Are you are thinking about Business Setup in Thailand? Then, let us reveal some of the best small business ideas that you may start in 2021 in this guide.
Anyway, here are ten new small business ideas and prospects to consider. These ideas will work even if you just have a minimum amount of money to invest.
Thailand is a lovely country in Southeast Asia that is well renowned for its tourism. Tourism accounts for the majority of the Thai economy, and it offers numerous tourism-related small business and investment opportunities for both Thais and foreigners.
Tourism in Thailand is at an all-time high right now. According to the Ministry of Tourism and Sports, the tourism industry accounted for 17.7% of Thailand’s GDP last year. Tourism revenue is expected to climb to 3.1 trillion Baht in 2018, according to TAT (Tourism Authority Thailand). It will increase employment and economic activity in the country. More small firms are likely to open in 2020 and 2021 as a result of these trends.
Consider this field if you are interested in tourism. You may simply create multiple small scale businesses with a minimal amount of capital. The following are some general ideas to consider in this industry.
Tourist’s Guide Service
You can start a tourism guide service for both locals and foreign visitors. Tourist guides are generally hired whenever individuals travel for tourism purposes to avoid any unexpected problems. You have the ability to provide great tourist guidance.
To get started, you’ll need to create a website and optimise it for SEO so that tourists can discover you via email and phone. You’ll also need to establish your company and choose a suitable business location where you can deal with your clients.
Tourism Agency
You can choose certain tourism destinations and then develop group tourism plans in this industry. After you’ve completed your strategy, you’ll need to discover others who are interested in visiting those locations.
Starting a Restaurant
It goes without saying that travellers visiting other cities in Thailand will dine in restaurants. Aside from tourists, Thailand is seeing a rise in the popularity of fast food culture.
People are too preoccupied with their jobs and offices to cook in the kitchen. They choose to order fast food/junk food for this reason because it is readily available in markets.
You can also open a restaurant with little money. You may need a food licence from the local food authority for this. You’ll need to give discounts and improve sales in order to build your small business.
Hotels for Tourists
Foreign visitors to Thailand frequently stay for many days and require economical hotel accommodations. You can also open your own tourist hotel if you have a small to medium investment.
Aside from that, you can earn rental revenue by renting out your additional house rooms to tourists. You may advertise your rooms and hotels on Airbnb and Couch Surfing to attract travellers looking for good, reasonable lodging.
Photography Business
Although this is not a novel business concept in Thailand, it is a lucrative niche. You can easily start a photography business. You’ll need an excellent DSLR camera, a blog/website, an official email and phone number, and a suitable company location to get started.
If you want to create a tourism-related business, you’ll need to put some money into these concepts. There are, however, additional business ideas in Thailand that you may start with no money.
Freelance Business
Although this is not a novel business concept in Thailand, it is a lucrative niche. You can easily start a photography business. You’ll need an excellent DSLR camera, a blog/website, an official email and phone number, and a suitable company location to get started.
If you want to create a tourism-related business, you’ll need to put some money into these concepts. There are, however, additional business ideas in Thailand that you may start with no money.
IT/Software House
Due to cheap labour costs, top-tier countries frequently outsource IT-related activities to developing countries. You can create an IT company or software house in Thailand if you are an expert in the subject and have an extensive understanding of it.
When you start your business, you can provide a variety of services to your customers, including SEO, digital marketing, web development, and designing and building Android apps. To improve your sales, you can take orders from both local and international customers.
E-Commerce Website
Nowadays, the vast majority of Thais choose to shop online. The popularity of online buying is rapidly expanding these days. For you, this is a good business trend and opportunity.
Consider this idea if you want to start a small business setup in Thailand. You can build your own eCommerce website with a modest investment and sell your own products or help consumers and sellers buy and sell products online.
Buying a Franchisee
It’s exhausting to establish a business setup in Thailand from the ground up. It necessitates a great deal of expertise, experience, and dedication. You must also put in a lot of effort to grow your business and establish yourself as a good and reputable brand in the market. If you acquire a franchise in Thailand, you can prevent this.
First and foremost, you must establish the amount of money you have invested. After that, you’ll need to see what franchise business opportunities in Thailand are available to you. Once you’ve found a solid firm that offers a franchise at a reasonable price, make some investments and get your business up and running.
Real Estate Business
It is extremely difficult for foreigners to obtain/purchase land in Thailand for business purposes. It will be simple for you to handle these types of issues if you are a native and have extensive knowledge in the real estate sector.
Simply create a real estate consulting business and offer your skills to both local and international clients to assist them in acquiring land for their businesses.
These aren’t the only business options and small company ideas in Thailand. There are numerous chances and startup concepts available in your country. To establish a successful business setup in Thailand, you’ll need to conduct thorough study and planning before putting your plan into action.
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