Question For Farang Business Owners

[MSingh]

Interesting how many people think that to own a successful business does not require long hours put in by the owner. My sister (in the US) started a publishing business from nothing and, after 6 years, has a growing magazine but she still has to put in long hours. It is the nature of being an entrepreneur. You want an easy job and an easy life then go work for someone else who has put in the long hours and hard work to make their business grow.

So very true..

To answer the original question though, some of us have a lot here, Families, Properties & even like/love the place. To be with our Families full time means we have to work here & have Businesses.

If i didn't have a Family here, i wouldn't be here but re location is probably too much in my specific situation of which everyone has a situation that they're quite unique to.

[Mark Wolfe]

I have been running a successful business in Thailand for almost 20 years. I make money, pay my taxes ans have savings, hard work yes, worth it yes.

Whatever your business is (what is it?) I would hazard a guess that things are very different apropos starting a business in Thailand as a foreigner now than it was 20 years ago. 20 years ago you could have sold almost anything in Samui and had a monopoly, if you could find any tourists to sell to...

I don't think this fellow's experience is comparable to starting up today.

[MSingh]

I have been running a successful business in Thailand for almost 20 years. I make money, pay my taxes ans have savings, hard work yes, worth it yes.

Whatever your business is (what is it?) I would hazard a guess that things are very different apropos starting a business in Thailand as a foreigner now than it was 20 years ago. 20 years ago you could have sold almost anything in Samui and had a monopoly, if you could find any tourists to sell to...

I don't think this fellow's experience is comparable to starting up today.

I make you right Mark. Out of curiosity, if people did have that monopoly that Mark mentions, what would you have started up ??

[shakeydave]

After just reading a thread 5 pages long I have this question for all farangs who own a business on Samui.

Why do you own a business on Samui if life is so tough and no money can be made

I have read several threads regarding people coming on to the Thai Visa forum asking questions that should help them decide whether a business makes sense and all the OP gets is doom and gloom replies.I have no doubt that if tourism was so bad on Samui the place would be like a ghost town 365 days of the year but as it is the facts are the reverse with tourism going up in Asia and more so in Thailand and the Islands.

It seems to me that those that live and work on Samui and other areas of Thailand only want to keep the slice of pie that they have and will do everything to put off anyone with an idea of starting up a business that may impact on there bottom line.Nobody would come to Thailand and invest if it was as bad as some describe,so Iwould ask those that answer an honest question to be nice to those that ask instead of being over sensitive to your own greed. Remember you were all asking the same questions when you started to look for a business and some of you will have posted questions on this site for good honest advice.

A good business will work anywhere and a bad business will fail everywhere.

Hope the weather gets better soon.

Shakeydave

A good business will work anywhere and a bad business will fail everywhere.

So using your above brilliant inntellect, does that mean my sucessful tanning salon business in Manchester will be equally sucessful in Samui?

NB My scuba diving business in manchester is going under fast.

And nobody said to you that learning to dive in the nice cold waters of the ship canal compared to the likes of the Indian Ocean would be more appealing???????

My point was that if you work at it and research your market and set your prices out to compete then a business will work anywhere as it is down to your own business skills along with a bit of luck.

[Mark Wolfe]

Monopoly is probably the wrong word, maybe cornered the market, for at least a while. Like being the first Italian restaurant, or having the only bead and bangle shop.

Twenty years ago, opening a bar would have been fun. I know a couple of people who tell stories of Lamai from about that long ago and the couple of watering holes that were here.

If I could go back in a time machine, I'd buy land along the beach road, particularly at the intersection where the Outback is now.

And if I could get some beachfront land, that might be useful too....

Oh, and maybe I could have been the first to build an airport, and not let anyone else use it but me!

[anthos]

I doubt that many people would share their success stories here for taxes and security reasons etc. and because of competition in many areas of toursim industry

Would you want anyone to read your story and become your competitor the next day?

Even the guy with the 20y/o business who pays taxes etc doesn't say a word about the nature of his business

Don't expect inspiring examples here, but you may hear lots of complaints, even from those who succeeded - it's a part of asian business practice too btw, they would tell you everythings too bad no matter how good they're doing )

Edited May 2, 2008 by anthos

[BigC]

Interesting how many people think that to own a successful business does not require long hours put in by the owner. My sister (in the US) started a publishing business from nothing and, after 6 years, has a growing magazine but she still has to put in long hours. It is the nature of being an entrepreneur. You want an easy job and an easy life then go work for someone else who has put in the long hours and hard work to make their business grow.

yes u don't make money by spending money the less u spend on your business the better. i knew someone who had a resturant in bohput with 2 tables. as business grew he put some more in then more then refurbished now has a kick ass style resturant sold it and left

[SamuiJens]

Interesting how many people think that to own a successful business does not require long hours put in by the owner. My sister (in the US) started a publishing business from nothing and, after 6 years, has a growing magazine but she still has to put in long hours. It is the nature of being an entrepreneur. You want an easy job and an easy life then go work for someone else who has put in the long hours and hard work to make their business grow.

yes u don't make money by spending money the less u spend on your business the better. i knew someone who had a resturant in bohput with 2 tables. as business grew he put some more in then more then refurbished now has a kick ass style resturant sold it and left

The reason he sold was he made on it, by BUYING some more tables, etc. who wood go eat at a dump of a resturant?

Edited May 11, 2008 by SamuiJens

[Ubon9]

Looking at the number of business for sale in samui (sunbeltasia) I believe there isn't much money going around on the island.

[2008bangkok]

You have to ask yourselfs if its a bar or restraunt or something if it could make money then why would the Thai person rent it in the 1st place his outgoings would be a lot less than yours and he still wants to lease it out..

[southbot]

Why I run business on Samui?

Because:

1. life ain't tough

2. make as good money as back home for the hours worked

3. cost of living much less than back home

4. beaches better than back home

5. beer is cheaper than back home

6. people smile more here than back home

7. cops are far more laid back than back home

8. etc etc could write a book

cheers / cya

[shakeydave]

Why I run business on Samui?

Because:

1. life ain't tough

2. make as good money as back home for the hours worked

3. cost of living much less than back home

4. beaches better than back home

5. beer is cheaper than back home

6. people smile more here than back home

7. cops are far more laid back than back home

8. etc etc could write a book

cheers / cya

Thanks Southbot,

That reply is as honest as it gets.My point of this thread was to try and get into the minds of the so called doom and gloom agents over there in Samui.I have been going to Thailand now for the best part of 15 years for holidays and long stays and I will settle down there in the next few years after my boy finishes his schooling back here in ripp off Britton and it is my intention to buy into or buy a small business that said I know I can't just turn up and expect to make wads of cash I know I will have to work at it just like I do with my own business back home.

Thanks for all the replies and I still have to ask some of you WHY DID YOU BOTHER.

Shakeyd

[JayBpool]

Hi my view is this,

If you look at sunbeltasia.com

You will see hundreds of company’s for sale all over Thailand (just did a search for samui and over 1,000 companys for sale) what does this tell you???

a) There is so much money to be made in samui that everyone is selling there business to retire and take it easy with all the stacks of cash they have made

Many people thought they could live the dream after a few months years they realised SH*T what have i done i am now skint and will need to teach english or go home?

This is no dig at the people who have done this its a shame that none of these people are still on the forums to tell us of these experience’s. The amount of company’s for sale should tell you they are all struggling all of them have the same reason 'want to take care of other business interests in thailand' etc etc.

ANY business that makes money is owned by thais and always will be as they will never sell it. Ok i am sure that few people have made and good luck and respect to you.

I run a business here in UK make quite a good living, i have a thai wife child etc have lived in Thailand for approx 3 yrs over the 7 we have been together partly in Lami.

If you have never run a business before you will find it a lot more difficult than your homeland. i have several ideas for when i do live in Thailand none that haven't been done before or that will make lots of money.

While i has in Bkk i was selling all the thai tack on ebay it takes a few months to get going but once it was running i was making around £1k - £1.5k a month some months less but it was quite simple not to much expense and not really to much chance of losing my money. A safe bet. Don’t all be asking what i was selling as it was what ever was hot at the time. Also i wholesaled items as well. Also bought items from England ie: concert tickets.

My point is rather than do what thousands have done. Why not keep it simple and safe unless of course you have money to lose.

I guess business may be another area where us westerners leave our brains back home??

[Rooo]

The old saying, train them don't blame them.

[SamuiJens]

The old saying, train them don't blame them.

Sorry Rooo, train the Thai's or Farang business men?

One of those daze!?! I guess.

Edited May 15, 2008 by SamuiJens

[Rooo]

The old saying, train them don't blame them.

Sorry Rooo, train the Thai's or Farang business men?

One of those daze!?! I guess.

Ok ,now you got me.What is a Daze?Days? In a daze?

[SamuiJens]

The old saying, train them don't blame them.

Sorry Rooo, train the Thai's or Farang business men?

One of those daze!?! I guess.

Ok ,now you got me.What is a Daze?Days? In a daze?

Sorry,Rooo, train who?

[Rooo]

The old saying, train them don't blame them.

Sorry Rooo, train the Thai's or Farang business men?

One of those daze!?! I guess.

Ok ,now you got me.What is a Daze?Days? In a daze?

Sorry,Rooo, train who?

Train the staff,as previous poster mentioned,not enough time is spent on trainning.

[PoorSucker]

Why so business for sale?

Many of the sellers know that their business is worth let's say 2 MBt.

They put it for sale for 4 Mbt, because there is a sucker on every plane.

Then they by another place worth 2 Mbt.

[N47HAN]

Well read the first few replies to this thread and....

same same same,

I ask one question for the people that can relate the "gold rush" way back when,

I would imagine NOT the people prospecting for gold ,but the suppliers to wich they had to purchase their wares from became the most profitable ?

Anyone care to disagree ?

[frankman]

I want to stay with my family here, so I work 70hrs. But it IS worth it!!!

[Samuian]

The people you see here with money, probably made it elsewhere and just use it here to run a business almost at cost.

Wrong, sorry... it might be true to a certain extend, but never the less it's a generalization!

There are (business) people on Samui, who came with money, who made money and the ones of course who came with money and gone with none!