Jump to content
BANGKOK
JohnBZ

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

Recommended Posts

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?

Share this post


Link to post
Share on other sites

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.

 

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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 ...

  • Like 2

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites
Posted (edited)
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 by cmrichsw
  • Haha 1

Share this post


Link to post
Share on other sites

Start up a porn film studio.

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

  • Like 1

Share this post


Link to post
Share on other sites
2 hours ago, kingdong said:

Or a share in a gogo bar.

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...