Sunbelt Asia Weekly Column
1 November 2019
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Concerned about the new excise tax for entertainment venues?
The latest excise tax has many in the food and beverage industry concerned and a little confused. Sunbelt Asia has been retained by some of the largest food and beverage clients in Thailand. We specialize in the excise tax and all related matters, if you are an entertainment venue with concerns regarding the implementation of the excise tax don’t hesitate to get in touch with our senior lawyers who specialize in this area. Please call (+66) 02-662-7004.
Looking to start your own business and overwhelmed by the information?
There are quite a few options available to you including BOI, Limited Company and more. We can assist you in finding the right fit for your business ideas.
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Thailand climbs up Ease of Doing Business world rankings
Thailands ranking in the World Banks Ease of Doing Business list rose from 27 to 21 this year out of the 190 countries surveyed. Thailand scored an overall 80.10, coming close to Malaysia with 81.50 and ranked 12th. The country has eased obtaining construction permits by cutting 19 procedures to 14 and cutting waiting times from 118 days to 113 days bringing the country up to 34th in construction from 67th previously. The country also improved in protecting minority investors pushing the ranking in this category up to third from 15th last year. While Thailand came in sixth for obtaining electricity it was ranked at 47th for starting a business. Starting a business in Thailand remains complex and Sunbelt Asias lawyers are here to help navigate the many procedures required. Call (+66) 02-662-7004 for more information on how to start your own business in Thailand.
Indian tourist numbers climb to record high
The Tourism Authority of Thailand (TAT) reports that Indian tourists are expected to reach a record high of 2 million this year, up from 1.59 million in 2018, thanks to the exemption for the 2,000-baht visa-on-arrival (VOA) fees. In the first 9 months of the year 1.47 million Indians travelled to Thailand showing 25.6 percent growth year-on-year, with tourism income of 62 billion baht, up by 31 percent. Average spending was at 45,600 baht per trip or 5,700 baht per day, with tourists from India staying around 5-7 days. Of those around 67 percent are independent travelers with families.
Bangkok remains most visited city in MasterCard report, Koh Phangan climbs up
Bangkok has been ranked No.1 in the Mastercard Global Destination Cities Index (GDCI) for international overnight visitors for the fourth straight year, and the sixth time in the past decade. It is the only country with three cities in the top 20; Bangkok, Phuket and Pattaya. Annual international overnight visitors spent more than US$20 billion in Bangkok, a 15 percent increase from 2017, Phuket visitors spent more than $12 billion, a 9 percent increase from the previous year. Visitors from Germany topped beach and island destinations with Phangnga the highest at 25.1 percent followed by Koh Samui, Koh Tao and Koh Chang (11.3%). Koh Phangan joined the top 100 for Asia-Pacific at 96 and Hat Yai jumped to 31.
Classic beach bungalow resort on Koh Phangan
If living on a tropical island with your own business has always been your dream then this classic beach bungalow resort on Koh Phangan is your spot. With 3 rai of land, and 60 meters along the beach, this resort has 32 rooms; 13 are 22 sqm and 19 are 17.5sqm. Included is a large restaurant and many great reviews on booking sites.
Known for its classic homey feel, the lease on this fabulous beach front resort is 14 years with a rent of 58,333 baht a month. There are two full time employees and a monthly payroll of 30,000 baht. The business is located in Ban Tai, with access to the main road and a walk from the party scene in Ban Tai village.
ASKING PRICE: 8 million baht
(BKK15900)
Craft Beer Bar on Koh Samui
Join the growing trend of craft beer – but in paradise! This beer bar has earned good reviews and word of mouth for its great selection of beer on tap and craft beer. Established in 2016, the beer bar is quite popular with expats and tourists alike. Open from 5pm to 12 midnight, there is one full time and one part time employee with wages of 15,000 baht. Rent on the 65 sqm space is 28,000 baht a month with a 3 year lease. The business sold 1.7 million baht last year. The owner invested 1.75 million baht to open it including a huge walk in fridge to store the taps. All fixtures, fittings and equipment are included in the sale.
The owner has priorities in his home country that take up his time so is looking to sell the business.
ASKING PRICE: 2.5 million baht
(BKK15901)
Cloud hosting business in Chiang Mai
Currently rated as one of the top 10 cloud server providers in Thailand! This top rated cloud server provider is based in Chiang Mai Through a simple web interface our customers can create, scale, and operate their cloud servers and pay only for the resources they use.
Our hosting staff are highly skilled, loyal and independent making running this company with only 5 staff very easy to manage. With Cloud servers a growth market in Thailand we see minimum annual growth of 20%.
With the customers paying in advance the owners can focus on the business operations only as this business is highly automated. Order processing and invoice payments, for example, are fully automatic. The business has a stable base with more than 700 active customers and 14,000 non-active customers. Customer retention is at more than 2 years (and increasing).
The business is currently expanding the product base which will result in more revenue from the existing customers and re-gain non-active customers. Sale includes full inventory comprising of 35 servers in total located in Bangkok.
ASKING PRICE: 12 million baht
(BKK15920)
Unique concept store with branches across Thailand
With a unique and fun concept, this retail store has expanded rapidly and now has 39 branches around Thailand and in Cambodia. The stores are a destination and always have something new and fun to explore. Offering low priced fashion products and unique gifts that resonate with tourists and residents, the owners of this store have found that their success has outstripped their ability to manage the business. The company sources their products direct from the factory both locally and around the region. With an ever changing trendy offering of fun products, the company has created a popular and well-known brand image.
The business has 39 locations of which one is the headquarters and warehouse in Min Buri, and a company owned store in a popular tourist district as well as one licensed store. Total rent and services on these locations is around 5 million baht a month. There is 188 staff with a total monthly payroll of 3.17 million baht. Annual sales reach 344 million baht giving a profit of 38 million baht. Inventory valued at 100 million baht is included in the sale.
The company is debt-free would offer the new owner a good income but this is ideal for someone seeking to grow the business through franchising and owner-operated stores as the retail concept has proven to be quite popular.
NEW ASKING PRICE: 150 million baht
(BKK15817)
Koh Phangan hostel with 22 beds
Set in the heart of Ban Tai on Koh Phangan this new 22 bed hostel is convenient to the Full Moon Party as well as the other parties held on the island. The hostel also has a popular restaurant and bar serving Western and Thai food that seats 26 people. The business also offers motorbikes for rent and those are included in the sale. The rent on this 200 sqm building is only 16,000 baht a month.
The Full Moon Party draws thousands of visitors to the island every single month, while the neighborhood hosts the popular Black Moon Party as well as a few others. This is a great deal for someone who wants to get in on the ground floor of a backpacker business on Koh Phangan.
ASKING PRICE: 2.5 million baht
(BKK15871)
Assets sale of Chiang Mai restaurant
This restaurant is an assets sale as the owner seeks a quick sale. Located in a shopping mall near many moo baans in Chiang Mai, the restaurant is popular with families in the area. The nicely decorated space is 200sqm with quality kitchen equipment. Currently there are 14 full time employees with monthly wages of 150,000 baht. The lease is 3 years and rent on the space is 50,000 baht a month. Sales last year were around 3-4 million baht and a profit of 150,000 baht. The owner is selling the assets and location at a good price.
ASKING PRICE: 1.7 million baht
(BKK15906)
Online Expat directory ideal for one person
Walk in and take over a small one person business perfect for someone who wants an online business. This online expat directory and guide website is for sale and has been in operation since 2017.
This is easy to run from a home office or anywhere! And requires one person to update and sell advertising. The only expenses are the accountant monthly fee of Baht 5,000 (60,000 Baht for 1 year) and te website yearly payment of US$ 697 (about 24,000 Baht for 1 year ). Other expenses include the CRM customer data programme costs about 985 Baht a month (11,820 Baht for 1 year.), all other revenue was profit which can be taken as a salary. Revenues are raised from selling advertising, banners, featured listings etc.
The website updates are simple to do with the back office system, no coding skills are needed. there is a great support team available in USA for any technical issues, included is a CRM system that has all records of clients and contacts.
ASKING PRICE: 2.2 million baht
(BKK15876)
Jewelry factory in Bangkok with large export market
Take advantage of Thailands premier reputation for high quality gemstones and jewelry design with this long-running jewelry factory in Bangkok. The business exports gold and silver jewelry and gemstone jewelry to the EU and the US, nearly 95 percent of its product are exported. The factory, which was established in 1994 has a team of loyal, well-trained and experienced staff who will stay on. The factory, which is set in 600sqm 5 story shophouse, has the capacity to produce 12,000 pieces a month and is currently running at only 6,000 pieces, showing a huge potential to double sales.
With a good reputation and a huge database of customers the business saw sales reach 24 million last year with a profit of around 15 20 percent. There are 35 full time employees with a total monthly payroll of 450,000 baht. There are more than 400,000 3D designs on file, valued at $1 per file and inventory valued at 5.5 million baht, both are included in the sale.
The sale includes all design files, customer database, and inventory 7,000,000 baht., a Thai company with 12 million baht in registered capital. There are currently four foreigners working full-time with work permits. The owner is moving back to his home country for family reasons and so is looking to sell this business that has huge growth potential.
ASKING PRICE: 12 million baht
(BKK15851)
