 |
|
|
#1
17-07-2005, 21:54
|
||||
|
||||
|
Cost of setting up a bar?
As a rough idea, how much would it cost to set up a bar in Phuket?
Without breaking down all the details I'm just after a ball park figure... 
|
| Guest Info |
|
+:+:+ Forum Headquarter +:+:+ |
|
#2
17-07-2005, 22:16
|
||||
|
||||
|
Quote:
Well thats an extremely large ball park. Seeing as you have stated Phuket, and not been more specific like Patong, then if you look at Kata/Karon bar beers can be brought in the mid 100'sK. On top of actual purchase prices, you have: * new signage for change of name, (always recommended) * license fees * lease changeover * extras not included in purchase price, such as stock etc. * deposits for liquor purchases If you something more specific then please specify. Steve
|
|
#3
17-07-2005, 23:13
|
||||
|
||||
|
Quote:
Right now, it's no more than a crazy what-if pipe dream because I see my job disappearing in 5 or so years. Mid 100ks? I'm guessing thats us dollars? So my question is what sort of money do have before I even start thinking about it?
|
|
#4
18-07-2005, 00:36
|
||||
|
||||
|
Quote:
No I talk Thai baht. Some bars can be brought quiet cheaply at the moment as owners are looking at a quick out based on the current situation here. Like in Soi Lion, it looks like most bars are up for sale. In Soi SeaDragon there are numerous bars available, as are all along Bangla and the sois. Bars off Bangla in Patong which is where anyone buying would ideally want as thats where most of the pedestrian traffic is, start from a basic bar beer from around B1m up to B3m. This is the buyout amount to the current owner and includes the remaining period on the lease, or as some people call it, key money. Agogo's are available on the market from B1.5m and up to B5m. The gazette is always a good source of whats available www.phuketgazette.net The main thing you need to take into account is th amount of time remaining on the current lease. Recently alot of landlords are giving owners 12 months leases, the norm is 3 to 5 years. To show exactly whats involved, I'll use my old bar beer in Soi SeaDragon as an example. The 3 year lease was B800k, monthly rental was B15k which includes water,power and DJ. So before you even start on anything else, you are already paying out B37,222 per month just to the landlord. And this is amongst the cheapest lease/contract combinations going. There are now several places offerring no keymoney from what I heard, but you have to understand, you dont get anything for nothing, there is probably always a catch somewhere. If you are going to buy something here and you have some other source of regular income, like a service pension, then you could quite easily get by on just B2m as a startup capital. Otherwise you should really be looking at considerably larger amounts to ensure you get by during the slow months, which do out number the busy months. Now the main stumbling block, is the issue of licenses. These must in a Thai name or a company name. Registering a company and trading through it, increases your monthly outgoing considerably, like in taxes. Hope this helps.
|
|
#6
19-07-2005, 00:00
|
||||
|
||||
|
Quote:
Ta, Now, if I ever do something about this it would involve a Thai partner, now I do have someone in mind but while I trust her for the length of time I've known her, I'll have to get to know her a lot better to even think about doing something along these lines.
|
|
#7
19-07-2005, 09:12
|
||||
|
||||
|
By adding asstets into the mix it can often change the dynamic of a relationship even one that has been tested so far..
I would always have sleeping partners and a Thai company.. Keep your own assets and be as generous with them as YOU wish..
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
|
|
#9
19-07-2005, 20:09
|
||||
|
||||
|
I have been in 2 previous partnerships in bars, both with farangs, and based on those experiences, I will never ever enter into a partnership with anyone ever again. Doesnt matter how well you know the other party or great friends you are, once money and a business comes into the equation, things tend to go south, over the smallest of things.
|
|
#10
21-07-2005, 04:49
|
||||
|
||||
|
Quote:
Now I'm a long way off any kind of pension, but at current rates I could probably get 400-500GBP a month income (once the damn mortgage is paid off) I'm guessing I could at least survive on that without worrying about earning an income in LOS??
|
|
#11
21-07-2005, 11:18
|
||||
|
||||
|
Survive yes.. Live a nice quiet life out of Patong yes.. Live very well off outside of Phuket.. yes.. Drink and party every day no... Change GF's daily no.. etc..
Your talking about 30 - 45k baht per month, a nice small place for 10 - 15k outside of Patong with garden etc.. Internet / phone / sat tv prolly about 2500, utilities probably couple hundred for water and 2000 if you use AC and lots of electric (say 2500 again) so house and utils and information costs at about 20k worst case.. Then food / wine budget.. Running a car and or bike.. Golf or other clubs etc.. medical insurance.. etc and it might start to get a little tight on the 30 end of the range and this if before you consider any entertainment budget at all or supporting a Thai wife / family.. Yes its doable and if your after a very simple quiet life you might not even find it hard.. Personally I would find it tough but then I live in Patong and tend to overspend..
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
|
|
#12
21-07-2005, 18:48
|
||||
|
||||
|
Quote:
I've done some calculations and come up with the following monthly figures in Baht: Accommodation 30,000 Food 15,000 Golf 5,000 Nights out 15,000 Ladies of the evening 15,000 Miscellaneous 20,000 Total 100,000Baht Bearing in mind my low score on the drinking questionnaire, I doubt if people could live a reasonable existence on anything less than £1,400 a month. Have I missed anything?
|
|
#13
21-07-2005, 19:39
|
||||
|
||||
|
Thanks Diz. I do have 2 properties in London (Stratford) and the net profit per month is £1,000. I do not (yet) wish to finish working but do wish to have longer holidays abroad particularly in the wintertime.
I have managed to negotiate myself down to 80% of a full time contract with my employer but really do need to find something where I work April - Sept. and holiday Oct. - March. Managing properties in London whilst living in Wales is manageable but to try and do it from LOS is impossible. The agents all seem to want 15% of rent, so a lot of profit would disappear if I used their services. Your figures regarding expenditure in LOS are encouraging though - ta. Now 10 wins out of 10 on your gee-gees would really be a big help 
|
|
#14
21-07-2005, 21:32
|
||||
|
||||
|
Guys......
This thread is getting too interesting, seems age 40+ is a time for change  It is almost exactly a year since I saw Nicke in MTB, pumped him for some infos on how he can survive+ with his nice, but small, bar ... Then I want to Tai Pan and was 'enlightened' .....  That was my future. No more a boring Accountant....I was a *****mongering bar owner with bandana on my head DJ'ing my fave techno music LOOOOUUUD as feck and having a ball  I've saved a bit as an expat Accountant and was thinking about doing it soon as i'd seen all those bars and agogo's you linked above already, but now it looks like being a bar ower is too easy.... to lose money..... as all the bars are for sale and there are few punters. I hope there is a turn around for the sake of Phuket. So I will stay 'here' for one more year (as I just renewed my visa against all odds) and boringly save another wedge whilst reading this great forum everyday. I'll try and get a trip out in August and see for myself the true picture. Regards to all and thanks to SteveM and LIL for their great input. H3X
|
|
#16
13-09-2005, 03:18
|
|||
|
|||
|
Quote:
I agree with Steve here. It all obviously depends on what size place you wish to start but I believe mid $100K is about right. I've seen it done for way less but you have to know someone. A lot of seed money is needed at the startup...I would say at least $30-50K for "unexpected" expenses...With all things like this...be careful and ask around...Good luck!
|
|
#17
13-09-2005, 03:22
|
|||
|
|||
|
Quote:
You are looking at around 40,000 Baht a month plus room. If you have extra skills such as book keeping then definately more. It's not an easy life however...Did it for several years helping many different clubs....I didn't drink for a lot of those years.
|
|
#18
13-09-2005, 03:28
|
||||
|
||||
|
Quote:
And then you will have to be thai because it would be nearly impossible to get a work permit.
__________________
LIFES A BIT*H THEN U MARRY 1 
|
|
#19
13-09-2005, 03:49
|
||||
|
||||
|
Quote:
I did a UK brewery management course (BII, for what its worth) then worked the family pub for a few years as a licensee, can do all that stuff no problem, and your right, never much time for drinking, more of a lifestyle than a 9-5 job. Still, I did enjoy it. Was just an idea floating round me swede on reading this thread 
|
|
#20
13-09-2005, 05:58
|
||||
|
||||
|
Quote:
Extremely rare to come by, well legal job anyway. You are always under someones eye, and just have to watch your step.
|
|
#21
13-09-2005, 13:12
|
||||
|
||||
|
Quote:
Thanks for sharing Steve and this thread is IMHO one of the most interesting in this forum... I guess pretty much every single one of us have thought how it would be to have a source of incom over there (e.g. a bar) and have a blast 7 days a week  And of course I'm no exception   However it seems like Patong or Phuket in general is not a place where you easely make a buck nowadays  nevertheless by investing in Phuket it'll help build up the place again I guess and the more people investing and taking a chace the better the odds are for the place to be back to it's great old self... Nobody can ever make it by playing it safe... Quote:
Thanks for the great info Diz and also for sharing some of your thoughts and plans. I've thought my self if it's possible for me to pull a similar stunt However I don't have much of a chance to work 6 months and have 6 months off. The only way I could do do such a thing is to save 1,2M Baht + the necessary amount for my place here in Gotenburg and take a one year leave of absence hehehe... Yeeeiiih it sounds great... However try to have a bar or something that leaves at least 50K Baht/month would be alright by me I guess. I'm a humble guy and would settle for that
__________________
The man who said "A bird in the hand's worth two in the bush" has been putting his bird in the wrong bushes.
|
|
#22
13-09-2005, 13:39
|
||||
|
||||
|
Quote:
NICE! That's half of what I spend here just on house and food...working on a retirement plan now. 4 more days to wheels up!!
__________________
I'm gonna rock your pants off & party my d1ck off, the girls wanna know when the tour's gonna kick off!! (Kid Rock/Diablo)
|
|
#23
13-09-2005, 15:09
|
||||
|
||||
|
Diz, if your nags are profitable, why not move out here and just do them full time. I make enough from my own picks to easily live here. Mostly place bets and a lot of sportsbetting :-)
|
|
#24
13-09-2005, 18:42
|
|
|