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Archives for August 2021

Opening a restaurant in Thailand

Opening a restaurant in Thailand

You might already thought about opening a restaurant in Thailand to contribute your unique taste in the “Kitchen of the World”. Well, that’s a good idea, but here are some pitfalls you should wonder about.

No matter what type of business you are attempting to run, Thai company registration laws apply to you and vary depending on your type of business.

The bad news that you can’t just easily and legally run a 100% foreign owned restaurant in Thailand, because  the bar and restaurant ownership in Thailand is subject to the rules and regulations contained within the Foreign Business Act.

The only one way is to find Thai partner who you can trust and open a Thai company. That means the majority of shares in this company must be owned by that Thai citizen. And you as a foreigner can only own up to 49% of that company. This limit can be exceeded or exempted for certain business activities, if a Foreign Business License is granted, but not in this case.

The process of opening a restaurant in Thailand

The process begins with reserving the name of the company with the Department of Business Development. You have to submit a minimum of three company names which follow current ministry regulations. The DBD will choose then one out of the three.

Next, the promoters must file a Memorandum of Association with the Commercial Registration Department. If you are going to have foreign workers, some requirements must be met:  2 million baht minimum registered capital and 4 Thai employees per one work permit for foreigner.

After filling a Memorandum of Association directors should submit an application within 3 months to register the company.

Once registration is finished, the company can begin the process of getting business licenses and start the operation of its new business. For restaurant, you have to get food license from FDA Thailand as well as alcohol license, in case you want to sell beer and other sprits.

If you have personal questions, don’t hesitate to contact ThaiLawyers – qualified English speaking lawyers that can help you to go through entire process of registration step by step.

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How to Write a Business Plan For Your New Startup

So you have a new idea and are excited about it. We want to hear about it too. Here we want to talk about how to write a business plan for your new startup. We will cover most of the things that your future investors and lenders need to see so that they understand your vision. If you don’t know how to write a business plan for your new startup, it is OK. We can help you do it.  With our help, it is very likely that you will be able to get funding.

Normally a startup business plan has a one-page Executive Summary in the beginning, which is a summary of the whole business plan. Some readers only read the executive summary and can make a decision already. The business plan should have at least the following topics:

  1. The Company or your background
  2. Mission & vision

– Mission – Describe your organization’s mission

– Vision – Describe your organization’s vision

  • Management team – List the people behind the idea and briefly describe their role.
  • Products / services – Describe features and benefits of your products and services.
  • Technology and innovation applied – Explain why your startup is innovative.
  • Industry description/ competition/ trends

– Industry description – Explain how your startup impacts to the targeted industry*.

– Competition – Who are your competitors (company or business)? How is your product/service different from others? What can you do better that really matters to consumers or profitability?

– Trends – How do you see the overall trend affect your product/services?

  • Marketing & sales strategies

– Marketing strategies – Who are your target customers? How are you going to promote and distribute your products/services?

Sales strategies – How are you going to get customers or clients to buy your products/services?

  • Financial plan/ Exit strategy/ Funds required

– Financial Plan – Explain funding & investment plan. How are you going to seek funding? What are you going to do with the money?

– Exit strategy

– Funds required

  1. Revenue model – Explain how the startup is going to make money, the average price of sales or services the startup will receive and from which group of customers, etc.
  2. Growth strategies – Explain your growth objectives and how you intend to develop your startup business.

Contact MSNA Group for our expert advice because we know how to write a business plan for your new startup!

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