Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[thooktong]

Hi,

I would like open mobile phone shop, for my thai girlfriend.

I have found good places maybe to open shop in khon kaen.

But I wonder

1 how to buy at good prices the phones, (new and second hand too) ; phones cards sim cards ...

2 how to buy the furnitures

3 Can I put the rental of the place in my own name

4 How to create the company at the best cost and risk

5 I will begin with litlle shop, 46000 BTH purchasing place, and 5500 rental per month for 12 square meters too much ?

Thanks for helping me.

Jay.

[kuffki]

Jay, this is little tricky business in Thailand.

Years ago i wanted to do that, but found it nearly impossible for a few reasons

1. Before opening the shop, you would want to know the cost of phones, however this market is controlled by a few company's mainly Samart. They will not disclose the prices until you have the actual shop open.

2. Being so tightly controlled by Samart, i have a bad feeling prices would not be too great. Only because when you go looking for phones, its almost impossible to get any discount more then 50 baht even on high end phones

3. Your other option, which many sellers take, they bring phones themselves from China and that becomes grey import. Problems with warranty and police(sometimes they raid phone shops just for that)

4. In regards to rental, you could put it in your name, but then possibly you may have a problem ordering and receiving the stock if the business itself is not in your name. Some company's will not post out or deliver

5. For all other details regarding the company, you best to speak to a lawyer to set it up in the best way

PS. About furniture, there are office furniture shops around, so you could look there or ask them to order what you like for you.

Best of luck

[Nio]

There are 100,000+ mobile shops in Thailand

Khon Kaen already has 100's of shops.

If you are not in a high traffic place like a mall, (By the way the mall will have at least 20 shops), the chances of making enough to pay the rent are zero

Second issue is determine the profit margin on each phone, then see how many phones you have to sell each month just to break even?

You will find the number of phones you have to sell is too great and will never get enough customers.

There simply are too many shops, too many phones and not enough customers.

Do not let your Thai GF talk you into a phone shop unless you are prepared to lose all your money.

You cannot afford to shell out wholesale price of say 17,000 thb for a blackberry to turn around and sell it for 18,000

Investing 17,000 to make 1,000 is a sure fire recipe for failure.

Did you ever think if it is your name you need to have a legal business set up and a work permit? The cost of this alone will be too high for this business.

[thooktong]

Thanks very much Kuffky and Nio for your advices,

Ok now, I change my opinion about mobile phone shop, this business seems not very good, and try to find another small business !!!

"Mai pen rai"

has anyone any ideas ?

Not easy and safe to open business here !

Previously I thought of a seven eleven franchise, but I see too many seven eleven everywhere !

and now competition with not only family mart but in khon kaen I see a new one company named "CJ EXPRESS"

What do you think of these franchises, which one is the best (about cost and risk ?)

Thanks.

Jay.

[neverdie]

Jay,

This is not a critism, but if your budget is small then possibly you would need to look at something to do with food to start with. The good thing about food, depending on what you go for of course, is that you don't always need a lot of capital to start with. (Unless of course you are talking about a big restuarant).

I feel Kuffki & Nio have given you very good advice about mobile telephones, because theres nothing like having two or three hundred thousand baht worth of stocks etc, only to struggle to make 15,000 baht profit per month (if that).

[sarahsbloke]

Buy the gf a noodle trolley or motorcycle (same cost as one high end mobile phone)!

Very little investment, simple to do, good cash flow.

And if it all goes wrong ....... at least you have transport.

Edited March 29, 2010 by sarahsbloke

[Nio]

In KK, we had an office built on the front of the wifes house. It is on a busy street.

Last year 7/11 came in and made an offer to knock down the office and build a 7/11 so we lost the office

However, 7/11 is paying 50,000 thb per month for a lease that is 10 years with 350,000 to renevate existing house paid up front.

So although there are many 7/11's and more popping up each day, you never see any go out of business.

In a super location I am sure you can make money, I was told by 7/11 upwards of 200,000+ thb per month profit

The key is the investment versus the number of years payback.

If you can afford the investment with 7/11 then you will make enough at least to stay and live in Thailand.

The thing about 7/11 versus the other family convenience stores is 7/11 gets a better market price for all products meaning they can buy coke, beer, food etc cheaper than family mart can buy it.

2010, it is very difficult in my opinion to start and run a legal business in Thailand that makes enough to support a whole family.

I am not talking about getting rich either. If you can find your own business and clear 100,000 thb a month here, you are doing extremely well for yourself.

It is almost laughable when you think wow, only US $3,000 a month but when you are earning in baht, trying to make 100,000 doing anything is very difficult.

It is much easier if you can take in dollars or euros in a business

However, tourist related businesses can be up one year and out of business the next depending on what kind of BS is going on inside Thailand.

The only thing is do like Thai's do, both you and the woman have to work and add it together.

[popeye33]

one doesnt do business with thai girfriends and expect to make money,

just give her an allowance, much easier.

[thooktong]

one doesnt do business with thai girfriends and expect to make money,

just give her an allowance, much easier.

Thanks to all of you for your advices

For seven i thought in a tread i read that they take only a thai manager who had already that kind of job !

And they want a high school cursus manager !

My girl friend has neither the experience nor high school level unfortunately

And the price for seven is 3 millions ?

thanks again

Jay.

Edited March 30, 2010 by thooktong

[popeye33]

no experience and lack of education.

and you want to buy her a business????????????????

good god! I LOVE THAILAND

[clinique]

Mobile phone business is cut throat..and too many retilaers as is it..

try something else..with less competition or at least with more profit margin than about 1-2%,,

good luck.