simon43 Posted August 8, 2005 Report Share Posted August 8, 2005 The situation is this. I've lived in BKK for 3 years, but do not actually 'work'. (I have an internet business which makes enough money for me...) About 9 months ago I bought Night Night Joop Joop bar in Sukhumvit 1 Plaza for my Thai wife to manage etc. This went so well that we then bought a second bar in the same building and opened a salsa bar. A couple of months ago we split our 1st bar into 2 separate bars by constructing a dividing wall (which can easily be removed). I then installed a 70 inch TV projector screen in one of these bars and hooked it up to the Super Sports channels from South Africa. All very good...But about 6 weeks ago I was talking to my wife and it transpired that both of us wanted to live on a beach!! (We thought the other person really liked BKK...) To cut a long story short, we intend to build a small holiday resort for disabled tourists in Samui. We do not need to sell the bars for the money, but rather that it will be impossible for my wife to manage 3 bars in BKK whilst she is in Samui. So we have decided to sell the large bar and hang onto the Salsa bar, which can be managed by her sister. The bars for sale (Night Night Joop Joop and Big Screen Sports Bar) have about 3.5 years left on the renewable contract. (Actually, there is only a single contract right now, but the owner is happy to make a contract for each bar if only 1 is purchased). Rent per bar is 50k per month, plus about 6k for electricity/air. The bars are profitable! We are looking to get about 2 million per bar or 3.5 for both. This price is based upon what I paid for them, and what money I invested in equipments etc. I am not really looking to make a profit on the deal. I'm more interested in selling them for a fair price so that we can concentrate on this Samui project! A bar on the ground floor recently sold for 4 million, so that should give you an idea.... Drop by any night after 8pm when we are both in the bar, or call me to discuss - 071105430 cheers Simon Link to comment Share on other sites More sharing options...
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