restaurant purchase

[thanatorn-old]

I have just returned from a short trip to Pattaya and spent time with a friend whom I have known for about a year. I give financial support (at my instigation), to this friend every month. but at a limit which will not break the bank and on the understanding that that is all he gets - the rest he supplements from his job in one of the girlie bars. If he does have a problem he knows he can call on me as long as I get the truth- e.g. I blew it all in Hollywood, and no sick buffalo stories.

He has never asked for financial aid until now, for which he has requested the sum of THB50000. (not a lot in western terms). He wants to buy a thai restaurant in the Soi Aronthai (spelling?) area for THb100000, and his friend/partner has shown proof of the other THb50000.

I am willing to give the 50000, with the view of writing off the money, I do not want a per cent or payback, except for a free drink now and again. (The pair of them have been advised that there is this payment by me, and no more). I have been to and seen the restaurant and think it does have potential for a largely Thai clientele, and it will need some repair for which I will obviously be asked to assist in. ( I will consider that at the time). I do not think they will get rich from the venture but could make enough to live on.

My question for the board members / residents is what pitfalls there may be that I can advise these guys to look out for as although I have gathered some information from them, I believe they are going into this venture with a lot of bravado and certainty to the success they will be. This is great and all that I want from their venture, but I just want to support them with things they may need to think about, rather than them come back with new problems every month or week.

I understand that my request is a bit open ended and general but would appreciate any help in making two guys add a little improvement to their life

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The biggest problem starting any business is underfunding. Remember: It takes time to develop a customer base.

They are smart to stick with what they know: Thai food.
Push (Highlight. Advertise.) the thing(s) they do best. There are restaurants that have been around for years, noted, are even famous for just one-or-two well prepared things. Some even include the name of the signature dish in the name of the restaurant: Joe's Stone Crab, Num's Dancing Noodle!

If they can start of with a free-bee, discount, come-on, a new twist...any scheme to get paying customers in the door, do it. There is, or was last time I was there, a woman in C.M. who dresses up like the painting of the Queen she has on display, to sell Thai pastries & sweets in a shopping mall. The pastries are quite good--So she can honestly say, "Fit for a Queen!"

Decor: Good, flattering, comfortable lighting. Use lots of red (Red makes people hungry). Thai are into a more sleek, sophisticated look now (For the food, too.). Don't get too back-water-village-straw-mat-rice-planting-pictures looking--That's kitchy koo for farang--And it sounds like farang won't be the boy's customer base.