What Kind Of Business Would You Start Or Buy In Los?

[Livinginexile]

I'm thinking of permenantly moving to Thailand and starting a business.

I have no idea what kind of business I would start but a (sex) bar is definately out of the question.

My budget would be around 3 million (not much I know).

I have some income producing realestate so I wouldn't totally be dependant on the business.

Any ideas out there? I would apreciate any ideas.

Thanx all

[actiondell4]

If you have the time and money ,

Funeral Services,

Home cleaning,office cleaning

Debt collection services

loan office/ pawn broker dealer

fish and chip shop

depends on how much money you have to start a business OP?

[simon43]

What job you do depends on so many factors! From my past experiences (good and bad), I would opt to run some form of hotel or guesthouse or homestay business, where you can also live in the place that is earning you money.

In the big cities, you are going to compete with many other guesthouses. Where do you intend to live? If you are more of a rural type, then you could rent (long-term) a nice plot of land, build some bungalows, live in one of them and rent out the others. Choose a nice, idyllic location, add in some good internet marketing and professional photos for your website and you can enjoy a good income.

Simon

[Pakeha]

That's a very good question livinginexile. It sounds like you are going about it the right way too - with investments overseas.

I would probably go into something with a longer term view - i.e. not looking to make a profit from day one but gradually develop the business over time.

What about investing in thais themselves? You could do a bit of a dragons den type scenario where you invest your money and they invest their time. I intend to do this in the future. I would like to build a resort in an area where there are no tourists currently and set up local thais with businesses to service the tourists when (if ) they come.

I think this would give many families a good income and contribute to the local community. Of course many TV members will say I'm mad, it'll never work, they'll shoot me etc etc... But hey - I'm here for a good time not a long time .

I hope you keep us updated with what you do.

[Livinginexile]

What job you do depends on so many factors! From my past experiences (good and bad), I would opt to run some form of hotel or guesthouse or homestay business, where you can also live in the place that is earning you money.

In the big cities, you are going to compete with many other guesthouses. Where do you intend to live? If you are more of a rural type, then you could rent (long-term) a nice plot of land, build some bungalows, live in one of them and rent out the others. Choose a nice, idyllic location, add in some good internet marketing and professional photos for your website and you can enjoy a good income.

Simon

G'day Simon, how are you these days?

I have thoght about home stay type business startup too. Maybe buying a bit of land somewhere and building some cabins and then marketing the hel_l out of it.

I had an invester allmost signed up a few months ago but the global financial situation knocked the crap out of him so he had to back out for the time being

It would be more just to keep me occupied and busy. I stayed in Thailand for 6 months once, the first few months were great but then I got bored. I am not one of those that like to hang around pubs and bars and be happy doing that. I very much need something to keep me occupied otherwise I would go up the wall!

3 million baht would be my budget and I would not need to depend on the business producing income for a while.

I hope all is well for you mate

[simon43]

Hi - good to chat again Life is much as before but hopefully going to get better soon - I'll let u know...

Why go to the expense of buying the land when you can rent it for 30 years with a lease contract that is registered at the local land office (hence secure lease so long as you pay the rent each month!).

You can run your business without the extra start-up costs of buying the land. After 30 years, (if you are still on this planet), then you can either renew your lease if the landlord agrees or simply rent another piece of land nearby and relocate your bungalows...

If you like the rural lifestyle but still want a flow of visitors, then why not build a homestay on the banks of the Mekong River, just near Nong Khai, (I have seen several riverfront plots for rent there). You can benefit from the passing trade of visa-runners and tourists going to Laos whilst enjoying a beautiful river view.

Simon

Edited February 28, 2009 by simon43

[soundman]

Take some advice from somebody who has done it.

If you are not a specialist, or do not have a proven track record in your field of business endeavour, spend at least 12 - 18 months investigating every aspect of the business you want to get into.

Leave the 3 mil in a term account where you have to give three months notice to get it out. This will help you stop making the mistake of rash, spur of the moment decisions that will most likely come back and ream you out of your savings.

[keestha]

OP,

You could look into opening a language school in a city where there still isn't one. Higher class Thais are interested in having their offspring learn good English, which they will not in the regular schooling system. Could be difficult to obtain a licence to open a school though, posters in the teachers forum will know more about this.

[Travel2003]

One word, Alcohol.

Alcohol for younger people.

Well, maybe a bit more.

Entertainment for Thais, not foreigners.

The Thai youngsters are getting more and more like the youth in the rest of the world.

They want to go out and have a good time.

They want entertainment (most still prefer live music), alcohol, and food.

They spend more and more of their salaries on entertainment and various gadgets, as phones, etc.

[Mattchu9999]

What do you ENJOY doing?

Find something related to what you do when your not "working".

Running a business related to something you enjoy means it stops being work, and you will provide more effort towards this business as its something you enjoy.

[Livinginexile]

Hi - good to chat again Life is much as before but hopefully going to get better soon - I'll let u know...

Why go to the expense of buying the land when you can rent it for 30 years with a lease contract that is registered at the local land office (hence secure lease so long as you pay the rent each month!).

You can run your business without the extra start-up costs of buying the land. After 30 years, (if you are still on this planet), then you can either renew your lease if the landlord agrees or simply rent another piece of land nearby and relocate your bungalows...

If you like the rural lifestyle but still want a flow of visitors, then why not build a homestay on the banks of the Mekong River, just near Nong Khai, (I have seen several riverfront plots for rent there). You can benefit from the passing trade of visa-runners and tourists going to Laos whilst enjoying a beautiful river view.

Simon

That's interesting Simon, I never realised one could relocate assets set up on leased land.

I allways assumed the owner would get all physical assets built on their land!

How secure is a 30 year lease? can a landlord reposes when he sees a good viable business on his land?

Interesting

[simon43]

Linvinginexile, if your land lease is registered with the local government land office, (which it should be if it's for more than 3 years), then so long as you keep paying the rent as stipulated in the lease contract, your landlord cannot throw you off the land if he decides to do something else with it. Your name will be written on the back of the Chanote land document as อยูเช่า (literally 'stay to rent' I think..). A 'farang' can rent land and have his/her name registered on the Chanote.

Since you have only rented the 'bare' land, any business that you build on that land is yours, and does not have to be surrendered to the landlord when the lease expires. It's your business and assets and you are legally entitled to remove them all, (so long as this is not restricted by a term in the land lease).

Also, you should make sure that the land lease does not apply any other restrictions to the business that you build on the land, and you should especially not be restricted if you want to sell your business on that land or sublet etc.

Simon

Edited February 28, 2009 by simon43

[Maverell]

None

[dave9988]

how is 3 million baht "not alot" of money in Thailand to open a business? minimum wage is like 20 baht an hour. our roof was recently redone in our condo and it was 10k baht for a 2 day 16 hour job. why would 3 million baht not be enough depending on whatever biz op has in mind?

[torrenova]

I would look at either low inward costs such as providing a service or if putting in more capital, then try to make sure that your business has more than one income stream.

For instance, a guest house has at least 3 income streams (or should): rooms, food and drinks. A bar often only has one: drinks.

[simon43]

Torrenova is correct re income streams. When I built my hotel, there were 10 guest-rooms but only 2 were furnished! I started taking in customers for these 2 rooms, selling them food and drink as well, and then used this income to step-by-step finish and open the other guest rooms.

Simon

[Gravelrash]

I'm thinking of permenantly moving to Thailand and starting a business.

I have no idea what kind of business I would start but a (sex) bar is definately out of the question.

My budget would be around 3 million (not much I know).

I have some income producing realestate so I wouldn't totally be dependant on the business.

Any ideas out there? I would apreciate any ideas.

Thanx all

All well and good to nominate your start up capital, but what about the just as important (and often forgotten) working capital, is that included or separate? As a rule of thumb expect to not make money 6-12 months so make sure that is covered.

Also what sort of return are you looking for? As you already have real estate investments I assume you are pulling at least 8 - 12% there. Business is a higher risk so what return on investment are you wanting? Assume 20 - 30%? If so, you had better do your numbers and enter a niche market or if chasing a mature market, what is your tactical advantage, location, service etc?

Finally do some research on what businesses flourish in a recession, they do exist. Just as in war many made their fortunes in bad times.

[Digitalman]

One word, Alcohol.

Alcohol for younger people.

Well, maybe a bit more.

Entertainment for Thais, not foreigners.

The Thai youngsters are getting more and more like the youth in the rest of the world.

They want to go out and have a good time.

They want entertainment (most still prefer live music), alcohol, and food.

They spend more and more of their salaries on entertainment and various gadgets, as phones, etc.

I've thought a lot about this... wouldn't have the guts to do it (or the capital)

[actiondell4]

mmmm......I dont know if 3 mill wil be enough.

Just saw this link to buying a business or two,both have been running only a few months yet they want 4 mill.

www.euroboys.asia

[Birdman]

open an english or german or swiss...restaurant in the centre of one of the wealthy province capitals like Chantaburi

[JUDAS]

I have a couple of shops here doing the most obvious tourist business, motorbike rental. The common belief many people have about this business is that there's no money to be made. Wrong. Started around 3 years ago with a handful of bikes and now around 60 including atv's etc. I don't invest in new stock unless I'm guaranteed a return in less than a year and as already mentioned here, it provides more than one income stream. People renting bikes etc also need onward travel so I sell boat, plane, train tickets etc.

As a start up it's not a bad option, if things don't work out you can always sell your stock of bikes a recoup a fair bit of your investment.

[teletiger]

"But hey - I'm here for a good time not a long time "

Forget "Amazing Thailand". If it's yours, copy write it quick. Great phrase. Thailand to a tee.

Regards.

[CarlBkk]

Produce a Thai "trigger happy TV" series using foreigners and Thais playing harmless practical jokes and testing reactions. Nothing like it here. I imagine it to be like Candid Camera was back in the 80s...simple but very much appreciated as "new humour" by the Thais.

I'll invest in it!

[ChiefMonkey]

Probably the best thing you can do is give it to your wife or girlfriend.

Then, kiss it goodbye!

If you stay with her, you have probably made a wise investment on your family's behalf.

If not, well, you would have spent it anyway!

[GungaDin]

A school for Thai Plumbers & Sparks (handymen) Teaching basics & safety:)

You would need govt backing as most thais couldn't afford the fees.

Maybe big business could sponsor applicants?

[buffaloe]

livingin exile,first of all i think you need to get your visa in order.as i have said to daveman in one of my other post i think putting in a pond would be a real good idea,but you need to live on the land or you have the fish stolen from you.since you have a lot of capital you may be able to set up a fish camp.look at mega fishing in thailand .i think there is one near bkk that has 30 ponds i believe.i think one place you can get info is from khon kean university.i believe there are other areas that also can help you out.i my self will be in thailand at the end of july.i have not done this myself as of yet ,but i plan on doing this when i get to thailand.just making a suggestion. p.s. not a fish camp ,but a pond to sell fish.

[zorro1]

"I stayed in Thailand for 6 months once, the first few months were great but then I got bored"

No hope for you man

How you been, where are you these days? did you lose your day job or you want to semi retire?

[malzy]

Hi all

just wondering about 30 year lease, say the owner dies before the lease expires, what happens with the lease then? I assume you have lost your contract and its then up to the owners heirs, family to deal with.

If so then the continuation of your business would be dependant on their decision what to do with the land.

Cheers Malzy

[simon43]

AFAIK, the lease does not 'expire' when the landowner 'expires'. Their heirs are required to honour the remainder of the lease period. But of more importance is that the lease will expire when the lessee expires (if the lease is in your personal name). So if you lease the land and build a highly successful business, then you may find yourself dead in a ditch and your business taken over by the landowner!

To avoid this, sign the lease in the name of a Thai ltd company, where you are the controlling shareholder. If you die, the Thai company has not died, and so the lease simply continues as before.

Simon

[chiangmaibruce]

To avoid this, sign the lease in the name of a Thai ltd company, where you are the controlling shareholder. If you die, the Thai company has not died, and so the lease simply continues as before.

Simon

OR

insert a clause in the lease that (should you die) the rights are transferred to your next of kin (or whoever)