Shopping to buy a small business

http://sangquan.com.vn/http://www.sangnhanh.com/http://sangnhuong.com.vn/http://sangquancafe.com/http://cansanggap.vn/

Kindly connect with me, as I have a very interesting (franchising) business that you may be interested in ...

My email is *  interested in franchise biz.

Franchises can be very good and at the same time be very bad. I had a franchise here and the support from the head office overseas was deplorable. Hence the company folded here in Viet Nam, yet it still operates in many countries, VN is not an easy place to do business.

You are absolutely right that if the Franchisor is nowhere near to support the Franchisee, or not interested, it can be disaster (for both parties!). Our company teaches the benefits of a franchising model, its pro's and con's, how/where to best franchise a business, and even whether it is franchise-able or not (not all are), etc. Look forward to a chat together ...

nosugar_please wrote:

Where would you start looking for ads showcasing small businesses for sale. Such as restaurants, retail, cafes... I'm thinking frequently used websites or other listings. In HCMC.

Hi there,

From what Yogi has observed ,  the best way into a small business venture around here is to buy a Big one .......and wait.

Hmm, some saying running a business in VN might be a challenge But in fairness, in any location where the relative cost of starting a business is low you will find a lot of first timers making every mistake possible. I would expect this is the main reason the already high normal business failure rate seems higher over there? My ears are open to any ideas around what would make running a business comparably more difficult in VN?

Obvious differences are labour-culture, regulation and traffic. But ask any business owner getting started anywhere and they will have the same concerns.

One of the things I found difficult was the ridiculous amount of paperwork. The Vat system used to have a total of 19 reports per year. If the person at the VAT office that you are dealing with moves, the new official will ask you to submit more paperwork to bring them up to speed in relation to your business. Then there are the police, fire department, tax man and various other officals all trying to extort money from you.

The list of reasons why running a business here can be difficult could be long. But start with the crazy prices one has to pay for rent and you will realize it is an uphill battle. Take the resturant business where rent should be 6-10% of gross sales and you will soon see how much over that you would spend. Many in a good location in Saigon are paying $5,000na month. That would mean you would have to have gross sales of $50,000 a month. Ain’t happening. My rent is North of 25% and my sales do not come close to the margins. What saves us here are low wages, no insurance to include workmen's comp. But difficult to hire and train to Western standards. The work ethics here will drive one bonkers.

"But difficult to hire and train to Western standards. The work ethics here will drive one bonkers."

Been there, done that, couldn't agree more. Laziest buggers I have ever employed in 20-years of owning businesses.

Yogi007 wrote:

nosugar_please wrote:

Where would you start looking for ads showcasing small businesses for sale. Such as restaurants, retail, cafes... I'm thinking frequently used websites or other listings. In HCMC.

Hi there,

From what Yogi has observed ,  the best way into a small business venture around here is to buy a Big one .......and wait.

Quite easy to make a million dollars here, start with 3, then wait.