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My wife and I are thinking of starting a study room for elelmentary aged students. We realize that of those who have a study-room in their own apartment...they usually live in the traditional type of highrise apartments. Makes sense as there would be so many families so close by to advertise to. But would starting a study-room in a villa be a worthwhile endeavour?

I know one downside would be that there isn't an entire apartment complex of potential students.
I'm also wondering if parents would be at all reluctant to send their kids to a villa-type gongbubang.

As I doubt we are going to take out a huge jeonse loan, I'm trying to find alternatives

  • kyndo
  • Moderator LVL 1

    • 5533

    • March 03, 2011, 09:45:24 am
    • Gyeongsangbuk-do
Re: Is having a study room (gongbubang) in a villa a viable option?
« Reply #1 on: March 07, 2020, 08:57:09 am »
Personally, I'd reconsider on that jeonse loan: interest rates are pretty low right now, and even with paying monthly interest, you're sure to save a tidy bundle.
It'll also set you up in a potentially more profitable area: apartment complexes have a lot of young, middle class families, which means more potential students.
On top of that, apartments tend to be a bit larger, which means more room to set up a study room.

    That said, if you have the space, the visa, and the money to set up a gongbubang, then its definitely something to look into! I've heard they can make a tidy bit of money.

  • SPQR
  • Super Waygook

    • 337

    • March 08, 2018, 07:04:54 pm
    • Canada
Re: Is having a study room (gongbubang) in a villa a viable option?
« Reply #2 on: March 08, 2020, 12:59:44 pm »
I operate a study room and I'll tell you right now it is a numbers

To get new students entails many things:

-families with kids
-families with money
-kids the right age
-mothers looking to change schools or begin private education
-nearby competition
-state of your business (mothers won't like a shithole)

So, take all available kids in your neighborhood and then modify
that number with the above factors and you will get a rough
idea of your enrollment potential.

However, just ten students will bring in 2 million a month.  So, there
is that to consider.