How Much Is Needed In Opening A Bar....??

[camperboy]

How much capital would one need if one wants to venture into the gogo bar/sauna business in Thailand...? Competition will be stiff I bet.

:bounce: :bounce:

But I think it would be nice to open one in Thailand.... :clown: :clown: :clown:

How much capital would one need if one wants to venture into the gogo bar/sauna business in Thailand...? Competition will be stiff I bet. ....

Competition won't be so stiff after this coming "High Season". :vis:

Just in case the latest action in the Stock Markets hasn't been exiting enough for you you can check out SunbeltAsia for some business listings.

Link: [www.sunbeltasia.com/ (http://www.sunbeltasia.com/)

Looks like $20,000 minimum.

You can loose your money pretty fast in the bar business if you don't know what you're doing.

[camperboy]

How much capital would one need if one wants to venture into the gogo bar/sauna business in Thailand...? Competition will be stiff I bet. ....

Competition won't be so stiff after this coming "High Season". :vis:

Just in case the latest action in the Stock Markets hasn't been exiting enough for you you can check out SunbeltAsia for some business listings.

Link: [www.sunbeltasia.com/ (http://www.sunbeltasia.com/)

Looks like $20,000 minimum.

You can loose your money pretty fast in the bar business if you don't know what you're doing.

Guess you also need to be "somebody" for people to come streaming in...But im sure with good marketing, all will go well...

Guess you also need to be "somebody" for people to come streaming in...But im sure with good marketing, all will go well...Ask George for his experiences

[Patexpat]

I have seen far more guys loose badly in the bar and restaurant business than actually make money, or even break even.

Unless you have a LOT of experience of Thailand - and I mean YEARS then don't do it - and then only with a good business plan and some sort of differentiator.

[Aunty]

I don't think the issue is how much money you need to open a bar, camperboy, that's the easy part, it's how much money you need to keep it open. Now that's the issue. Perhaps you could ask Bradley for a loan. At a $50 donation, he's a big spender! Bwhahahahahahhaha :cheers:

[lonelywombat]

[quote="camperboy"]How much capital would one need if one wants to venture into the gogo bar/sauna business in Thailand...? Competition will be stiff I bet.
But I think it would be nice to open one in Thailand./quote]

If you have to ask , you cannot afford it.

How much capital would one need if one wants to venture into the gogo bar/sauna business in Thailand...?

It's not how much will you need, it's how much can you afford to lose.

It would be interesting to hear about the one's that actually made a profit (except for the crooks of course, no names mentioned ) as I wouldn't think there were/are that many around!

[Beachlover]

Unless you're really keen and committed to run one for the fun of it, I wouldn't.

Too many external and internal variables to worry about... political environment is a major risk. One whimsical decision could see your entire investment wiped out. One underestimated variable could see you struggling with serious challenges (eg. what do you do when all the boys who turn up aren't good looking... or when no boys want to work for you?). Economic environment by itself could be fatal.

Managing the business will be tough. We're not talking about a well-established business with a great profile and smooth day to day operation model (like My Way in Phuket) that's easy to manage. It'll be a new operation that needs massive ramping on all fronts (advertising and promotions, staffing, venue fit out and readiness, show production, security) and everything started from scratch, every supplier, every role, every function and every new staff recruited. I hope you're keen to work like mad.

If you've 50k you don't care about losing, try it. If not stay away

[camperboy]

ok ok...i wont open any businesses in thailand...

One million baht seems to be the price to rehab and furnish a bar to open. But only open one if you can afford to lose the money and won't have to depend on it for an income. If your looking for something to keep you busy as in a hobby than fine and you may be able to break even but seldom is there a profit. Most rely on high season to carry them thru the low season. This year may not be a high season and I am sure some will go down.

Read these threads for long enough & you realise there is quite a high turnover of bar owners.
So I guess you would either need to be really good at it or have plenty of capital to lose. I'm all for wealthy "Roman Abramovic" types investing in hobby businesses not for profit.

If you want to make money, it's probably easier investing in something undesirable like an undertaking business. I believe this is one of the principles followed by Peter Lynch, when running one of the most successful funds ever in the US for Fidelity.

Still, what do I know? Over 40 & still working for a living.

[Beachlover]

true... there is a high turnover of bar owners. But that may be because that kind of business doesn't attract the most savvy business people.

(No offence to any bar owners here... I'm not saying bar owners aren't savvy... I'm just saying not ALL bar owners are savvy).

So with that theory... if you were quite savvy and were prepared to work hard, you could probably be quite successful competing with all these less-savvy bar owners. And it's probably true... there are some successful bars, which market themselves well and do well. Others don't.

So if you do it... do it well, otherwise you'll be struggling.

[lonelywombat]

ok ok...i wont open any businesses in thailand...

It would be an interesting excercise for you to do a search on this forum on The Birdcage, an expensive fit out but due to unforseen circumstances did not get off the ground

You may have more money than most and might be able to carry a loss making bar for a year or two to build up.
If Birdcage is still intact waiting for a buyer , well worth a look.

You could get more info from the owner if you PM your interest.

In the meantime what is happening and has happened to Birdcage.

Guess you also need to be "somebody" for people to come streaming in...But im sure with good marketing, all will go well...Ask George for his experiences

Hi camperboy, I bet you are really pleased you made the decision to ask this question of yours here on the forum, aren't you? I mean to say, all these worldly pearls of wisdom you have been offered by all of the above members, that have such a vast amount of experience between them of running bars in Thailand. Aren't you the lucky one http://i281.photobucket.com/albums/kk216/ThaiRakThai/whistling.gif

If I were you, I wouldn't pay the slightest bit of attention to any of the above comments. As someone that has owned four bars in my time here in Thailand, in different parts of the country, I can assure you that contrary to what others here may have you believe, there is a small fortune to be made as a bar owner in Thailand. Well providing that is of course, that you start out with a very large one. ;)

All joking aside, there have been some very valid comments made in the replies of some of the members here in this thread, no more so than Aunty's when he said more or less, that it is absolutely essential after purchasing a bar, that you make sure you have enough finances behind you as working capitol for the business, after that purchase has been made.

That last statement may seem like common sense to you and probably would to most people, but you would be amazed at how many people I know personally, that have ventured into the world of becoming a bar owner here in Thailand, without the working capital necessary, to make sure that the bar is able to function after their initial purchase and to give them the time that will be needed, to put whatever plans they have for the bar into practice.

Rather than going into any more detail here camperboy, if you are really serious about wishing to open a bar here, pm me and I will do my very best to answer honestly, any questions that you may have on the subject.


Cheers,


George.

Guess you also need to be "somebody" for people to come streaming in...But im sure with good marketing, all will go well...Ask George for his experiencesRather than going into any more detail here camperboy, if you are really serious about wishing to open a bar here, pm me and I will do my very best to answer honestly, any questions that you may have on the subject.And there'll be free drink for me on opening night for making the most helpful suggestion :drunken:

I promise not to bring Doris

[Beachlover]

Guess you also need to be "somebody" for people to come streaming in...But im sure with good marketing, all will go well...Ask George for his experiencesRather than going into any more detail here camperboy, if you are really serious about wishing to open a bar here, pm me and I will do my very best to answer honestly, any questions that you may have on the subject.And there'll be free drink for me on opening night for making the most helpful suggestion :drunken:

I promise not to bring Doris

Goodness... trying to win the next erection already.

Goodness... trying to win the next erection already.I thought it was only Americans on whom irony is wasted

It's pretty much an open secret that when Lee offered the previous owners a sum of money to purchase Telephone Bar, one of them was prepared to accept the offer as fair and reasonable; the other said "Bugger him, let's ask for double that!". And Lee meekly paid up. His inimitable style then pissed off many of the Bangkok ex-pats who had been a mainstay of the bar and his takings fell in a heap. Opening/buying a bar can be very damaging to your financial health

[Marsilius]

His inimitable style then pissed off many of the Bangkok ex-pats...

For those of us not privy to the story - and anxious, should we ever buy a bar, to avoid the mistakes of others - please elaborate on the details of the "inimiitable style" so that we can ensure that we do not replicate it.

In February this year I was offered half share in a well established boy bar...2.1 mil Bht.
I thought about it then dismissed the idea.
I even examined the books, well the ones they showed me anyway!