Pattaya Go Go

[SunbeltAsiaAdvisor]

Pattaya Go Go

Location: Pattaya

Listing ID# BKK14147

Price: 10,000,000THB

BUSINESS SUMMARY

One of Pattaya’s most popular Go-Go Bars has become available for acquisition due to the owner’s desire to spend more time with his family. The bar’s renown ensured that net profits reached 10,192,831 baht during the last financial year. Receipts totalled 28,649,530 baht, with the main overheads being rent, payable at a rate of 82,500 baht per month, salaries averaging 600,000 baht per month for 90 employees, beverage costs, utility bills averaging 45,000 baht per month and incidental expenses.

The bar was set up around five years ago, when roughly 5,000,000 baht was lavished on assets and property improvements. A large two storey property on Walking Street was secured on a renewable three year lease contract, and with over 200 seats there is room to accommodate a copious amount of punters. A Thai limited company can be included as part of the sale price at the request of the buyer. The owner is happy to sell just 49 percent of the shares if a suitable partner were to come forward. Otherwise a complete sale will be sanctioned, with owner financing being offered on terms of 50 percent for a full price offer. The balance would then be payable over the ensuing 12 months. The owner will also be offering blocks of shares to potential investors, with a 10% block of shares available for 2,000,000 baht of investment capital. Asking price: 10,000,000 Baht.

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