Setting up of tuition centre

[winth]

skunk:

Even for myself, with 7 years' experience and quite a name built up over the years, i've never exceeded $6K monthly.

Wa, like that it's definitely more than a pro white collar mar... Average salary for mid level engineers is between S$4 - 5K.

We tried asking this friend, asked him if it's 5K, he's still smiling away. Dunno how much but from his face, it's sure more than 5K already.

[skunk]

winth:

Wa, like that it's definitely more than a pro white collar mar... Average salary for mid level engineers is between S$4 - 5K.

most engineers become managers in mid-career....for someone to remain as an engineer for very long, must be because skills are strictly limited to engineering

many other white collar professionals can make alot....accountants, lawyers, doctors.....my lawyer friend's starting pay was almost $4K monthly.

Haiz i should have put in a little more effort, today can be lawyer liao...hehe

[winth]

Funz:

For every success, there are a few failures.

Can't agree more.

[skunk]

i disagree. for each success, there are perhaps at least dozens of failures. the chances of any biz succeeding is actually maybe only 5% or less.


why take the risk if u have other talents?

[skunk]

insider:

I don't know about the success rate of other businesses. But for all those centres that I have helped to set up and run, the success rate is 9 out of 10 so far

wah u r so fantastic ah LOL r u cai shen ye?

my bro once worked for an angel investor or something like that, those companies that assess start-ups, whether to loan them money for their business.

In their assessment of all businesses that seek loans from them, they only grant loans to maybe 10%. These 10% of start-ups they (and their panels of experts) deem to have a very very good chance of succeeding.

And guess what? Out of this 10%, only a further 10% actually make it and survive.

[skunk]

insider:

Her cut loss will be at the point when she completely depleted her capital of $300K. Running a business is challenging.

no wonder u r so confident, take so much money to throw, the chances of success sure very high wan. Chey, i thought u got some secret formula LOL

[Funz]

insider:

Her cut loss will be at the point when she completely depleted her capital of $300K. Running a business is challenging.

Yes! That is another important thing to note. Set yourself a walk away point. One of the biggest problem that most pple have when they go into a business is not being able to walk away until they are badly in debts.

[winth]

oops.

[skunk]

winth:

We are preparing for our expansion too, and we are throwing in huge sums too. If don't prepare such a sum, actually it's almost like a sure-lose.

chey....im only interested in the kind of biz where no need alot of capital, but can earn alot, don't need to input time or effort wan. what's the fun in throwing in money just to make money? i wanna make money out of nothing lol

[winth]

insider:

Hi Winth,


Can share what kind of food business are you in? I am always wondering about how those stall owners in foodcourt such as in Suntec still can make five figures per month of profit despite having to pay for similar amount of rent...

My food business is my first ever-already failed business.
We rented a half a shop in west to target mainly working & breakfast crowds, so the items sold are packed food like mee siam, porridge and sandwiches etc.

My current venture is non-F&B related.

Seriously, I also wonder how those stall owners in expensive foodcourts keep up.