Looking for Busiban to buy or help grow. 22 years business back ground. 41 years old Sold my business in California last year, retired and moved to Taiwan learning Chinese and looking for A Bushiban to Start, Buy, or partner up with. Serious persons only. Kevin email@example.com
A few questions:
Do you know anything about teaching?
Do you know anything about doing business in Taiwan?
Are you familiar with the Taiwan market and how people do marketing here?
What is your visa status?
Are you talking about investing capital of your own?
Have you researched the legalities?
What can you bring to this relationship that enables you to succeed in a market that has too many players?
This post might be of interest.
Yeah, do check out the post Maoman referred to. I looked into it as a possible business but my business partner decided to take a pass on it. It looks like a good licensed school with a good teaching method if you want something that is already established.
If you don’t mind my asking, why did your partner decide to pass on it?
Looks like Holger’s School. It is a money spinner. It’s not easy to get 150 students. It’s worth it. I did the figures and it looks like he’s asking for the annual take. Meaning the first year you will take nothing out of the business, after that you’ll be taking out 2.6 million a year. If you can run it as he does with your wife and yourself teaching.
Honour, sorry, won’t comment on why we took a pass on it, but I wouldn’t be piping in with the suggestion if I didn’t think it would be good for the right person.
Fox, yes that is Holger’s school. Not a bad deal for 150 students and a legit license.
Chewycorns, I don’t get that tealit posting either. If net is 80k per month, that’s a pretty small take considering an experienced teacher can make that much without any investment risk. I don’t get it.
150 x 3.75 X 10,000 = 5,6250,000
Textbook sales markup: minimal.
Outgoings: rent, wages, bills.
Rent and bills, including the slaries of 4 teaching assistants and one part-time-teacher: 1,440,000
Tax: you decide
5,6250,000 - 1,440,000=4,185,000
From the 4,185,000 you have to pay tax, health insurance, operator salaries, etc.
Assuming absoulutely everything with no allowances for discounts or that he might be charging a little more for some classes, if you could run it as he does this 2.3 million would come to you and your wife if she could teach well.
You would have to continue teaching using a similar methodology to keep the 150 students. This would be important and a challenge. It is the stricter style approach like Access, Kobei and David Moore. Also they’ve been going for many years so you would have to expect to lose some students or really know what you’re doing.
It’s still a good deal though. To set up your own probably slightly physically larger school from scratch would cost you nearly that amount considering the downtown location. Plus you’re getting 150 students into the bargain.
Although from my experience it can be done more simply and just as profitably, but for that secret knowledge you have to pay.
The X factor about buying that school is will the parents pull their kids out if they know there is a change in bosses? If I were to buy that school, I would assume that at least 10% of the kids will leave, NO MATTER WHAT I DO, when the school changes hands.
At my school 10 percent leaves whenever a foreign teacher leaves and for the first six months last year the school went through teachers like toilet paper.
Yes, 10% is the magic number. This is why I mentioned it if/when a school goes through a major change.
Before buying an established school, I take a close look at when the students are coming. I am seeing more and more parents wanting afternoon classes and less night classes.
At least in Kaohsiung, I think we are beginning to see the slow death of night English classes for kids.