You Try To Buy A Business Through Adds? Forget It

[DummDays]

I have tried it since 3 Years to buy a value Business through Adds - where so ever here in Thailand

my Resume: FORGET IT

why?

there is a simple Reason:

if there is a successfull and valueable Business to sell, the most next Persons will buy it before it comes to the Market

A good Business is normally not for sale - it goes to Members of the Family or close Friends - at least to a close Businesspartner

You will be able to buy it on the End - if nobody else wonna buy it or has bought it already

Give me your Thoughts about my Statement

[ShopBoy]

Ditto

[IMA_FARANG]

Quite possibly.

That may be why it's for sale in advertisements.

But more importantly...do you have the legal right to own it?

If you are a Thai, a foriegner owning a BOI liscensed company, or the manager of a legal company in Thailand with the required capital invested and the required number of Thai employees...maybe.

And of course the business your intending to buy must not be one prohibited for foriegners.

Even then you will probaly need a mutually well-known and trusted influential Thai friend to make the introductions.

If not you haven't a chance in h-ll.

[FritsSikkink]

The good thing is you know now after 3 years. It took me a few more .

[PattayaPhom]

So many people want to retire or settle down with their tirak that business sense goes right out the window...hence why people can sell a loss making business thats only a three year lease and requires millions of Baht in key money...love is blind as they say......if you want something that makes money, try building and letting cheap Thai rooms in the Om Noi area of BKK, or a noodle stall outside any 7/11 Family Mart..maybe wont make you a millionair but end of month will always show a profit

[manarak]

It is ok to buy a business that's currently barely surviving if you have other plans for it in mind than what it currently does...

[jalansanitwong]

So many people want to retire or settle down with their tirak that business sense goes right out the window...hence why people can sell a loss making business thats only a three year lease and requires millions of Baht in key money...love is blind as they say......if you want something that makes money, try building and letting cheap Thai rooms in the Om Noi area of BKK, or a noodle stall outside any 7/11 Family Mart..maybe wont make you a millionair but end of month will always show a profit

o

Very true. Smart money builds 5 storey apartments dirt cheap , foreign labour and rooms rented out for 2-3000 b a month. They fill quickly. A lady who looks very poor and selling noodles or pakthai on the soi can make 30,000/ month buy a new house and car for the daughter going to university. Farang tourists feel sorry for her and giver her a tip . !! A filthy looking soi shop front with a fan slowly wafting on the ceiling can turn over 250-000-300-000 b a month selling 25 baht soi food all day all night.. No A/C A/C is for kind and generous farangs. What do farangs do ? They spend hundreds of thousands on key money and huge deposits for what ?....nothing.

'

Thais make a fortune flipping' businesses to gullible love sick old farangs. I wouldnt be surprised if his young wife gets a commission as well on the key money. Why not ? If i were her thats exactly what i would do .

Edited October 25, 2011 by jalansanitwong

[jalansanitwong]

So many people want to retire or settle down with their tirak that business sense goes right out the window...hence why people can sell a loss making business thats only a three year lease and requires millions of Baht in key money...love is blind as they say......if you want something that makes money, try building and letting cheap Thai rooms in the Om Noi area of BKK, or a noodle stall outside any 7/11 Family Mart..maybe wont make you a millionair but end of month will always show a profit

o

Very true. Smart money builds 5 storey apartments dirt cheap , foreign labour and rooms rented out for 2-3000 b a month. They fill quickly. A lady who looks very poor and selling noodles or pakthai on the soi can make 30,000/ month buy a new house and car for the daughter going to university. Farang tourists feel sorry for her and giver her a tip . !! A filthy looking soi shop front with a fan slowly wafting on the ceiling can turn over 250-000-300-000 b a month selling 25 baht soi food all day all night.. No A/C A/C is for kind and generous farangs. What do farangs do ? They spend hundreds of thousands on key money and huge deposits for what ?....nothing.

'

Thais make a fortune flipping' useless bar/restaurant businesses to gullible love sick old farangs. I wouldnt be surprised if his young wife gets a commission as well on the key money. Why not ? If i were her thats exactly what i would do .

[ikis]

i've never understood that keymoney thing and selling business in thailand.

customers go when the owner goes. so what business?

especially in bar business there is normally not any company set up. the business is just personal business on thai wifes/gfs name.

it's stupid to pay ridiculous amounts for rent contract and some furniture.

[Pacificperson]

Key money is the unwritten share of the profits that is extracted by the property owner if a business proves successful.

[manarak]

i've never understood that keymoney thing and selling business in thailand.

customers go when the owner goes. so what business?

especially in bar business there is normally not any company set up. the business is just personal business on thai wifes/gfs name.

it's stupid to pay ridiculous amounts for rent contract and some furniture.

It is not important what keymoney is or whether it is justified or not.

If there is no key money, the rent will be higher, or it will be included in other costs anyway. Negociate.

Just include the key money into the total cost of the premises you are looking at and decide if you want to use them or not.

Not really rocket science, is it.