Korean Job Discussion Forums

[FDNY]

Wife and I moved into a 205 square meter (62 pyong) apartment last month. We converted one wing into two classrooms, a library and school bathroom. We went to the dong office with our lease and degrees and ten minutes later had a study room license. We are allowed teach up to nine students per class. We asked about fees and apparently they are at the discretion of the education office of where you live. Where we live there are none. However, we are charging the going rate of 200,000KRW per month. So far we have 24 students and I teach them Monday and Wednesday. (I do my usual privates on the road Tuesday and Thursday.) My brother-in-law teaches them grammar on Friday. We haven't even started advertising yet, but I would eventually like to teach Mon/Wed classes and Tue/Thu classes. Get about 30 students for each class set and that is a tidy 12,000,000KRW per month for about 24 hours of actual teaching per week.

Theoretically we could have a six-day, three set system, (Mon/Thur; Tue/Fri; Wed/Sat) maxing out students in each class. Say seven classes per day. This would be: (seven classes per day) X (nine students per class) X (three class sets) = 189 students This would be 37,800,000KRW/month or a nice 453,600,000KRW/year.

[Sesame]

lol at your theoretical scenario. Will never happen. Most people bottom out at 50 students. What will you do when student enrollment is down or grow out of your program or they simply stop going? You need a plan B.

And sorry to tell you, but no one gets rich off gong bu bangs. And maybe 20% do get wealthy off hagwons. But you are years away from even thinking about that.

[Fox]

FDNY, it sounds like you're doing well for yourself. Congratulations, and I hope it all meets your expectations.

[Ballerina2012]

What type of visa?

[Troglodyte]

The Wednesday-Saturday classes might not be so popular since weekend schedules tend to be different from weekday schedules. You might try a combination of Tues-Thurs and Mon-Wed-Fri and then have separate weekend classes, either Sat-Sun or just intensive Saturdays.

There are a lot of Koreans who do what you're doing. It has low overhead and it's a lot more convenient to have the students come to you than for you to go to them. Keep in mind though that most of your students will be locals who live very nearby, probably in the same building complex. After a while though, parents change schools (for a variety of reasons - legit or not) so your business might be short lived. If you do get a steady stream of students then plan for two possibilities. 1. you start to lose them and you'll need to go back to freelance work. 2. You keep expand by opening either a hogwon. Even if you don't have enough students to open a full blown school, you can also rent out rooms or cubicles for independent study (hourly, daily, monthly, etc.). These places are really popular near exam time. You can also rent out classrooms for other teachers to hold there classes in. In any case, don't plan on your home tutoring business going on indefinitely.

[FDNY]

[Died By Bear]

What ages do you tutor? I have 4 nieces and a nephew that I might be able to steer in your direction.

[alongway]

[meangradin]

^this

[FDNY]

[alongway]

[edwardcatflap]

This guy was on here previously boasting about not paying any tax on his 6m teaching income so a detail like this isn't going to stop him.

[FDNY]

[edwardcatflap]

So I'm curious, are you one of these people who thinks it's not as bad breaking the law in a foreign country, or would you do the same kind of thing in the UK?

[nicwr2002]