I have previously posted about having a GF in Thailand… Well an opportunity has come up which would involve buying a small bar in Pattaya. It is in a fairly new complex comprising of shops and a few bars. And the bar has a couple of rooms - meaning never having to stop in a hotel again.
The cost of it is roughly £23k, a sum that I can cover by releasing some equity from my house. The GF would look after it whilst I am in the UK working.
Going back out there in 7 weeks to check it out and maybe do a deal.
I have no idea about the economics in Thailand, but if it sounds like it will work, and you want to, then go for it. £23k doesn’t sound like much to me for starting something, then again I guess they might be a bit pricier around here.
Only other thought is might be a bit tricky to get us all to a meet there
You realise you cannot actually work in the bar yourself? We have a family friend who lives out in Thailand, and he said buying one is a stupid thing to do and one of the complete ‘nono’ ideas. We have another family friend who made the mistake of buying one, he could not work in it (don’t think he realised when he bought it) and if he mentioned anything to any of the employees they’d go mental at him! His wife ran it, but they seperated and she effectively took it over and he lost the money.
I don’t know the ins and outs, but I would advise looking into it very closely before considering a purchase.
Not planning on giving up work and making a living out of it… it is more a case giving the GF a chance to make money. I would take out a partnership agreement with her, so at least I would get back some of the money if things went wrong.
Don’t want to sound pesermistic but make sure any agreement you take out with your GF is covered by both laws, here and over there.
Apart from that, good luck in whatever you decide.
Another negative type answer here, bad enough going into business with a girlfriend, let alone wife, let alone on the other side of the world.
I’m afraid that every business partnership that I have known between “lovers” has been a largely negative thing and had a negative ending, if you think about it it places a large burden on a relationship, not only does splitting up affect your emotions but your job and a large chuck of cash, yes I know thats a negative way of thinking about your relationship with your girlfriend but hey, take a straw poll and see how many agree with me.
I also know people that have brought bars abroad that they have lived in and basically they don’t make money unless they have worked bloody hard at it, long hours, little holidays and lots of graft… !
So no, I don’t think you should go for it, enjoy your relationship, don’t complicate it with business and investment
I know about the law aspect… I have actually doing quite a bit of research on the matter.
The reason why many bars fail is because people think they can make a living off the bars, I am not intending on packing in working at the moment. Not for quite a while. I want the GF to be able to make a living from it. For the moment I do not intend to take any money out of the bar.
The GF has plenty of experience in the hotel/bar industry, so she knows what she is doing.
I know I am taking a gamble, but me and the GF both want to take this step.
Well to be fair Fiend you’ve posted on this site looking for everyone to tell you its a fantastic idea and to go for it… seems a lot of people have been stung with relationships or have witnessed relationships cracking under the pressure when money and a business is involved…
Im sure we all (and if not all a large number) know how fragile relationships can be and it is at the end of the day your money…
if youve read up on this and know what your getting yourself into… and you have the money to do it… then basically go for it…
just remember if it does all end in tatters you have a place where you know your friends are!
Good luck Fiend, in whatever you decide as I think this could be a very important decision for the relationship and your own future.
After watching the UK medias reports and TV programmes on ‘Thai Brides’, it would seem to most I think that you are falling into the “get myself an Englishmen” and get him to spend money on me trap. This isn’t always a trap, I’m sure there are lots of happy relationships that are formed, but with the amount of publicity you find over here on this subject - I think most people are trying to make sure you know the both sides.
I do wish you every success, in the relationship and the possible business. It would seem you have done your research and spend most of your time here almost ‘pining for the fjords’ (oops Monty crept in;)).
It’s not the same situation I know, I think you said it all when you said “it is something we want to do” or words to that effect. For £23k try it - if it works its all good all round, if it doesn’t work out you haven’t lost the world.
To tell the truth I was expecting to get a few negative posts on here about it.
This media in this country portrays Thailand in a very negative light… Everything that is wriiten in the media portrays the place as a magnet for “sex tourism”. In this country sensationalism sell newspapers. They never print the good news.
But if you actually go out there and experience the country and the people themselves it is actually a lot different to the way the media portrays the place.
I have done a bit of homework on the venture. I have talked to bar owners out there and seen how to, and also how not to do it.
It is something I want to do because that is where I see my life heading. I am looking at redundancy within the next couple of years and I see myself looking for employment in the Gulf or SE Asia area anyway. And Thailand is as good a base as any.
And at the end of the day if it fails well at least I can say I give it a try, rather than regretting not having taken the chance.
[QUOTE=Speedo;406893]You realise you cannot actually work in the bar yourself? We have a family friend who lives out in Thailand, and he said buying one is a stupid thing to do and one of the complete ‘nono’ ideas.
We have another family friend who made the mistake of buying one, he could not work in it (don’t think he realised when he bought it) and if he mentioned anything to any of the employees they’d go mental at him! His wife ran it, but they seperated and she effectively took it over and he lost the money.
I don’t know the ins and outs, but I would advise looking into it very closely before considering a purchase.[/QUOTE]
They obviously hadn’t done their homework and jumped in with both feet. And obviously know little about thai culture.
Working in the bars - It is possible… I know some who do. You need to get the right type of visa and then it is possible to get a work permit.
[QUOTE=TheFiend(TPR);407069]They obviously hadn’t done their homework and jumped in with both feet. And obviously know little about thai culture.
Working in the bars - It is possible… I know some who do. You need to get the right type of visa and then it is possible to get a work permit.[/QUOTE]
Wouldn’t surprise me if he hadn’t, he spends most of his time out there :spit: now. It looks like you’ve done your homework, best of luck if you decide to go ahead with it :).
Where the owners spend all their time drinking then any money the bar makes goes down the toilet.
On my last trip I watched one owner sink 20 bottles of San Mig Lite whilst I sat in his bar and i only drunk 8 bottles of Singha… I was the only customer at the bar. The profit he made on my 8 bottles wasn’t enough to pay for the 20 he drank. And he drinks the same amount every night.
I know some bars where the owner hasn’t given up work, and those bars are flourishing.
I am involved in a family business, so know the hard work needed to be put in to make a success of it. In 10 years my brother has become the second largest coach operator in the area, while other long established operators have failed. He has achieved this by his determination to succeed, and be able to adapt.
My GF has the same determination.
I know it is a gamble, but it is a gamble I am willing to take, and it a gamble I want to take.
Like others have said you have obviously done your homework,
if you know you can take that money and do as you want with it without getting hurt in anyway then fine,
and you alreaddy said this bar is for her while you work in your current job,
so you are not investing for yourself but someone elses future.
so if things go down the pan then its all her’s and you will just have to walk away with that.
altho if it all works out then great,
so either way if you have thought about it go for it.
And all the best of luck for the future m8:)
Well, the budget me and the GF were working to was £23k. Well, she has widened the search from the original target and at the moment she is negotiating over a bar that will cost roundabout £13K.
[QUOTE=TheFiend(TPR);407048]
And at the end of the day if it fails well at least I can say I give it a try, rather than regretting not having taken the chance.[/QUOTE]
Very true, I hear so many people saying “what if” or “I should have…”
I absolutely think you should give it a go, you are not stupid and have looked into things.
Live your life moving forwards all the time if possible, opportunity is there but so many people seem to fear it.
