I’m not a born and bred business man, and my wife knew little about busines too. And I’m certain that every town has it’s own quirks when it comes to bisuness. You will learn what they are. As for the ROI, I wouldnt even know. A lot, for us in particular, but for the field of cram schooling…who knows?
The big thing at the beginning is being legal or not. If you’re unknown and unproven in the community then illegal may be preferrable. If you’re an unmarried foriegner with ARC worries, the stress doubles. We were reported eventually because of me, my exterior attracted attention and, so I hear, a competitor waited outside in his car and took pics of me helping kids get into cars.
Now, in the new school, we are legal, but ask any other legal cram school owner: It is a pain in the posterior. The “business” that needs to be done with fire dept, officials, political donations can stress out the Dalai Lama. At one point when the archetiect and the liscense broker were “arguing” over miniscule points in an effort to make it look like a bribe was necessary, I flipped out and puled a wad a cash out of my pocket and told my wife, “Ask them if this is enough!”
This is a very windy way of telling you that yes, a Taiwanese partner may be desirable. Not only for the money, but for the know-how.
This is all behind the curriculum. (As I write this, I’m glad the stress was so big at the time, because as I read my own words now, I wouldnt go through with it. sheesh!) You must have a stable set of books that you teach very very well. Change when you need to change, and always explain your thinking to the parents that matter. Be different. That helps a lot. We had a library on the second floor of our first school. Each Saturday we gave a free to the public story hour, then had classes. There were 50 kids crammed into that space at times. What a riot!
As for finding partners, I wouldnt know what to say. Finding a source of money. Gosh who wouldnt love a great rich mute partner who didnt want his money back fast, or at all. Our foreign competition here were four teachers from a local school, two foreigners and two Chinese teachers. I gather they pooled their money and set up the progam themselves. That sounds like a good idea. I hear they are legal now as well.
Put it this way. If you want to do it, really want to open your own place, you will. I never doubted myself, ever, at the beginning. I have had doubts about this new school, because it is truly enormous, 200+ pings and the rent is jaw-dropping. But it’s getting better, and I wouldn’t turn back if i could. My biggest fear is being old and thinking I haven’t done anything. lol
Lastly, I thank you all for responding so coherently and generously to my first post. I wondered before I did it, why would anyone want to know what we did? We made so many mistakes. But it is nice to hear your thoughts too.
Please excuse this lengthy rambling. I hope in some way, it helps.
john