World Bank recognizes Thailand as “one of the great development success stories” It is the second-largest economy in Southeast Asia, after Indonesia. Tourism is a major economic factor in the Kingdom of Thailand. Bangkok is the largest city in Thailand. Additionally, it is one of the most popular tourist destinations for foreigners. Thanks to the liberal government policies whether you are a resident or non-resident, you can startup a business in Thailand.
Profitable Business Startup Ideas in Thailand
Baby Product Business
There is a boom in global baby care market and the need of various baby products are increasing very fast. The major growth driver is the products used for longer periods by the infants. In addition, the parents want the best available products for their baby, therefore disregarding the cost of certain products. The cost of various products in Thailand is below average compared to the global pricing pattern so it gives immense opportunity to start up business related to these products.
Beer, it’s the best drink in the world. Beer makes one feel the way one ought to feel. Brewery business is actually a restaurant and microbrewery combination that normally offers craft beer with different customized tastes and flavors to their clients’ on premise. Thailand is a perfect destination for leisure businesses which guarantees high return on investment.
Entertainment is ensured in Thailand. A catering business is a perfect opportunity for people who love to cook. It is a profitable business and benefits a lucrative margin to the owners. It can be a part time opportunity too. It is a demanding startup business opportunity.
These days various product and service at home delivery is trending. Thailand is a developing country. Additionally, the service-based industries hold a major position in the country’s GDP. These services are in high demand and saves time and money of set up cost . Either a foreigner or Thai citizen, one can consider starting a delivery business there of any FMCG product or at home consumer grooming or house set up services
Digital Marketing Agency
Consumers are savvy. They are very aware of what’s an ad, whether that be a banner on a website or paid search. The modern digital marketer needs to find ways where marketing is a natural conversation; not an intrusion. Starting a digital marketing agency in one of the most lucrative opportunities in the advertising industry. In addition, this is the most trending phenomenon these days. However, starting this business demands an adequate knowledge-based experience. Proper knowledge and expertise cab get one success. Startup digital agencies can make a mark with proper channel of proposition.
There is an adequate demand for driving school as the four-wheeler population is increasing fast in the city areas of Thailand. Hence, it creates a demand for a good driving school. Definitely, the new car owners always look for the right guidance. Starting a driving school is a self-rewarding and profitable business
Globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation. Thailand is a member of the World Trade Organization (WTO), the Cairns Group of agricultural exporters and the ASEAN Free Trade Area (AFTA), and has pursued free-trade agreements. In addition, its economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product (GDP). It offers huge prospects to start up a venture which ensures prof.
Graphic Designing & Web Designing
Creative minds have huge avenues to walk on with the increasing need for attractive marketing campaigns and promotions enhances the demand for graphic design services. Starting up a graphic design agency leads to various opening of doors. Web designing business demands adequate skill and knowledge. In addition to that, you must have some networking and marketing skills for starting this business.
The working area of a handyman service business is wide A handyman business is simply providing the services of a small job or task for the clients who lack the skill or time to complete the work themselves. Generally, this type of work includes maintenance, repair, and remodeling, plumbing, refurbishing, and electrical jobs. It gives immense opportunity to set up own firm and delegate responsibilities.
Jewelry designing institute business has enormous market potential because nowadays jewelry designing as a career is flourishing like never before. Opening a jewelry designing institute in Thailand is a great business to start. There is always a demand in the global fashion industry for professionally qualified jewelry designers from across the world and huge requirements from the client to market fancy jewelry which makes the fashion statement.
Nobody looks back at the night where they have slept it through. Nightclub creates memories. Owning and running a nightclub can be a very exciting, luxury and lucrative business for an entrepreneur. People want to get socialized with others and they are willing to pay to use a gorgeous venue dedicated to the purpose. Success in the night club business is very much possible if done properly. It is demanding and lucrative.
Passion and focus of a dedicated photographer ensures 100% succeess in picturesque Thailand. Thai business usually hires photographers for specific jobs by different clients.
Rain Water Harvesting
Harvest the rain, reap the grains. The rainwater harvesting business model is a sustainable way of initiating a profitable venture. Rainwater harvesting is a technically proven system to collect and store the rainwater into natural reservoirs or tanks. There are two processes to store rainwater. One is surface runoff harvesting and another is rooftop rainwater harvesting. In an urban area, rainwater flows away as surface runoff. This runoff could be caught and used for recharging aquifers by adopting appropriate methods. Through proper knowledge and effort this business model has high return on investment.
A big business starts with small. Retail employs more than six million Thai workers. Most are employed by small businesses. The retail industry worldwide is one of the major revenue earners for the economy. Retail business is considered as one of the most low-cost and profitable startup operations.
Real Estate Business
Investment on real estate is an imperishable set. The property industry broadly cover the areas of rents, domestic housing, capital market, office space, retail and industrial space. The global investable real estate universe will expand substantially, leading to a huge expansion in opportunity, especially in emerging economies. The ital. investment is high but if the business shapes up return will be more than double.
Small Scale Manufacturing
Think big, start small. Scale up. The most important sub-sector of the industry of Thailand is manufacturing. And the manufacturing sector is pre-dominated by SMEs, small scale business helps to earn lucrative revenue. Product manufacturing is one of the most popular business formats globally. With a reasonable capital to start off one can plan the venture.
Investment in travel business is an education in itself. The travel agency business is actually providing services, in making travel arrangements on behalf of your clients. Due to COVID it has off late taken a back seat but eventually it will prosper. Breaking into this business is a great way to start a service-based business from an office location.
Great business start as the owners want to change things for better and not run after fast buck. Nothing could be more fulfilling than starting a business of your own. Starting a business in Thailand is very easy. Patience, perseverance and hard work with government help leads to great success. Grab the right opportunities and analyze them to see the ones that are most likely to be profitable in the long term. Thailand market economy is flexible and boosts growth for businesses which aspires to grow big.