What is good business to start or to buy int post cover-19

[JohnBZ]

Hello everything.  Would appreciate your input on a business to get into after the corona virus?

 

Tourism is down and may not be up for a couple of years.  A lot of business areas are reserved for Thais. What biz is something good for foreigners to venture into?  Investing in stock market or rental property is a bit too passive.  It is important to do something here rather than just sitting on your butt and do nothing.  Then the hard part is what to do.  Nobody wants to work hard on something and lose money.  Having low rate of return is ok but not negative.

 

Thanks.

[Matzzon]

Anything that has a connection to Internet and online business. Just out of the reason more people are going to chose that way to conduct their business and shopping.

Also a combination of starting Internet business and have Thai producers standing for the products you sell, might give you a price edge as they are very dire need of more sales.

What products and how to build it, I will leave in your hands. You can´t get it all for free. ???? 

However, I tip on the way. As you´re going to have to use domestic or international carriers to deliver your products. Think value and size as well as weight and customs.

[1FinickyOne]

22 minutes ago, JohnBZ said:

 Having low rate of return is ok but not negative.

Atta boy, shoot for the floor... 

 

Since you are not that concerned about $$ - your greatest success will come in doing something you enjoy... where is your passion? 

[carlyai]

Can't go wrong with a Pattaya beer bar.

[JohnBZ]

2 hours ago, Matzzon said:

Anything that has a connection to Internet and online business. Just out of the reason more people are going to chose that way to conduct their business and shopping.

Also a combination of starting Internet business and have Thai producers standing for the products you sell, might give you a price edge as they are very dire need of more sales.

What products and how to build it, I will leave in your hands. You can´t get it all for free. ???? 

However, I tip on the way. As you´re going to have to use domestic or international carriers to deliver your products. Think value and size as well as weight and customs.

I think you are right.  Online business model is more superior.  Maybe we can start a platform selling Thai farm products to oversea buyers. thanks.

[Kwasaki]

8 hours ago, JohnBZ said:

Having low rate of return is ok but not negative.

A falang starting business in Thailand is possible but as said online.

[bwpage3]

If it was easy to start a business and succeed every one and their brother would be doing it.

 

Post CV, there are a lot more broke people than ever before.

 

Online business model? To start an online business and have your website found is something that takes a lot of time and some are never discovered despite all the advertising in the world.

 

One poster had it right. Shipping costs kill.

 

You need to set a goal how much you want to make, figure out how many customers it will take to reach that goal and see if it is even feasible to get that many customers.

 

It will be a long time before most will buy anything other than basic necessities to survive like food and medicine.

 

 

[Puchaiyank]

A home massage kit.  Include a free sex-toy for self-administered happy ending...????

[Kinnock]

I met a seriously rich guy a few years ago who said his strategy was to get into businesses everyone else is getting out of.

 

His theory was that going against the trend and getting into a 'sunset' business means you can buy businesses and equipment cheap, and there will have been good business model originally, so with everyone else jumping ship, demand will rise.  He also said that with trendy 'sunrise' businesses, entry prices rise and competition is tough as it's the current thing everybody is getting into.

 

So perhaps it is time to open a bar, massage shop, or start an airline?  ????

[jaideecm]

Hello John,

Starting a new business is tough going. Best to purchase a well established internet business with at least 10 years of contacts, emails and internet presents.

 

After the fears of Covid-19 die down people will be traveling again however things will not be the same for travelers. The days of large group tours will be the thing of the past. The health of the traveler will be in the top of their list for safe travel. For this reason private custom tours and experiences away from the normal tourist crowds will be the norm.

 

Since the H1N1 virus scare in 2009 some tour operators have completely changed the way they operate. They have changed from the large cheap group tours in large groups to small private tours for couples and families with great success. Quality, health safety and personal attention to the needs of the clients as a first priority over quantity attract those who travel often and have more expendable income.

 

Tour companies in Thailand are closing at a fast pace. This opens the door for for an internet operator who knows about the upscale tour market to have great success.

 

I have written several blogs about internet travel operators opportunities during this time of the Covid-19 problem that are published by travel magazines on line.

 

You can contact me for more information if you wish.

 

Kind regards  

[FinickyFarang]

I think you’ve gotten some solid advice here which I want to highlight before offering my thoughts.  
 

@bwpage3 Great advice on the difference between having something people want and people being able to find you on the internet.  

@Matzzon Shipping costs, overseas logistics can turn a good idea into a nightmare.  

 

@Kinnock Like Warren Buffett says, “Be fearful when others are greedy, and be greedy when others are fearful.”   If you have a long enough timeline, snatching up established businesses might be a good strategy.  They’ve already done the hard work of proving the business model.  
 

Just because the business model might take 2 or 3 years to be profitable again is just a matter of time if you have the capital to wait things out.  As an example, one might buy a tourism-related business and spend this slow period working on marketing/SEO, improving the offering, etc.  

 

Personally, I would stay away from beer bars, just because the market was already grossly oversaturated even before Corona.  But a boutique hotel/hostel might be bought for a bargain price right now.  Spend a couple of years making renovations, marketing, SEO, etc, and you could end up with a business that is very profitable when the tourists return in numbers pre-Corona.  

 

I would also look at service businesses.  Do you have or would be willing to acquire a skill or are able to provide a service that you could sell?   
 

Play guitar?  Maybe you can give lessons to farangs here in Thailand.  Both via Skype and one on one.  
 

Just as an exercise, maybe you can jot down things or conveniences that you had back home that are hard to obtain here.  
 

For instance, we have two dogs, and I’ve found that getting top-quality dog products nearly impossible here.  Training collars, quality leashes, etc.  In fact, I was visiting a friend who has a dog the other day and as soon as I spotted the collar on his dog, I was like, “Where did you get that collar?   I’ve been looking all over for a nice collar like that.”   His answer was Petco in the US.  LOL.  

Or just look here on the TV forums for people asking, “Where can I get ...?”   If the best advice is to import it from overseas, maybe there’s a market here for that.  

 

[kingdong]

19 hours ago, carlyai said:

Can't go wrong with a Pattaya beer bar.

Or a share in a gogo bar.

[kingdong]

One thing pattaya lacks is a sunbed lounge.

[sanuk711]

Gosh you have come to the right place because Thailand is full of old age pension entrepreneurs, Just grab a bar stool and come sit down beside me , I will tell you the story of ..."I Could of"...........and ......I'm Genna " ............................

[kingdong]

10 minutes ago, sanuk711 said:

Gosh you have come to the right place because Thailand is full of old age pension entrepreneurs, Just grab a bar stool and come sit down beside me , I will tell you the story of ..."I Could of"...........and ......I'm Genna " ............................

,i,m genna? likely to end up with a sore <deleted> if you frequent those types of establishments.

[seancbk]

My advice would be don't go into something just because it looks like fun, or because you think you could do better; without having some real knowledge of how the business works.  A great example if this is opening a bar or restaurant without prior experience working in and running one.  Just because a person has spent years drinking in bars or eating in restaurants does not qualify them for running one (unless they just want a hobby that eats their money with no return). 

E-commerce businesses will do well, although the barriers to entry mean you will face increasing competition and again, don't go into this unless you really know the product you are selling, have a solid reliable supply chain and you have someone who can help with the setup etc.    We run a couple of shops on Lazada that make a few hundred thousand baht a month. 

The question is what business experience do you already have?  Is there something you are knowledgeable in that you could turn into a business here?   The other question is why would you want to work if you don't have to?

[Peterw42]

Some people will make an absolute killing post Covid.

Most successful businesses and investors are successful because they have taken the huge risks and bought when everyone else is selling, opened when everyone else is closing. 

You dont have a successful business or get rich setting up the 5th beer bar in the soi, you get rich buying (or starting) the last remaining beer bar in the soi after the 4 competitors have shut down.  You buy the beer bar now, without any customers or trade, the day the customers return they have to go to your bar.

The old adage, "buy low sell high" sound simplistic and easy but in reality its often the hardest thing to do.

The same principles apply to the stock market at the moment, if you have the balls to buy your favorite stock when its in freefall, you will make more than buying it at its peak when everyone was buying it.

 

[JohnBZ]

1 hour ago, jaideecm said:

Hello John,

Starting a new business is tough going. Best to purchase a well established internet business with at least 10 years of contacts, emails and internet presents.

 

After the fears of Covid-19 die down people will be traveling again however things will not be the same for travelers. The days of large group tours will be the thing of the past. The health of the traveler will be in the top of their list for safe travel. For this reason private custom tours and experiences away from the normal tourist crowds will be the norm.

 

Since the H1N1 virus scare in 2009 some tour operators have completely changed the way they operate. They have changed from the large cheap group tours in large groups to small private tours for couples and families with great success. Quality, health safety and personal attention to the needs of the clients as a first priority over quantity attract those who travel often and have more expendable income.

 

Tour companies in Thailand are closing at a fast pace. This opens the door for for an internet operator who knows about the upscale tour market to have great success.

 

I have written several blogs about internet travel operators opportunities during this time of the Covid-19 problem that are published by travel magazines on line.

 

You can contact me for more information if you wish.

 

Kind regards  

Thanks a lot for your reply.  Please send me more info.

[saminoz]

21 hours ago, Matzzon said:

Anything that has a connection to Internet and online business. Just out of the reason more people are going to chose that way to conduct their business and shopping.

Also a combination of starting Internet business and have Thai producers standing for the products you sell, might give you a price edge as they are very dire need of more sales.

What products and how to build it, I will leave in your hands. You can´t get it all for free. ???? 

However, I tip on the way. As you´re going to have to use domestic or international carriers to deliver your products. Think value and size as well as weight and customs.

 

21 hours ago, Matzzon said:

Anything that has a connection to Internet and online business. Just out of the reason more people are going to chose that way to conduct their business and shopping.

Also a combination of starting Internet business and have Thai producers standing for the products you sell, might give you a price edge as they are very dire need of more sales.

What products and how to build it, I will leave in your hands. You can´t get it all for free. ???? 

However, I tip on the way. As you´re going to have to use domestic or international carriers to deliver your products. Think value and size as well as weight and customs.

Matzzon is quite right, I am looking at something in this area that I was succesful with in Africa.  PM me.

[JohnBZ]

46 minutes ago, seancbk said:

My advice would be don't go into something just because it looks like fun, or because you think you could do better; without having some real knowledge of how the business works.  A great example if this is opening a bar or restaurant without prior experience working in and running one.  Just because a person has spent years drinking in bars or eating in restaurants does not qualify them for running one (unless they just want a hobby that eats their money with no return). 

E-commerce businesses will do well, although the barriers to entry mean you will face increasing competition and again, don't go into this unless you really know the product you are selling, have a solid reliable supply chain and you have someone who can help with the setup etc.    We run a couple of shops on Lazada that make a few hundred thousand baht a month. 

The question is what business experience do you already have?  Is there something you are knowledgeable in that you could turn into a business here?   The other question is why would you want to work if you don't have to?

very good advice.  Let me gather some thoughts.  I have real experience running cram school/English, math training centers in China,  where is transfer to Thailand except I don't speak Thai or have a Thai wife.  Is that something I really love to do: I am not sure about that.  Is that a money making business: yes.  

 

I have high tech and electronics experience from process engineering all the way up to VP senior management.  Never made any money starting a high tech/electronics biz though.

 

I want to work because I still have a lot of energy physically and mentally.  I do not want to be confined to a home as that will make me feel miserable.

 

I will add you and chat more if that is OK with you.

 

Warm regards

[IamNoone88]

There might not be an immediate end to this Covid period. Just a false finish and another hard start. As a business person you should at all risks and outcomes. I would not invest further as this is a period of extreme uncertainty.

[Bender Rodriguez]

corona shows one thing : many business are just a waste of space & time because people have too much money to spend on expensive white skin, hair & nail salons, weight loss, ...

 

those types are useless in a zombie apocalypse... back to the basics ...

[JohnBZ]

38 minutes ago, Peterw42 said:

Some people will make an absolute killing post Covid.

Most successful businesses and investors are successful because they have taken the huge risks and bought when everyone else is selling, opened when everyone else is closing. 

You dont have a successful business or get rich setting up the 5th beer bar in the soi, you get rich buying (or starting) the last remaining beer bar in the soi after the 4 competitors have shut down.  You buy the beer bar now, without any customers or trade, the day the customers return they have to go to your bar.

The old adage, "buy low sell high" sound simplistic and easy but in reality its often the hardest thing to do.

The same principles apply to the stock market at the moment, if you have the balls to buy your favorite stock when its in freefall, you will make more than buying it at its peak when everyone was buying it.

 

Very good advice for the stock market. Buy low and sell high.  Value investing: buy at a price below value and sell at a price that is exceeding intrinsic value.

 

But for real business, there is a holding cost.  If you have negative cash flow, you have to pump money into the business when the prospect is bad.  That is more painful.  At the same time, you have to deal with everyone when most are at pain and fearful.  There are the problem I have buying into real business at bad times.

 

I am a stock investor and have no problem buying when the market is in peril.  But in real life biz, that is tougher and I am more fearful

[DaLa]

I will post my own business success story for you.  I came out here 10 years ago and my wife had a well paid job with a Chinese company.  She wanted to leave and start her own business and had a few ideas that I patiently listened to.  I was a little sceptical due to my lack of knowledge and language skills in Thailand. However we ventured on and after a few up's and downs and 10 years of hard work including sleeping on the concrete shop floor for 2 years she now has a very successful import business.  Her turnover averages 15 million and her net worth is in the order of 50 million baht.

 

So she is technically a UK millionaire.  I started with 2 million GBP and now down to 300k.

[cmrichsw]

2 hours ago, kingdong said:

One thing pattaya lacks is a sunbed lounge.

Yes you could offer a orange tan like tweety trumpee has

Edited May 27, 2020 by cmrichsw

[Grumpy one]

Start up a porn film studio.

There are plenty of out of work ladies who have previous experience  

[carlyai]

2 hours ago, kingdong said:

Or a share in a gogo bar.

Specially if you rent the property and don't own it.

[cmrichsw]

Now that the Thai borders are opening exporting Bar girls back to there villages would be a good job for a while.

[NotYourBusiness]

Contact tracing ap and data mining of it.

[JohnBZ]

14 minutes ago, DaLa said:

I will post my own business success story for you.  I came out here 10 years ago and my wife had a well paid job with a Chinese company.  She wanted to leave and start her own business and had a few ideas that I patiently listened to.  I was a little sceptical due to my lack of knowledge and language skills in Thailand. However we ventured on and after a few up's and downs and 10 years of hard work including sleeping on the concrete shop floor for 2 years she now has a very successful import business.  Her turnover averages 15 million and her net worth is in the order of 50 million baht.

 

So she is technically a UK millionaire.  I started with 2 million GBP and now down to 300k.

I studied in the UK for 3 years before.  Have fond memory of England.  Like to hear more of your story over a beer.  I also have a hard driven Chinese wife:)

 

I will send you a message to link.

 

Cheers