Sunbelt Asia Weekly Column
12 April 2019
Thailands six major airports predicts over 3 million inbound and outbound tourists during the Songkran holiday period. The Airports of Thailand says about 3.2 million passengers will pass through its six airports; Suvarnabhumi will be the busiest with 1.7 million passengers, followed by Don Mueang International Airport with 970,000 and Phuket with 458,000 during the 7 day period. Chiang Mai is expected to see 286,000 followed by Hat Yai with 87,000 and Chiang Rai with 80,000.
The Immigration Bureau is expected to ask the Cabinet to extend the visa on arrival waiver fees for visitors from 21 countries for another three months. The original program was scheduled to end April 30 but the Tourism Council urged Immigration to ask for an extension of the waiver. The waiver attracted additional foreigners from its inception on November 15, 2018. From November15 to March 31 there were 2,346,971 foreign visitors, up 892,376 from 1,454,595 during the same period the previous year. There were 1,704,539 Chinese visitors, up by 709,434, and 467,435 Indians, up by 139,069. Other foreign visitors totaled 2,346,971, up by 892,376.
The Tourism Authority of Thailand has signed an MoU with three leading insurance companies to provide an online travel insurance package for tourists to Thailand. The new project, titled Thailand Travel Shield, will enlist Muang Thai Insurance, Krungthai Panich Insurance and South East Insurance to provide visitors with travel insurance for FIT (free independent travelers) visitors. The project is expected to sign up 10 million visitors, of which one-third is predicted to be Chinese tourists. The insurance will be active 24/7 and tourists will be able to contact staff who are able to speak 40 languages at the call center to assist in the event of accidents, sickness or death, flight cancellations or lost luggage.
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Hostel and restaurant in busy Koh Phangan area
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
Samui bar & grill in Chaweng
Located on the hottest nightlife street in Samui on Chaweng Beach this bar and grill is fully equipped with a fully fitted out kitchen, full wine storage area, a ground floor bar and another bar on the third floor with a full DJ booth hanging off the wall with full sound and music equipment.
The fourth floor is currently a storage area but could easily be converted into a VIP lounge.
There are also offices and a store room as well as the IT center with all controls. The business is a well-known and popular bar and the sale includes the lease in an amazing location in the heart of Chaweng as well as the brand name and Thai company if the buyer requires purchasing a company. There is no debt on the company and it is only registered to this business.
All fixtures, fittings, and equipment is included in the sale including top quality stainless kitchen and equipment, all DJ equipment and lighting, and the huge wine cellar holding over 300 bottles of wine.
The bar is a huge draw with the younger crowds, there is also a small room next to the ground floor bar which is part of the sale, this can be used as a store; previously the space was rented out for 20,000 baht a month.
ASKING PRICE: 1.2 million USD or 39 Million baht
Cafe with land near Hua Hin
Located in the fast-developing beach town of Khao Takiab, only 7km from Hua Hin, this lovely café is only a few minutes walk from many major four and five star hotels. Included in the sale price is chanote titled property and the business as well as all fixtures, fittings and equipment. If you have always wanted to live near the beach and run your own business, then this is a fantastic opportunity.
The restaurant has been open since 2005 and is fully equipped with all necessary restaurant and bar equipment including a kegerator. There are three floors with the top floor a private apartment that could be used by the owner or rented out. There is plenty of space for diners and a new garden area that is leased at 50,000 baht a year was recently added. The café is beautifully decorated with hand-painted murals from a well-known Thai artist, sourced brick, and a gorgeous European meets Asia aesthetic.
The owners will include all supplier contacts so the new owner can just walk in and take over. In the high season there are 8 full time staff and in the low season 6. Monthly wages during the high season are around 80,000 baht, sales during the high season average on 30,000 baht a day. The owner is selling the business as they are ready for a new challenge after building up this restaurant and bar.
ASKING PRICE: 16.5 million baht includes land
New pizza restaurant in Pattaya
The owners of this brand-new concept pizza restaurant in Pattaya are forced to sell due to the loss of their key manager and the imminent retirement of the owner.
They believe strongly in the brand and the owner is more than happy to stay on and train the new owner and manager in this new concept of pizza restaurant.
Located in a popular tourist area of Pattaya, the business is set in 112 sqm with a low monthly rent of 30,000 baht. There are currently three full-time staff. They have an active social media presence, which the owner will help new owner to maintain and promote.
The restaurant has proved to be popular with locals, tourists, and expats. A new dedicated owner with plenty of time to invest in the business could easily see it grow.
The owners invested around 3 million baht in the business and will sell all new recipes, business plan, as well as all brand-new fixtures, fittings and equipment.
ASKING PRICE: 5 million baht
Kanchanaburi restaurant near river
This lovely resort is fully licensed and within walking distance of the famed River Khwai or Khwae, as its known in Thailand, and 1.2 km from the famed Bridge, a major tourist destination not only for visitors but for local Thais as well. With a gorgeous garden and pool there are 15 bungalows, 3 family bungalows, 5 deluxe bungalows and 6 standard bungalows. Every bungalow has a private bathroom, mini bar, wardrobe, safe box, tea/coffee making set, free WiFi and comes fully air-conditioned. The standard and deluxe bungalows overlook the garden and the family bungalows are behind the swimming pool. The resort also books tours, and offers motorbike and bicycle rentals. There is a charming restaurant as well as a large 2 bed room house complete with full western kitchen.
The resort is one of the top-ranking in Trip Advisor and has an excellent feedback score on Booking.com as well. The resort is booked through August, 2019 and has had an average of 50 percent bookings throughout the year, high season is usually higher. With the right PR and marketing this resort could see much higher occupancy due to its high ratings. There are 9 full time employees and total monthly wages of 100,000 baht. The hotel has a lease contract to 2020, and pays rent of 240,000 baht every 6 months. Annual sales reach 5-6 million with profits of 1.5 to 3 million. The owner is retiring and believes the business could grow with a dynamic new owner.
ASKING PRICE: 5.8 million baht
Pet product business with many distribution channels
The love of pets and the disposable income to spend on them has skyrocketed in Thailand over the last few years and this importer and distributor of high-end pet products takes advantage of that trend.
With distribution channels in various pet shops, pet hospitals and online, this business turned a profit within the first three years of business. The business has an extensive social media presence as well.
Inventory valued at 1.2 million baht is included in the sale. There are two full time staff and an outsourced accountant with a total monthly payroll of 40,000 baht.
This business can easily see growth with a larger online presence and actively seeking out new distribution channels. The owner is moving back to his home country and so this necessitates a sale.
ASKING PRICE: 3. 5 million baht
Software & Consulting firm in information systems
Offering software and consulting specializing in Information Systems and Enterprise Content Management, this business also offers product design solutions, international standard technical and engineering resources. It has earned a good reputation and built up a clientele of major corporations in Thailand since it started business in 2015. Currently the company has 60 active well-known clients and 12 clients that pay an annual fee for services.
This business has seen gross sales over 14 million baht a year since its inception and profits from 4.9 million baht and up, gross sales for 2018 are already at 24.9 million baht and profits at 9 million baht. There are four staff, including the owner and monthly payroll for staff excluding the owner is 130,000 baht.
The owner willing to stay with the new buyer for 1 year to ensure a smooth transition and will also offer future support if the new owner wants to create new software. The three major pieces of software that the company owns are valued at 5 million baht each and are included in the asking price.
ASKING PRICE: 35 million baht
Recruiting agency with large client base
Established 14 years ago, this recruiting agency has developed a great reputation in the Thai market for its extensive database of high-quality candidates and its well-managed recruitment system. With over 1,500 clients and well-trained staff the business has seen profits average 10 million baht a year on revenues of 30 million. There are 20 full time employees and the business is fully licensed with the license not expiring for four more years. There is already a strong associate director in place who is interested in moving the company forward so the new owner will be stepping into a turn-key business.
The founding director is retiring and the company has some independence issues with the network of which it is an independent member. The business has 8 million baht in registered capital and with 20 full-time employees, can support work permits. The business will require a name change but the new owner will retain all databases. Known for its placement with blue chip companies in Thailand, this business is ready for a new owner to walk in.
ASKING PRICE: 25 million baht