Do you want to move to Thailand?
Will you need to open a business for income?
It seems pretty straight forward, however, in most cases it is not.
Thai people are notorious for copying western business ideas and opening right next door or nearby, with lower prices.
Believe it!
If Thai people see you making money, it won’t be long before they have copied your idea in the same vacinity.
When it comes to money, there is nothing fair and Thai’s do not want to see you being financially successful when they are not.
There are a few caveats to this.
If, as a foreigner, you have a huge amount of money to open a business that the local people could not match.
One example would be the Go-Go bars in Pattaya, many of which are owned by foreigners.
Large scale western restaurants, even hotels or resorts.
But you are investing a lot of money, and there are no sure guarantees.
Any small business ideas you have, you will find it can and will be easily duplicated.
Any idea how many coffee shops there are in Thailand? Even shops right next to each other!
Many Thai’s are forced by lack of education to be entrepreneurs.
Selling anything and everything they can to survive.
Many have figured out a niche that allows them to earn enough money to survive.
However, it would not be enough for you.
Selling clothes in the local markets comes to mind.
Many foreigners simply do not understand the difficulties of owning a business here and making enough money to support themselves.
Yes, it is a huge risk and 1,000’s of foreign businesses have gone out of business here.
Understanding the Thai culture and mentality, there is a lot more to being successful here in business.
You are not the first one, to come up with any business idea. Many have come before you and failed miserably.
Dealing with Thai Baht, you have to have an enormous amount of customers to make enough to support yourself.
Be aware of the copycat business mentality here if you plan to open a business that can easily be replicated!
A majority of the population in Thailand earns money by selling things in local markets.
In most cases, that amount of money would not be enough for a foreigner to survive here.