Korean Job Discussion Forums

[koreanholiday]

Hagwon for sale in Pyeongchang dong, Seoul (Jongno-gu). I will be relocating back to the states in the summer.

Available: July 2010
Price: 10 million won
5,000,000 won for all furnishings
5,000,000 won for the business itself.

Only F visa holders qualify (Korean Americans or those with Korean spouses).

Furnishings: Fully furnished and set to go. All Furnishings are about 18 months new. Includes: Projector, large screen, 6 speaker surround sound system, DVD/Video player, extra large chalk board, 2 Airconditioners (full-sized floor unit in classroom and a wall unit in office (less than 9 mos)), desks, chairs, glass consulting table & chairs, about 9-10 shelving units, micorwave, outdoor building sign, 2 heaters, office desks and chairs, and more. It also has new flooring and walls. Just bring your own computer and you're set up to go! All Furnishings are in good condition and fairly new. All for 5 million won.

Business: I teach about 21 hours a week, 4 days a week (Mon.-Thurs.). Currently I have 21 students. Gross Income is 6,640,000 won per month. Not bad for 4 days a week of work.

Regular Program Fee: 320,000 won per student 4 hrs/wk.
A couple of specialty classes at 60,000 won per hour.
320,000 x 21 = 6,720,000 won per month. We have a reputation of being a good quality institution and most of our students are quite proficient in English and are amongst the highest level in the community. I teach novels, like Shiloh, Holes, and American-based text books as a part of the curriculum. You can keep the same busines name, phone number and students. All for 5 million won. (One month can pay this off)

Potential: I teach with a M/W, T/R schedule (4days). Most academies run on a M/F, T/R, W/S schedule. Therefore you could teach six days a week and open numerous new classes. I teach only 5 classes but with the schedule stated above one could teach a min. of 9 classes gaining more income. In the past, I have taught adults in the morning as there is some demand in the area. After getting tired of a split schedule, I closed the morning classes. There is a lot of potential income above what I earn for those who are willing to work more than four days a week. During the Winter and Summer, I have taught intensive classes and earned over 10 million won a month.

I'd be happy to go over the ins and outs and give some tips for business management, curriculum planning and marketing venues. There is no VAT tax on educational services so taxes are limited.

Building: Newer clean building with other language institutes, Baskin Robbins, Dentist office and so forth. Not a cruddy building at all and one of the best in the area. The language school has one classroom, one office and a "consulting" room.
Rent: about 800,000 won per month
Utilities: 160,000 ~ 220,000 won per month (incl. security and elevator type of fees)
Key Money: 20 million won.

Total needed: 30 million won
10 million for the business and all furnishings (2 months can pay this off)
20 million won key money which you will get back when you leave.

Current earnings: 6,720,000 - 1,000,000 (average monthly rent and util.)
equals 5,720,000 a month (21 hours a wk and 3 day weekends)

For those who are seriously interested email me at [email protected]

Thanks

Aaron

[koreanholiday]

I've had a lot of interest and thanks! However, I do need to stress that it is only available for F class Visa holders only. Kyopo (Korean-American, Korean-Canadian, or those who are married to a Korean.)

Additional Updates:

I talked to the landlord and he is willing to accept 10 million won key money instead of 20 million won with a higher monthly rent payment of around 900,000 won.

Also, we are willing to separate the business from the Furnishings if you wish to do your own program and name instead of ours. The "interior" and all of the furnishings mentioned above for 5 million won and no cost for the business itself. In that situation, you'd need to have a name change, phone number and signage change as well. We could introduce your new program to our current students.

I've got much more than 5 million invested in the interior and it is a smokin' deal for someone who wants to do this.

[Ebbiwebs]

Hi.
Do you think I could have a look?
I'm interested in something like this.
I've got an F2 visa and could raise the cash.
Thanks.
[email protected]