What Kind Of Business Would You Set Up?

[iantoh]

Hi Everyone.

This is my first post.

I travel to BKK about 5 times a year for R & R. I live in Singapore. (Yes, it's nice to be so close to the LOS. ) I'm completely in love with thai culture, food and the general way of life in BKK and I am actually making plans to relocate there within the next year or so.

My question:

I have 5 million baht to invest in a business in BKK; one which would give me enough income to sustain a simple lifestyle in BKK. I'd like some business suggestions please. What would you invest this 5 million baht in?

Thanks!

ian

[khundon]

If you want to make a small fortune in Thailand, start with a large one.

[Chang_paarp]

You could look here; http://www.thaivisa.com/forum/Business-Pro...ls-t281505.html.

Or you could leave your money in a bank in Singapore, where you get some sort of security.

If you are asking on an open internet forum you need to do a little more personal analysis to understand yourself. When you have looked in the mirror for more than preening, a little analysis will tel you where you should be investing and looking to work.

As a separate idea there are a number of real estate ventures looking for capital in the high growth areas of real estate in Pattaya. A quick perusal of the Pattaya section will point you in the right direction, just ignore the ney sayers they are just jealous of anyone with resources.

[LaoPo]

Hi Everyone.

This is my first post.

I travel to BKK about 5 times a year for R & R. I live in Singapore. (Yes, it's nice to be so close to the LOS. ) I'm completely in love with thai culture, food and the general way of life in BKK and I am actually making plans to relocate there within the next year or so.

My question:

I have 5 million baht to invest in a business in BKK; one which would give me enough income to sustain a simple lifestyle in BKK. I'd like some business suggestions please.

What would you invest this 5 million baht in?

Thanks!

ian

Marry a Thai girl ?

On a serious note: don't ask others what they would do or invest in. You can only be successful if YOU have a good idea and than...don't talk about it on a public forum but just DO IT.

LaoPo

[britmaveric]

Personally I wouldnt..... keep your 5million in the bank. (this will be the best decision you ever make)

[mauGR1]

My humble suggestion is,put money in the bank,travel Thailand a little bit,look around,speak with people and learn a lot,and think twice and thrice before starting a business here.So many sad stories around about people who thought that was easy to make money in LoS.

[raro]

5 Mio Baht is SME size in my books, hence moved to the SME forum.

[Rainmon]

Hi Everyone.

This is my first post.

I travel to BKK about 5 times a year for R & R. I live in Singapore. (Yes, it's nice to be so close to the LOS. ) I'm completely in love with thai culture, food and the general way of life in BKK and I am actually making plans to relocate there within the next year or so.

My question:

I have 5 million baht to invest in a business in BKK; one which would give me enough income to sustain a simple lifestyle in BKK. I'd like some business suggestions please. What would you invest this 5 million baht in?

Thanks!

ian

Right now I think the best business in Thailand is property, with the world economy in crisis many people want to bail out and you can get some real good deals now in Bangkok. If you buy in the right locations and get a discount price, your property will appreciate over time, and while you wait you can lease out your condos and make a nice return that way too. Plus you don't have the usual hassles of setting up a business, company filings, taxes, accounting fees, license fees, employee theft, payroll, bribes, etc. But you have to know where and what to buy for the rental market here and how much the property is really worth (as there is no MLS Real Estate service here like we have in the USA that shows what similar properties sold for before).

[surin]

Hi Everyone.

This is my first post.

I travel to BKK about 5 times a year for R & R. I live in Singapore. (Yes, it's nice to be so close to the LOS. ) I'm completely in love with thai culture, food and the general way of life in BKK and I am actually making plans to relocate there within the next year or so.

My question:

I have 5 million baht to invest in a business in BKK; one which would give me enough income to sustain a simple lifestyle in BKK. I'd like some business suggestions please. What would you invest this 5 million baht in?

Thanks!

ian

Right now I think the best business in Thailand is property, with the world economy in crisis many people want to bail out and you can get some real good deals now in Bangkok. If you buy in the right locations and get a discount price, your property will appreciate over time, and while you wait you can lease out your condos and make a nice return that way too. Plus you don't have the usual hassles of setting up a business, company filings, taxes, accounting fees, license fees, employee theft, payroll, bribes, etc. But you have to know where and what to buy for the rental market here and how much the property is really worth (as there is no MLS Real Estate service here like we have in the USA that shows what similar properties sold for before).

I agree with those that suggest you keep it in the bank.

I've got a business in Thailand & the clowns you must deal with daily makes it all too hard...Especially for a 'Newie'.

You will soon fall out of love with most things "Thai".

[surayu]

Just avoid a particular well known brokerage/legal firm, as apart from the first impression they might give, you will just waste your money for totally useless documents, just send me a private message if you need more information, good luck!

[Rainmon]

Just avoid a particular well known brokerage/legal firm, as apart from the first impression they might give, you will just waste your money for totally useless documents, just send me a private message if you need more information, good luck!

I totally agree with Surayu! well said...

[iantoh]

Thanks everyone for the suggestions. Sorry if the question sounded frivolous. I do have an idea of what I'd like to get into. I'm in the health supplement business in Singapore but I certainly don't mind venturing into something different in BKK, maybe even something radically different, like a restaurant. Just wanted to know what kind of suggestions I'd receive.

Property has been mentioned several times but I've been told by some agents that BKK property doesn't really appreciate that much, if at all. We're talking about previously-owned (resale) property of course. Brand new developments do appreciate considerably sometimes, but I think I would need a lot more than 5M baht to purchase those.

[surayu]

Thanks everyone for the suggestions. Sorry if the question sounded frivolous. I do have an idea of what I'd like to get into. I'm in the health supplement business in Singapore but I certainly don't mind venturing into something different in BKK, maybe even something radically different, like a restaurant. Just wanted to know what kind of suggestions I'd receive.

Property has been mentioned several times but I've been told by some agents that BKK property doesn't really appreciate that much, if at all. We're talking about previously-owned (resale) property of course. Brand new developments do appreciate considerably sometimes, but I think I would need a lot more than 5M baht to purchase those.

what about investing on a solid sin-sod? well, actually let me get back to you on that one

[loveUThailand]

Hi Ian

Nice to know that like me you are also looking to make business in Thailand. U have sufficent money to invest, but i would suggest you not to jump in any business which will make u in difficulty.

I have few ideas if you like to share, pls send me private message.

Have a nice time

Mo

[beekaykay]

Hi Everyone.

This is my first post.

I travel to BKK about 5 times a year for R & R. I live in Singapore. (Yes, it's nice to be so close to the LOS. ) I'm completely in love with thai culture, food and the general way of life in BKK and I am actually making plans to relocate there within the next year or so.

My question:

I have 5 million baht to invest in a business in BKK; one which would give me enough income to sustain a simple lifestyle in BKK. I'd like some business suggestions please. What would you invest this 5 million baht in?

Thanks!

ian

Buy my condo

[jasreeve17]

I'd play safe and keep the money in a Singaporean bank - then again I'm quite poor...

Edited September 20, 2009 by jasreeve17

[KevinBloodyWilson]

Personally I wouldnt..... keep your 5million in the bank. (this will be the best decision you ever make)

Fully agree. I moved as much as I could out a few months ago and have been earning good returns offshore.

Don't keep money in Thailand and especially don't invest money in Thailand.

[mca]

Come to Isaan, become a money lender, take folks land certificates as security.

[feetandmouth]

Thanks everyone for the suggestions. Sorry if the question sounded frivolous. I do have an idea of what I'd like to get into. I'm in the health supplement business in Singapore but I certainly don't mind venturing into something different in BKK, maybe even something radically different, like a restaurant. Just wanted to know what kind of suggestions I'd receive.

yup , a restaurant would be radically different. new concept to thailand.

oh! you mean new to you. either way restauarnt is no good. get a girl and do laundry, massage, or hair saloon!

[OxfordWill]

Buy a condo?

[HelpingGuru]

well, i have been living in bangkok for the last 5 years and own a company too. I don't think it is that hard to run business in Thailand. However, you have to make sure you spend less then what you earn. Mostly people here who have business problems aren't really here for business but for enjoyment and nightlife.

It is not business fails people, it is people fail business. My advice to you is to come Bangkok and seek for the opportunities that has the best priority. As far as investing the money is concerned which is obviously the matter of snapping finger, the real work begins to make it run.

All the best and Good luck!

Helping guru

[13morris]

You have free 5 million, stay in singapore, e want open business in.. thai?

fake account sure..

[tommybkk]

BKK isn't particulary cheap to invest. BKK is good to operate a small office or home office without alot investment.

Money investments are bad business there. Time investment is much better.

Edited October 26, 2009 by tommybkk

[FWBackhaus]

well, i have been living in bangkok for the last 5 years and own a company too. I don't think it is that hard to run business in Thailand. However, you have to make sure you spend less then what you earn. Mostly people here who have business problems aren't really here for business but for enjoyment and nightlife.

It is not business fails people, it is people fail business. My advice to you is to come Bangkok and seek for the opportunities that has the best priority. As far as investing the money is concerned which is obviously the matter of snapping finger, the real work begins to make it run.

All the best and Good luck!

Helping guru

Hi! directly from Munich

This is my first Post. By your name you ( and also the others) could help or might give me some good advises : We have the every good plan for making a Business in Rayong, Rubberband Factury. The Business Plan is ready done. We are ( my Thaiwife, my german friend and I) at the Start Up and need Venture Capital. Of course, the Capital from Germany for making a Business in Thailand isn't really easy to convince the Investors( although the reaction to the Business Plan is very positive). Is it possible to find Investor in Thailand and How?

again, our Idea is very good and works. Just now the problem is to find some Infos about Venture Capital in thailand.

Thanks forward..

[raro]

Start a business online and work for yourself.

....with work permit of course, right?

[RoboLB]

Hmmmm.

Some very negative feedback here. I'm surprised. I suspect from some who have tried and failed or never even tried. I have a brother like that. Worked for the man all his life and just complains about what he cannot have :-) Very few things in life are offered on a plate. It generally takes hard work, a bit of luck, commitment, and balls.

I too am looking for SME investment. 5-10 million baht. Really to try to give a family member a helping hand. Nice guy, really hard working and trust worthy. He just keeps getting dealt a shit hand. So I reckon if I can invest in a small business, and give him a job too, we both win.

But i am not rushing in with eyes wide shut. I have worked for myself for the last 15 years. I have started 3 businesses that are all going well. One of those is in Thailand. Yes running a business in Thailand can be a nightmare. Particulary with the revenue department. We now have to forecast profit for the year and if we get it wrong by +/- 20% we get fined! Give me a break...... But if you can put up with the crap it can be rewarding.

So we are now looking around to try something different. Would welcome any thoughts on potentail SMEs to buy. Any opinions here will only add to our reserach and would be appreciated. Would rather buy than startup. Been there, done that. We are not rushing, just researching at the moment. Thinking of an apartment building as an example.

My favorite Winston Churchill Quote:

Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing had happened.

Which in this case I think would mean, listen to the views and opinions of others, assess those that are valuable/insightful and them make up your own mind.

Hearing different views is always of value in my mind.

Not my intention to come across as an over opinionated Newbie! Hope it does not appear like that. Just when people say I can't do something it makes me wonder why and want to do it more :-)

Some great threads in here. Working through them slowly. Got to staff salaries. Think I am over paying :-(

Robo

Edited August 14, 2010 by RoboLB

[w11guy]

Hmmmm.

Some very negative feedback here. I'm surprised. I suspect from some who have tried and failed or never even tried. I have a brother like that. Worked for the man all his life and just complains about what he cannot have :-) Very few things in life are offered on a plate. It generally takes hard work, a bit of luck, commitment, and balls.

I too am looking for SME investment. 5-10 million baht. Really to try to give a family member a helping hand. Nice guy, really hard working and trust worthy. He just keeps getting dealt a shit hand. So I reckon if I can invest in a small business, and give him a job too, we both win.

But i am not rushing in with eyes wide shut. I have worked for myself for the last 15 years. I have started 3 businesses that are all going well. One of those is in Thailand. Yes running a business in Thailand can be a nightmare. Particulary with the revenue department. We now have to forecast profit for the year and if we get it wrong by +/- 20% we get fined! Give me a break...... But if you can put up with the crap it can be rewarding.

So we are now looking around to try something different. Would welcome any thoughts on potentail SMEs to buy. Any opinions here will only add to our reserach and would be appreciated. Would rather buy than startup. Been there, done that. We are not rushing, just researching at the moment. Thinking of an apartment building as an example.

My favorite Winston Churchill Quote:

Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing had happened.

Which in this case I think would mean, listen to the views and opinions of others, assess those that are valuable/insightful and them make up your own mind.

Hearing different views is always of value in my mind.

Not my intention to come across as an over opinionated Newbie! Hope it does not appear like that. Just when people say I can't do something it makes me wonder why and want to do it more :-)

Some great threads in here. Working through them slowly. Got to staff salaries. Think I am over paying :-(

Robo

Welcome to Thai Visa!!! No matter what you ask, you will get a load of negative replies. There are some great people on here but also too many people who seem to be jaded expats who complain about everything. They complain about the corruption, think all the women are bar girls and wouldn't invest a single cent here. But they are still here complaining every day. I'm not sure why hey don't go home.

I am alo thinking of starting a business here but most things don't seem to make much profit. I'd also be interested in some ideas. I would like something office based, maybe offering a service of some kind. Not sure what would work here though. I want to avoid working for next to nothing. I am also open to a partnership with teh right person and with the right business idea.

[TravelerEastWest]

I wonder why people are so negative about business in Thailand on this forum?

I find that there are problems and advantages running a business here just like everywhere else.

More corruption here? Well labor costs are far higher in the West. I could go on and on...

Those who have experience running a business before they come to Thailand tend to do well...

[w11guy]

I wonder why people are so negative about business in Thailand on this forum?

I find that there are problems and advantages running a business here just like everywhere else.

More corruption here? Well labor costs are far higher in the West. I could go on and on...

Those who have experience running a business before they come to Thailand tend to do well...

I agree with you. The more difficult it is to start and run a business, the bigger the rewards, because there is less competition. I suppose I should be very thankful that most on here won't start a business. That leaves more profits for me. It's the same in the UK. People gave me long lists of reasons why I shouldn't have started my business and why it was obvious I wouldn't succeed.

[MrE]

Something other than a bar, restaurant, hotel, internet cafe, massage center or hair salon.