Guest Posted July 17, 2002 Report Share Posted July 17, 2002 Jesus H christ, bloody hell 75000000 for a share of a bar only, you could buy a brothel here for that and get change and make your money back in 2 to 3 years. Who would be the fool to pay that amount for a share for godsake. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted July 17, 2002 Report Share Posted July 17, 2002 75 000 0000 thats approx $ 1 875 000 US dollars, would you have any legal rights if you had a share, the police can close you down arbitarily and Nana could close down. Do people often buy a share? STH Link to comment Share on other sites More sharing options...
StoneSoup Posted July 17, 2002 Report Share Posted July 17, 2002 It should be pointed out that there are bars run as hobbies, and bars run as serious businesses, and there is also another kind of bar - used to turn "black" money into usable money. A large bar is a good way to launder money from drugs, underground lotteries, and various other illicit businesses. Once you get into that area, the apparrent high acquisition/operation costs can almost fade into insignificance. Take a look at the figures in "Guns, Gambling, and Ganja" to get an instant understanding of the magnitude of the "black" funds floating around. 75 Million baht might be a month's take from some of the larger "entrepeneurs". My comments are not meant to denigrate the significant population of legitimate large bars that are run on the up-and-up (at least within the "norms" of whacky Bangkok). Stone Soup Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted July 17, 2002 Report Share Posted July 17, 2002 Hi Stone, I've read the book you referred to fascinating, especially the features on illeagal casinos, also the almost institutionalised pay offs each police station receives from each casino, card school in their block. STH Link to comment Share on other sites More sharing options...
StoneSoup Posted March 22, 2003 Report Share Posted March 22, 2003 I dredged this one up from the catacombs in Bunguan's honor. Step #1 - Go to Hogsbreath Inn on 2nd floor of NEP on a Sunday afternoon for a free bowl of chili, and ask Bob, the owner, to give you his monologue on all the reasons to not open a bar in Bangkok. Colorful, at a minimum. I run a company that helps non-Thais start companies here. Effectively, you would open a "holding" company here with no real legal connection to a bar, and then use that company to acquire a bar, or several bars (which could have a different name(s) from the holding company. What my firm does not do is property transactions - but I can recommend a firm (joint Thai/farang operated) that specializes in property transactions. Protecting yourself with respect to property ownership/ lease is paramount - as about 80 bar owners will tell you, all of whom lost everything in one 120 minute span of time just before dawn on Sunday morning, 26 January. If you don't know about that incident ("massacre") - "STOP" - do not pass "GO" - go do some more homework. Other than losing the land from underneath you, the only bad things are: 1. You can get killed 2. You can go to jail 3. You can go broke #1 and #2 are pretty unlikely - best dealt with by making an "arrangement" with the local police that gives them a vested interest in your success. #3 is the way to go - as slowly as possible. Make sure you have a well-conceived exit strategy (unless you plan to die of old age behind the cash register). You are going to need Thais to work for you (or pretend to work, at any rate). The types of Thai who choose to work in the bar scene in Thailand are probably not the same types entrusted to be bank tellers or diamond shop sales staff. So - you might as well hire attractive people that you like. Maybe better to be robbed by friends, than by strangers ??? Whatever your "really neat" concept, build a financial model, and run the numbers. If that's not your thing, I can (for a fee) build you such a financial spreadsheet model. It has income items in one (very short) section, and expense items in another section (that is REALLY long - it almost stretches to infinity). Read the thread below to get a glimmer. My personal rcommendation - before launching a bar business here, make friends with a local bar owner, and go to work for free as a "virtual" (shadow) bar owner/manager - for about six months - best would be August through February. Carry a little notebook, and try capturing all the minute costs (and headaches) of running a bar in Thailand. Next best is simply buy into a bar as a minority shareholder - and watch the process unfold for six months from that view. To come in as an outsider and open a bar here with no local partner - just jumping in with a "great idea" is - well, maybe sort of like being someone who knows nothing about motorcycles, but decides that he will make his fortune by jumping a motorcycle over the San Saeb canal - tomorrow afternoon - by roaring down Sukhumvit Soi 1 at 180 km/hour, and just "knockin' that baby dead." This is called "becoming a conversation piece" for fellow punters for years to come. Good luck! If you want serious professional assitance, we can do that too - hail me at stone@indo-siam.com. The Fighting Fish Stone Soup Link to comment Share on other sites More sharing options...
Guest Posted March 23, 2003 Report Share Posted March 23, 2003 > nobody thinks they need professional (paid) help here, so nobody pursues this assistance. A nice encapsulation of just about every business in Thailand - well done! Link to comment Share on other sites More sharing options...
Guest Posted March 23, 2003 Report Share Posted March 23, 2003 > 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. Oh- hell, why didn't you SAY so? If you have a gret new creative idea, well of COURSE you'll succeed - just ask Sony's Betamax division or the good folks at Apple! More power to you! > 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. Isn't that exactly what Stonesoup offerred? Good luck! Scuba Link to comment Share on other sites More sharing options...
StoneSoup Posted March 23, 2003 Report Share Posted March 23, 2003 This is a strange thread because the bulk of it unfolded in summer of 2002 - only the last three replies (mine and Scuba's) are from 2003. I brought it back from the dead for Bunguan, whose actually inquiry is at another thread with name similar to this one. So - Lovegun is long gone from this discussion - and there is no evidence yet that Bunguan has taken note. So I may have goofed by dredging up old news. Still, many of the points are worth reviewing periodically. "Let the good times roll!" The Fighting Fish Stone Soup Link to comment Share on other sites More sharing options...
JaiGuruDev Posted August 6, 2003 Report Share Posted August 6, 2003 [color:"#666666"]"""I may have goofed by dredging up old news."""[/color] No way! It's an interesting thread. Your posts on running a bar caused me to add a few things to my spreadsheet. I was surprised at your comment that people don't usually set up models on spreadsheets. That was one of the first things I did. But I must admit it's not immediately obvious how to make the business viable. Link to comment Share on other sites More sharing options...
JaiGuruDev Posted August 6, 2003 Report Share Posted August 6, 2003 Hi Scuba, I recall that a year or so ago on another forum, you were discussing a business incubator project, or a project to set up family oriented businesses in BKK. (Sorry if I got it wrong, but my memory just ain?t what it used to be.) But if I did recall it correctly, it would be interesting to hear an update if you have the time. Link to comment Share on other sites More sharing options...
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