What'S A Good Business To Start In Bangkok

[craigt3365]

Thai's are into the Fad. Krispy Kreme for one; open an outlet, and get your socialite buddies to show up randomly and the next thing you know there is a 5 hour wait to buy a box of mediocre donuts - all Thai's. Thai's die for the chance to do/go and rub shoulders with the Hi-so's. They are willing to wait and pay more just for the bragging rights of shopping in a certain area.

If you're opening a business doing retail sales, you're better off setting it up in the medium to high end shopping location. This will cost you, and I do not think B500K is sufficient. It also helps if you or your wife know of some Thai Hi-So's (Movie stars, Singers, etc). Have them make random shopping appearances in your store and it will be a big hit. This will help accelerate your customer flow, ala Krispe Kreme. For longevity, that would based on your product. Watch Krispy Kreme go out of business next year.

I always found Thai handycraft and Teak/Rose wood furniture to be really cheap. If you can get your way through the paperwork and taxes, you could easily make 5 to 6 times your investment (rough estimate based on selling price difference) by having an export business to Europe or the US.

I know of some people who make crazy money buying beaded costume jewelery in bulk for a low cost and selling them to retail outlets in the US. A nice beaded necklace for a B100 here can easily sell in the US for $30. You just need to work out how to get the stuff there, the taxes and distribution.

IMHO.

Interesting you should mention jewelery. I met a Canadian who comes here twice a year for a month or so. Hangs out on the beach, buys some stuff, ships it back and he's made enough money he doesn't have to work. Pretty good way to go. I guess he has several outlets in Canada he sells to...

[ericthai]

I have been here 10 years now.  Shortly after I first arrived, I looked into starting a business.  A businees I know well, as I have a successful business in the USA.  However, after looking into it and talking to many people, both Thai and farang, I concluded it would be a losing proposition, mainly due to the level of corruption here.  And that was 10 years ago.  Today, the level of corruption is much much worse.

The best business advice I can give you is look elsewhere.

Dont know what business you were thinking of, but I too have been living here for over 10 years. Been coming to Thailand for over 15 years. i finally opened a company about 3 years ago, I have had no problems with corruption. If course you have the little 100 or 500 baht here and there to get things done fast. I have my Thai staff handle all government things. My office is in BKK but my factory is in Surin and I just opened a second factory in Ubon, and in Ubon we are working with the local government, nobody there asked for any money they were happy we were creating jobs.

You need to look for something that you can do here and take advantage of the cheap labor force. My factories are labor heavy, but working on changing this over to being automated as when you start to have close to 100 employees the labor cost gets high. But you can start out like I did with heavy labor and then change over later.

Like someone said dont think 500K is enough. I started with 3 million and that got me going, but then had to bring in more money, which ok was for expansion.

I agree it's not easy, good luck!!!

[KCM]

I don't have any suggestions for what a good business here would be now but I do have a couple of comments on other business that have been mentioned here. I wish I had some suggestions for what would be good but knowing what could be difficult should be helpful too.

I would stay away from any business that involves importing anything into Thailand because the import taxes on most items are very high and there are payoffs you have to make to the right people at customs. Also there are many restrictions on items that can be imported. One reason GNC is usually empty is because the import taxes they have to pay makes the retail price of their items too expensive. The selection at GNC is very limited because many of the items they can sell in other countries are not permitted to be imported to Thailand.

Exporting jewelery from Thailand used to be an easy way to make a profit but it's much harder now. The price of silver is very high now compared to a few years ago and the strong baht makes the price of jewelry even higher for export markets. If you want to try fashion or costume jewelry it's tough from here because it's much cheaper and there is a much bigger selection in China. Most of the fashion jewelry that you see in Thailand was made in China anyway.

[Renbe]

"I wouldn't want a business that took years to become profitable. I just don't have the patience. I am looking for something that makes money fairly quickly.

Asking (here) about advice how to make money fairly quickly is like asking about the length of a piece of string. I sincerely hope that you do not expect a fruitful reply....

[w11guy]

"I wouldn't want a business that took years to become profitable. I just don't have the patience. I am looking for something that makes money fairly quickly.

Asking (here) about advice how to make money fairly quickly is like asking about the length of a piece of string. I sincerely hope that you do not expect a fruitful reply....

I'm not asking how to make money quickly. I was just pointing out that I wouldn't be interested in a business that took years to become profitable. I am just after general ideas and some of the posts have go info that I wasn't aware of. That's all I'm after. You (and some others) haven't read my posts properly if you think I'm asking for specific business advice. Some businesses work in some countries but don't in others. So I'm on a learning curve.

[Longtooth]

How about starting a small factory that makes the white spray paint, the insurance/police guys use after an accident.

Then, after your business does really, really well, you could use it to spray around yourself!

[w11guy]

Many people run successful businesses in Thailand. Business is a risk, but the reward is worth the risk. I don't want safety and a small return. I want to set up a business and make a profit. I know that's not guaranteed. But I don't want toearn 2% interest just to keep my money safe. Money comes and goes. That's life.

with THB 500k?

Yes, with THB 500K. Why not? It's a myth that you need large amounts of money to start/build a successful business. Five years ago I started a business in the UK from scratch and didn't invest a single penny. I had access to niche products that I could get dropshipped. Initially, I sold the products on eBay before I paid for them. So not a single penny needed to start. I then saved the profits, built a website, etc. I eventually imported the goods in bulk from factories in Asia. After 4 years I sold the business for £180K ($US280K), paid off my mortgage and came here. So no investment whatsoever. Not a single penny. I have a 2-year worldwide non-compete agreement, so can't do anything too similar at the moment. Don't think I'd want to anyway. I want to start something different. I need a new challenge.

I know other people who have built similar businesses starting with £1-2K (THB 50K-100K). So THB 500K is more than enough to start a very successful business. It's enough in Uk, so is definitely enough here.

Obviously there are some businesses that need upfront investment, but I don't need to start one of those. Most business need much less than THB 500K to get started.

[Bedrockguesthouse]

Here is my idea. motorcyclists reflective vests 1st campaign is to market to the motocyc taxis. they where vests now but no reflective material on them. wouldnt be that expensive, promotes night time safety, reduces accidents injuries deaths. once you are succesful in that market you could do a more general campaign maybe with govt assistance for all motor bike riders specially the younger riders maybe with some great designs front back

good luck.

[Renbe]

Here is my idea. motorcyclists reflective vests 1st campaign is to market to the motocyc taxis. they where vests now but no reflective material on them. wouldnt be that expensive, promotes night time safety, reduces accidents injuries deaths. once you are succesful in that market you could do a more general campaign maybe with govt assistance for all motor bike riders specially the younger riders maybe with some great designs front back

good luck.

Already brought 3 reflective vests with me from Europe. Won't fly as a business though, because Thai and Europeans alike don't like to wear them, cause they're all convinced accidents never happen to them....

[w11guy]

Here is my idea. motorcyclists reflective vests 1st campaign is to market to the motocyc taxis. they where vests now but no reflective material on them. wouldnt be that expensive, promotes night time safety, reduces accidents injuries deaths. once you are succesful in that market you could do a more general campaign maybe with govt assistance for all motor bike riders specially the younger riders maybe with some great designs front back

good luck.

Already brought 3 reflective vests with me from Europe. Won't fly as a business though, because Thai and Europeans alike don't like to wear them, cause they're all convinced accidents never happen to them....

It would be great if bikers were forced to wear them. But in Thailand, many people don't even use helmets. I can't imagine many of them buying reflective vests. I don't think they really care about safety. Also, in general, people aren't interested in their health or safety, except in a very superficial way.

[Chunky1]

The problem you will have with any great idea is that copycats will be show up before you turn around... that is why.. imo.. your best plan is not a "great idea" but to simply find the right location for a business.

[w11guy]

The problem you will have with any great idea is that copycats will be show up before you turn around... that is why.. imo.. your best plan is not a "great idea" but to simply find the right location for a business.

I agree. Being first with a great idea usually leads to a business failure. Better to build a business that has already been proven to work. As you say, the right business in the right location. Usually your bright idea isn't already in the market beacuse it doesn't work. As somone already suggested, no-one sells heaters in BKK, so you could be the first. But it would be a complete disaster. There's a reason no-one sells heaters. So being first won't be of any use.

[inmysights]

Right now, sandbags and life jackets! You will need cash and something really imaginative and hope you dont get ripped of by local helpers, if I were you I would think of where can I put money and it be safe and get a return, ok maybe a bit of risk, better than losing the lot

Many people run successful businesses in Thailand. Business is a risk, but the reward is worth the risk. I don't want safety and a small return. I want to set up a business and make a profit. I know that's not guaranteed. But I don't want toearn 2% interest just to keep my money safe. Money comes and goes. That's life.

Then go and ask them. Not some posters on some anonymous expat forum. Really.

If you really need to ask how to lose your money in Thailand, you wouldn't be posting here. But if you're really sure, ice and ho's are a good start/end.

Leave it in an offshore bank account. Particularly now.

Edited October 27, 2010 by inmysights

[inmysights]

The problem you will have with any great idea is that copycats will be show up before you turn around... that is why.. imo.. your best plan is not a "great idea" but to simply find the right location for a business.

I agree. Being first with a great idea usually leads to a business failure. Better to build a business that has already been proven to work. As you say, the right business in the right location. Usually your bright idea isn't already in the market beacuse it doesn't work. As somone already suggested, no-one sells heaters in BKK, so you could be the first. But it would be a complete disaster. There's a reason no-one sells heaters. So being first won't be of any use.

You've never been to Pai then? Mae Hong Son? Thar ya go OP!

Edited October 27, 2010 by inmysights

[Englander]

Open a fat camp.

He! That is my idea! I have the land available only not the time, yet. I am planning to do another business first that will be more easy to setup.

You could make extra revenues by charging horrible people like me to come along and hurl abuse at the fatfux.

Find cheap VW camper vans that drive and are solid underneath and export them to Blighty if thats where youre from, you can pick them up for 50-75k bht, shipping is about a grand and taxes are 6% plus VAT, id imagine you could double/triple your money ... or alternatively go to PI where there is an abundance of them and theyre currency is pegged to the USD i believe.

Arent i good to you.

[w11guy]

Open a fat camp.

He! That is my idea! I have the land available only not the time, yet. I am planning to do another business first that will be more easy to setup.

You could make extra revenues by charging horrible people like me to come along and hurl abuse at the fatfux.

Find cheap VW camper vans that drive and are solid underneath and export them to Blighty if thats where youre from, you can pick them up for 50-75k bht, shipping is about a grand and taxes are 6% plus VAT, id imagine you could double/triple your money ... or alternatively go to PI where there is an abundance of them and theyre currency is pegged to the USD i believe.

Arent i good to you.

That's a neat idea. Have you tried it?

[Englander]

Open a fat camp.

He! That is my idea! I have the land available only not the time, yet. I am planning to do another business first that will be more easy to setup.

You could make extra revenues by charging horrible people like me to come along and hurl abuse at the fatfux.

Find cheap VW camper vans that drive and are solid underneath and export them to Blighty if thats where youre from, you can pick them up for 50-75k bht, shipping is about a grand and taxes are 6% plus VAT, id imagine you could double/triple your money ... or alternatively go to PI where there is an abundance of them and theyre currency is pegged to the USD i believe.

Arent i good to you.

That's a neat idea. Have you tried it?

Lots of people import them from America to the UK, my friend has a carbody repair shop in England and will import them from there in the New Year ... so long as it drives theyll buy without needing to restore them, apparently they like them in its original condition.

Ive not done it but it is definitely feasible, PI has more vans though but if you put the word around 2nd hand car garages im sure you'll get some offers.

[Spoonman]

500k = 10 new scooters.

Rent them out at 3k per month and after 1.5yrs you are even stevens, from there on in its all cream.

[Canada]

There seems to be a big market for nutritional supplements and health care products (not pharmaceuticals but vitamins etc) among Thais but the products available are very limited. There are many business opportunities there.

I did actually think of this, but whenever I walk past GNC it's always empty. I don't think I've ever seen a customer in the shop. They have a decent range of supplements in there as well. How do you know there is a big market for this, and if there is, why is GNC always empty?

Overpriced...really overpriced

[WarpSpeed]

Find cheap VW camper vans that drive and are solid underneath and export them to Blighty if thats where youre from, you can pick them up for 50-75k bht, shipping is about a grand and taxes are 6% plus VAT, id imagine you could double/triple your money ... or alternatively go to PI where there is an abundance of them and theyre currency is pegged to the USD i believe.

Arent i good to you.

That's a neat idea. Have you tried it?

Lots of people import them from America to the UK, my friend has a carbody repair shop in England and will import them from there in the New Year ... so long as it drives theyll buy without needing to restore them, apparently they like them in its original condition.

Ive not done it but it is definitely feasible, PI has more vans though but if you put the word around 2nd hand car garages im sure you'll get some offers.

Chances of finding any here that are still original though are like finding virgin bar girls on walking street.......Not that I would know anything about that mind you ..............

Edited October 27, 2010 by WarpSpeed

[Englander]

Find cheap VW camper vans that drive and are solid underneath and export them to Blighty if thats where youre from, you can pick them up for 50-75k bht, shipping is about a grand and taxes are 6% plus VAT, id imagine you could double/triple your money ... or alternatively go to PI where there is an abundance of them and theyre currency is pegged to the USD i believe.

Arent i good to you.

That's a neat idea. Have you tried it?

Lots of people import them from America to the UK, my friend has a carbody repair shop in England and will import them from there in the New Year ... so long as it drives theyll buy without needing to restore them, apparently they like them in its original condition.

Ive not done it but it is definitely feasible, PI has more vans though but if you put the word around 2nd hand car garages im sure you'll get some offers.

Chances of finding any here that are still original though are like finding virgin bar girls on walking street.......Not that I would know anything about that mind you ..............

Her uncle who used to be a car dealer offered me 2 recently, i should say the bodywork was original the rest i dont know, probably not due to difficulty getting parts.

I bought one half way through restoration for 2k recently in England another 2k in kitting it out 10 days labour ... and he tells me itll go for 15K when done in the next couple of weeks .... just shows some people really have got more money then sense.

[Blackandwhite]

In the Uk a very easy way to make money with little risk is to run a commercial window cleaning company using a water fed extending pole system. Great for hotel and apartment blocks, not sure if there are many people doing it in Thailand ?

[jonclark]

Photocopying shop- I know it's not very glamourous, but a Thai colleague of mine quit her job to open a photocopying business in downtown Bangkok a few years ago and is now making 50K + a month profit with three photocopying machines and a couple of staff. She has contracts with half a dozen local companies and is well situated near a large local university. I honestly would put it down as a non starter but she is doing very nicely from it. She says she makes a 1/4 of a stang profit on every page she copies, obviously she made bugger all in the first 6 - 8 months (like most businesses). She also has no interest in protecting copyrighted books

[celtasia]

I have a great idea. Send me 5,000 baht and i will give you a list of 5 ideas. The first one is free! The idea is to sell business ideas to people on the net.