Buying A Bar &/or Restaurant In Chiang Mai

[chuchok]

Buying a bar &/or restaurant in Thailand

Yes,that old chestnut again!!

A mate of mine in NZ wants to buy a place in Chiang Mai.He wants to bring his French wife and young child (2 years old) to Thailand for a couple of years, before he moves to France.

Now he's not the normal type of person with no experience etc that wants to own a place so he can shag himself silly.He has owned a couple of bars/cafes in New Zealand and while he didn't make millions out of them,he did ok.

He's quite a dab hand in the kitchen and his wife is a cook.

He is a hard working bugger,but is currently working 65 hours a week in a high stress job that is doing his head in.All he wants is a place that can support the family for a couple of years etc.He is not expecting huge profits.

He is willing to invest say 1.2 - 1.5 million baht to a run down type of place, and try and build it up.

Any advice from anybody except the obvious "Don't do it"

[Ajarn]

I'd suggest that he would need about 3 million baht to survive the first year

[meadish_sweetball]

Buying a few "getting to know Thai culture" books might be a good idea. They're simplified and sometimes glorify Thailand a little too much, but at least they will give some hints. Once here the negative viewpoints will be the ones they hear the most, and the most negative people tend to not be interested in trying to see things from the Thais' point of view.

The other obvious things I am sure you can help him with, such as, just because a person tells you something is so, is it necessarily so - double check, and get info straight from the horses mouth instead of relying on rumours. Have patience when dealing with officials and dont stomp your feet and give speeches about "your rights". Make sure you cultivate contacts with the right people, try to act and dress professionally, etc.

Not to sound discouraging, but the competition in Chiang Mai is pretty intense.

[chuchok]

Good points meadish and ajarn.

He has been here a few times and is a very "street smart" type of bloke.He knows a bit about Thai culture etc,but admits he should learn more.

He also makes the very best sea food chowder that I have ever tasted.He has rejected an offer of USD1000 for the recipe!!...also,his blueberry muffins are to die for!

He has a heap of cash, but only want's to invest what he can afford to loose.

Edited December 25, 2006 by chuchok

[Wizzard of Oz]

Any advice from anybody except the obvious "Don't do it"

Don't do it

Couldn't resist

[Ulysses G.]

Any advice from anybody except the obvious "Don't do it"

In my opinion, anyone with REAL COOKING SKILLS and experience in running successful restaurants back home should do fine here with a GOOD LOCATION.

Look at The Duke's. He came here and rented a place in a terrible location, but he is totally kicking butt after one year. There just isn't much competion here when it comes to REAL RESTAURANTS and REAL COOKS.

You said that he is a hard worker. If he feels that his food is good enough to sell in a major city back home, I would tell him to go for it.

[chuchok]

Another good point georgie.Yep,he is not a trained cook,but his wife is.His wife even admits, that he is a better cook then she is???

[Ulysses G.]

Another good point georgie.Yep,he is not a trained cook,but his wife is.His wife even admits, that he is a better cook then she is???

Sounds like a success story, however, getting good staff is also very important.

Maybe he could poach some from The Chiang Mai Saloon?

Edited December 25, 2006 by Ulysses G.

[john b good]

Buying a bar &/or restaurant in Thailand

Yes,that old chestnut again!!

A mate of mine in NZ wants to buy a place in Chiang Mai.He wants to bring his French wife and young child (2 years old) to Thailand for a couple of years, before he moves to France.

Now he's not the normal type of person with no experience etc that wants to own a place so he can shag himself silly.He has owned a couple of bars/cafes in New Zealand and while he didn't make millions out of them,he did ok.

He's quite a dab hand in the kitchen and his wife is a cook.

He is a hard working bugger,but is currently working 65 hours a week in a high stress job that is doing his head in.All he wants is a place that can support the family for a couple of years etc.He is not expecting huge profits.

He is willing to invest say 1.2 - 1.5 million baht to a run down type of place, and try and build it up.

Any advice from anybody except the obvious "Don't do it"

[chuchok]

Another good point georgie.Yep,he is not a trained cook,but his wife is.His wife even admits, that he is a better cook then she is???

Sounds like a success story, however, getting good staff is also very important.

Maybe he could poach some from The Chiang Mai Saloon?

Has that been done before.....

[Blinky Bill]

Another good point georgie.Yep,he is not a trained cook,but his wife is.His wife even admits, that he is a better cook then she is???

Sounds like a success story, however, getting good staff is also very important.

Maybe he could poach some from The Chiang Mai Saloon?

Has that been done before.....

There's some good staff at O'Malley's who may be looking for a new job........

[jezchesters]

Just a quick thought (and Sunbelt will be able to advise you on this far better than I)...

If they are a farang couple, they won't techinically be allowed to work, as the work involved (I'm fairly sure) will be on the list of restricted professions - don't quote me on that but I think I'm right...

[Ulysses G.]

Just a quick thought (and Sunbelt will be able to advise you on this far better than I)...

If they are a farang couple, they won't techinically be allowed to work, as the work involved (I'm fairly sure) will be on the list of restricted professions - don't quote me on that but I think I'm right...

There seems to be a LOT of ways around that.

[kash]

Look at The Duke's. He came here and rented a place in a terrible location, but he is totally kicking butt after one year.

Kicking butt? One year? What on earth are you talking about?

[Ulysses G.]

Doing really well after being open for a year or so.

Does that compute?

[adjan jb]

He wants to bring his French wife

he's not the normal type of person

That says it all.

[kash]

Doing really well after being open for a year or so.

uhm, far more than a year...well well. rambo seems to enjoy the place to so I guess it ain't bad

[Donnyboy]

Just a quick thought (and Sunbelt will be able to advise you on this far better than I)...

If they are a farang couple, they won't techinically be allowed to work, as the work involved (I'm fairly sure) will be on the list of restricted professions - don't quote me on that but I think I'm right...

There seems to be a LOT of ways around that.

the most obvious would not be advisable

[Ta22]

- Be frank with yourself ..

how long you wanna spend your time in thailand .

how much effort you wanna put in .

how far you wanna go ..

if you just trying to secure your fund

and hopping to break even and then sell off the bat in a few years and get return ,..

blah blah blah ..

sometime the best way to earn is not to do anything .

... plus some bank give good rate . look into it . doing notthing and get intrested for some fund is better then risking it at another country

[Phil_ne_uk]

sometime the best way to earn is not to do anything .

... plus some bank give good rate . look into it . doing notthing and get intrested for some fund is better then risking it at another country

Ta22, I assume you mean a bank outside of Thailand? As I believe the interest rates here are very low.

What do you mean, get interest from some fund?

What you say makes sense as I’ve researched different business’s here and can’t find anything worth investing in!

I’ve searched the forum for ideas but I suppose anyone making any REAL money here by western standards isn’t doing to give their secret away regarding what they do to make their money.

Having said that us farangs are so limited in what we are allowed to do here. It’s all very well buying a business here that usually has far too many staff, but it still doesn’t give you anything to do.

Lazing around all day sounds great but gets boring after a couple of months.

I spoke to a British guy in his 30’s who rented a 7 room guesthouse in Hua Hin with his dad. He admitted that they didn’t make enough to have holidays back to the UK.

What I would like to know is what the heck do farangs do here that makes REAL money??

[Ajarn]

sometime the best way to earn is not to do anything .

... plus some bank give good rate . look into it . doing notthing and get intrested for some fund is better then risking it at another country

Ta22, I assume you mean a bank outside of Thailand? As I believe the interest rates here are very low.

What do you mean, get interest from some fund?

What you say makes sense as I’ve researched different business’s here and can’t find anything worth investing in!

I’ve searched the forum for ideas but I suppose anyone making any REAL money here by western standards isn’t doing to give their secret away regarding what they do to make their money.

Having said that us farangs are so limited in what we are allowed to do here. It’s all very well buying a business here that usually has far too many staff, but it still doesn’t give you anything to do.

Lazing around all day sounds great but gets boring after a couple of months.

I spoke to a British guy in his 30’s who rented a 7 room guesthouse in Hua Hin with his dad. He admitted that they didn’t make enough to have holidays back to the UK.

What I would like to know is what the heck do farangs do here that makes REAL money??

I got my money in a Thai bank that pays 5.5 percent

[Phil_ne_uk]

I got my money in a Thai bank that pays 5.5 percent

Ajarn, is that 5.5 % net? May I ask which bank and is your money safe enough here?

cheers

Phil

[Ajarn]

I got my money in a Thai bank that pays 5.5 percent

Ajarn, is that 5.5 % net? May I ask which bank and is your money safe enough here?

cheers

Phil

Yep, net. At government housing bank. Yes, I feel it is safe, after having my account a few years now...

[Ta22]

well .. everyone selling a bussiness would tell you how good is it .. and everyone buying is looking into profit ..

every biz itself MAKE MONEY >

what you need to focus is

HOW MUCH it make .

is it ENOUGH >..

alot of time .. when it come tomaking money . people just focus on number ..

caculator only caculate number not RISK .

Well which bank wise .. i should not choose for you .

do yuor Math .. the world is really small . find atrusted bank bank and you get good %

my sister studyign in scottland get 6.7 % on her normal account .

not that i like BANK or have faith in the system ..

MOST BANK ARE SUCKER ..

but to compare RISK aginst my odd in biz in a country which you are new and with recently changing Rule ..

CASH on hand is betetr then a RUn down bar ..

have you consider the

VISA and workpermit and taxes you needs ..

the worker cost . the set up . the problem and other money sucking factor .

serious .. my logic in bussiness is i do what i enjoy making less is ok ..

some biz give you money but give you alot of problem also sloving it is not worth the amount you earn .

anyway pardon i got carry away . if you serious . meet me up maybe we can talk some where my spelling is relaly not that great and i am lazy typing . buy me a few beer and a meal - i give you my 2 cent whahahhaa

pm me

[SamSipEt]

buy me a few beer and a meal - i give you my 2 cent whahahhaa

pm me

Count me in - I can talk about anything for free beer whahahhaa

[john b good]

Any advice from anybody except the obvious "Don't do it"

In my opinion, anyone with REAL COOKING SKILLS and experience in running successful restaurants back home should do fine here with a GOOD LOCATION.

Look at The Duke's. He came here and rented a place in a terrible location, but he is totally kicking butt after one year. There just isn't much competion here when it comes to REAL RESTAURANTS and REAL COOKS.

You said that he is a hard worker. If he feels that his food is good enough to sell in a major city back home, I would tell him to go for it.

"Look at The Duke's. He came here and rented a place in a terrible location, but he is totally kicking butt after one year."

Duke, has been in Chiangmai for many years (and operating restaurants during that time) or were you meaning that the Dukes Restaurant has only been operating for about that time

[Ulysses G.]

Any advice from anybody except the obvious "Don't do it"

In my opinion, anyone with REAL COOKING SKILLS and experience in running successful restaurants back home should do fine here with a GOOD LOCATION.

Look at The Duke's. He came here and rented a place in a terrible location, but he is totally kicking butt after one year. There just isn't much competion here when it comes to REAL RESTAURANTS and REAL COOKS.

You said that he is a hard worker. If he feels that his food is good enough to sell in a major city back home, I would tell him to go for it.

"Look at The Duke's. He came here and rented a place in a terrible location, but he is totally kicking butt after one year."

Duke, has been in Chiangmai for many years (and operating restaurants during that time) or were you meaning that the Dukes Restaurant has only been operating for about that time

David "the Duke" opened a restaurant in Chiang Mai in 1991 called The America Restaurant and I'm pretty sure that I was his first customer. He stuck around for a year or two and then sold his restaurant to Tony Moon and returned to San Diego where he ran a series of restaurants over the years.

He returned here about a year and 1/2 ago and opened The Dukes which he has been running ever since.

The word on the street is that he will open another place soon and I am looking forward to it!

[sinkorswim]

David "the Duke" opened a restaurant in Chiang Mai in 1991 called The America Restaurant and I'm pretty sure that I was his first customer. He stuck around for a year or two and then sold his restaurant to Tony Moon and returned to San Diego where he ran a series of restaurants over the years.

He returned here about a year and 1/2 ago and opened The Dukes which he has been running ever since.

The word on the street is that he will open another place soon and I am looking forward to it!

He is opening a place at the night bizzare near to mcdonalds if my sources are correct.....I love the food at dukes.

To the OP. You say your friend wants to come here for 2 years before he moves to France......why does he not just come here and relax for the 2 years and live of the 1.5 million baht maybe even add a little more as you say he has plenty of cash?

Edited December 27, 2006 by sinkorswim

[chuchok]

Because he's got ants in his pants. Not the type to do nothing.He also believes that hopefully,he can live off the place (after 6 months or so) and maybe sell on for a small profit etc.

[Ulysses G.]

Because he's got ants in his pants. Not the type to do nothing.He also believes that hopefully,he can live off the place (after 6 months or so) and maybe sell on for a small profit etc.

Hey, Hamburger Mike does it over and over again - for a HUGE profit!