I am selling my restaurant in Surin.

CO-CO

Rather wrinkly & occasionally cantankerous member
Not easy selling a business.

Evaluation of fixtures/fittings, stick and goodwill (where anyone can set up at anytime) is not easy. In Thailand, especially rural towns, I would be reluctant to pay anything for goodwill - that would certainly be my start point point.


I am one of the few who successfully sold a business (at a profit :) ) - Coffee Corner in Prakhonchai is now a phone shop.
 

gotlost

Kap Chong R Us Member
Not easy selling a business.

Evaluation of fixtures/fittings, stick and goodwill (where anyone can set up at anytime) is not easy. In Thailand, especially rural towns, I would be reluctant to pay anything for goodwill - that would certainly be my start point point.


I am one of the few who successfully sold a business (at a profit :) ) - Coffee Corner in Prakhonchai is now a phone shop.
Same for me.
 

Cent

FORUM SPONSOR
It's not that many years ago that there was more competition and the joints appeared to be jumping.
On certain nights, as were the agogos and the sing a song places. Plus there was some diversity of offerings between the restaurants. (I saw today at AA there's a contingent of Germans now meeting there on Wednesday afternoons.) We are just coming out of the covid stuff, and it is Surin, not Bangkok and Pattaya and Phuket. I'd say we here have about 6 to 12 months to get back to where it was pre-covid. But there are some new places popping up and there is more competition now, especially new Thai places (Uncle Mustache franchise restaurant seems to be doing well in the late afternoons and evenings.) Plus a couple newer places either just opening or getting ready to open. My opinion and thoughts on it.
 

Benson

Forum Sponsor
On certain nights, as were the agogos and the sing a song places. Plus there was some diversity of offerings between the restaurants. (I saw today at AA there's a contingent of Germans now meeting there on Wednesday afternoons.) We are just coming out of the covid stuff, and it is Surin, not Bangkok and Pattaya and Phuket. I'd say we here have about 6 to 12 months to get back to where it was pre-covid. But there are some new places popping up and there is more competition now, especially new Thai places (Uncle Mustache franchise restaurant seems to be doing well in the late afternoons and evenings.) Plus a couple newer places either just opening or getting ready to open. My opinion and thoughts on it.
The loss of Speed 3 and covid was the death nell of that soi. Maybe the market that is rumoured to go in the Speed location will improve business there.
Not a farang friendly soi. Thats 3 that it chewed up and spit out. Non making it past 12 months of operation.
 

Benson

Forum Sponsor
The loss of Speed 3 and covid was the death nell of that soi. Maybe the market that is rumoured to go in the Speed location will improve business there.
Not a farang friendly soi. Thats 3 that it chewed up and spit out. Non making it past 12 months of operation.
Just heard this morning, The space Speed 3 occupied , will be a small night market and a small night club.
 

Cent

FORUM SPONSOR
The loss of Speed 3 and covid was the death nell of that soi. Maybe the market that is rumoured to go in the Speed location will improve business there.
Not a farang friendly soi. Thats 3 that it chewed up and spit out. Non making it past 12 months of operation.
Benson, It's a tough business. Many do not have the money to wait to start making a profit. Takes around 2 years to become established and have a customer base and start turning a profit. Also, you need to do something that is not same old same old as all others you are competing with. There are two markets really, westerner tourists and expats, and Thais. You need the Thais really to do well in my opinion. Being able to cater to both markets is a huge plus. And, saying that, there is a limited amount of expats to appeal to and enough places on that soi (and others) to give you competition for their baht. Covid broke that down to even less customers for two years or so... no tourists, no teachers, no farangs passing through doing what they do for a couple/few months before leaving, government close downs, etc, did some serious damage to the food and bar industry. Many just could not survive the downturn and didn't have much appeal for the Thai customers to begin with. Now things have opened up somewhat things are returning to normal, but slowly, and new places are starting to open, which means more competition once again for a small market. Just the way I am seeing it at the moment.
 
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