If you liked that interview then check this one out. It’s about how a British entrepreneur made a fortune in Thailand & Laos th-cam.com/video/wJSZLCFAqsk/w-d-xo.html
In all my years in Thailand this story is not unique. Without talking too much my buddies back in the 80s and 90s I how can I say this politely. I made a living from a thai. I traveled there many times for free all expenses covered. We bought a house for 20000 ca$ 400000 baht . I put in $3000 ca she 17000 . When we sold it for 380000 baht 2 years later . I received half. But we had a problem I do not want to go into but the police wanted 200000 . I told my wife tell them we only have 160000. They took it but we still made profits. . Wife wasn't happy but i convinced her. Remember how much you are making in my country. What do you want jail or pay and move on . We moved on . This went on for 6 year til we parted. She still lives in my country. I now have a wonderful Filipina wife and happy 27 years later. Everybody is happy. I only giving a snippet of my years there. My crazy life. When I was in my 20s and 30s. . I moved on and have found memories.
This one was the best yet. This guy was brutally honest, even at his own expense, which I really respect. And he's s great story teller I could have happily listened to several episodes of this. He may not have the best business brain I don't know but certainly got a gift as an orator.
The problem comes at 22:08 when he said "the boss" is asking you to do something, he thought he was her boss, but as the 51% owner she didn't see it that way .
This guy has a lot of humility to share his story. He hit the nail on the head with come to Thailand to spend money and not make it. Great interview. This guy has the attitude to survive anywhere. Much respect to him.
I worked for a Thai facade company for 5 years and I was thinking of setting up a business there,Soon as I heard you need a local Thai and they must own 51% of the company without laying out a penny ,that was it for me
It's not as bad as it seems. Companies must be technically structured as 51% but this is done with their shareholders tificate signed but not dated so you have ownership. The key here is to make sure there are multiple Thais that make up the 51% and that they do not know each other. Lawyers handle this and usually these nominee shareholders recieve a small fee. This is how every foreigner owns land and businesses here and it's seems to work pretty well.
Racist Asians, could you imagine if Western countries did this to Thai people when they come here to do business? They even have signs on their UNESCO world heritage sites where it says Thai people admission 5 Batt or whatever and foreigners 30 Batt.
I should clarify this is even the case for foreigners who are even naturalized Thai citizens too. So if you look non Thai you still get charged more. Absolute racism.
Smart move. Their xeno attitude and Thai "laws" is a loser deal, 100%. You are better off in South America, where you can own your own property. Reciprocity in civil and property rights. Fair is fair. "Asia is OVER."
Similar problems in Philippines, lazy, unthinking, not a scrap of initiative and officials constantly trying to extort money. Simple answer: DONT DO IT.
@@richardfox2865 So they are not an "ally." Why are they still getting free "aid" and defense support from the West? Reciprocal, fair, two-way treatment for expats is what a real "ally" would do.
I left Phuket ( greed island) in 95. I was working in Bangkok and I went back for a visit after 6 or so years. So glad I left! The place has gone crazy! No more visits again!
@@ThairishTimes When I was fist there in 82 the attitude was 'look after the foreign visitors well as that is our future'! Not a bad way of thinking! Fast forward to late 90's --'It's open season on Farangs! Starts at the airport and doesn't let up!
This interview shows why it's important to know the culture and language if doing business and a foreign country. Knowing Thailand, I understand the mistakes he made.
Great interview, great story, it's nice to finally hear someone be honest on TH-cam about Thailand as it's very rare nowadays, I know loads of stories much worse than this but it's great to hear someone tell the truth! And openly speak about it on TH-cam, the corruption and the scams in Thailand especially Phuket are more common than fish and chips in England 😬 kudos to this guy and kudos to you also to interview him and post this kind of content on TH-cam it's a much needed breath of fresh air to hear some honesty from a foreigner in Thailand about his experiences ✅✅✅ I've spent 6 years in Thailand could write a book about the stuff I have experienced and heard 😱
I was going to Thailand on and off since 2001 , in 2013 I went to Phuket …. what a dump! I really didn't feel welcome , scamming taxi drivers endless massage offers . Would never go back , didn't feel safe either . I love honest people and this guy is totally honest .
I also went with my Chinese girlfriend in 2013 to Phuket. It is OVER COMMERCIALIZED, though we loved the sea and island adventures. We had half our holiday in Bangkok. By 2015 I'd left China and moved here.
Back in 1989 I remember saying to my Chiang Mai wife . One day this beautiful country will change. And I think that time has arrived. Everybody wants to go live the dream. Or do short term plans if you know what I mean. It still has its charm but its not what it used to be. I think thai hospitality is slowly wearing off.
Aussie in Chiang Mai here mate...... well done T Sun, I really appreciate your honesty and totally understand your experiences..... definitely gives one plenty to think about re business in Thailand.... I’ve been teaching here in CM for the past few years, at a very prominent kindy to Yr12 school (long time academic, 25 yrs in total, in Oz, South Korea, Middle East University’s as Assistant Director and 2yrs in CM).... here I would see things academically AND morally, all made with ad hoc decisions, so would proffer obvious instantaneous solutions, that were ALWAYS REJECTED by the ‘management’ team, for one simple reason; the solutions were coming from me. They will NOT ACCEPT a falung coming up with solutions that they would never even think of. A month or so would pass and BINGO, they would introduce what I had recommended previously, all dressed up in their Thai version of aforesaid recommendations, yet still not being able to actually deliver the recommendations or work toward positive outcomes, because they have no idea what comes next. It’s that whole cultural issue of shame and incompetence rolled into one. One long term falung reckons it’s because they have never been invaded or controlled by other countries. Historically, it has always been THAI WAY or the HIGHWAY... I would try to get the ‘management’ team to see the reasoning for trying this or doing that, but I always felt it was like a, ‘yeah yeah falung, don’t tell us what to do in our own country’ sort of vibe. In my HO, as long as that “vibe” exists, Thailand will always remain behind the eight ball in business and education. Oh, and the Thai education system, is all about how much money can they fleece from the parents for fees, books, uniforms, sundries et al, whilst ‘delivering’ sub standard learning opportunities for the students, which is code for a well thought out curriculum.. Just my two bobs worth.... THANK YOU heaps for your honesty mate and wish you well....... cheers to Mr Thairish Times for another solid interview...... great work lads, 🍺🍻🍺.........
If you have an engineering degree, you don't do a doctors job. Point is, people should use their skills to their advantage. A foreigner who knows nothing about local market, should not compete with locals. They'll beat him any day. Restaurant business is tough even for locals. a foreigner running it, without some local support, is disaster waiting to happen.
Not necessarily true. A lot of locals in these countries have no idea how to cater to foreigners and cant even comprehend the most basic things that need to be done. As a foreigner you have the upper hand because even little things like washing your hands before handling food is normal to you but not for them
Business in Thailand is best left to Thais and foreign billionaires. The stories of failed foreign owned businesses in Thailand are endless and IMHO half the time the problem is the country and culture itself.
I hear this all the time yet there are many businesses here on Koh Chang foreign owned. The common theme seems to be they all have Thai wives. Maybe this is the secret to it, a shrewd wife who you can trust that will deal with the staff and locals. I don’t think Thais like to be told what to do by a farang
@@b4bmm just because things appear to be working out now doesn’t mean they are or that problems won’t arise. Of course it can be done, but the more successful you become the more dangerous the situation.
@@nathanv23 These businesses have been on the go for 10 years including getting through the last two years, I think its safe to say they know the secret sauce. They aren't making a fortune from what I can tell, at least not nowadays but I dont think that's the main goal for most of these people.
@@b4bmm I've heard this also, Thai's get really the huff when being told what to do by a farang. They keep it inside for ages with resentment growing each day until it bursts
I hear you, brother. Not just Thailand where this kind of thing happens. Pretty much in every developing country you'll experience this. Friends who have tried to set up businesses in South America all have similar stories. Live and learn.
I've spent the last two decades in Central and South America and have never heard anything as bad as this. Your foreign boss isn't allowed to give you any orders or instructions when you're his employee? That's absolutely ridiculous.
Great to see the two "Thairish" dailies finally meet !!! 😂 😂 😂 This is definitely the kind of thing anyone thinking of starting a business here should watch before coming !!! 👍 👍 👍
Hi mate, Ive been living here for around 25 years, on and off as worked on ships now offshore so come and go. When I first came became friends with guy who had a bar in Phuket and he gave me 2 bits of advise I have never forgotten (although I have broken them on occaisions and ALWAYS regretted that!!) 1. Never invest anything in Thailand you are not prepared to lose. 2. Always remember you are a guest in this country and stay at their convinienence which they can remove at any time. DAVE
From this interview and the way how he speaks, I can see why he had problems with Thai people in that business environment, he's talking to thai people like he's talking to a Brit, thai people would think he's disrespectful. I think his personality would make him successful in America. good work ethic and direct
What you mean in America? That a continent .. if you think about United States I can tell you there is a strong labor law protect employees and employers has to talk respectful to their staff.
So true about opening a business- especially in Thailand where your Thai staff has no idea of what good customer service is ( training is important if they can handle criticism or advice); most have been conditioned in being told what to do - not take charge of things ( due to their education system that does not encourage independent thinking or collaboration); and if the staff is paid minimum wage, it’s easy for them to leave and go elsewhere. All the restaurants and bars “owned” by foreigners I know that are successful, the farang owner has to be there every day. No time to golf, no beach, not much time to relax.
I can relate so much to that last bit. I spent Four years travelling and when I came back to Yorkshire no one wants to know about it. Not even family ask any questions.
Mate I feel the same as you here in Scotland, just binned my job I wasn't happy in n negotiating in my mind to come out to retire in isaan with my thai wife...yes it's gelously poeple are btw..I admired your honest story..bang on..👍
Good stuff, thank you guys, I married a thai, did not work out, but our daughter stayed with me since 6 months old, she is now 25. not sure what it is about Thailand , it sure put a spell on me, cheers thanks.. Pop's FL. usa
Another interesting interview……..not that you had to say much Pete, as he clearly had a lot to get off his chest. Love the guys straight talking and honesty. Some real lessons learned there about doing your research before starting a business, particularly in Thailand. Nice to see him still on Samaui. Let’s hope he manages to find ways of earning enough to stay.
you have done a great service with this video, well done. Farangs beware. If you want to start a business here, just don't. Maybe the people telling you negative things are just telling you the truth. People telling you to just go for it, who are not investing their own money , are really the people to avoid.
Depends on the business. Cafes and Restaurants are notoriously a tough business without all the added farang restrictions. I'm in the process of building my own b2b app on a subscription model. Here I can be in Thailand with Thai customers, but not set up a Thai company as I can claim it's an online business. Technically illegal, but it's grey enough to get away with
You're right, its illegal. I said in my post to avoid advice given by other people about businesses here. You are giving advice and its illegal. Rather proves my point. Who would take advice from someone who is acting against the law here? @@ctb1977
Brilliant what a story, He's still there really glad to hear that, Never knock the guy for changing his life for the better, but what a struggle, honest with it to, best of luck to him, great interview loved it 🏖️😎🍻
Wise (in retrospect) words and a warning to all that think they can come here and make a ‘successful’ business in a country where you are ignorant of the ‘rules’ and doing it in a sector you have no practical experience in. Staff can delight in costing you cash or making you stressed. Land lords can put rent up on busy places as a sort of success tax. Land lords can kick you out after you’ve refitted a ‘shop’ to get more rent from next tenant. All the best T Sun, thanks for the honesty and hope it works out for you.
16:40 onwards it gets seriously intense! Incredible Storytelling. I was absolutely glued to the video. He should write a book on this experience. It will fly off the shelves! LM
This is so true, my boyfriend trains at Tiger brought the monthly package and so on and so forth. We don’t live at “tiger street” but I totally see what you’re getting at. Most people don’t leave the street it has everything there for them as fighters.
Wow Koh Samui has changed a lot! I was there back in '98 and stayed at a place called Charlie's Huts on Chewang beach. They were literally wooden huts on the beach, with no hot water (they had a large water tank that was heated by the Sun and it was used for the showers), no flushing toilets (you pee'd or pooped into a concrete hole and had to use a bucket of water to flush/clean the hole afterwards) and the electricity to the huts would be turned on when the sun went down and turned off again at sun rise (the huts were a little bit reminiscent of the huts in the UK t.v. series Tenko aired during the early '80s) . However, the place was dirt cheap (prices ranged from 100 through to 300 Baht at night) and you where literally on the beach. So really popular with back packer tourists. There was a restaurant on Chewang beach called the "Islander", which was the only place that did Farang food such as fish and chips, baked potatoes, baked beans and even had tomato ketchup, and sold diet coke! I think the "Islander" was owned and run by an English ex-pat and his Thai wife.
Having been away from the UK for 7 years in Kazakhstan, China and Thailand, my friends and family did really ask me what it was like to live in China. This amazed me that your weren't interested or would even ask. Just like your guest commented. Great interview, I love to hear "Business" stories about success and/or failure having had my own business adventures. Thanks Pete.
Very interesting interview. Right after the tsunami of 2004 a friend and I managed to get a small hotel in Patong Beach. Obviously tourism was way down as everyone had fled, but once the water receded we moved down to Phuket to check out the situation. We ran that place for about six months, but tourism didn't bounce back much, so we got rid of it. We never made any money during that time, but it was a learning experience for sure, and we were lucky in that we had a couple of decent Thai staff who didn't require a lot of prodding. I moved on to China where I worked from 2005 till the pandemic began, and that was a lot better than my Thai business experience. Now I'm back in Thailand on a retirement visa and thinking of what to do next . . . .
@@LaVoixdEnki I was a writing instructor at a teaching college in Guangdong for 15 years. The benefits of that job far outweighed what I was doing in Thailand. Unfortunately, when the pandemic struck I was outside China and haven't been able to return since. I may return to that job if China ever drops the "zero-COVID" nonsense, but for now I'm going to be staying in Thailand working on a software development program.
Thanks for sharing the real life story of a restaurant with partners. Please do more of these startup reflections. This kind of dream to have your own business is very common when falling in love with Thailand and its people.
Finished watching the video. Great honest Man there. You could see he's still pissed off inside. But at least he tried. Trying and failing is okay. Sitting and thinking what if. Is 100 times worse.
Great interview. Super decent genuine guy who has had an invaluable experience that both he and the rest of us can learn from. Thanks for sharing as this is really insightful for anyone doing the same. It highlights the pitfalls of the business structure that is required in thailand. Hope it works out for this dude!
Wow Pete , another awesome interview. Loving all your videos mate. And wow, what a story The Thairish Sun had to tell. Such a humble guy. I truly hope he has a bit of luck comes his way, sounds like he certainly deserves it. Like him, i like to see people do well. Cheers Pete
amazing scoop, Pete. wonderful chat. Irish people really tell interesting stories. i could sit here for 2 hours and listen to you lads - as if i was at the pub kind of eavesdropping....
I started a business in Thailand over a decade ago, doing professional IT services. It’s very tough but there is money to be made. Like from this guys experience, my advice is have a good Thai partner. I have my wife, it makes things much easier to get Thai customers, manage staff, and manage other day-today stuff. I started alone, but having someone I trust and local in the business helped a lot.
The wife and run a medical clinic here and finding good staff is hard. Once we find a good one we pay big salaries and treat them all well. Within a week of recruiting a new worker we know if it will work or not. We always pay them hourly rate part time. It’s easier to sack them. One thing to remember is that no matter how well you treat them they will quit without notice whenever they want. Usually after new year’s someone quits! Happens every year to us
Great video Pete. Love hearing stories from entrepreneurs in Thailand. He has a great story an is very well spoken. I have own many businesses in the USA myself. Hopefully Thailand is next. It great that he is open to talking about the good, bad and ugly. We all make mistakes starting out. Just need to learn from those mistakes. Another great video mate!
Whey! go on the lads, the two best Irish youtubers in Thailand. Love this guys channel it deserves far more subscribers. Was one of my virtual travel 'go to' when I was stuck in lockdown. Comes across as sound a fella here as he does on his channel. 👍
Thank you for sharing Pete's Irishman guest... Sometimes, blood line runs not as thick as money is, be optimistic change your environment, ASEAN is wide and you will meet the right people for sure...
the 49/51 shareholding structure only bad for foreigner IF the company only had common share (1:1 voting, pro rata dividend) since the company is controlling through the "voting" of the shareholders. if you hold preferred shares (which could be set up to be 1:100 voting with preferential rights on dividend) coupled with a proper SHA (shot gun provision included) you are having 100% control over the company and dividend. You're welcome
Had a cafe/restaurant in Cambodia - not as bad as Thailand, you can never ask enough questions - the profit in food is tiny and costs are constant. Loyalty is not such a big thing in Asia.
Hi there @Thairish Times. Greetings to @Thairish Sun as well. I love both of your contents. Real stories. Real experiences. The real deal in my books. 👍🏼
When I was in Koh Samui I followed Thairish Suns videos and went to the places in his videos. So good 😊 especially the temple in the mountains 🏔 good times xxx
Big up on this video. Everything that you are talking about is exactly what I heard or experienced myself. From the business story to people who wants to drag u down with them. I came to Thailand 6 years ago on a vacation and since then I'm stuck. =)
If you can afford solid property in Phuket or Koh Samui it’s a much safer business, occupancy rates on airbnbs are amazing even during Covid. Thai will be majority share holder of the company, however there shares will have 1 voting power and your shares will be 10 voting power each. If you do 75% Thai share holders the Thai govt do not report or info share with foreign governments. January this year Thailand signed agreements to share business, banking, and investments with your home government and any government who requests it. However if the holding company of your property is 75% Thai shareholders this new rule is void. You can still maintain heavy majority of power and voting power.
31:39 I had a bar in Chiang Rai back in 1987 and someone asked me a question about opening a business in Thailand to which I provided that exact same advice. I was lucky to have had the opportunity to sell the business shortly thereafter and find proper work in Bangkok. As a footnote at the time I was told that I was the first farang in Chiang Rai to receive a work permit. Not sure if it was true.
Great video / topic. There needs to be more of this in SE Asia. Not many open conversations about the trouble doing business in SE Asian countries. Too many assumptions and false expectations. Tip of the hat to the guest for being open, honest, and sharing. People really need to think things through before starting a business in SE Asia.
A Really True Storytelling . It always looks so very nice, easy and successful , but that’s not true. And many more westerners who have a business are suffering. Only a few are successful. Good interview Pete. 🙏
Good interview, sad story, but very common, the internet is full of stories like this, starting a business in a foreign country like Thailand is a recipe for disaster, if you travel to a place like Thailand and need to make money you are at a huge disadvantage. You need to bring enough money with you to survive, unless you are fortunate enough to have a good job in Thailand, maybe teaching English, but even that is not enough to survive really. Also, this person you interviewed admits he drinks a lot of alcohol, that causes depression, or at the very least adds to depression, I am always amazed at foreigners in Thailand (and other places) they complain about depression and admit to drinking a lot, that is like pouring gas on an open flame. Happiness is only achieved by helping others, the more we do for others the happier we are, PERIOD. There is no place for alcohol and drugs in my life, my health is way to important
I went back to find the part that where he said he drinks a lot. He didn’t say it. What he said was “I think a lot and it’s not too good to have too much time on your hands”
@@ThairishTimes At the beginning he said I was so shy I could not perform unless I drank a lot "I used to have to get drunk before I could go on stage", he said he suffers from depression, maybe he does not drink alcohol much anymore, but he was drinking a beer during the interview, if you suffer from depression, drinking any alcohol is going to make your depression worse
Great interview, the chap you spoke to seems like a sound lad and reminds me of myself living in Dublin, it is extremely negative. I was in Thailand 4 times and was recently considering opening a business there, but after hearing this it reminded me that many Thai people just look at us foreigners as bank machines and want easy money which is a major turn off.
This is a normal problem for the people who want to do a business in Thailand, and it happens to any Thai owners too. Own business here never be easy and it's alway very high competition, I found it a lot more easier to open a restaurant in the USA. And in Bangkok it's a lot more harder to do a business because a lot of Bangkok people who do not want to open their businesses among crazy high competition vibe then they open their businesses in the country side like Pattaya, Koh-Pa-Ngan, Phuket, Samui, Chiangmai, Chiangrai because you could have more chill vibe there and ofcourse lower competition and you do not have to pay a lot for your business, people in Bangkok called them "Slow life business", many of my Bangkok friends did like this too but if you do not have a luck you have to be very very patient to be a millionaire, But here in Bangkok you have to have money first if you want to play around here and there's nothing to guarantee you could do this business for short or long-term, many businesses here around my area in Bangkok are always change although many of them lost over 10 millions Baht(us$300,000) for their dream businesses because you have to be very unique or very shine to do business in long-term here and I'm not even talking about the skill. But if you have the skill and unique and shine all together and want to own business in Bangkok then you need nothing. Example, the street food vendor girl who sell only squid stick opposite the Bangkok town hall earns more than 1 million a month(us$30,000+/month).
Customers are key to success,you needed to adapt your menu,to suit the people who would frequent those gyms,you needed to offer healthy organic muscle building foods,
Great interview. Compelling real life story. Feel bad for that guy, hope he more thoroughly investigates any new foreign biz ventures, and that he has a successful experience. Thanks for sharing
"Hindsight is 20/20 and you can see the mistakes....." Yeah!! This guy's business was 1 big mistake. No money, no experience, no market research, no business plan, no language skills, no cultural understanding, no network of friends/associates. The most successful westerners in SE Asia are the ones who come with experience, financing and a well thought out business plan.
Live and learn.... Getting a lawyer to find a silent partner is probably more reliable than this... Keep your chin up start again because that's how we learn by mistakes and perseverance
Yeah I was glad he told his story too. This was unplanned. I had no idea what he was going to say so I really enjoyed listening and learning a thing or two from it
Been a regular in Thailand for 28 years and luckily saw through them from the start thankfully. Im still amazed though how many folks put themselves through hell simply because they haven,t grasped the true nature of the Thai. They are totally blind to the basic fact that a Thai will never let a farang be the overlord and more importantly make a successful business in their country unless they are a professional from their own, not some twopenny shop or bar owner. Its a no brainer...! But still the fool ls try.
FYI . If your going to use two cameras. They should both be on same side of that line . In your two shot he is looking left to right . But when you cut to single shot he is now looking right to left . The single camera should be on your left side . That’s considered technical correct . But up to you
Hiya Pete, I have been watching his channel for a while. Top bloke. Great interview. Great to hear his story. It will help many people. Great video. I hope The Thairish Sun gets the subscribers he needs to go live. He has worked so hard on his channel. I wish him all the best. Have a great evening.
first video of yours I've seen, I've never been to Thailand so this is like a speed lesson for me! I wonder how similar it is in Vietnam, I went to Nha Trang and it's a vibe
i sent up two companies in2016, there is a way of doing 51/49 to your benefit if you have a good Thai lawyer , they had 51 but I had sign off and sold the business after 3 years , I had them sign forms of consent whereby I had control , I signed them of as directors when I sold the companies
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
If you liked that interview then check this one out. It’s about how a British entrepreneur made a fortune in Thailand & Laos th-cam.com/video/wJSZLCFAqsk/w-d-xo.html
So one in how many thousands?
In all my years in Thailand this story is not unique. Without talking too much my buddies back in the 80s and 90s I how can I say this politely. I made a living from a thai. I traveled there many times for free all expenses covered. We bought a house for 20000 ca$ 400000 baht . I put in $3000 ca she 17000 . When we sold it for 380000 baht 2 years later . I received half. But we had a problem I do not want to go into but the police wanted 200000 . I told my wife tell them we only have 160000. They took it but we still made profits. . Wife wasn't happy but i convinced her. Remember how much you are making in my country. What do you want jail or pay and move on . We moved on . This went on for 6 year til we parted. She still lives in my country. I now have a wonderful Filipina wife and happy 27 years later. Everybody is happy. I only giving a snippet of my years there. My crazy life. When I was in my 20s and 30s. . I moved on and have found memories.
This one was the best yet. This guy was brutally honest, even at his own expense, which I really respect. And he's s great story teller I could have happily listened to several episodes of this. He may not have the best business brain I don't know but certainly got a gift as an orator.
Gift of the gab for sure
The problem comes at 22:08 when he said "the boss" is asking you to do something, he thought he was her boss, but as the 51% owner she didn't see it that way .
i would only do business in thailand if the thai person give in the 51% cash. if she was not putting 51% cash in , she is not the boss.
He's a top lad,I couldn't help to lol when he was dismayed the girl went home after he told her to go home
This guy has a lot of humility to share his story. He hit the nail on the head with come to Thailand to spend money and not make it. Great interview. This guy has the attitude to survive anywhere. Much respect to him.
I worked for a Thai facade company for 5 years and I was thinking of setting up a business there,Soon as I heard you need a local Thai and they must own 51% of the company without laying out a penny ,that was it for me
It's not as bad as it seems. Companies must be technically structured as 51% but this is done with their shareholders tificate signed but not dated so you have ownership. The key here is to make sure there are multiple Thais that make up the 51% and that they do not know each other. Lawyers handle this and usually these nominee shareholders recieve a small fee. This is how every foreigner owns land and businesses here and it's seems to work pretty well.
Racist Asians, could you imagine if Western countries did this to Thai people when they come here to do business? They even have signs on their UNESCO world heritage sites where it says Thai people admission 5 Batt or whatever and foreigners 30 Batt.
I should clarify this is even the case for foreigners who are even naturalized Thai citizens too. So if you look non Thai you still get charged more. Absolute racism.
Smart move. Their xeno attitude and Thai "laws" is a loser deal, 100%. You are better off in South America, where you can own your own property. Reciprocity in civil and property rights. Fair is fair. "Asia is OVER."
@@ShayneMicchia It never works!!!!
Similar problems in Philippines, lazy, unthinking, not a scrap of initiative and officials constantly trying to extort money. Simple answer: DONT DO IT.
Agree. Earn all your money first... then enjoy the Philippines. Don't even think about a business... well unless you want to lose all your money 😊.
@@richardfox2865 So they are not an "ally." Why are they still getting free "aid" and defense support from the West? Reciprocal, fair, two-way treatment for expats is what a real "ally" would do.
I left Phuket ( greed island) in 95. I was working in Bangkok and I went back for a visit after 6 or so years. So glad I left! The place has gone crazy! No more visits again!
Everybody is hustling in Phuket
@@ThairishTimes When I was fist there in 82 the attitude was 'look after the foreign visitors well as that is our future'! Not a bad way of thinking! Fast forward to late 90's --'It's open season on Farangs! Starts at the airport and doesn't let up!
C#nt of a place
This interview shows why it's important to know the culture and language if doing business and a foreign country. Knowing Thailand, I understand the mistakes he made.
Great interview, great story, it's nice to finally hear someone be honest on TH-cam about Thailand as it's very rare nowadays, I know loads of stories much worse than this but it's great to hear someone tell the truth! And openly speak about it on TH-cam, the corruption and the scams in Thailand especially Phuket are more common than fish and chips in England 😬 kudos to this guy and kudos to you also to interview him and post this kind of content on TH-cam it's a much needed breath of fresh air to hear some honesty from a foreigner in Thailand about his experiences ✅✅✅ I've spent 6 years in Thailand could write a book about the stuff I have experienced and heard 😱
I was going to Thailand on and off since 2001 , in 2013 I went to Phuket …. what a dump! I really didn't feel welcome , scamming taxi drivers endless massage offers . Would never go back , didn't feel safe either . I love honest people and this guy is totally honest .
I also went with my Chinese girlfriend in 2013 to Phuket. It is OVER COMMERCIALIZED, though we loved the sea and island adventures. We had half our holiday in Bangkok. By 2015 I'd left China and moved here.
Back in 1989 I remember saying to my Chiang Mai wife . One day this beautiful country will change. And I think that time has arrived. Everybody wants to go live the dream. Or do short term plans if you know what I mean. It still has its charm but its not what it used to be. I think thai hospitality is slowly wearing off.
Go to the north of Thailand. It's not overrun with foreigners. The locals are really loving.
I agree but they've a 'different' relationship with royalty and so on.
Thailand is basically tribal.
@@SEdwards1000 better. yet, go to Isan. It's really hard to have an authentic experience in places like Samui and Phuket.
Aussie in Chiang Mai here mate...... well done T Sun, I really appreciate your honesty and totally understand your experiences..... definitely gives one plenty to think about re business in Thailand.... I’ve been teaching here in CM for the past few years, at a very prominent kindy to Yr12 school (long time academic, 25 yrs in total, in Oz, South Korea, Middle East University’s as Assistant Director and 2yrs in CM).... here I would see things academically AND morally, all made with ad hoc decisions, so would proffer obvious instantaneous solutions, that were ALWAYS REJECTED by the ‘management’ team, for one simple reason; the solutions were coming from me. They will NOT ACCEPT a falung coming up with solutions that they would never even think of. A month or so would pass and BINGO, they would introduce what I had recommended previously, all dressed up in their Thai version of aforesaid recommendations, yet still not being able to actually deliver the recommendations or work toward positive outcomes, because they have no idea what comes next. It’s that whole cultural issue of shame and incompetence rolled into one. One long term falung reckons it’s because they have never been invaded or controlled by other countries. Historically, it has always been THAI WAY or the HIGHWAY... I would try to get the ‘management’ team to see the reasoning for trying this or doing that, but I always felt it was like a, ‘yeah yeah falung, don’t tell us what to do in our own country’ sort of vibe. In my HO, as long as that “vibe” exists, Thailand will always remain behind the eight ball in business and education. Oh, and the Thai education system, is all about how much money can they fleece from the parents for fees, books, uniforms, sundries et al, whilst ‘delivering’ sub standard learning opportunities for the students, which is code for a well thought out curriculum.. Just my two bobs worth.... THANK YOU heaps for your honesty mate and wish you well....... cheers to Mr Thairish Times for another solid interview...... great work lads, 🍺🍻🍺.........
Thanks mate. I enjoyed reading this. All the best
Ha ha. It's the same in China regarding the schools. They have no clue what to do and then a foreigner tells them and they ignore it.
So, what you are saying and confirming is that they are 'WAYCISS.' And xeno, in the extreme. The whole world should know this.
If you have an engineering degree, you don't do a doctors job.
Point is, people should use their skills to their advantage.
A foreigner who knows nothing about local market, should not compete with locals. They'll beat him any day.
Restaurant business is tough even for locals. a foreigner running it, without some local support, is disaster waiting to happen.
Not necessarily true. A lot of locals in these countries have no idea how to cater to foreigners and cant even comprehend the most basic things that need to be done. As a foreigner you have the upper hand because even little things like washing your hands before handling food is normal to you but not for them
Business in Thailand is best left to Thais and foreign billionaires. The stories of failed foreign owned businesses in Thailand are endless and IMHO half the time the problem is the country and culture itself.
I hear this all the time yet there are many businesses here on Koh Chang foreign owned. The common theme seems to be they all have Thai wives. Maybe this is the secret to it, a shrewd wife who you can trust that will deal with the staff and locals. I don’t think Thais like to be told what to do by a farang
It´s easy to create a small fortune in Thailand if you start with a big one
@@b4bmm just because things appear to be working out now doesn’t mean they are or that problems won’t arise. Of course it can be done, but the more successful you become the more dangerous the situation.
@@nathanv23 These businesses have been on the go for 10 years including getting through the last two years, I think its safe to say they know the secret sauce. They aren't making a fortune from what I can tell, at least not nowadays but I dont think that's the main goal for most of these people.
@@b4bmm I've heard this also, Thai's get really the huff when being told what to do by a farang. They keep it inside for ages with resentment growing each day until it bursts
It's quite refreshing and more and more uncommon to learn of nations that put the citizens first.
I hear you, brother. Not just Thailand where this kind of thing happens. Pretty much in every developing country you'll experience this. Friends who have tried to set up businesses in South America all have similar stories. Live and learn.
I've spent the last two decades in Central and South America and have never heard anything as bad as this. Your foreign boss isn't allowed to give you any orders or instructions when you're his employee? That's absolutely ridiculous.
Genuine and admitting his own mistakes, wish Thairish Sun all the best
This guy is pretty honest about his travels. Well done fellas. I liked that chat.
Great to see the two "Thairish" dailies finally meet !!! 😂 😂 😂 This is definitely the kind of thing anyone thinking of starting a business here should watch before coming !!! 👍 👍 👍
Cheers Roy, us Thairish boys had to meet sometime
Hi mate, Ive been living here for around 25 years, on and off as worked on ships now offshore so come and go. When I first came became friends with guy who had a bar in Phuket and he gave me 2 bits of advise I have never forgotten (although I have broken them on occaisions and ALWAYS regretted that!!) 1. Never invest anything in Thailand you are not prepared to lose. 2. Always remember you are a guest in this country and stay at their convinienence which they can remove at any time. DAVE
Solid advice there buddy thanks for sharing
From this interview and the way how he speaks, I can see why he had problems with Thai people in that business environment, he's talking to thai people like he's talking to a Brit, thai people would think he's disrespectful. I think his personality would make him successful in America. good work ethic and direct
What you mean in America? That a continent .. if you think about United States I can tell you there is a strong labor law protect employees and employers has to talk respectful to their staff.
@@anna_m59lol shuttttttt uppppppp
So true about opening a business- especially in Thailand where your Thai staff has no idea of what good customer service is ( training is important if they can handle criticism or advice); most have been conditioned in being told what to do - not take charge of things ( due to their education system that does not encourage independent thinking or collaboration); and if the staff is paid minimum wage, it’s easy for them to leave and go elsewhere.
All the restaurants and bars “owned” by foreigners I know that are successful, the farang owner has to be there every day. No time to golf, no beach, not much time to relax.
Often Thai staff don't need references , so can decide to move on if they don't like things.
I can relate so much to that last bit. I spent Four years travelling and when I came back to Yorkshire no one wants to know about it. Not even family ask any questions.
@@V8VORLICH yes, very true.
Yes, it would be a distraction to their mundane lives
Cheers for having me on, mate! Now that we've covered my biggest blunder, we'll have to talk about something more positive if we ever do it again 😂
Hiya Mate, Yes, looking forward to watching this. Watching now
Mate I feel the same as you here in Scotland, just binned my job I wasn't happy in n negotiating in my mind to come out to retire in isaan with my thai wife...yes it's gelously poeple are btw..I admired your honest story..bang on..👍
Very interesting and funny. Subbed thanks for the interview 👌
It was a pleasure mate, we live and learn. It takes a brave person to talk about their mistakes on camera. Fair play to you
@@thaireetired75 you should follow your heart mate. It's a great country and isaan is very different to Phuket! Best of luck with it all 🙂
I had a similar experience running a restaurant in Ibiza. Suddenly all the hotels went all inclusive and that was it.
Good stuff, thank you guys, I married a thai, did not work out, but our daughter stayed with me since 6 months old, she is now 25. not sure what it is about Thailand , it sure put a spell on me, cheers thanks.. Pop's FL. usa
Cool story and best of luck to you
I've heard the same stories many times about Thai service staff unwilling to do anything beyond lifting a finger to help.
Another interesting interview……..not that you had to say much Pete, as he clearly had a lot to get off his chest. Love the guys straight talking and honesty. Some real lessons learned there about doing your research before starting a business, particularly in Thailand. Nice to see him still on Samaui. Let’s hope he manages to find ways of earning enough to stay.
That’s it mate, I knew he had the story all laid out and interrupting him would ruin the flow
This Sun guys sounds like a good guy with a lot of courage and tenacity. Up for taking risks. Good for him. I wish him a lot of luck in life.
Another great interview Pete. Fair play to his honesty about life and business here. So many crash and burn here, hopefully he will bounce back.
Cheers Don, I reckon he’ll be alright. He has a fighting spirit
you have done a great service with this video, well done. Farangs beware. If you want to start a business here, just don't. Maybe the people telling you negative things are just telling you the truth. People telling you to just go for it, who are not investing their own money , are really the people to avoid.
Depends on the business. Cafes and Restaurants are notoriously a tough business without all the added farang restrictions.
I'm in the process of building my own b2b app on a subscription model. Here I can be in Thailand with Thai customers, but not set up a Thai company as I can claim it's an online business. Technically illegal, but it's grey enough to get away with
You're right, its illegal. I said in my post to avoid advice given by other people about businesses here. You are giving advice and its illegal. Rather proves my point. Who would take advice from someone who is acting against the law here? @@ctb1977
Done the same in 1997 Got out in 2000 by the skin of my teeth moved to sakon Nakon and still here in 2022.
Running a business there?
I hope in the end everything work out for that guy who truly is a legend
Brilliant what a story, He's still there really glad to hear that, Never knock the guy for changing his life for the better, but what a struggle, honest with it to, best of luck to him, great interview loved it 🏖️😎🍻
Cheers Joe
Wise (in retrospect) words and a warning to all that think they can come here and make a ‘successful’ business in a country where you are ignorant of the ‘rules’ and doing it in a sector you have no practical experience in.
Staff can delight in costing you cash or making you stressed.
Land lords can put rent up on busy places as a sort of success tax.
Land lords can kick you out after you’ve refitted a ‘shop’ to get more rent from next tenant.
All the best T Sun, thanks for the honesty and hope it works out for you.
I like the practical realities and truths shared. Thanks much
16:40 onwards it gets seriously intense! Incredible Storytelling. I was absolutely glued to the video. He should write a book on this experience. It will fly off the shelves!
LM
Glad you enjoyed it mate
This is so true, my boyfriend trains at Tiger brought the monthly package and so on and so forth. We don’t live at “tiger street” but I totally see what you’re getting at. Most people don’t leave the street it has everything there for them as fighters.
haha brilliant! love it
Wow Koh Samui has changed a lot! I was there back in '98 and stayed at a place called Charlie's Huts on Chewang beach. They were literally wooden huts on the beach, with no hot water (they had a large water tank that was heated by the Sun and it was used for the showers), no flushing toilets (you pee'd or pooped into a concrete hole and had to use a bucket of water to flush/clean the hole afterwards) and the electricity to the huts would be turned on when the sun went down and turned off again at sun rise (the huts were a little bit reminiscent of the huts in the UK t.v. series Tenko aired during the early '80s) . However, the place was dirt cheap (prices ranged from 100 through to 300 Baht at night) and you where literally on the beach. So really popular with back packer tourists. There was a restaurant on Chewang beach called the "Islander", which was the only place that did Farang food such as fish and chips, baked potatoes, baked beans and even had tomato ketchup, and sold diet coke! I think the "Islander" was owned and run by an English ex-pat and his Thai wife.
Cool, it sounds so different. Now there are big resorts on the beach. I think Koh Chang still has what you experienced in ‘98
@@ThairishTimes Tiger hut at Koh Chang
Sounds like the same Charlie's hut on Phi Phi 20 years ago.
Now you go on beach Rd no beach insight
Always best to set up your income flow before moving overseas. The worst time to set up your life is when you’re stressed over finances.
Having been away from the UK for 7 years in Kazakhstan, China and Thailand, my friends and family did really ask me what it was like to live in China. This amazed me that your weren't interested or would even ask. Just like your guest commented. Great interview, I love to hear "Business" stories about success and/or failure having had my own business adventures. Thanks Pete.
I've experiened the same in Ireland David and yes it amazed me too. I never hung around long enough to know why
Very interesting interview. Right after the tsunami of 2004 a friend and I managed to get a small hotel in Patong Beach. Obviously tourism was way down as everyone had fled, but once the water receded we moved down to Phuket to check out the situation. We ran that place for about six months, but tourism didn't bounce back much, so we got rid of it. We never made any money during that time, but it was a learning experience for sure, and we were lucky in that we had a couple of decent Thai staff who didn't require a lot of prodding. I moved on to China where I worked from 2005 till the pandemic began, and that was a lot better than my Thai business experience. Now I'm back in Thailand on a retirement visa and thinking of what to do next . . . .
Did you moved back to China for open up a restaurant or work for a company.
@@LaVoixdEnki I was a writing instructor at a teaching college in Guangdong for 15 years. The benefits of that job far outweighed what I was doing in Thailand. Unfortunately, when the pandemic struck I was outside China and haven't been able to return since. I may return to that job if China ever drops the "zero-COVID" nonsense, but for now I'm going to be staying in Thailand working on a software development program.
Thanks for sharing the real life story of a restaurant with partners. Please do more of these startup reflections. This kind of dream to have your own business is very common when falling in love with Thailand and its people.
Finished watching the video. Great honest Man there. You could see he's still pissed off inside. But at least he tried. Trying and failing is okay. Sitting and thinking what if. Is 100 times worse.
Fair play to him for sharing his story. It’s not easy talking about the mistakes you make in life. Especially on the internet
Great comment
Great interview. Super decent genuine guy who has had an invaluable experience that both he and the rest of us can learn from. Thanks for sharing as this is really insightful for anyone doing the same. It highlights the pitfalls of the business structure that is required in thailand. Hope it works out for this dude!
Wow Pete , another awesome interview. Loving all your videos mate. And wow, what a story The Thairish Sun had to tell. Such a humble guy. I truly hope he has a bit of luck comes his way, sounds like he certainly deserves it. Like him, i like to see people do well. Cheers Pete
You’re very welcome ☺️
Really enjoyed the entire interview. I think the Irish are really tops at telling their life story. 👍
amazing scoop, Pete. wonderful chat. Irish people really tell interesting stories. i could sit here for 2 hours and listen to you lads - as if i was at the pub kind of eavesdropping....
Cheers mate, we love a good story in Ireland
I started a business in Thailand over a decade ago, doing professional IT services. It’s very tough but there is money to be made. Like from this guys experience, my advice is have a good Thai partner. I have my wife, it makes things much easier to get Thai customers, manage staff, and manage other day-today stuff. I started alone, but having someone I trust and local in the business helped a lot.
Nice, I like to hear success stories like yours
The wife and run a medical clinic here and finding good staff is hard. Once we find a good one we pay big salaries and treat them all well. Within a week of recruiting a new worker we know if it will work or not. We always pay them hourly rate part time. It’s easier to sack them. One thing to remember is that no matter how well you treat them they will quit without notice whenever they want. Usually after new year’s someone quits! Happens every year to us
Been going to Thailand since 84 leave the dream there and head hone from fantasy life back to reality .
Great video Pete. Love hearing stories from entrepreneurs in Thailand. He has a great story an is very well spoken. I have own many businesses in the USA myself. Hopefully Thailand is next. It great that he is open to talking about the good, bad and ugly. We all make mistakes starting out. Just need to learn from those mistakes. Another great video mate!
Cheers Thomas, glad you liked it mate
Whey! go on the lads, the two best Irish youtubers in Thailand. Love this guys channel it deserves far more subscribers. Was one of my virtual travel 'go to' when I was stuck in lockdown. Comes across as sound a fella here as he does on his channel. 👍
😁😁😁 Thanks mate, lovely seeing a comment like that!
Sound as a pound mate
Thank you for sharing Pete's Irishman guest... Sometimes, blood line runs not as thick as money is, be optimistic change your environment, ASEAN is wide and you will meet the right people for sure...
That preview was amazing. I'm ready to watch the whole video now.
Nice
Good to hear from someone who found it difficult. It’s not always sunshine and roses. Good he is still positive though.
That’s it Mick. I like to mix is up. They can’t all be huge successes in business
the 49/51 shareholding structure only bad for foreigner IF the company only had common share (1:1 voting, pro rata dividend) since the company is controlling through the "voting" of the shareholders. if you hold preferred shares (which could be set up to be 1:100 voting with preferential rights on dividend) coupled with a proper SHA (shot gun provision included) you are having 100% control over the company and dividend.
You're welcome
i can feel him 100%
is very hard to find good staff in Thailand
if they are just a little bit unhappy, they will quit right away
Heading to Thailand in November. Can't wait
Had a cafe/restaurant in Cambodia - not as bad as Thailand, you can never ask enough questions - the profit in food is tiny and costs are constant. Loyalty is not such a big thing in Asia.
Interesting, thanks for sharing
It is dog-eat-dog in the developing world
Very genuine guy.
Hi there @Thairish Times. Greetings to @Thairish Sun as well. I love both of your contents. Real stories. Real experiences. The real deal in my books. 👍🏼
Thanks mate
When I was in Koh Samui I followed Thairish Suns videos and went to the places in his videos. So good 😊 especially the temple in the mountains 🏔 good times xxx
Nice one he makes good stuff
Great great story well worth the watch. 👍 "In Thailand money No. 1"
Well I am 100% Thai both parents are Thai and Thais think that I am a foreigner about 90% of the time......My Thai is also fluent !
cool, that's rare
The guest is very authentic and interesting
The guy shows how hard it is to do business in Thailand.
Thailand largely doesn't want foreign owned business so they put up these ridiculous hurdles.
nah man, hes just a idiot lol
I love Thailand, but I wouldn't consider working here. Interesting video. The older man's advice at the end is correct.
Great interview !! Please don't waste anymore of your money here in Thailand.
Big up on this video. Everything that you are talking about is exactly what I heard or experienced myself. From the business story to people who wants to drag u down with them. I came to Thailand 6 years ago on a vacation and since then I'm stuck. =)
Very good interview skills, you let the person TALK !
Thanks ☺️
Thank you ..really appreciated this interview a real honest look into one man's experience in Thailand..I learned much
Glad you enjoyed it
If you can afford solid property in Phuket or Koh Samui it’s a much safer business, occupancy rates on airbnbs are amazing even during Covid.
Thai will be majority share holder of the company, however there shares will have 1 voting power and your shares will be 10 voting power each.
If you do 75% Thai share holders the Thai govt do not report or info share with foreign governments.
January this year Thailand signed agreements to share business, banking, and investments with your home government and any government who requests it. However if the holding company of your property is 75% Thai shareholders this new rule is void. You can still maintain heavy majority of power and voting power.
Interesting
Would love to know more about this
31:39 I had a bar in Chiang Rai back in 1987 and someone asked me a question about opening a business in Thailand to which I provided that exact same advice. I was lucky to have had the opportunity to sell the business shortly thereafter and find proper work in Bangkok. As a footnote at the time I was told that I was the first farang in Chiang Rai to receive a work permit. Not sure if it was true.
interesting stuff, I bet you've a few good stories to tell
@@ThairishTimes Sorry, my kids might read them 😏
Great video / topic. There needs to be more of this in SE Asia. Not many open conversations about the trouble doing business in SE Asian countries. Too many assumptions and false expectations. Tip of the hat to the guest for being open, honest, and sharing. People really need to think things through before starting a business in SE Asia.
A Really True Storytelling . It always looks so very nice, easy and successful , but that’s not true. And many more westerners who have a business are suffering. Only a few are successful. Good interview Pete. 🙏
Glad you liked it Gert
What a great interview! Eyes opening stuff!
Glad you liked it
Interesting story. He speaks without ambiguity.
Good interview, sad story, but very common, the internet is full of stories like this, starting a business in a foreign country like Thailand is a recipe for disaster, if you travel to a place like Thailand and need to make money you are at a huge disadvantage. You need to bring enough money with you to survive, unless you are fortunate enough to have a good job in Thailand, maybe teaching English, but even that is not enough to survive really. Also, this person you interviewed admits he drinks a lot of alcohol, that causes depression, or at the very least adds to depression, I am always amazed at foreigners in Thailand (and other places) they complain about depression and admit to drinking a lot, that is like pouring gas on an open flame. Happiness is only achieved by helping others, the more we do for others the happier we are, PERIOD. There is no place for alcohol and drugs in my life, my health is way to important
I went back to find the part that where he said he drinks a lot. He didn’t say it. What he said was “I think a lot and it’s not too good to have too much time on your hands”
@@ThairishTimes At the beginning he said I was so shy I could not perform unless I drank a lot "I used to have to get drunk before I could go on stage", he said he suffers from depression, maybe he does not drink alcohol much anymore, but he was drinking a beer during the interview, if you suffer from depression, drinking any alcohol is going to make your depression worse
Great interview, the chap you spoke to seems like a sound lad and reminds me of myself living in Dublin, it is extremely negative.
I was in Thailand 4 times and was recently considering opening a business there, but after hearing this it reminded me that many Thai people just look at us foreigners as bank machines and want easy money which is a major turn off.
Great interview on of the best 😀👍thanks Pete for share, he have a hard time this guy
Nice one Dorte glad you liked it
This is a normal problem for the people who want to do a business in Thailand, and it happens to any Thai owners too.
Own business here never be easy and it's alway very high competition, I found it a lot more easier to open a restaurant in the USA.
And in Bangkok it's a lot more harder to do a business because a lot of Bangkok people who do not want to open their businesses among crazy high competition vibe then they open their businesses in the country side like Pattaya, Koh-Pa-Ngan, Phuket, Samui, Chiangmai, Chiangrai because you could have more chill vibe there and ofcourse lower competition and you do not have to pay a lot for your business, people in Bangkok called them "Slow life business", many of my Bangkok friends did like this too but if you do not have a luck you have to be very very patient to be a millionaire, But here in Bangkok you have to have money first if you want to play around here and there's nothing to guarantee you could do this business for short or long-term, many businesses here around my area in Bangkok are always change although many of them lost over 10 millions Baht(us$300,000) for their dream businesses because you have to be very unique or very shine to do business in long-term here and I'm not even talking about the skill.
But if you have the skill and unique and shine all together and want to own business in Bangkok then you need nothing.
Example, the street food vendor girl who sell only squid stick opposite the Bangkok town hall earns more than 1 million a month(us$30,000+/month).
Thanks for your insight into business in Bangkok. This is very cool stuff
Great Interview! Very switched on guy. Wish him all the best. Currently on Koh Samet!🇹🇭🙏
Interesting interview with yet another walk of life and good luck for the future Thairish Sun! Great one Pete 👍
Glad you liked it Nok
He should be a manager for a bar/restaurant he is great talker
He is a super talker
Customers are key to success,you needed to adapt your menu,to suit the people who would frequent those gyms,you needed to offer healthy organic muscle building foods,
Great interview. Compelling real life story. Feel bad for that guy, hope he more thoroughly investigates any new foreign biz ventures, and that he has a successful experience. Thanks for sharing
You're very welcome. Thanks for watching
"Hindsight is 20/20 and you can see the mistakes....." Yeah!! This guy's business was 1 big mistake. No money, no experience, no market research, no business plan, no language skills, no cultural understanding, no network of friends/associates.
The most successful westerners in SE Asia are the ones who come with experience, financing and a well thought out business plan.
Yeah, he's the poster child for "fail to plan, plan to fail"
Live and learn....
Getting a lawyer to find a silent partner is probably more reliable than this...
Keep your chin up start again because that's how we learn by mistakes and perseverance
love the positivity
1:45 Despite being right next to Soi Cowboy this is actually going to be the "Asvaintra Office Building", so 100% offices.
Really odd that offices are going to be built right next to a tourist hotspot like that but thanks
This is a great story. Thoroughly enjoyed it ❤️🍺.
It seems that in Southeast Asia, esp. Thailand and the Philippines, to make a small fortune requires bringing a big fortune.
I'm a sub of his and it was great to hear some background of his good interview again Pete keep them coming
Yeah I was glad he told his story too. This was unplanned. I had no idea what he was going to say so I really enjoyed listening and learning a thing or two from it
Might have to start the Thairish independent. Good interview Pete
We need one mate. Get on it
He as kissed The blarney stone for sure. Interesting story. I had a restaurant for some years, a long hours business.
He sure has 😂😂
Been a regular in Thailand for 28 years and luckily saw through them from the start thankfully. Im still amazed though how many folks put themselves through hell simply because they haven,t grasped the true nature of the Thai. They are totally blind to the basic fact that a Thai will never let a farang be the overlord and more importantly make a successful business in their country unless they are a professional from their own, not some twopenny shop or bar owner. Its a no brainer...! But still the fool ls try.
FYI . If your going to use two cameras. They should both be on same side of that line . In your two shot he is looking left to right . But when you cut to single shot he is now looking right to left . The single camera should be on your left side . That’s considered technical correct . But up to you
This was shot nearly 2 years ago. I leveled up since then and improved my camera positioning.
Good to hear, ,I like the content.@@ThairishTimes that s
Hiya Pete, I have been watching his channel for a while. Top bloke. Great interview. Great to hear his story. It will help many people. Great video. I hope The Thairish Sun gets the subscribers he needs to go live. He has worked so hard on his channel. I wish him all the best. Have a great evening.
I hope he gets their too Nicky. He's a top bloke and deserves it
@@ThairishTimes You are a top bloke. It will help his channel a lot. Have a great evening.
first video of yours I've seen, I've never been to Thailand so this is like a speed lesson for me! I wonder how similar it is in Vietnam, I went to Nha Trang and it's a vibe
Welcome to the channel, lots more informative content to come
Cool shades!! Pete! Which Military coup? I, landed first time in Thailand 2007 and the a coup had happen the month before.lol
Cheers Sean, there was one again in 2014
i sent up two companies in2016, there is a way of doing 51/49 to your benefit if you have a good Thai lawyer , they had 51 but I had sign off and sold the business after 3 years , I had them sign forms of consent whereby I had control , I signed them of as directors when I sold the companies
Interesting, thanks for sharing that