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chotaerang
Joined: 23 Mar 2004
Location: In the gym
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 Posted: Tue Feb 23, 2010 5:02 am Post subject: Could successfully run a hagwon? |
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| I've been thinking that hagwons for elementary school students look really good (CDI, Topia...). If you had an investors visa and the desire to run a hagwon, what do you think it would take to win students from those academically and financially strong franchises? Thanks for any input. |
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Senior
Joined: 31 Jan 2010
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| Posted: Tue Feb 23, 2010 5:09 am Post subject: |
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| It wouldn't take much. The hoops would be your biggest obstacle. Good luck. |
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frankly speaking
Joined: 23 Oct 2005
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| Posted: Tue Feb 23, 2010 6:16 am Post subject: |
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If you have been here as long as your sign up date for the forum, you should know that reputation is everything. It takes a lot more than just having a good curriculum, you need to be able to sell the parents. Most foreigners just don't know how to advertise for Koreans. Those that are married usually have their spouse do the Korean parent side, which is usually a mistake also. I wouldn't get into business unless the person was a shrewd business partner. Takes a lot more than just speaking English.
Good luck if you do it. Personally, I think that now is the perfect time to start a business if you have the money. No one is doing well financially overall, everyone's profit margin has taken a slight hit. Since all first businesses take a few years to really start to make a profit, getting established now provides you the reputation when the economy rebounds in a few years. |
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Sector7G
Joined: 24 May 2008
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| Posted: Tue Feb 23, 2010 6:56 am Post subject: |
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| frankly speaking wrote: |
If you have been here as long as your sign up date for the forum, you should know that reputation is everything. It takes a lot more than just having a good curriculum, you need to be able to sell the parents. Most foreigners just don't know how to advertise for Koreans. Those that are married usually have their spouse do the Korean parent side, which is usually a mistake also. I wouldn't get into business unless the person was a shrewd business partner. Takes a lot more than just speaking English.
Good luck if you do it. Personally, I think that now is the perfect time to start a business if you have the money. No one is doing well financially overall, everyone's profit margin has taken a slight hit. Since all first businesses take a few years to really start to make a profit, getting established now provides you the reputation when the economy rebounds in a few years. |
Interesting take. I know that anyone opening this type of business has to have enough of a reserve to withstand the lean early times. But are you saying that in bad economic times this period would be no worse than in good times? Isn't there a danger of going even further into the hole, and at a more rapid pace? This is a genuine question, no sarcasm intended. I find it kind of intriguing.
Anyway, I definitely agree with your advice about selling the parents, especially the moms. The mom grapevine could make you or break you overnight. Keep the moms happy! |
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BigBuds
Joined: 15 Sep 2005
Location: Changwon
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| Posted: Tue Feb 23, 2010 11:10 am Post subject: |
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I've owned a hagwon for going on near six years now. It helps if you're married to a Korean.
It REALLY helps. |
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sarcean
Joined: 17 Jan 2010
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| Posted: Tue Feb 23, 2010 12:58 pm Post subject: |
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So ready to hire me BigBuds?  |
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