Opening A Little Business!

[philw]

Steph,

Well I beg to differ from what other posters have said!

I started off with much less than the OP has and my part-time business is now in it's 5th year! It is not making hundreds of millions of Baht, just a few million each year to afford myself and my partner a comfortable life style. That being said, do your research first and choose a good location, start small and don't put all your eggs in one basket.

Listen to this man and ignore the losers on this forum.

Jingjingna, confirms that it is possible to succeed - the losers around here hate nothing more than someone else getting on in life.

Yes I agree.

Go for it and wish you success.

philw

[robblok]

Steph,

Well I beg to differ from what other posters have said!

I started off with much less than the OP has and my part-time business is now in it's 5th year! It is not making hundreds of millions of Baht, just a few million each year to afford myself and my partner a comfortable life style. That being said, do your research first and choose a good location, start small and don't put all your eggs in one basket.

Listen to this man and ignore the losers on this forum.

Jingjingna, confirms that it is possible to succeed - the losers around here hate nothing more than someone else getting on in life.

I think its good to caution people, many people think they can open a business but few succeed. Its also harder to start a business in a foreign country then in your own.

Many people also have no experience in running a business and then the learning curbe will be even harder. If you had a similar business in your own country or good knowledge then your chances are higher.

[aussiebebe]

Regarding opening a gym in Thailand ... I live here and it's a crap idea. Wealthy gym-rats prefer the established chains like Fitness First and California Wow! so you'll never tempt those. Most Thai's enjoy working out in the outdoor gyms in parks for free, many people enjoy Muay Thai and use that as exercise. For $20k, you could set up a small gym in a shophouse (by renting, $20k isn't enough even to buy the premises), I've seen many of those but the profit margins are so low; most Thai's who frequent them would look to spend 30-40baht per day - most such places can't even have air conditioning.

[travelmann]

id say the key thing here is the girlfriend, i gave my g/f a leg up and she took it big time but the amount you have to start is too small.

[cardholder]

Make that 2 in a 100. Started off 5 years ago with about same amount as OP intended. ROI within 3 years, had a 2nd branch and now planning the 3rd.

It's possible to do business in Thailand but the hours will be long and workers are a load of stress. If it's not life threatening, Best is just be positive and take things lightly especially with workers and customers.

I don't make hundreds of millions but the income generated from the business is enough to give my family of 4 a comfortable lifestyle plus bi-annual vacation.

Well congrats to you. You are about 1 in a 100, though, when it comes to a foreigner finding business success here. But I'm sure that the OP, after reading your comments, will believe that he can also be the 1 in a 100. Good luck to him as well.

I'll claim 3/100.

Not a huge financial success but the business I started succeeded in all the criteria areas that I set.

The missus earns 20k per month and is worth every satang - the relative success has been down to her hard work. I fear that many partners would not have the same endurance factor.

I injected 750k to start the business and I kissed that goodbye on the day it left my bank account. As far as I was concerned that was the cost of me finding out if the project would work.

[BookMan]

I think you will find running a business in Thailand is much harder than your home country.

You obviously have not got a clue about the Red Tape France slaps on people trying to start their own business.

It'd be less stressful to give your 20k away to a random person in the street, perhaps cheaper also in the long term.

Second thoughts, perhaps you have.

What has red tape got to do with it?

An no, i don't have second thoughts.

If u read the OP again u will see he is after a relaxing lifestyle, not the hard work needed to establish a business.

[samran]

I think you will find running a business in Thailand is much harder than your home country.

You obviously have not got a clue about the Red Tape France slaps on people trying to start their own business.

It'd be less stressful to give your 20k away to a random person in the street, perhaps cheaper also in the long term.

Second thoughts, perhaps you have.

What has red tape got to do with it?

An no, i don't have second thoughts.

If u read the OP again u will see he is after a relaxing lifestyle, not the hard work needed to establish a business.

I actually do see your point. When people say they want to run a business in a way the OP describes, at the beginning they don't realise that:

- the business has to cover costs (hurdle 1)

- after that it still has to produce a revenue stream to cover future stock needs/investments and pay suppliers more or less on time, lets call it cashflow (hurdle 2)

- have enough left after the end of that pay his own salary and maintain a basic lifestyle which he wants.

Having said that, I'm with guesthouse - go for it. Running my own business, the 12-16hr days seem relaxing in comparison to working the 8-10 hours/day I used to for other people.

Plenty of foreigners do well here, but the proportion of failures to successes is probably skewed as Thailand attracts more than the average share of dreamers who want to 'start' a business so they can continue their holiday, not actually so that they build a solid on-going concern.

One priviso though - he must be afford to throw away the $20,000. And even then, I'd start with investing no more than $1000 to see if I can get people interested in my crepes by making them in a simple stall, and then improve from there...

Edited December 25, 2011 by samran

[MrHammer]

A french creperie in Thong Lor with a Parisien feel to it could be a huge success. It would all depend on if you were able to get a good location and the right marketing/branding. Alternatively I don't see why you couldn't make it succeed in Sukhumvit around the expat zones.

But I have to agree that Thailand is probably not the place to learn how to do business. It would be much better if you got some experience before Thailand.

[samran]

A french creperie in Thong Lor with a Parisien feel to it could be a huge success. It would all depend on if you were able to get a good location and the right marketing/branding. Alternatively I don't see why you couldn't make it succeed in Sukhumvit around the expat zones.

Crepes and co as been going for years....

[Berkshire]

Make that 2 in a 100. Started off 5 years ago with about same amount as OP intended. ROI within 3 years, had a 2nd branch and now planning the 3rd.

Well congrats to you. You are about 1 in a 100, though, when it comes to a foreigner finding business success here. But I'm sure that the OP, after reading your comments, will believe that he can also be the 1 in a 100. Good luck to him as well.

I'll claim 3/100.

How do you guys know it's not 3/300? Oh nevermind. I'm sure there are success stories out there. I just preferred to come over with some money already.

[taninthai]

Make that 2 in a 100. Started off 5 years ago with about same amount as OP intended. ROI within 3 years, had a 2nd branch and now planning the 3rd.

It's possible to do business in Thailand but the hours will be long and workers are a load of stress. If it's not life threatening, Best is just be positive and take things lightly especially with workers and customers.

I don't make hundreds of millions but the income generated from the business is enough to give my family of 4 a comfortable lifestyle plus bi-annual vacation.

Well congrats to you. You are about 1 in a 100, though, when it comes to a foreigner finding business success here. But I'm sure that the OP, after reading your comments, will believe that he can also be the 1 in a 100. Good luck to him as well.

I'll claim 3/100.

Not a huge financial success but the business I started succeeded in all the criteria areas that I set.

The missus earns 20k per month and is worth every satang - the relative success has been down to her hard work. I fear that many partners would not have the same endurance factor.

I injected 750k to start the business and I kissed that goodbye on the day it left my bank account. As far as I was concerned that was the cost of me finding out if the project would work.

Kissed your 750 k goodbye so are you saying the business has not shown enough profit yet to cover your initial outlay if so you can hardly call it a successfull venture

[geriatrickid]

Why a crepery? There are 3 ladies that do the circuit near my soi with one parked to the east and another to the west. I'm talking about those motorbike set ups. These vendors have designated territories. if the intent is to use a fixed location, forget about it. The market isn't there to support the overhead.

In any case $20,000 is inadequate to star a business and to maintain it during the start up period. Might as well blow it on booze and bargirls. The return will be the same: There will be nothing left, not even your dignity.

Bonne chance.

[swisstouristpattaya]

You will not make any money in this country. Oublie ça mon ami...... Coule la toi douce, live with 10000 baths and relax...

I know plenty oh farangs who have lost their money. Don't be one of these sucker....

sent from tapatalk :-)

[Forethat]

I know a couple of farangs who's made it BIG time in Thailand. None of them are in the bar- or restaurant-business. One of them started with zip ten years ago and now employs 6.000...I should add that at that level he's receiving pressure from all sorts of directions.

[Darrel]

I know a couple of farangs who's made it BIG time in Thailand. None of them are in the bar- or restaurant-business. One of them started with zip ten years ago and now employs 6.000...I should add that at that level he's receiving pressure from all sorts of directions.

Sounds like my idea of hell.

[cardholder]

Make that 2 in a 100. Started off 5 years ago with about same amount as OP intended. ROI within 3 years, had a 2nd branch and now planning the 3rd.

It's possible to do business in Thailand but the hours will be long and workers are a load of stress. If it's not life threatening, Best is just be positive and take things lightly especially with workers and customers.

I don't make hundreds of millions but the income generated from the business is enough to give my family of 4 a comfortable lifestyle plus bi-annual vacation.

Well congrats to you. You are about 1 in a 100, though, when it comes to a foreigner finding business success here. But I'm sure that the OP, after reading your comments, will believe that he can also be the 1 in a 100. Good luck to him as well.

I'll claim 3/100.

Not a huge financial success but the business I started succeeded in all the criteria areas that I set.

The missus earns 20k per month and is worth every satang - the relative success has been down to her hard work. I fear that many partners would not have the same endurance factor.

I injected 750k to start the business and I kissed that goodbye on the day it left my bank account. As far as I was concerned that was the cost of me finding out if the project would work.

Kissed your 750 k goodbye so are you saying the business has not shown enough profit yet to cover your initial outlay if so you can hardly call it a successfull venture

No Sherlock.

Kissing the money goodbye is what you need to do with almost any small business venture in Thailand. If it had made enough profit in 2 years to repay my initial investment the planes would be full of entrepreneurs heading for Thailand.

[taninthai]

so you are not one off the few who have made a successfull bussiness as you claimed in your previous posts ting tong na

[cardholder]

so you are not one off the few who have made a successfull bussiness as you claimed in your previous posts ting tong na

Not sure how you would have the insight to know that.

I had always believed that a business that achieved it's mission statement, targets and objectives could claim to have succeeded.

One 'L' in successful and only three 'S's' in business - try the spell check function.

[whybother]

Biggest problem IMHO is the fact that you have to employ 5 Thais for every foreigner working. A stupid it rule. Especially if your opening your own business.

Four Thais per work permit. Two if you're married to a Thai.

[robblok]

Biggest problem IMHO is the fact that you have to employ 5 Thais for every foreigner working. A stupid it rule. Especially if your opening your own business.

Four Thais per work permit. Two if you're married to a Thai.

Thanks, was 5 before. Still 2 Thais is a lot if you don't need them. Crazy law's according to me. Its hard on starting businesses especially if you really dont need them (think internet companies with clients in the home country)

[xthAi76s]

The really bad news is if you are successful your business will be copied to death.

Unless the barrier for entry into the particular business is very high. Food is hard because the barrier for entry is so low, and also because there is so much competition. If you business is more complex (like mine is), the barrier for entry is very, very high -- BUT, the risk is that you yourself may not make it due to the same complexity.

Higher risk, potentially higher reward.

Good luck to the OP.

As some posters have stated here, opening a business and running is successfully is, in and of itself, an extraordinarily difficult thing to accomplish. That's true most anywhere. Doing it in a foreign country will not make it any easier.

I think what people think is that they have some kind of advantages due to education or cash able to be laid out or whatever. Some of these things are true, but, like other people here have said, the single most difficult thing most businesses are likely to face here is PEOPLE. Both, employees and customers/clients. It's hard enough trying to understand what motivates our own westerners. Trying to figure out what makes Thais "tick" is another matter altogether.