Looking again at the Island TEFL business currently for sale http://www.businessesforsale.com/thai/Bangkok-Established-English-Teaching-TEFL-Business-For-Sale.aspx we feel it's important to confirm to potential buyers that Island TEFL is not an "established" business. It is not a registered company in Thailand and nor does it have any permanent premises. In fact, according to our sources, the current course is being held in a restaurant bar off Soi 8 in Sukhumwit Road. This is typical of the makeshift nature of Island TEFL courses. So please be aware of this hit and miss, ad hoc set up.
In our opinion, the Island TEFL franchise is worth nothing. In fact, rather the converse. Philip Dunne should be paying someone to run his company. What he really needs is a manager permanently resident in Thailand. The reason he can't employ a manager is because he needs to register the company first, and that would be your role as the franchisee. But in view of the importance of what you would be doing, i.e. establishing his company for real, in our view, you would deserve more than mere franchisee status. You would need to be a proper fully fledged partner, with owner's rights, rather than merely being a franchisee who can be terminated almost at whim.
This, of course, is merely our opinion (see Disclaimer), but because of the large sum of money at stake, we do advise extreme caution. Others before have lost five figure sums to Philip Dunne. Again, please also read our ground advice.
Be cautious,
Mark Gilchrist
Showing posts with label Island TEFL Bangkok. Show all posts
Showing posts with label Island TEFL Bangkok. Show all posts
Sunday, May 4, 2014
Tuesday, April 22, 2014
Island TEFL, Bangkok
Bangkok Established English Teaching TEFL Business For Sale
We have noticed that Island TEFL, Bangkok is up for sale now http://thailand.businessesforsale.com/thai/Bangkok-Established-English-Teaching-TEFL-Business-For-Sale.aspx. Previously the Phuket branch was being offered. We don't know whether that one has been sold or not, but if so, we certainly wish the new buyer every success.
Our advice here is very similar to our advice for the Phuket branch, in that, firstly, we think it is considerably overpriced at $59,500 and that therefore we recommend any buyer to proceed with due caution. First please read our ground advice and also the earlier Island TEFL, Phuket post.
One additional factor to the Phuket sale that we feel is of concern here is the use of the word "established" in the advert. Of course, much depends on your definition of that word. Island TEFL is without doubt an established name, particularly on the internet. However, their Bangkok branch does not seem to live up to that description, in our opinion, mainly because of its lack of any consistent physical presence. Over the last few years, service there has been highly erratic, with at least three different locations being used, Thonburi, Victory Monument and now Silom. Remember, Island TEFl has no permanent physical base or HQ in Thailand and is not actually a registered company as far as we know. According to our definition, that does not qualify as being "established". But it is up to you, the buyer, to do more research on the history and current situation there.
Please don't hesitate to contact us if you have any questions.
We're hoping to put up a review of another language school shortly.
Good luck,
Jill Franklyn
Disclaimer: Please note that the above comments are simply the views and opinions of "TEFL Businesses" and in no way represent incontrovertible truths. All information should be checked and verified by the reader before being acted upon. We also take no responsibility for any comments posted, other than that any comment using foul or abusive language will be deleted.
We have noticed that Island TEFL, Bangkok is up for sale now http://thailand.businessesforsale.com/thai/Bangkok-Established-English-Teaching-TEFL-Business-For-Sale.aspx. Previously the Phuket branch was being offered. We don't know whether that one has been sold or not, but if so, we certainly wish the new buyer every success.
Our advice here is very similar to our advice for the Phuket branch, in that, firstly, we think it is considerably overpriced at $59,500 and that therefore we recommend any buyer to proceed with due caution. First please read our ground advice and also the earlier Island TEFL, Phuket post.
One additional factor to the Phuket sale that we feel is of concern here is the use of the word "established" in the advert. Of course, much depends on your definition of that word. Island TEFL is without doubt an established name, particularly on the internet. However, their Bangkok branch does not seem to live up to that description, in our opinion, mainly because of its lack of any consistent physical presence. Over the last few years, service there has been highly erratic, with at least three different locations being used, Thonburi, Victory Monument and now Silom. Remember, Island TEFl has no permanent physical base or HQ in Thailand and is not actually a registered company as far as we know. According to our definition, that does not qualify as being "established". But it is up to you, the buyer, to do more research on the history and current situation there.
Please don't hesitate to contact us if you have any questions.
We're hoping to put up a review of another language school shortly.
Good luck,
Jill Franklyn
Disclaimer: Please note that the above comments are simply the views and opinions of "TEFL Businesses" and in no way represent incontrovertible truths. All information should be checked and verified by the reader before being acted upon. We also take no responsibility for any comments posted, other than that any comment using foul or abusive language will be deleted.
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