Muzarella Posted July 26, 2015 Share Posted July 26, 2015 Most foreigners here are saying that Thailand is not good for business....but.... Most Thai billionaires are in the food or beverage business....selling locally and internationally... Most foreigners I met.... doing very well in Thailand... are in the food export business.. Thailand is a very big food producer......with very low farming cost......comparing with western countries and Japan. Makes sense. Link to comment Share on other sites More sharing options...
onthemoon Posted July 26, 2015 Share Posted July 26, 2015 Whether you would say "business" is good in Thailand or not, depends on the industry, location, competition (both domestic and international), your experience in the industry and your own connections to suppliers and customers. Link to comment Share on other sites More sharing options...
catman20 Posted July 27, 2015 Share Posted July 27, 2015 the only way to make a small fortune in Thailand is to start with a big one. Link to comment Share on other sites More sharing options...
Sharp Posted July 27, 2015 Share Posted July 27, 2015 The first thing you need is a Thai national who is trustworthy!! So there in lies the biggest hurdle!! With that said personally I found commercial property rentals very profitable. Especially if you can aquire tenants such as Family Mart, 7Eleven and alike. Link to comment Share on other sites More sharing options...
Muzarella Posted July 27, 2015 Author Share Posted July 27, 2015 the only way to make a small fortune in Thailand is to start with a big one. One of my friends...a retired German who was a teacher in Hua Hin....got married and started his food processing factory with 400.000THB 15 years ago. He is retired again....after selling his business for 1 million...US dollar. Now he is investing in vacation properties. Another one, a youger Canadian..started a food processing operation in Chiang Rai with his Thai wife on a 4 rai city plot...few years ago, and it is doing very well exporting to Canada, USA and the UK. Now he opened his products to the Thai market too. A Thai billionaire, the onwner of the Oishi beverage group, started his company with 200.000 THB. The owner of CP Food C, and 7/11 chain, is the richest man in Thailand...followed by the owners of Red Bull, etc. The food business is not only good here in Thailand..... The owner of Starbucks started his business in the US with no money. Restaurants do not make billionaires...but fast food, supermarkets, and processing food do...in any country...and most started with small investments, later to be sold to big investors. Link to comment Share on other sites More sharing options...
ericthai Posted July 27, 2015 Share Posted July 27, 2015 All depends on the business you want to do. We started a company in Thailand 7 years ago and doing well. We have customers both in Thailand and outside of Thailand. You need to know what you are doing, understand Thailand and know how the game is played. I'm from the USA so didn't need a Thai partner. If I had to have a Thai partner I would consider that person very carefully. I have several Thai friends that own companies in Thailand and there are only two that I would trust to invest with. I lived and worked in Thailand 5 years before I opened my company. I dont think I would move to Thailand and open a company right away unless it was a restaurant or bar with minimal investment required to start. We opened a factory with a cost of about 15 million baht so I did allot of research before we started the company. Link to comment Share on other sites More sharing options...
ericthai Posted July 27, 2015 Share Posted July 27, 2015 the only way to make a small fortune in Thailand is to start with a big one. That's just nonsense, people who tell you that are people that have no idea what they are doing. If this was true then why would so many foreign companies open factories in Thailand. If you come to Thailand with money, open your first business ever in your life, have no idea how to run that business or never worked in the industry before chance are you are going to lose money. Link to comment Share on other sites More sharing options...
BlackJack Posted July 27, 2015 Share Posted July 27, 2015 All depends on the business you want to do. We started a company in Thailand 7 years ago and doing well. We have customers both in Thailand and outside of Thailand. You need to know what you are doing, understand Thailand and know how the game is played. I'm from the USA so didn't need a Thai partner. If I had to have a Thai partner I would consider that person very carefully. I have several Thai friends that own companies in Thailand and there are only two that I would trust to invest with. I lived and worked in Thailand 5 years before I opened my company. I dont think I would move to Thailand and open a company right away unless it was a restaurant or bar with minimal investment required to start. We opened a factory with a cost of about 15 million baht so I did allot of research before we started the company. I would like the see the playing field leveled - as at the moment is is discriminatory in that as this poster has said the USA under the Amity Agreement doesnt need a Thai partner and can own the company 100%. Now good luck to the USA but is it a fair and equitable system - no. There are many other examples of this when starting up a company. For every success story I can tell you 10 unsuccessful stories and why they failed. Link to comment Share on other sites More sharing options...
Jimlove Posted July 27, 2015 Share Posted July 27, 2015 the only way to make a small fortune in Thailand is to start with a big one. One of my friends...a retired German who was a teacher in Hua Hin....got married and started his food processing factory with 400.000THB 15 years ago. He is retired again....after selling his business for 1 million...US dollar. Now he is investing in vacation properties. Another one, a youger Canadian..started a food processing operation in Chiang Rai with his Thai wife on a 4 rai city plot...few years ago, and it is doing very well exporting to Canada, USA and the UK. Now he opened his products to the Thai market too. A Thai billionaire, the onwner of the Oishi beverage group, started his company with 200.000 THB. The owner of CP Food C, and 7/11 chain, is the richest man in Thailand...followed by the owners of Red Bull, etc. The food business is not only good here in Thailand..... The owner of Starbucks started his business in the US with no money. Restaurants do not make billionaires...but fast food, supermarkets, and processing food do...in any country...and most started with small investments, later to be sold to big investors. Well, with all these friends making millions, what are you waiting for ... ? But please dont compare Thai billionaires like owners of CP and Oishi with foreigners investing in Thailand ... I would not Invest 1 satang in a country so unstable as Thailand - You never know what the Supreme Leader come up with ... Link to comment Share on other sites More sharing options...
Cylon Posted July 27, 2015 Share Posted July 27, 2015 How can it be good for business when you can only own 49% of your OWN company. Link to comment Share on other sites More sharing options...
Robert24 Posted July 27, 2015 Share Posted July 27, 2015 not sure who you talk to that tells you Thailand is not good for business. But I recommend you speak to some business people here who have invested. From my experience entry hurdles to do business here are low, it's relatively easy to do business. Thais are fairly pragmatic when it comes to do business. There are many countries where it is far more difficult to start a business than in Thailand. Link to comment Share on other sites More sharing options...
mitos Posted July 27, 2015 Share Posted July 27, 2015 YES!..Thailand it is no good for business..for farang. Link to comment Share on other sites More sharing options...
MrBrilliant Posted July 27, 2015 Share Posted July 27, 2015 Now he is investing in vacation properties. If these properties are in Thailand he won't own a sq. centimetre of the land they stand on so his 'fortune' is on very shaky ground indeed..... Link to comment Share on other sites More sharing options...
sammygood Posted July 27, 2015 Share Posted July 27, 2015 (farang) exporting food, isn't that one of them thai only businesses ? Link to comment Share on other sites More sharing options...
thailandforumaddict Posted July 27, 2015 Share Posted July 27, 2015 If you do not have a business that needs people who think, yes its good because people are cheap.. Link to comment Share on other sites More sharing options...
rijb Posted July 27, 2015 Share Posted July 27, 2015 By 'Thailand' do you mean the police and the military? Link to comment Share on other sites More sharing options...
spacemand Posted July 27, 2015 Share Posted July 27, 2015 How can it be good for business when you can only own 49% of your OWN company. The owner of the company I work for asked to open a business for him, he was ready to invest about 20 million baht and it would generate a lot of jobs. When I told him he could only own 49% he said, OK not interested, Link to comment Share on other sites More sharing options...
Muzarella Posted July 27, 2015 Author Share Posted July 27, 2015 (edited) the only way to make a small fortune in Thailand is to start with a big one. One of my friends...a retired German who was a teacher in Hua Hin....got married and started his food processing factory with 400.000THB 15 years ago. He is retired again....after selling his business for 1 million...US dollar. Now he is investing in vacation properties. Another one, a youger Canadian..started a food processing operation in Chiang Rai with his Thai wife on a 4 rai city plot...few years ago, and it is doing very well exporting to Canada, USA and the UK. Now he opened his products to the Thai market too. A Thai billionaire, the onwner of the Oishi beverage group, started his company with 200.000 THB. The owner of CP Food C, and 7/11 chain, is the richest man in Thailand...followed by the owners of Red Bull, etc. The food business is not only good here in Thailand..... The owner of Starbucks started his business in the US with no money. Restaurants do not make billionaires...but fast food, supermarkets, and processing food do...in any country...and most started with small investments, later to be sold to big investors. Well, with all these friends making millions, what are you waiting for ... ? But please dont compare Thai billionaires like owners of CP and Oishi with foreigners investing in Thailand ... I would not Invest 1 satang in a country so unstable as Thailand - You never know what the Supreme Leader come up with ... Thank you for remember me....because when looks like I will not wait longer to work again....my Thai wife makes me think better.....just saying...... sabai..sabai. ...my dear. You are 70! Just keep cooking for me! About CP and foreigners....Sorry I do not recall his name now......but the other big billionaire in Thailand is Chinese...and working in export/imports, and most big real estate developers in Thailand are westerners... I retired and move to Thailand 6 years ago because the USA Supreme Leader called Bush and his gang bankrupted the country...... Edited July 27, 2015 by Muzarella Link to comment Share on other sites More sharing options...
Muzarella Posted July 27, 2015 Author Share Posted July 27, 2015 (edited) Now he is investing in vacation properties. If these properties are in Thailand he won't own a sq. centimetre of the land they stand on so his 'fortune' is on very shaky ground indeed..... The best short time investments properties in the world........not only in Thailand......are condominiums, no houses, no land. Also....most of the mix use properties here sells under condominium contracts. Not problem with those in Thailand. One of my wife's clients, a retired from the UK, bought 25 mix use properties in 2 years just in Chiang Mai, already doubled in price, and on long term rental agreements. Most of the clients of the company she is working for are from China and Singapore. The owner of the company, a developer, is from Austria, and is not stopping building condominiums and mix use units, most in North Thailand. Very excited about the Chinesse "invasion". Come......and take a look. Edited July 27, 2015 by Muzarella Link to comment Share on other sites More sharing options...
peergin Posted July 27, 2015 Share Posted July 27, 2015 I was involved in business my whole life. After settling down in Thailand I was thinking of employing a few people and doing some import business because doing business is enjoyable. So, I made a small trial with an inexpensive product that did not exist yet in Thailand. However, when the shipment arrived (by sea freight) customs screwed me in more ways than one and that made the product expensive. That made me change my mind and I simply gave up. It is not worth the hassle and exasperation. I don’t need the money but I did regret the fact that I could not employ the few Thai people. Link to comment Share on other sites More sharing options...
Blitzkrieg Bob Posted July 27, 2015 Share Posted July 27, 2015 the only way to make a small fortune in Thailand is to start with a big one. Wrong! You have to be down to zero a couple of times and take some hard hits, stand up again, have determination, guts and brain! I came to LOS with next to nothing half a lifetime ago and made it to riches, so can anyone who is willing to work hard for it. In addition it all is a matter of timing, gut feeling and good judgement. The ones who went back home to Mami penniless within the first year after arrival were the ones who had loads of cash with them. The ones who came with little or none are here still, same as I. Link to comment Share on other sites More sharing options...
Blitzkrieg Bob Posted July 27, 2015 Share Posted July 27, 2015 I was involved in business my whole life. After settling down in Thailand I was thinking of employing a few people and doing some import business because doing business is enjoyable. So, I made a small trial with an inexpensive product that did not exist yet in Thailand. However, when the shipment arrived (by sea freight) customs screwed me in more ways than one and that made the product expensive. That made me change my mind and I simply gave up. It is not worth the hassle and exasperation. I don’t need the money but I did regret the fact that I could not employ the few Thai people. Customs will screw you in any country if you lack of vitamin C (connections). Link to comment Share on other sites More sharing options...
onthemoon Posted July 28, 2015 Share Posted July 28, 2015 If you do not have a business that needs people who think, yes its good because people are cheap.. That is of course untrue. Link to comment Share on other sites More sharing options...
onthemoon Posted July 28, 2015 Share Posted July 28, 2015 I was involved in business my whole life. After settling down in Thailand I was thinking of employing a few people and doing some import business because doing business is enjoyable. So, I made a small trial with an inexpensive product that did not exist yet in Thailand. However, when the shipment arrived (by sea freight) customs screwed me in more ways than one and that made the product expensive. That made me change my mind and I simply gave up. It is not worth the hassle and exasperation. I dont need the money but I did regret the fact that I could not employ the few Thai people. As was mentioned above, you need to understand the system to make business here. Just coming from overseas and thinking that everythng is the same here must lead to problems. As was said above, work here for a couple of years and learn the system before starting something of your own. Link to comment Share on other sites More sharing options...
blackcab Posted August 2, 2015 Share Posted August 2, 2015 The first thing you need is a Thai national who is trustworthy!! So there in lies the biggest hurdle!! With that said personally I found commercial property rentals very profitable. Especially if you can aquire tenants such as Family Mart, 7Eleven and alike. You're doing better than us. We have a 100 sqm retail shop in a good location. One of the tenants you mentioned is asking us for 280b sqm when we can absolutely lease it for 350 sqm They've got a couple of weeks left before we lease it to other tenants to increase their offer. Link to comment Share on other sites More sharing options...
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