In Your View, What Is The Best Way Of Earning A Living L.o.s

[dmax]

ive just returned to uk from los, loved it up country in udon thani khon kaen and also pattaya, im down to my last 2 mill thb...me and the wife are now going to try save as much money as we can to get back out nect couple of yrs time to buy some kind of business, she doesnt like it here in uk and yeah u guessed it neither do i..

anyway in your view what type of business works in thailand for a falang. i dont want to buy a bar but it would be a last resort. im going to do some night classes at colledge in indian cookery next month, i fancy learning to cook many curry dishes in indian , chinese, thai and maybe malaysian , im thinking if i do open bar resturaunt then i can cook myself out back were the police wont see me, then again in udon thani falangs ive noticed can work in their own bars. im just playing about with some idea s at minute but our hearts are set on getting back out, its sh**e here ! lol

also anyone know where to buy good cheap matteresses in bkk ? we recon we could rent a small shop in bkk or patts or udon and the wife could sell these. also i like the idea of a furniture shop selling good quality cheap sofa,s beds, tables etc , i mean look at the condo,s that are going up in patts right now even in a recession but then you have homepro and index to compete with.

i would put money into anything which although i know in never going to make big money in l.o.s we just want to survive and stay there.

any thoughts or ideas much appreciated ,, and yes i know theres a million other people asking the same thing lol

dmax

[SeanMoran]

Get a job on an oil rig.

[brianw]

Seriously DONT BOTHER come and live in thailand but dont get involved in any buisness there are thousands of posts on this subject

[NADTATIDA1]

I did see a good idea on here,but i think it would require too much money...or more than you have....if you are only concerned about surviving open a small shop in the village or get your misses cooking food with a cart somewhere!

There are plenty of franchise outlets for purchase....but as you say there are a million others at it or wanting to open up next door to you.

Think long and think hard!!

Lets face it the UK is shit in january,thats why your feeling down,good luck.

[garyh]

A bar would be a last resort but you are aiming to open a bar/restaurant?

[lazygourmet]

Hi dmax... sorry I am confused... I thought that you were Irish

[dmax]

A bar would be a last resort but you are aiming to open a bar/restaurant?

well im im a half decent cook, a bar resturaunt would bring in costumers for breakfasts etc simple to make, easy to serve up,and a decent profit from breakfasts as long as you give costumers a good deal, as i say i want to go back to school and learn to cook a lot more dishes, this would allow me to work out back in kitchen. im not thinking of lady bar !! i could of got a good deal in pattaya, sio lankee on a guesthouse with rooms above but i didnt have a spare one million thb in my back pocket to do me over low season so i didnt pursue it but ive got 2 years to get my act together and save some more money and basically i just want to learn some more about business etc in the next couple of years.

[dmax]

Get a job on an oil rig.

yes mate, ive allready thought about that, im due to start an offshore survival course in may in aberdeen, im a welder and a scaffolder by trade but even so i dont think its going to be easy for me, anyone know any contacts ? lol

[dmax]

Hi dmax... sorry I am confused... I thought that you were Irish

dont matter <deleted> i am does it really ? i was born in belfast ,uk, my dad is from liverpool and my mum was from belfast, in my book that makes me british but who really gives a <deleted> because i do not !! whats politics or religion got to do with my question ?

whats your point mate ??????? let us all know , PLEASE .

[bdenner]

Serve your time in your home country work for as many years as it takes, invest wisely, develop your own retirement stratadgy, AND never rely on a government paid pension from your home country. WORKS FOR ME!

[dmax]

Serve your time in your home country work for as many years as it takes, invest wisely, develop your own retirement stratadgy, AND never rely on a government paid pension from your home country. WORKS FOR ME!

easier said than done my friend

[GungaDin]

I just rec'd 14 copies of dmax's op. I wonder why?

[Beardog]

Fat chance in a business up here- Better to go to Cambodia(Poipet & try your luck at the gambling joints. Your odds are better there then here. I tried a beauty salon & got out for only 80,000 loss I was lucky. The neighbor had a great English restaurant & bar & only lost 14 million. You will have better luck going back make some dosh & come back to LOS. At least you have a chance. flippin burgers in England or America you will probably make more than here. I see very very few posters that are successful

here & many more that say they took it in the shorts. 2 mill is too little to ride out a business proposition. Better to take the slower route in England get strong financially & come back. Even though 2 mill is 2 mill here & 2 mill.baht isn't jack in your or my country.

[jkinbkk]

Dmax, don't waste your time answering and obliging those planks who have nothing constructive to offer.

Walk away from this thread!

In the end remember "It takes nearly as much ability to know how to profit by good advice as to know how to act for one's self"

Good luck and follow your dream, with your wife and her family supporting you morally...I tell you anything is possible in Thailand. (I'm now in my 15th Year away from the UK with no regrets...none!)

[Loz]

how to make a small fortune in LOS?

Start with a big one.

Seriously... If making money was easy here Thais would not be scratching around for 170bht a day would they?

If you have 2 mil, think about how much risk you are willing to take. Talk to reputable wealth managers and dip a toe in the investment market. Either that or start a business back hope.

I know of people with 6-10 mil invested in Agricultural enterprises who have never heard of "ROI" and have no idea how much they are making or losing. National Lottery tickets still cost a quid in Blighty? seriously...

[Spoonman]

learn to cook a lot more dishes, this would allow me to work out back in kitchen.

[eTiMaGo]

The best way to live here? Some cushy lower management job in a foreign firm, paid at European/US wage levels... I knew a French girl who was an intern for Total, a few years back, and they gave her an *allowance* of 65,000 baht a month. It's insane, maybe I am too used to living among Thai people, but you could live a pretty dam_n good life with that...

[basjke]

A bar would be a last resort but you are aiming to open a bar/restaurant?

well im im a half decent cook, a bar resturaunt would bring in costumers for breakfasts etc simple to make, easy to serve up,and a decent profit from breakfasts as long as you give costumers a good deal, as i say i want to go back to school and learn to cook a lot more dishes, this would allow me to work out back in kitchen. im not thinking of lady bar !! i could of got a good deal in pattaya, sio lankee on a guesthouse with rooms above but i didnt have a spare one million thb in my back pocket to do me over low season so i didnt pursue it but ive got 2 years to get my act together and save some more money and basically i just want to learn some more about business etc in the next couple of years.

Not want to disappoint you but can't we all get a good deal somewhere in pattaya?Don't we all have that dream that just THAT place for sale out of the many hundreds advertised would be the exact location and we could make a good business out of it?

Believe me in Pattaya the chance maybe 10% out of all businesses started to entertain foreigners are successful.However 100% are started with the intention and the believe that they will be.Why?Maybe because there are too many or maybe because most people don't understand that because you like this taste of food or kind of entertaining doesn't mean the majority of possible customers has the same vision.

I came here 15 years ago and I recognized from the first moment that this is a holiday country.That means,come here to spend your money but to earn money the odds are very low.

[rainman]

If you're losing money, it's because you're doing something wrong, not because of Thailand. Money can be made anywhere, but you can also fail anywhere.

[MrHammer]

The best way to live here? Some cushy lower management job in a foreign firm, paid at European/US wage levels... I knew a French girl who was an intern for Total, a few years back, and they gave her an *allowance* of 65,000 baht a month. It's insane, maybe I am too used to living among Thai people, but you could live a pretty dam_n good life with that...

That's far from what I've heard interns get. The allowance for embassies is very low only 10-20K baht for interns. I thought interns were the modern slave labor?

[Skyline]

Go for it!

The negative posts are usually from people that failed, or are too scared to try.

[MrHammer]

Ok, here is my take on business.

I have only ever done business only, but the basics are still the same. Often people will tell you: The market is saturated or that there's too much competition. That is true sometimes, but most of the times, simply looking at the number of competitors is not enough.

Two ways to compete:

1) Do it cheaper

or

2) Do it better

and also

3) Make the customer feel more appreciated

I think most people who get into business are way unprepared. It takes a long time to do the proper research, establish routines, budgets BEFORE entering into a business.

I don't think it's worth competing on price in Thailand, which means you have to do it better or do the same as the competition but make the customer feel more appreciated. Those two, particularly the latter, shouldn't be too hard. Customer service sucks in Thailand.

Go the extra mile and overdeliver.

When I've been to Pattaya, I am not exactly blown away by the hotels, restaurants or bars. I think someone willing to listen and talk to visitors could do quite well in whatever field. Of course, I haven't factored in corruption and stuff like that.

My point is, last year this time I had no idea about how to do business online, I made a grand total of 2$ in a month. Today, it's enough to live on. Next year it may be enough to live of the residual income.

So, go for it, but don't jump head in without preparation.

[GuestHouse]

Get a job on an oil rig.

Get a job designing Oil Rigs from an office in Thailand ! Bugger that offshore <deleted>.

[GuestHouse]

The best way to live here? Some cushy lower management job in a foreign firm, paid at European/US wage levels... I knew a French girl who was an intern for Total, a few years back, and they gave her an *allowance* of 65,000 baht a month. It's insane, maybe I am too used to living among Thai people, but you could live a pretty dam_n good life with that...

Problem is, Interns never press for the real deal...... It's all about the 'Experience'

If it's about the 'Cold Beer and Luke Warm Women' apply for the TEFL rates.

If it's about making a living.......

[Ijustwannateach]

I would go with doing something you love to do that you are good at... the money does eventually follow (or enough of it, anyway).

[ericthai]

I think opening a rest or bar is allot of work for little money. It can be done but you wont make much.

You need to do some research find something you know well or like to do and then just do it.

I have worked as a consultant for many years and did ok. Now my partner and I found a great product and doing great. Demand is more than what we ever expected. You need to make sure that when you start you have a good business plan and enough cash to cover all the little unknowns and have a plan to expand if things go big for you. That was our mistake, we did not have a plan for big demand and now scrambling to raise more capital to meet the demand.

Dont listen to the people that tell you that you can not make money in Thailand, yes it is hard but it can be done. You just need to make sure you have good employees and know exactly what all your costs are. Do your homework.. Good luck!!

[hawthorne]

You said you have 2 million baht.

My suggestion for a long life in Thailand if never interested in making a lot of money.

Start with 5 million baht.

put 480,000 baht in a savings account = 40k Baht a month living expenses for a year

Invest the remaining 4,520,000 baht in several medium risk mutual funds offshore. Your target is to make 10% profit each year. Each Jan take out the years expenses and re-evaluate your funds.

I would suggest to get a job for someone while in LOS for the first few years to supplement your investemnets and some down years. Granted you will probably not get a job amking a lot of money but you said your goal was to live in LOS not to get rich while living there.

This is risky but it is also very plausible. Use the time between now and when you reach the 5million baht goal and start learning about the lesser risky funds that you can sleep at night. Start doing research and learn the real basics for investing in buy and hold mutual funds. YOu are looking for a very reasonable return.

Only a suggestion

[garyh]

Have you thought about online businesses? If your smart about it is very plausible, there are a lot of successful ebay sellers too. Do it the right way and you could live anywhere with internet.

[My Friend Same]

Teach English. lol

[Loz]

You said you have 2 million baht.

My suggestion for a long life in Thailand if never interested in making a lot of money.

Start with 5 million baht.

put 480,000 baht in a savings account = 40k Baht a month living expenses for a year

Invest the remaining 4,520,000 baht in several medium risk mutual funds offshore. Your target is to make 10% profit each year. Each Jan take out the years expenses and re-evaluate your funds.

I would suggest to get a job for someone while in LOS for the first few years to supplement your investemnets and some down years. Granted you will probably not get a job amking a lot of money but you said your goal was to live in LOS not to get rich while living there.

This is risky but it is also very plausible. Use the time between now and when you reach the 5million baht goal and start learning about the lesser risky funds that you can sleep at night. Start doing research and learn the real basics for investing in buy and hold mutual funds. YOu are looking for a very reasonable return.

Only a suggestion

This is NAILED ON! great Advice.

Depends on age and how risk averse you are but this is HANDS DOWN the best advice I've seen here.