Transcript of the above video:

As the title of this video suggests, we are discussing the notion of buying a bar in Thailand. This is something I see across YouTube constantly. There are all these videos about buying a bar in Thailand. 

People have sometimes asked me and in fact in the last couple of days I have gotten more than one email on it so I just thought I would throw this video up. They asked me what do I think about that notion etc. I think there may be some interest peaked right now because obviously Thailand had come through quite a down-stroke with respect to the overall entertainment industry and folks might be out there looking for a bargain when getting into this business. I don't know; that is just speculation on my part. 

That said, to the question of "Is buying a bar a terrible idea?" Well it depends. I have seen people be very successful in that industry; I have seen people open and close within a month. It really does vary. I think it depends on the person. I also think it depends greatly on expectations. I think a lot of people think running that type of operation is just going to be 24 hours of fun because maybe they like going to bars, they like having drinks with friends and things. Believe me when I say this, the folks that I have seen that make it in the bar business or the restaurant business for that matter, they work all the time. You have got to be ready to do a lot of work associated with maintaining that kind of operation. Frankly that would be the best, for lack of a better term advice, I can give to anybody looking and watching this video is go in with the expectation that it is not going to be fun. In fact most of the folks that I see that I have watched closely over the years that are in that business, they kind of operate that way. They operate as if it is if it is not particularly fun and then every once in a while they get to have a good time on the job, kind of an extra bonus. 

So again, just one man's opinion but no, in and of itself it is not a terrible idea per se. I have seen it go very bad and I have seen it go very good.