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Post by Deleted on Dec 26, 2015 10:50:26 GMT 7
How's this example.
Was at the Paseo mall at Lat Krabang. Nice place, lots of great food. Anyway this fat slob farang has this Mexican food hut. I see the sign, walk over to have a look. There he is by himself working in there, with a plate of wings or whatever, and he's sucking the sauce off his fingers. He turns around and says what can I get for you? Umm, no thanks you pig.
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cmk
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Post by cmk on Dec 26, 2015 11:44:31 GMT 7
Give up now before you lose a shed load of money. A friend set his wife up with a restaurant opposite a university. Great site, so I thought. The food was good - western and Thai - but the students never came. The finances were screwed (too much rent for the place, steep price for electricity, and a thieving cook who stole from the place). It shut after about 3 months. An expensive lesson in what not to do. Here's what i find amusing. Thousands of great businesses in Thailand doing very well. Very very well. Then people know of 1 fool that opened some bar or some restaurant and ran it into the ground. That person probably ran their whole life into the ground over the years. Point is just because you heard of 1 failure, doesn't mean they all are. Cornell University asserts that a more likely estimate is 60%, with an increase to 80% in the first three to five years of operation. In short, only 10% to 20% of all restaurants get to see the end result of their five-year business plans. www.restaurants.com/blog/why-do-restaurants-fail/#.Vn4ablKo05tWill a bank loan you money on a new restaurant? A bank will loan money on many new businesses but not restaurants. I would imagine you think MacDonald's is a restaurant company. In fact MacDonald's is a real estate company. Rental income from franchisees accounted for more than a fifth of McDonald's $27.4 billion in total revenue last year—when overall revenue fell 2.4% and profit dropped 15%—and represents a growing part of its business. |
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Post by rgs2001uk on Dec 26, 2015 11:45:11 GMT 7
Give up now before you lose a shed load of money. A friend set his wife up with a restaurant opposite a university. Great site, so I thought. The food was good - western and Thai - but the students never came. The finances were screwed (too much rent for the place, steep price for electricity, and a thieving cook who stole from the place). It shut after about 3 months. An expensive lesson in what not to do. Here's what i find amusing. Thousands of great businesses in Thailand doing very well. Very very well. Then people know of 1 fool that opened some bar or some restaurant and ran it into the ground. That person probably ran their whole life into the ground over the years. Point is just because you heard of 1 failure, doesn't mean they all are. What I have observed over the years involving more than one fool. Too many get involved in nothing more than a social welfare programme for their wife and her family. Wrong location. Trrying to charge Bkk prices in the ass end of nowhere. I was called a snob coz I refused to pay the rip off prices in some farang place and went across the road and drank with the Somchais for half the price. Somchai and his mrs are happy to work for 15,000 baht per month, the farang wants to make that in a week, hence prices himself out the local market. Yes there are those who make it, they all had one thing in common, they owned their property, they werent at the mercy of landlords, rent hikes and key money etc etc. One guy I know in Pattaya is doing well, but he will be closing up, he cant afford the new rent he has been quoted. The ones I know who sleep well in their beds at night are the guys who bought a job or hobby, they live on their pensions or other income, the business is just something to keep themselves occupied, as long as it breaks even they are happy and play golf every day for free. |
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Post by Slade Wilson on Dec 26, 2015 11:49:07 GMT 7
2 Good points above.
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cmk
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Post by cmk on Dec 26, 2015 11:54:30 GMT 7
Here's what i find amusing. Thousands of great businesses in Thailand doing very well. Very very well. Then people know of 1 fool that opened some bar or some restaurant and ran it into the ground. That person probably ran their whole life into the ground over the years. Point is just because you heard of 1 failure, doesn't mean they all are. What I have observed over the years involving more than one fool. Too many get involved in nothing more than a social welfare programme for their wife and her family. Wrong location. Trrying to charge Bkk prices in the ass end of nowhere. I was called a snob coz I refused to pay the rip off prices in some farang place and went across the road and drank with the Somchais for half the price. Somchai and his mrs are happy to work for 15,000 baht per month, the farang wants to make that in a week, hence prices himself out the local market. Yes there are those who make it, they all had one thing in common, they owned their property, they werent at the mercy of landlords, rent hikes and key money etc etc. One guy I know in Pattaya is doing well, but he will be closing up, he cant afford the new rent he has been quoted. The ones I know who sleep well in their beds at night are the guys who bought a job or hobby, they live on their pensions or other income, the business is just something to keep themselves occupied, as long as it breaks even they are happy and play golf every day for free. Yup, yup, yup. I sleep great. I've been successful in the restaurant business for 40 years. I could have made it here. I worked as a consultant in Pattaya for a while for large hotels. Just nuts. The owners were crazy. |
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Post by Deleted on Dec 26, 2015 16:20:08 GMT 7
I like the business plan of Zapa Pad Thai in Hang Dong.
Menu - eight varieties of Pad Thai - take it or leave it.
The owner is the only employee - his Mum steps in if he wants time off.
And the place is busy.
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Post by rgs2001uk on Dec 26, 2015 21:48:52 GMT 7
^^^^ see it all around me every day.
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Post by rgs2001uk on Dec 26, 2015 21:59:47 GMT 7
 Ref what CMK said, know a farang who has been here for the last 25+ years, he is paid to sort out mugs mistakes, doesnt cost him a penny, in fact he is paid a pretty penny. Another farang followed the money and has a very succesful bussiness, funnily enough also in the Pattaya area, woe betide you if you are succesful, be perepared for the snide remarks posted on other forums. Farang mentioned before was quoted 25 million baht to purchase a shophouse in Pattaya that sits on about 20+ tw. 1.25 million per tw, those are Bkk prices, he told me, he can get a better return by buying property in the Uk and living of the rentals, hassle free and headache free. |
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Post by Deleted on Dec 27, 2015 6:54:50 GMT 7
Ref what CMK said, know a farang who has been here for the last 25+ years, he is paid to sort out mugs mistakes, doesnt cost him a penny, in fact he is paid a pretty penny. Another farang followed the money and has a very succesful bussiness, funnily enough also in the Pattaya area, woe betide you if you are succesful, be perepared for the snide remarks posted on other forums. Farang mentioned before was quoted 25 million baht to purchase a shophouse in Pattaya that sits on about 20+ tw. 1.25 million per tw, those are Bkk prices, he told me, he can get a better return by buying property in the Uk and living of the rentals, hassle free and headache free. A Thai I know just spent 40 million baht on a "complex," in Chiang Mai - the complex being a large traditional house, a large coffee shop. and a four bedroom guesthouse - all sitting on about 1.5 rai maximum. He tried to rent out the whole place for 90,000 baht a month with no takers. He's now converting the house and coffee shop to homestays and hoping to generate some profit from that. |
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cmk
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Post by cmk on Dec 28, 2015 12:55:51 GMT 7
My wife borrowed the money for our house. I paid for the furniture because I wanted leather sofa and chairs and a formal wood dining set and a soft bed. We split the mortgage payment which is less than I paid for a condo. Wife's an engineer does management work at an international steel company. She could get paid more if she moved but we like it here. Home improvements we split and I pay for the dog food.
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