Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

YouTube · Post by **General Mackevili** » Wed Jun 07, 2017 5:08 pm

Duncan wrote:
General Mackevili wrote: ↑Wed Jun 07, 2017 1:41 pm
Duncan wrote:I've walked into that place many times and me being a non drinker of alcohol, I'm almost tempted to buy it, as I know I could make it run at a profit.
Will I be unbanned?

Have you ever heard of a two headed hammer.

That's a cryptic way of saying YES, right?

willyhilly · Post by **willyhilly** » Wed Jun 07, 2017 5:41 pm

Buying an established business nowadays is fraught with hazard. The tax people have been targeting barang hotels and restaurants for unpaid income tax and VAT levied but not forwarded to the Treasury.
Sums involved have been from the tens of thousands to the hundreds of thousands of dollars. It makes purchasing what appears to be a marginally profitable business a huge gamble.

hanno · Post by **hanno** » Wed Jun 07, 2017 5:46 pm

willyhilly wrote: ↑Wed Jun 07, 2017 5:41 pm Buying an established business nowadays is fraught with hazard. The tax people have been targeting barang hotels and restaurants for unpaid income tax and VAT levied but not forwarded to the Treasury.
Sums involved have been from the tens of thousands to the hundreds of thousands of dollars. It makes purchasing what appears to be a marginally profitable business a huge gamble.

Not just Barang owned. Rumor has it that Sokha in Tempe Town got hit with a 6 Million Dollar tax bill.

Cruisemonkey · Post by **Cruisemonkey** » Thu Jun 08, 2017 3:55 am

hanno wrote: ↑Wed Jun 07, 2017 5:46 pm
Not just Barang owned. Rumor has it that Sokha in Tempe Town got hit with a 6 Million Dollar tax bill.

Six million!!!

Dollars or riel?

Barang chgout · Post by **Barang chgout** » Thu Jun 08, 2017 7:58 am

Without a good, strong, expat customer base, it would seem these bars are doomed to fail. Dare I suggest that it's not the bar but the management that make or break........how come Larry's doing ok?

Sent from my SM-G570Y using Tapatalk

hanno · Post by **hanno** » Thu Jun 08, 2017 10:13 am

Cruisemonkey wrote: ↑Thu Jun 08, 2017 3:55 am
hanno wrote: ↑Wed Jun 07, 2017 5:46 pm
Not just Barang owned. Rumor has it that Sokha in Tempe Town got hit with a 6 Million Dollar tax bill.

Six million!!! Dollars or riel?

Hard, cold USD. Apparently settled for 1 Million.

Brewer · Post by **Brewer** » Thu Jun 08, 2017 10:13 am

General Mackevili wrote: ↑Wed Jun 07, 2017 12:16 pmAnd to add insult to injury, it appears it only has about 2 more years on the lease at $1,000 a month, so you have only 2 years to get in there and hopefully "profit." And we all know what happens at the end of a lease in Cambodia most of the time.

So, with the cost of the business plus the rent you'll need to "PROFIT" $40,000 just to break even, and that's before even paying any staff.

The owner says there's a "legitimate reason for sale," and I would assume being unprofitable as fuck falls under a very legitimate reason, so buy it and be the next Garage Bar owner with a legitimate reason to sell.

It never ceases to amaze me that so many people seem to be incapable of doing the basic maths that should keep them away from buying a business in the KOW. If you spend a while in-country with your eyes and ears open and brain in gear, it should be obvious there are some serious hazards relating to being a business owner long term and there are serious difficulties making any money short term. Besides, what is actually being sold? Intangibles and fuck all in the main. It never ceases to amaze me seeing the prices being asked for things when your simple calculation would make it apparent to anyone with a semi-functioning brain that they will never get their money back within the lease term.

boozyoldman wrote: Stick around for a while in PP or SR (possibly SHV, too) and you see bars, restaurants and so on open with
joyous fanfare and - sad to say - close with tears or even shutter their doors silently, like torpedoed ships.

The splendid Party Bar on Soksan in SR being one such, among many ...

I'd be interesting to know the percentage of those foreigners who walked away with more money than they
brought in - twenty percent, maybe?

Are you talking about the Party House on Sok San?

boozyoldman · Post by **boozyoldman** » Thu Jun 08, 2017 12:07 pm

Yes. Party House on Sok San.

It is shuttered and sad to behold now - it used to be very lively.

ricefarmersdaughter · Thu Jun 08, 2017 12:20 pm

theres no money in cambodia that combined with scamming landlords and rip off employees and coppers its just a waste of money like barfining a rice farmers daughter

willyhilly · Post by **willyhilly** » Thu Jun 08, 2017 4:36 pm

Thanks Hanno but settled means nothing here. Taxmen are still doing deals that may unravel under a new tax regime over a few months or years. A country with no rule of law is no place to do business.

Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

Re: Garage Bar In Phnom Penh, Cambodia FOR SALE AGAIN for $15,000

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