to find out and if he wants, we'll help him as much as we can gathering whatever he needs for his team to do due diligence.

www.sunbeltasiagroup.com

[blizzard]

thanks for yr honesty. People SUNBELT ASIA, may do good for THEIR clients, but they are brokers, nothing mor nothing less. think real estate agent. same same. real estate agent not tell you if you getting good deal, although you may or may not be getting one, their job is to complete transactions. of course the ones that do know what they brokering becum superstars in their field.

ive dealt with real estate agents and the most of them only want transaction done. the ones that get my buznit offer more than cumpleting buy or sell.

[Sunbelt Asia]

so what happens to buyer after deal is done?if im buyer i want staff to know wots going on. are buyer this, pardon the word, stoopid?

buyer cums to you to sell to another schmuck...............lol.

doesnt sound like everyone wins your way. buyer probably feels taken.

A staff meeting is done after the transfer with a introduction of the new buyer and the previous owner. The key is not to have staff to leave unless you want them to. In most all cases, they don't leave with our instructions oo how to have the staff meeting. In most cases the seller has to stay and help with training with the new owner for several weeks,. sometimes its much longer up to a year. It all goes smooth with the staff. I have done quite a number of interviews with business owners and the pods will be available in the next couple weeks. All pretty informative on the process and how it went.

By the way sometimes a buyer has a key person(s) they want to make sure will stay. He will lock him up in a contract before the purchase goes thru. Doesn't happen many times but it has happen where the buyer wanted peace of mind on that staff member. That key person understood it was top secret.

When it comes to buying a business, always take note first of those who say that it won't work. Either they are correct or you have spotted something that they have not. It's quite right that you should do due diligence and that applies as much to the business brokers as to the businesses that they are trying to sell to you. And how will you tell whether or not a business in Thailand is doing well? Would you trust the books? Up to you but I would not.

Correct. As for the books, many ways to check. I've had many threads on the methods before. I'm sure its in the archives about thinking like a government tax man and different mehods with hotels, etc.

As for companies I own, very easy to check, just look at the Vat numbers every month. Look at the bills and see the % of food sales. Verify by getting one of the suppliers Vat filings. Look at the tax paid on the tax return. But many companies are not as easy thats why you have to think like a tax man.

www.sunbeltasiagroup.com

[Sunbelt Asia]

thanks for yr honesty. People SUNBELT ASIA, may do good for THEIR clients, but they are brokers, nothing mor nothing less. think real estate agent. same same. real estate agent not tell you if you getting good deal, although you may or may not be getting one, their job is to complete transactions. of course the ones that do know what they brokering becum superstars in their field.

ive dealt with real estate agents and the most of them only want transaction done. the ones that get my buznit offer more than cumpleting buy or sell.

Our job is to represent both sides fairly. The difference between real estate broker and business broker is a real estate agent can sell you why the small bedroom is not a big issue. We can't because we don't sell. We simply put the buyer and seller together and gather whatever paperwork the buyer requires after his offer has been accepted. If we ever need to convince someone, its the landlord not to increase the rent. Thats the biggest roadblock with a number of transfers, the landlord. I just bought a business last week that went pearshape 4 or 5 times before I was handed the keys.

I know at Sunbelt we do things the right way and why a mergers and acquisitions agent is far better than word of mouth or advert in the paper. At the end of the day, our office will be full today and everyday because we have a reputation with our clients and thats why we are part of the World's largest business advisory firm. We certainly would welcome any due diligence on us. People that have acquire a business five years ago, still call me for advice. We give that advice at no charge. Follow up after you acquire the business is our expertise.

Thank God at the end of the day, we all have choices to get involve in business in Thailand or use Sunbelt or another firm. If you decide to call us, we'll explain the process.

www.sunbeltasiagroup.com

[anonymouse]

Actiondell,

I can appreciate that you want to give it a go in Thailand and I'm sure that you have the energy and passion to give it a go.

the problem is that Thailand isn't a paticularly level playing field when it comes to doing business.

Two months in Thailand is certainly not enough time to get a feel for the country, I'd recommend a minimum of another six months here before even contemplating doing business.

As mentioned by other poster Sunbelt are primarily a brokerage firm, If the seller is saying that he's leaving to retire and he's making x amount of money it means sweet F.A. - Most farang business's have three sets of books here - one for the accountant, the true figures and one for when they sell up.

Small Thai business's survive because they have very little in way of overheads and a Thai can survive on a lot less income than you can.

Saying all this I run a small business here and I scrape a living , enjoy the freedom of being my own boss and it beats working 9-5 in an office back in the UK.

Good Luck

Edited September 18, 2007 by anonymouse