Guest Posted July 10, 2002 Report Share Posted July 10, 2002 Well I can see I'm not getting the advice I was hoping for here..haha! Stonesoup, you have listed quite a few expenses there, some i think can be eliminated, but very thorough. I have thought through some of the expenses I would need, that isn't the biggest concern for me however. I'm not looking to make a huge profit or drink my money away..haha. The establishment i have in mind will be small to start with, with the goal to be able to make enough money to stay in the LOS on a long-term basis. There are risks in starting any business, but i don't want to risk putting money into another bar's stock, only to see it disappear. The idea or theme for the bar is quite creative, but is confidential at this time. This would be something different than anything I've seen there. I guess if anything, is there someone here that can recommend me to or can help with the legalities of how to get started and set up a proper plan to succeed. Thanks for the good input though, good or bad, any talk about thailand is my cure for getting through the crappy days here in farang land. Link to comment Share on other sites More sharing options...
StoneSoup Posted July 10, 2002 Report Share Posted July 10, 2002 Lovegun - IF you have the ability to unzip a WinZip file, send me your Outlook style e-mail address (file too big for public yahoo, hotmail, etc.), and I will e-mail to you a hyperlinked file that will keep you busy for a while. Not specifically tailored to starting up a bar, but applicable to all business start-ups here. Send your address to steve@indo-siam.com Cheers! Stone Soup Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted July 10, 2002 Report Share Posted July 10, 2002 Hi Stone Soup, Thanks very much for your definitive reply, I think as others have eluded to most bars you come across are up for sale so there must be a reason for that. STH Link to comment Share on other sites More sharing options...
Guest Posted July 11, 2002 Report Share Posted July 11, 2002 lovegun, "Well I can see I'm not getting the advice I was hoping for here..haha! " "I guess if anything, is there someone here that can recommend me to or can help with the legalities of how to get started and set up a proper plan to succeed." It seems to me that StoneSoup is offering you exactly the kind of information you need to evaluate the potential of your dream. In addition, there is much information available on the web regarding startup costs, work permits, etc. Just do a search on Google and you will find it. If you were to manifest the same level of sloth in operating a bar that you are displaying here, then your chances of success would be slim. J22J Link to comment Share on other sites More sharing options...
Guest Posted July 11, 2002 Report Share Posted July 11, 2002 >can help with the legalities< there are nothing what you would call legalities in a western sense. it's a very greyzone business here, and the legalities depend very much on who you know. Link to comment Share on other sites More sharing options...
Guest Posted July 11, 2002 Report Share Posted July 11, 2002 Not quite owned one, but managed a place on Samui for a while for a Thai family. I was young and only had a bit of experience in hospitality but for the main part knew how things should be on an opporational basis. The main problem was the reluctance of my Thai partners to invest and make the place appealing to the tourist population over and above the hundreds of other such places in Chaweng. These people seemed to think that just by having a farang working there that people would flock to the joint. Alot of Thais did, just to see the white monkey bring them drinks. There is also the problem of girls working there, the intriuge and backstabbing is unbelievable, you will end up the centre of affection for 2 or more ladies, gaurenteed, but it is not a good thing. The long working hours are another bummer and the chances to enjoy the scene are few if you are serious. I used to have one night off a week and often worked 20 hour days. All in all I'd say forget it, go and teach english or play the stockmarket. Cheers Jaga Link to comment Share on other sites More sharing options...
Guest Posted July 11, 2002 Report Share Posted July 11, 2002 E-mail me at info@sunbeltasia.com I have tons of stuff on owning a business in Thailand. Will not put my link to my website on this public board(board rules) but will be happy to do so on a private level. Link to comment Share on other sites More sharing options...
Guest Posted July 11, 2002 Report Share Posted July 11, 2002 I run a restaurant in Bophut village (on Samui) which is reasonably successful. I started with NO experience in the hospitality business at all. The day we opened we didn't even have a cook and could only sell soft drinks and beers! There was a steep learning curve as running a restaurant is very difficult, much harder then running a bar. This was especially true as I was new to Samui and had to figure out basic things such as the best markets/places to get fresh produce, taking care of sceptic tanks and refuse collection, finding good staff, stock control & storage, business licenses, tax, local politics, etc. But we (GF and myself) learnt quickly and soon the cash was flowing in. We work hard but always have fun. I'm proud of what I've achieved as around here I see places (bars, cafes, shops) change hands and go bust regularly. I think the thing that really makes opening a bar or restaurant so popular in Thailand is the fact that it is incredibly easy to do so. There is minimal red tape and restrictions, very basic accounting and tax procedures, no worker's unions or employment tribunals, plenty of opportunities, and a weak local currency. I've learnt many lessons but here are some things to consider that haven't been raised before: Business is seasonal - It's very important to understand this and factor it in. Wear and tear - You will always be spending money repairing/replacing things that break Thai partner - A trusted Thai partner is recommended, one with strong contacts and power in the community is a bonus. Good staff - Happy, friendly but well-trained staff are essential. Take time to teach them customer care as Thais don't always understand what farangs expect. Business plan - While I'm no accountant, I try keep track of expenses and income. Try to plan everything on paper first, before spending money. Don?t give up if you have a dream. It's better to give it your best shot, then to spend your days muttering, "if only ?" ShokDee Link to comment Share on other sites More sharing options...
Guest Posted July 16, 2002 Report Share Posted July 16, 2002 Cost of bars at the moment. Mostly secong hand information. Beer bar soi yero 600K Soi Cowboy Go Go reputed sales price of SW(Small Go Go) a few weeks ago was 5 Million this was before remodelling etc. A share in large Go Go in Nana 75 million. Pattaya Beer bars prices are as reported look in the Pattata mail. However Beer bars not for sale i.e. those run by thais in good areas go for 250k a year plus 25k a month. Some cheaper but not such good locations. You can get some hole in the wall bars with accomadation for perhaps 300k for 3 years plus 10 to 15k a month. Pick the right area i.e. quiet now but on its way up and you may make some money in year 2 and 3 then your landlord will double or triple your rent and you can pick your bar up and move it of his land or end up virtually working for him. The reason why there are so many bars is not a business reason of making money though indeed some do. Mostly its farangs wanting a hobby bar for thier wife girlfriend min noi etc or farang thinking with thier dick and looking at it as an idea lifestyle. This may sound negative but its all information not advice, what you do with your money is up to you. I hope you have fun with it. One further point I could probably get you a bar from one of my friends which does actually make a nice little profit, legitemate up and coming area. They would probaby sell for the right offer. Sounds good? Im afraid it isnt you would probably lose a lot of your money. Why? Well the owner is a (very) attractive lady, its her presence which brings the customers in. No customers is not a good idea when trying to run a bar. Just one of the myraid pitfalls of bar ownership. Link to comment Share on other sites More sharing options...
Guest Posted July 16, 2002 Report Share Posted July 16, 2002 The bit about buying and selling bars makes a lot of sense. Is there anyone doing this? Why shouldnt a broker with the local know how, facilitate would be investors and take a profit if the business does not work. I am not suggesting that the Broker preys on the unsuspecting and gullible. Rather that it would make sense for someone to add a little local colour in return for a nominal share in the equity and the option to buy the business back at a predetermined market value. This way the broker scores whichever way the dice rolls and the punter gets to prove whether they have got what it takes to beat the odds. Businesses are run by people and and its the people which can and do make a difference. Link to comment Share on other sites More sharing options...
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