I just know this has been discussed somewhere but I did a quick search and couldn’t find anything. Can anyone shed some light on the process of opening a school and its cost? I’ve seen a few related posts but they didn’t really go into detail on the process itself and where the money goes, how to become legal, etc.
I’m years off from realizing this dream but I’m just bored and curious.
I have heard 1-2 million from Taiwanese people, but apparently it can be done for 500,000 if you are teaching their yourself and are willing to do most the work. I guess the easiest way is to take over rent from an existing buxiban that is closing, that way you can be sure the place is suitable for a license. I know someone who is selling their cram school for over 5 million dollars, but seems a little overvalued to me.
It depends on the profit of the buxiban, 5 million might be reasonable.
Then again, what is the average profit of a buxiban per year? I have no idea.
From what I’ve seen, this buxiban makes profit, but it hasn’t made the owner rich.
Maybe he wants to finally feel rich and get that 5 million in his bank account.
Isn’t there a website for buxiban owners to sell their school?
Would be interested to see that!
Best to find someone else do the English teaching part.