Run A Money Exchange

[faww]

hello every one...

im new here... i found this site on google when i was googling 7-11 SME and after reading plan C i thought maybe opening 7-11 is not a good idea cos having 20k-30k baht per month is not what i was thinking and 7-11 is so complicated...(or maybe not .. just my thoughts)

i have 2 best friends in bkk and pattaya they are not thai but they are living there like 5 years now

they suggested 7-11 but im not sure

last week i was in thailand and i saw so many money exchanges there with so many different exchange rates

i thought i could build one and run a money exchange,cos there are lots of them so i think its an easy job or i could even hire a thai to put there and manage the rest ny my self

is there any one who tried that or build this job already?

how much should i invest in this,i want to start small like so many money exchanges in nana bkk

tell me the risks plz,tell me every thing that i should know about this job,i really appreciate your help...

thanx so much for having me here

[jamescollister]

Think you need to do a reality check. What were you going to do with the money once you exchanged it. Stick it in a case and take it back to it's home country. Jim

[faww]

Think you need to do a reality check. What were you going to do with the money once you exchanged it. Stick it in a case and take it back to it's home country. Jim

actully i was thinking what every money exchange do with there money thats what i was looking and wanted to build

[jamescollister]

Think you need to do a reality check. What were you going to do with the money once you exchanged it. Stick it in a case and take it back to it's home country. Jim

actully i was thinking what every money exchange do with there money thats what i was looking and wanted to build

You mean being associated with a bank. thank you can not start small. Jim

[faww]

Think you need to do a reality check. What were you going to do with the money once you exchanged it. Stick it in a case and take it back to it's home country. Jim

actully i was thinking what every money exchange do with there money thats what i was looking and wanted to build

You mean being associated with a bank. thank you can not start small. Jim

so how much we are talking?

[jamescollister]

Think you need to do a reality check. What were you going to do with the money once you exchanged it. Stick it in a case and take it back to it's home country. Jim

actully i was thinking what every money exchange do with there money thats what i was looking and wanted to build

You mean being associated with a bank. thank you can not start small. Jim

so how much we are talking?

No idea, think you would have to register as a money changer, form a company, pay tax, just like anywhere else in the world. Will not be cheap, if even possible.

What's the goal. you want to live here and are looking for a way to do so. Are you a banker or forex trader, do you understand how the exchanges rates work. I , just know that doing anything here is hard. Maybe easier then the west to start, but the bottom line is most llose money here. JIm

[Sharp]

A falang locking up a money exchange every night yep good luck with that......

Wear a helmet

[faww]

what about 7-11 is that a better idea?

Edited June 28, 2012 by tombkk
: Font

[hedonist44]

Don't quit you're day job kid !

[jamescollister]

what about 7-11 is that a better idea?

Again not as easy or cheap as it may seem, think there are 2 types of franchise. One you are buying a job the other costs money.

What do you do for a living now and how much money are you prepared to lose. Are you restricted to an area to set up. Do you have a skill that you can use.

Think back to searching the net and more research needed. Good luck and keep the dream. Jim

[p_brownstone]

what about 7-11 is that a better idea?

Again not as easy or cheap as it may seem, think there are 2 types of franchise. One you are buying a job the other costs money.

What do you do for a living now and how much money are you prepared to lose. Are you restricted to an area to set up. Do you have a skill that you can use.

Think back to searching the net and more research needed. Good luck and keep the dream. Jim

I don't think CP (the Master Franchise owner here in Thailand) will allow a Farang to own a Franchise.

Patrick

[realtalk]

Don't quit you're day job kid !

....helpful.

Faww i sent you pm

[jamescollister]

what about 7-11 is that a better idea?

Again not as easy or cheap as it may seem, think there are 2 types of franchise. One you are buying a job the other costs money.

What do you do for a living now and how much money are you prepared to lose. Are you restricted to an area to set up. Do you have a skill that you can use.

Think back to searching the net and more research needed. Good luck and keep the dream. Jim

I don't think CP (the Master Franchise owner here in Thailand) will allow a Farang to own a Franchise.

Patrick

Don't think the OP can really do anything in Thailand on his own unless he has real big bucks, which he hasn't.

As always think there is a girl involved, or there will be. He has a dream, which give hope. Jim

[faww]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

Edited June 28, 2012 by tombkk
: Font. Please do not use bold type.

[jamescollister]

Faww have a look back in this thread SME op that I posted. I'd be happy to take your money. Jim

[dezy1801]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

Your friends suggested 7-11 and you think they are experts please dont listen to them they obviously have no idea about investing money in Thailand that would be my first bit of advice. Second bit is to forget any business like you have mentioned as you will just lose all or most of your money you would be better off spending your money in GoGo bars least you would have more fun.

If you want to stay here for a long period and have a good investment you need to look at different options.

[faww]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

Your friends suggested 7-11 and you think they are experts please dont listen to them they obviously have no idea about investing money in Thailand that would be my first bit of advice. Second bit is to forget any business like you have mentioned as you will just lose all or most of your money you would be better off spending your money in GoGo bars least you would have more fun.

If you want to stay here for a long period and have a good investment you need to look at different options.

i think your right... so what other options do i have.

i have a big constructing company in iran could i do my civil engineering there i mean could i build houses and other things?

btw i read all other topics about 7-11 they are not that bad tho

[jamescollister]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

Your friends suggested 7-11 and you think they are experts please dont listen to them they obviously have no idea about investing money in Thailand that would be my first bit of advice. Second bit is to forget any business like you have mentioned as you will just lose all or most of your money you would be better off spending your money in GoGo bars least you would have more fun.

If you want to stay here for a long period and have a good investment you need to look at different options.

i think your right... so what other options do i have.

i have a big constructing company in iran could i do my civil engineering there i mean could i build houses and other things?

btw i read all other topics about 7-11 they are not that bad tho

Did you really read the thread on 7/11s, If that's your idea of not bad then you are not looking for much. You could keep your 1.5 mill and just live for 4 years. Jim Edited June 28, 2012 by tombkk

[faww]

40k baht is not that much but its better than nothing right?as i said earlier i want to build a job not to spend money i have like 1000000$ but what i want is to build a job with a good salery that i dont have to be there all the time,runing 7-11 is easy but 40k is not good for me,i really wanna know about 2 things :

1- can i build buildings there like i do in iran?

2- what about music business , my brother is one of the most professional dj in iran and he is great music producer, can we build a studio or something releated to music? how is that sound?

[dezy1801]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

Your friends suggested 7-11 and you think they are experts please dont listen to them they obviously have no idea about investing money in Thailand that would be my first bit of advice. Second bit is to forget any business like you have mentioned as you will just lose all or most of your money you would be better off spending your money in GoGo bars least you would have more fun.

If you want to stay here for a long period and have a good investment you need to look at different options.

i think your right... so what other options do i have.

i have a big constructing company in iran could i do my civil engineering there i mean could i build houses and other things?

btw i read all other topics about 7-11 they are not that bad tho

Things would be easier if you had some local Thai that you can trust and it would also be a good idea to live in Thailand for a while to get to know what may work for you.

I have also looked at a 7-11 also but seems like to much hassle to me anyway but that is only my opinion. Maybe if your lucky someone on here will let you in on one of there secrets.

Good luck

[jamescollister]

40k baht is not that much but its better than nothing right?as i said earlier i want to build a job not to spend money i have like 1000000$ but what i want is to build a job with a good salery that i dont have to be there all the time,runing 7-11 is easy but 40k is not good for me,i really wanna know about 2 things :

1- can i build buildings there like i do in iran?

2- what about music business , my brother is one of the most professional dj in iran and he is great music producer, can we build a studio or something releated to music? how is that sound?

Think you are pulling my chain.

Do you speak Thai, if not how would you tell your Lao workers what to do;

Think an Iranian recording studio, recording Issan folk music would be a sure winner.

Best bet though, as your brother is a DJ of note would be to open a beer bar in Pattaya, can't fail on that one. Jim

[faww]

my 2 friends speak tahi very well

so opening an studio is a win win right? does anyone have any clue how to do that?

yea opening a bar is a good idea but i dont think it has that much of profit what do you think?

[mikekim1219]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

I can sympathize with you wanting to set up an income stream in Thailand. I also looked into it sometime ago. I dont' remember the details but there are two plans for setting up 7-11. One is you can be their employee and expect to earn about 15,000 to 20,000 baht a month. Another plan is invest about 2.5 mil and earn 30,000 a month. This was not my idea of investment in franchise.

I also looked into building dormitory for students. After calculating that I would need about 6 to 7 million bath to earn 30,000 to 40,000 (in Chiang Rai), I passed on that also.

I have been living in BKK, Shanghai, Beijing, Chongqing, Seoul, Manila last 12 year or so, I learned that it is very difficult to set up a income stream in Asia. From my experience, the ones that are successful are people who have lived in the area for long time. My advice is learn the language, understand the culture, study the local law and get local people connection before you attempt to open a business. And of course know your business inside out with solid business plan. Then you might have some chance. Otherwise, forget it.

Edited June 29, 2012 by mikekim1219

[faww]

wow...thanx for all the help guys...really appreciate it..

i have 3m Baht and there is no girl involve and those 2 friends that i have in thailand they are experts cos they are living there for 5 years now

could you give me more info about 7-11 plz thanx

info about me :

im iranian , 22 years old..my friends are 30-32 and i have lots of skills in computers and internet and pretty much every thing related to it,im a civil engineer and im constructing 8 buildings in iran now...

my friends are professional tour leaders

what about building houses is that a good idea?

I can sympathize with you wanting to set up an income stream in Thailand. I also looked into it sometime ago. I dont' remember the details but there are two plans for setting up 7-11. One is you can be their employee and expect to earn about 15,000 to 20,000 baht a month. Another plan is invest about 2.5 mil and earn 30,000 a month. This was not my idea of investment in franchise.

I also looked into building dormitory for students. After calculating that I would need about 6 to 7 million bath to earn 30,000 to 40,000 (in Chiang Rai), I passed on that also.

I have been living in BKK, Shanghai, Beijing, Chongqing, Seoul, Manila last 12 year or so, I learned that it is very difficult to set up a income stream in Asia. From my experience, the ones that are successful are people who have lived in the area for long time. My advice is learn the language, understand the culture, study the local law and get local people connection before you attempt to open a business. And of course know your business inside out with solid business plan. Then you might have some chance. Otherwise, forget it.

yes your right your advice is 100% true...thanx for reply

[faww]

ok...after 3 month of learning thai language and the culture..i came back to ask if its time to start an money exchange in bkk ... any one?thanx for help btw

[falkan]

Open a bar better, alot of your people come to thailand for harem!!

[faww]

i heard they wont let foreign people to open a bar... is that true? btw still looking for info for money exchange..

[loong]

Your new topic at

shows that you do not have a clue how the currency market works.

You should forget about any business idea that you have absolutely no knowledge about.