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Nana Go-Go Bar For Sale


Ckrisg

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No, the wagon does not roll in everyday and I will only partake of a couple of beers (no Spirits) with a meal

 

I have gone from"Vodka on the Cornflakes" at 6 AM daily (No Joke) to a couple of beers or a glass of wine with dinner once or twice a week. I don't binge drink and my consumption is less than the recommenced 21 units / week, even my consultant doctor agrees with my methods.

 

Christmas and New Year I went 4 weeks without a drink except when watching football (soccer) at home. where a single 640 ML Bottle lasts me for four hours.

 

There is no such thing as a resolved alcoholic, one just needs to do it in moderation, Jeez the number of times I have wanted to get off my face in the past 18 months are daily but I don't do it anymore, I can even meet friends in Bars and drink manoy soda, Naam Thang Moi or a simple Naam derm whilst they are pouring back the beers or having shots, it took me too many years to realise that the social company in a bar means more than getting wasted.

 

I fully admit it that the first time I went into a bar and did not order alcohol was rather difficult but the more you do it the easier it becomes, especially when the wife says "See That Drunken Asshole over there?" that was you 18 months ago, sort of brings it home to you.

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Stopped in at the Golden this Monday, ordered a hot coffee at noon. The girl looked at me kinda funny. Then brought out my coffee.

Then Goi on of the ladies I've known for 12 years kinda laughed when the girl waas telling her I ordered a coffee. She said yes, some dyas he drinks beer some coke cola some days coffee.

When I quit drinking, I had to stay away from any bars for a year. Then finally I said yuck and walked into one and had a pepsi. Felt good.

 

 

As for buying a bar in LOS or anyway, I just can't see any profit in it.

Too many problems and the profit margin I believe is worse than the bussiness I'm currently in, and it's slim right now in the states

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There used to be a BM who had owned a restaurant in Pattaya. His advice was to stay away from anything involving BGs. Bars meant police, and police had to be paid. It also brought all other problems, with local thugs wanting to be paid to leave you alone. With a restaurant, you would make enough to live decently on and you could later sell out and get back your investment. You would leave with what you came with.

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Uh, I thought the Police WERE the thugs you had to pay to ensure that other thugs left you alone ?? :yikes:

 

My main concern with a restaurant would be the blindingly obvious - there are just so many of them in the tourist areas and the street food is often just as good if not better. There is an excellent (and very authentic- food cooked up front, not in a back kitchen) little Thai restaurant on Soi 22 run by a Chinese-Thai guy : the food is excellent and he has plenty of Thai customers, but his prices are roughly double those of his competition right next door. Clearly, he has had time to build up his loyal customer base, but I have seen Farang take one look at the menu prices, get up and leave. Trying to compete with the Thais on price would be a tough ask, but setting yourself apart from the competition (high end decor aside, but that puts you in a whole other ballgame) is going to be tough.

 

I started a thread here some years back asking if there was any money in restaurants in Farangland, and was told categorically that it was a cutthroat business at the best of times. I take the point re being able to get your investment back when its time to get out, but I'm not convinced that it's a pot of gold otherwise. Happy to hear from someone who has been there and done it. :D

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Gobble - restaurant owners were the majority of my customers when I was in the meat game, and they varied a lot. The well run ones were making money hand over fist, but for every one of those there were 10+ worrying where they were going to scrape up enough money to pay the bills. A lot comes into it - good staff, good landlord who doesn't charge ridiculous rents, obviously location and price etc..

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Gobble - restaurant owners were the majority of my customers when I was in the meat game, and they varied a lot. The well run ones were making money hand over fist, but for every one of those there were 10+ worrying where they were going to scrape up enough money to pay the bills. A lot comes into it - good staff, good landlord who doesn't charge ridiculous rents, obviously location and price etc..

 

The most successful of restaurateurs I found didn't open a place without security of tenure in the very best location but rather achieved security of lease or indeed bought the freehold in a cheaper area and ploughed the income back into the food to generate the volume of trade to produce good profits down the line. No-one ever went broke offering a decent schnitzel.

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There used to be a BM who had owned a restaurant in Pattaya. His advice was to stay away from anything involving BGs. Bars meant police, and police had to be paid. It also brought all other problems, with local thugs wanting to be paid to leave you alone. With a restaurant, you would make enough to live decently on and you could later sell out and get back your investment. You would leave with what you came with.

 

I'd really not agree to be honest, after having a few bars and pieces of the restaurant and accommodation game. If anything, I was too wary of comments about police interference and not adventurous enough when you could have bought pieces of NEP, Cowoy or Walking Street for a pittance compared to their 2013 valuations.

 

I disliked the multiple lease structure in NEP and it would probably never have suited me but more than a couple of Walking Street and Cowboy opportunities slipped through my grasp. These turned out to be $m plus scenarios.

 

The elasticity of barfine pricing went way outside my predictions as did drink prices to a certain extent. I can remember on this board the debates about beer prices heading for Bt90 and then the almost mythical Bt100 a bottle.Today you have apologists explaining away Bt170 as good value when they are surely talking out of their arse. Bt1000 plus barfines would have been laughed at from the Golden Triangle all the way down to Pattaya but here they are and they are certainly not going back down anytime soon.

 

I came to the conclusion some years ago that 4m baht or then around $100k per annum was what you need to be making to justify things. That allowed you a fall back position of 2m a year or a drop of 50% to cover bad years and an annual expenditure of between 1-2m. Without investing millions of dollars or having some super unique concept, the safest way to achieve that was to own the buildings and not be at the mercy of some landlord who could deliberately put you out of business by jacking up your rent or simply failing to extend a lease.

 

Today you need about Bt20m inward in Pattaya to achieve critical mass in a half decent area and half as much again for refurbishment and operating capital. Add that up to around a million dollars and you might as well not bother and just leave the million overseas and live off he interest, safe in the knowledge that no-one can rob it from you or sell your land out from underneath your arse.

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