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JohnBZ

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

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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.

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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.

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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? 

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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.

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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.

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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.

 

 

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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  

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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.  

 

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19 hours ago, carlyai said:

Can't go wrong with a Pattaya beer bar.

Or a share in a gogo bar.

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One thing pattaya lacks is a sunbed lounge.

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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 " ............................:coffee1:

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

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