A Few Question

[samvis]

Hello im new to this forum.I been to Thailand three times before.And now im going back the 1nov.And staying for 6months.Im going to get maried Now i been home in norway for 5months working my ass of and saving money.What im thinking about is that i want to open some kind of smal shop,or a internettcafe.Is there anybody who have any experience with that.And can give me some advice,and also maybe some rughly cost..Im just talking about alittle shop or internettcafe or something like that.and also i dont need to make mutch money on it.i just want to have something to do.But ofcause it always nice with alittle extra income

I have Around 400-450.000bath..is there anybody that think i can be able to do anything with that kind of money.Or shuld i just leave it on my savingacont home in norway.and save a while longer?

All kind of tips or advice would be aprishiated

Tom

[Khun Jean]

Where to begin....

First you are not allowed to work without a workpermit. If you want to have an internetshop or some other small shop you will have to start a registered business. The company way or the limited partnership way. You still need to make enough money to be able to get you a workpermit. Better ask one of the sites sponsors about the exact amount. Second with that amount you probably are able to make around 10-15000 baht profit a month. Hardly worth the effort, but it keeps you from being bored.

I suggest to try to keep that amount or better yet save some more, for when you are planning to stay in Thailand. When you are married you need 400.000 baht in the bank to get a 1 year non immigrant 'o' visa. Which will safe you the hassle of going to the border every three months. Please don't start a bar if you are not experienced with it.

I (oke my wife) had a small internet cafe and it was doing ok. I could make 40-50000 baht profit in high season nothing in low season, but now 4 more shops opened in the same street and gone is the profit for everybody. So if you really want to do something i guess one more small restaurant would not hurt, if you have good and affordable food you can always make some money, although it will not be much.

Best thing is to live there at least 6 months to a year before you start making decisions about where to live permanently and about what kind of business to start.

Good luck and have patience.

[samvis]

Thanks for the advice mate.isnt it posible that my whife can own the busines.Now i will stay there for 6months and have a budget of 45000bath a month.thats without the money i wanted to invest.And also i will keep my jobb here in norway.i work as a fisherman.It so actualy it was most so that we will have something to do.and she could have alittle income.while im home working.There must be a way my wife can own it.or do i have to own it myself.and have 2mil bath to start a company?

[~G~]

Your wife can own it 100% as a sole proprietor and than no expenses for accounting, company setup, vat registration etc. But you will not be able to work there since you won't have a work permit. You will also have no real control over the business.

Generally I find this phenomena of people starting a business in order to keep themselves busy very wrong . A business has to make money - and as much as possible. Buy low - sell high - watch your cashflow, as simple as that . Don't spend more than what is completely essential for the business - and find the ways to charge the highest prices you can.

If your attitude is different and you plan to start something with some vague hope it will pay for some of your expenses, you will most likely just loose the money you invest.

Do you want to pay for the business or have the business pay for you? If you're bored - find a hobby! Don't start a business to keep yourself occupied with no prospects for real revenues!

[sagit911]

Mr G,

You are absolutely right. Unless one is good in that line of business and committed 100% to make profit out of it, dont do it. It is better to have no income than to lose one's capital.

Sagit911

[samvis]

Thanks all for your tips i dont think its a problem with my future wife going to own it.I trust her 100%,i see some small resturant and internetcafe`s with total investment 400-500.000bath.And with Annual Owner's benefit from 300 to 600.000bath.It would be perfect.I dont have any problems living with my wife on a budget around 30-40.000bath a month.

[Khun Jean]

Samvis, numbers sound great but remember "due diligence"!

If someone is making 300.000 baht profit that would mean a lot more turnover, maybe around 800.000. Normal price for such a business would be at least 1 million including assets.

If you calculate the other way around. 500.000 baht will buy you a business that has a turnover of around 200.000 - 300.000 baht. Profit would be less than 10.000 baht a month. Not worth it becaus eyou probably have to stay open 12 or more hours every day. No time anymore for married live. If you don't put in those hours profits will be even less.

And if you are seen in such a place you will be considered to work there and without a workpermit, bye bye thailand...

If it will be your wifes business don't ever get caught doing anything there, some have been caught while they were only shaking a costumers hand, especially if you have some competition close by. Posing like a customer only works for a little while.