There are many business opportunities available for foreigners that would like to start their own business in Thailand. But it is not so easy to choose the right industry to invest in. If you would like to find the Thailand’s biggest moneymaking industry, take a look at the finance guidance that reveals details about the business climate in this beautiful and attractive country.
Thai demographic features are specific and you should learn more about them before starting your own business in this country. It will be a mistake to target foreigners only, as they will bring you only a small percent of earnings. Rather opt for business that will target local people and tourists alike, so that you get more profits from both groups.
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.
Thais are always loyal to the kind of business they love, so the best option is to start a company that will attract them. It will be a mistake to target a foreign market instead, as you will get less profit and you will be unable to develop your business.
Before catering your business to foreigners only, take into consideration the fact that tourism can be affected by military coups, which take place once every decade. This might greatly affect your business if it is targeting foreigners.
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.
So if you are thinking about opening a profitable business in Thailand, you can start your fast food restaurant, or another kind of restaurant, which can offer a comfortable atmosphere for locals to dine out. Such restaurant will surely attract tourists too, if you add some local meals that will represent Thai traditions.
Mobile food trucks are also profitable for this area. They will work well in Bangkok and other big cities and will quickly gain popularity among scholars and workers who search for cheap and tasty food.Google+