Great many foreigners would like to take advantage of the opportunity to open their own business in Thailand. However, most of them do not know where to start from and which is the biggest moneymaking industry in Thailand. The following Thailand finance advices will help you find the greatest Thailand's industry to invest money in.
In order to know more about the most profitable area in this country for starting successful business, you need to learn more about Thai demographics. You don't have to target foreigners only, as they make up a small percentage of sales. Rather opt for a business that targets both locals and tourists, as this will ensure you will get enough customers and respectively more profits.
Choose an industry with as little competition as possible. Ensure the business you choose is well-liked by local people, as they will be your main clients. It is not a good idea to start a go go bar for example, as locals will certainly avoid it because of the ethical and moral reasons. On the other hand, if your aim is to attract tourists, you will not succeed, as there are too many other venues of this kind that will attract them.
Keep in mind that if Thais love your business, they will keep coming back to you, so targeting a foreign market only will be a big mistake in terms of making good profits and gaining popularity.
If you still would like to cater your business to foreigners only, consider also the fact that once a decade military coups occur that affect tourism. This will surely affect your business as well if you target tourists only.
After revealing all these facts, we should conclude that targeting mainly local people is the best Thailand finance advice that businessmen can follow. The most lucrative and profitable industry in Thailand seems to be the food industry due to the three main reasons: first, Thais prefer to eat in groups rather than alone; second, the influence of Western food starts to prevail over the local kitchen and third, apartments in Thailand usually do not have ovens, stoves and other kitchen appliances.
Thais prefer to eat together with their friends outside, as their apartments usually are too small to accommodate large groups. Bangkok workers usually eat on the go due to their busy lifestyle and Western influence. Traditional meals with rice are now replaced with breads or sandwiches, pastries and coffee for the beginning of their working day. Thais regularly visit fast food restaurants to have a lunch and dinner with their family and friends.
Since food industry is considered to be the biggest moneymaking industry in Thailand, opening a fast food restaurant here will be a great business opportunity for you. If you want to attract locals, just provide comfortable atmosphere where they can dine out together. If you would like to attract foreigners as well, add some traditional Thai meals in the menu too.
Another great idea would be to make mobile food trucks that will work really well in Thailand, especially in Bangkok and other big cities. They will become very popular attracting young clubbers and workers who would like to find cheap and easy way to satisfy their hunger.
In order to know more about the most profitable area in this country for starting successful business, you need to learn more about Thai demographics. You don't have to target foreigners only, as they make up a small percentage of sales. Rather opt for a business that targets both locals and tourists, as this will ensure you will get enough customers and respectively more profits.
Choose an industry with as little competition as possible. Ensure the business you choose is well-liked by local people, as they will be your main clients. It is not a good idea to start a go go bar for example, as locals will certainly avoid it because of the ethical and moral reasons. On the other hand, if your aim is to attract tourists, you will not succeed, as there are too many other venues of this kind that will attract them.
Keep in mind that if Thais love your business, they will keep coming back to you, so targeting a foreign market only will be a big mistake in terms of making good profits and gaining popularity.
If you still would like to cater your business to foreigners only, consider also the fact that once a decade military coups occur that affect tourism. This will surely affect your business as well if you target tourists only.
After revealing all these facts, we should conclude that targeting mainly local people is the best Thailand finance advice that businessmen can follow. The most lucrative and profitable industry in Thailand seems to be the food industry due to the three main reasons: first, Thais prefer to eat in groups rather than alone; second, the influence of Western food starts to prevail over the local kitchen and third, apartments in Thailand usually do not have ovens, stoves and other kitchen appliances.
Thais prefer to eat together with their friends outside, as their apartments usually are too small to accommodate large groups. Bangkok workers usually eat on the go due to their busy lifestyle and Western influence. Traditional meals with rice are now replaced with breads or sandwiches, pastries and coffee for the beginning of their working day. Thais regularly visit fast food restaurants to have a lunch and dinner with their family and friends.
Since food industry is considered to be the biggest moneymaking industry in Thailand, opening a fast food restaurant here will be a great business opportunity for you. If you want to attract locals, just provide comfortable atmosphere where they can dine out together. If you would like to attract foreigners as well, add some traditional Thai meals in the menu too.
Another great idea would be to make mobile food trucks that will work really well in Thailand, especially in Bangkok and other big cities. They will become very popular attracting young clubbers and workers who would like to find cheap and easy way to satisfy their hunger.
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