ERos Boy Bar in Sunee Plaza for Sale

[Vessey]

From the Facebook page of Stephan Sompong at Eros posted about an hour ago ,

 

It would seem that the bar is up for sale for 1.3m baht

 

Worrying times for those of us who have come to love its sordid debauchery, and perhaps worrying times for Sunee Plaza as a whole?

 

Just says that the current owner has had it for four years and now wants to move on to a new project.

 

Anyone know any more?

[firecat69]

The asking price says it all. He is losing money every week and he wants to find a sucker to buy it from him in Low Season which it definitely will be by the time any deal might close.

[kokopelli]

Is there a reason you are saying he is losing money every week? Business seem to be doing well there and it appears to be a low maintenance operation.

[gerefan]

Is there a reason you are saying he is losing money every week? Business seem to be doing well there and it appears to be a low maintenance operation.

That made me giggle. When have you ever seen ANY maintenance in the likes of Eros, Nice Boys, Goodboys, Kawaii etc., etc!!

[NIrishGuy]

That made me giggle. When have you ever seen ANY maintenance in the likes of Eros, Nice Boys, Goodboys, Kawaii etc., etc!!

 

You'd love to know where the owners get their valuations from, as at a sales estimate of around £27,000 STG I'm guessing it's certainly not based on "fixtures and fittings :-)  

 

Also as they don't own the building, nor (I'm guessing) have a particularly long lease I guess then it must mainly be based on  "goodwill" although in a low season Sunee Plaza I'm guessing that's also quiet low on the ground just now too perhaps.

 

It is I'm guessing also more based on "that's roughly what the current owner paid for it 4 years ago and so he's happy to just get his initial investment back and walk away after spending money for the 4 years "enjoying" his bar  - although the thought of being in there every night watching over your investment ( if he didn't want to see ALL the takings disappear quite fast) whilst there on holiday would be too much even for the most hardened of us I would have thought, so the guy surely get's some credit for sticking it out for 4 years.......but £27,000 STG worth of credit......hmmm that I guess would be another matter.

 

Still, assuming he finds another buyer I'm sure we wish them all the best with it.

[firecat69]

Is there a reason you are saying he is losing money every week? Business seem to be doing well there and it appears to be a low maintenance operation.

First of all I should have said over 52 weeks which is all that counts. Makes no difference if you have big weeks in December and January  if you are losing massive amounts May-November. Having seen asking prices over years in Sunee, this is actually a small amount he is asking.  You only have to have profits of 8-9000 baht per week to pay for your investment in 3 years if you don't value your own time . Having to be there every night to make sure you are not robbed blind.

 

And of course nobody will pay asking price so you have to assume the required amount of profit is even less.

 

I'll admit the Bar holds no interest for me as a customer and I have a hard time remembering their pricing structure for drinks.

 

However I am pretty sure they can't charge for drinks what Boystown Bars charge because their customer base are ex pats who won't pay those prices . And yet the prices they have to pay the police etc probably are the same.

 

If I agree that Eros is a profitable and successful Bar which I don't , it would be the only Bar in Sunee that I can remember that has opened and lasted for any length of time in the last 5 years and of course many have closed .

 

The reason is simple . 80% or more of the Visitors who frequent BT Bars have never been to Sunee or in many cases even know that it exists.

[Guest DThump]

 

This is funny as you see fit to speak for "80% of the visitors", Lol.

[firecat69]

Only a someone who knows nothing about Pattaya or spends no time in BT would argue that fact.

[Vessey]

Now I will preface this by saying that I am no business man - my thoughts are mostly guesswork.

 

We know and love the bar because of its 'liberal' approach to its horny customers , and, with the possible exception of Good Boys, I am not aware of any other boy bar quite like it in Pattaya?

 

So how do you increase advertising and awareness of the bar in the future without risking changing the happily debauched character of the place that brings so many of us back to it time and time again?

 

Yes it has a web site and FB page but the pictures often seem dated and hardly show the boys to their best advantage - actually they are, for the most part, far better looking in the 'flesh'  than they are on their photographs.

 

Perhaps it needs a benefactor rather than a businessman purchasing it. I must try and choose my lottery numbers with a little more care this week! LOL

[firecat69]

There is an old line. If you want to become a millionaire running a Bar in Thailand. Start with 10 million.

 

And if you win the Lottery you would be much better off getting a large house and filling it up with boys and all the friends you would have to visit.

[Guest ryanasia]

First of all I should have said over 52 weeks which is all that counts. Makes no difference if you have big weeks in December and January  if you are losing massive amounts May-November. Having seen asking prices over years in Sunee, this is actually a small amount he is asking.  You only have to have profits of 8-9000 baht per week to pay for your investment in 3 years if you don't value your own time . Having to be there every night to make sure you are not robbed blind.

 

And of course nobody will pay asking price so you have to assume the required amount of profit is even less.

 

I'll admit the Bar holds no interest for me as a customer and I have a hard time remembering their pricing structure for drinks.

 

However I am pretty sure they can't charge for drinks what Boystown Bars charge because their customer base are ex pats who won't pay those prices . And yet the prices they have to pay the police etc probably are the same.

 

If I agree that Eros is a profitable and successful Bar which I don't , it would be the only Bar in Sunee that I can remember that has opened and lasted for any length of time in the last 5 years and of course many have closed .

 

The reason is simple . 80% or more of the Visitors who frequent BT Bars have never been to Sunee or in many cases even know that it exists.

 

The fact that you have made some good observations about Sunee and yet Eros is in death throws should tell us all something. Who in their right mind would buy it? Have any of us noticed the reviews Sunee gets on this site and most others these days? One by one as places drop off there is less critical mass to help the others survive. 

 

With the internet things aren't likely to change. People have pretty much said they aren't willing to spend on bars and pretty much come for sex not to drink. Not a lot of wiggle room for a bar owner. 8-9,000 a week? You say for somebody that doesn't care about money...how about eating? As for buying it to fill your sexual appetite you still have to pay for a fuck. 

 

What could possibly go wrong? Tip for anybody interested... get Arabic speaking ladyboys. There is some good mideast food in the area.

[Guest]

Would be sad, if Eros closed, since it's the only bar where a naked lad can be sat on my lap within 5 minutes of entering.

 

Who in their right mind would buy it?

Exactly. I'm delighted that other people run such an business, but would not throw my own money into running it.

 

Tip for anybody interested... get Arabic speaking ladyboys.

I would not want to deal with that customer base.

[Guest DThump]

The selling of Eros is only a symptom not only the decline of Sunee Plaza but Pattaya as a gay destination. When first I came to visit Pattaya Boystown had atleast twice as many go go bars as it does now and as for Jomtien Complex their are no go go bars and if Thai fem boys and Cambodian boys are not your cup of tea your left with little else except for the usual suspects online.

[kokopelli]

If I agree that Eros is a profitable and successful Bar which I don't , it would be the only Bar in Sunee that I can remember that has opened and lasted for any length of time in the last 5 years and of course many have closed .

 

With all respect, you really don't know what their profit margin is. You don't know if Eros is making or losing money as you have posted.

 

Both Power Boys and Nice Boys have been in business for quite some time and are still viable.

[firecat69]

Well technically Power Boys has changed names and owners ( and been closed) at least twice that I can remember and neither one of them is technically in Sunee Plaza.

 

I never said Eros was making or losing money just that the asking price was pretty low for a Bar if it actually made money.  I commented how much it had to make to return your 1.3 million if you did not consider your own time in a 3 year period...

 

You have to average making 1150 baht per day profit in order to get your money back in 3 years.

 

Pretty minuscule sum to make , so thus my comment that the price seemed low for a Bar that some seem to think makes money. Which of course leads to the question of whether it does make money?

[Guest abang1961]

What just daily profit of 1150 THB to break even?

And this is to be continuous 3 year stable income?

That seems pathetic as if it averages out to that minuscule amount, then owning a bar in that area is a pure waste of time.

 

On the surface, it looks good that you are the owner but actually you have become a slave to it.

There is no way to survive as the investment is much too large to recoup.

I believe the space would be better if it is converted to a NORMAL food court -having a few food stalls selling various Thai dishes. Just sell chicken rice, assorted vegetable rice, ka-moo (sauteed pig trotters, my favourite)  and wanton noodles.

 

At least from what little I'd known, the investment is much much lower.  

Perhaps just a tiny fraction of 1.3 million THB and there is almost zero deco needed.

Just arrange for tables and chairs.  

Business can start almost within a day or two.

 

Also from what little I've known about managing a bar..

The opening hours are way too short to cover the rent.

With a foodcourt, they can sell from breakfast to dinner..sometimes, even supper for the bar boys!

Small breakfast items like stirred-fried noodles, fried rice in Pattaya omelette style (from unsold rice last night, fried rice is always better using previous night rice as the exterior is drier and the internal just as moist) and fish balls for the Thais and for the farangs, Western -style ones like bacons, hot dogs, ham, omelette, toast, cornflakes, milk, butter and strawberry jam (ok, throw in the sugary marmalade) ...low cost, long storage life and used when needed.

[firecat69]

You should buy it! Of course there are no people in Sunee before 6pm so afraid you would not sell much food .

[Londoner]

Surely the rooms above the bars in Sunee are full or tenants? the problem is that most of them are asleep until 1500.

[firecat69]

First of all there are few Bars with rooms above and even fewer people in them during most of the year.

[biguyby]

I hope a new buyer can be found and the the bar continus to operate in a similar way.

I just love to sit down in a bar order a drink and within minutes have a couple of nice erect penis's poking me the face.

[firecat69]

I am guessing the model does not work at the price structure. If they raise their drink prices to the same as BT Bars , but then how many of the expats will flee is the question.

 

Since I have not been there in over a year it would be interesting for someone to chime in with what they charge for various drinks.

[a447a]

There seems to be a misconception here that Eros is closing down. From what I can gather, it's just up for sale and it has been for a number of years, There is no mention of it closing down.

 

Firecat, beer is 130 baht.

[Guest]

There seems to be a misconception here that Eros is closing down. From what I can gather, it's just up for sale and it has been for a number of years, There is no mention of it closing down.

Previous comments are along the lines of "if it closes".

Whilst you would be correct to say the discussion topic is a sale, that sometimes ends up being a closure after many months. Either with current or new owner.

[firecat69]

Thanks A447a. Considerably less then BT and I'm sure drink prices are also.  You are right some people have gone forward with the story to make it that they are closing down.

 

But  if it is for sale at that price (and probably less then it tells me he is sick the business and he is making very little money if any.

 

So we will see in a few months when Low Low season hits if he continues to go to work or lets the business go downhill until it is worth nothing like many other GoGo Bars in Sunee.

[ChristianPFC]

Soft drinks (pineapple juice in Dec 2016) are just 100 Baht (same as Super A in Bangkok). Good luck with the sale, and hope the new owner continues to run the bar in a similar way.