Nightclub for sale Thailand

[samui]

I am selling my nightclub in Koh Samui Thailand.

It is being refirbed at the moment, reopening in 2-3 weeks.

http://www.mintbar.com


Send me PM for more info.

This is a turnkey nightclub which has operated for 4 years and makes a healthy profit. It also attracts some of the worlds biggest dj's and has a loyal following.

If you wanna live the dream and run a succesful nightclub on a tropical island paradise with all that Thailand has to offer then look no further..........

[excellentbars]

Hello Samui

I have lived Overseas in Both Thailand and Vietnam...and it is paradise I agree...

I have lots of good friends who own bars and restaurants in Thailand....

BUT....I would warn anyone looking to open or own a business in another country to first hire a Lawyer and do your duediligence.....

I personally have delt with opening a bar in Thailand and the laws are tricky but it is viable.....
first you must take into considerstions things that we do not have to deal with in the USA...

1-Key Money this is Pre paid rent up front and is often HUGE $$$$$ then every year depending on your deal more Key Money!
2-Along with the key money you will still pay rent every month
3-Foriegn ownership...You cannot own more than 50% of a business in Thailand so your lawyer will do his lawyer thing and you will need thai owners or partners for the coporation.... :confused:

4-There is no expensive $$$$ Liquor License's
5-you must pay fee's for everything $$$$ small but they add up!
6-Most leases are very short 3 years max for small bars but usually 1 year at a time for many spots...
7-You will need an foriegn work permit from the business


I can go on and on about doing business over in Asia as I owned a business in Vietnam and was involved in opening a bar in Thailand :)

Even if you don't choose to buy this business it is well worth it to go check it out!

Cheers
Chris

[inthemix]

how much are you asking for the club?

[samui]

Excellant Bars - Yeah thats mostly good advice you give there although a couple of things you are not accurate on........

Obviously having a good lawyer is essential, bangkok has several international firms, the firm I use JSM has offices in Hong Kong, China, Singapore etc, they are one of Asia's best firms, not cheap, but it is certainly worth the $ when doing business in a country like Thailand. It always amazes me how many people who seem to have there heads screwed on buy businesses here using 2nd/3rd rate lawyers or worse no lawyer at all when they have no understanding of the law or can even read Thai language.

1-Key Money this is Pre paid rent up front and is often HUGE $$$$$ then every year depending on your deal more Key Money!

Yes and no..... The norm is key money to take over the lease then Monthly or yearly rent till the end of the lease. A decent lease should then have an option to renew which could include more key money or just a rent re-negotiation.

In the case on Mint Bar (my nightclub) the lease I am offering is 10 years + option to renew. Key money is to be paid on Signing the lease and additional rent to be paid annually. For my lease the key money and rent is flexible, the more key money you pay the more I lower the rent, it's basically a way of getting a lump some back on my investment made building from scratch and fitting out the club. Not to mention the goodwill I have built up. The rent for the entire lease period will be laid out in the contract


2-Along with the key money you will still pay rent every month


Not if you pay the entire lease upfront, infact I will greatly reduce the rent for anyone who pays all or a portion upfront.


3-Foriegn ownership...You cannot own more than 50% of a business in Thailand so your lawyer will do his lawyer thing and you will need thai owners or partners for the coporation....


Yes and no, Firstly and most importantly foriegners can have their name on the lease and have the same rights as Thais for a lease up to a maximum of 30 years. But you cannot legally own the land itself, only lease it. For the company that employs the staff you do need thai partners but there is a loophole. Your lawyer will find nominess, they will sign the shares back to you and you are supposed to be activly seeking new investors. They no longer hold any shares in the company and as director you sign all papers. It's actually fairly straight forward and the company itself hold no assets. It just provides the work permits (up to 3 foriegners for Mint Bar) and pays the tax and insurance for staff etc etc.


4-There is no expensive $$$$ Liquor License's

Mint Bar has all licences needed and they cost in total around 150USD per year! Certain areas of Bangkok can have trouble getting licences for new establishments, lucklily samui being a tourist Island we can get all licences very easily. Once you have them given to the premises it's a formaility to renew annually for a nominal fee.


5-you must pay fee's for everything $$$$ small but they add up!

Not sure what you mean here, certain things may cost more but overall overheads are considerably lower in Thailand,
eg. Monthly at Mint Bar,
water - 40USD,
Electric - 350USD,
Tax on profit - 7%,
Staff salary:
Thai Manager - 500USD per month (this is a high salary as he is very good)
Bartenders - 230USD per month (again high as they are experianced)
Waitress - 180USD per month
All staff work 6 days per week
Printing is much cheaper here, so advertising costs for nights are much cheaper.


6-Most leases are very short 3 years max for small bars but usually 1 year at a time for many spots...

This is very true and such leases should be avoided. sometimes a bar will have a rolling 3+3+3, this is fine providing the contract states the rental terms for entire contract. Be careful of any contract only mentioning rent for a portion of the lease.

five or six years is considered a decent lease for a bar in Thailand. Mint Bar is available with 10 years + option for renew.


7-You will need an foriegn work permit from the business

This is true although if you set the business up properly and pay tax as you should work permits are a formality. I am selling the nightclub with a company that already has 3 work permits. I use one myself, one for a western manager who deals with customers and one for a malaysian who takes care of the dj box, flyers and guest dj's. They could quite easily be used for 3 western partners.


For Mint Bar on a 10 year lease I am looking for 12m baht key money + 1m baht per year rent.

That is around 380,000USD + 30,000USD per year rent. If you have pounds or euro's it's a better buy as the $ is weak against the baht.

I am quite flexible and could lower the key money and raise the rent or raise the rent and lower the key money. As mentioned before I could do a good deal for someone prepared to pay a portion or all of the rent upfront.

Remember I built the nightclub from nothing, so I have paid for everything from the ground up. The sound and lighting alone cost more than 70,000USD, it really is a good deal for someone who is looking for a nightclub that has such a good reputation and also makes a profit. Plus as a bonus it is being refirbed now and ready to reopen as good as new in a couple of weeks. I will be running it until the lucky new owner whoever that is takes over.

I will still be on the island as I am about to start building a resort (Mint Resort), any buyer will have training and help from me and I will also use my contact to help with continuing the tradition of bringing in big name dj's. As the club shares the same name as the resort it is obviously in my interest to make sure it continues with the good name it hs built up.

As mentioned before please look at the website:

www.mintbar.com

If you like the look and think it's something that may be fun for you hit me a PM.

Also if anyone has any questions regarding business in Thailand, particulary nightclubs and bars let me know, it's a difficult bussiness to get into anywhere, countries such as Thailand need special care, but it is quite doable if you use your senses and take good legal advice.

Just don't put your business in the name of a local lady that you met a few nights ago!!!!

[excellentbars]

Samui

Thanks for the great information....This will definately help a prospective buyer :)

Great post with lots of info...I have never been to Koh Samui so I will have to pop in one of these trips....As a punter i am in the punter sections ;) of Thailand.............

Have you tried posting on Craigslist.com it is free and you get to the top of the search engines such as google fast!

my last thai GF she is big and she eats alot but I love her
http://i183.photobucket.com/albums/x188/visual4464/IMG_0502.jpg

Dinner time
http://i183.photobucket.com/albums/x188/visual4464/Picture131.jpg
out for the night
http://i183.photobucket.com/albums/x188/visual4464/Picture078.jpg
Cheers
Chris

[Ruben]

Staff salary:
Thai Manager - 500USD per month (this is a high salary as he is very good)
Bartenders - 230USD per month (again high as they are experianced)
Waitress - 180USD per month
All staff work 6 days per week

Thats extremly cheap i'd say. But then again i'm sure it seems a lot there.



Excellant Bars - Yeah thats mostly good advice you give there although a couple of things you are not accurate on........

Obviously having a good lawyer is essential, bangkok has several international firms, the firm I use JSM has offices in Hong Kong, China, Singapore etc, they are one of Asia's best firms, not cheap, but it is certainly worth the $ when doing business in a country like Thailand. It always amazes me how many people who seem to have there heads screwed on buy businesses here using 2nd/3rd rate lawyers or worse no lawyer at all when they have no understanding of the law or can even read Thai language.

1-Key Money this is Pre paid rent up front and is often HUGE $$$$$ then every year depending on your deal more Key Money!

Yes and no..... The norm is key money to take over the lease then Monthly or yearly rent till the end of the lease. A decent lease should then have an option to renew which could include more key money or just a rent re-negotiation.

In the case on Mint Bar (my nightclub) the lease I am offering is 10 years + option to renew. Key money is to be paid on Signing the lease and additional rent to be paid annually. For my lease the key money and rent is flexible, the more key money you pay the more I lower the rent, it's basically a way of getting a lump some back on my investment made building from scratch and fitting out the club. Not to mention the goodwill I have built up. The rent for the entire lease period will be laid out in the contract


2-Along with the key money you will still pay rent every month


Not if you pay the entire lease upfront, infact I will greatly reduce the rent for anyone who pays all or a portion upfront.


3-Foriegn ownership...You cannot own more than 50% of a business in Thailand so your lawyer will do his lawyer thing and you will need thai owners or partners for the coporation....


Yes and no, Firstly and most importantly foriegners can have their name on the lease and have the same rights as Thais for a lease up to a maximum of 30 years. But you cannot legally own the land itself, only lease it. For the company that employs the staff you do need thai partners but there is a loophole. Your lawyer will find nominess, they will sign the shares back to you and you are supposed to be activly seeking new investors. They no longer hold any shares in the company and as director you sign all papers. It's actually fairly straight forward and the company itself hold no assets. It just provides the work permits (up to 3 foriegners for Mint Bar) and pays the tax and insurance for staff etc etc.


4-There is no expensive $$$$ Liquor License's

Mint Bar has all licences needed and they cost in total around 150USD per year! Certain areas of Bangkok can have trouble getting licences for new establishments, lucklily samui being a tourist Island we can get all licences very easily. Once you have them given to the premises it's a formaility to renew annually for a nominal fee.


5-you must pay fee's for everything $$$$ small but they add up!

Not sure what you mean here, certain things may cost more but overall overheads are considerably lower in Thailand,
eg. Monthly at Mint Bar,
water - 40USD,
Electric - 350USD,
Tax on profit - 7%,
Staff salary:
Thai Manager - 500USD per month (this is a high salary as he is very good)
Bartenders - 230USD per month (again high as they are experianced)
Waitress - 180USD per month
All staff work 6 days per week
Printing is much cheaper here, so advertising costs for nights are much cheaper.


6-Most leases are very short 3 years max for small bars but usually 1 year at a time for many spots...

This is very true and such leases should be avoided. sometimes a bar will have a rolling 3+3+3, this is fine providing the contract states the rental terms for entire contract. Be careful of any contract only mentioning rent for a portion of the lease.

five or six years is considered a decent lease for a bar in Thailand. Mint Bar is available with 10 years + option for renew.


7-You will need an foriegn work permit from the business

This is true although if you set the business up properly and pay tax as you should work permits are a formality. I am selling the nightclub with a company that already has 3 work permits. I use one myself, one for a western manager who deals with customers and one for a malaysian who takes care of the dj box, flyers and guest dj's. They could quite easily be used for 3 western partners.


For Mint Bar on a 10 year lease I am looking for 12m baht key money + 1m baht per year rent.

That is around 380,000USD + 30,000USD per year rent. If you have pounds or euro's it's a better buy as the $ is weak against the baht.

I am quite flexible and could lower the key money and raise the rent or raise the rent and lower the key money. As mentioned before I could do a good deal for someone prepared to pay a portion or all of the rent upfront.

Remember I built the nightclub from nothing, so I have paid for everything from the ground up. The sound and lighting alone cost more than 70,000USD, it really is a good deal for someone who is looking for a nightclub that has such a good reputation and also makes a profit. Plus as a bonus it is being refirbed now and ready to reopen as good as new in a couple of weeks. I will be running it until the lucky new owner whoever that is takes over.

I will still be on the island as I am about to start building a resort (Mint Resort), any buyer will have training and help from me and I will also use my contact to help with continuing the tradition of bringing in big name dj's. As the club shares the same name as the resort it is obviously in my interest to make sure it continues with the good name it hs built up.

As mentioned before please look at the website:

www.mintbar.com

If you like the look and think it's something that may be fun for you hit me a PM.

Also if anyone has any questions regarding business in Thailand, particulary nightclubs and bars let me know, it's a difficult bussiness to get into anywhere, countries such as Thailand need special care, but it is quite doable if you use your senses and take good legal advice.

Just don't put your business in the name of a local lady that you met a few nights ago!!!!

[excellentbars]

Hey Ruben


Staff salary:
Thai Manager - 500USD per month (this is a high salary as he is very good)
Bartenders - 230USD per month (again high as they are experianced)
Waitress - 180USD per month
All staff work 6 days per week

Thats extremly cheap i'd say. But then again i'm sure it seems a lot there.

The average wage in Thailand is $5 usd per day......

500 USD is 16,000 to 17,000 bath per month.........This is a very good salary for a Bar/Club in Thailand.....

Ruben you need a fact finding trip....to make sure that this a great deal and then you can verify for all of us :D

[Ruben]

Hey Ruben

Ruben you need a fact finding trip....to make sure that this a great deal and then you can verify for all of us :D

Lol Will you pay for my flight ill go :D hehe

[monkee28]

i would go since i am closer than everyone else. (Australia)
From the photos it looks quite nice.
Just wishing i had the money

[RyanTheTerrible]

was just looking into a similar thing the other day, then I did a google search


http://www.retire-asia.com/thai-bar.shtml

Some food for thought. The author says that the thai's stack the deck so the foreigners can never really "make it" there. Make sure you know what you are getting in to! That said, i've heard nothing but good things about koh samui. I really enjoyed thailand for the most part when I was there. The women are gorgeous and the people are usually quite friendly.

Speaking of Koh Samui, I was planning on going there to train at WMC camp. I will be sure to stop by your place this fall if my schedule allows.

[Crazy Mike]

Samui

Thanks for the great information....This will definately help a prospective buyer :)

Great post with lots of info...I have never been to Koh Samui so I will have to pop in one of these trips....As a punter i am in the punter sections ;) of Thailand.............

Have you tried posting on Craigslist.com it is free and you get to the top of the search engines such as google fast!

my last thai GF she is big and she eats alot but I love her
http://i183.photobucket.com/albums/x188/visual4464/IMG_0502.jpg

Dinner time
http://i183.photobucket.com/albums/x188/visual4464/Picture131.jpg
out for the night
http://i183.photobucket.com/albums/x188/visual4464/Picture078.jpg
Cheers
Chris

Man that's one big lobster!

How was the "C O C K"? ROFLMFAO

[samui]

Mint is still available, there have been a few time wasters and a few offers in the early stages at the moment that may result in a sale.

Obviously Thailand has had some problems lately, both politically and knock on effect from the financial crisis.

However Mint is still profitable, it even managed to be slightly above breaking even during the worst of the crisis.

If the club can manage this when all around business are closing and failing to profit then it is obviously a sound investment.

Many offers I have had have been from bargain hunters expecting a cheap deal.

To me it is still providing healthy returns so if anything it's value is higher as there is clear evidence that it can weather the storm.

With the loss of many bars here I expect the next high season to be a really good one.

As always times of hardship weed out those with poor business models and those left reap the rewards.

I have a daughter now and the hrs really do not suit me, so I am more motivated to sell now.

There is also the opportunity of 4 X 25 % shares.

PM me for more info.

[excellentbars]

Sumui

Congrats on the Daughter! hope everything is good, I just spoke to my friend who lives in Thailand he is an Expat, and he said in all of his years that it has never been so slow in the low season. I hope you can find a buyer or make some exceptions to sell portions or a portion to someone as this is a horrible time in Thailand with all of the stupid problems that plague that country and its people.
Wow this post has been up 3 years! I needed to reread it to remind myself what was going on....old age!

Cheers

[samui]

It has been up a long time, but there have been those that fell throuhh due to shortness of funds from recession, a few time wasters, plus people offering silly prices, bargain hunters, like I said, if it can remain profitable now then surely that increases it's value??

Far as I'm concerned eigher sell the whole lot, or sell shares to people with some skills to offer.

This month we still grossed over 500,000k baht, and profit will be around 150k. That ain't bad considering most places are empty.

If anyone serious wants to do a site visit, we can then go through the books.
it would be good for commercial propert fund, it has a 7 year track record of profit, return of other 35%, aveage, even more in high seaon.

Whist many tourist places are closing down, over 50% of out clients are local thai and expat.