Could Anyone Offer Some Advice On Selling A Beer Bar In the Next Six Months?

[highwaystar2009 0]

Hello All,

 

Not sure how to start this off, so I'll just go for it ok.

 

My friend wishes to look into the possiblilty of selling a beer bar.

 

Not really too sure where to start or how to go about it.

 

I would be grateful for any advice or comments from fellow board members.

 

Many thanks in advance

 

Tim

[Mr.Dream Transport 0]

If his bar has proper insurance and licensing, then he might want to have it listed with a Thai business sales company. I know on Sunbelt Asia's website, they have a list of Thai businesses for sale. Undoubtedly there are probably more then a few people looking for specifically this kind of business.

Many of those on the forums, or those of us that live in LOS, are probably going to steer away from investing any money in a new bar at the moment. I am sure there are quite a few of them up for sale at the moment. That would probably be your best bet as far as I can tell at least anyways for the time being. This is just my opinion of course, although I am pretty sure it will be validated by most here.

[FarSider 0]

If his bar has proper insurance and licensing, then he might want to have it listed with a Thai business sales company. I know on Sunbelt Asia's website, they have a list of Thai businesses for sale. Undoubtedly there are probably more then a few people looking for specifically this kind of business.

Many of those on the forums, or those of us that live in LOS, are probably going to steer away from investing any money in a new bar at the moment. I am sure there are quite a few of them up for sale at the moment. That would probably be your best bet as far as I can tell at least anyways for the time being. This is just my opinion of course, although I am pretty sure it will be validated by most here.

 

This is good advice to start. Your friend will need Thai representation for sure. I do property development and management (but have never attempted anything outside the U.S.), so I have some background in this area, generally. Obviously location is key..... and the time-worn phrase "timing is everything" applies. I my view - and what little I know & understand about buying & selling businesses in Thailand I can't imagine a worse time to try and sell a business and/or property. Having said that, if your friend is not in a desperate situation and can pretty much wait things out, then he should list it for sale and see what happens. You never know when the right buyer will come along. I've seen property and businesses sit on the market for several years in the best of times and could not believe they didn't sell faster... and then I've seen a couple of instances where a business sold quickly in a terrible market - I would have never guessed it would sell so fast.

 

Good luck to your friend! --- Farsider

[highwaystar2009 0]

My friend is a Thai national and has had this bar for about 10 years. It is an established bar within Walking Street. Selling is one option, but it is not the only option. Time is not against her either. I think she has got about 18 months or so to decide on what to do. Those who know me, will no doubt be able to guess the name of the bar. I just have not mentioned it yet but its no real secret.

 

Thanks chaps for your messages too. I will pass your comments onto her in days to come.

[captcraig2 120]

In today's market she's probably gonna have to almost give it away! if she wants out in 18 months she better start trying to move the business today!

[bratpack 91]

She has half a chance and no chance unless you can find a wealthy guy that likes to throw his money down the drain.Also more and more farangs are finding that to own a bar is to go to an early grave.

[Obsession 571]

As Dreamtransport said, list it with an agency. The agency will promote it to everyone looking for any type of business.

[MeGoDanceNow 4,281]

A Thai lady looking to sell a beer bar to a farang...

 

The business license or the liquor license (I forget which) has to be in the possession of a Thai national. Does your friend intend to continue in this business in some capacity after the sale, or does she want to completely walk away?

[highwaystar2009 0]

Hi again,

 

She will walk away from the business entirely.

 

She might possibly come to live with me in England.

 

Just trying to seek advice for the moment, but the agency idea could be a starting point.

 

She has other parties "slightly" interested but to what extent I don't really know.

 

Thanks once again

[captcraig2 120]

Post the info here.....Maybe a member might be in the market!

[torrenova 644]

Quite a lot of advice there but I wouldn't bother with any of it. Why ? well all the business advice people are nigh on useless and unless you have something expensive and / or easy to sell, they want 10% plus VAT for doing next to bugger all.

 

Forget all this about licenses and the rest of it. That is a given and it is up to the new people to make their own arrangements.

 

So why not use an agent apart from the cost ? well largely because buyers know the agents are crap and over priced and it doesn't matter what it looks like in an advert, you've go to fly over and have a look don't you ?

 

Firstly I advise getting the books in order. Sure you can cook them but it will highlight some of the figures or percentages you're going to have to give out. Then get a website sorted, either to advertise the bar or a sales website to sell the bar. After that, start doing your research into what others are selling. You can use the agents for that.

 

Get the Pattaya Mail. This is invaluable and will be your main local advertising medium. Your advert will refer to your website so you need a clear and simple URL. Remember that this is available online as well so prospective buyers can see it from overseas.

 

Post it on Thai Visa'a classified advertisements. I've had success there and through Pattaya Mail for such businesses. Look out for other cheap or free advertising places. If making adverts, spend some time and make them look at least half way proficient.

 

With 18 months to go I suspect you're looking at key money ? You've still 2 high seasons to go but I would worry if there was nothing in the kitty already.

 

PM me if you want.

[Obsession 571]

Quite a lot of advice there but I wouldn't bother with any of it. Why ? well all the business advice people are nigh on useless and unless you have something expensive and / or easy to sell, they want 10% plus VAT for doing next to bugger all.

 

Forget all this about licenses and the rest of it. That is a given and it is up to the new people to make their own arrangements.

 

So why not use an agent apart from the cost ? well largely because buyers know the agents are crap and over priced and it doesn't matter what it looks like in an advert, you've go to fly over and have a look don't you ?

 

Firstly I advise getting the books in order. Sure you can cook them but it will highlight some of the figures or percentages you're going to have to give out. Then get a website sorted, either to advertise the bar or a sales website to sell the bar. After that, start doing your research into what others are selling. You can use the agents for that.

 

Get the Pattaya Mail. This is invaluable and will be your main local advertising medium. Your advert will refer to your website so you need a clear and simple URL. Remember that this is available online as well so prospective buyers can see it from overseas.

 

Post it on Thai Visa'a classified advertisements. I've had success there and through Pattaya Mail for such businesses. Look out for other cheap or free advertising places. If making adverts, spend some time and make them look at least half way proficient.

 

With 18 months to go I suspect you're looking at key money ? You've still 2 high seasons to go but I would worry if there was nothing in the kitty already.

 

PM me if you want.

 

But the good thing about agents is that they will offer it to people that are looking for a business. I bought a UK business years ago that I had enquired about a different business, but didnt like it, and the agent showed me their other businesses for sale. Same when I was looking in Pattaya. I gave the agent the price I was willing to go toand they phoned every time one came on the market.

Re the 10%, agents usually tell you to bump up your selling price, so the 10% they take shouldnt matter.

[torrenova 644]

But the good thing about agents is that they will offer it to people that are looking for a business. I bought a UK business years ago that I had enquired about a different business, but didnt like it, and the agent showed me their other businesses for sale. Same when I was looking in Pattaya. I gave the agent the price I was willing to go to and they phoned every time one came on the market.

Re the 10%, agents usually tell you to bump up your selling price, so the 10% they take shouldnt matter.

 

So bump up the price to an unjustified level to pay the commission ? Great advice.

 

Agents are crap. They do nothing other than stick it on a website. They do no due dilligence and would happily say you had sales of 5m, costs of 4m and profits of 3m (which is impossible).

 

Unless you need to protect anyone knowing you are selling, word of mouth will usually get a result backed up by some paper and your ownn internet advertising. I've bought and sold enough in Pattaya to know this first hand. For large stuff, the agents do perhaps have some advantage but I'd still be sceptical.

 

If you watch the market, you can track businesses for sale for ages and prices as the agents are too dumb and lazy to change the prose in their adverts or on their website.

[villayouth 37]

Hello All,

 

Not sure how to start this off, so I'll just go for it ok.

 

My friend wishes to look into the possiblilty of selling a beer bar.

 

Not really too sure where to start or how to go about it.

 

I would be grateful for any advice or comments from fellow board members.

 

Many thanks in advance

 

Tim

 

why dont me and you buy it tim ? that would cure all our ploblems

[jacko 8,822]

why dont me and you buy it tim ? that would cure all our ploblems

It's on Walking St not PattayaLand! Edited July 2, 2009 by jacko

[villayouth 37]

It's on Walking St not PattayaLand!

 

[joekicker 53]

Also more and more farangs are finding that to own a bar is to go to an early grave.

 

Surely that would have to be because more and more farangs are buying bars. Damn few people learn such lessons BEFORE they buy. The world's full of bar customers who figure it'd be a profitable cinch to move from the stool side to the cooler side of the bar.

 

.

[Obsession 571]

So bump up the price to an unjustified level to pay the commission ? Great advice.

 

Agents are crap. They do nothing other than stick it on a website. They do no due dilligence and would happily say you had sales of 5m, costs of 4m and profits of 3m (which is impossible).

 

The OP is selling a business. So if an agent sells it for more, then that is obviously good It doesnt matter to the OP either if an agent doesnt do the due diligence.

 

I thought agents were no sale no fee? The OP would have nothing to lose by trying them. And agents would close if they didnt sell businesses from time to time.

[highwaystar2009 0]

FAO VILLA YOUTH

 

why dont me and you buy it tim ? that would cure all our ploblems

 

I'm selling it you numpty!!!!

Edited July 5, 2009 by highwaystar2009