Looking For Business For Sale

[chelford67]

We absolutely love Koh Samui and have been looking for a business to buy. We recently found our dream business in our perfect location, a bungalow resort on Bangrak beach. It was run down but something we could put some effort into.

My husband booked his flight to have a look round only to find it was in the process of being sold and we are gutted, as we were mistakenly told it was still available only the day before.

We realise the best way to find businesses is to be in Koh Samui as many businesses are taken before they are advertised, but it is not possible at the moment although we can fly out immediately to view the right business.

If anyone has or hears of anything for sale up to 7.5 million baht, we would be very grateful if you could let us know.

Edited January 15, 2005 by chelford67

[pyros]

We absolutely love Koh Samui and have been looking for a business to buy.  We recently found our dream business in our perfect location, a bungalow resort on Bangrak beach.  It was run down but something we could put some effort into.

My husband booked his flight to have a look round only to find it was in the process of being sold and we are gutted, as we were mistakenly told it was still available only the day before.

We realise the best way to find businesses is to be in Koh Samui as many businesses are taken before they are advertised, but it is not possible at the moment although we can fly out immediately to view the right business.

If anyone has or hears of anything for sale up to 7.5 million baht, we would be very grateful if you could let us know.

<{POST_SNAPBACK}>

Hi , first post for me so ...

Best is to be there , like you mentioned yourself but there are other options . When you like Samui , there is a good chance you know quite a lot people up there , falang and Thai . Especially the people who are running a business are interesting , because like everywhere in Thailand they have a " network" ( mouth to mouth ) . So next time you are there , speak to your friends up there ( use the people who you thrust ) and let them spread the word and contact you if there are good offers around . If you work like this , you'll get the info faster then the For Sale sign at the door . Even speak to some of the businesses you like . There is always a good chance they want to sell at the right price . I a very regular visitor in Samui ( about 3 months a year ) and i get info all the time i'm there ( like i said the rumour network from friends ) .

[chelford67]

Hi thanks for the message, sorry it has taken me awhile to reply. Yes I know you are right. We have contacted friends there but we are sadly getting no reply, not sure if we have got the correct email address or they are just busy.

[pyros]

Hi thanks for the message, sorry it has taken me awhile to reply.  Yes I know you are right.  We have contacted friends there but we are sadly getting no reply, not sure if we have got the correct email address or they are just busy.

<{POST_SNAPBACK}>

Yep , always the problem ... no time , busy , busy , busy .... those people back in Thailand seriously need to relax . That's why most of the time , when i really need answers or something solved i use the telephone . Internet/email is fine for not urgent replies . Can be the email adress is wrong , but most of the time it is just that people don't really bother to read it ( understandable , i suffer the same problem when i'm there ) . Especially like it is high season now and i hear it is pretty busy , the email gets pushed away a littlebit .

[fisherd3]

We absolutely love Koh Samui and have been looking for a business to buy.  We recently found our dream business in our perfect location, a bungalow resort on Bangrak beach.  It was run down but something we could put some effort into.

My husband booked his flight to have a look round only to find it was in the process of being sold and we are gutted, as we were mistakenly told it was still available only the day before.

<{POST_SNAPBACK}>

I too was looking at property in Ko samui and I was interested in looking at a property via the estate agents www.samuihouseandland.com which I have since read good reports on from other posters, however this property also turned out to be sold , and it would have been impossible in an efficient business that the person I was conversing with within this company not to have known at least that this property was very likely to be sold , if it was not already, but this was never mentioned until I made an offer, while my interest was utilised to take me to see various (few) other properties they had on their books.

I believe this property was in fact a 'come on' and was never available for sale at the price it was put in their shop window.

The moral being I would never deal at arms length i.e. from abroad with anything that could cost me a flight from a long way away , because tit (this is Thailand) and you never know what is going on , even when I was there! and with a supposedly reputable firm in which I had only spoken with westerners.

Not to say similar things would not go on in say the UK or US property market , just get yourself out there and stop dreaming.

Have you read the posts about business on Samui being controlled by a 'mafia' like small group of Thais? seems like this should be understood before diving in.

Edited January 18, 2005 by fisherd3

[pyros]

I too was looking at property in Ko samui and I was interested in looking at a property via the estate agents www.samuihouseandland.com which I have since read good reports on from other posters, however this property also turned out to be sold , and it would have been impossible in an efficient business that the person I was conversing with within this company not to have known at least that this property was very likely to be sold , if it was not already, but this was never mentioned until I made an offer, while my interest was utilised to take me to see various (few) other properties they had on their books.

I believe this property was in fact a 'come on' and was never available for sale at the price it was put in their shop window.

The moral being I would never deal at arms length i.e. from abroad with anything that could cost me a flight from a long way away , because tit (this is Thailand) and you never know what is going on , even when I was there! and with a supposedly reputable firm in which I had only spoken with westerners.

Not to say similar things would not go on in say the UK or US property market , just get yourself out there and stop dreaming.

Have you read the posts about business on Samui being controlled by a 'mafia' like small group of Thais? seems like this should be understood before diving in.

<{POST_SNAPBACK}>

Yes , that's what i hear from most people also . Real estate agents up there , are or unrelieble or cash in huge amount do to the selling of very luxurious places with a maintanance cost which is high enough to put a whole company into your garden alone ( every month ) . That is why you need very good inside info ,with people who are there for themselves and know the ways around the island . It is hard even if you are there , let alone not to be there . It is difficult , but hey , isn't such thing difficult at home also , and then you got Thai laws , dishonest people wanting your money , etc etc . Not easy , for sure ... but there are nice things if you look and have the contacts .

[lek66]

Hi...A good time now to come and look...go for it come and see,time consuming,but you get known...people like to see people showing a personal interest, we are all nice here...lol...good luck, and as i said nothing ventured and all that.....

[snoophound]

Biggest problem in thailand from business purchase perspective is the lack of professional real estate sales people

they are all lifestylers with little real business experience.

My experience has been disinterest in follow up,low level staff left to try and do the job.

They are all playing golf or lying in the sun.

Big gap in the market for some credible professionals.

That said ,these CREDIBLE Professionals have to educate the vendors who aint that credible themselves.

Samui has a couple of good land developers ,but you will pay the premium to cover this.

Business brokers are few and far between.

The usual response is they find it hard to deal with the 800 tyre kickers they get a day.

So be credible ,maybe engage someone competent on a retainer etc etc

Hi...A good time now to come and look...go for it come and see,time consuming,but you get known...people like to see people showing a personal interest, we are all nice here...lol...good luck, and as i said nothing ventured and all that.....

<{POST_SNAPBACK}>

[chelford67]

Thanks for all the help and advice. We have known to be on site was the best approach, but have put it off for various reasons after the last fiasco. I think it time I looked for a flight and came and had a good look around, perhaps wait a little longer for the season to wind down! Thanks again it is much appreciated.

[Khun Jean]

If i may ask, you said you absolutely love Samui. But isn't that from a tourist point of view? Even if you stayed here for a few months.

When you live here it is just another place, although easily better than most western countries.

If this assumption is right i suggest you stay here for at least 6 months before you think about buying a business, buying something that not suits you 100% can change this "paradise" in "h@ll" very quickly.

Not the mention all the hurdles you have to take to be here legally.

--

To give an example about a resort that is not run down. I went to "samui orchid resort" a few days ago, the one close to the aqaurium. I always thought this was a very nice resort and it would make good money. But after walking through it i saw it was almost empty. in high season!!! I feel for those people and hope they do better soon.

If this one was for sale in low season you would not expect this to happen!

--

I have only a small shop, but the red tape was enormous.

The red tape will be even more when you start something bigger, and can you really trust that laywer? or the Thai partners?

Do things slowly and inform yourself of everything before you make the decision to live and work here. In my short time here already seen too many failures.

[taxexile]

Biggest problem in thailand from business purchase perspective is the lack of professional real estate sales people

they are all lifestylers with little real business experience.

My experience has been disinterest in follow up,low level staff left to try and do the job.

They are all playing golf or lying in the sun.

Big gap in the market for some credible professionals.

That said ,these CREDIBLE Professionals have to educate the vendors who aint that credible themselves.

Samui has a couple of good land developers ,but you will pay the premium to cover this.

Business brokers are few and far between.

The usual response is they find it hard to deal with the 800 tyre kickers they get a day.

So be credible ,maybe engage someone competent on a retainer etc etc

what you say about the agents here is very true , dealing with tyre kickers is part and parcel of the job , a good agent or salesperson should see every tyrekicker as a potential client and get to work doing some selling , most agents here have little knowledge of the law or the land title system and spend more time posing with their phones and trucks than researching the properties they are trying to sell.

as for buying a business here , i would want to have been a regular anonymous customer of that business watching what goes on during high season and low season before showing interest in purchasing.