Classic Business Car Crash.

[CNXBKKMAN]

Staff at 100 baht a night. If they work everyday of the month they earn 3000 baht! how many locals think that is a good deal?

If the business was making a nice profit whilst the offer was running but didn't switch back, my worry would be they were not making money to start with. There was no or low profit when it was busy?

80k punt is worth the risk if you have the energy to do it. As they say "he who dares wins Rodney".

[NeverSure]

Good idea...I shall remember that one.

In a country town I visit there is an all you can eat that does huuge business.

Piles of meat that looks like a salmonella hotel to me, but there would be easily easily 100 people a night in the place.

Krisb, If you went in there and all you ate was piles of meat they'd lose money on you. But they have their ways too. They probably put out piles of things that are hard to make at home and that taste really good but are cheap to make. Most people want to sample some of a lot of things.

Two of the most profitable items that a restaurant can have are Coke/Pepsi from a machine, and a soft ice cream machine. The soft drinks are made from an inexpensive syrup and the ice cream isn't ice cream but rather an artificially flavored dairy product that's whipped and puffed full of air. Another cheap one is coffee. Delicious macaroni dishes...

There are chains of those in the US and their food is fantastic, but they still know how to work the averages.

Cheers

[Rajhulmaheesh]

80,000 start up capital. 200,000 profit a month. Can a real businessman say yeah or nay.

As a person who eats food i find this highly un-realistic.

[Nemesis7]

Vi have a feeling you will do good and will be successful. Go for it. All the best wishes for you.

[TPI]

So you give away pork worth $6. To make that up patron need tabs of @ least $70. assuming gropp profit % of 11%(which i would consider low).

Then if operator wants profit he needs patron to eat 5lbs of rice and drink 20 bottles of beer....................hahaha.

No wonder he was the only one doing the DEAL. and doesnt want to go back to it.

Since when is a proven business model defined by months of opearting.

Pork around here is 155 baht per kilo and if you go to Tesco at the moment you can get it on offer for 109 baht/kilo.

Each portion is 200g of meat so as low as 22 baht per serving which they sell for 159 baht.

So 318 baht for 600g of meat costing no more than 105 baht.

Seriously mate...... don't go into business with your mathematical skills..... You will be bankrupt in a week.

3 months at full capacity while the 3 for 2 offer was in place in a location with successive failures over a 5 year period.... then declining rapidly as soon as the offer is lifted, is not enough information for you to decide what the success was based on?..... a second reason for you to never venture into business.

Good luck mate, I hope you don't have to many Thai partners!

[TPI]

80,000 start up capital. 200,000 profit a month. Can a real businessman say yeah or nay.

As a person who eats food i find this highly un-realistic.

80k start up sounds about right, 200k a month profit is kicka**e time, count ME in as a partner?

[Chivas]

I know my numbers are way off...lol. minutiae doesnt matter. Only a fool think $80k will generate $6k a month in profits in a run of the mill korean bbq. A no-brain man....hahaha!

3 months with a gimmick is not what i call a succesful proven business model. What a goofball op is.

You really ARE brain dead.

80,000 baht to you converts to $80,000?

You have been getting ripped off mate.

You call ME a goofball....... lol

80K BAHT is nothing to me, and is worth a punt any day.

Such is your obvious lack of business nouse, I think I will stick to the absolute opposite of what you think and I should be safely successful. This is my soon to be 5th business here in this town, and the other 4 are very successful.... I have lots of confidence in my abilities.

So why are you teling everyone how to do it........I'd have thought your mouth would be completely shut

ps I've just located the Tenants and back handed them a 100k........You're no longer number 1 on their list..........See my point

Nobody on here even knows what town I live in, let alone the restaurant in question..... So your point is exactly?

Took me around four and a half minutes.......will PM it to you

[impulse]

The soft drinks are made from an inexpensive syrup and the ice cream isn't ice cream but rather an artificially flavored dairy product that's whipped and puffed full of air. Another cheap one is coffee. Delicious macaroni dishes...

Missed it on the "ice cream". Nowadays, it's an artificially flavored, whipped and puffed polymer product.

I think they worked the actual dairy out of the recipe in the '80s or '90s. Or at least the vast majority of it.

Your point is still valid...

[Rajhulmaheesh]

Also. Do you really think the lanlord doesnt know what his property is worth. Im sure he is well aware of whats going on. IF landlord gleefully accpets op offer id do a run forrest run.................hahaha.

If landlord changes terms and raises rent OP may have something.

OP should take note of that.

[FrankOff]

my wife always said that "Thais like to start at the top and then work their way down"...or start big and end small.

She admires the Chinese work ethic of doing the exact opposite.

It is a truism that Thais do like to 'populate' a certain business for a given time then suddenly drop it like a hot rock and move on...perhaps its just the endless pursuit of the 2 for 1 deal.

The Op talks about "greed" bringing down the business ...... but its also greed that is motivating him to jump into the same business....so you have done some math...so what...I hope you have more than just numbers in your head.....wait until you actually run a restaurant ......eventually into the ground.

[Bung]

I thought this was going to be about a classic car business crash......

[Mrhollywood67]

Seriously mate...... don't go into business with your mathematical skills..... You will be bankrupt in a week.

Let me know if stock in your restaurant goes public.

I'd like to short it.

You've dissed 2 guys giving excellent feedback. Not a great skill to have in the hospitality business.

Agree. This is one arrogant SOB who really, really doesn't know what he's doing.

Lol....... You will never find me working in a restaurant..... I don't work in any of my businesses, i just run them and count the cash...... So I can be as arrogant as I want.

This forum is full of mean spirited, spiteful old codgers who just want to see every one of their fellow expats fail at everything... Mostly based on jealousy and their own bitter and twisted unsuccessful and boring existences.

Had I left out the last paragraph, the replies would have been a whole lot different... But as soon as I mentioned that I will take the place over, the bile erupted from the sad acts..... Typical TV member hatred.

[Mrhollywood67]

Seriously mate...... don't go into business with your mathematical skills..... You will be bankrupt in a week.

Let me know if stock in your restaurant goes public.

I'd like to short it.

You've dissed 2 guys giving excellent feedback. Not a great skill to have in the hosŷypitality business.

Agree. This is one arrogant SOB who really, really doesn't know what he's doing.

Lol....... You will never find me working in a restaurant..... I don't work in any of my businesses, i just run them and count the cash...... So I can be as arrogant as I want.

This forum is full of mean spirited, spiteful old codgers who just want to see every one of their fellow expats fail at everything... Mostly based on jealousy and their own bitter and twisted unsuccessful and boring existences.

Had I left out the last paragraph, the replies would have been a whole lot different... But as soon as I mentioned that I will take the place over, the bile erupted from the sad acts..... Typical TV member hatred.

That's absolutely bang on summary of 80% of the posters here on TV. It's great to hear some one with a positive angle on life!

Good luck after you take over.

[impulse]

Had I left out the last paragraph, the replies would have been a whole lot different... But as soon as I mentioned that I will take the place over, the bile erupted from the sad acts..... Typical TV member hatred.

That's absolutely bang on summary of 80% of the posters here on TV. It's great to hear some one with a positive angle on life!

Good luck after you take over.

I think most of us wish the guy well.

But I'd still bet against him. And anybody that tries to set up a restaurant in Thailand (or New York or California or Sydney or London, or..or..) Simple fact is that the majority fail. Being a very experienced diner doesn't translate into being a successful owner.

Add that to the fact that the vast majority of foreigners investing their personal and family savings in small business in Asia end up losing their shirts. Of course there are exceptions. Downright inspirational exceptions.

But I know which way I'd bet. Because I've seen a lot of friends go back home broke in 15 years here, in spite of great business plans and heroic efforts.

If past performance drove the post counts, I suspect 95% of them would warn against the endeavor, and not just 80%. We're not being mean. In fact, just the opposite.

That's the beauty of the written language. I can learn from the mistakes of others and don't have to lose my shirt because I know nothing of the trails blazed and experiences of those who tried it before I did.

Edited January 24, 2015 by impulse

[flexplas]

Hi There,

I like your enthusiasm but I don't think you should do it.

I'm not trying to put you down or anything but the reason why is because as of 1st Jan 2015 the Thai Government has made it illegal to pay anyone under 300Baht/day...

So it may put a dent in your plans.

But..... What you can do is offer "farang" style cuisines to your customers using the same quantity of ingredients to make them as you would with the local dishes.

Or alternatively, you can make a small farm somewhere to produce your meat...ORRRR you can contact the farmers directly and ask them for bulk prices on meat which you should be able to get much cheaper than at TESCO or Big C.

The other thing would be to hire High School students and only open after about 5 p.m when everyone gets off work/ school.

You can also do home-made beer/alcohol as well as offer pickles which are very easy to make. Just get a tank, fill it with salt water and dump the cucumbers in there for about 3 months and BAM! Home-made pickles.

There's also other things you can do for dessert dishes; for eg. take some dried oats and a tea spoon of honey and mix it into a ball, pop it into an oven for a few minutes and you got delicious tasting home-made cookies.

Just a few ideas off the top of my head.

Also keep in mind that saying these things and doing them are two COMPLETELY separate things.

Source: Just a dude who likes to see others succeed.

Edited February 17, 2015 by flexplas

[Changnoi2]

Do you feel comfortable giving staff 100 Baht a day? I certainly couldn't look myself in the mirror after handing over that amount after a hard days graft.

[georgegeorgia]

Seriously mate...... don't go into business with your mathematical skills..... You will be bankrupt in a week.

Let me know if stock in your restaurant goes public.

I'd like to short it.

You've dissed 2 guys giving excellent feedback. Not a great skill to have in the hospitality business.

Agree. This is one arrogant SOB who really, really doesn't know what he's doing.

Lol....... You will never find me working in a restaurant..... I don't work in any of my businesses, i just run them and count the cash...... So I can be as arrogant as I want.

This forum is full of mean spirited, spiteful old codgers who just want to see every one of their fellow expats fail at everything... Mostly based on jealousy and their own bitter and twisted unsuccessful and boring existences.

Had I left out the last paragraph, the replies would have been a whole lot different... But as soon as I mentioned that I will take the place over, the bile erupted from the sad acts..... Typical TV member hatred.

Omg...well stop telling us..I dont think anyone here really cares !!

Its your business..

[Don Mega]

You can also do home-made beer/alcohol

Whilst the profit margins might be good selling home made booze the fact it is illegal and the attention that will attract from the police may eat into those profits really quickly in large amounts.

[Trembly]

Any updates?