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Ashri Mustaffa
01 Dec 2019
Financial Consultant at Prudential
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Leong Wen Fong
29 Nov 2019
Commercial Ops at Aspire
I've spent some time in the tuition industry, and my mother teaches tuition on a regular basis.
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If you have even taught any type of tuition before, you would know the basic costs:
Materials/Printing
Stationery
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If you want a centre intself then of course rental/utilities would be the main concern.
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I also know that if you go through CC/RC, they tend to charge you a percentage of the fees that you collect as well - so take note of that!
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Pang Zhe Liang
29 Nov 2019
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
It depends on the definition of small. Here are some factors to consider:
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Hi Cassandra!!
That's a great question!! I'll add in my two-cents :)
Not in the tuition industry, but been involved in several startups. The costs depends on these factors:
(A) First 2-3 years:
(Assuming no Franchise Fees, costs are based mainly on my experience, some are rough estimates^)
Startup Costs
Ongoing Costs / Annual Expenses
Things to consider:
It's sad to see a startup fail. But it happens 8 out of 10 times. The costs can be high - tangible, and intangible.
And it can be heartbreaking to shut it down, frustrating to pay back loans if any and painful to disappoint the people and investors who support you.
That's the costs that I know of :)
Hope it helps and all the best!!