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

[brit1984]

You don't need to be a genius to be successful as an entrepreneur but you do need imagination, common sense, problem solving skills and (above all) determination. If you have these, you can make it work but (as others have mentioned) starting out as an entreprenuer in a foreign country will be difficult. There are plenty of good business opportunities here but there are many money pits too.

50k USD isn't really enough to set up a bricks and mortar business that will inevitably rise above the local competition, so you better focus more on virtual type businesses that require minimal initial investment.

As you have some marketable skills of your own you should first try to set up some sort of consultancy, or anything else you can think of based on your existing experience that can be set up for little up front cost.

Try to keep 90% of your assets in reserve until you find something that works, then you can use it to invest for growth, or to get your own business premises for your virtual business.

By the way, what are you going to live off while you get your business / businesses up and running? Probably sensible if your partner finds work with a monthly salary to pay the bills.

[jamescollister]

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.

If I had a spare 50 grand I would be looking at buying equipment for turning coconut husks into charcoal. Somewhat out side the area you are looking at. Jim

[breadbin]

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.

I wouldn't.

Simple

[breadbin]

quote from the OP:-

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

Nice one OP, funniest thing I have heard a farang say in ages! Ah, the naiavety of some people!

[RaysFan]

You don't need to be a genius to be successful as an entrepreneur but you do need imagination, common sense, problem solving skills and (above all) determination. If you have these, you can make it work but (as others have mentioned) starting out as an entreprenuer in a foreign country will be difficult. There are plenty of good business opportunities here but there are many money pits too.

50k USD isn't really enough to set up a bricks and mortar business that will inevitably rise above the local competition, so you better focus more on virtual type businesses that require minimal initial investment.

As you have some marketable skills of your own you should first try to set up some sort of consultancy, or anything else you can think of based on your existing experience that can be set up for little up front cost.

Try to keep 90% of your assets in reserve until you find something that works, then you can use it to invest for growth, or to get your own business premises for your virtual business.

By the way, what are you going to live off while you get your business / businesses up and running? Probably sensible if your partner finds work with a monthly salary to pay the bills.

Girlfriend is currently working for Qatar Airways, she will get a flight attendent job with BKK Airways around December... Salary should be between 75,000-100,000 baht a month. Its enough for both of us to live off of, but as the man... I need to do my part as well.

I wont be jumping straight into business ownership, I have a few months to figure things out. Just trying to field some tips, advice, ideas. I just need SOME income. Like I said, we are trying to make Bangkok our life, not just a couple year vacation. So I am trying to do this right....

[RaysFan]

quote from the OP:-

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

Nice one OP, funniest thing I have heard a farang say in ages! Ah, the naiavety of some people!

lol, it does sound funny, but I think my senerio is slightly different than most... This isnt a girl I met on the internet, or a bar as some of you might have... We are both living and working in Qatar, she is working for Qatar Airways making about 1.5 mil baht a year... Her father also just sold his construction company and is now retired and is asking for no money (owns a 4 bedroom house in BKK) and she is the only child. I highly doubt that I am being taken or whatever. Not like shes asking me to bring her and all of her family to America and to have me support them... Her parents are just trying to help us get on our feet.

[breadbin]

Good reply Kenny.

I wish you luck.

Just one question or comment, I dont think that BKK Airways crew get as much as you think. certainly not 75k per month, that woul dbe a pilot salary and more than a doctor.

Cheers

[RaysFan]

Good reply Kenny.

I wish you luck.

Just one question or comment, I dont think that BKK Airways crew get as much as you think. certainly not 75k per month, that woul dbe a pilot salary and more than a doctor.

Cheers

Hmmmmmm, she has many friends who are BKK Airways and they all are saying basic salary is 60,000 a month...

[Pib]

...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....

I wouldn't recommend going down this road....bath & beauty-type products are sold by everybody and his brother in Thailand. In fact, many so called pharmacies are really nothing more than 90% beauty products and 10% over-the-counter type medications....beauty products mostly from big name/well known manufacturers. Thai's are getting smarter in avoiding no-name/never-heard-of-them type beauty products. Most Thai girls want name brand/known products. I always joke with my Thai wife about how so many pharmacies, like the ones in Lotus and Big C (the Walmarts/Kmarts of Thailand), are really nothing more than bath & beauty products. Now, don't make the assumption that because so many places sell bath & beauty products that means any such business makes easy money as the competition must be fierce with everybody and his brother attempting to make a baht in such a business.

[CWMcMurray]

Before you go to far the cosmetics road , it may be useful to know that this is a highly regulated industry in nearly all countries due to safety/health issues with products put on the skin

So if you are thinking about exporting to any other countries, you may want to think about who your customers will be

As who ever you will be selling to will likely need to have the ability to apply for import permits i. The respective country's FDA(or equivalent)

[jpinx]

Stick to what you know. If you don't now - go and learn. Don't ask for advice on your future life on a forum - TV is no better than any of the internet forums and has plenty of "opinions" . If your intended is so well connected in thailand - you will get better advice from her family and friends

[maxman71]

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.

Heavy Drinker-- I also have no 4 year degree. I've been working full-time since the age of 15 (I am 53 now). I have held Director positions in S&P 500 companies. It is very true that the lack of degree made it more difficult for me to climb the ladder, but climb I did, and had people working for me who had their Masters who couldn't come up with concise, coherent and effective strategies, whereas I did. They also could not figure out how to implement those strategies in highly cost-effective manners; I could. Ultimately, if one can deliver the goods, it may mean they will need to work much harder to prove it (I did just that). But once it's been proven enough, smart employers will go with the people that can deliver the goods. This describes my career in the business world. I was actually a music performance major in college. Having a 4 year degree means nothing when that instrument is placed in your hands and it needs to be played correctly. So I practiced my arse off and made it sound as it should have and I made a decent living at it for several years on a freelance basis. So, sir, I acknowledge certain professions absolutely require at least a 4 year degree (medicine, law, etc.). But outside of those certain professions, if you can deliver the goods, the door is open.

[maxman71]

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?

KennyN...I made the jump to Thailand 7+ years ago without having an established business. I note your situation to the extent you have provided information and make the following comments:

1) You have USD50K available...Comment: Does USD 50K represent your total amount of savings? Or will you keep a further "stash" back in the US? When I moved here, I had substantially higher than $50K all totaled.

2) You have no experience in the various endeavors you outline as potential business pursuits. Comment: You stand to burn through the 50K pretty fast between living expenses, business start-up costs and "learning curve" costs. I don't think a 50K front will be sufficient.

When I moved to Thailand, I had been living and working in Taiwan for 3 years as an expat for a S&P 500 co. in the semiconductor industry with reponsibility for 7 countries and 800 employees in Asia Pac; I already knew my way around Asia when I moved to Thailand and had visited Thailand numerous times before deciding to move here. I was only in Thailand 10 days when an old boss contacted me and asked me to do some consulting work for his internet co. for their Asia Pac operations. That blossomed into full-time plus work and enabled me to set up a Thai limited co. and I remain very busy.

Other responders have suggested to you that you may just want to come here and hang out for awhile and get a feel for what's going on here; to see if you like it, can learn the language, and get a feel for what sort of biz will succeed here and if you can make it work. I also note that doing biz with the local Thais is significantly different than doing biz with established US companies, which are who my clients are.

I am all for seeking adventures, taking risks, etc., but those risks need to be calculated and quantified as much as possible. And, very importantly, have a backup plan if your Thailand endeavor fails. I have met more than one farang who came here on a whim and left here within a year penniless.

All the best to you.

[breadbin]

Good reply Kenny.

I wish you luck.

Just one question or comment, I dont think that BKK Airways crew get as much as you think. certainly not 75k per month, that woul dbe a pilot salary and more than a doctor.

Cheers

Hmmmmmm, she has many friends who are BKK Airways and they all are saying basic salary is 60,000 a month...

No chance, are you sure they are not saying 16,000bt per month?

If it were that much I'd apply!

I think you are being told lies!

be careful.

[southpacific001]

Hi Kenny -- I know of two farang start-ups that ended in tragedy -- the first, an internet cafe, failed after local stall-holders joined ranks and effectively blocked street access to the building by positioning their stalls in the way. Second, a guy who started a pub had a visit from some thugs - a lady threw boiling water over him, then he was attacked with a metal bar. He kept the business going, but he had to employ an ex-cop to sort things out for him.

I would avoid a business where you are competing with locals in the area, and maintaining a high profile at street level.

Perhaps you could spend part of the year consulting in markets you already know, eg Qatar, then R & R back in Thailand for a couple of months at a time. Be a technocrat and trade your expertise.

[prechanut]

Well, if I were you, I would take advantages of having connections in US (I assume that you do). Probably finding a nice product from US then import it to Thailand.

There are a big group of Thai people who love product that is made out outside Thailand (not made in China though but you get what i mean )

However, my suggestion is you should first know Thai people. How we live, what we need, our buying behaviors, and so on, are critical.

One of your ideas is selling burger around university/school area. It is not a bad idea but do you know that about 65% of Thai people dont eat beef? Moreover, once

we talk about burgers, the only thing comes in our mind is Mcdonald which has many branches including around many universities area. Can you compete them?

Why would they buy your burger since they can buy a branded burger from Mcdonald at almost the same price?

Best luck anyway

[onthemoon]

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.

Heavy Drinker-- I also have no 4 year degree. I've been working full-time since the age of 15 (I am 53 now). I have held Director positions in S&P 500 companies. It is very true that the lack of degree made it more difficult for me to climb the ladder, but climb I did, and had people working for me who had their Masters who couldn't come up with concise, coherent and effective strategies, whereas I did. They also could not figure out how to implement those strategies in highly cost-effective manners; I could. Ultimately, if one can deliver the goods, it may mean they will need to work much harder to prove it (I did just that). But once it's been proven enough, smart employers will go with the people that can deliver the goods. This describes my career in the business world. I was actually a music performance major in college. Having a 4 year degree means nothing when that instrument is placed in your hands and it needs to be played correctly. So I practiced my arse off and made it sound as it should have and I made a decent living at it for several years on a freelance basis. So, sir, I acknowledge certain professions absolutely require at least a 4 year degree (medicine, law, etc.). But outside of those certain professions, if you can deliver the goods, the door is open.

The most important sentence is the last one. Most people will need the degree to learn HOW to deliver, only a few are naturals.

I strongly recommend the OP invests in his education first.

[tombkk]

A bitching post and an empty quote have been removed from sight.

[onthemoon]

On second thought, I would advise the OP to come here first and research the market for a few months. It is very easy to lose this amount of money in any country, especially if you don't have experience and connections in the industry.

You need FDA approval to sell any cosmetics in Thailand, and that's a big hurdle. If you want to stay legal that is, and I suggest that you do.

[watcharacters]

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....

I disagree.

[watcharacters]

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?

KennyN...I made the jump to Thailand 7+ years ago without having an established business. I note your situation to the extent you have provided information and make the following comments:

1) You have USD50K available...Comment: Does USD 50K represent your total amount of savings? Or will you keep a further "stash" back in the US? When I moved here, I had substantially higher than $50K all totaled.

2) You have no experience in the various endeavors you outline as potential business pursuits. Comment: You stand to burn through the 50K pretty fast between living expenses, business start-up costs and "learning curve" costs. I don't think a 50K front will be sufficient.

When I moved to Thailand, I had been living and working in Taiwan for 3 years as an expat for a S&P 500 co. in the semiconductor industry with reponsibility for 7 countries and 800 employees in Asia Pac; I already knew my way around Asia when I moved to Thailand and had visited Thailand numerous times before deciding to move here. I was only in Thailand 10 days when an old boss contacted me and asked me to do some consulting work for his internet co. for their Asia Pac operations. That blossomed into full-time plus work and enabled me to set up a Thai limited co. and I remain very busy.

Other responders have suggested to you that you may just want to come here and hang out for awhile and get a feel for what's going on here; to see if you like it, can learn the language, and get a feel for what sort of biz will succeed here and if you can make it work. I also note that doing biz with the local Thais is significantly different than doing biz with established US companies, which are who my clients are.

I am all for seeking adventures, taking risks, etc., but those risks need to be calculated and quantified as much as possible. And, very importantly, have a backup plan if your Thailand endeavor fails. I have met more than one farang who came here on a whim and left here within a year penniless.

All the best to you.

i think you must be Tom.

[tombkk]

i think you must be Tom.

Come again?

[cheechoo]

whenevr a thai gf mentions business where you supply the capital its time to get a new gf!!!!!!!!!!!!!!!!!!!!

[cheechoo]

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.

Guys love thailand but it surely isnt for the culture................lol. You got a lot of learning to do!

You really intend to freeload on the girls parents?????????????

Edited November 25, 2012 by cheechoo

[Pacificperson]

You say that you quit school in your senior year and had a 3.9 GPA. I know what I would do. I would take $10K and enroll in a Thai University for a year and finish my degree if I were you. You would have a year's experience in Thailand, picked up some language skills and had time to look around for a business niche and most importantly gotten a degree. Contrary to what some will say there are some good universities in Thailand.

Edited December 6, 2012 by Pacificperson

[Humbugged]

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....

I dont have a degree HD...I retired at 39.....can I have a biscuit ? I like anzacs to dip.

[aussiesuisse]

Why not do some research into a 3D printing service, I need some prototype plastic profiles made and found only 1 company in Thailand on the net (in English language) in BKK that provides this service. I had a Thai friend call them, sent my drawings to them, another follow up call and never got a reply. So now going to China.

Just a thought.

Edited December 11, 2012 by aussiesuisse

[copa8]

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.

you are just looking for 3.3% to 6.6% a month?!? i know i haven't been to thailand for a few years, but is it that easy now to earn such high rates of return? sheesh.

i think at best expect 1/10th of that and at worse expect to lose the whole bht1.5mm.

[a99az]

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?

Good advice here and from many others.

Keep your money where you won't be tempted to draw it. Then come and have some fun until you have the full picture.

[copa8]

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....

I dont have a degree HD...I retired at 39.....can I have a biscuit ? I like anzacs to dip.

yeah, but the chances of someone able to make a decent living is far greater with a degree than without one. you could've easily still be flipping burgers.