A question for small business owners in Thailand

gooze · Specialist Joined: 20 Apr 2007 Posts: 170

You have allready answered your own question. I came here five years ago with a similar ammount of money. Im still here, I guess that makes me lucky cause I sure as hell aint no genius. Working in Thailand (for yourself) is a nightmare and should only be undertaken by seriously delusional persons such as myself. Yes it can be done there are many of us who have acheived this goal.

However with more and more expats trying it, its becomming harder by the day. There are only so many slices of cake in the pie.

Whatever you decide I for one wish you well.

Slunky · Novice Joined: 11 Jul 2007 Posts: 1

Maybe this belongs on a different thread, not sure? I have the opposite situation in some ways. I just started a business that is run by my Thai girlfriend, but I'm looking for work closer to Thailand, (I am Canadian working in Canada as a carpenter). I find it very difficult to find info on carpentery work overseas; be it Korea, China, or Saudi or Dubai, etc. I would like to work a while longer before settling down in Thailand. When the time comes, I would like to set up a shop in Samui and train some Thais to make and install western/european style finishing work, such as trims, moldings, window casings and the lot; but for now I want to find out where the house building is going on in Asia
To Pagey; good luck. It can be done and has been done and a lot of good advice was offered. It really pays dividends to absorb some Thai "common sense". There will be some head scratching moments anyways, but it's nice to think you know the "thinking" behind them. It's always nice to have a bit of extra coin salted away with exchange rates up and down on a daily basis; and if you don't jump into the fire on your next visit; you can always spend your R&R time in LOS to to soak up the Thai peculiarities!

lomuamart · Posted: Wed Jul 11, 2007 11:11 am Post subject:

Pagey · Posted: Wed Jul 11, 2007 12:12 pm Post subject:

Gents

All good informative stuff, there is no right or wrong answer of course.

Slunky : You mention working in the Middle East. I am living on a new compound built from scratch and still maintained by an army of builders,joiners,leccys etc. They are all from the Phillipines or India because labour is so cheap. Not an expat in site nor expat quality I may add.

Gooze : Not sure I stated how much money I will be bringing, however, I won't leave Saudi unless I think it's enough. Thanks for your good wishes. If it doesn't happen now I will just retire fully in the future.

Webmaster : This forum has drilled in to me that don't spend what you can't afford to lose. I have taken into account the cost of buying the business and I can afford to lose it. I DON"T WANT TO and as a Yorkshireman will do my best to keep it and make more. thumbs up

I have not heard of those books so I will look them up, thanks.

Buksida : I am not looking to get rich. I am not buying a multi million Baht resort, just a small shop and profit is relative to expenditure. If I earn enough to pay my rent and food I will be happy. However, after the initial enthusiasm I wasn't hoping to work THAT hard, I was hoping Thai girls would take the strain while I have a lie in the morning thumbs up

Barry : Already stated that the whole visa situation is baffling to me ! Maybe when I live there I will grasp it. And yes, would like to meet local businessmen for a drink and a chat. Cheers

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Learn all the rules so you know how to break them.

prcscct · Posted: Wed Jul 11, 2007 3:32 pm Post subject:

I don't think Pagey is interested in this one but....paper today has a listing for a 17 story hotel on 8 rai in central HH, close to Petchkasem Road, 720 million Baht. Any idea which hotel? Pete Cheers

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"What America needs is a huge hypodermic needle of morality." Alice Cooper 21 Sept. 2007

Pagey · Posted: Wed Jul 11, 2007 4:24 pm Post subject:

Out of my league Pete, my spreadsheet doesn't run into millions ! thumbs up

I am well known in Riyadh for my 'spreadsheet', which is just some simple calculations from opening bank balance, plus yearly interest less projected outgoings.

I tinker with different scenarios, and of course have built in the cost of buying a business and current profits. My aim is to always have a large surplus sum when I am 65, then my 2 pensions kick in and I should be safe.

I always err on the cautious side - eg interest I have fixed at 4% even though I get between 4.5 and 5.5%. Half a percent over 20 years on say 100,000 GBP makes a significant difference.

My outgoings for Thailand were estimated at 12,000 GBP per year,personal spending, not business, although I hope to live for less, and increased by 2% a year.

These are the calculations that help me make my decision to move to Thailand, or at least give me a good indication if I can afford it.

It's not all guesswork Idea

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Learn all the rules so you know how to break them.

lomuamart · Posted: Wed Jul 11, 2007 4:26 pm Post subject:

That's a lot of money.
Now where is my "friendly bank manager?" Idea

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"I spent a lot of my money on booze, birds and fast cars - the rest I just squandered". George Best.

lomuamart · Posted: Wed Jul 11, 2007 4:40 pm Post subject:

STEVE G · Posted: Wed Jul 11, 2007 5:29 pm Post subject:

ideacon · Posted: Wed Jul 11, 2007 5:35 pm Post subject:

Pagey: Now you've read a lot of posts...many of which I find rather disencouraging... But I hope you're still hanging on there? Razz

Of course if you want to succeed in business in Thailand, there is no difference from your home country or Saudi....you will need to work hard at least in the start-up-phase.... also if you take over an existing business... There are always a reason why someone want to sell a business...bad health, family problems, a sick bufallo ( thumbs up

) or simply because the biz doesn't earn money!
No matter the reason for sale, remember to check, and re check the books and figures...also from the revenue department, stating how much tax is paid over the period.
But "working hard" in your own business doesn't feel "hard" at all, compared to working for an a**hole boss, right? Mr. Green

If things turns out well, you will feel the "hard work" like kind of a hobby...

Of course your will get your ups and downs, all business men in Thailand have tried this, no? But don't let that discourage you, just get back on the horse! Cheers

ideacon · Posted: Wed Jul 11, 2007 5:52 pm Post subject:

buksida · Posted: Wed Jul 11, 2007 6:19 pm Post subject:

prcscct · Posted: Wed Jul 11, 2007 6:30 pm Post subject:

lomuamart · Posted: Wed Jul 11, 2007 7:14 pm Post subject:

I always preferred the name - "The Melia".
It was a lot less busy then.
Mind you, I'm a die hard - c'mon Bruce Willis.
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"I spent a lot of my money on booze, birds and fast cars - the rest I just squandered". George Best.

bradders · Specialist Joined: 09 Jun 2007 Posts: 115 Location: Dubai