Just a quick and simple question. Do bars on islands such as Koh Samed actually make any big profit? Or should I just forget about it all?
TBH, I don't think you'll find your answers on a Thai teaching forum.
Ahh okay. I thought a lot of teachers may have ventured to the bar scene. Thanks anyway.
I don't think bars anywhere in Thailand make a huge amount of money, unless a few that have had a huge amount of money put into them first. Bars tend to just about pay for themselves. You could live off the takings, I would guess, but nothing much more than that.
The islands would be more difficult than on the mainland because you would, almost certainly, be stepping on other people's toes - especially a small place like samet.
If you have a few million baht spare and you want the experience for a few years, then why not? If you would be doing it as a type of investment then stay clear!!!
Of course Nat, the virtual pub forum on a Thai expat site is a ridiculous place to post questions about pubs in Thailand.
As far as I know, there are no bars on Samet that aren't already attached to/part of a resort. Land is at a premium on the island, and a large chunk of it is national park land. I would think, your best bet for running a bar would be in Pattaya, or Phuket. You know, where the various mafias operate.
4 more years!
I would say that it would be just about impossible on Samet to turn any kind of profit. If you were in a more 'developed' location then yes, possibly, and only then if you pumped a tonne of cash into a place. I would reckon that Chang could be possible, but the market is crowded. Other places that spring to mind include Phi Phi (I know personally 2 bar/restaurant owners who do very well) and Lanta.
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Unless you're Thai; forget it! If your bar is successful, you'll be invited to close it. If you don't; you may find life very unpleasant. Thais don't tolerate foreign competition.
I know someone who did this in Phuket; guy walked in one night and emptied a 9mm all over the bar. That was a warning; next time the shots will be intended and directed.
Frederick Douglass: Find out just what any people will quietly submit to
and you have found out the exact measure of injustice
and wrong which will be imposed upon them, and these
will continue till they are resisted with either
words or blows, or with both.
ďDonít believe them, donít fear them, donít ask
anything of them.Ē
^^^really? That bad huh?
I thought about Chang but it is so far out and in return turns me off.
Surely there would be heaps of foreigners doing well in this industry excluding the mafia and drug barons.
Or is it a myth?
doing well?? there are heaps of bar owners but their profit will be enough to keep them fed and watered. And even then they may well be their own biggest customer at times.
Myth. Just look at the number of bars which come up for sale. Really, not many do very well at bars. There are a few, but you either have to be well connected or pump in the cash. Places like Samet are just small mafia infested areas. Don't even think about it.
The folks who do well are either not in direct competition with Thais (Hua Hin is good for that) or they have made themselves a few good connections. Don't be fooled, all those bars in Phuket, Samui et al don't really make a pot of gold, most just scrape by (usually on a TEFLer type salary).
A friend actually suggested huan hin and I didnt mind the place. The pace is quite slow compared to other places which i like.
What about Chang? Or is that place the same story with the other island?
^competition would be stiff in all places. Hua Hin is packed with bars, both girly and normal. Chang is also saturated. There is a chance if you are willing to spend the money. I know a few prime locations that could be developed on Chang, but the amount of work and the amount of cash you would have to pump in are immense.
@stewart - wouldn't it be best to buy a bar already there instead of developing and creating a new place? I was @chang for couple of days recently. Cant remembered where exactly but i went to the right side of the island after getting off the ferry. The party side, I assumed and being stuck in the car for so long wasn't much fun either.
^that's exactly what I meant, buying an existing bar, but they are on sale for a reason...
Thanks for the advice, Stewart.