Analysis (2)

Staff matters, as told here before.

Although you are the "owner", you cannot work, because you have no work permit normally. Your wife/girlfriend has to act as "boss" in the bar. But, are you sure she can? Besides, sometimes you want to take a vacancy, travel around the country, see her parents etc. Who takes care when you both are away?

You need an old lady in the bar, called "mama-san". The mama-san should be the key person in the bar, taking care of all the ladies, customers, stock etc. If your lady happens to be not old enough, she cannot act as mama-san.

This was our big mistake: we had no mama-san. My wife was too young for routine work in bar, and all other ladies were very young, too. Nobody had adequate experience and this leads to anarchy. Sometimes the ladies just walked away, to the discotheques or with friends. Sometimes my own wife just made the same. Sometimes I was forced to sit in my bar together with few ladies and with no customers for hours. It's sad to tell now, but the initial mistake was made and there was no chance to improve the situation anymore.

Of course, we tried to hire a mama-san after a month or two after opening, but for this time the set of ladies was established already and a new person was not acceptable for anybody.

Analysis (1)

First of all, starting the bar business, you have to collaborate with local people. The money is coming from you, but in all the documents there appears another name, most usually, your Thai girlfriend's or your wife's. Futhermore, all the documents are in Thai, which means, you normally cannot read them.

For the beginning it seems OK for you, because you love your wife/girlfriend and you trust her. And obviously you think it will last forever. But there is no guarantee.

Your lady can cheat you, actually, in every minute. And so all other ladies working in the bar.

And here you can see your first mistake: too much trustfullness.

How to avoid this mistake?

When bying a bar or another business, let make the initial contract by a lawyer in English. Make sure that the contract is made for your name.

Don't worry about other paperwork: the licences, etc. This will not hurt you financically. Sure you have to pay for very many things after the initial payment, but this is just a small money for you.

If you can avoid the first mistake, you will be able to sell the bar anytime you like.

Yes I made the first mistake, but fortunately, the land lord (a Thai man) acknowledged my rights, mainly because I paid the rent to him, personally.

Sold

Yep, the bar is sold, at last.

It took only 6 weeks.

As a rule, the buyer is a Thai lady who is dreaming about bar business, but the money is coming from abroad, from her boyfriend/husband. In this case the money was coming from Japan.

Asked price was 500 thousand baht, but I was forced to make a discount, 50 thousand, because the buyer did not understand that she will be obliged to renew contract with the land lord in next January. It ment for her more 100 thousand. But, honestly, even 450 thousand was pretty good enough for me.

As told here before, I got the bar for 250 thousand plus the same contract fee, 100 thousand. Anyway, no win, no loose. Back to square No 1.

As promised, analysis will follow soon.