Cost of buying/starting small business generation 30K/mth profit?

[NBD]

For anyone who's prepared to invest the time into learning Thai there are plenty of work opportunities. I translate documents for a company in BKK but there are many additional avenues of work for professional translators.

Admirable, but not something you can gen up on in a couple of months. How long would you say it took you to learn before you were able to translate documents professionally?

[belg]

For anyone who's prepared to invest the time into learning Thai there are plenty of work opportunities. I translate documents for a company in BKK but there are many additional avenues of work for professional translators.

so what are you earning from that?

my wife did some translations, in fact made a lot of their templates

and once all kind of documents were done, they start either to lower the price they offered my wife or just stopped cold...

as they got their templates and now all they had to do was fill in the name or address

[Notable]

I spent 4 years at KK university studying a BA in Thai language and culture, but I've met other translators who started working after 3 years of intensive study. It just depends on determination and application. It also makes a hell of a difference to your social experiences here.

[KRS1]

very funny, look for this:

1. don't have to work too hard

2. get 30000 baht per month

3. not trouble

4. legal in thailand

not possible, and if nobody will tell you, because this person who know how to do will be a very rich person, and for sure not tell you here for sure,

work legal ith bussiness = 60000 baht monthly income, what you have to tax, a 2000000 baht investment for limited company + 200000 Baht costs for set up this company, include you have to give 51% to 2 thai partners,

employ minimum 4 thai stuff with the costs,

I live also in CM but the kind of business you look for does not exist in thailand,

because this would like to do about 10000 foreigners in CM also and dont forget the 450 000 thai´s in Chiang mai who not make even 12000 Baht per month,

I dont know how much money you have to invest, you can buy or built good busness in CM but not with easy life,

good running business is expensive 1 to 1.5 yearly profit to buy. and every good business in thailand expect from you 10 -14 hours per day to work, very good nerves and be ready to loose your investment within 1 week

its possible, i own 8 websites that well exceeds the specified income of the OP.

getting there was the hard part, but now the hardest part of my day is deciding what i want to eat.

[Notable]

I mostly handle translations of legal documents, international procurements and some English translations for websites. Income will depend on how proactive you are, 100k a month is what I make on average. I know people who are on a lot more than that though, if you can speak Japanese as well you're going to make serious money. Japan are the biggest investor here.

[RecklessRon]

I say

Forget the starting a business idea.

You are farang. You live in Thailand. Make that your advantage.

There are many overseas companies who need reps and agents in Thailand. Take initiative (pick up the phone).

Thais can be difficult to work with. Your advantage you are not Thai.

This is what I did, im a rep. I oversee stuff and go to a meeting once a year in USA. Piss easy and lots of $$

a sales rep ? and dont you need to be able to speak thai with your suppliers or salesteam or whatever?

I agree.

Plus... 'pick up the phone'? Exactly who would I be calling? Cold-calling large companies on the off chance they might need a Thai agent who is a falang that barely speaks Thai? Seems to me like a needle in a haystack and a hell of a long shot. Then comes the part where they ask about relevant experience and I explain I spent 30 years as an international computer consultant having zero to do with actual sales or sales staff or marketing or dealing with suppliers or ....

If that's the case how do you expect to successfully run a SME in Thailand? Many of the attributes you say you don't have are a must in a self-managed SME, even at the retail level. Perhaps as already suggested a franchise is the way to go as operational processes & business analysis needs should be documented. Downside being it will probably require a heavy investment managing staff that will be a real challenge if your Thai is not proficient.

The 'attributes' I said I didn't have are experience not abilities. I never said I couldn't do any of those things, or do them well, just I HAVEN'T much experience doing those things.

I was an international computer consultant and worked all over the world advising government, manufacturing, banking and insurance companies about computer security. I have a strong work ethic and an IQ of 167 - meaning there aren't very many things that are too complex for me to understand or learn - if I want to put the time and effort in (although languages are my weak point - English was my worst subject in school. I got B+'s when all my other subjects were A+'s).

Also I will be buying the company so I don't have to prove my skills or go through any experience screening in order to get the job!

Plus, of course, I will be learning and listening to experts in whatever field I go into... it shouldn't surprise anyone to know I am an extremely fast learner and do exceedingly well in anything I set my mind to.

PS: Honestly, I do not believe there is ANYTHING that I can't learn to do extremely well if I want to badly enough.

[kurnell]

Buy a Fortuner and rent it for 35k per month

[RecklessRon]

Buy a Fortuner and rent it for 35k per month

Is that the going rate? Seems a bit high to me...

What percentage of the year would it be reasonable to expect it to be rented? I'd expect to be lucky to get 4 months rent per year (so I could buy 3) - can I legally/easily own multiple cars here?

[WinnieTheKhwai]

You can own as many cars as you like.

Illegally running a rental business without a work permit is another matter.

[elliottm]

"that I don't have to work too hard at": or preferably not work at all to avoid requiring Work Permit (no effort/work allowed for business without one), esp OP's stated return will be below the taxable WP salary if accepted (not to mention the mandatory accompanying Thai salaries, social security etc).

[NBD]

Buy a Fortuner and rent it for 35k per month

A long term leasing arrangement?

I have a friend who might be interested in doing this as he is heading back home for a year or so but doesn't want to sell the car. Any idea if this can be arranged through a company, or is it just a matter of finding someone to lease it yourself?

[belg]

im surprised that you did not invent a website that brings in a lot of money while you are sleeping or so the advertisements say on dubious websites (not here...)

you know the kind that speak of : i made 100k+ this month while doing nothing (baht or dollar, whatever suits you or fires you up to sign up)

[Cobragold]

I saw a recent ad in the Chiangmai Mai classifieds of TV. A guy is selling 5 condo units for 7 million bt. The monthly rental is 50,000. Problem solved you get the returns of more then what you want.

[Cobragold]

Don't know if this will work

http://classifieds.thaivisa.com/real-estate/apartments-for-sale/business-for-sale-259476.html

Nothing gain nothing lost if you try

[BuffaloRescue]

Buy a Fortuner and rent it for 35k per month

Is that the going rate? Seems a bit high to me...

What percentage of the year would it be reasonable to expect it to be rented? I'd expect to be lucky to get 4 months rent per year (so I could buy 3) - can I legally/easily own multiple cars here?

So why not be a consultant here then? You have a specific skill set. You know the industry. Call International companies, try to get to speak with the right person, tell them who you are, where you are, what your experience is etc and ask if they need any help representing them in Thailand. This doesnt necessarily mean a "sales job". They might want someone to run their office for them. Who knows. Much better idea.. for someone with an IQ of 167 I dont think you should be contemplating a 30,000 baht a month job running a noodle shop

You wont find good jobs listed in the BKK post, or anywhere else. You need to take some initiative. There are heaps of opportunities but you wont find them chatting to idiots in bars.

No im not going to spell it out for you, or say what I ended up doing.

[simple1]

I agree.

Plus... 'pick up the phone'? Exactly who would I be calling? Cold-calling large companies on the off chance they might need a Thai agent who is a falang that barely speaks Thai? Seems to me like a needle in a haystack and a hell of a long shot. Then comes the part where they ask about relevant experience and I explain I spent 30 years as an international computer consultant having zero to do with actual sales or sales staff or marketing or dealing with suppliers or ....

If that's the case how do you expect to successfully run a SME in Thailand? Many of the attributes you say you don't have are a must in a self-managed SME, even at the retail level. Perhaps as already suggested a franchise is the way to go as operational processes & business analysis needs should be documented. Downside being it will probably require a heavy investment managing staff that will be a real challenge if your Thai is not proficient.

The 'attributes' I said I didn't have are experience not abilities. I never said I couldn't do any of those things, or do them well, just I HAVEN'T much experience doing those things.

I was an international computer consultant and worked all over the world advising government, manufacturing, banking and insurance companies about computer security. I have a strong work ethic and an IQ of 167 - meaning there aren't very many things that are too complex for me to understand or learn - if I want to put the time and effort in (although languages are my weak point - English was my worst subject in school. I got B+'s when all my other subjects were A+'s).

Also I will be buying the company so I don't have to prove my skills or go through any experience screening in order to get the job!

Plus, of course, I will be learning and listening to experts in whatever field I go into... it shouldn't surprise anyone to know I am an extremely fast learner and do exceedingly well in anything I set my mind to.

PS: Honestly, I do not believe there is ANYTHING that I can't learn to do extremely well if I want to badly enough.

Having a high IQ does not necessarily translate to business/people skills.

Having worked within IT multinationals (e.g. IBM & CSC) as a sales guy I am surprised you claim not to have worked within the sales process or an account team structure. Any solutions requiring consulting services/infrastructure would require oversight or input by sales/account management. Were you self-employed, as that would require selling/marketing your services in one form or another.

To obtain an understanding of the Thai business climate & opportunities, perhaps it makes sense to approach the regional H.O. of some security vendors or SI for a role, perhaps 3/4 days a week, that would give you a good grounding/experience of Thailand for a year or so.

[RecklessRon]

Buy a Fortuner and rent it for 35k per month

Is that the going rate? Seems a bit high to me...

What percentage of the year would it be reasonable to expect it to be rented? I'd expect to be lucky to get 4 months rent per year (so I could buy 3) - can I legally/easily own multiple cars here?

So why not be a consultant here then? You have a specific skill set. You know the industry. Call International companies, try to get to speak with the right person, tell them who you are, where you are, what your experience is etc and ask if they need any help representing them in Thailand. This doesnt necessarily mean a "sales job". They might want someone to run their office for them. Who knows. Much better idea.. for someone with an IQ of 167 I dont think you should be contemplating a 30,000 baht a month job running a noodle shop

You wont find good jobs listed in the BKK post, or anywhere else. You need to take some initiative. There are heaps of opportunities but you wont find them chatting to idiots in bars.

No im not going to spell it out for you, or say what I ended up doing.

I don't know what you mean by 'I know the industry'. I know how businesses and government agencies operate but I have no idea who would need a falang representative in Chiang Mai who isn't very fluent in Thai.

You are correct that I could apply my analysis skills to this and treat it like it was a job search or work but through-out my career I used head-hunters (placement/recruiting agencies) to do the legwork because, mostly, it is an insiders game. Basically when a contract becomes available the local sales people (head hunters), who are smoozing the client's managers with free lunches, get first shot and cold calls have no chance whatsoever. No cold calls get through as they don't have the backing of a big agency who will pull bad/disliked consultants out and replace them with better ones, at the same cost or less, if anything goes wrong (to protect their reputation and relationship with the client). That's why I can work all over the world. I send my resume's to big consulting firms which they review and keep on file. Then their staff check to see who the best fit is whenever their clients have a need and, since I was easily in the top of my field, they'd contact me to see if I'm available and interested. Then it becomes all about price and timing. FYI: Only the guy on the ground can get wind of these contracts, if he is lucky and favoured. The clients need is always immediate and time is tight so the clients that contract me don't have the time and expense to do a job search. They simply call a few agencies, send them a list of the contract's requirements and have them send resumes of their top 3 people each (so head-hunters only market people with the required skills whom they think will beat out all the competitors submissions). Clients look over the resumes of 6 or 9 qualified people who have the backing of their consulting agency (at least to get the job - the headhunters are rarely around when there are problems at the job). Then they interview 3 or 4 and often make the decision in the interview as they are usually looking for the first best fit (actually they are usually pretty desperate to find anyone who can figure out their problem, fix it yesterday and do so within their existing structure with as little disruption to their other employees as possible). When they find such a person they close the deal ASAP. I can say, with a fair degree of certainty, that the last 20 years of my career I never had a contract that anyone else interviewed for who wasn't from an agency.

So anyway I'm not a salesman. I don't like selling. I don't market anything, except myself, and so I'm not going to cold call a bunch of companies hoping they would be interested. BTW: If I knew of a company looking for an agent I would contact them and check it out.

The fact is I HAVE enough money to BUY a business. I don't need to do all the work of inventing a new one from scratch or job searching (hopefully ever again). As has been pointed out I probably won't be allowed to work the business (although I'll do the books - FYI: I went through my first year of the University of Waterloo in their charter accountancy program before switching to computer science).

Also my not being allowed to work, hopefully, should put to rest all the 'lazy' and 'need to work harder' talk.

As for my IQ. I am smart enough to know I wasted the first 30 work years of my life chasing money and wise enough now to stop that idiocy and try to be happy instead (time to stop and smell the roses). I am 55 and single. Never married, although I had lots of trophy girlfriends and spent lots of money living the high life so I have wonderful memories of a great ride. However I moved every 6 months from city to city or country to country leaving relationships behind only to start again, and again, and again... Now I just want to settle down, play with a dog and look at some grass and trees instead of being inside an air-con building from 8am to 11pm 6.5 days a week or between contracts (unemployed) not knowing when or where I'll work again (and not going anywhere while hoping the money will last - as each new job means moving expenses, first and last, a month or so of hotels...).

So now I want to live life to its fullest, which doesn't include busting my ass as a wage slave regardless of how high that wage is.

I want to say thanks for everyone who contributed positively to this thread. It gave me a lot to think about. Currently I'm leaning towards a franchise and considering buying an existing one however I'm not going to buy any business until much closer to the next high season.

IMHO: Any business that counted on a large percentage of their annual take during the high season is likely in real trouble at the moment. A lot of these businesses are being dealt a death blow, due to the lack of tourists, but that won't be noticeable for several months as there is still enough business to keep them afloat. The upshot is that I expect the price of almost any given business should fall over the next 8 months - there are, of course, going to be exceptions but I stand by that prediction (so you can laugh at me in 8 months if I'm wrong).

[BuffaloRescue]

Maybe you are looking too high and too low.

Its like you are considering renting out a car, or being a consultant for a multinational.

I was thinking more about, finding a product that sells well in another country and its not being sold in Thailand. As an example a friend of mine found out theres a certain kind of car mat for rangerovers that isnt available in Thailand. He contacted the small supplier in the UK and now has the distributorship in Thailand and that cost him nothing. He sells about 50 mats a month for a profit of about 3000 baht each.

Better than noodle shop.

Not a pie in the sky idea or something where you are competing with 100's of people for a "job"

Get the idea?

[kurnell]

Buy a Fortuner and rent it for 35k per month

A long term leasing arrangement?

I have a friend who might be interested in doing this as he is heading back home for a year or so but doesn't want to sell the car. Any idea if this can be arranged through a company, or is it just a matter of finding someone to lease it yourself?

It will be a case of finding someone who wants to rent it. Then there is the risk that they will batter the crap out of it, leaving your friend with a heavy repair bill. I rented a bike to someone who returned it damaged as bikes tend to fall over.

[kurnell]

Buy a Fortuner and rent it for 35k per month

Is that the going rate? Seems a bit high to me...

What percentage of the year would it be reasonable to expect it to be rented? I'd expect to be lucky to get 4 months rent per year (so I could buy 3) - can I legally/easily own multiple cars here?

Looking at the Expat Motors monthly rental website, this seems to be the going rate. My colleague is renting a Soluna piece of crap for 22k a month, so 35k for a Fortuner seems about right. Not sure what Budget or Avis charge, but I reckon about the same. Better to get a real job and maybe do something like this on the side.

[belg]

you want ot do a business that might be profitable and hardly or not seen in thailand ? PROBIOTICS... excist in all western countries, but even BLACKMORES does not import or sale them overhere...

many health concience farangs want to buy they but you cannot find any shop that sells them overhere...

or other supply that is available in GNC in the US, but not in Thailand, a lot of stuff here is 3x the price of the US = thais taking the profits...

[jackr]

I saw a recent ad in the Chiangmai Mai classifieds of TV. A guy is selling 5 condo units for 7 million bt. The monthly rental is 50,000. Problem solved you get the returns of more then what you want.

Defo the best way for passive, least hassles income here methinks. I mean, why go through all the anguish of mixing about with a business and dodgy locals if one wanted to sit back and smell the roses? I know a chap who has three units at a smidge over a mil each in a newer apartment out of town, spruced them up and rents for 10-12k a piece... 12.5% tax I think it is.

Op is not interested in ROI, but if you have the capital, it makes sense as bricks & mortar has generally always been a winner and you will have something to fall back on (likely extra) when you cash out.

There are not many other sure-fire options in today's fast-moving world, and especially for us lot in this land. You can legally own condos and other than a lawyer for contracts, you won't need to be messed around with people day to day. In 20 years time, many many businesses will have failed, but your condo will (should) still be standing.

While they are pulling in easy baht, you could build a site, perhaps targetting consultancy or blogs on computer repair & whatnot. With the likes of Joomla and Wordpress (wysiwyg editors) coming as standard with hosting packages, a basic site can be knocked up in a few hours by just about anyone without knowledge of HTML coding.

[jackr]

Also, with all that spare time, if you're into photography, get a half-decent camera, spend some time mincing around the countryside (beautify shots with Photoshop like everyone else) and upload to the likes of iStock who will sell for you.

[beau thai]

Have you considered Search Engine Optimisation? -you 'control' but get the legwork done cheaply in India. Not hard to organise and perpetual motion to try and stay high on Google. Also, the english versions of many thai websites are in dire need of improvement......

Both opportunities in your sphere of knowledge surely?

But, idle curiosity, why did you feel the need to check out your IQ? And tell us all its 167? For some reason it reminds me of the great quote from the inspirational Simon Weston who got his face burned off in the Falklands War, when describing a 'superior' officer - 'intellectually brilliant and as much use as a lighthouse in the desert' Doesnt apply to you though-just came into mind. .

And why do you tell us about your past life with 'trophy' girlfriends??

Nothing to prove here surely at 55? just chill out and enjoy life. Maybe we only get one time around.....

[RecklessRon]

Have you considered Search Engine Optimisation? -you 'control' but get the legwork done cheaply in India. Not hard to organise and perpetual motion to try and stay high on Google. Also, the english versions of many thai websites are in dire need of improvement......

Both opportunities in your sphere of knowledge surely?

But, idle curiosity, why did you feel the need to check out your IQ? And tell us all its 167? For some reason it reminds me of the great quote from the inspirational Simon Weston who got his face burned off in the Falklands War, when describing a 'superior' officer - 'intellectually brilliant and as much use as a lighthouse in the desert' Doesnt apply to you though-just came into mind. .

And why do you tell us about your past life with 'trophy' girlfriends??

Nothing to prove here surely at 55? just chill out and enjoy life. Maybe we only get one time around.....

It was my foolish attempt to get posters to understand I don't want a job I want a business and that I am quite capable of learning any business I choose. Also that I wasted the first half of my life chasing the almighty dollar to live the high life resulting in my not having a family (trophy girlfriends were along for the ride ONLY - none ever said "let's stop going out 5 nights a week, dropping $500 a night, we can stay home. I'll cook and we can save for our future" and none made it past the first move) and now I am no longer going to do that, now I am trying to pursue happiness instead - hence a desire not to be working long hours!

[beau thai]

Have you considered Search Engine Optimisation? -you 'control' but get the legwork done cheaply in India. Not hard to organise and perpetual motion to try and stay high on Google. Also, the english versions of many thai websites are in dire need of improvement......

Both opportunities in your sphere of knowledge surely?

But, idle curiosity, why did you feel the need to check out your IQ? And tell us all its 167? For some reason it reminds me of the great quote from the inspirational Simon Weston who got his face burned off in the Falklands War, when describing a 'superior' officer - 'intellectually brilliant and as much use as a lighthouse in the desert' Doesnt apply to you though-just came into mind. .

And why do you tell us about your past life with 'trophy' girlfriends??

Nothing to prove here surely at 55? just chill out and enjoy life. Maybe we only get one time around.....

It was my foolish attempt to get posters to understand I don't want a job I want a business and that I am quite capable of learning any business I choose. Also that I wasted the first half of my life chasing the almighty dollar to live the high life resulting in my not having a family (trophy girlfriends were along for the ride ONLY - none ever said "let's stop going out 5 nights a week, dropping $500 a night, we can stay home. I'll cook and we can save for our future" and none made it past the first move) and now I am no longer going to do that, now I am trying to pursue happiness instead - hence a desire not to be working long hours!

Hmm-not sure I would describe your life as 'wasted' Ron!

Another quote comes to mind (maybe I cant have original thoughts any more!!) Georgie Best : Something like ' I spent most of my money on girls, fast cars. and booze - the rest I wasted.'

[RecklessRon]

Well that's a matter of opinion. Most people my age have kids. Maybe they are widowed or divorced and they may have the ex-from-hell but they have family. My parents have passed on so I am alone. It really hits home when my bank asks for a contact or beneficiary and I have to pick a friend I met less than a year ago! Don't get me wrong I had a great time partying but I have nothing left but the memories (and a really small amount of cash considering how much I earned over almost 3 decades).

[NBD]

It sounds like you're coming to Thailand to make an honest living and meet a decent girl who is not materialistic? God help you.

[chuang]

Money lending...roy yee-sip......

[FiftyTwo]

Well that's a matter of opinion. Most people my age have kids. Maybe they are widowed or divorced and they may have the ex-from-hell but they have family. My parents have passed on so I am alone. It really hits home when my bank asks for a contact or beneficiary and I have to pick a friend I met less than a year ago! Don't get me wrong I had a great time partying but I have nothing left but the memories (and a really small amount of cash considering how much I earned over almost 3 decades).

In Thailand you need never be alone.

Wife and kids no problem (assuming no snip) at any age.