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.
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.
Taking all these factors into account, we can conclude that the most profitable business in Thailand is the one that targets locals mainly. The best option to go for is food industry because of the following three reasons: firstly, local people don't like to eat alone but rather in groups; secondly, just like everywhere, Thai kitchen starts giving up its place to Western foods and third, most apartments are not equipped with kitchen appliances like ovens or stoves.
Thais do not have large apartments where big groups can gather, that is why they prefer to eat outside. Due to their busy lifestyle and the increasing influence of the western culture, local workers eat on the go. They now rarely consume their traditional meals that contain rice, rather opt for pastries, sandwiches and coffee for a breakfast, while they visit fast food restaurants to have a dinner with friends and family members.
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.
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.
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.
Taking all these factors into account, we can conclude that the most profitable business in Thailand is the one that targets locals mainly. The best option to go for is food industry because of the following three reasons: firstly, local people don't like to eat alone but rather in groups; secondly, just like everywhere, Thai kitchen starts giving up its place to Western foods and third, most apartments are not equipped with kitchen appliances like ovens or stoves.
Thais do not have large apartments where big groups can gather, that is why they prefer to eat outside. Due to their busy lifestyle and the increasing influence of the western culture, local workers eat on the go. They now rarely consume their traditional meals that contain rice, rather opt for pastries, sandwiches and coffee for a breakfast, while they visit fast food restaurants to have a dinner with friends and family members.
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.
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.
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