Mystery solved, how to Buy a Business in Phuket that Works

Mystery solved, how to Buy a Business in Phuket that Works

Buy a business in Phuket that runs itself so you are free to expand the business; or just relax on the beach most afternoons.

Let’s be honest most business owners don’t have much time to spare. However smart business owners develop or buy into a profitable business system that can be operated with minimal supervision. This frees up time which can be used to grow the business.

Phuket the Island of Diverse Opportunities

Phuket is a growing market and yet still has decades of growth left. Phuket’s overall business environment has matured and can offer a great deal of stability.  

PhuketBuyHouse.com has helped many expats successfully enter into business in Thailand. PhuketBuyHouse.com provides listings of exclusive, luxury properties such as hotels and resorts that have excellent potential as a long term business investment.

More and more visitors to Phuket, both domestic and foreign are looking for more freedom and cost savings by renting a luxury property instead of staying in an expensive branded hotel. With the demand for luxury properties in Phuket increasing now is a good time to look at the incredible business potential that can be realised.

Find a Legal Eagle

The best astute and independent legal advice will save time and money in the long run, especially when investing overseas. A potential business owner as a foreigner in Thailand will need expert guidance on a number of diverse issues from immigration to employment law.

A large firm of lawyers will have more individuals with a bigger pool of talent available to you who can provide specialist advice in many areas. A small firm will eventually have to call on outside advice. Additionally the larger the firm the more influence they will have within the regional and national legal community. The various disciplines that will need to be covered by the lawyers may likely include contracts, taxes and licenses, real estate and business organisations.

By asking difficult questions you can better gauge the lawyer’s reactions and personality. How much experience do you have? How do you develop your contacts? What other clients in my industry do you service? How flexible are you in billing?  

Work on the Business not in the Business

By choosing a business that has established and detailed, documented business procedures the new business owner can create more value by developing those systems already in place. The business owner who runs and operates the day to day mechanics of the business is not free to effectively take the company further and have time to spare.

The most popular way to do this is by investing in a franchise. A reputable franchise will have comprehensive business procedures in place, an established track record, customer base and expert mentoring available.

The Good News

The Business Development Department (branch of Thai Government) recently published figures showing the number of approved foreign businesses had grown by 11% compared to last year. Thanks to growing tourism and export sectors, Thai GDP is expected to grow by 5% next year.

Thailand is expected to be one of the top five countries who benefit in terms of an increase in direct foreign investment resulting from the proposed Asian Economic Community.

Demand for luxury accommodation is being driven from new arrivals to Phuket coming from China and Russia. Suvarnabhmi International Airport in Bangkok is being expanded, along with Phuket International Airport to service growing numbers of international and domestic arrivals.

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