Bar/restaurant opps Siem Reap
Bar/restaurant opps Siem Reap
Hi guys,
just looking for a bit of initial advice. Me and my brother have long wished to open a bar/restaurant abroad, and after a trip to Cambodia fell in love with the place. Sick of western life, slogging away for no reward and high bills so want a fresh start.
It is literally just an idea at the moment, and Siem Reap was the place we most enjoyed. Could anyone advise on the restrictions/opportunities to do this?
Our initial (dream scenario) would be to buy a spot pretty much ready to go (once the world is in a better place post virus) spend a month or so changing it up, and then getting started. I totally understand the concept is so basic but we are just looking for some help on whether such a basic concept would be viable! This is less a question on advise as to what business model/products we would sell or follow, more just gauging if this would be something that could work. We would then evaluate all the other options.
We have a budget of around £40,000 at the moment to get us started, pending a further £10,000 with investment.
Thanks for your time, and hope everyone is keeping well,
Jack
just looking for a bit of initial advice. Me and my brother have long wished to open a bar/restaurant abroad, and after a trip to Cambodia fell in love with the place. Sick of western life, slogging away for no reward and high bills so want a fresh start.
It is literally just an idea at the moment, and Siem Reap was the place we most enjoyed. Could anyone advise on the restrictions/opportunities to do this?
Our initial (dream scenario) would be to buy a spot pretty much ready to go (once the world is in a better place post virus) spend a month or so changing it up, and then getting started. I totally understand the concept is so basic but we are just looking for some help on whether such a basic concept would be viable! This is less a question on advise as to what business model/products we would sell or follow, more just gauging if this would be something that could work. We would then evaluate all the other options.
We have a budget of around £40,000 at the moment to get us started, pending a further £10,000 with investment.
Thanks for your time, and hope everyone is keeping well,
Jack
Re: Bar/restaurant opps Siem Reap
Wait for another 6-9 months for prices to hit rock bottom, maybe even longer. Use your money now to buy gold, bitcoin, stocks, or whatever governments can't print.Jackm95 wrote: ↑Tue Apr 14, 2020 6:02 pm Hi guys,
just looking for a bit of initial advice. Me and my brother have long wished to open a bar/restaurant abroad, and after a trip to Cambodia fell in love with the place. Sick of western life, slogging away for no reward and high bills so want a fresh start.
It is literally just an idea at the moment, and Siem Reap was the place we most enjoyed. Could anyone advise on the restrictions/opportunities to do this?
Our initial (dream scenario) would be to buy a spot pretty much ready to go (once the world is in a better place post virus) spend a month or so changing it up, and then getting started. I totally understand the concept is so basic but we are just looking for some help on whether such a basic concept would be viable! This is less a question on advise as to what business model/products we would sell or follow, more just gauging if this would be something that could work. We would then evaluate all the other options.
We have a budget of around £40,000 at the moment to get us started, pending a further £10,000 with investment.
Thanks for your time, and hope everyone is keeping well,
Jack
- Duncan
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Re: Bar/restaurant opps Siem Reap
Jackm95 wrote: ↑Tue Apr 14, 2020 6:02 pm Hi guys,
just looking for a bit of initial advice. Me and my brother have long wished to open a bar/restaurant abroad, and after a trip to Cambodia fell in love with the place. Sick of western life, slogging away for no reward and high bills so want a fresh start.
It is literally just an idea at the moment, and Siem Reap was the place we most enjoyed. Could anyone advise on the restrictions/opportunities to do this?
Our initial (dream scenario) would be to buy a spot pretty much ready to go (once the world is in a better place post virus) spend a month or so changing it up, and then getting started. I totally understand the concept is so basic but we are just looking for some help on whether such a basic concept would be viable! This is less a question on advise as to what business model/products we would sell or follow, more just gauging if this would be something that could work. We would then evaluate all the other options.
We have a budget of around £40,000 at the moment to get us started, pending a further £10,000 with investment.
Thanks for your time, and hope everyone is keeping well,
Jack
Jack, your in luck cause you will get plenty of good advice on this forum.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: Bar/restaurant opps Siem Reap
What concept? Yes, bars and restaurants are businesses, some viable, most not.
let me guess - you spent a few months backpacking around SEA and thought the idea of owning a bar would be way cool. You've never operated a business let alone in Cambodia before, have you?.
Give the 40g back to mum or dad and save your self and your family the pain and puss.
Re: Bar/restaurant opps Siem Reap
Not too sure why I would give my parents our savings from working...Kung-fu Hillbilly wrote: ↑Tue Apr 14, 2020 8:16 pmWhat concept? Yes, bars and restaurants are businesses, some viable, most not.
let me guess - you spent a few months backpacking around SEA and thought the idea of owning a bar would be way cool. You've never operated a business let alone in Cambodia before, have you?.
Give the 40g back to mum or dad and save your self and your family the pain and puss.
Yeah operate my own business in the UK at the moment, it is a small one though I must admit. Thankyou for your advice
Re: Bar/restaurant opps Siem Reap
Thankyou, yeah currently have little bits invested online and this is literally just an idea hence why I thought I would come to some knowledgeable people about it (this forum)Kammekor wrote: ↑Tue Apr 14, 2020 6:16 pmWait for another 6-9 months for prices to hit rock bottom, maybe even longer. Use your money now to buy gold, bitcoin, stocks, or whatever governments can't print.Jackm95 wrote: ↑Tue Apr 14, 2020 6:02 pm Hi guys,
just looking for a bit of initial advice. Me and my brother have long wished to open a bar/restaurant abroad, and after a trip to Cambodia fell in love with the place. Sick of western life, slogging away for no reward and high bills so want a fresh start.
It is literally just an idea at the moment, and Siem Reap was the place we most enjoyed. Could anyone advise on the restrictions/opportunities to do this?
Our initial (dream scenario) would be to buy a spot pretty much ready to go (once the world is in a better place post virus) spend a month or so changing it up, and then getting started. I totally understand the concept is so basic but we are just looking for some help on whether such a basic concept would be viable! This is less a question on advise as to what business model/products we would sell or follow, more just gauging if this would be something that could work. We would then evaluate all the other options.
We have a budget of around £40,000 at the moment to get us started, pending a further £10,000 with investment.
Thanks for your time, and hope everyone is keeping well,
Jack
Nothing to lose in asking a few questions - will certainly monitor the price of things over the next year or so.
Thanks again for getting back to me
Re: Bar/restaurant opps Siem Reap
Thanks Duncan,Duncan wrote: ↑Tue Apr 14, 2020 6:18 pmJackm95 wrote: ↑Tue Apr 14, 2020 6:02 pm Hi guys,
just looking for a bit of initial advice. Me and my brother have long wished to open a bar/restaurant abroad, and after a trip to Cambodia fell in love with the place. Sick of western life, slogging away for no reward and high bills so want a fresh start.
It is literally just an idea at the moment, and Siem Reap was the place we most enjoyed. Could anyone advise on the restrictions/opportunities to do this?
Our initial (dream scenario) would be to buy a spot pretty much ready to go (once the world is in a better place post virus) spend a month or so changing it up, and then getting started. I totally understand the concept is so basic but we are just looking for some help on whether such a basic concept would be viable! This is less a question on advise as to what business model/products we would sell or follow, more just gauging if this would be something that could work. We would then evaluate all the other options.
We have a budget of around £40,000 at the moment to get us started, pending a further £10,000 with investment.
Thanks for your time, and hope everyone is keeping well,
Jack
Jack, your in luck cause you will get plenty of good advice on this forum.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
.
that's all it is at the moment - an idea and just was after some advice from people who will have a better idea than I do at the moment!
- phuketrichard
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Re: Bar/restaurant opps Siem Reap
if i was going to have a an idea, (dream ), 25 years old and had $60,000
it would be open a bar on bora bora
not Cambodia
it would be open a bar on bora bora
not Cambodia
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: Bar/restaurant opps Siem Reap
Thanks Richard, unfortunately I am a little older than 25 so can't buy back those years!phuketrichard wrote: ↑Tue Apr 14, 2020 8:43 pm if i was going to have a an idea, (dream ), 25 years old and had $60,000
it would be open a bar on bora bora
not Cambodia
Thankyou for responding, I am getting a feeling the feedback is going to be overwhelmingly negative which maybe gives me the answer I am looking for.
Re: Bar/restaurant opps Siem Reap
Depends on what answers are suitable for you, bar restaurant trade even in our own countries will fail, but at least at home you have more going for youJackm95 wrote: ↑Tue Apr 14, 2020 8:50 pmThanks Richard, unfortunately I am a little older than 25 so can't buy back those years!phuketrichard wrote: ↑Tue Apr 14, 2020 8:43 pm if i was going to have a an idea, (dream ), 25 years old and had $60,000
it would be open a bar on bora bora
not Cambodia
Thankyou for responding, I am getting a feeling the feedback is going to be overwhelmingly negative which maybe gives me the answer I am looking for.
such as legalities for running the buisiness, than a country such has Cambodia where you may find things not always going favourable in your direction at times, but it again is what you are prepared to do with sinking a considerable amount of money into the venture. It looks like you are looking for a key area, and I suspect that you might have asked questions when visiting. Rental would more likely be $1000 up per month to start. But I would have thought that a key area would be out of the question but who knows what will be available! Now I see business in Phnom Penh hit already from the lack of customers with no travel and government closers of such establishments, being that of a world wide problem due to the virus. That's certainly making the difference between what is normal times, and answering your question. Some people with the large type bars have seen to do well and others not. I don't know if those people would agree with me, you need twice the money your planing to operate with. I'm saying this because you need to run the business for three years to get the outcome and the future of the ongoing business and possibly return.
I did the same , unintentionally I have to say, and most here would always say you will lose, but not always so, I had a small bar restaurant, with one full-time staff and one more temporary (when needed). The bar paid for it's self, covering rent and aminities, stock and staff wages, but not really for myself, but I kinda lived free, with a challenge and something to do. When I gave it up, I offered everything as a going concern with a new lease, for someone to start straight away earning, also I would have stayed around to help them with obtaining the paperwork needed and some contacts. $600 was the price of the contents of the bar. No one took the offer.
Always "hope" but never "expect".
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