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#1
11-07-2004, 02:34
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Any bars for sale?
Hi!
I just wounder if any of you people that live in Los know of any bars for sale. I know there always are bars for sale, but what Im asking for is bars in good locations. Ive had this dream for some years now, but I havent got the time and money to realise my dream until now. Dirty Mike is probably going to join me, and we are looking for a bar not to far from Soi Bangla. It might as well be in soi crocodile as any other soi... We are looking for a small bar that dont cost to much. We can buy it cash, or we can rent it for a year or more......We are open to everything.... Hopefully some of you know of any bars we can take a look at.  Thanks Geir 
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#2
11-07-2004, 04:25
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Dont cost too much, pretty much all bars cost a lot these days. I am surprised the prices are getting higher every year althought the customer base is almost same or less than 4 years ago.
Expect to pay about 500,000 baht a year for a Soi Bangla bar. In Karon you can get a bar for 100,000 baht a year but it is also dead in low season. The latter is also true for Koh Kamui bars.
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#3
11-07-2004, 05:08
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__________________
Always play to win!
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#4
11-07-2004, 05:18
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I talk about key money, rent is an additional fee.
Last time Soi Crocodile renewed their contracts the lease was 1,5 million for 3 years. When Soi Easy started 4+ years ago the key money was 1,450 million for the smallest bars (and 2-3-4 million for the bigger ones). I think Soi Gonzo was around 900,000 - 1 million last time they had to renew. This is the real contract, the selling price is a different matter and can be whatever the seller/owner ask for. The selling price is often higher than the real leasing contract price. Quote:
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#5
11-07-2004, 13:22
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We have decided to sell our bar beer "G-Spot" in Soi Sea Dragon. It has just been recently totally gutted and rebuilt inside, electrics and all. We are about to open a pool/sports bar on the second floor above Playschool, and now my wife and I are thinking that the 2 bars will be enough for us to look after.
I am looking at B1.5m, but am negotiable. The lease is due at the end of year, and is anticipated to be B700,000 for 3 years. If you want to talk seriously about this then PM me. Steve
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#6
11-07-2004, 13:29
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The bar we used to own in Chaweng in Soi Green Mango used to rent for B100,000 per year. I have recently been told that it has jumped to B450,000 per year. No one could make it work for that.
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#7
11-07-2004, 13:40
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The Thai landlord Quote:
Basically thin air, if you get my drift. Quote:
You are buying the right to run it from the current lease holder. You take over the lease and rental arrangements with the Thai landlord. One tip, when you buy a bar, to cover yourself, if you can you should change the name. That way if there are any outstanding arrears to any government agencies, then you are not liable.
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#8
11-07-2004, 13:46
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It is a takeover fee. The property or land owner set the price for the lease.
Steve, sounds great with a sports lounge on second floor of Playschool. Quote:
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#9
11-07-2004, 13:56
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Yea, pool tables delivered today, will probably open next Friday. Will be interesting to see how it goes, but at least we wont be giving money away to someone else to play pool.
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#10
11-07-2004, 14:49
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If you are looking at buying a bar we are talking say 1.5 mil for the key money (goodwill) then the lease for 3 years is this payable in installments. Then isn't there like a charge which all the bars in the soi have to pay for music, up keep of the soi etc. Is this all the overheads + power of course which is separately metered. So what's the story with foreign ownership re: thai law and taxes which I presume have to be paid. Sorry about all the questions but this is all new to me.
__________________
Always play to win!
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#11
11-07-2004, 15:22
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Hi River, No probs about the questions. We're all new to something at some stage. The B1.5m (negotible) is payable to me to takeover the operation of the bar. There is the monthly rental fee B13K, which includes water, electric and common DJ fees, payable to the Thai owner beginning of every month. At the end of this year, the lease on the bar is up (this is the key money). Last time it was renewed it was B500K for 3 years, but we are anticpating B700K for 3 years this time arround. You pay VAT every month, which is based on sales. You will need a Thai name for the licenses. If your interested, we could come to some management arrangement, but let's go to PM for this not in the open forum. Steve
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#13
11-07-2004, 17:17
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Thanks for the information.
To Steve: I have to discuss this with dirty mike, but I think mybe its better to go for a cheeper bar for the first year. Mybe look for someting in Karon or in Soi seapearl. Then at least we dont loose to much money if we decide to finish and go home. We will also base it on that we go home for some months during the lowseason for work. Steve, Do you think B1,5m is a regular price for a bar in your area? I have some friends having bars in soi seapearl, but they tell me its very quiet over there. But I think I can buy a bar there for about 300000bath including rent for one year. Then we have to pay about 20000 to the landlord every month for land, water, electricity etc. Do you think this is a good price, or is it better to spend more money and buy a bar in a more buissy area? Thank you for all the answeres.
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#14
11-07-2004, 17:38
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Geir,
Obviously you must view my responses subjectively, but I would never intentionally give a BM a bum steer. You must be realistic, in that you will never support 2 farangs off the income from a bar beer. If your not relying on it as your sole source of income, then its just the fun factor, go for it. I believe that you will have problems getting 2 work permits for a bar beer, but do you really want them?? As far as Soi Sea Dragon goes, I know that other bar beers are/have been on the market for much more than B1.5m, and as for other areas like Soi Seapearl, I'm not in a position to offer any advice as I'm not familiar with the area, have never been there. You must remember that your licenses need to be in a Thai name, so you will need a Thai that you trust to assist you there, or you can start a company, where you need even more Thai's to act as directors and potentially more problems for you. It's the same as anything, you get what you pay for, obviously the busy soi's are off Bangla so to get in will cost you more. Think long and hard about it before jumping in, and you should seek independent legal advice before hand.
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#15
11-07-2004, 18:58
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Geir I personnally wouldnt consider anywhere other than Tiger, Crocodile or Eric for a small beer bar You may be able to rent a bar in Tiger without buying a contract, about 45-50,000 baht per month, including service charges There are many issues you should consider Have you got Thai friends you can trust? Licencing arrangements Where you will get and keep you labour force, possible issue if you dont have contacts in Isaan??? Good to see BM's who have business in Patong so helpful. You can PM me too if you want to know more Dont expect to make a fortune, but with the right bar, enough to get buy comfortably and the best enjoyment money can buy cheers G
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#16
11-07-2004, 19:00
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One of my friends in Norway is married to a tg, so Im going to buy it in her name. I have thai-girlfriend now, but you never know how long its going to last if we move to patong. So I wount trust her enough to buy the bar in her name. And yes, we are planing this for the fun, and the chance to extend our stay in Los from 1 month a year to mybe 6. I know its not the same as beeing there on a holliday, but Ive got alot of information from my friends in soi seapearl and hopefully I know what Im going to. Thanks for the advice.
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#17
11-07-2004, 19:10
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Sounds like a good idea to just rent a bar, at least in the start until we know how everything works out.
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#18
11-07-2004, 19:12
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HI GEIR.......
WITH YOU AND MIKEE......... WELL WHAT DO WE EXPECT? GO GO GIRLS, BAR GIRLS OR LBs TO SERVE UR OUR BEER? JONNY BEST OF LUCK WITH YOUR DREAM................AND IVE STILL NOT GONE TO THE DARKSIDE...............
__________________
one life.......live it.......tomorrow never comes......
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#19
11-07-2004, 19:56
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Hi,
I know of a few places on the market.. Theres rumour of a bangla fronted bar (but expect key money in the 4 - 6 million after haggling for 3 years however these bars can and do make big money if you get the combination right (look at the Roo).. I also know of some bars in Soi Easy that can be had for no key money down just rental costs (dont know if thats a geneeral offer but one made to me through its current management).. Soi Easy is pretty quiet at the moment but it gives you a chance to get operational, make some contacts, get some reliable girls, genrally get yourself orgainsed before high season push.. All you would be losing is time and rental. From the sound of what you want to do (low risk, low outlay, test the water) I think you will have a tough time finding something that does not have substantial key money and purchase price is a popular area. So you can either risk more initial outlay for a bar that is likely to actually pay its way or put your feet in the water with a situation like the above and subsidize your stay.
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#20
12-07-2004, 00:04
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I think we will have something for everyone, except for those who like small thaimen in white numbered uderpens  Mybe you can enter the darkside in our future bar.  To LivinLos: I have sent you a pm about soi easy.
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#21
12-07-2004, 00:05
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Bars
One factor people forget when going into the bar business is that you have to spend your evenings in your own bar. If your bar is empty or quiet like alot of them are most of the time, it is incredibly boring.
If you turn your back for too long you need to be careful of your staff and the whole place not going totally down the toilet. If you really want to do something that allows you to have the nightlife you want then you can also consider the Internet Cafe game, restaurants etc etc
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#22
12-07-2004, 00:20
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#23
12-07-2004, 00:43
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Dont go into it if you wanna make money its a tough game and volatile unless you have one of the handful of prime spots. |