Thailand has a lot of potential for a successful business if you:

Have a strong idea and business plan
Have ample supply of funds to start your business
Willingness to understand Thai culture, mentality and be open minded with a huge dose of patience

Before you read any further, my advice is that if you are a casual visitor to Thailand you might want to stay in Thailand much longer to get a better feel of what you will be getting involved in. Unless you have so much money that you don’t know what to do with it (if that is the case please write me a check). And whether you like it or not you will have to learn the Thai language and perhaps even read Thai in order for your business to grow successfully.

Finally, you should assess your goals and think through your plan. If your wish and desire is to open a small business in Thailand with limited capital you have to accept the fact that it might not make you a millionaire back home. However, if your business is successful, you can look forward to having a very comfortable living while enjoying life in Thailand.
How Much Money Does It Cost To Start A Business In Thailand

There is no magic bullet figure. Though it is safe to say that the cost of opening shop in Thailand from start to finish is cheaper than opening one in your home country. Just keep in mind that the cost of opening up in Bangkok will cost slightly more, especially the cost of rent in prime locations which in the big city is higher compared to the rest of the country. But it is also where you can make the most money since the majority of the wealth is in Bangkok.

Manual labor and construction is very affordable. Once the shop is opened and depending on the type of business you are running; electricity, water, inventory and staff salaries are way more affordable compared to the United States. As of writing a salary of 6,000THB – 8,000THB is the norm for Thais working in restaurants, shops and department stores in Bangkok.

Generally, shopping in Thailand is easy, fun and very rewarding. But, the following advice is useful especially when making gem and jewelry purchases:

Don’t be afraid to bargain. While large department stores have fixed prices, most street vendors and shops offering gems and jewelry are prepared to offer discounts to the persistent.

Never let a tout or a newfound friend take you shopping. Stores give commissions to these people and that cost is reflected in the price you pay.

Choose a shop carefully. With gems, for example, make sure it is a specialist in that field and not simply a general souvenir store.

Shops in hotel arcades pay high rents and accordingly prices tend to be higher than at street shops. On the other hand, hotel arcades are very convenient if you have little time for shopping. More over, prestigious hotels generally attract quality shops.

Shop around to compare prices, though be sure to make comparisons between the items–this especially important with gems and jewelry.

Assess the sales assistants. Do they appear knowledgeable? Are they willing to discuss an item’s bad as well as good points?

Take your time, never let a shop assistant pressure you into a purchase.

Obtain a receipt for goods bought and make sure it is correct before leaving the shop.

If you are shopping for Thai gold chains or bracelets, you should make these purchases at large gold shops, not in jewelry shops. These shops are quite obvious as gold is all they sell and the selling and buying price are well posted on the window or wall. Thai gold is almost 100% pure yet often sells for less than similar pieces made of 14-18K gold in the west. Thai gold is very beautiful but very malleable.

Ultimately, your best guide is what you like. Don’t, for example, buy gems or jewelry for the purpose of resale or investment. They may have such appreciation potential, but there are no guarantees. Shop for pleasure not for profit.