Thailand has a very broad appeal to foreigners. Wonderful weather, especially near the beach in cities like Pattaya, normal people are great, and the cost of living can be quite attractive. All of that being true, it’s no surprise many look at bar and nightclub Pattaya business opportunities with very wide eyes.  My suggestion, as someone who has “been there and done that”, it’s time to slow down and consider the reality of a foreigner who wants to own a bar or club in Pattaya. There’s many things to consider, before taking this big leap of trust (and risk) if you are smart, and the details can be vital to your future success.

Here’s a list built from experience. Take a look.

1. The Mystery of Key Money.

In most places “key money” is a payment given to a former owner to give up the keys to a bar or nightclub and this money is subtracted from the total you have agreed to. Not necessarily so in Pattaya or the rest of Thailand. There you are running the strong possibility the former owner expects this money on top of whatever is agreed to. Even worse, this money could be owed AGAIN in years to come. Have a lawyer on your team.

2. Don’t Assume the Real Estate Owners Also Own the Furniture and Equipment in Pattaya Business Opportunities.

You would be far from the first person to be told your price “covers everything” to show up at your bar or nightclub and find it completely empty. Yes, someone else owned everything but the building and they’ve taken back their property. This is a cruel but common piece of deception to fall victim to.

3. Look Closely at Your Lease.

Many leases are for just one year. This means if your business is successful the lease price can skyrocket for next year and your business be taken over as you are priced out. Not so much in Pattaya but in some other Thai cities, some entrepreneurs have been surprised by monthly leases! Again this stresses the need to have a local lawyer and someone with experience with boots on the ground.

4. Not Only Will You Need a Thai Partner but Also a Thai Work Permit.

A majority of foreigners opening a bar or nightclub in Thailand or who buy an existing one use a Thai silent partner, as a legal requirement for a non-Thailand citizen. They then go on to manage and do whatever else is necessary to run their business. What many forget is to get a work permit for themselves, or else they can expect headaches galore. Don’t get caught in that trap.

5. Consider Going With a Thailand-Focused Investment Fund Instead.

A complete solution to all of these headaches, while still developing income from Thai bars and nightclubs, is investing in something like PrivacyStone Fund. Operated by deeply experienced professionals in Patttaya and other Thai cities the investment fund gets into hot and soon-to-be-hot bars and nightclubs and delivers an attractive return while doing all the heavy lifting. For foreigners it is an eye-opening opportunity not present in years past.

Tourism in Thailand is a potential goldmine for those able to navigate its tricky and often shark-infested waters. Enter awake and aware, and good luck!