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Do you have a 5 year business plan written yet?

No I don't have 5 yrs plan yet,  do i need one?

suggest that you get good air turnover, clearing the cigarette smoke as most expats have bars back home that prohibit smoking in air conditioned space. means better air for those who work there. Make sure that you can get AFL for the Aussies Friday to Sunday
One small useful tip also is to get 'stubby holders' made that carry your brand, small insulating tubes that hold a cold beer bottle, keeps the suds cold

My friend, not to discourage you, but without a well thought out business plan all you have is a dream at the present time. I wish I could tell you how many people I have dealt with over the last many years that came to me with just what you have. That or I asked them for their business plan and it was a few numbers jotted down on a piece of paper. And at first blush you knew it could never work. For example one lived in a town of 10,000 and was going to open a resturant and have seating for 1.000 and he and his mom were going to be the only employees. Come on, 1/10 of the town is going to come to your place and eat every day.
The bard sounds like a great dream. Slow down get yourself a good book on how to write a business plan. Get that done then see if even you want to invest in the bar. I suspect when all is said and done you ma not have the capital to start it. Most do not. Remember 50% of all business fail. The fact that you ask if a business plan is needed is very worrisome to me. Good luck.

The fact that you ask if a business plan is needed is very worrisome to me. Good luck.

I agree - a business plan is a must! Without this, you are driving on any route without a map! Capital and homework is required here too.

I would also suggest that be aware of hassle/harrassment from the local Government /department once in a while if you havent thought about that. especially for foreighners, I have had some very bad experiences dealing with them and trust me, you cant do anything about it but only satisfy them.

Perhaps every business plan for use in Vietnam needs a line item for bribes.   

Also good advice from mikeymac.  Not all expats are from the US.   You might also look into which local drinking snacks are most popular with expats and consider a local part timer to cook them up as well.   Same goes for ice in beer (bia da).  Peoples taste changes even if they still want to see western sports on satellite.

Thanks guys for the input.  I am expat from usa, and I am teaming up with 4 locals expert in business in vn,  so I leave the business 5 years plan to them.  I want to know is thao dien Quan 2 is good spot for a western sport bar. There will no smoking inside.

Thanks mikeymac for advices on the Aussie sport.  Is there Aussie live in district 2?

Well there goes your money!! Odd that two successful local business experts would want to team up with a newbie to the business world. If they are so successful what do you bring to the deal? Well at least take some photos of the money you pt into it. You will be able to look at the money you lost. There is an old adage " a fool and his money will soon part.

vietcong161 wrote:

Thanks guys for the input.  I am expat from usa, and I am teaming up with 4 locals expert in business in vn,  so I leave the business 5 years plan to them.  I want to know is thao dien Quan 2 is good spot for a western sport bar. There will no smoking inside.

Thanks mikeymac for advices on the Aussie sport.  Is there Aussie live in district 2?

Are you a Viet Kieu?  I think I detect some minor grammatical errors that are common to Vietnamese even those born overseas.  If so, I think it will vastly improve your chances for success as it will help with your local partners and officials as well.

I also wouldn't discount the appeal of no smoking either.  Despite the nearly universal nature of smoking in VN, there are many locals who really don't like second hand smoke.

Thao Dien has already a lot of Restaurants and Bars!

Anhtuancologne wrote:

Thao Dien has already a lot of Restaurants and Bars!

All the better to have one with a unique theme.  I generally tend to throw cold water on people who think they can compete head to head with local businesses but I think the OP in on to something because his place will be different.  I can see a lot of local traffic as well;  not only expat clientele.  Viet Kieu in the US are crazy for American football.  What's to say local guys won't come to his place, even if it is more out of curiosity.  Local women may come too; but more to scout out the expat clientele for eligible bachelors.   

U gonna make tea sua all day?  Ain't easy,  ain't much money,  trust me.

German guy here spent 50k on a kitchen refit,  next day,  after he's paid that months rent.  Landlord has padlocked him out of the property  he'd been renting for two years.

Blatant theft

U will get screwed

Thanks guys again for input. I am taking u guys advices very seriously. Let me ask u guys one question,  would u come to my bar for watching a nba game.

I believe what diazo said about fool and his money apart, but dont u wish u can fulfill ur dream someday even u know u might fail. My bucket list is open a bar and work there till I die

Diazo is not trying to rain on anyones dream of opening a bar. To the contrary, I hope you do your homework and become the most successful bar in all of HCMC and work there until you die. But dreams are dreams. Successful business are built on great planning. Then if you have the ability to execute the plan your dream will become a reality. I like to give this analogy. Can you imagine you and you spouse have a dream of building a 5 room mansion of a home. Yet you have no plan. So you build and you build. You get a third of it completed and you have exhausted all your funds. Dream dashed and you feel as if you failed, and you did. But with a plan you would have known all the costs, etc.
And the young man says his 4 VNese partners will make up the business plan. But apparently they have not, because he did not even know he should have one. I can assure you I would not invest a dime of my money until I saw the business planer those 4 boys have drawn up. I have never seen a Vietnamese use a business plan. I have seen so many go out of business. They seem to have no clue about inventory control, loss prevention, inventory levels ( my word they will stock the next 10 years worth of one plastic bowl). Floor space cost money and it inventory must turn over rapidly or it is dead money setting there. There are just so many things a business lan will tell you.
  Yeah it is cute to encourage people to build this business or that because you think the Aussies are going to flock to it. But the business plan will have provisions in i and the cost of attracting those Aussies.
  At any rate good luck, and I do not want anyone to think I am trying to rain on the gents parade. It has been my experience that new folks into business will only listen to the positive feedback they receive anyway. So you guys sayingit is a great idea with no plan is just what he wants to hear

Although I like your idea, I have to agree with Diazo about financial planning, including contingency plans with worst case scenarios.  I had an acquaintance who years ago was the back-of-the-house partner is some of Waikiki's most successful nightclubs.  After retirement he did a little consulting for people wishing to open bars and restaurants.  He told me that his biggest problem was people who felt that they could run a restaurant because "My wife is a great cook."  His ratio of clients to those he told "Don't do it" was about 50:50.  I think he must have improved the chances of some and saved others from big losses.  I still wish you luck but cost everything out.

Would I come to your bar, NO, I dont like Thao Dien or the NBA. As someone said, get a mix of sport catering for different expats. Be prepared  to only invest what you can afford to lose.

vietcong161 wrote:

Dear expat friends

I plan to open a bar in Thao diem area.  The bar going to be a sport bar showing usa football,bazeball,basketball,hockey, ESPN,  it is a small bar with nachos,hotdog,salsa, and other finger food, 
What u guys think. Please input

Take time out to have a look at the concept at 'PHATTY's Bar' in 46-48 Ton That Thiep Street, District 1, they seem to have it just right...

Apparently Phattys these days has more VN patrons than expats.

colinoscapee wrote:

Apparently Phattys these days has more VN patrons than expats.

Adds to the atmosphere!  ... I would say about 60% expats to 40% locals..

Deepsix6 wrote:

colinoscapee wrote:

Apparently Phattys these days has more VN patrons than expats.

Adds to the atmosphere!  ... I would say about 60% expats to 40% locals..

Ok, I dont go there myself, not my thing. Just heard someone make that comment.

Awesome advices guys. Thanks so much for helping me. I will take my plan very seriously.  Just awesome help from you guys.

Mr.diazo
Idont think u raining on my dream. U are great help and honest. Just Awesome, awesome help.   Thanks very much

It is amazing how succinctly your post exposes reality of trying to do biz in vn. Ive run across these same stories mysrlf in hcmc and other cities. There is no rule of law in vn...the sheep must be fleeced.