I am selling my restaurant in Surin.

Benson said:
Closing/ Selling a tough call. But i feel you have not given enough time to establish youself, 10 months not long enough, Even in the real word 2yrs would be a minimum. I know business is slow, but we live in hope.
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The biggest problem I have seen over the years in that area is it is easier to wait out the business's lease to end than paying to 'buy out' the business. Those places run on a yearly lease - paid up front. If the business can't or won't pay the next year's lease they go out of business and a new place will eventually move in. I've seen it again and again on the Soi Cola and the bus depot area.

(The Thai family that owns that whole area is smart. They get their rent for the year up front, and in the bank. It does not matter much to them if the business fails or not. I also have always thought that area has too much of the restaurant and bar businesses in too concentrated an area which has too much competition to deal with for the limited amount of customers to be spread around for all to thrive.)
 
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Cent said:
The biggest problem I have seen over the years in that area is it is easier to wait out the business's lease to end than paying to 'buy out' the business. Those places run on a yearly lease - paid up front. If the business can't or won't pay the next year's lease they go out of business and a new place will eventually move in. I've seen it again and again on the Soi Cola and the bus depot area.

(The Thai family that owns that whole area is smart. They get their rent for the year up front, and in the bank. It does not matter much to them if the business fails or not. I also have always thought that area has too much of the restaurant and bar businesses in too concentrated an area which has too much competition to deal with for the limited amount of customers to be spread around for all to thrive.)
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I have said before that taking over an existing business is usually just a commitment to pay rent for 3 years - no guarantee of income.

Vendors invariably have a higher expectation fixtures and fittings, stock and especially goodwill.


A business that has been trading for less than 2 years (certainly 1 year) is unlikely to have much goodwill - if any.

In Thailand it is so easy to open a business - doing exactly what you did before, or somebody else doing exactly what you are doing.
 
CO-CO said:
I have said before that taking over an existing business is usually just a commitment to pay rent for 3 years - no guarantee of income.

Vendors invariably have a higher expectation fixtures and fittings, stock and especially goodwill.


A business that has been trading for less than 2 years (certainly 1 year) is unlikely to have much goodwill - if any.

In Thailand it is so easy to open a business - doing exactly what you did before, or somebody else doing exactly what you are doing.
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There's a huge warehouse in Pattaya selling fixtures and equipment of places that have gone out of business for cut rate prices.
 
Cent said:
The biggest problem I have seen over the years in that area is it is easier to wait out the business's lease to end than paying to 'buy out' the business. Those places run on a yearly lease - paid up front. If the business can't or won't pay the next year's lease they go out of business and a new place will eventually move in. I've seen it again and again on the Soi Cola and the bus depot area.

(The Thai family that owns that whole area is smart. They get their rent for the year up front, and in the bank. It does not matter much to them if the business fails or not. I also have always thought that area has too much of the restaurant and bar businesses in too concentrated an area which has too much competition to deal with for the limited amount of customers to be spread around for all to thrive.)
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That being the Majestic Hotel owner.
 
Benson said:
Closing/ Selling a tough call. But i feel you have not given enough time to establish youself, 10 months not long enough, Even in the real word 2yrs would be a minimum. I know business is slow, but we live in hope.
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Thanks, The restaurant is getting in the way of my family life, I know what needs doing to make it a success with the locals, but don't wish to go down that road. I'm in the process of building a consultancy firm in Sweden, which will keep me busy, I'm there at the moment. But thanks again for your well-meant advice, appreciated.
 
Texas-Thai Chicken said:
Thanks, The restaurant is getting in the way of my family life, I know what needs doing to make it a success with the locals, but don't wish to go down that road. I'm in the process of building a consultancy firm in Sweden, which will keep me busy, I'm there at the moment. But thanks again for your well-meant advice, appreciated.
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It's time consuming and hard work running a restaurant, as well as the financial aspect of getting a place up and running. And it can play havoc with family life. Long hours and at times it can be slow and not as many customers as you'd like or need to justify the long hours worked, especially in the first year or two. My wife and SIL work 6 days a week from 8 a.m. to 9p.m. or later. They'd work 7 days a week if I didn't basically force them to close one day a week to rest up and have some family time. Totally understand how it affects the family life. Good luck with the consultancy firm.
 
Cent said:
It's time consuming and hard work running a restaurant, as well as the financial aspect of getting a place up and running. And it can play havoc with family life. Long hours and at times it can be slow and not as many customers as you'd like or need to justify the long hours worked, especially in the first year or two. My wife and SIL work 6 days a week from 8 a.m. to 9p.m. or later. They'd work 7 days a week if I didn't basically force them to close one day a week to rest up and have some family time. Totally understand how it affects the family life. Good luck with the consultancy firm.
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There is no family life.

We lived above the 'shop' and only managed the occasional 2/3 day trip without closing. We also closed for one day.

We couldn't do a trip to the UK because Jip couldn't trust the staff to run the place properly. There were some nights that we would still be in the kitchen at 2 am experimenting with new dishes or prepping some of the dishes that got frozen down. That was partly due to us not going out to eat until 10pm after we had closed at 9pm.


If I ever did anything again it would probably be along the lines of a steakhouse and would not open until lunchtime. Cheap, tenderised, well-cooked steaks for the Thais at under 150 Baht with a selection of decent imported steaks at the top of the menu. I would refuse to cook any more than 'medium' - if the Thais want shoe-letter steaks they can go elsewhere!
 
CO-CO said:
I would refuse to cook any more than 'medium' - if the Thais want shoe-letter steaks they can go elsewhere!
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It is unlikely you will see Atb.

Back in the 70s in a hotel restaurant in Biggar* the chef (and owner) was a South African. The steaks were cooked over charcoal (albeit over a gas burner) and you chose your steak from a chilled display. It was then weighed and priced and cooked. He refused to venture over medium. One day we took our MD and I knew he liked his steak "well done" (the bloody Wigan heathen) so I had a word in the chef's ear. "No way", he said. "He's my Managing Director", I pleaded, "Just this time?" He finally agreed to cook it medium well. I didn't tell the boss who ordered "well done" as was his usual. When it arrived it looked no more than medium to me but he ate it without complaint. However, 40 years later, his son tells me he still orders well done steaks.

*The Wynedales House Hotel, Symington.
 
Cent said:
It's time consuming and hard work running a restaurant, as well as the financial aspect of getting a place up and running. And it can play havoc with family life. Long hours and at times it can be slow and not as many customers as you'd like or need to justify the long hours worked, especially in the first year or two. My wife and SIL work 6 days a week from 8 a.m. to 9p.m. or later. They'd work 7 days a week if I didn't basically force them to close one day a week to rest up and have some family time. Totally understand how it affects the family life. Good luck with the consultancy firm.
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Thanks for your comment. The restaurant has sold (after one day), so I'm a happy man.
 
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