Restauraunt as a Business

[IsaanJeeperCreeper]

Anyone have experience running one in Thailand? Maybe an American Expat doing one on an Amity Treaty basis?

Just curious because if theres a Thread or Forum for business owners i haven't found it yet....

If you don't feel up to posting on Publid Forum feel free to hit me up on a Private Message...

[Pinetree]

There are thousands of expats that buy into a restaurant business, usually to provide employment for their Thai family,  rarely, I would say,  as a long term, profitable investment.  I know quite a few around my way.  The only ones that 'appear' to be making money, are high (ish) end, great location, expat rich environment, such as around Mabprachan Lake in Pattaya, or beach side in Bang Saray.  Even then, I doubt they are living on any profits they make, bar maybe a couple.  They also seem to change hands remarkably often.  I would say that unless you have long experience in that industry, the chance of running a profitable restaurant business in Thailand is low indeed. 

[Khunmark]

And it might be advisable to see how much ‘tea money’ the local bill are going to want, when they inevitably come a knocking. It’s usually paid on a monthly basis.

[Marc26]

18 hours ago, Pinetree said:

There are thousands of expats that buy into a restaurant business, usually to provide employment for their Thai family,  rarely, I would say,  as a long term, profitable investment.  I know quite a few around my way.  The only ones that 'appear' to be making money, are high (ish) end, great location, expat rich environment, such as around Mabprachan Lake in Pattaya, or beach side in Bang Saray.  Even then, I doubt they are living on any profits they make, bar maybe a couple.  They also seem to change hands remarkably often.  I would say that unless you have long experience in that industry, the chance of running a profitable restaurant business in Thailand is low indeed. 

Of course there will always be guys that rush in to "buy the dream"

 

But I've seen many successful restaurants as well

 

I've been frequenting Kamala Beach in Phuket for close to 20 years

 

And many of the same bar/restaurants have been there that long

 

 

As you said though.....a lot of times it is to give employ/money for their Thai wife/her family/mates

 

 

The advice I'd give @IsaanJeeperCreeper is to do nothing for years and learn the landscape

[Pinetree]

There is an old aviation truism that I would quote, that is relevant here:

"If you want to make a small fortune from running an airline, start off with a very big fortune".

[IsaanJeeperCreeper]

Looking into it more as a way to get a Work Permit to be able to apply for Citizenship. Wont be breaking laws or doing any shady work arounds. 

Yes I'm aware of Tea Money, I have lived in Thailand and personally have seen it firsthand.

Personally don't care about profit as my Retirement funds make me quite comfortable, my Thai family is upper Middle Class so it's not to white knight for them. Just going through the process of research. Proper Planning Prevents Poor Performance after all.

Have some basic ideas already, and just wanted to see what others have done. If I see it's not viable I'm willing to walk away from it. I'm not stubborn enough to endanger my wife and kids comfort of living just to throw money down a black hole

Also, I'm an American, so have acces to Treaty of Amity, so no worries about having to have Thai Sharholders, and not silly enough to try to purchase Land through a business entity, I would just have the wife buy the land and do a 30 year Lease

Edited September 11 by IsaanJeeperCreeper

[butterfly]

running a restaurant is not easy business, you need to love that business

if you do it as an "investment", the stress and the work will kill your happiness and you will eventually give up

if you don't have the passion for it, don't do it

the successful restaurant owners do it for their passion first and that's why they are successful second

it's not just a simple business, like any other

[butterfly]

you either fall in love with that business, or you hate it

[IsaanJeeperCreeper]

5 minutes ago, butterfly said:

running a restaurant is not easy business, you need to love that business

if you do it as an "investment", the stress and the work will kill your happiness and you will eventually give up

if you don't have the passion for it, don't do it

the successful restaurant owners do it for their passion first and that's why they are successful second

it's not just a simple business, like any other

Oh i agree 100%. Which is why I even considered it as a business. If you do something you love, you never work a day in your life. I have cooking experience, just never ran my own business for it.

Owning and Operating a Restauraunt in America is NOT cheap. I would only consider doing it in Thailand with my Pension as a startup of funds. I'm no Master Chef, but the things I can cook I do well enough other people enjoy eating it.

I've kinda taken a back seat since I married an Isaan Lady, so I stay out of her way in the Kitchen because I know what's good for me

Edited September 11 by IsaanJeeperCreeper