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Business for sale are rubbish


badboybilly

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over the last few months i have been looking at business's for sale,i have 10 million baht to spend.

 

The first business i went to look at was priced at 12.5 million baht,it waS a leasehold bar and guesthouse in soi bukhao,owner claimed it made 15 million baht a year but had no accounting books. 

 

In fact most if not ALL were overpriced AND had no books to look at,no tax returns but they wanted big money.

 

Another was a pizza restaurant where the owner wanted 3 million baht,and lied to me by telling me he had opened 4 yeares ago,a quick look on the internet revealed he opened last september.

 

i worked out i could buy a shophouse for 10 million and rent return is over 50k per month,so that maybe a better option than a business.

 

I liked those shops in BIG C EXTRRA but rents were very very expensive some 100,000 b plus per shop.

 

is "subs n suds" in soi bukhao still for sale? ...........?

 

interestingly "SHENANIGANS" at the MALL was trying to sell to me for 3 million baht urgent sale............looks like its closed now though......they had their business broker offering me free dinners

Is that guy still trying to sell his BLUE ROOM BAR ? .................

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over the last few months i have been looking at business's for sale,i have 10 million baht to spend.

 

The first business i went to look at was priced at 12.5 million baht,it waS a leasehold bar and guesthouse in soi bukhao,owner claimed it made 15 million baht a year but had no accounting books.

 

In fact most if not ALL were overpriced AND had no books to look at,no tax returns but they wanted big money.

 

Another was a pizza restaurant where the owner wanted 3 million baht,and lied to me by telling me he had opened 4 yeares ago,a quick look on the internet revealed he opened last september.

 

i worked out i could buy a shophouse for 10 million and rent return is over 50k per month,so that maybe a better option than a business.

 

I liked those shops in BIG C EXTRRA but rents were very very expensive some 100,000 b plus per shop.

If you're happy with a 4-6% return, buy a shophouse on a prime location. If you want a little more, have a good look at condo's. But why would you buy a business here in Thailand? Good businesses won't be for sale and if they come on the market, you certainly won't be the first person to hear it. A real entrepreneur can start from scratch.

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Here is an opportunity for you,  buy a Soi 6 freehold that I choose for around 7 million, and rent it to us for 37k a month with no key money.

 

There was two available for 10 million cash on the dash,  we would rent that from you if you buy it.

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Here is an opportunity for you,  buy a soi 6 freehold that I choose for around 7 million, and rent it to us for 37k a month with no key money.

 

There was two available for 10 million cash on the dash,  we would rent that from you if you buy it.

Let's see if he's got the minerals...

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Let's see if he's got the minerals...

 

I see the pain from all angles now, businesses are overpriced here IMO as you have probably noticed on your hunt.

 

I walked in a shit crap hole guesthouse the other day in the view to buy the leasehold,  some of the rooms I wouldn't let my dog sleep in.  The landlord wanted too much rent which is based on the fact that its a hotel and earns steady money.  The landlord wanted 1 million for a new contract.....   and when I asked the lady how much she wanted for the crap beds,  office table and around 12 aircons,  which was the true content.  She wanted 5.5 million baht.......  I didn't see the point of negotiations, as it was too distant than my idea.  hotels are very high priced here,  but I feel that you really need to make your own shit to truly make some good money and not get skanked.

 

I am getting frustrated with all that, there is no point me paying a shit load of money for a going concern, as I can do all that myself, so paying that amount of money is simply a waste,  i need to find a way of buying our own stuff, so landlords can go suck there own dicks and I don't have to be there bitch.

 

Its funny, cuz you have the sellers price which is usually based on the fact that they were robbed by the previous owner by over paying.

 

Then you have the buyers price which is often judged by how much they have, so they just pay the asking price.

 

Then you got guys who truly know how much its worth to them,   whats worth to me, is worth alot more to other people.

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over the last few months i have been looking at business's for sale,i have 10 million baht to spend.

 

The first business i went to look at was priced at 12.5 million baht,it waS a leasehold bar and guesthouse in soi bukhao,owner claimed it made 15 million baht a year but had no accounting books. 

 

In fact most if not ALL were overpriced AND had no books to look at,no tax returns but they wanted big money.

 

Another was a pizza restaurant where the owner wanted 3 million baht,and lied to me by telling me he had opened 4 yeares ago,a quick look on the internet revealed he opened last september.

 

i worked out i could buy a shophouse for 10 million and rent return is over 50k per month,so that maybe a better option than a business.

 

I liked those shops in BIG C EXTRRA but rents were very very expensive some 100,000 b plus per shop.

 

is "subs n suds" in soi bukhao still for sale? ...........?

 

interestingly "SHENANIGANS" at the MALL was trying to sell to me for 3 million baht urgent sale............looks like its closed now though......they had their business broker offering me free dinners

Is that guy still trying to sell his BLUE ROOM BAR ? .................

Don't waste your time here. The real deal will be tourism in Myanmar in the next few years. Get in early, make the contacts in government and find yourself a good spot with ocean views an you will be laughing all the way to the bank.

"If it feels good, just keep doing it!"

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is "subs n suds" in soi bukhao still for sale? ...........?

 

I didn't know it had moved there. I remember it closed a few years back when it was on 13/1.

 

If he simply moved it, he did a damn good job keeping that a secret.

 

I used to love the sandwiches from that place -- especially the French Dip.

 

Anybody know if it is actually open and on Soi Buakhao?

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I see the pain from all angles now, businesses are overpriced here IMO as you have probably noticed on your hunt.

 

I walked in a shit crap hole guesthouse the other day in the view to buy the leasehold,  some of the rooms I wouldn't let my dog sleep in.  The landlord wanted too much rent which is based on the fact that its a hotel and earns steady money.  The landlord wanted 1 million for a new contract.....   and when I asked the lady how much she wanted for the crap beds,  office table and around 12 aircons,  which was the true content.  She wanted 5.5 million baht.......  I didn't see the point of negotiations, as it was too distant than my idea.  Hotels are very high priced here,  but I feel that you really need to make your own shit to truly make some good money and not get skanked.

 

I am getting frustrated with all that, there is no point me paying a shit load of money for a going concern, as I can do all that myself, so paying that amount of money is simply a waste,  i need to find a way of buying our own stuff, so landlords can go suck there own dicks and I don't have to be there bitch.

 

Its funny, cuz you have the sellers price which is usually based on the fact that they were robbed by the previous owner by over paying.

 

Then you have the buyers price which is often judged by how much they have, so they just pay the asking price.

 

Then you got guys who truly know how much its worth to them,   whats worth to me, is worth alot more to other people.

Yes but there's always someone whos worked in a factory most of his life, retired,

 

cashed in his super with no idea how to run a bar or any customer orientated

 

business, little own a bar in thailand and no idea whats a decent price is busting

 

his gut to "live the dream"

 

i bet there are 60+ or so bars, gogos, restaurants in pattaya bought that way every

 

year and hence the

 

"to make mill you need to blow 3"

 

idiom

Member since Dec 06.

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Yes but there's always someone whos worked in a factory most of his life, retired,

 

cashed in his super with no idea how to run a bar or any customer orientated

 

business, little own a bar in thailand and no idea whats a decent price is busting

 

his gut to "live the dream"

 

i bet there are 60+ or so bars, gogos, restaurants in pattaya bought that way every

 

year and hence the

 

"to make mill you need to blow 3"

 

idiom

 

I took this picture today.

 

Photo0028.jpg

 

This was a bar on 2nd road that was still open just a few days ago. Pretty good location too, just a few step north of Tipp Plaza. Never saw any customers in it though.

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'Business for sale are rubbish' ... that's probably the main reason why they are for sale .  

 

If you wanna buy a business better start from zip .

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What is a thriving area? Soi 6? The Soi is not manned by fools, so one can assume that the rental value outweighs the profit gained by selling the land.Thus it should remain - in my lay opinion - stable for the foreseeable future.

 

Quite telling is what happened to a nice well located Russian restaurant in Naklua. It had few customers, and it closed. However, there were always Russians walking by with their 7/11, Family Mart, and food cart purchases. The unfortunate owner probably thought that he had made a wise investment. Also, many beer bars are not faring well.

 

My view has always been that the money is being funneled out of Pattaya, and recent posts have satisfied me that is is going into the pockets of the Chinese Thais.

 

My lay opinion is that due to the uncertainty of Pattaya's future, I would focus on due diligence ,and I would be very cautious when investing.

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This maybe worth looking at with the LK Metro area growing as it is, the Growling swan ( previously the Bunker bar) bar and guest house at the top of soi Chaiapoon, Peter the Ausy owner of the lease is selling up, not sure of the reason but think its not because of no customers as he runs a Golf society and has a good thing going with that, the rooms I looked at were done well, I think there were about 6 rooms, its a double shop house.

He also has the building nearly opposite a single shop house with a closed bar on the ground floor and rooms above, again dont need too much doing to it, run both together for the rooms, could make the bar in the single shop house another room so would be total about 12 rooms and well set up bar, someone into Golf or not but keep the golf society going and building it up could be a good business.

 

He was asking about 4 mill for the business includes the lease on both buildings and all furniture etc etc, then I think rent for both is about 40k per month, anyway in my opinion would be a good investment for the right person, his email is [email protected] website www.thegrowlingswan.com petes number 086 150 3086  

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$AFBADGE.jpg

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Many will disagree but I see no value in owning a business here in LOS. It is harder to own a business here than in the west, some of the businesses we want to own here (that make money) are not legal, and you have multiple elements with their hand out (music, BiB, etc) trying to get their share of the gold rush of stupid farangs. In most western countries, the books are easier to verify and there are some laws to help protect from fraudulent transactions. Add to this, that the landlord or a neighbor may see how well you are doing or THINK you are doing and then just copy you and put it right next door.

 

because of course, (and I have heard this more than once from a local), if they build right next to you they should make double what you make (and assuming then you do too, somehow 4x the customers will come?). When asked to verify this, or explain, there is no actual logical explaination of course. It's mind boggling.

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I took this picture today.

 

attachicon.gifPhoto0028.jpg

 

This was a bar on 2nd road that was still open just a few days ago. Pretty good location too, just a few step north of Tipp Plaza. Never saw any customers in it though.

 

 

"He's" probably making Mint renting out that step. :)

Member since Dec 06.

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Many will disagree but I see no value in owning a business here in LOS. It is harder to own a business here than in the west, some of the businesses we want to own here (that make money) are not legal, and you have multiple elements with their hand out (music, BiB, etc) trying to get their share of the gold rush of stupid farangs. In most western countries, the books are easier to verify and there are some laws to help protect from fraudulent transactions. Add to this, that the landlord or a neighbor may see how well you are doing or THINK you are doing and then just copy you and put it right next door.

 

because of course, (and I have heard this more than once from a local), if they build right next to you they should make double what you make (and assuming then you do too, somehow 4x the customers will come?). When asked to verify this, or explain, there is no actual logical explaination of course. It's mind boggling.

If you can find a business - probably a large well known franchise and locate yourself in Central Festival or the equivalent in Bangkok - you will make very good money in Thailand

 

Otherwise forget it - invest the money in your own country - make sure it produces in line with inflation - and spend your profits wherever you want

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With all the potential upcoming political turmoil over the next few years in Thailand one would want to have a long-term perspective, and money that they can lose entirely and not be concerned.

 

Many good businesses are not the ones that are obvious.

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Many will disagree but I see no value in owning a business here in LOS...

 

There is value if you understand the market and fill a niche. Of course, you have to be very good at that niche.

 

The Lone Star Texas Grill is perfect example of this. American barbecue and Tex-Mex grub, and even though the operator is not an American, he sure as hell knows what he's doing.

 

The food is awesome and the decor excellent. Prices are reasonable as well. He will likely never have any real competition for that niche. And don't bother mentioning Tequila Reef. I'm talking about a whole different league of operator here.

 

Then you've got people who don't understand the market at all. That is the vast majority of falung business owners here. I can spot the losers from the starting gate.

 

Almost every bar in town looks like a loser to me, basically because they're all doing the very same thing.

 

Filling a niche? They'd probably suffer an aneurysm just trying to come up with one. Promotions? What are those?

 

What's really amazing is that the bar business is a tiny fraction of the available market and people keep opening/buying them.

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Don't waste your time here. The real deal will be tourism in Myanmar in the next few years. Get in early, make the contacts in government and find yourself a good spot with ocean views an you will be laughing all the way to the bank.

I agree, Burma or Cambodia. I believe you can make a great deal of money, but Burma will take longer than Cambodia.

 

In Cambodia the Chinese are spending billions, and I am sure they are not stupid.

 

Read this about Cambodia: http://flagtheory.com/cambodian-citizenship-2nd-passports-frontier-investing-private-equity/

 

http://www.tataicambodia.com/

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I agree, Burma or Cambodia. I believe you can make a great deal of money, but Burma will take longer than Cambodia.

 

In Cambodia the Chinese are spending billions, and I am sure they are not stupid.

 

Read this about Cambodia: http://flagtheory.com/cambodian-citizenship-2nd-passports-frontier-investing-private-equity/

 

http://www.tataicambodia.com/

Cambodia really needs some development, and I hope that the poor also  benefit from it.

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The problem is not good business Ideas or GoGo girls quality or Good Food etc etc that we are led to believe.

 

The single biggest problem is RENT to give to Thai-Chinese. 

 

You will never become a millionaire but they will, if you continue to do business. For example.

 

The first year rent would be 10,000

 

Second year ...20,000

 

Third Year....50,000

 

Fourth year ...100,000

 

You will have no option but to raise your prices or move out, either way, you will be screwed in the end. They will find a sucker or live the space open but WILL NEVER RENT FOR CHEAP NO MATTER WHAT

 

You always wondered...Why Business owners in Thailand raised the prices, when they have low customers....We all made fun of Thai Logic, until, we came face to face with Thai-Chinese Rental game. :DeadHorse2: ..Now you know why.. :Anger8:

 

Even Russians business owners are finding it the hard way....and also, we are all too too late...if it was in the 70s we would have made money..The market is saturated in pattaya.

 

I agree with other members, open something up in Mayanmar or Philippines is a good option as Tourism is picking up and Filipino-Chinese are not buying up YET all beach front properties but they are on the move and I know many farangs investing in Philippines.

 

Consider Inflation, Thai Bhat, and ever increasing rent and your income will be in decreasing proportion  every year while when you step out of the bar, you see a Ferrari zipping past and you wonder, who owns these stuff, I'm suppose to be the rich guy here  :SteamingMad:

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If I had that money, you are suppose to be retired,...why work,let everyone else do it while you spend your ten million bahts.....slowly,,,a baht at a time

 

 

Cheers tommy x

cheers, Tommy of Richmond

why sleep if you are going to get up anyway?

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If I had that money, you are suppose to be retired,...why work,let everyone else do it while you spend your ten million bahts.....slowly,,,a baht at a time

 

 

Cheers tommy x

It wont last if i spend it all

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Do what a friend of mines done and buy cheap condos in Bangkok, not Pattaya and rent them out to. Expats. I think he bought four, and living in one,..they all rent out easy he said. The renter pays for everything too.

 

Cheers tommy x

cheers, Tommy of Richmond

why sleep if you are going to get up anyway?

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When you consider the business risk and high prices this is a terrible place to invest.

Why not invest in mutual funds and be happy with, say, 5% return? My guess is that's not enough to not work. So you are looking for a higher return and I can tell you that Thailand is not the place to find it ESPECIALLY when you consider the risk involved! Most businesses you can borrow debt and enhance your return but that is not the case in Thailand, so you are immediately at a disadvantage.

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