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Discuss culture, living, traveling, relocating, dating or anything related to the Asian countries - China, The Philippines, Thailand, etc.
Hi, myself and a friend are looking to invest in a business in the Philippines.
We have a substantial amount of money and am ideally looking to buy a restaurant/bar business. We have checked out north of Manila, subic bay & sugar beach.
Anyone one on here know of business's for sale or have one themselves?
I know of a couple bankrupted ones you can pick up easily
I would strongly advise against any business venture in the Philippines if you have not
spent considerable time already living in the country. It has been said that the best way
to make a small fortune in the Philippines is to start out with a large one.
That said, there are foreigners who run successful business in the Philippines...
but I would say that strong family connections there are very helpful. In my case, being
married to a Filipina from a Family with a locally recognized name has probably been
a very big help in keeping predators away.
The website sulit.com has a lot of business advertised on it and start ups. a laundry or water store should be a winner looking around the usa there are many successful here.
Thanks for your help and assistance Dave we, we have family members here and and am not coming into this lightly, we have been here before and will continue to come back before we make up up our minds, thanks target guy, for your help and assistance, we will certainly look into this.
If anyone knows of a good business up for sale, if you can direct us there that would be appreciated.
That's good advice.
The biggest problem I found in having a business in the Philippines is your selling a product or service to people that don't have any money, this means your in the volume business whether you like it or not. Your prices have to be really low and you need to sell a lot of product in order to compete. There's businesses that target middle class customers but they never seem busy to me. Having a business close to a US military base might help.
This. It makes no sense to attempt to make a living in a poor economy when you have a rich economy available.
I love Vietnam. I have a business idea which I think would fly in Vietnam, but when I crunch the numbers and compare my projected profits to what I have available in the US...it makes no sense to execute it. That's the problem. The best way to make money involving a second world country is to find items that you can profitably import from there into a first world market.
In order to make money you always have to go to where the money is.
Or have a biz catered to foreigners.
We are not going into this venture to make pots of money, we know that wont happen, my partner is going to retire and live there so he needs to make a certain amount to start to pay back his investment and to live on. Im helping at the beginning and then investing in a couple of years. Speaking to business owners out there we understand the problems with income and outgoings and staffings costs etc etc
This makes more sense. I know several guys in PI who have "successful" businesses, but the definition of success is different there. In most cases these are retirees looking to supplement their income or guys with young wives looking for something to keep their wife occupied and happy. Or in a couple cases looking to keep the wife's family employed. I don't know anyone actually making big money there, though I am sure there are a few.
If I bought the RIGHT local business, I would expect that I could make the volume larger,
(1) by giving warm American-style service
(2) by attracting expats via word-of-mouth, webposts, YouTube, etc.
OTOH since I would probably not be allowed to do any actual visible work, the amount of (1) and (2) would be be limited by the extraordinary difficulty in changing how the local help performs. Improving things is HARD here.
Having a local wife would solve this problem, she could crack the whip. But since I ain't getting married right now, I have to assume that what I buy is what I will get.
Generally there are two ways to look at the financial end:
(A) Aim to clear $3000usd per month to meet all living expenses and US-based expenses as well.
(B) Aim just to break even, in order to
--enjoy free wifi,
--free coffee or beer or breakfast
--have a reason to get up in the morning,
--and have a place from which to conduct your online business (writing, web-based, trading, etc.)
--MIGHT even give you a place to live.
Buying business type (A) could easily cost $60,000 to $120,000usd, but it sounds like the OP has it. Buying a business is risky in the US, but IMO here in Mexico no more risky than in the US. FAR less competition here, and most are WAY undercapitalized. Businesses that cater to the local middle/upper class are US-priced and do well.
But since my bankroll is momentarily meager, I would personally be lucky to accomplish type (B).
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