Korean Job Discussion Forums

[digsydinner]

Any foreign teachers succeed in starting their own Hagwon here in Korea? I think I remember reading a thread of detailed accounts from one person on the net, but I don't remember how it ended up. I think it was the guy who ran EFL-Law???

[Juregen]

There are a handful of us, I presume.

Most will put the business under the wife's name, reduces a lot of hassle.

However, this not necessarily the best solution.

I am hoping to meet some fellow foreign hagwon owners to see how they cope with some issues. I do mean those who have the experience of running one for more then one year.

It seems you don't have a specific question.

[T-J]

What is your visa status OP? It makes a world of difference as to how you would proceed.

As Juregen said, you don't really have a specific question. I will say as a general statement to those that think all you have to do is open your doors and start counting the money that pours in to think again. It is a business and comes with all the headaches and heartburn that owning and running a business brings. Typical work week is seventy hours, so if "easy money" is your goal, keep playing the Lotto.

[ed]

juregen

I have been a foreign hogwon owner for 6 years now.

pm me

[digsydinner]

i guess my specific questions would be:

- how hard was it to start one?
- how hard is it to maintain enrollment?
- do you feel you have any sort of advantage over other native korean owned hagwons (ex. foreign teachers trusting you more...hence performing better)?
- what would you say the current competition/environment is like to start one?

thanks for your insight...greatly appreciate it.

[frankly speaking]

As a teacher, I would never work for a foreign owned Hagwon. In my experience they are even more difficult than Korean owned. However, the worst in my experience were Koreans that lived abroad for a few years that claimed that they understood western culture. I have found that they are the ones that take advantage of teachers the most.

As for your specific question. I am not a Hagwon owner, but I have owned several successful business in the States and in Thailand. I think that your questions are so general and vague that if you don't do a little more research on how to put together a business plan that you will just loose your money. It almost seems that you are just blowing some smoke signals and aren't really serious about starting your own school. If this were a serious inquiry, I would expect some different types of questions.

Questions like, what are the hidden costs? What was the most difficult obstacle in starting and researching your business? What was the rate of return on your investment? How has the economic slump effected your yearly profits?

Think about marketing, location, licensing. Not to mention trying to get some kind of accreditation. Contacts for distributors and curriculum developers.

Think of at least a 5 year plan. List out what you need to do at least one year before you even think about opening the business. A lot of ground work needs to be laid.

More than 50% of first businesses fail in the first 2 years because of PPP. 80% of restaurants, I don't know about private schools, but seems that they open and close all the time.

Good luck. But please do a lot of research and get some kind of business plan or at least a lawyer to assist with the legal issues. You have an uphill battle if you really want to do this.

[Cheonmunka]

I've often considered it. I would have several years ago just after IMF blew over, English hadn't boomed at all then. (But, we were stuck on the shit E2 visa reagardless that I had two Korean born children with Korean family all backing them, and me - that was just bs as far as that went and a total piss off watching the kyopos/internationally experienced Koreans creaming it.)
Anyway, now, it has boomed. I think it could easily go bust if the economy gets worse. After going thru IMF I never think it won't happen again. Prices are high yet every corner has a small or largish English school on it. It's overdone compared to where it was before. Hence why I haven't wanted to invest in it the last few years.
But, that's just me. I could easily have missed the boat for these years. But then, I have a job that I really like and earn enough from it to do okay so not bothered anymore by what ifs.
Also, I agree with a long term plan but my long term plan is to get my own kids up to speed with English by becoming native speakers themselves, in NZ.

Good luck. Like buying residential property right now I think 50/50 could all go to crap within a few years. Depending on if Korea really becomes an amazing hub more than HK or Singapore ... or if it falters on that, the NK never resolves ... that sort of stuff. On the one side optimistic that it can prevail, on the other more historically realistic.

[Juregen]

[angigo]

I'm looking to return to Korea and would love to talk with those of you who have your own hagwons - whether you have positions now or not - but ESPECIALLY if you do!

I can't PM yet so please feel free to send me a message on facebook - same ID: www.facebook.com/angigo

[Demophobe]

[T-J]