Business In Thailand

[bonviveur]

What kind of businesses would I be able to afford with 100k to 150k cash, I am planning on moving to LOS in the next couple of years. I am mostly interested in owning and running a small appartment complex (can farang own such business) or buy into a franchise system since I have never run a business before.

What are my options? Bangkok is not my top choice of location but I understanding it may be a better choice depends on which venue I choose.

Any comments are welcome

Bonviveur

[dr_Pat_Pong]

What kind of businesses would I be able to afford with 100k to 150k cash, I am planning on moving to LOS in the next couple of years. I am mostly interested in owning and running a small appartment complex (can farang own such business) or buy into a franchise system since I have never run a business before.

What are my options? Bangkok is not my top choice of location but I understanding it may be a better choice depends on which venue I choose.

Any comments are welcome

Bonviveur

<{POST_SNAPBACK}>

What currency is that ?

[Ajarn]

A pitiful amount of money (assuming baht), moving to a foreign culture to start a business, with zero experience...

How much will you need? A lot more than that, for sure, unless you want an Amway Franchise or a 3 square metre beer bar somewhere amongst a crowd of similar sleezy little beer joints all vying for the few customers, and the even fewer bahts they're willing to part with. What a great life, huh?

Even if you're talking Sterling, you're still talking huge risks with your lack of experience here, or in business. Plenty of sharks just waiting for new fish like you here...

How much can you afford to lose?

Seriously.

I'd suggest a serious rethink on your plans, especially on the finance side...

The grass isn't always greener on the other side...

Edited January 26, 2005 by Ajarn

[Harmonica]

None! The best, hardest but most profitable business for a NEWCOMER to do in LOS? Do nothing; just watch others who came on the same plane as you, step off and think they are transformed instantly into businessmen -- invest left and right and go broke in a year or two & have their blood pressure skyrocket -- sad, but nobody listens anymore!

[chingy_]

come and live for a year or so, blend in with everybody else, and talk business later.

[Serendipitist]

None!  The best, hardest but most profitable business for a  NEWCOMER to do in LOS?  Do nothing; just watch others who came on the same plane as you, step off and think they are transformed instantly into businessmen --  invest left and right and go broke in a year or two & have their blood pressure skyrocket -- sad, but nobody listens anymore! 

<{POST_SNAPBACK}>

Nope, any man who posts an expectation of oil dropping to $10 a barrel will be listened to. But believed? Hmmm.

Anyway, best of luck (& wisdom!) to BonViveur. And if your business investment should ever become a success, be sure to come back here and let the naysayers know how you did it.

[Digger]

The peoplewho will tell you that you can make a lot of money are generally selling.

The people who make a lot of money, keep stum for fear of somebody copying their idea.

Keep that in mind and disregard half the stuff your told, perhaps even 90% as being absolute garbage.

[Sunbelt Asia]

What kind of businesses would I be able to afford with 100k to 150k cash

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011097

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011308

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011424

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011419

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011373

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011252

http://www.sunbeltnetwork.com/buyers/busin...=BANGKTH0011037

http://www.sunbeltnetwork.com/buyers/busin...d=BANGKTH001358

http://www.sunbeltnetwork.com/buyers/busin...d=BANGKTH001245

The peoplewho will tell you that you can make a lot of money are generally selling.

The people who make a lot of money, keep stum for fear of somebody copying their idea.

Keep that in mind and disregard half the stuff your told, perhaps even 90% as being absolute garbage.

Well said Digger. The reality is a number of businesses do well and a number simply don't. That is where the due diligence and research comes in. Owning a business is simply NOT for everyone.

www.sunbeltasia.com

[Harmonica]

None!  The best, hardest but most profitable business for a  NEWCOMER to do in LOS?  Do nothing; just watch others who came on the same plane as you, step off and think they are transformed instantly into businessmen --  invest left and right and go broke in a year or two & have their blood pressure skyrocket -- sad, but nobody listens anymore! 

Nope, any man who posts an expectation of oil dropping to $10 a barrel will be listened to. But believed? Hmmm.

Anyway, best of luck (& wisdom!) to BonViveur. And if your business investment should ever become a success, be sure to come back here and let the naysayers know how you did it.

Believed? Soy-tenly -- especially if it was the same fellow who said that it would go to $40 (actually went to approx. $55) back when it was around $11 in 1998! .... and then at $42, said it would continue to $60 --- 2nd call wrong by $5 ... so far anyway .. Did I profit from this prescient call? Decent gains, but hardly worth writing home about! Shot myself in the foot twice and got out when I should have stayed in! upteedo!

[Ajarn]

Shot myself in the foot twice and got out when I should have stayed in!  upteedo!     

<{POST_SNAPBACK}>

I've zigged when I should zagged on many occasions. At one point my advice was, "watch me and do the opposite"

[bonviveur]

Sorry I did not mention the currency, it is us dollars. I understand that is best to be there and wait for the right opportunities but I would like to know what to look for before so I don't spend a year looking at a ton of business.

I am not coming to Thailand to make a fortune I can always stay in the USA for that work two jobs and died of a heart attack six month after retirering. I need something that can give enough money to live in the LOS travel in the region, pay for my place save a little money for a rainy day or two and have fun on the weekend and maybe a trip back home every two years or so. Am crazy to think that i could find something in the price range of $100k to $150k and generate enough income to do that?

Bonviveur

[Digger]

Sorry I did not mention the currency, it is us dollars. I understand that is best to be there and wait for the right opportunities but I would like to know what to look for before so I don't spend a year looking at a ton of business.

I am not coming to Thailand to make a fortune I can always stay in the USA for that work two jobs and died of a heart attack six month after retirering. I need something that can give enough money to live in the LOS travel in the region, pay for my place save a little money for a rainy day or two and have fun on the weekend and maybe a trip back home every two years or so. Am crazy to think that i could find something in the price range of $100k to $150k and generate enough income to do that?

Bonviveur

<{POST_SNAPBACK}>

Think of something you know and enjoy - I have considered restaurants and I like to eat to eat good food, but realise I know nothing about managing a restaurant. Also the hours that you need to work - sounds like you want to go travelling - not many businesses where you can do that for extended periods unless you built up a huge staff of trusted managers, all of whom cost money. The other option is to go into partnership but again, you need to find someone you trust and who;s working style is agreeable to yours. Not easy to do. Many people who's company I enjoy, I could not work with and I am sure its the same with them.

[bonviveur]

Thank you Digger

[Harmonica]

>>>>>> I am not coming to Thailand to make a fortune I can always stay in the USA for that work two jobs and died of a heart attack six month after retirering. <<<<<<

>>>>>> I need something that can give enough money to live in the LOS travel in the region, pay for my place save a little money for a rainy day or two and have fun on the weekend and maybe a trip back home every two years or so. Am crazy to think that i could find something in the price range of $100k to $150k and generate enough income to do that? <<<<<<<

Now that you've cleared things up a bit -- couldn't agree more; sure you can find something. Best of luck!

[Sunbelt Asia]

Am crazy to think that i could find something in the price range of $100k to $150k and generate enough income to do that?

[/quote

You are not crazy. $100K should get you $40,000 discretionary owners earnings a year.

This mini-mart for instance

BKK11455G - A Bangkok Mini-Mart, that draws around 1,200 customers every day of the week, has become available due to the upcoming relocation of the owner. At present he operates the business as an absentee owner, in other words the business runs itself, with ex Seven Eleven employees managing the store professionally. This leads to annual profits of 1,900,000 baht, from receipts of 31,500,000 baht. The success of the shop is mainly due to the top location, with high foot traffic apparent morning noon and night. This business therefore represents a great opportunity for an investor who didn’t wish to adopt a hands on approach; the new owner could simply sit back and count the takings, with the POS system in place and good management.

We received the listing on Thursday and yesterday less than 24 hours later it’s under contract and going to closing on Feb 15th. The buyers knew the mini-mart already and how busy it was. ( in the top 8% of gross sales compared to all 7-11 stores) Their bid was 2.8 million plus the cost of inventory ( max 800,000 Baht) and was accepted. On a 3.6 million Baht investment, if history is a guide, they will make 1,900,000 Baht per year. They already have reviewed and approved the lease and have approved the financials last night so no major conditions left to be met. This was a very easy business transfer as it was obvious that this store was a gold mine. Most business transfers are not as clear, you have to take your time to research. Are their businesses for sale making money? Absolutely!

www.sunbeltasia.com

[Serendipitist]

Am crazy to think that i could find something in the price range of $100k to $150k and generate enough income to do that?

You are not crazy. $100K should get you $40,000 discretionary owners earnings a year.

This mini-mart for instance

<snip>

. On a 3.6 million Baht investment, if history is a guide, they will make 1,900,000 Baht per year. They already have reviewed and approved the lease and have approved the financials last night so no major conditions left to be met. This was a very easy business transfer as it was obvious that this store was a gold mine. Most business transfers are not as clear, you have to take your time to research. Are their businesses for sale making money? Absolutely!

www.sunbeltasia.com

<{POST_SNAPBACK}>

While it cannot be denied that the above looks promising, nonetheless:

"...if history is a guide..."

Sunbelt, what's your take on the 'Social Order' campaign particularly as regards profits on restaurants et al, & perhaps to a lesser extent - stores like Seven Eleven, mini mart etc..

I sat in a very busy mostly farang populated restaurant the other day and noted many a farang drinking bottled water with their meal at 2.15pm rather than the beer many (including myself) would have been drinking a year ago. To my knowlege, alcohol sales can make up the vast bulk of profits in a western restaurant - so would it be fair to presume a certain percentage of former yearly profits would be lost due to same?

And what if the great powers above declare the Social Order campaign to be a 'success' and further extend it by prohibiting all alcohol sales before e.g. 6pm?

Wouldn't it be prudent, at present, to view the figures for past sales in affected businesses and re-forecast or readjust one's estimates by a certain percentage for future earnings with this very real uncertainty borne in mind in all affected trades?

Thank you for your comments.

[Sunbelt Asia]

"Wouldn't it be prudent, at present, to view the figures for past sales in affected businesses and re-forecast or readjust one's estimates by a certain percentage for future earnings with this very real uncertainty borne in mind in all affected trades? ""

Very good question and the answer is yes, which it was looked at. Sales are still up 18% in the last 3 months versus last years same period. No real affect in the afternoon but it gained in other hours, alcohol was allowed. At this store at least, customers seem to adapt. POS systems are great as they "let you know the story"

But at a restaurant/pub with a live band that I'm involved with. Our profits had gone down 80% with the one less hour.

http://www.glasshomebangkok.com/index.php?...&id=3&Itemid=26

We just built a restaurant next to it and sales are back up as the people have somewhere to go after 1 a.m.

http://www.glasshomebangkok.com/index.php?...&id=19&Itemid=2

In business either people adapt or you adapt for them so they want to come to your place.

www.sunbeltasia.com

[ThaiPauly]

I cant help but refer to the old saying, "If you want to make a small fortune in Thailand-Come with A large one"

I tried to replecate a very sucessful business idea that I had been growing very profitably for seven years in Farangland in Bangkok. The money I allocated for it dried up within 3 months, I was selling more back home in a day than in a month in BK. I then tried another venture which SHOULD have taken off- but didn't. My total losses -2m baht. Never risk what you cant afford to loose, been said before and I will say it again.

I have since looked at very many businesses for sale but please take the financials that you are supplied with with a pinch of salt

I have now given up and basically decided to retire, as mentioned in earlier postings there are so many people happily willing to take your money, if you are prepared to give it.

I was shown many businesses for sale and staked many of them out to see how much business they were doing and no way could the profits have been realised from the amount of customers they were getting, high season or low. My advice is dont bother trying to make money in Thailand, I speak from a harsh experience.

I am not an idiot, I sold my UK business for enough money that I dont need to work again, and the chances are I won't unless something comes along and whacks me around the head and says "HEY THIS CANT FAIL" but I am not holding my breath!!

But you and only you can make your decision, good luck in what ever you decide to do.

[bonviveur]

Thank you ThaiPauly I really need this I know it's not all rosie that is why I'm come here to get some advise from guys like for some guidence your experience good or bad is well apreciated.

Bonviveur

[udon]

Any changes at the Beer Garden in Soi 7 with this no grog in the arvo?

Just curious.

[LivinLOS]

Was 'same same' last week..