What Kind Of Business Would You Set Up?

[chesternim]

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

If you under-estimate your annual profit by 20+% I will solve it for you - just pay the excess to my offshore company and I won't charge you anything for helping save your neck!

[Jayroo]

:jap:

Edited June 22, 2011 by Jayroo

[SolarOhm]

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

If you under-estimate your annual profit by 20+% I will solve it for you - just pay the excess to my offshore company and I won't charge you anything for helping save your neck!

Just tried to post- not sure if it went or disappeared - so I will try again.

Wait a couple of months as I will be looking for consultants comfortable talking with SMEs about Govt. supported R&D programs.

It is possible to invest at least half your company's tax dollars instead of seeing them drain away - with a Guaranteed return!

The key is the SMEs must be profitable and have legal accounting. (Does not work for people rorting thetax system)

Not sure how many ex-pats or even Thai business people do not pay company income tax.- anyone have an idea on that?

[Mooner]

Common sense consultancy!

[RoboLB]

Haven't been here for a while, but was just reading back on this thread.

As a bit of an update, I am reconsidering keeping my business in Thailand. The regulatory environment is just too hard. We have to spend more time, money and resources on meaningless reporting and regulatory compliance than our other business 20 times the size, based in Australia! I'm coming to the view that the Thai Government ( and revenue department) does not want to encourage small business at all, particularly foreign owned businesses. Very sad really.

In contrast, I have just started another business in the Philippines. A dream compared to Thailand. So much easier. So we may move more of our operations over there. Great pity as I love Thailand, but doing business there can sometimes feel like you have one hand tied behind your back.....

[klikster]

I have been burned twice here in Thailand -- both times by farangs.

First was turning over a detailed business plan for a promised % of the deal. The guy would never return my calls after that. Stupid on my part? Yep! Will I do it again? Nope!

Second time was getting some web coding done. Had done business with the guy for several years and thought I knew him quite well so I paid (not all that much) up front. Half way trough the project he needed to set up a new server and asked me to wait. A couple of months passed and I talked to him about finishing the work. He actually started an argument with me as to who put the project on hold, then told me to find someone else. Refund? Nope!

This is Thailand. Farangs are just as / more likely to screw you as Thais.

If someone has a good idea, they will likely do it themselves. Even if they can't, and have been here awhile, they are not likely to trust you.

[JackKern]

I have been burned twice here in Thailand -- both times by farangs.

First was turning over a detailed business plan for a promised % of the deal. The guy would never return my calls after that. Stupid on my part? Yep! Will I do it again? Nope!

Second time was getting some web coding done. Had done business with the guy for several years and thought I knew him quite well so I paid (not all that much) up front. Half way trough the project he needed to set up a new server and asked me to wait. A couple of months passed and I talked to him about finishing the work. He actually started an argument with me as to who put the project on hold, then told me to find someone else. Refund? Nope!

This is Thailand. Farangs are just as / more likely to screw you as Thais.

If someone has a good idea, they will likely do it themselves. Even if they can't, and have been here awhile, they are not likely to trust you.

sad, but true. Been their a couple times too.....

[bizwhiz]

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

worst advice ever

[bizwhiz]

something in your own name is the only sound investment...this is difficult... If i was going to throw 5 mil around i would say buy yourself 2 3 cheap studios and rent them out for some passive income.

Or you can throw some cash at me in 2-3 months time when the australian stock market bottoms out off the back of the euro over-reaction & i will increase your investment x5 on CFDs by the end of the year.

Im looking to get an investment syndicate in play...anyone interested PM me.

[cjars]

Interesting read. We have a business for sale in Chiang Mai, PM me for details.

[klikster]

Robo,

First, I wonder how long you have been in Thailand. If you are a newie, it might be a good idea to learn more about how Thais and Thailand works before making comments like --

I suspect from some who have tried and failed or never even tried.

How many business folks do you actually know in Thailand? How much do you know about the doing business here?

I know any number who have tried and failed. Some had flawed plans from the get-go. Some trusted Thais and were either cheated or the business failed from incompetence.

I know a few who have succeeded. Do you actually believe they are going to disclose successful business ideas on an anonymous open forum? I you believe that, then I would question your credentials

But i am not rushing in with eyes wide shut.

But you seem to be rushing into this thread with your mouth wide open.

Edited May 24, 2012 by klikster

[jamescollister]

Interesting thread over the years, wonder did the OP find anything to do here or gave up. Jim

[gibson123]

Hello to all, this is my first post too....I want to share what I am doing, and the complications I am having...in the hope that this will help some of you, and maybe someone can help me too.....

Firstly, I must say it's my Thai wife and her mother that run the business here...it's cheaper and easier to set up the business, plus no expensive running cost. I own my house and space with my name on the deeds. Only the business is run in their names.

I have bought a very large covered space + house (Very cheap!) about 30 mins outside Bangkok city center. My idea, along with others I do, is to create work for the local people in the village, and so far we are just in the middle of getting our first contract signed to do small tedious jobs for another company in Bangkok....If all goes well we will create at least 10 jobs for the locals. However, we want to expand....If you have a company in, or outside Thailand that needs workers to do tedious tasks to help produce your product, please do contact me here.

In addition to the above, I have the connections to sell golf range balls to East Europe, and the company here to manufacture them; however, one thing that bothers me is the export duty of these balls....The country I want to export to will charge me 20% VAT and an import tax; which after this charge does not make the balls so appealing any-more....so my question is....how do other business export without loosing their profit?

[jamescollister]

Hello to all, this is my first post too....I want to share what I am doing, and the complications I am having...in the hope that this will help some of you, and maybe someone can help me too.....

Firstly, I must say it's my Thai wife and her mother that run the business here...it's cheaper and easier to set up the business, plus no expensive running cost. I own my house and space with my name on the deeds. Only the business is run in their names.

I have bought a very large covered space + house (Very cheap!) about 30 mins outside Bangkok city center. My idea, along with others I do, is to create work for the local people in the village, and so far we are just in the middle of getting our first contract signed to do small tedious jobs for another company in Bangkok....If all goes well we will create at least 10 jobs for the locals. However, we want to expand....If you have a company in, or outside Thailand that needs workers to do tedious tasks to help produce your product, please do contact me here.

In addition to the above, I have the connections to sell golf range balls to East Europe, and the company here to manufacture them; however, one thing that bothers me is the export duty of these balls....The country I want to export to will charge me 20% VAT and an import tax; which after this charge does not make the balls so appealing any-more....so my question is....how do other business export without loosing their profit?

Again another post that has lost me, where is a village 30 mins from central BKK. Takes 30 min to get a few blocks some days. Next why would you get charged Value add tax as an exporter, not your problem. As for tedious work what does that mean, untangling air planes headset or the like. Bit more info I think. Jim

[drewsclayton]

Sales partner required, interested in developing existing Google Ad Word internet company targeting the SME UK market. I am looking to relocate over next four weeks to Bangkok to partner with Expat, preferably with sales background and some time on their hands. Ideally would be looking to set up small offices with the long term view of hiring additional staff from UK. A few sales companies seem to be doing this successfully in Pattaya and Bangkok already so get in touch for more information. PM for more details.

[realtalk]

Sales partner required, interested in developing existing Google Ad Word internet company targeting the SME UK market. I am looking to relocate over next four weeks to Bangkok to partner with Expat, preferably with sales background and some time on their hands. Ideally would be looking to set up small offices with the long term view of hiring additional staff from UK. A few sales companies seem to be doing this successfully in Pattaya and Bangkok already so get in touch for more information. PM for more details.

What commission structure are you proposing? Im currently working for an SEO company based in BKK, the turnover of staff is unreal.

[gnazi71]

Hello everyone.

I have a thai wife (and 2 daughters) and live in Europe.

We are looking to expat to Thailand.

But looking for a job or put up a business.

In this thread I've seen many ideas but as many people said if someone has a good idea will do it by himself.

We are looking for a good idea to move to Thailand, but for the moment .... nothing at the horizon.

Bye

[jamescollister]

Hello everyone.

I have a thai wife (and 2 daughters) and live in Europe.

We are looking to expat to Thailand.

But looking for a job or put up a business.

In this thread I've seen many ideas but as many people said if someone has a good idea will do it by himself.

We are looking for a good idea to move to Thailand, but for the moment .... nothing at the horizon.

Bye

Again what skills can you bring that are needed. It's hard enough for people in the west to get a job never mind a expat in a strange land. Think hard before you set off on some dream in the 3rd world. No safety net here, if you are down you are in the street eating at a wat. Jim

[gnazi71]

We know that that we won't have a security net.

We hope to go to Thailand and have a "normal" life (no millions needed or wanted).

It could be a good idea to stay in Europe and to a kind of downshifting.

But it is hard to downshift in Europe, too.

No solution ?

[Jessi]

Buy a Bar, what could go wrong?

Jokes aside, do not invest money in Thailand, invest in your home country at least you have rights there.

I have my investments in Australia (Safe & sound)

[RoboLB]

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..

Just a comment that is related to your plans. Do you 'need' your friend to set up the Business? Just be careful. I have nothing against your friend who I am sure is a wonderful person, it is just the concept.

I currently own 5 businesses and have owned others in the past. Setting up business with a 'friend' has for me always ended in tears........

IMHO I would not mix business with friendship. Think 5 or 10 years ahead. Lots can happen in that time. You or your 'friend' might want to sell the business, move somewhere else, join a hippy commune..........who knows. Trying to then resolve what to do with the business is a nightmare. Been there, done it. Seen the movie, got the t shirt. Never, ever, again.

Now I make sure I own or at least 'control' everything. Where others need to be a 'part' of the business I give them a profit share.......not ownership.

[Blackandwhite]

If I was prepared to spend 5 million - I would buy a small piece of land in a fair area just out of a tourist spot, but big enough to take two house or three,, build a nice house to sell at a fair not inflated price build well to sell, so therefore do not over spend on un needed items such as fancy pillars and five bathrooms, spend money on good insulation a and double skin walls ect, sell your house, make a fair profit. Do it twice me each time returning investment plus profit. Worse scenario you keep the house, not going to happen as long as you sell the house for the correct price. Best outcome would be you sell all three make good profit and do it again. Yes correct visa's needed and Thai company needed but all doable

[meatballs]

Q: What kind of business would you set up?

A: Internet business. Very little overhead and most of the time fantastic ROI for each $ invested. I make 10x+ what I invest in proxies, servers, and the like. Besides, it fits my personality and I can work when I want to. The money is just so easy it's not even funny.

[cheechoo]

a really good busines would be to set up a business telling other not to open up a business.

exceptions duly noted!