Taking over an existing business?

[TravelerEastWest]

9 hours ago, georgemandm said:

I am talking about small businesses ok not big ones lots of men come here and think can make lots of money in a bar or a small restaurant ok .

i have seen how the small ones go to S??? .

 

I have seen a few small businesses fail run by those who have little or no business experience; and they would more likely than not fail at home also.

 

But many do well - and normally they are run by those have done well in the past.

 

Even with bars and restaurants those who  know exactly what they are doing before day one do well - as a sidenote why do you think there are so many expats running luxury hotels and resorts in Thailand?

 

[MissAndry]

1 minute ago, TravelerEastWest said:

why do you think there are so many expats running luxury hotels and resorts in Thailand?

 

 

Because the world is full of optimists with money to burn.

[georgemandm]

1 hour ago, TravelerEastWest said:

 

I have seen a few small businesses fail run by those who have little or no business experience; and they would more likely than not fail at home also.

 

But many do well - and normally they are run by those have done well in the past.

 

Even with bars and restaurants those who  know exactly what they are doing before day one do well - as a sidenote why do you think there are so many expats running luxury hotels and resorts in Thailand?

 

How many go broke lots , I have seen it more And more  that make no money.

up to you and happy for you but for me I would not want a business in thailand.

i see time after time western man come here to make money in a small business,

just last night was in surin out for a drink and seen a new bar open in a Soi were had 4 all ready and one more makes 5 , so how the hell is he going to make money no hop and the other 4 just  get by .

one has been trying to sell his for 4 years.

[Colabamumbai]

It is not easy being a foreigner in Thailand making money from your own business. More fail than succeed.

[TravelerEastWest]

On 9/4/2016 at 11:25 AM, MissAndry said:

 

Because the world is full of optimists with money to burn.

 

I assume that you are being funny.

 

Expat department heads and hotel general managers are hired becasue they are good at what thay do and it is worth it to pay them a large salary and benefits package.

[TravelerEastWest]

On 9/4/2016 at 0:52 PM, georgemandm said:

How many go broke lots , I have seen it more And more  that make no money.

up to you and happy for you but for me I would not want a business in thailand.

i see time after time western man come here to make money in a small business,

just last night was in surin out for a drink and seen a new bar open in a Soi were had 4 all ready and one more makes 5 , so how the hell is he going to make money no hop and the other 4 just  get by .

one has been trying to sell his for 4 years.

 

And how many make a good income? - lots based on those who I talk to.

 

I can tell you that the cost of labor is a key part of business and labor is lower here than in the Western world. Our business makes good use of lower labor costs and we still pay far above the market rate.

 

Business is about being serious and paying very close attention to the numbers and managing people and so on. If you look at your example I would take a guess that the bar in question was started by someone who doesn't know much about what he is doing? Would that person make a profit back "home" probably not.

 

Sounds like you are describing a hobby not a real business which is OK.

 

 

[georgemandm]

2 hours ago, TravelerEastWest said:

 

And how many make a good income? - lots based on those who I talk to.

 

I can tell you that the cost of labor is a key part of business and labor is lower here than in the Western world. Our business makes good use of lower labor costs and we still pay far above the market rate.

 

Business is about being serious and paying very close attention to the numbers and managing people and so on. If you look at your example I would take a guess that the bar in question was started by someone who doesn't know much about what he is doing? Would that person make a profit back "home" probably not.

 

Sounds like you are describing a hobby not a real business which is OK.

 

 

Ok I agree to disagree, you tell me one thing , would  the people you talk to tell you they are not making money in their business no .

i agree the cost of labor is cheap in thailand that's if you can get ones who want to work and if you pay more good.

but more business here make f??? All .

the small ones .

not talking about big companies.

no business is a hobby in thailand it is about western men coming here not all but lots getting suck in by the thai hair Losso and trying to run a business that most do  not work out .

[TravelerEastWest]

On 9/11/2016 at 8:40 PM, georgemandm said:

Ok I agree to disagree, you tell me one thing , would  the people you talk to tell you they are not making money in their business no .

i agree the cost of labor is cheap in thailand that's if you can get ones who want to work and if you pay more good.

but more business here make f??? All .

the small ones .

not talking about big companies.

no business is a hobby in thailand it is about western men coming here not all but lots getting suck in by the thai hair Losso and trying to run a business that most do  not work out .

 

The people I talk to are not retired they often have families and they make money or they don't survive.

 

I don't talk to people who go to bars and I have already agreed that many of the bar owners are not making money and are engaged in a hobby. No disagreement there.

 

As for people not telling the truth about their business - no need to worry, they are mostly honest the people I know, and anyway you can usually see very quickly if a business is making a profit if you understand finance and accounting. Just look around at how many customers vs employees etc.

 

As for men coming here for women etc again those people often have a "hobby" business - if you don't know what you are doing then it is not a real business. Of course many don't know that they don't know what they are doing....

 

In summary the key point is those who have business skills do well quite often - those who are not skilled and experienced are quite likely to lose many - but not just in Thailand - anywhere in the world.