Trying To Make A Bit Of A Living

[chazzer]

hi would anyone have any ideas of how to make a bit of a living in the land of smiles. i am thinking of moving to cm and would like to keep myself a bit busy. one idea i had was to maybe get a small block of room near to factorys out in the sticks a bit, i have some capital to do this but i wondered if anyone had any other ideas of what to do. and any info on taxes and stuff. hope you can help

[wasabi]

I noticed no one is selling portable space heaters yet. You could corner the market.

[zorro1]

hi would anyone have any ideas of how to make a bit of a living in the land of smiles. i am thinking of moving to cm and would like to keep myself a bit busy. one idea i had was to maybe get a small block of room near to factorys out in the sticks a bit, i have some capital to do this but i wondered if anyone had any other ideas of what to do. and any info on taxes and stuff. hope you can help

Is that it? is this your business plan? You are 100% correct in what you say and I agree that you will make a bit of a living. A very little bit and English teaching isn't an option and I see from your other posts your are living in Britain with your wife and child and I assume her visa has expired? Stay home and send money until you work something out.

[jackr]

hi would anyone have any ideas of how to make a bit of a living in the land of smiles. i am thinking of moving to cm and would like to keep myself a bit busy. one idea i had was to maybe get a small block of room near to factorys out in the sticks a bit, i have some capital to do this but i wondered if anyone had any other ideas of what to do. and any info on taxes and stuff. hope you can help

120 baht from the airport to town.

Regards making dosh, the Internet is perhaps your best bet if you know what you're doing

[Theyreallrubbish]

Over the years I have seen so many westerners arrive with their life savings, start a business of some type and end up going home broke that I would advise anyone planning to come to live with only a small amount of capital and no idea how to make more money to keep earning the money in their home country until they do figure out a way to reliably make money and have tested it for a while before giving up their western income.

I know you don't want to hear this, but its the best advice I can give to help you avoid being another statistic.

As you're going to ignore this advice I'd say, don't try to do anything the Thais do as they're willing to do it for far less money per month than you can live on. This includes restaurants, bars, farming, retailing, service businesses etc. Unless you think 7000 Baht a month is an acceptable profit.

If you can find something to sell to farang either in Thailand or overseas you're more likely to be able to make a reasonable amount of money than if Thais are your target customers.

If you are going to sell to Thais, then sell something foreign that you have an exclusive license for in Thailand and you may have a chance. If you sell something a Thai can source and sell, they will and they'll sell it cheaper as they're willing to accept lower margins than you as their costs will be lower.

Alternatively have a specialised skill you can sell at a decent rate. This is really tough though unless you're associated with a brand name western firm. (There was a guy who used to be well known in Thailand who offered consulting advice on corporate finance and claimed to work for a major Japanese bank. He had business cards made up showing he worked for the bank. The bank had never heard of him though!)

If you're not associated with or employed by or subcontracted through a brand name multinational then your rates are going to be high by Thai standards but negligable by Western standards. I know a guy who advises corporates on strategy. In the UK he bills for £1000 an hour. In Thailand he's happy if he gets a £500 a day. He's happy because he does the Thai stuff for the connections as he still works in Europe on contracts

[Wrong Turn]

Over the years I have seen so many westerners arrive with their life savings, start a business of some type and end up going home broke that I would advise anyone planning to come to live with only a small amount of capital and no idea how to make more money to keep earning the money in their home country until they do figure out a way to reliably make money and have tested it for a while before giving up their western income.

I know you don't want to hear this, but its the best advice I can give to help you avoid being another statistic.

As you're going to ignore this advice I'd say, don't try to do anything the Thais do as they're willing to do it for far less money per month than you can live on. This includes restaurants, bars, farming, retailing, service businesses etc. Unless you think 7000 Baht a month is an acceptable profit.

Agree.

If you want to dabble in some business practice, do it in your home country, where there is protection.

Or,

Make sure you can afford to lose the money, and not lose sleep over it.

Plan ahead, set yourself up before you come to LOS, in my opinion.

[Dave the Dude]

Over the years I have seen so many westerners arrive with their life savings, start a business of some type and end up going home broke that I would advise anyone planning to come to live with only a small amount of capital and no idea how to make more money to keep earning the money in their home country until they do figure out a way to reliably make money and have tested it for a while before giving up their western income.

Hi chazzer

IMO This guy has sound knowledge of the real world in LOS.

I dont know how well you know Thailand. I came here with the firm understanding that I will never get rich here and will however, try to make my life Happy and Easy. My cash went on setting up a Minimart for the wife to work in. Yearly Tax is about is about the same as I used to pay PER DAY in London and I busy around getting supplies daily (no work permit ) and keeping our local customers happy. That is a good way of intergrating into the rural community and I look at it as an investment in my future. There is always things to do around the house (YES, its in her name) and I know the horror stories about us clever ferangs losing everything, but IMO its just 'bricks.'

If I had had greater funds in the UK, I would have done the same thing BUT invested IN THE UK to obtain income to be used IN THAILAND.

Chazzer, I wish you luck and suggest you spend time on this forum cos its the best source of info about Thailand there is( its sometimes funny too)

Dave

[PeaceBlondie]

hi would anyone have any ideas of how to make a bit of a living in the land of smiles. i am thinking of moving to cm and would like to keep myself a bit busy. one idea i had was to maybe get a small block of room near to factorys out in the sticks a bit, i have some capital to do this but i wondered if anyone had any other ideas of what to do. and any info on taxes and stuff. hope you can help

chazzer, could you give us some more background, please? Have you been to Thailand and Chiang Mai much, and recently? Do you have a specialty that would be in high demand? Something about your intentions, without our readers having to review your prior posts? How much capital are you willing to invest (and lose), in millions of baht? Do you have adequate additional income or capital, so that you needn't live off the net profits from the business during its start-up years? How many hours per month of personal time will you devote to this endeavour?

[Prakanong]

Over the years I have seen so many westerners arrive with their life savings, start a business of some type and end up going home broke that I would advise anyone planning to come to live with only a small amount of capital and no idea how to make more money to keep earning the money in their home country until they do figure out a way to reliably make money and have tested it for a while before giving up their western income.

I know you don't want to hear this, but its the best advice I can give to help you avoid being another statistic.

As you're going to ignore this advice I'd say, don't try to do anything the Thais do as they're willing to do it for far less money per month than you can live on. This includes restaurants, bars, farming, retailing, service businesses etc. Unless you think 7000 Baht a month is an acceptable profit.

If you can find something to sell to farang either in Thailand or overseas you're more likely to be able to make a reasonable amount of money than if Thais are your target customers.

If you are going to sell to Thais, then sell something foreign that you have an exclusive license for in Thailand and you may have a chance. If you sell something a Thai can source and sell, they will and they'll sell it cheaper as they're willing to accept lower margins than you as their costs will be lower.

Alternatively have a specialised skill you can sell at a decent rate. This is really tough though unless you're associated with a brand name western firm. (There was a guy who used to be well known in Thailand who offered consulting advice on corporate finance and claimed to work for a major Japanese bank. He had business cards made up showing he worked for the bank. The bank had never heard of him though!)

If you're not associated with or employed by or subcontracted through a brand name multinational then your rates are going to be high by Thai standards but negligable by Western standards. I know a guy who advises corporates on strategy. In the UK he bills for £1000 an hour. In Thailand he's happy if he gets a £500 a day. He's happy because he does the Thai stuff for the connections as he still works in Europe on contracts

Excellent points.

1000 GBP per hour - or do you mean day?

McKinsey and BCG do not bill that much

Edited December 12, 2007 by Prakanong

[chicowoodduck]

I noticed no one is selling portable space heaters yet. You could corner the market.

If you listen carefully to Al Gore, it's not the space heaters you will be needing in LOS, it will be snorkles and fins!

[naka]

hi would anyone have any ideas of how to make a bit of a living in the land of smiles. i am thinking of moving to cm and would like to keep myself a bit busy. one idea i had was to maybe get a small block of room near to factorys out in the sticks a bit, i have some capital to do this but i wondered if anyone had any other ideas of what to do. and any info on taxes and stuff. hope you can help

I honestly think that if you need to ask this question then you're behind the eight ball from the get go !

Naka.

[percy2]

Over the years I have seen so many westerners arrive with their life savings, start a business of some type and end up going home broke that I would advise anyone planning to come to live with only a small amount of capital and no idea how to make more money to keep earning the money in their home country until they do figure out a way to reliably make money and have tested it for a while before giving up their western income.

I know you don't want to hear this, but its the best advice I can give to help you avoid being another statistic.

Completely agree with the above.

As you're going to ignore this advice I'd say, don't try to do anything the Thais do as they're willing to do it for far less money per month than you can live on. This includes restaurants, bars, farming, retailing, service businesses etc. Unless you think 7000 Baht a month is an acceptable profit.

If you can find something to sell to farang either in Thailand or overseas you're more likely to be able to make a reasonable amount of money than if Thais are your target customers.

If you are going to sell to Thais, then sell something foreign that you have an exclusive license for in Thailand and you may have a chance. If you sell something a Thai can source and sell, they will and they'll sell it cheaper as they're willing to accept lower margins than you as their costs will be lower.

Completely disagree with this bit, the most successful foreign and Thai business men didn't get that way by ignoring 99% of the potential market.

Alternatively have a specialised skill you can sell at a decent rate. This is really tough though unless you're associated with a brand name western firm. (There was a guy who used to be well known in Thailand who offered consulting advice on corporate finance and claimed to work for a major Japanese bank. He had business cards made up showing he worked for the bank. The bank had never heard of him though!)

If you're not associated with or employed by or subcontracted through a brand name multinational then your rates are going to be high by Thai standards but negligable by Western standards. I know a guy who advises corporates on strategy. In the UK he bills for £1000 an hour. In Thailand he's happy if he gets a £500 a day. He's happy because he does the Thai stuff for the connections as he still works in Europe on contracts

Back in agreement.

Cheers

Edit : to clarify which parts I was commenting on.

Edited December 12, 2007 by percy2

[chazzer]

hi would anyone have any ideas of how to make a bit of a living in the land of smiles. i am thinking of moving to cm and would like to keep myself a bit busy. one idea i had was to maybe get a small block of room near to factorys out in the sticks a bit, i have some capital to do this but i wondered if anyone had any other ideas of what to do. and any info on taxes and stuff. hope you can help

chazzer, could you give us some more background, please? Have you been to Thailand and Chiang Mai much, and recently? Do you have a specialty that would be in high demand? Something about your intentions, without our readers having to review your prior posts? How much capital are you willing to invest (and lose), in millions of baht? Do you have adequate additional income or capital, so that you needn't live off the net profits from the business during its start-up years? How many hours per month of personal time will you devote to this endeavour?

hi yes i have been to cm about 7 times over the last 3-4 years so i kinda of know what your up against, i have had couple of ventures back here in the uk and been fairly lucky with them one being antiques shop. this is something i would not just rush into but but its great to get some ideas of what one could do, all of your feed back as been great and i loved the idea of the space heaters. no i have a bit of sorting out to do here first but i feel i need to plan for future and before this cold weather kills me.

[ercorn]

I dont think many people know this but most Souvenirs sold in Thailand are made in China also many other items .When I am in China I meet many Thais buying goods and selling them in BKK shops.I realise there are customs issues the Thais are paying 90 baht a kilo to have their goods shipped door-to-door.

Maybe there is a business opportunity there.

[peter991]

I have noticed a number of farangs based in Thailand selling souvenirs on eBay Australia. Usually it's Thai silk, gold (and fake gold) jewellery and shirts.

Peter

[blizzard]

theres a reason y a lot teech engrit.

one doesnt open a buznit and just start making munney.............lol.