การศึกษาความเป็นไปได้ในการลงทุนสร้างหอพักสำหรับนักศึกษา ตำบลแม่กา อำเภอเมืองพะเยา จังหวัดพะเยา

Abstract

The objective of this independent study is to use the results to make investment decisions in student dormitories in Maeka Subdistrict, Mueang Phayao District, Phayao Province. For this study, data was collected from 392 University of Phayao students by using a questionnaire and in-depth interviews with 5 entrepreneurs in Mae Ka Sub-district, Mueang Phayao District, Phayao Province. The current political and administrative situation in Thailand means many unpleasant things. In investing in a dormitory project, it is necessary to study the city planning laws, including the collection of taxes. The opening of the country has resulted in an overall improvement in the purchasing power. The cost of operators is still high. Most of the students at Phayao University have an income of 5,000–10,000 baht, which reflects the low cost of living of the students when they come to live in Phayao Province. Nowadays, online channels have become the main channels that can reach the target audience and increase business opportunities. The marketing terms indicated that the people factor was the highest level that respondents gave the most importance. At present, the amount of accommodation was still insufficient for the number of students, which made the bargaining power of the buyers low. The bargaining power of the seller depends on the operator's experience in construction, and substitute products rarely affect the dormitory business. We found that the project has an area of 1,928 square meters. The dormitory building is 4 stories high and consists of 1 office room and 89 guest rooms. The total construction cost is about 40 million baht. It can be divided into building costs of about 36 million baht and machinery and equipment costs of about 4 million baht in technical terms. In management terms, the project is implemented in a corporate form. The organizational structure consists of dormitory managers, technicians, cleaning staff, and security guards. This project has pre-operation costs of about 600 thousand baht and an estimated total income and expenses of about 118 million baht and 87 million baht, respectively. In terms of finance, the total investment was 41 million baht in this dormitory business, divided into 30 million baht for owner’s equity and 11 million baht for loan equity with an interest rate of 5.69 percent. For a period of 20 years of business operation, it was found that this project should take 16 years and 8 months to achieve payback, with the negative net present value (NPV) at 17.63 million baht and the internal rate of return at 4.52%, which was less than the expected return at 5.73%. The results of the analysis concluded that this project has no investment feasibility.