Korean Job Discussion Forums

[AbbeFaria]

A friend of mine is wanting to open his own school. He's getting around all the E2 visa problems by getting a Korean friend to do all the upfront stuff and then we just "work" for him. I say we because he wants me to come in on it. We all chip in on the seed money and the Korean guy handles anything Korean related.

I'm just wondering, has anyone done this and what's the success rate? He seems to think it's as easy finding a building, getting a copier and some desks and printing up some flyers. "Have your kids tought by way-gooks five days a week!" I'm highly skeptical about the whole thing. Especially when he starts tossing numbers around like 12,000 in seed money per person, etc.

Thoughts?

�S�

[Imbroglio]

http://www.eslcafe.com/forums/korea/viewtopic.php?t=64723&start=15


All you had to do was skim down five topics!

[Cohiba]

What exactly is "12,000"? South African Rand? Iraqi Dinars?
If, presumably, you mean USD then I think you are way under
the mark to open a hagwon. I would say most new hagwons
open with about 150,000,000 to 300,000,000 KRW. Having
some goofy whitey in the building will get you nowhere these
days. You need: expensive decor to impress mothers, TVs
in the classrooms, buses, desks etc., etc., etc.

I went into a similar situation with a "friend" a little while back
and lost 13,000,000 KRW really quickly.

Why would you want a hagwon when you can make 50,000 KRW
an hour with no hassles or overhead by teaching privates?

[judge-ing-na]

Be VERY VERY VERY careful.

Make sure you have enough cash to get through the first 3 months.

And you will need alot of cash. as was pointed out 150-300mil.

I have done what you are thinking about and I wish I hadn't.

If you want some info PM me.