The $25,000 Question

[popeye33]

Don't bother.

You simply won't be able to make any money on a small investment like that.

Remember that anything small scale has been done in Thailand already and it has been done to death.

This is typically the kind of answer from people that can't think of doing anything else except for the food/beverage/hospitality business/retail business.

Manufacture something. You can set up an entire custom milling, lathe,welding, metal cutting ,folding and stamping business for less than 400k baht.

Since not everyone has the capability, you are limited to your specific areas of expertise unless you are willing to learn something new.

My side business apart from my day job, earns an extra 40,000 baht a month, and this is only because I dont have time to commit to it full time. I started with a 6000 baht investment. I'm about to quit my job and push it full time.

Knowledge and niche's are king here. Trust me you can do it.

Completely agree, so many think because THEY can't do it and are pigeon holed into the usual molds that no one can...

some can most cannot.

those that have to ask here what business to go in are definitely in the CANNOT group.

[Powerband]

Then go to China and bring back things to sell and enjoy a minimum 250% profit margin on most items.

Go to Shenzen, take Air Asia :D if you can get into Shanghai its even cheaper...if you go through Shenzen and take air asia, you can get away with about 3 large garbage bag sized bags worth of goods untaxed...and yes you will pass through customs.

Then go to the wholesale business district and set up a shop 'in' the wholesale market.

But what will you sell? Do the footwork and you'll find out.

People who have been here long term have a better aspect in this regards, because they've seen shops come and go...if you see a shop thats been there a long time, then you know what they are doing is working. - as long as they are renting and not the owner of the building.

The world revolves around trade. If you can't make something work for $25,000 in thailand you can't do it anywhere.

[mrdome]

Whatever you do, do it better than others. Give your customers reasons to choose you over the others. There are gazillions of places to stay and eat, just as an example. Why do people select one over the other in cases where they have a choice?

The unique problems in Thailand will be that if you do not have a WP you cannot get involved in it and if people know it's a foreigner owned business that is doing well, they might try to push you out of that market and copy it themselves. So, staying low key might be the ... erm, key.

[ding]

My wife and her friend have recently started selling curtains and installing them, It cost next to nothing but time and business cards, they are making about 100,000 per month after 6 months and it gets better each month so far. They took a gov sponsored class i'm sure your wife could take... it was free .... sub contractors do all the work they just measure the windows and the subs make them and install them. Mind you it's 100k but they only work on weekends and not even every weekend. It's worked out a LOT better than I expected and seems to be getting better, faster and easier. No overhead at all , no shop, customer pays a deposit that is used to pay for curtains and installing, it's pretty sweet really.

this sounds too good to be true!

and off the chance it is true, it wont last long. I HEAR THAIS ARE GOOD AT COPYCATTING THAT WORKS.............AND EVEN THINGS THAT DONT WORK

It may be. I personally know Thais who have run a curtain shop for many years. Business is slower than ever for this established and well known shop. Even the hotels, hospitals, wats etc - not ordering anymore. Mostly do cleaning jobs now.

Just one case, FWIW.

[popeye33]

My wife and her friend have recently started selling curtains and installing them, It cost next to nothing but time and business cards, they are making about 100,000 per month after 6 months and it gets better each month so far. They took a gov sponsored class i'm sure your wife could take... it was free .... sub contractors do all the work they just measure the windows and the subs make them and install them. Mind you it's 100k but they only work on weekends and not even every weekend. It's worked out a LOT better than I expected and seems to be getting better, faster and easier. No overhead at all , no shop, customer pays a deposit that is used to pay for curtains and installing, it's pretty sweet really.

this sounds too good to be true!

and off the chance it is true, it wont last long. I HEAR THAIS ARE GOOD AT COPYCATTING THAT WORKS.............AND EVEN THINGS THAT DONT WORK

It may be. I personally know Thais who have run a curtain shop for many years. Business is slower than ever for this established and well known shop. Even the hotels, hospitals, wats etc - not ordering anymore. Mostly do cleaning jobs now.

Just one case, FWIW.

let me be klear.

i am not saying doing curtains cant be a business but to claim making 3000$ a month with litlle effort is questionable to say the least.

[Bakeman]

I bought into a pre-exsisting business for twice that. And have since continured to invest for months now. I dont believe that will be enough.

[manarak]

Or the OP, if he's clever, can budget the 25k USD to live 2 years and in this time just learn how to make internet sites.

After 2 years of work, he should be able to make 1000 USD/month.

[ding]

Or the OP, if he's clever, can budget the 25k USD to live 2 years and in this time just learn how to make internet sites.

After 2 years of work, he should be able to make 1000 USD/month.

Do you mean as a website developer, or that he should run websites selling ads?

[waza]

Well I think your best bet is to create a business that encompasses the main Thai interest. Thais love pickups, somtam and alcohol. Therefore, start your own drive thru bottle shop and somtam takeaway. It might be best to start this business in Issan first then sell franchises. Remember you heard it here first

[manarak]

Or the OP, if he's clever, can budget the 25k USD to live 2 years and in this time just learn how to make internet sites.

After 2 years of work, he should be able to make 1000 USD/month.

Do you mean as a website developer, or that he should run websites selling ads?

He can do all of those things and even more:

- website design/developement for third parties (worldwide)

- website design/development for himself (publish ads, sell stuff in shops, etc. on his own sites)

- hosting (either as a reseller or by owning his own servers as I do)

- development + hosting for third parties, run online applications on a monthly fee basis

there are as much business models as there are business ideas!

the best thing is, profit made outside Thailand, and which stays there for more than a year can then be transferred to Thailand tax free.

[manarak]

Well I think your best bet is to create a business that encompasses the main Thai interest. Thais love pickups, somtam and alcohol. Therefore, start your own drive thru bottle shop and somtam takeaway. It might be best to start this business in Issan first then sell franchises. Remember you heard it here first

is fortune telling allowed in Thailand?

[NADTATIDA1]

Well I think your best bet is to create a business that encompasses the main Thai interest. Thais love pickups, somtam and alcohol. Therefore, start your own drive thru bottle shop and somtam takeaway. It might be best to start this business in Issan first then sell franchises. Remember you heard it here first

is fortune telling allowed in Thailand?

It was April fools day!

A family member runs a small shop in the village her farang husband started it up for her with the help of 100.000 bt very easy to do,he even got sattelite tv in the shop which attracts people when the footys on(he gets a few farangs chilling out there also) and has a few tables around it for drinking and eating,they make noodles and somtam and have a well stocked shop of what most villigers require,he even gets farang stuff in now and then! and sells a lot of beer and lao khao,he does not sell in the shop but goes buying and works hard.

1 Month they earn between them.....18.000 bt.

The point is he has got his outlay back already and although he does not make a fortune he enjoys it and lives here with his loved ones,and it is enoug to live a nice comfortable life if that is what you want...ie out of the rat race!

I intend funding a similar shop to what he has done,the answer to your question is go bust a couple of times while you are here and then you haven't got anything to lose,it worked for me.

People set there expectations to high sometimes when in Thailand you have to operate a business plan how the thais do...work hard long hours for a comfortable living and hope you have not many hiccups along the way!

edit i forgot to add until i go bust again!!

Edited April 1, 2010 by NADTATIDA1

[Powerband]

I intend funding a similar shop to what he has done,the answer to your question is go bust a couple of times while you are here and then you haven't got anything to lose,it worked for me.

People set there expectations to high sometimes when in Thailand you have to operate a business plan how the thais do...work hard long hours for a comfortable living and hope you have not many hiccups along the way!

edit i forgot to add until i go bust again!!

Me too, the worse thing you can do is live on a set amount every month and continue to let that be your safety blanket...Only when you REALLY go broke do realize how long you can actually live on 300 baht...

I never want to count 1 baht coins for food ever again.

Edited April 2, 2010 by Powerband

[MyphuketLife]

To be real, what are your skill sets. $25,000 is not allot of money, and while you can with allot of hard work and a little luck run a successful business on $25K. Is this your entire nest egg? What is your contingency plan, let’s say you go bust and lose everything, what options do you have?

Anywhere in the world, even your home country most new business fail, only a small percent of small business truly succeed. Now factor in you will be starting a business in a foreign country where you have language/customs barriers, and your chances for success are even smaller.

I am not saying it can't be done, as there are plenty of foreigners that come here, set up a business and do really well. But there are more failed stories than success stories, so make sure you leave funds back home. DO NOT INVEST IT ALL. Putting all your eggs in one basket is never a good idea.

Anyway I wish you the best of luck in whatever you decide.