Paillote Posted February 24, 2004 Author Report Share Posted February 24, 2004 SingaporeSteve said:Im not springing to Sunbelts defence and I am sure they are capable of doing that themselves. However, from what I have seen in Thailand business seem to sell at two kinds of prices, either rock bottom or sky high. Rock bottom when the owner needs/wants to get out quick for some reason (which seemingly is often health or moving abroad related). Sky high when they are really just testing the water and if someone buys at their price, they will sell otherwise they keep going. That is my limited experience as well... the sky high part that is. Dealing with Thais can at times be truly frustrating as greed and/or unrealistic expectations are abundant. I would think that cooking the books are usually done to minimize earnings and avoid tax, so I wonder what documentation is used to to verify inflated earnings claims... Paillote Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 personally, i believe if one has to go through some brokerage to buy a business here, one is not really ready to do business in this environment so different from the west. but i guess it is not the job of a brokerage to see if a prospective buyer has the abilities to successfully do business here. buying a business in asia is easy. doing business is the difficult part. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 and thinking about entertainement business such as discos (the example brought up here)...that's a bit of a hornet's nest. there were lots of western (and asian) heavyweights of that industry trying there luck - most of 'em packed it after a while. that's not easy in the west, and here it's much worse. does the seller tell you of all the influences to feed? does he tell you which are the ones who need to be fed, and which are the ones who just give it a try to get some easy money from the clueless? who will be the problem solvers? who of course will also need to be fed...and you do need problem solvers who can really solve and not pack it when someone more powerful plays muscle. a disco in the zone? that must be RCA. in ratchada westerners should better not try to fuck around. there you are up against the triads and top level thai mafia (unless you still believe that chuvit is as nice as he presents himself in TV, and doesn't have some bosses you do not talk about... ). in patpong there ain't that many discos available, and i guess that the selling price for the non-insider westerner will be way too high compared to the possible profits. RCA has a great history of businesses going bust. some hobby of some moviestar or singer, he pulled customers by his name. he sold - the customers went away. and it was sold again, and again, and again. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 Many very valid points FlyW Even those who have the basics figured out here, know better than to get involved in ant high profile Entertainment venture without out having very solid connections and lots of moxie. Then they would simply be invited in, never buy. But any one wishing to do so can simple sent me the $$$, I'll promise than they will have more fun for a longer time than they will ever have tossing there $$$ out that airplane window. This in no way infers that one can not buy a decent business here ............ and if one were inclined to do so, then I can not think of anyone I would recommend more than Greg and Sunbeltasia. As you say, buying a business is easy, making it work is the tricky part. Link to comment Share on other sites More sharing options...
rchapstick Posted February 24, 2004 Report Share Posted February 24, 2004 iono said: suadum said: Those statements from the "horse's mouth" give you your answer. Sunbelt is *nothing* more than a advertiser. Sunbelt spits back only what the seller's give them and leaves due dilligance up to you (i.e., thay make the introduction ONLY -- everything else is up to you). Form your own conclusions about the ethics/validity of this business practice and what that service is worth. Not for me to say... That's interesting as I periodically check out the site for a possible purchase in a couple of years, a nice small biz with an apartment/shop house. Now knowing they don't do the due diligence, but only advertise puts a different light on some of the businesses offered for sale. :: Nobody in the business of brokering deals performs due diligence, including the big-name investment banking firms. I vividly recall working on a deal between two large, publicly traded multinations for a business unit, brokered by a blue chip i-bank, where the financials presented where pure crap and did not stand up to even modest scrutiny. The i-banker was horribly embarrassed, but no one blamed him for the deception. Frankly, anyone who would not do his own due diligence on a small deal, and/or use the services of someone they implicitly trust to dig into the financials, is asking for trouble. That being said, this broker does seem, to me, to go a bit overboard with the hype and platitudes of businesses for sale. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 What I cannot understand is why, WHY would anyone want to open a business in Thailand, one where you would have to depend on others (assumed Thai) to help you make your profits? By all means, open up your little shack and YOU sell your trinkets (don't foreget tea money, no one is immune). But a disco in a major entertainment area where you have 200 employees is a big bite in the big mango. I think Fly has got it right, don't even fucking think about it... A fool and his money soon part. Become a millionaire in Thailand? Come over as a billionaire... etc. and so on... With that being said I have the UTMOST respect for those farang who are making money hand over fist in Thailand, you are truly a mover and shaker. Oneye Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 I see a great similarity to Nigerian email scams--"just trust us and give us a outrageously large amount of money to buy the place and then you will be swimming in even more outrageous profits". I simply don't buy this. If the deal was that good, surely this awesome wealth generator would be passed to a friend or family. It would not require a broker to find a stranger who has to sign that "<broker x> does not audit or verify any information given". If a broker wants to build credibility, they should publish the results of a questionaire for each deal outlining whether the buyer believed the deal lived up to its claim or not. I suspect publishing this would be extremely counter productive to their business. But it's quite ok for them to continue publishing lists of these nigerian type offers. If I'm wrong, then all of you who have found the awesome wealth promised in these deals please speak up. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 >>>With that being said I have the UTMOST respect for those farang who are making money hand over fist in Thailand, you are truly a mover and shaker<<< the ideal situation is getting money coming in from the west while living here. saves a lot of headaches. Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2004 Report Share Posted February 24, 2004 flyonzewall said:>>>With that being said I have the UTMOST respect for those farang who are making money hand over fist in Thailand, you are truly a mover and shaker<<< the ideal situation is getting money coming in from the west while living here. saves a lot of headaches. But FlyW old friend, don't the p4p girls have a trade union lock on that kind of remittance? Link to comment Share on other sites More sharing options...
iono Posted February 24, 2004 Report Share Posted February 24, 2004 rchapstick said: Nobody in the business of brokering deals performs due diligence, including the big-name investment banking firms. Okay, Okay, I got it people, they don't do the due diligence, I was under the impression that the businesses offered on the site had been researched. Just reading the basic info offered for each business I assumed once you contacted this company that they would have all the info for the buyer to go forward with their own due diligence, maybe it's a little misleading (just surfing the site and dreaming). On that note, I'm looking for a business with an apartment above, low initial startup and a low monthly lease. Why buy a condo or lease a condo when I could possibly have a business that would pay my lease. No profit who cares as long as it pays for living quarters (if not my retirements got it covered) :hubba: or I could retire chase women, drink my ass off and die. Two more years Link to comment Share on other sites More sharing options...
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