Bars Going Cheap

[alina]

Hi Matey's

Bars are doing cheap now if you want one?

Harley Bar has just been sold on Soi 80 for 600,000 baht, thats market value and about the correct price, the sellar was bamboozeled into paying 1.9 mill for it less than a year ago.

The Harley Bar is probably the nicest on that Soi as it was refurbished about 2 years ago, how much for the other Bars on that Soi? start at half that, bet they are pig sick.

I think the locals call it the ghost Soi, as it is empty of customers the majority of the time.

Edited March 4, 2010 by alina

[gotlost]

When you sell a bar you are selling goodwill. Good well is customers. No customers equal no goodwill equals no money. Goodwill makes up 90% of the asking price of any bar. What a joke.

[peter6007]

In the daytime Soi 80 is quite busy in a few of the bars,as they seem to have promotions,but lets face it,are any of the bars in hua hin not ghost bars much of the time???Its been like this for the last 2 years!

[gotlost]

In the daytime Soi 80 is quite busy in a few of the bars,as they seem to have promotions,but lets face it,are any of the bars in hua hin not ghost bars much of the time???Its been like this for the last 2 years!

Thats just like a bar owners asking price is a ghost price.

[ESB7]

Its a nicer place for a few drinks rather than seedy binta baht area. The rent on a unit is only 10k a month so why anyone would pay 600k is a mystery. A few tables and chairs,air con, pool table and a bit of stock is all you are getting.

[gotlost]

Its the want to be businessman dream, he wants a bar and he lives in la la land.

[hhfarang]

Thaiwaii on Soi 80 seems to be doing well and I thought Dick's Office did a fair amount of business...

[gotlost]

You always have that 10 to 20 % that do OK. The other 80% . If thing go the wong way on the 12th and I hope they don't you very well may see the bottom drop out on this industry.

[alina]

In the daytime Soi 80 is quite busy in a few of the bars,as they seem to have promotions,but lets face it,are any of the bars in hua hin not ghost bars much of the time???Its been like this for the last 2 years!

What time in the day time are they quite busy? Let me know and I will pay a visit. I was there Friday 3pm some not open, the ones that were had nobody, I drove up to the end.

[Richie1971]

In the daytime Soi 80 is quite busy in a few of the bars,as they seem to have promotions,but lets face it,are any of the bars in hua hin not ghost bars much of the time???Its been like this for the last 2 years!

What time in the day time are they quite busy? Let me know and I will pay a visit. I was there Friday 3pm some not open, the ones that were had nobody, I drove up to the end.

Dicks and Thawaii open around 3- they are sports pubs and rely heavily on the pool and darts evenings - 3pm most people are down the beach or by the pool unless the cricket or major tennis tournament are on

[alina]

Hi

I agree, Soi 80 is dead, I see you seem to plug a couple of Bars.

Correct info is the majority open all day, not just these 2, Eagle Bar opens for Breakfast. Approx 10 bars on this Soi, all open about the same time.

Peter 6007 stated the Soi was busy during the day, I asked at what time, never seen it busy, Thai New Year perhaps.

[gotlost]

Fire Sell. Next sucker, I mean investor.

[darrendsd]

I beleive Harleys bar has just been sold again for double what was paid.

Previous owner had it a week.

[Thongkorn]

Is it buy one get one free yet , happy year so to speak.

[yabaaaa]

I hear the "Budgie bar" is going cheep?

[gotlost]

By April 18 it will definitely be buy 1 get 1 free for that will be the end of the so called high season.

[FarangBuddha]

What's the margin or annual percentage rate return annually on one of these bars?

I mean, assuming it's 10 percent, at 600k investment you're only talking about a 60k return annually (or 5000k per month). What sort of farang would even get out of bed in the morning for that kind of money?

[gotlost]

What's the margin or annual percentage rate return annually on one of these bars?

I mean, assuming it's 10 percent, at 600k investment you're only talking about a 60k return annually (or 5000k per month). What sort of farang would even get out of bed in the morning for that kind of money?

A dumb arse with no money or more money than brains.

[chiang mai]

A dear dear farang friend here in Phuket, silly man, wouldn't hear otherwise but here's what he's got himself into, probably not that much different from Pattaya or anywhere else around:

Key Money - 400k

Monthly - 15k, two year lease

Staff (5) times 4K - 20k

Average monthly cost over two years - 51.6K

Average drinks per night - 15

Average cost per drink - Baht 100

Average monthly income - Baht 45k

And that was a deal done in high season!

[splitlid]

A dear dear farang friend here in Phuket, silly man, wouldn't hear otherwise but here's what he's got himself into, probably not that much different from Pattaya or anywhere else around:

Key Money - 400k

Monthly - 15k, two year lease

Staff (5) times 4K - 20k

Average monthly cost over two years - 51.6K

Average drinks per night - 15

Average cost per drink - Baht 100

Average monthly income - Baht 45k

And that was a deal done in high season!

unfortuneately, your calculations dont deduct the cost of the drinks the owner has to pay in the first place, also electricity, etc etc etc.

but, your dead right, no money to be made in your average beer bar.

most are just a place for the owner and his mate to get drunk in.

[theoldgit]

As they say, the only way to make a small fortune in Thailand is to start with a large fortune.

[FarangBuddha]

I would guess it also helps some with their visa situation. But I wuld rather get drunk at home (if I drank) and take a vacation every few months than put up with the headache of running a beer-bar in Thailand.

A dear dear farang friend here in Phuket, silly man, wouldn't hear otherwise but here's what he's got himself into, probably not that much different from Pattaya or anywhere else around:

Key Money - 400k

Monthly - 15k, two year lease

Staff (5) times 4K - 20k

Average monthly cost over two years - 51.6K

Average drinks per night - 15

Average cost per drink - Baht 100

Average monthly income - Baht 45k

And that was a deal done in high season!

unfortuneately, your calculations dont deduct the cost of the drinks the owner has to pay in the first place, also electricity, etc etc etc.

but, your dead right, no money to be made in your average beer bar.

most are just a place for the owner and his mate to get drunk in.

[johnnyk]

Working on the assembly line at Vauxhall doesn't qualify someone to run a bar. Neither does being pissed 5 nights a week for 20 years.

[makescents]

Are these freehold prices?

[katabeachbum]

Are these freehold prices?

your not buying property, these are bars for sale with (hopefully) leases on property. leases for bars are usually not registered in land deed, thus not legal more than 3 years

[makescents]

Are these freehold prices?

your not buying property, these are bars for sale with (hopefully) leases on property. leases for bars are usually not registered in land deed, thus not legal more than 3 years

I'd have to agree with this poster then...

Its a nicer place for a few drinks rather than seedy binta baht area. The rent on a unit is only 10k a month so why anyone would pay 600k is a mystery. A few tables and chairs,air con, pool table and a bit of stock is all you are getting.