Understanding Vietnamese Life Partner

[Hurricane88]

Originally Posted by mace

Realistically, of course i would wan to use as less capital as possible to hit net 4k income. maybe u can advice me and other bros who ar interested as well that what kind of business are suitable based on the amount of capital we put in. For example <50k = xxx business, <100k = YYY business, <150k = ZZZ business etc.
Thks for ur valuable input if it is allright for u to share ur experience and other bros who are experienced in this might chip in ur valuable input as well.
cheers

Bro singviet is too nice and diplomatic in his answer...here my views after so many trips and looking at opportunities...no biz is guaranteed to make money in hcm...10k investment can only setup a small stall selling food, drinks, apparels, etc...dun think can earn 4k per mth...100k investment can setup a shop house selling food, cafe house, etc...maybe can earn 4k per mth...depends on location, management and turn over, etc...

[vagrant]

Originally Posted by Hurricane88

..10k investment can only setup a small stall

Running a modest-size biz in HCM is really expensive. I know of a viet fren who recently started a salon and massage biz located in district 3 with her frens. Staff number about 20. Monthly rental of the place alone is about US$12k

[mace]

Originally Posted by vagrant

Running a modest-size biz in HCM is really expensive. I know of a viet fren who recently started a salon and massage biz located in district 3 with her frens. Staff number about 20. Monthly rental of the place alone is about US$12k

wooh, think ur frd will be better off by buying the place. If he can afford 12k rental, he can actually just buy the whole place with bank installment lesser than that.

[mace]

Originally Posted by SingViet

When i first started biz in HCMC, i only pumped in S$12k. That was about all that i had during that time. But its much easier to do biz then as there were many unexplored areas. But nowadays, almost every sector is filled with lots of investors, and of course, capital needed is much much more. I can't be telling you what biz needs how much capital, and how much u can earn from it. No books will tell you this and doing biz has no SOP. But what i can say is DO SOMETHING U ARE FAMILIAR WITH.

oooic. maybe i should start small so the risk will be lesser. Maybe i can try setting up a lan/internet shop. Although there are millions of these shops ard in HCM, it seems that it is 1 of the few shops that are constantly fillup with customers. thks for ur input thou.

[leecs]

Their charges are very cheap, & i mean cheap. I don't know whether can earn or not... just my 2 dong worth

[Hurricane88]

Originally Posted by vagrant

Running a modest-size biz in HCM is really expensive. I know of a viet fren who recently started a salon and massage biz located in district 3 with her frens. Staff number about 20. Monthly rental of the place alone is about US$12k

hello...running this biz in hcm is not consider modest but relatively big biz...USD12k rental means renting at least 3 to 4 stories liao...average salary is USD100 x 20 = USD2,000.00 per month...so monthly fixed expenditure will be around USD20,000.00...I think the renovation and equipments cost will be at least USD 100k above...

[vagrant]

Originally Posted by Hurricane88

not consider modest but relatively big biz..

Well bro I did not ask much details so cannot comment on the scale of biz. But heard from her that if do whole package ie. haircut + facial + manicure + pedicure (cannot remember include massage or not) the charges come up to about SGD$120. Not too sure how this compares with charges of similar setup over there. I think you are much more qualified to comment on this

[Hurricane88]

Originally Posted by vagrant

Well bro I did not ask much details so cannot comment on the scale of biz. But heard from her that if do whole package ie. haircut + facial + manicure + pedicure (cannot remember include massage or not) the charges come up to about SGD$120. Not too sure how this compares with charges of similar setup over there. I think you are much more qualified to comment on this

Yes, SGD120 should include massage and spa...otherwise this place sure to close shop because so expensive...LD group is around this prices if I am not wrong...

[leecs]

Some comments I've read in a site on informal rules for doing business in vietnam:

1) Learn about saving face.
2) Remember that we, expats, will always be a guest here in Vietnam no matter the length of time we spent here
3) Have a lot of patience.
This is a wonderful place to live and i am happy I am here. I have learned to live by the above 3 rules at all times.

Never assume anything, even if you have a signed contract in black and white. If you have to resort to collections or taking someone to court, you can forget about that deal.

"Chử tín" is one of the famous word in the vietnamese traditional behavour/cultur, but it seems to change. A deal will not be found if promises/words can not be hold whether in vietnam nor elswhere.[/COLOR]
The golden rule is : Always expect the un-expectable. Because it's what happens.

Contrary to others answers on this thread, I dont agree with this "loosing face" issue. There's no big deal. Just be polite and everything will be fine. Furthermore, you will quickly realize that people want to save their face, but they have no problem to make you loose yours.

Few other rules:
- Patience is essential
- People in business have 20 years late on the western business practices
- Standard of quality is very low
- Speaking VN opens any door
- Most of management boards are filled with idiots.
- Business is often a family matter. Which explains why you find so many idiots (a good family connection gives a top management position, instead of skills and experience)
- Get prepared to make lot of "gifts" to people in various public administrations. Thats the only way to get the papers quickly.

For me, to do business in Vietnam requires much greater effort and attention to the 3Ps: Preparation, Patience, Perseverance.

I have not found "face" ever to be much of an issue if you understand that the VN party may be forced (through whatever reason), to reverse a previously agreed decision. If you jump up and down and create a "scene" about "contractual obligations" or whatever, things will only get worse.

However, if you give some ground (i.e. "... maybe we did not fully understand the XYZ, let's blah blah blah, ...") with a conciliatory approach, deals DO get made.

Thomas is right that speaking Vietnamese is a huge advantage ... SOMETIMES, but one that must be used wisely. Although I speak very fluently, and have done so for nearly 20 years, I always insist on having an impartial interpreter during critical negotiations. As a professional translator, I always insist that contracts be in both languages ... and I have final approval of the English version because I understand the Vietnamese.

Thomas' comment about "good family connections" is also right on the money! As an ex-teacher of 20th century Vietnamese history, I can say that this attitude has its roots in an extended period of wartime political and governmental upheaval. Those situations make business very problematic when you have to trust people via a contract which the law may or may not recognize tomorrow, next week or next year. Better to "keep things in the family". Totally understandable in my book, however short-sighted that attitude may be in the modern Vietnam.

If anybody cares for any more, prompt me with another question, position or situation

[jackbl]

Originally Posted by leecs

Although I speak very fluently, and have done so for nearly 20 years, I always insist on having an impartial interpreter during critical negotiations. As a professional translator, I always insist that contracts be in both languages ... and I have final approval of the English version because I understand the Vietnamese.

As an ex-teacher of 20th century Vietnamese history...

Found another expert in viet language..... Hope u can post more info on news, history, geography, etc on vn in the "Tieng Viet Lovers Club" thread. thank you......

[Sha_Gua75]

Originally Posted by jackbl

Found another expert in viet language..... Hope u can post more info on news, history, geography, etc on vn in the "Tieng Viet Lovers Club" thread. thank you......

Brother...if he is that good...he dont need to ask for help in translation liao in that thread....

Originally Posted by leecs

Thanks for the translation. I've used vdict.com. but results are not as good. This thread is a good place for learning viet language.

Originally Posted by leecs

Oh, sorry. I smsed her " Anh nho em nhieu nhieu".

Then she replied: "Co Kg Cu".

[leecs]

Originally Posted by Sha_Gua75

Brother...if he is that good...he dont need to ask for help in translation liao in that thread....

No no. you got me all wrong. Im not that good anyway. I've read some comments about doing business from another site, so i decided to post it here. Its all copy & paste.

Im fucked up in Tieng Viet... Still need you guys youe guidance...

[SingViet]

Originally Posted by Sha_Gua75

Brother...if he is that good...he dont need to ask for help in translation liao in that thread....

hahhah, bro, you damm good la. Don't appear don't appear, once appear come up with facts and proofs, just like your job

[jackbl]

Originally Posted by Sha_Gua75

Brother...if he is that good...he dont need to ask for help in translation liao in that thread....

Originally Posted by leecs

No no. you got me all wrong. Im not that good anyway. I've read some comments about doing business from another site, so i decided to post it here. Its all copy & paste.

Im fucked up in Tieng Viet... Still need you guys youe guidance...

Originally Posted by SingViet

hahhah, bro, you damm good la. Don't appear don't appear, once appear come up with facts and proofs, just like your job

Sorry to cause so many confusion Its my fault....

Bro SG75, long time no see.... Though never see u wane your sword for long, but its still as sharp as ever

[Sha_Gua75]

Originally Posted by SingViet

Don't appear don't appear, once appear....

Originally Posted by jackbl

Bro SG75, long time no see....

Busy....Very busy....going to be more busy next 3 yrs too....