I'm thinking about buying a bar in Nha Trang, Vietnam. Any advice anyone?

Question

I'm thinking about buying a bar in Nha Trang, Vietnam. Any advice anyone?

Answer 1

A better place to do it would be on Phu Quoc Island.

The airport is going to be moved in two years and where the new airport is, the land is clear. It would be an ideal place to setup a nice hotel and bar.

First thing the tourists see when they get off the plane.

Nha Trang is too done with too many white pieces of trash scumming around there. Nothing respectable anymore.

Been there 6 times...and yes...I am also white...haha.

Answer 2

Being in the industry, i must agree that it's not a good idea. Claims that the Vietnamese market is opening up is definately not true. This is something we have been mislead to believe. I have been observing for more than 10 years and nothing much has improved in terms of benefits for foreign investors. A better option would have to be Singapore. It's more sound to invest in Singapore than any where else in Asia at the moment.

Answer 3

Well my advice is dont.Its a little hard to go into detail without more info,such as how long have you lived here,how well do you know the bar scene,what are your Vietnamese contacts,have you a VN partner,{you do know you cant actually own the bar,I'm presuming your not Vietnamese]The more detail you can give,the more advice i can give,obviously you dont have to take it,but i live here and i promice you its a minefield.

Answer 4

I think ong jon has the answer.  cheers

Answer 5

i think you should invest your money in some other business.

just my opinion. i hope it works out for you!!

Answer 6

there are already a lot of bars in nha trang ... i see 1 or 2 fold every year. as many travelers that pass through that city there are not enough to keep all the places going . that said if you can afford to buy the overpriced land [ if you rent and are successfull your land lord will want more and i've seen a lot of land get sold out from under even successfull bars.]there and hold on for a few seasons, if you wake up sceaming with new ideas every day and willing to work real hard , you can survivem others have.   the sailing club one of the most successfull places i'v ever seen anywhere has to cone up with a new look every year and new ideas every day.... and they have great help ftom the top down.