50,000 Usd, No Knowlege Or Expierence....

[RaysFan]

Hi, I am a 27 year old American, Ive been dating a Thai girl for over a year now and she wants to take me back to Thailand, which I think sounds great. I love an adventure, you only live once. Anyways, I have a good job here in America and I have about $50,000 I'm willing to spend. I have never started a company or ran one, but I am a very hard worker and I learn fast. My Thai told me its very easy to manufacture loations, soaps, and beauty products... I find this idea interesting, but have no idea where to begin... Any reccomendations on this idea, or another idea? I'm just trying to make a living, not get rich. Please keep the jokes aside. Thanks.

[canman]

You really need to research this fully mate. There will be plenty of guys along in a minute to give you the low down. You have 50K you are willing to spend, first question to ask yourself is do you have 50K you are willing to lose?

[HeavyDrinker]

but have no idea where to begin

I'll bite.

If you have no idea where to begin then don't start. Stick to what you know.

One thing many people forget it that Thailand has pretty much everything already. The number of people who come here with "New Idea" only to find it's been done to death already, is huge.

My advice: Come here, sit on your brass, have a good long look around for a few years then make a move....

[RaysFan]

Yea, lol, I realize this is pretty broad, but I feel with a good idea and good management, I should be able to make it. I plan on running the company myself and not partying all my profits away. I'm just looking for some ideas that would make be between 50,000-100,000 baht a month with my 1.5 mil baht investment. I would idealy like to get a real job, but I have no degree, and that is bad news for emplyment in thailand, so starting a business is pretty much my only option.

[HeavyDrinker]

You're 27 and have 50K but no degree.

I'd say invest the 50k in yourself first and get a degree....

[KarenBravo]

Thermometers have degrees and you know where they can be stuck.

A degree just means you have a good memory. Not necessary for starting a business. Common sense will get you a lot further.

[HeavyDrinker]

I take it you have no degree Karen?

I've read some nonsense on this forum at times but your post is pushing hard for the biscuit....

[jamescollister]

KennyN Thailand is no different then the US, you can't start with a little and make a lot, otherwise all Thais would be rich. Believe me their is no shortage of smart Thais with money who would be doing what you want to do if there was money in it.

Keep your money, get a teaching job and learn. Can't run until you can walk. Jim

[BoonToong]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

[RaysFan]

I was actually a very good student, held a 3.9 gpa... A job opportunity came up while I was a senior at a very good university in the US and I took it. I was making $100,000+ dollars a year as a 24 year old... hince, no degree. Would I like to finish, sure, but just never had the chance. Maybe I will finish in Thailand. This move is very real, I will probably be there in a month or 2 and I would like to stay forever. We have a lot of ideas, but I just wanted feedback from you guys, who have started businsees and have been successful or failed at them. Anyways, here are my ideas... Please give feedback.

1. manufacture beauty products, loations, soaps... sell them to local shops/parlors, sell online.

2. open a burger shop near a university or a business area, give it a funny american name, sell burgers for around 100 baht.

3. NY style pizza, same types of locations, also funny NY name, basically same idea...

4. Bar.... I hate this idea, but some people make it work...

5. internet cafe... Also hate....

6. Ebay/amazon store... buy products in markets, sell them on the internet to westerners...

I dont know, these are most of my ideas... Problem is that I have no expierence in any of them and I have no idea how to do any of it so it would be learning as I go. Feedback on the ideas?

[mania]

I have never started a company or ran one,

I find this idea interesting, but have no idea where to begin...

I think these two statements are your main hurdles.

If you never started or ran a company it will not be easy to magically become successful on your first try in a country where the language as well as the way of doing business is very different.

secondly to start a first business in a field that you have zero experience is yet another hurdle.

Instead you say you have a good job so I assume you have good experience in something.

If your set on starting your first business abroad then at least do yourself the favor of staring in a field you know if possible.

Good Luck I do believe in having an idea & backing it with hard work so don't take my comments as

a reason to not try. But try to find something with a better than even odds stacked in your favor if possible

Edited September 10, 2012 by mania

[RaysFan]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

I am a network engineer for the US government.

[KarenBravo]

I take it you have no degree Karen?

I've read some nonsense on this forum at times but your post is pushing hard for the biscuit....

Why would you assume that? My statement is from 35 years work experience in the oil-fields.

Work with both people who have degrees and many that don't. Experience and common sense is best.

I agree that a degree is necessary in getting a job, but, not starting your own business.

[HeavyDrinker]

If you're making that sort of brass, why give it up to run a shitty business here?

Sounds almost insane to me.

All of your ideas have been done to death BTW and you don't even seem that keen on most of them.

Karen, your statement smacked of someone with no experience of academe. You may have been lucky in getting a good job sans degree but many aren't.

Keep your silly opinions to yourself.

[besth]

I was actually a very good student, held a 3.9 gpa... A job opportunity came up while I was a senior at a very good university in the US and I took it. I was making $100,000+ dollars a year as a 24 year old... hince, no degree. Would I like to finish, sure, but just never had the chance. Maybe I will finish in Thailand. This move is very real, I will probably be there in a month or 2 and I would like to stay forever. We have a lot of ideas, but I just wanted feedback from you guys, who have started businsees and have been successful or failed at them. Anyways, here are my ideas... Please give feedback.

1. manufacture beauty products, loations, soaps... sell them to local shops/parlors, sell online.

2. open a burger shop near a university or a business area, give it a funny american name, sell burgers for around 100 baht.

3. NY style pizza, same types of locations, also funny NY name, basically same idea...

4. Bar.... I hate this idea, but some people make it work...

5. internet cafe... Also hate....

6. Ebay/amazon store... buy products in markets, sell them on the internet to westerners...

I dont know, these are most of my ideas... Problem is that I have no expierence in any of them and I have no idea how to do any of it so it would be learning as I go. Feedback on the ideas?

1. Is obvlously what you want to do. Unless you can bring something special to the table, a new product or a new marketing concept, you'll be out there with many others. Your business may survive, but difficult.

2. 15 to 20.000 Baht per month if you are lucky, 5 to 10.000 more likely. On the plus side, you probably don't need to spend the full US$ 50.000.

3. Same results and all of the 50.000 gone. If it works, a bit more income.

4. I'll send you an account number or better make a donation to some charity of your choice. The money will be better spent.

5. Small investment (a lot less than the 50.000 you have in mind). Small return, again around the 5 to 15/20.000 a month.

6. I think there is a recent thread where people explained their experiences, have a look.

By no means would I even try to discourage you to start something here, but if this is going to be your first time, get a 3 months visa and look around. The stay will only put a small dent to your 50.000 and will be money well spent/good learning.

Good luck!

[jamescollister]

I was actually a very good student, held a 3.9 gpa... A job opportunity came up while I was a senior at a very good university in the US and I took it. I was making $100,000+ dollars a year as a 24 year old... hince, no degree. Would I like to finish, sure, but just never had the chance. Maybe I will finish in Thailand. This move is very real, I will probably be there in a month or 2 and I would like to stay forever. We have a lot of ideas, but I just wanted feedback from you guys, who have started businsees and have been successful or failed at them. Anyways, here are my ideas... Please give feedback.

1. manufacture beauty products, loations, soaps... sell them to local shops/parlors, sell online.

2. open a burger shop near a university or a business area, give it a funny american name, sell burgers for around 100 baht.

3. NY style pizza, same types of locations, also funny NY name, basically same idea...

4. Bar.... I hate this idea, but some people make it work...

5. internet cafe... Also hate....

6. Ebay/amazon store... buy products in markets, sell them on the internet to westerners...

I dont know, these are most of my ideas... Problem is that I have no expierence in any of them and I have no idea how to do any of it so it would be learning as I go. Feedback on the ideas?

You are thinking farang prices in a Thai market, won't work. Internet cafe out here in the sticks about 20 Baht an hour. You need a lot of computers and hours to make any money. All food ideas will make Thai returns and you can only charge Thai prices.

Why would anyone want to buy your lotions and soaps, they can buy brand names cheap in a supermarket.

On line sales, that's a maybe if you are good and know your market, but most I have heard try ,fail.

You really need to think out side the square, making money is not easy anywhere. Jim

[thaicbr]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

I am a network engineer for the US government.

Can you do some other work for the US government via the net?

maybe enquire if there are any positions at the US embassy.

[mania]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

I am a network engineer for the US government.

Can you do some other work for the US government via the net?

maybe enquire if there are any positions at the US embassy.

Not a bad idea

https://www.usajobs.gov/JobSearch/Search/AdvancedSearch

[BoonToong]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

I am a network engineer for the US government.

My son started off as a network engineer and now runs his own business in the UK. I suspect that some of the analytical and problem-solving skills needed in your line of work would be relatively scarce here and marketing a service for the same shouldn't be too difficult.

I started my first business after reading a simple book on how to do it so don't be put off by never having done it before; we all have to start somewhere. I think as long as you are realistic and have some common sense, follow sound advice and you will be okay.

You don't necessarily have to be able to speak Thai but it would most certainly help (maybe your girlfriend could do some of the sales and marketing and you provide the expertise?)

Final tip? Only use 50% of your savings to develop your business. if it hasn't worked by the time that runs out, don't spend any more but move on to something else with all the lessons you have learned kept in mind.

Whatever you do, sounds like you are following your heart and doing what many people wish they had done when they were young enough to do it!

Good luck to you; enjoy the adventure

[rijb]

Take a trip here first. See the place. Learn as much as you can while you're here. But, leave your money at home!!

Then go back home and do some more homework. Check out the forums and ask for lots of advice. Then, shut up and listen. Ignore the trolls.

Good luck!

[bkkjames]

I suggest you just give half of it to me, keep the other half in the bank for yourself and save yourself the heartache in the long run

[RaysFan]

One other Idea I had was to buy 2 condos in newer buildings near a BTS.... I think I could rent them for 15000 or 20000 each for steady income?

[mania]

One other Idea I had was to buy 2 condos in newer buildings near a BTS.... I think I could rent them for 15000 or 20000 each for steady income?

Always a possibility but you need to look at it closely

First you said you have 50k USD

Can you really buy two condos in a newer building that rent for 15-20k THB per month with your 50k ?

Let's say you can,

50k USD = roughly 1,554,000 THB

1,554,000 / two condos rent income of 15k THB each or 30k THB total per month income

That means you see no profit or return on your money for 51.8 months

But, you will see CAM ( common area maintenance bill) for the condos in that time frame + repairs etc. & need to subtract that from the income increasing the time before you see a return.

Real Estate is a good investment mind you. But you need to be realistic in expectations if you need a return on your money in the shorter term.

Also with rentals they may not always be filled. But again you may enjoy appreciation if all goes well, Depreciation if it doesn't

Edited September 10, 2012 by mania

[TheWalkingMan]

The poster who mentioned that you should come here for 3 months first for a look around gave good advice. I am not sure if you have been to Thailand before but it can be very taxing on some people. The heat, smells, levels of customer service, the ideas of what is acceptable and not, language difficulties can wear some people down.

I hope that whatever you decide works out in your favor.

[simple1]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

I am a network engineer for the US government.

As a Network Engineer for a US government agency you will have IT certification from the likes of Cisco etc. It may be a challenge as you don't speak Thai, but I suggest you try & find some a role with one of the larger IT services companies in BKK - all the multinationals have a presence in Thailand and Thai staff would be required to speak English so at least it will give you some experience of the Thai culture and environment. At the same time you will not be drawing down on your savings for day to day living.

As other posters have said from a business perspective do not jump in feet first, settle in for a while, look around, do your research. Does GF have any hands on business experience as moving into the highly competitive world of skin lotions etc will require a lot of savvy, You may find that after looking around you & GF actually decide life would be a lot easier at this stage of life to return to the US and plan for a return to Thailand when you've got more cash in the bank.

Best of luck

[TravelerEastWest]

What is your current line of work? Might be better to think along the lines of researching a business that you might already have a lot of knowledge in.

I am a network engineer for the US government.

As a Network Engineer for a US government agency you will have IT certification from the likes of Cisco etc. It may be a challenge as you don't speak Thai, but I suggest you try & find some a role with one of the larger IT services companies in BKK - all the multinationals have a presence in Thailand and Thai staff would be required to speak English so at least it will give you some experience of the Thai culture and environment. At the same time you will not be drawing down on your savings for day to day living.

As other posters have said from a business perspective do not jump in feet first, settle in for a while, look around, do your research. Does GF have any hands on business experience as moving into the highly competitive world of skin lotions etc will require a lot of savvy, You may find that after looking around you & GF actually decide life would be a lot easier at this stage of life to return to the US and plan for a return to Thailand when you've got more cash in the bank.

Best of luck

Great idea - better yet a job in the US and get sent to Bangkok - you will live very well and can take your time investing... All problems solved.

[breadbin]

what advice would you give to someone who asked you about this?

Would you call them crazy and to be careful?

Would you ask are they prepared to give up everything and maybe more?

You know the answers already.

[RaysFan]

Honestly just looking for ideas... Well here is a better question I guess... How would YOU invest $50,000 in Thailand? People obviously make a living in Thailand. Its not impossible. I do like the idea of just living and observing for a few months, and I'm sure thats what I will do. We will be moving in with her parents for a couple of months when we get there anyways, so I wont be spending much money. I have been to Thailand a few times, and I have fallen in love with the culture, just as you guys have.

[steelepulse]

I'm not quite sure why you want to invest here, when there are safer investments back home. For example, a friend told me about condo rentals in Austin, TX where a condo costs 110K and the rents are commanding $1400/mo. Why not get a network engineer job here, or start your own biz and cater to foreign companies that can't afford a full time guy? You'll have your income and your 50K will still be safe. Get your resume out to some headhunters and see where that takes you.

[simple1]

OP: From an investment view out of all the businesses you listed, to be frank I wouldn't as you have no previous experience. Unless you are prepared for the potential to loose your seed money & put it down to a learning experience.

US IT services companies in Thailand in IT space IBM, CSC, H-P, Cisco etc etc Most likely HR function running out of Asia Pacific H.O. located in Singapore or Hong Kong. For more info on US companies with offices in Thailand try contacting the following or US Embassy in BKK (Commercial Attache)

http://www.amchamtha...asp/default.asp

Edited September 10, 2012 by simple1