Patpong report

[Drronin]

A few months back a friend wanted to meet up in Patpong for some reason. It was probably my first visit in ten years and I was shocked by how tatty it had become. The bars looked rundown, the market cheesy and the girls were few, tired and not that great looking. The only thing that was the same was the incredibly annoying touts who try to steer you in and were the reason I stopped going ages ago and won't likely be going back for another ten years. I wonder if most of these bars are owned by ex-pats or Thais? My guess is Thai's because I would think any foreigner who invested a lot of money in a bar would fix it up and try to get the whole street looking better as they did in Soi Cowboy. When I first started going to Thailand back in the early 90's Patpong was by far the place with the best reputation while Nana and SC were distant poor cousins. Things change.

[Hugh_Hoy]

[On the last couple of trips, the Soi Cowboy Taxi Mafia tout routinely tried to tell me "200 baht!" for a cab back to Nana Hotel (or Nana Plaza), and they always immediately backed down when I replied "Don't be ridiculous. Hasip baht, meter."

 

That group of numbnuts has been doing that for years. Easy enough to walk past them and flag down a crusing or stopped taxi in the second or third lanes. A good taxi driver can still manage to make a right turn onto Sukhumvit and proceeed toward Nana. What ddave says about soi 23 taxi's is correct. Never a problem there with touts or "off meter" nonsense.

 

HH

 

[STFORME]

Anybody know if this is Goldfinger's?

 

A conflicting new business venture has forced the owner of this unique Bangkok Go-Go Bar to sell his half share in the business. The bar sits in one of the city's most renowned nightlife areas where it has operated successfully for the last 25 years. Cash flow has improved significantly during the last seven years however, after the seller took over the day to day running of the bar, and after he completely remodelled it. The sister of the owner's wife was appointed as manageress, and she has proved to be worth her weight in gold, performing the accounting, stock taking, ordering, bill paying and spread sheet presentations every month. Although the seller will provide training the manageress has already indicated that she would like to remain and continue her duties.

 

Very good financial results have been achieved, and the bar has been cash positive every month even during recent trying times. The offering is considered unique as go-go bars in this part of the city virtually never become available. The investor has the opportunity to take a hands on approach; a work permit is available and can be used by the new joint owner or could be made available for a manager if a more relaxed approach were preferred.

 

Rent is considered very reasonable for the area; a good relationship has been developed with the landlord over the years and a rate of 50,000 baht per month is payable even though similar enterprises in the vicinity pay between 100,000 and 150,000 baht per month. Around 60 employees are on the books although half of these work on a commission basis. This means that staff salaries total 300,000 baht per month. The bar has never lost money during the last seven years and earns enough that the seller has been comfortable taking a salary of 80,000 baht per month.

(BKK13863)

Asking price: 8,000,000 baht for 50 percent.

Click here to see this listing on the new Sunbelt Asia website.

 

[shygye]

How many 50% shares are outstanding?

[The_Munchmaster]

Anybody know if this is Goldfinger's?

I certainly hope not but I don't think so. GF's has not been completely remodelled in the last 7 years although they did tidy it up a bit.

[STFORME]

On 2nd thought, maybe Electric Blue. That was remodeled from Rififi 7 years ago.

[jitagawn]

Last week a friend and I needed to cut through from Silom to Suriwong and decided to venture down PP.. We poked our noses into one of the bars and the thing that hit me hardest was the just plain awful smell. The bar smelled like a toilet- Could not deal and we kept going. The place stinks... I guess they are immune to the odor...