Sunbelt Asia Weekly Column
26 April 2019
Sunbelt Asia will be closed on Wednesday May 1 for Labor Day and on Monday May 6 to honor the coronation of HM King Rama X. These are public holidays and all government offices will be closed.
Amazon recently opened a new office in Bangkok, the second in South East Asia. While not a full store, the new office will provide resources to Thai merchants to sell on Amazon to customers overseas. The company sees growth potential in Thai merchants and is currently developing a third-party service provider network for shipping overseas which would help standardize shipping prices. Currently vendors can ship directly themselves. Eventually Amazon plans on developing its own logistics operation.
Kasikorn Bank is now accepting bank deposits at 7-11 stores around the country. The new agreement with Counter Service will allow people to deposit up to 30,000 baht per transaction and up to 100,000 baht per account daily at over 11,000 stores nationwide. There will be a 15 baht service fee and once the funds have credited to the recipients account the depositor will receive a receipt and an SMS message. Thai banks have been increasing efforts to allow more rural areas to access banking options including a recent agreement to allow bank deposits at the Post Office as well.
The Cabinet approved the visa waiver fee last week for 21 countries that obtain a visa on arrival. The extension is for another six months and is set to expire on October 31, the waiver allows nationals from 21 countries to enter for free, instead of paying 2,000 baht. The visitors must have a valid address, show a return ticket out of the country and prove they have a minimum of 10,000 baht per person. Countries included in the waiver are: Andorra, Bulgaria, Bhutan, China including Taiwan, Cyprus, Ethiopia, Fiji, India, Kazakhstan, Latvia, Lithuania, Maldives, Malta, Mauritius, Papua New Guinea, Romania, San Marino, Saudi Arabia, Ukraine and Uzbekistan.
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Wholesale foods importer & distributor
This import and distributor of wholesale foods was established in 1999 and provides high quality imported products for Thai retailers, wholesalers, and industrial users. The business is a direct importer and distributor of fresh produce and other unique food products from both local and overseas manufacturers and suppliers. The business also has four company-owned retail outlets located in wholesale markets. The company has seen local gross sales average 360 million baht a year, export gross sales average 50 million baht a year .The owner will assist the new owner for one month and would be willing to be on call for a mutually agreed upon extended period of time to introduce all customers, suppliers, and business prospects as well as provide all information and documentation. The owner is retiring and so is selling this profitable company, the new owner could see a return of investment in 4 years.
ASKING PRICE Updated new price 40 million baht
One of a kind party bus
Interested in event organization, love to have a good time and meet new people? This may be the business for you. This one of a kind party bus is now available! This is only the second owner of this amazing bus, it has been lovingly cared for and maintained so the new owner can walk (or drive!) into an already established business that can be set up anywhere.
This top of the line mobile entertainment and luxury vehicle was imported from the US and comes fully equipped and modified inside as a luxurious club set up. The party bus has a DJ booth with premium Pioneer console, VIP seating, Laser LED, dance poles, 2 LED televisions and 8 small displays, digital light controllers, a minibar, and even a private VIP area. This bus is equipped to go anywhere as it has its own toilet and bathroom. The bus can hold 30 people in air-conditioned comfort and is going strong with about 7-10 bookings per month at a cost of around only 15,000 baht per trip. Sales in 2018 reached 1.9 million baht. This could easily grow with a dedicated owner seeking out new markets. There are two employees with a total monthly payroll of 30,000 baht. With no rent, the costs to run are low.
The entire set up including vehicle and equipment, is valued at 2.5 million baht. The owner is selling as he is looking to move into another area of business. This is a great opportunity for a unique business.
ASKING PRICE: 2 million baht
Restaurant and bar in Sathorn area
This restaurant and bar is in the central business district of Sathorn and has been designed by a top design studio.
All equipment is high end and there is an 8 year lease on the building and the outdoor garden. There is also an apartment upstairs for someone to live on site.
There is a parking agreement with a local business for spillover so that parking for customers is never a problem. The restaurant was set up with a Thai company and is eligible for a work permit.
The owner found their concept did not attract their target market but believes this restaurant could be attractive to locals and people in the area with the right concept and food.
The owner invested more than 15 million baht but is selling for 10 million as he seeks a quick sale.
ASKING PRICE: 10 million baht
Fashion jewelry business with 10 branches nationwide
This fashion jewelry business has 10 branches nationwide; eight in shopping malls and tourist areas in Pattaya, one branch in Rayong and one branch in Bangkok and offers well-known jewelry with popular designs.
Each kiosk style shop is around 15sqm and the business has 15 well-trained and knowledgeable staff with a total monthly payroll of 300,000 baht. Sales for this business reach 15 million baht annually with a profit of 20 percent.
Inventory valued at 5.5 million baht is included in the sale as is the lease deposits totaling 600,000 baht.
The owner is moving back to his home country due to family issues and so is selling the business.
ASKING PRICE: 12 million baht
Phuket guesthouse five minutes from beach
Located five minutes walk from a popular beach in Phuket, this guesthouse is also close enough to the party zone to go out and have a good time but not so close you hear it all! There are many restaurants, sports bars, shops, and convenience stores in the neighborhood- making it a popular tourist destination. The hostel is highly rated in Booking.com and Hostel World, and built up a good reputation.
The guesthouse has 5 private rooms and three dorm rooms that have 22 beds in total. Each room has air-conditioning and bathroom with hot water. There are two Thai staff and monthly rent on the building is 45,000 baht. There is no key money but one month guarantee is required. Payment is three months rent in advance. The owner is forced to sell as he is relocating due to personal circumstances.
ASKING PRICE: 1.2 million baht
Don Mueang area restaurant near large international school
This long-running friendly wine bar and restaurant is located in Naklua in Pattaya, very near to a five star hotel so there is regular business. Popular with both Thai and foreign customers, the restaurant has earned good reviews on Trip Advisor and become well known for great food and a stellar wine menu.
The sale includes the property, which is freehold and has three stories with 500 sqm. The restaurant itself seats around 40 people.
There are five full time employees with wages of 82,000 baht and as the owner, no rent!
The business has seen sales reach 7 million baht a year with profit at 2.4 million baht a year. The property itself is valued at 21 million baht.
The owner is moving overseas and so is seeking a quick sale and has recently lowered the price from 24 million baht to 16 million baht; the sale price includes the company.
ASKING PRICE Update new asking price 16 million baht
Pet products business with good connections to pet supplies and hospitals
This recently renovated hotel and restaurant has a new, modern look and is located on Pattaya 2nd road. The long-running hotel now has a up to date, modern kitchen, bar, and restaurant with classic decor. There is an outdoor dining space as well and the entire restaurant seats 50 people.
The hotel has 14 rooms over 4 floors, in a three unit shophouse. Rent on this large space is only 100,000 baht per month. The hotel has income from a tour company of 15,000 baht a month, reducing the total overall rent to 85,000 baht a month. The lease is set for 4 years plus 3. There are 6 staff with a total monthly payroll of 70,000 baht a month. Located right on the main road and with good lease terms, this is a deal.
The owner is moving to Bangkok and so must sell the business. The sale includes all new equipment and the fully renovated restaurant and bar as well as a Thai company with work permit.
ASKING PRICE 5 million baht