Thailand

samesame657 · #1 04-03-2008, 20:04

Hi guys,

I see that the meeting place is up for sale/lease and i was wondering if any of you have ever been there before and in your wisely opinion do you think it could be a wise investment?

It was originally for sale for 1.6m and has now been dropped to 1m

Any info about this place would be appreciated.

Thanks again

SirDougless · #2 05-03-2008, 08:54

Was there in Jan. Wife & I were the only ones in the bar for a late lunch. Not sure how many were staying there.

Later that arvo I spoke to a guy who was staying there. He said the place is pretty dead these days. Possibly due to the owner being back home (UK I think). Other blokes in the shout confirmed that it is no longer 'the' place to stay/drink at in Nong Khai.

So if you buy it you will have to build up custom again. Not much goodwill for sale.

samesame657 · #3 06-03-2008, 00:58

Quote:

Originally Posted by SirDougless

Was there in Jan. Wife & I were the only ones in the bar for a late lunch. Not sure how many were staying there.

Later that arvo I spoke to a guy who was staying there. He said the place is pretty dead these days. Possibly due to the owner being back home (UK I think). Other blokes in the shout confirmed that it is no longer 'the' place to stay/drink at in Nong Khai.

So if you buy it you will have to build up custom again. Not much goodwill for sale.

Thank you for taking the time to reply to the thread....

liz · #4 27-10-2008, 15:59

hi there,

in reply to your question, yes the meeting place is still for sale as i own it. NOT the land only building.

if you wish any details on this property just send an e-mail and i can give you all the details that you request. i am not putting it up for lease again its only for sale

thanks
liz

twk · #5 28-10-2008, 05:44

I am very familiar with the meeting place and I have to recommend you stay away.
1. It is for the building only and that leaves you vulnerable to forced moving.
2. Location is well known but it lacks a reputation that you really need. Its present rep is one to over come as the previous proprietor that I am very familiar with was a jerk and egotistically inept business person. He ran it into the ground by seer lack of management.
3. You could develop a clientel for sure but it will take time and I am sure the expense of keeping it alive while you do that is quite high.
4. You could add girls like the previous tried and then you would have a draw but you would have to pay Nong Khai's finest and deal with the established organizations.
5. Nong Khai is a border town and I personally love the place but it is always in flux. Sure you have a number of farangs that will be regulars but few are decent in the respect that they are good representatives for your place. Most in Nong Khai (IMHO) are European drunks that see the town as a mini Pattaya.
6. Business in Thailand is a very adventurous thing for a farang. A US citizen can do it 100% outright but it is difficult to get started. If you need a Thai partner you are screwed right off as they have to have control. If you have to hire Thai you need to speak Thai and understand the culture in which they pretend to work.
All in all I to would like to have a business but in Nong Khai and in the bar business I would be hesitant for my part.
Do as you wish but buyer beware. It is doable but not by me.
Without the land you may walk away and leave your building to the landlord for his or her personal use.

Liz, I don't know how much you are asking but for what it is worth I hope you can get your money out of it. The place just doesn't have the location or the amenities to properly develop into a real happening place. It may do better as a hotel of shorts. I used to like the place a lot 4 years ago but it has just gone down down down since then. Everyone of the people I have talked to about the place being for sale are just not interested for the same and similar reasons I have mentioned.

liz · #6 28-10-2008, 17:21

hi twk
in reply to your comments i feel you are right in what you said. i leased the mp to a so called friend who thought it was more fun to drink his way through all the other bars in nong khai and therefore the mp went downhill very quickly. he then returned to england and left his thai girlfriend in charge who could not even get out of her bed to make customers breakfast nor even a cup of coffee.
after getting a phone call i went down one day only to find that place empty including the pool table and all doors left open. there was nothing a could do.
to build up the mp again you need a host there 24/7 who is willing to put in the hrs and not someone like me who does not even drink and loves to be a home in the evenings!!
all my staff spoke english and i had no problems with any of them and they all still work in nong khai.the lease is payable twice per year and is paid until march 2009.
the trade was mostly food and the rooms were let out 95% of the time with upstairs for backpackers and we have 2 rooms downstairs with en suites and they were booked well in advance.

thanks again for your comments and hope to speak soon
regards
liz

jungle jim · #7 11-11-2008, 20:05

Any time I was ever in the Meeting Place it was always busy, with meals and people staying there, saying that it is over 2 years since I moved from Nong Khai.
I now stay in Udon and have been thinking about moving back there again.
I have noticed that the Meeting Place is for sale with FBI in Udon and the price is now only 600,000 baht which does sound to be quite reasonable for a place that size.