How to make money in Thailand with a small capital?

[Henricus]

The only way to make a small capital in Thailand is to go to Thailand with a big capital

[Srikcir]

Rather than having your own company you should consider employment with a major international accounting firms in Thailand: Pricewaterhouse, KPMG, Deloitte, etc. or oil & gas companies such as Chevron. They have online applications that allow you to upload documents as well.

[OmegaRacer]

10.000 Baht or $ ??

I have only 1 advice, it's a sound advice and it worked for me.

Whatever you decide to do, choose something you're passionate about, something you already know inside out, like a hobby for example. This passion will filter through everything you do and people will notice it and trust you. One step at a time, and things will fall into place. Don't be afraid to fail, because it's not really failure but more like an adjustment of trajectory until you find the direction that is right for you.

Also, a book I'd like to recommend "Happy pocket full of money", which changed my attitude towards money and wealth in general. Very helpful.

Good luck

[georgemandm]

OP, You are asking in the wrong place. The expat community in Thailand is hardly filled with successful people who could give advice from good experience.

An expat with a successful business in Thailand is a rare commodity and even then I don't know if they'd give up their "secret". The Thai rules for owning and operating a business in Thailand cause it to not be worth it, IMHO.

Many expats are in Thailand because they had difficulty making it in their home countries. Not all mind you, but many. Some occupy bar stools while they give out their "advice".

I live a very nice lifestyle in my own home in the US because I can afford it, and then I visit Thailand when I'm in the mood.

Many of the guys in Thailand who have a good income work for multinational companies on a good salary. Either that or they came with money and simply chose to live in Thailand. Good for them.

It seems that a lot of guys who show up with no money wind up teaching English which is an honorable way to survive IMHO.

I wish you luck. Whatever you do won't be easy.

Cheers.

The bests advice I have read on TV in the 2 years I have been on here great to read something on here that is so so right not see it a lot good on you .

[Suradit69]

What capital do you have? That you are okay with losing.

What is your background in terms of education and experience?

What capital do you have? That you are okay with losing. under 10K

What is your background in terms of education and experience? BD in economics. 20 yrs accounting experience

Just to clarify, you're saying you have less than Baht 10,000 with which you want to "make money?"

With 20 years accounting experience, how many times have you run across a successful business venture that took off with seed money of Baht 10,000 ... or US$10,000 for that matter? Is your accounting experience in Thailand?

Not trying to be snarky, but unless that's a typo, you're not being realistic.

On what basis are you legally residing in Thailand?

Edited December 22, 2015 by Suradit69

[williamgeorgeallen]

many of us have been here for many years. many people have seen almost everyone fail at making a living in Thailand. the odds are so stacked against foreigners it is near impossible. I invested only what I could afford to loose and it was years before I got a return on investment. I only know a couple other guys that have been as successful as me. I don't blame anyone from being negative on this topic, they are giving you good advice.

[samsensam]

what amount of capital are you talking about and what return are you looking for?

depending on the amount you could invest in your home country and live off the interest?

where are you living?

from what you say assume you are a qualified and experienced english teacher. would be interested to know why private lessons dont work?

private english teaching is potentially very profitable here: low costs; teaching materials (you only buy once), travel (cheap), advertising - you can do yourself targeting potential markets e.g. universities, professional adults and their children

it can start slowly but once you get going, assuming you are a half decent teacher, word of mouth will get you work. almost all your earnings a profit. you work as much as you want.

during the school holidays the work piles up and money runs in

it's a simple and potentially very profitable business model.

[puukao]

It's simple....trade currencies.

we all knew the baht was getting weaker against the USD.......big time leverage, make millions of baht....

do that a few times.....or a few hundred times....

then buy real estate in NYC and rent to jokers for big money....

use that money to live like a GOD!!!!

or find some stocks going from 10 dollars to 1000.......do that a few times.....

simple!!!!

just remember to buy before they go up....buy low.....and sell high.....sell near the top!!!!

[seancbk]

What capital do you have? That you are okay with losing.

What is your background in terms of education and experience?

What capital do you have? That you are okay with losing. under 10K

What is your background in terms of education and experience? BD in economics. 20 yrs accounting experience

I sure hope that the under 10K capital you have is not the figure in Baht.

Where are you based?

Age?

[Mousehound]

The amount of monies is not that important - cash flow/stock turn and margin is. Find something that you can buy at a good value price that has a demand. Sell it at a profit. Re-invest the monies again ad infinitum. You will become rich. When you find the item that does this please let me know.

Seriously - this is the art of buying and selling. It is quite simple to do but requires skill to do it well.

[Stradavarius37]

What capital do you have? That you are okay with losing.

What is your background in terms of education and experience?

What capital do you have? That you are okay with losing. under 10K

What is your background in terms of education and experience? BD in economics. 20 yrs accounting experience

You need a job, not an investment, lazy man

[SOTIRIOS]

....sick pathetic sh*t slung at each other....must be the time of year....time of the month (?)

.....'tis the season....yeah right....

......10k USD or Euros.....not very much...you cannot register a company.....

...go out and meet people first....by networking you might meet the right situation......

...it is NOT easy for 'us' here.....we are by and large here to 'pay.......and go away'.....NOT to live or thrive.....

...with your background I would approach foreign companies....you could be a 'link' and an asset in their accounting departments....

...you would be better off even working part time...but there is the issue of work permit of course...

...you could latch on to a non-profit organization.....still needing a special permit....

...watch out for all the bs out there....mlm's etc...

...practically no laws to protect you here in this land...

...one member did point out...first and foremost put aside whatever money you will need to survive for whatever projected time....

...if you do get some friendly replies...maybe share them...maybe some of us could invest....

...the problem again is...2-3 million baht...1 foreign work permit....then there is the issue of 'ownership'.....voting....etc...not easy.....

....you have a degree...get a job making 40-80k teaching in a school...if you do not have a heavy accent....

...I think I did see 1 or 2 spelling or grammatical errors in your posts too.....

...again.....not easy....good luck....

[4jasmin]

there are Millions of Thai People, doing this every Day, what you want to achieve:

earning some Money with a very low investment Capital

most of them are selling Food on Markets or vital Spots ( Schools, Busstations or similar )

it will be your turn, to find/select a Product, about what you are convinced worth to produce in Home prepare for sell

with your English Skills, you are able to research in the whole World, to make your Product unique, outstanding

but in all, you will need a Thai Partner, who does finally the Job ( selling )

[Cypress Hill]

The only way to make a small capital in Thailand is to go to Thailand with a big capital

How to make a million dollar in Thailand?... Start with 2 millions....

Do you two still think these idiotic aphorisms are still funny/clever?

They're about as original as "If it's too good to be true . . ." and "don't do the crime if you . . . "

[Farangdanny]

Dependent on the size of your capital.... Commercial rentals.

What, in your mind, constituent s 'commercial' ?

[DavidBonnie]

Personally I think that if one was not a teacher in one's native country one should shy away from inflincting oneself on the Thai education system.

Developing a network of students whom one can teach as a freelancer is likely to be an impossible task given the lack of professional experience.

Many other businesses idead are more likely to prove successful. I feel, however, that it is unlikely anyone will share the 'secrets of their success' with a stranger. I will say this, with limited risk and maximum effort one can develop a web based business anywhere in the free world. It takes time.

[ttthailand]

With small investment, If you have a good wife who you can trust, who will follow directions, is smart, and is not lazy then you have a good chance of making just about anything you try work to some degree. If any of the items I listed is missing your chances are not so good. The old saying" behind every successful man is a successful woman" has never been more true than in Thailand.

If you have some big money than don't even involve your wife and you might do fine.

[uptoyoumyfriend]

if you are in an area with lots of falang,try to get your brains around servicing.like advertise and organise housecleaning.get some thais that will work for you and the wife or girlfriend,organise and exploit them.very hard to get reliable service here . also small repairs ,gardening ,maidwork....babysitting etc.

[Phuketboy]

There is a lot of negative feedback on this topic and with good reason. The main reason is that it is very difficult for a foreigner to make good money here in Thailand. However, when we talk about making good money, everyone has their own definition as to what this is. For some it will be the ability to sustain a lifestyle here, while for others it will be much more.

I have a couple of businesses here which I consider to make good money for Thailand (300,000-400,000 baht profit/month). However, I've had 2 failed businesses here which have cost me a lot of money. This being said, it can happen anywhere in the world and given your 20 years accounting experience, you would surely have seen many failed businesses through clients back home. It's a learning experience and as others have said in the above posts you need to be willing to take risks.

You mention you have 10,000 in capital, I can only assume you mean $10,000. I wouldn't say it's impossible, but it would be very difficult to start a successful business with a capital of this amount. A few things to consider is what business you want to open, what is your target audience/client what city town are you going to set the business up, location and rental agreements (keep away from key money if you can) etc. The other thing you mention is partnerships or buying into something. If you buy into a going concern, you need to ask why is the person selling shares in the business or wanting a partner? If the business is successful, why do they want to share that with you? There are many things to consider and look into and I'm only pointing out some of the obvious things, however you should already know this.

Do you have a business back home or some sort of backup/exit plan if all fails? Although I live in Thailand all year round, I have a successful construction company back home, so I don't need to rely on income made from business here. Other people in this forum would agree, you definitely need some sort of backup because the chance of failure is high.

What is your network like in Thailand? You will definitely need to know a lot of people to make a business successful here. Connections and friends both Thai and foreigner who will bring people to your business, recommend you and your service and help market your business.

Without prying, why you want to open a business here? Have you family here or a reason for wanting to be here, or have you come for a holiday a few times and decided you would like to live here? My advice would be to start by doing some research, looking into all the pros and cons, work out an exit plan if all fails and then if it's still something you want to do, find a good lawyer and accountant and go from there.

Edited December 22, 2015 by Phuketboy

[aronp1]

if you cannot make private English lessons successful...I would question committing capital to anything else. Not being a jerk, don't misunderstand me...but English is a wide open market if you are a native speaker. If not successful, your marketing approach will likely be flawed in other endeavors too.

It may be an open market but the market is not as big as people might think. Not everyone wants or needs to learn English or can afford it either.

[aronp1]

You mention you have 10,000 in capital, I can only assume you mean $10,000. I wouldn't say it's impossible.

Really? That's just over 369,000฿.

There are plenty of established buisnesses you can purchase for that amount and less.

[fekman]

I spent a year, day in, day out, looking to buy or start a business here. I know the risks are high here, but I have nothing but free time, so I didn't mind putting forth the effort to find out for myself. I have given up on the idea for more reasons than I care to type. From unscrupulous landlords to the FDA not allowing me to import a product that nearly every country in the world allows.

.

I'm not a furnace of ambition anymore, and I prefer to buy a business rather than start one. I don't have the passion to develop my own brand. Profitable businesses in SEA are in high demand, and hard to come by. In the U.S. for example, there are so many profitable businesses on the market. Its hard to sell a biz there for 75k that is earning 50k a year in profit as the mindset is "why would I pay 75k for a 'job' that pays only 50k? I can get a 50k a year job for free". But put a legitimate biz like that on the market here, and it would be snapped up quickly.

.

I've yet to meet a foreigner here who has made it work. I know they are out there, all four of them, but they certainly won't be sharing their secret with us.

[BuriramDevelopers]

what is our field of expertise.?

If none , what kind of work did you do before? Or maybe , what schooling did you have?

Several ways if you want o be your own boss. All not without risk i have to say.

Making a monthly wage is a lot harder than making small investments , that will make you a nice profit over the long term.

[djayz]

I'm sorry to have to say this, but you're not going to receive good, reliable financial advice on an open forum - least of all this one (nothing against TV, just some of the financial "experts" here).

I'm the last person to give financial advice, but I will give you the following, friendly advice: if you really need to make more money, then look at the possibility of taking up full-time employment at one of your local schools. I know it's not ideal, but at least you'll have a fixed monthly income, some of which you should put aside for some time in the future when you do have an investment idea/oopurtunity.

Secondly, if the students/their parents like your style of teaching, they might ask you to tutor them privately or recommend you to friends and family (that might help with the networking).

Keep trying and never give up.

"From small acorns grow great oak trees"

Good luck.

Edited December 22, 2015 by djayz

[2road]

To clarify:

yes its 10k usd. Its the amount that i can afford to lose to

Chase my dream of making independent income

and live in thailand.

I agree that the few succesful entepreneurs aren t going

to share here to a stranger their secrets; but i have to

start somwhere;

I am located in Pattaya and i dont

know many people here. I dont have a work

permit. I have been here only a few times

and i am still learning the system. Any little suggestion

is like gold for me.

I tried and failed in stock trading, build websites;

The few $ i made is selling thai coins on ebay.

I have a small income from a rented home in italy but that

s not enough.

I like the idea of buy low something here and resell in

another market/

europe. I guess i need a deep market analysis before

i find the right product.

[MaeJoMTB]

I've yet to meet a foreigner here who has made it work. I know they are out there, all four of them, but they certainly won't be sharing their secret with us.

I can share their secret,

Become a front for money laundering.

I think that accounts for 3 of the 4 successful business you know.

[elliottm]

Work permit ESPECIALLY for English teaching - in fact anything to do with a business or work, even unpaid/voluntary,check your visa requirements.

[arunsakda]

Why not become a prostitute?

Sent from my iPhone using Tapatalk

[tonray]

Why not become a prostitute?

Sent from my iPhone using Tapatalk

He already said he tried English teaching in Thailand

[Phuketboy]

You mention you have 10,000 in capital, I can only assume you mean $10,000. I wouldn't say it's impossible.

Really? That's just over 369,000฿.

There are plenty of established buisnesses you can purchase for that amount and less.

read what I said again.