Moving To Thailand

[haiku]

Hello All,

My Partner and I are moving to Thailand. We should be living there by years end. We are planning to buy a condo, or house (after we get a company set up) and also acquiring a business in a year or so. We are in our mid 40’s and have owned successful businesses in the US for years (Restaurant, B&B’s) We are looking to do the same thing someday in Phuket or Chiang Mai. We are no strangers to Thailand as we have been there several times.

However, this is our first thought on doing business in Thailand and from what I have been reading on this forum, it doesn’t look easy. We already have scheduled talks set up with Lawyers next month, but I’m wary. I see many Farangs running successful businesses there so we hope with our experience; we can do the same.

Anyway, I guess I’m just looking for some kind of encouragement. Is there a large percentage of Farangs that fail at business there? Is Phuket (our first choice) a feasible destination for a Café or Inn? If not now, maybe in a year or so? After we talk to the Lawyers maybe I’ll be less doubtful, but in the mean time any comments or ideas would be greatly appreciated

Thanks

[Indo-Siam]

It is easy to start a business in Thailand. It is somewhat difficult to build the business to where it can fully sustain a stable lifestyle. It is quite hard to build the business to where you can accumulate significant wealth.

A hospitality business on an Thai island is highly seasonal - you starve eight months per year, and then try to make your annual income in the other four months. If something like a tsunami, or a disease threat, wipes out part of the high season - you can effectively be wiped out.

You mention "partner" - if you are both non-Thai, and not legally married, then in order to both stay in Thailand on an extended basis (longer than 90 days at a time), you must EACH qualify separately for an extension. Thsi placesan extra financial burden on the situation.

Good luck!

Steve

Indo-Siam

[dr_Pat_Pong]

Oh well ... it seemed a good idea at the time.

[PeaceBlondie]

At least, as you say, you've had success in the same kinds of business, and you're not totally new to Thailand. I'd still suggest you LIVE in the community at least 6 months before putting down the money. Walk the neighborhood night and day, spend time in the cafes and B&B's, meet all kinds of people (as least among potential customers), see the different seasons, etc. No amount of tourism or short visits will substitute for living in a place month in, month out.

[Khun Larry]

Oh well  ...  it seemed a good idea at the time.

<{POST_SNAPBACK}>

[Sunbelt Asia]

Why not try Bangkok?

It’s much more stable. This May 1st, on Sukhumvit soi 33/1 will mark the 8th restaurant that my wife and I will be involved in as an owner. Are all of the restaurants making money? Happy to say… yes. On four of them, sales are higher in the tourist areas during Jan and Feb but it still is stable month in and month out for the other months of the years. The other three restaurants in Thai areas have no seasonal tenancies except for December with many office parties during that month.

I agree with Steve, with restaurants in most other resort towns, you better be ready for the down months because it will certainly happen.

A BIG exception being Koh Samui, no so called slow months during the year except for part of November.

www.sunbeltasia.com

www.lawyer.th.com

[Khun Jean]

The exception on Samui is only for Chaweng.

Other areas are very seasonal. There is already a big difference noticable as the high season ended around Songkran. First everything crowded, now very quiet and peaceful. Chaweng still enough people, but no comparison to the really busy period dec-march.