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LaaMok

A rare and one off post - want to manage a bar?

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socrates

I think the 14 million refers to Freehold Price

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Cerberus
1 minute ago, socrates said:

I think the 14 million refers to Freehold Price

I do not believe that is the case  :rolleyes: few bars have freehold title and even if that was true the freehold on LK Metro is hovering between 20k/25k per unit. Think about it,  if you as a Thai landlord had bought 10 years ago for 5 million and was now getting 1.5 million + a year in rent would you be keen to sell. 

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socrates
Just now, Cerberus said:

I do not believe that is the case  :rolleyes: few bars have freehold title and even if that was true the freehold on LK Metro is hovering between 20k/25k per unit. Think about it,  if you as a Thai landlord had bought 10 years ago for 5 million and was now getting 1.5 million + a year in rent would you be keen to sell. 

I believe he was talking about Soi 6

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Cerberus
Just now, socrates said:

I believe he was talking about Soi 6

I am aware of the location, :Evil_Grin2:  the rents and what general price businesses are changing hands at,:Evil_Grin2: just as I am aware of prices throughout Pattaya, for obvious reasons. :)  I was merely attempting to add a degree of balance to the thread :25: Time for a nightcap I think, leaving this thread to more knowledgeable people than myself. Night all

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LaaMok
27 minutes ago, socrates said:

I think the 14 million refers to Freehold Price

Correct,  at 12-14m baht per unit i can get around 18 freeholds on Soi 6 in two phone calls.  Or I could wait forever for a lower price and buy one occasionally. 

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manni2011
4 hours ago, SirL said:

Laamok,

Can you give your ideas for what the motives might be for the owner of a poorly-performing bar to keep it open?  People seem to glibly write that it's obviously money laundering, but that doesn't really make sense to me.  How and particularly why do very quiet businesses seem to continue to operate year in year out?  Is it just ego on the part of the owners, they like to think they are some kind of big cheese because they own a bar full of young girls?

There are a number of reasons. Bars frequently are vanity investments. People invest in bars with diminished expectations about returns because they like the notion of being able to show friends and families ‘their’ bar.   I’ve seen restaurants in the US where the investors have lost millions of dollars and yet they keep pouring money into the endeavor because  they want to be associated with the celebrity chef at the helm. 

Another reason failing entities are kept going is because it creates a veil of success.  If Bryan were to shutter 1/4 of the Nighwish bars on Soi 6 that perform poorly or lose money (not saying they do) it calls into question the stability and profitability  of the remaining bars. It would then be harder for Bryan to attract new investors because of the diminished aura of success around his company.  The appearance of success can be more important that actual success. 

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LaaMok
5 hours ago, SirL said:

Laamok,

Can you give your ideas for what the motives might be for the owner of a poorly-performing bar to keep it open?  People seem to glibly write that it's obviously money laundering, but that doesn't really make sense to me.  How and particularly why do very quiet businesses seem to continue to operate year in year out?  Is it just ego on the part of the owners, they like to think they are some kind of big cheese because they own a bar full of young girls?

Alot of bars do make money but people think they are not,  I've had gogo owners and night club owner, saying that I am a nobody with shitty bars and they can't possibly see how we make money.  I've had a few guys saying we must be selling drugs, cleaning money or its a pyramid scheme.   I think alot of guys do this because they don't understand how we do it and they don't see the effort, the process and all the stuff we do behind scenes.  I have seen people attacking a well know restaurant group owned by a friend of mine saying they must be laundering money!

I can tell you a few things,  laundering money cannot work in non-legit small businesses,  there is probably a few big places at it, but its a real big issue getting involved in that and its not worth it for most people.  Its a short term, high risk strategy, not easy like the arm chair experts think, there can be some pretty nasty people involved.

Back to the dead bars again,  lets say its ran by husband and wife and they live upstairs or they live outside and the husband has a pension,  to pay the rent and to have some money spare at the end of the month, you only need a few cracking nights a month. Soi 6 bars are open 12-14 hours per day,  often they look dead,  but you only need a few good hours to break even,  and the girls need a few short times to make it worth them waiting all day.

The other reason is they stay and suffer it, is because there is almost no other options for them to make money.

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LaaMok
6 minutes ago, manni2011 said:

There are a number of reasons. Bars frequently are vanity investments. People invest in bars with diminished expectations about returns because they like the notion of being able to show friends and families ‘their’ bar.   I’ve seen restaurants in the US where the investors have lost millions of dollars and yet they keep pouring money into the endeavor because  they want to be associated with the celebrity chef at the helm. 

Another reason failing entities are kept going is because it creates a veil of success.  If Bryan were to shutter 1/4 of the Nighwish bars on Soi 6 that perform poorly or lose money (not saying they do) it calls into question the stability and profitability  of the remaining bars. It would then be harder for Bryan to attract new investors because of the diminished aura of success around his company.  The appearance of success can be more important that actual success. 

None of our bars on Soi 6 ever lose money but some of the bars off Soi 6 have lost money,  but the way we are geared up and split costs can give us a loss on the sheet but in reality it wasn't.  The soi Bongkot bars don't do too well, but we have some cracking girls down there, its great to meet people there and we just love them.

In our cases,  the investor is show the spreadsheets/sales reports.  I always suggest people do this is they are going to invest into an existing business.

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misteregg
3 hours ago, Cerberus said:

I am aware of the location, :Evil_Grin2:  the rents and what general price businesses are changing hands at,:Evil_Grin2: just as I am aware of prices throughout Pattaya, for obvious reasons. :)  I was merely attempting to add a degree of balance to the thread :25: Time for a nightcap I think, leaving this thread to more knowledgeable people than myself. Night all

Hendricks?

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Cerberus
5 hours ago, misteregg said:

Hendricks?

Nope :D Been a long day, so just the one as the lady said.

Related image

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dave01
9 hours ago, LaaMok said:

Alot of bars do make money but people think they are not, 

(SNIP)

Back to the dead bars again,  lets say its ran by husband and wife and they live upstairs or they live outside and the husband has a pension,  to pay the rent and to have some money spare at the end of the month, you only need a few cracking nights a month. Soi 6 bars are open 12-14 hours per day,  often they look dead,  but you only need a few good hours to break even,  and the girls need a few short times to make it worth them waiting all day.

(SNIP)

Pretty well summarises our place. We don't live on site, but have a couple of trusted women who do. They do the cleaning, the restocking, they are invaluable to us... and  they open the bar.  Our place is busy from about 4pm till about 8 or 9pm.  Then there is a lull till about 11 or so, when blokes will come in looking for a companion for the night. We are happy with our percentage return. But to the uninformed observer who may walk past at say, 9:30 pm, they would think the place is doing no business. They are plain wrong..

Those last couple of hours of the night, can significantly boost takings, and as you say, in a small place like ours, 3 or 4 good days per month carries us through....

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rope-a-dope

I often wondered how these empty bars i amble by stay in business also, but a few busy nights needed perspective is not one i had previously considered...i think i have personally contributed to just such an equation in many nondescript and (empty until i waltzed in on a mission) bars.

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LaaMok
1 hour ago, dave01 said:

Pretty well summarises our place. We don't live on site, but have a couple of trusted women who do. They do the cleaning, the restocking, they are invaluable to us... and  they open the bar.  Our place is busy from about 4pm till about 8 or 9pm.  Then there is a lull till about 11 or so, when blokes will come in looking for a companion for the night. We are happy with our percentage return. But to the uninformed observer who may walk past at say, 9:30 pm, they would think the place is doing no business. They are plain wrong..

Those last couple of hours of the night, can significantly boost takings, and as you say, in a small place like ours, 3 or 4 good days per month carries us through....

I can't see any threads on your bar? Thanks for confirming

 

15 minutes ago, rope-a-dope said:

I often wondered how these empty bars i amble by stay in business also, but a few busy nights needed perspective is not one i had previously considered...i think i have personally contributed to just such an equation in many nondescript and (empty until i waltzed in on a mission) bars.

The bell ringers are a life saver!

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Pheat
12 hours ago, socrates said:

I think the 14 million refers to Freehold Price

You would hope so.

Otherwise some very expensive tables and chairs and fridges 555

 

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mike jones

most of the girls in Sapphire are freelance so they don't draw a salary 

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LaaMok
On 9/6/2018 at 10:06, mike jones said:

most of the girls in Sapphire are freelance so they don't draw a salary 

I can't see that being the case,  they are usually a mix of salary and agency.

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usexpat46
On ‎9‎/‎6‎/‎2018 at 10:06, mike jones said:

most of the girls in Sapphire are freelance so they don't draw a salary 

I've heard from some bar managers that many of the BGs that work for a salary when it comes to payday that they have their stated salary cut and with some it's cut to zero.

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Petesie

This may be the case of Thai run bars who simply do not have the ready cash to pay the girls.

Newbar salaries are paid every month with no cuts; Ladydrinks are paid on a daily basis as New knows the girls have to eat, pay laundry etc. Some nights aren't that great but you never know who walks in the door. On an overall monthly basis she is doing ok. :)

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LaaMok
On 9/27/2018 at 10:37, usexpat46 said:

I've heard from some bar managers that many of the BGs that work for a salary when it comes to payday that they have their stated salary cut and with some it's cut to zero.

The girls are aware of what they will get cut for and how much.  But when koreans are giving them 4000 baht long time,  they do not care about their cuts for coming in late,  then they end up with very little.  But using 7000-20000 a month salary to "control"  an uneducated, young thai girl that makes 150k a month is an art form.

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Jason Tutle
On 10/2/2018 at 11:43, LaaMok said:

using 7000-20000 a month salary to "control"  an uneducated, young thai girl that makes 150k a month is an art form.

That actually made me laugh out loud. I seriously never thought of it like that. 

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LaaMok
On 08/10/2018 at 14:43, Jason Tutle said:

That actually made me laugh out loud. I seriously never thought of it like that. 

Yes,  they earn so much

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LaaMok

3 more bars opening soon, need around 5 more managers if anyone is interested.

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Brianrich1

Great post. Good to see people of success in Pattaya willing to help others. 

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Bawdy

Almost a year on from starting this post, I assume you've already had some successful applicants, can we have some details? Which bars did they end up managing? Cheers.

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