How to Start a Business in Vietnam | Greg Vanderford | Skillshare

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How to Start a Business in Vietnam

teacher avatar Greg Vanderford, Knowledge is Power!

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Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

16 Lessons (2h 50m)
    • 1. Vietnam Business Startup Promo

    • 2. Lesson 1 Vietnam Business Intro

    • 3. Lesson 2 Expat Business Models

    • 4. Lesson 3 Paperwork and Legal Issues

    • 5. Lesson 4 Local Salaries and Staffing

    • 6. Lesson 5 Marketing and Networking

    • 7. Lesson 6 Startup Costs and Strategies

    • 8. Lesson 7 Where to Open Your Business

    • 9. Lesson 8 Opening a Restaurant or Bar

    • 10. Lesson 9 Language Centers and Tutoring

    • 11. Lesson 10 The Tourism Business

    • 12. Lesson 11 Opening a Shop or Store

    • 13. Lesson 12 Import Export

    • 14. Lesson 13 Freelancing

    • 15. Lesson 14 Other Models

    • 16. Lesson 15 Conclusion

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About This Class

The Vietnamese economy is BOOMING, making now THE BEST TIME IN HISTORY to start a small business as an expat in Vietnam.

I launched Saigon Sports Academy in 2009 and have since been part of over a dozen startups that have all been successful.

The window of opportunity is closing as no rapidly developing country can continue to grow at 7% GDP per year forever, but Vietnam is still one of the the best, if not THE BEST COUNTRY IN THE WORLD to start a business in right now as I'll explain in this course.

You will learn:

1. How to file paperwork to start your company

2. How to deal with taxes

3. Other legal issues

4. Capital needs (how much money to start depending on the business)

5. Everything you need to know about the labor market

6. Marketing strategy

7. Where to launch your business

8. Best business models for expats

9. Analysis of each business model and how to do it here

10. Lots of examples of successful businesses started by expats

Join the course and take the first step toward living financially free as an expat in the beautiful tropical paradise of Vietnam!

Meet Your Teacher

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Greg Vanderford

Knowledge is Power!


My courses are designed based on my many years as a teacher and student of education and business. I hold a master's degree in curriculum and instruction and have been designing curricula for over a decade.

The business, language, and chess courses that I have built are a reflection of this experience and dedication to education. My goal is to reach as many people as possible with my courses, which is why I have chosen the internet as my ideal mode of delivery.

The following is a little more about my expertise and background. I was born and raised in Sandpoint, Idaho. I attended the University of Idaho where I earned a bachelor's degree in Business Administration in 2004. After a few years in the work force as an account manager I moved to Vietnam where I lived for over 5 ... See full profile

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1. Vietnam Business Startup Promo: I'm a big banner for I started a company in Vietnam about 11 years ago called Saigon Sports Accounted. I built it up to about 500 students with my partners and about 50 employees before I sold off my shares. I've since been involved in a number of start up projects in Vietnam and this course all about how any expat that wants to come look over here and build up a small or large business can easily do so. But you need to know the into the out of the marketplace, how to get started legally, how much capital you need and things like that. Vietnam is. We're the fastest growing economies in the world's got tons of foreign investment coming in to the markets. It's got over 100 major cities as harder. That is to believe it has 90 million people in the country, and the spirit here is extremely entrepreneurial, and the country is developing rapidly specifically, if you open a business gear doors, expats, there's lots of stuff that we expats miss from back hole, which makes there a lot of opportunities or small businesses here. So this course I'm gonna teach you guys how to start a business in Vietnam, all of the ins and outs from every different angle. And we're gonna look specifically at some of the best niches or business models that you may want to use in order to become independent and being entrepreneur. It takes very little start up capital to start a company here. Labour is extremely inexpensive, that climate is wonderful, it's tropical and people here really friendly and open to Westerners. So it's a really unique opportunity. The window of opportunity will probably only be open for another five or 10 years before things might start to get saturated. So now is definitely the time to come and do what I came and did over 10 years ago and then have been doing for the last 11 years or so. If you have a hunch, mineral spirit or just have a sense of adventure and you want to come and be independent, maybe get away from your job. Or maybe you're you been unemployed, come to Vietnam and start a small business, and this course I'm gonna show you how 2. Lesson 1 Vietnam Business Intro: a little over the course. How to start a business in Vietnam, learn how to easily launch a business and one of the fastest growing economies in the world . As I said in my promo video, My name's Great banner, Ford and I have launched several businesses in Vietnam. It's an amazing time to be an entrepreneur over here. This is where I live. And business people, especially expats, are thriving because there are so many niches over here that have yet to be exploited. The economy is booming and has been for the last several years. More and more foreign direct investments coming into the country GP is growing at 67% every single year, and it's just an amazing time to be over here, especially win. Or, I would say, if you're struggling back home in the country, in the West to make ends me or find a job or whatever over here it's so easy to start a business because the capital needs are low, the competition is low, considering how many opportunities there are and how much everything is expanding. Everything is inexpensive. Labor is very, very inexpensive, especially Decatur to other expats, with all kind of little niches that have a lot of opportunity and whether you just want to have a lifestyle venture where you make a little bit of money and have a great life over here in this troubled country. Or if you want to grow into a large business where you can become very wealthy, there's really all different kinds of opportunities, and the business that I launch my partners is called Second Sports Academy back in 2009 recognized that there were basically no after school activities for the expats over here going to these very prestigious private schools, and we launched sports training services for the weekends and for after school. And within just a few months we had hundreds of students coming to us, and our business at the time is unique. But it's not a typical of what you can do when you come over here and you find a niche that's yet to be exploited because, especially in the expat community, which is growing and thriving over here, it's going really fast. There are all kinds of needs that have yet to be met, so this course I'm going to show you guys a lot of examples of what niches are still yet to be filled. How to start a company in Vietnam, Honey, the paperwork. How much money you might cost? Theo, you know, just all the ins and outs. Everything you need to know in order. Teoh do it. So opportunities abound in this rapidly growing economy, there's probably living a window time to get advantage of the situation. Basically, I estimate you've got maybe 10 15 years before the boom times sort of ends, and it starts to slow down and become, ah, wealthier economy. I mean, it'll probably take a good 20 and 30 years before me and I was considered a rich economy. It has a lot of development to do, but the boom is happening right now. It can't last forever. It's similar to China. China is probably going to slow down. They continue to say it is still growing at 6.5% GDP. But the cost of starting to go up there opportunities starting to decrease. China's becoming a wealthy country. Vietnam is way behind China, so you probably have a window, I would say estimate 10 to 15 years of boom time, which is more than that time to build a business, although this really sort of perfect window here is probably more like five or six years. So you really need to come over here and get started if you don't want to miss the boat. And these kind of opportunities are very rare when you have a whole economy that's booming and so opportunistic in terms of having so many, Um, let's put it this way. The conditions for entrepreneurship right now are just amazing for very seven reasons that I'm going to explain. Throughout the course, regulation is very light or lightly and floor. Some explain what I mean by that intramural expats to partner with are ubiquitous, and this is one of the great things about being over here. You can find lots of people that are also looking to open businesses, or at least open toe opening businesses. One that you want expats is that we're very adventurous. That's why we're over here living in Southeast Asia. To begin with, you need a lot of like minded people and a lot of people that are open to doing lots of different things together. When we started Saigon, sports Academy. There were three of us. Ah, one, um, British guy and two of us War American. One of us is a calm de que He's a happy in these half American and we have yet you together . We launch it together and it was very, very successful. I ended up selling out my shares after about 3.5 years. One of my other partners stay there for another four years after that, and the other partner is still running the group. It's not Excel Lee. He's expanded into a very successful big business, and we all split off in different times for various different reasons. But the original business was very successful for the same reason. Reasons that any other business can be successful right now in Vietnam, especially in hot human city, which I'm going to talk about more later as well. Labor costs, they said, are extraordinarily low, and this is not going to last for ever. Labor costs are going to stay low for a while, and that has to do with the fact that labour supplies abundant is a huge number of young people especially competing for jobs right now in this country the labor market is amazing . If you're a business owner or entrepreneur, it's not so amazing for you, I guess if you're in the labor pool. But the middle class here is expanding and salaries are rising. So now again, it's kind of a sweet spot in this area as well. And high quality labor is becoming increasingly abundance of not only our labor costs low in general, but you can find really well qualified and experienced managers and people to run. Your business is for you for pennies on the dollar compared to what an expat would cost. So it's something you just simply can't do back home. And lots of countries, I'm from America. A lot of business partners have been from England or Canada or Australia, and all of them will say there's nothing like Vietnam, especially other countries of Southeast Asia also have opportunities with Vietnam is experiencing a special sort of sweet spot right now in terms of the opportunities that are here, the growth of the economy and the low cost of labor and other things. So there's a business model to fit any expat, and I'm gonna go through all different kinds of business models in this course and explain how you guys can use them. And pretty much anybody can find a way to make a really good living over here, no matter what your background is and what your skill set it. So that's the course is all about. And the next lesson we're gonna jump right into it by talking about some of the key business models that are geared particularly well for us. 3. Lesson 2 Expat Business Models: So they said, there are a lot of different niches for expats and ways that you can be successful. I'm going to get some examples, and I'm going to go through them in more detail later in the course. So obviously, restaurants and bars are one of the easiest for us to start up. One of the reason that easiest is because the regulation for them is basically non existent . I mean, you could literally just open a bar and felt like one piece of paper, and you're good to go. They don't regulate them heavily at all, and they are very inexpensive to launch. Heard about home, where you might need $100,000 to start a small restaurant or bar. You can get a restaurant or bar running here for as little as 10 grand, even less if you're really creative and you start something really small, but you condone get launched very little capital, and you've got a couple partners and you guys can just raise you 20 or 30 grand. You get a nice little operation going, and your risk of failure is extremely low, especially have to take the rest of this course and you learn a lot of things you need to know to operate in the Vietnamese markets. The reference of bars are really good option. Just a little shop or little niche business that sells something specific like example of clothes for expats are a good option because a lot of times over here in Vietnam, this sizes don't fit US expanse maternity larger than meeting these people. So a lot of us believe hard to find the right size, clothing and shoes so you can open up a little niche business in an expat neighborhood and probably do pretty well for yourself and make a good living for yourself a small little shop. And there's lots of different shops. You can hope you can open up a shop that imports certain food products that we miss from back home. Anything that expats miss from our home countries, you know? I mean, you could even go with niche as to open up a veggie might shop for Australians is no bed. You might over here, you know, something really, really specific, like that could be successful business over here, because there's just no competition whatsoever. So little shops, little niche businesses are one way to serve expats and have a nice little business for yourself. One of the big industries over here is education, especially language and tutoring. Asians in general are really big on education. They are investing tons of money into learning English, but not just English. They have a lot of money set aside for tutoring. They want their kids at the best education possible, so they will spend on math and science tutoring. They will spend on their kids getting a full, well rounded education on test prep on getting them to college. Even though the middle class here, I think it's growing rapidly. They spend money on education. They are very serious about it. So the industry for teaching English especially, is huge, and most people that come over here most expats are English teachers. A lot of the other expensive art English teachers are either professionals that are over here running a big company who sent as managers of big companies that are standing over here like a Adidas or Nike or Coca Cola companies like that and then the rest are basically US entrepreneurs that come over here. I wanna have a nice lifestyle in a tropical country and then launch of business for pennies on the dollar compared to what it would take back home. And the upside is virtually limitless. And for all the reasons I'm gonna talk about throughout the course all the different ways that you can be successful, this tech savvy people in Vietnam there's little thriving tech industry again. The talent there is savvy and inexpensive. You can launch acts to get lunch websites. There's all kinds of things that you can do you can do import and export. I'm gonna talk about all the ways that you can either import stuff in this country, make money or source things here very, very cheaply and then export it back to our home countries. This is one of the ways that you can make the most money. If you want to scale by putting some capital together and organizing something that some raw materials like textiles or coffee food products like that repackaging. I'm sending him back to the West, save the UK or America, for example, and market and way up and making a lot of money with high margins. If you have someone back home that can sell them for you or you have contact with large corporation that could sell them for you. This is one of the ways we can get really rich by being on the ground over here in Vietnam and exporting to a home country if you want to do sort of a larger operation. Tourism is one of the biggest industries here and is growing by the day as companies pour money into the country to develop, um, resorts and hotels and casinos. I mean, this industry is absolutely booming right now, and a lot of attention is being given to Vietnam. So after you've been here for a while, unease e thing to do is start up a little tourism company where you get to it yourself. Or you can just hire me in these people to give the tours. But your, uh, their it expertise or your competitive advantage would be the fact that it's easy for you to meet and talk to expats and reach the Western expat market, which is really hard for the beating needs to do simply because a lot of them don't have the language ability or the English skills very difficult for meetings people to learn English, despite the fact that they're investing extraordinary sums of money into learning English. And there are tens of thousands of English judges over here. It's a very difficult language for them to learn, just like it's difficult for us to learn. Vietnamese and I have Vietnamese courses online as well, to teach foreigners how to speak Vietnamese because the language is so different. That is a big language barrier. So if someone that's learned me to needs to fluency like me, I can explain things to you way easier than being. These person can't unless there English is totally fluid. That's sort of an aside. That's one of the reasons why we haven't advantages expat business people over here in reaching the expat market. It's harder for the meeting these people to exploit for the language, barrier reason and because they just don't know that they aren't tastes or preferences and the things that we miss from back home. They don't understand our market basically on nearly as well as we do, so that's one of the things that give us a big advantage marketing to other expats over here. Another really good business bottle are sports and camps. This is obviously how I got started. I got sports academy. We started doing soccer training, tennis, swimming. We haven't basketball, chess and all kinds of activities. But you can also just do camps during the summers. And during all of these school holidays during all of the international school breaks, you can do camp for eating it, dozens of kids or even hundreds of kids. We have done some of our biggest camps, and you can make a lot of money in just one week in the camp fishing. It's so many kids together, and they all want something to do during the breaks and are willing to pay a couple 100 bucks for that week of training or week of games to being and how you organize it. It's a big business over here, and they're still not all that much competition when it comes to the camps. And I'm gonna give you guys a lot of tips and ins and outs in terms of what niches still can be exploited where most of the competition is in the different businesses. I've been living here on the ground for over 10 years, and Huntsman City so I know a lot about the industry here and give you guys a lot of pointers. In addition to what I say in these videos, feel free to ask me specific questions in the discussion board, and I can answer specific questions for you about that as well. So there is a lot of opportunity. There are a lot of different business models that you go into, depending on your background, and so there's a lot of choice, which is really great. If you're good at business, you're good at sales. You want to be a consultant or do coaching. There's a big opportunity for that type of stuff. I know quite a computer making a living as consultants over here. And the thing is, is that the expat market just hold him in. City alone is around 300,000 people, depending on how you count expats because his western expats, their native English speakers, and then there's a large number of other Asian expats that also speak English. But they're not native English speakers, but there's one of 200,000 expats. But then the Viennese market is in, you know, in the many millions of nine million people in Ho Chin Minh City, not counting tourists, and another nine million people in Hanoi, the capital city up north, not counting tourists. And there are several other cities which I'm going to talk about in the course as well, that have more than a 1,000,000 people that are so large cities and have much less competition. So in some areas where there's more competition here in electricity and annoy already, you can simply go to a smaller town and just dominate that smaller Markit s. So there's a lot of ways you can. You can do this if it seems like you're late to the game in your particular niche. For example, there are a lot of restaurants now in the main expat area. Well, I was should say, one of the main expat areas in which men city called touting In District two. There are tons and tons of restaurants and bars now, whereas five years ago that would have been a really, really good time to open a restaurant. Now it's starting to a little bit saturated. They continue to open, and so it's great for us expats that live here. But If I was going to start a restaurant or a bar, I wouldn't do it in District two anymore. It's just too much competition. But you could do it a lot of other places. Other places encroachment city or in another city like the Neighing, for example, which is 1/3 largest city in Vietnam. And it's up in the center of the country. On the coast. It's thriving as well, and it has a lot less competitions. That might be a place that I would think for doing a restaurant or a bar. That's just one example. I'm going to get more into dinning later in the course as well. All different types of freelancing like graphic design, um, copyrighting and things like that. It's a really great time to do that. You can do recruiting for Vietnamese companies that are trying to recruit florist work for them, it's not that easy again for them to recruit. Foreigners do the language barrier and things like that. So if you could be a go between a liaison and a recruiter for those companies of which you know there are hundreds of thousands of companies in Vietnam and they all want foreigners, and there's a limited number of US Westerners living here on a full time basis. So actually, competition for us in the job market is fierce. Wages are relatively high. If you don't want to be an entrepreneur, you wanna go over here and get a job. There are a lot of opportunities for that as well. Most people started out, as I said, Teaching English. You could also be a project manager marketing. You can work for beauty, these companies that want for employees, But you probably won't end up making as much money or happen much freedom as you can coming over here and starting up your own shop for your own business. There's just so much opportunity there, but I would much prefer being an entrepreneur. However, that's not to your taste. Then you can also just come over here and easily find a well paying job. Considering how low the cost of living is here, you don't need to make that much money. Teoh have a nice style of living. If you are single, you know 1000 bucks gives you a good standard of living. If you have a family two or $3000 a month gives you a really, really good standard of living. You just do a Google search, look at a cost of living in Vietnam for expats. Even I'm going to go over the numbers more later as well. You get a lot of different examples from people living in different towns and stuff and see that it's very, very inexpensive right now. Which is, of course, why? Which one of the best times to open a business. So with that, we're gonna turn Teoh one of the most important things that you need to understand if you're gonna come and work here is a communist country to single party rule government. And so there's a lot of incidents to know when it comes the paperwork and legal issues. But from on the ground here, I could tell you guys exactly what you need to know. To navigate this issue. We're gonna turn to that 4. Lesson 3 Paperwork and Legal Issues: One of the great things about starting a company in Vietnam is that even though there are actually a lot of regulations and laws, the enforcement is so lax that you can get started right away. And I'm not saying this from a rumor. I started my own company and 2009 and ran it for over three years. I've been part of lots of little startups since them and work as a consultant right now, in addition to teaching on line and teaching in schools that can tell you, I know dozens of businesses that haven't started before. They even got started on paperwork and actually registering with the government. Basically, the standard practices you start your company, you get rolling, you get the capital together, you start selling. You do everything in during the process. You can hire a lawyer if you want Teoh or do it just with a broker and use have been registered or company. And get that stuff going in the meantime, for our first couple of years. As crazy as it sounds, that state is out loud. We didn't have any official registration with the government. Eventually it grow. You know, the authorities will become aware of you in the locality where you are operating and they will visit you. And what happens is you just have one of your staff. Usually it's the accountant will know how to talk to govern about. This typical line is that we have the paperwork in the process. We're working on it. We're getting it done right now. In the meantime, you, um, grease the wheels as it were, and you pay the official of a little bit of, Ah, a little bit of money and that solved the problem until you get the paperwork done. This is the standard practice here. Now I'm not a lawyer's. I'm not advising anyone to do anything legally, but I was talking about the actual reality in my experience on the ground. This is how it's done. However, if that makes you uncomfortable, the great news is very inexpensive to simply hire a local attorney and say, I want to register my company in this industry. And can you please do the paperwork for me? Where that might cost several $1000 back in the West is gonna cost you just a few 100 here , or even as little as one or $200 to register your business, depending on what industry you're going into, for example, to start a school and go into the education industry. If you register your business as a school specifically, then the regulations are quite rigorous. They take that quite seriously because you're involved in, you know, teaching things too young Minds here is a communist country. They want it in some ways, not necessarily censor what you teach, but they have a lot of regulations when it comes to opening a school, swapping times the license to start a school and take over a year. And this is why this particular industry usually have really large corporations operating these really large private schools in terms of international schools. But this started the English Academy or tutoring center. It's much easier. You don't necessarily have to register yourself as a school quote unquote. You convey, just threw yourself as an entertainment entity, like our sports training company or registered as entertainment. We provide sports training, but we registered an entertainment company and that allowed us to you to start operating right away, even though I mentioned that we didn't register immediately It was very, very easy to do because weren't registering ourselves as a school, even though you might think of a sports training company as you as an educational entity. How you register your business is really important and you just get legal advice on the ground here. The lawyer will tell you, Oh, there's a lot of paperwork to do for this industry when it comes to restaurants and bars. And I already briefly mentioned the regulations are basically milk coffee shops, anything like that? No. When it comes opening just a shop and selling spears or any type of regular product textiles, it's super simple. You can just basically felt a piece of paper. The lawyer registers it and 1000 the government and you just start operating. But ever said most people start operating before, and they don't usually run into much trouble because, unfortunately or fortunately, I guess for us, however, you wanna look at it, Um, the way that we look at it from a Westerner point of view is that it's a very corrupt system where basically, you can buy your way in anything you can pay for anything. They don't even think about it. here as like bribes. Indeed, musical team home, which is sort of like a commission. They think of kickbacks. And what we consider to be bribes as just sort of, ah, commission is a normal way of doing business, even though technically it's not legal, it's so widespread, it's it's a cultural norm. And so that's why even though they have a lot of rules and regulations, one of the reasons not not only the fact that it's just corrupt in general allows us to easily do business here. But since the government is still relatively poor, they simply don't have the manpower to enforce all their rules and regulations. They rigorously enforce certain laws like is absolutely no threat of terrorism here. It's very safe country for expats, of foreigners, a lot of security guards, a lot of security everywhere. But when it comes to enforcing laws that they perceived to be not all that important, it is one of the manpower Teoh put into So they focus their resources in other areas, which is great for us, who want over here and have a nice life and open a business. I think they also look at it as being good for the economy with foreigners come over here and invested money in the country. They want to encourage that because we hire them. You know, it leads economic growth and new jobs and stuff like that, and so they definitely want to support. That is another reason why I think it's kind of let it go. Let us do our thing, so to speak. I mean, if you're gonna open up a really big business and you don't do the proper paperwork, they gonna run into some trouble because you're gonna drop so much attention to yourself. But, I mean, if you only have a few employees, um, or you grow point where you have 30 or 40 employees before you get to that point, you don't have to worry too much about it is what it comes down to. The time I left Second Sports Academy in 2012 we had about 50 employees, so we had a girl rather rapidly probably hired two people or people that we needed. But it's an easy thing to do when labour is so inexpensive, you can hire a full time person work for you that has basic skills to help answer phones and work in the office for like $300 a month. So it's really, really inexpensive to hire me. But you can hire bartender people working the bar for, you know, 2 to $400 a month, depending on their age, in the skill of their entry level employees and their 18 19 years old. You can pay them a couple 100 bucks a month, and, well, that sounds extraordinarily low. That's the labor market. You know what if you give them nice tip to give them some other benefits bonuses, maybe discounts and free food and drinks, then you know they're actually pretty happy with that. Most of them live with their parents until they get married. That's sort of a cultural norm here. So a lot of the money that they make is just discretionary spending, and they're not using it for rent or their basic bills. That's another factor that drives wages lower here than willing to work for less because of their culture and how they organize their families and stuff. So that is beneficial for us as well. So any legal issues that come up can usually result in one of two ways. One of the ones they already mentioned is that hiring lawyers is very, very expensive. See, simply hire lawyers to please cake. Take care of this issue for me, most lawyers. They're very well educated, relatively speaking. And that means that English is usually pretty good and seeing communicate with them quite well in most cases, especially if you're here. In a big city like Judgment City, the everyone speaks English basically so that you can get around pretty easily in that regard. Hiring counts is also very inexpensive, and it's usually a good idea. If you open a business, especially, you want to grow into a thriving, larger entity to simply hire full time P. A commander details a personal assistant, because then they could translate things for you to do all the communications for you. You could have the manager e mails and phones and even do a lot of the hiring for you. If you can find a really good personal assistant, you know trust will be a big factor because they're having a lot of power over operations of your business, but it can make it so you can basically delegate like almost everything in a visit. Separate higher level things. Strategy. You know, allocation of capital, what you spend money on, etcetera, etcetera. Otherwise, you can pretty much delegate the running of your business, which is what most people end up doing. And so the actual management of your business. Whether you open a store or restaurant or import export business, it tends to be part time after you get the whole thing up and running because you can easily hire a manager. I paid $1000 a month or less that can do a really competent job for you, and you just sort of manage the management. And so it's kind of the dream. Most entrepreneurs right back home if you want to start a business eventually to be ahead of run by itself and live off of the profits, the business not even have to be involved in day to day operations. And because the cost of labor here so low, it's much easier to accomplish. That is yet another reason why being entrepreneur over here so awesome. However, there is a little bit of a catch. You must have a local citizen with some ownership in your companies. This is a little bit of a trick for a lot of people, a little bit tricky. It's hard to trust sometimes someone you don't know. For example, you don't know anybody well enough. How can you give them, You know, two or 3% of your business on paper. People worry about that, but is a pretty standard practice over here. There are a lot of brokerage firms that offer this as a service sense. It's a law that you have to have the Vietnamese person on the paperwork. It just kind of all those corks of the country. So what you do is usually use. Find one of those brokerage firms. You pay them a small fee, and they will have someone to put their name on the documents. You will still have majority ownership and control, but technically, Vietnamese local will own a small slice of your company. And there's some minimum requirement. Like if you open up a joint stock company and you have 100 shares, you're gonna have to give your local partner two or three shares of it used to be 5%. It would be five shares. Think it lowered it down two or three. So you're gonna have to deal with that. So the best way to deal with this, of course, is not gonna work for everybody. I'm married to a Viennese local. If you get married to a local than it resolved 99% of your legal issues. Because if you're married to a local, you can buy real estate with no limitations on your business model. No limitations. And you don't have to worry about any of these little of, uh, sort of hang ups in the law. Foreigners, we can't own land. Technically, we can lease it for 100 years. We can buy apartments here, but there are like, rules and restrictions to Ford. And the reason is they're worried that if they had no rules or restrictions on ownership or on companies, because you're still relatively poor, that foreign capital Four as we were, just, you know, coming we just buyable country Dr Prices to the roof, make it so that people could no longer afford to live here and imports that wouldn't be good for vocals. Eso They have these restrictions on foreign ownership. They haven't loosening them because they do want to encourage the economy continued to boom , but right now they're still a few of these little issues. So I would say this is sort of the one drawback doing business in Vietnam is once you do officially register your company with the government, you do have a have a Vietnamese person listed on the paperwork. Now, if it works out well for you, as it does from 99% of people that go with a broker or simply make friends of some of that , they can trust you. Pay them a little feta happened, take a fee. They put the name on the ownership documents, and that's the end of it. Every once in a while, did you hear stories of someone took advantage of being on there and then try to figure out a way to, um, finagle some money down the road or get money out of a sale of the company when they have no rights to it? Since the name is in the paper, Sometimes that kind of thing happened, so I would say that is the one drawback of being an entrepreneur in Vietnam is pretty much the only one. Is this legal refinement have a local on the paperwork. But for the first couple of years, they said, you really don't have to worry about that is we're is that is he here and in something that might make you skeptical. As someone who's been here on the ground and run companies and work with lots of people and know lots of the people that run in cos it's simply not a big issue, it's easily overcome and again having an accountant and knows how to talk unquote do. The tax collector, when they come, is important. The way taxes work here are that they have actually relatively high tax rates 30 35% depending on the particular situation size of the company industry or if you're a worker or a business. But what ends up happening is again due to the nature of operating here. You can usually end up paying a very, very small tax amount. Do do what I already mentioned the way that things work here, and so the accountant will know how to talk to the tax, but that they actually come to your place of business to collect taxes here. Still, unless you're like a large organization that is gonna be working with the government. You're a small entity, Like something we would think it was a mom and pop shop back home. They actually come. The local officials that live in the area or that operate in the area where you have your business, they will come around and actually collect the tax every year kind of old school stop. So you can just have your accountant go out and talk to tax collector official when they come and they work out like a deal. And so instead of paying like 30% or 20% or whatever, you're gonna pain and really small feet. Whatever. You know, your accountant can negotiate with local official, and it's just something I've never even had to think about that much never had to worry about you just hire an accountant that knows of business. And then you pay the accountant well, and when it comes time to deal with that, just have them deal with it, and you pretty much delegate everything. And that's the beauty of the system. So you can handle a lot of the legal issues that way, and next we're gonna look at local salaries and staffing. How much have to pay people and why this is such a great benefit, as I already mentioned briefly before. 5. Lesson 4 Local Salaries and Staffing: begin supplying demand in the labour market here has created what I would consider a perfect storm. For entrepreneurs, there is very high supply of young and increasingly skilled labor as economy develops and education it's better and basically the upward pressure on the level of education in the country. It's led to fierce competition and low salaries. Despite this huge economic boom, salaries are staying low because it's a huge supply of labour on his millions and millions of young people that are all looking for work that are all putting English that are all working really hard to compete for is limited number of jobs, even though number of jobs is always increasing as entrepreneurship is booming. There's just so much labor that the cost stay really low. And of course, this is a great for us. More than 65% of thing is a statistic of Udinese. Population is under the age of 35 so it's a really young labour force and this is going to be a trend, you know, for the next couple of decades this is gonna be the same situation. So again, that's another factor that makes now a really good time to go into business here. So just through some examples, you can hire experienced town for a relatively little full time experienced business manager. My cost you only 1000 to $1500 a month, and I'm talking about like someone that would be really good, that job being able to mostly run the company for you. You can spend about this much and get somebody that's like without any other benefits. Like here. It's still not normal. Like provide a whole bunch of health care and travel and other types of benefits that we would get that call me on pensions and think that that's basically just still just cash. And within that cash amount, you can just basically say, OK, 100 of it is a stipend for healthcare. $50 is typing for travel, whatever. But basically everything here is still done by cash, and benefits are relatively new. If you work for a large corporation and you get hired over here, you get recruited like I have done in the past to be a teacher, which is how I started out over here. Then you, as a foreigner oftentimes get benefits. You get health care, and you get money for for pensions and things like that. Also, higher level management at large corporations that do have that because they're developing their becoming more and more like our countries in the West. But in general, still, from the majority of jobs, the majority, the local population, they don't get a lot of benefits. And so you can pay every on this amount. So a regular worker, maybe three or $400 a really highly skilled worker, $81,500 and you're gonna get like a CEO or someone that's got an M B A or is highly talented. Only then are you looking at, like two or $3000 a month for their salary, whereas for an expat coming over here and being a teacher, it's typical. For estimate. Do 3 $4000 a month, and if you start a business off of 10 or 20 grand on it, it's a good business. You have a successful restaurant to use this example or shop. You can easily make, let's say, five or $10,000 profit. Once you get up and running for a few months, which is a lot of money. Over here, the cost of living is so low, and this is attracting more more experts to come over here and do this. So our ranks are growing, but the economy is booming, and I'm gonna get more into the niches that have most opportunities left and some of the ones that now have a more competition, for example, that the business that I started there's a lot of competition in that space now supports business after school activities, type of business there now several music, schools and stuff in this one area county district two. Holding city. But if you want to do that business, the solution, then, is just go Teoh a different town, a different city because the expat markets here in Kuching City now are starting to get a little bit saturated in a couple of these different areas, especially areas that cater to the international schools. But other than that, there's still a lot of opportunity even here in human city. Another great thing about staffing is that the staff could be easily replaced because there's such a large amount of it, such a supply of it that for whatever reason, people quit or you need to lay somebody off. You can easily find somebody new and you know, turnover is normally a really high cost for any business, and that cost is lower in here due to the ease with which it is to find someone to replace the previous person, but also because the labor laws here are greatly on the side of management. I think due to the fact that is very ironic, this is a so called communist country. It's really not actually comments. It's really just a single part of government that controls everything and the wealthy control everything. And so the laws that have to do with real estate and business. They all favor the owner of the favor, the capitalist, which is a big bit surprising for most Westerners. And they come here. They start to learn about the way things are. They think of Vietnam and China as being communist, when really they're just single party Dictatorships that run the government. But the economies are actually mawr laws, a fair and capitalistic. Then our countries are in the West. We have Socialists programs in America and of course in European, a lot of socialism. But over here in the so called communist countries. They actually don't have, you know, Social Security and, you know, food stamps and worker's comp, and you know anything like that at all. And so it's really capitalistic. And if you have money over here, you've been pretty much by anything, including your freedom. Some cases when you break the law, so it's very, very laws a fair. And the laws are on the side of the owner for better, for worse. That's the way it is. So as an entrepreneur over here, it definitely benefits us. If you want Teoh to hire high level, uh, people like managers and more skilled talent, then you can use a website called Vietnam words dot com and you pay them a fee. And they've over crude talent for you in their head 100 company and our company. We use them for hiring of our accountants and some people back when we started, Second sports get, and we started to get bigger and to grow, and that has made things a little bit easier. Sepsis. A little tip for you. It's a place that you can recruit. Nepotism is really normal here, so if you wanna have a thriving company, you may need Teoh emphasize, uh, the idea of a meritocracy that people will get paid more and that people will move up in your organization based on merit and based on results rather than based on. You know, it's really deeply ingrained here for people to help out their relatives and friends. Try to get them jobs, try to get the work. It's all based on networking. Of course, you nepotism is also a factor in the West. We tend to think of our countries intend to run things in a much more, uh, meritocratic way, and over here it's like the opposite. So if you're new to the country, continue to running a business over here. It's a good thing to know that you want to manage your employees. Well, you may need to sort emphasize this idea that you want to be a meritocracy, and you know what? I was going to hire people just because you know them or whatever. Corporate culture here really revolves around incentives. Even more so so in Western countries. So it's a little bit of paradoxical that I just said that a meritocracy is not a normal here, However, they do respond really well to things like commissions, any incentives that will motivate them to make more money. They were really hard for, and they also are very afraid of punishments. It's a very totalitarian sort of culture, and so employees really, really respond. Teoh carrots and sticks. So it's really, really basic. What I'm saying is a lot easier to sort of control your staff that it might be for us in the West, even though that sounds kind of bad, it's just good to know that that's sort of the way the culture is here. So, um, as a manager, it's good to think about that when you are running your business. Next, we're gonna turn Teoh how to effectively market and network locally as an ex 6. Lesson 5 Marketing and Networking: The great thing about starting a business in Vietnam is that marketing and networking locally are very easy and getting very inexpensive, especially once again as an expat. We have these small communities where, even though there's 6200 active Western expats, according to the statistics in Hun German City and about the same in Annoy, it really feels like a small town, even though the numbers are kind of large. So it's really easy to network and get the word out amongst ex pats. And this helps us when you have a business, because you can reach everyone very easily and very cheaply. Everyone hears about some new business that caters to you. Everybody talks about it because it's relatively few of them. However, if you're going Teoh go into the Vietnamese market, which is obviously much, much bigger than you can hire local talent that are very tech savvy, Um, and very skilled at number king. For very little money that could do social networking websites. They don't APS. They know how to reach large numbers of people in a targeted way, and again, you don't to pay them very much at all. I mean, you were in the U. S. You might have to pay a really good I t personal, really good social marketing person. Social network marketing person will say, you know, four or $5000 a month, whereas here you didn't pay somebody on this young and really get that four or $500 a month , literally 1/10 of the cost of what you get back home. But the results that you get are even better. Just get another thing that gives us an advantage in terms of, let's say, the probability of B successfully opened a business so you can open a business for a smaller amount of money. Higher pumping success, success over costs with higher margins and less paperwork. I mean, you have an advantage in pretty much every area you can think of in. The only disadvantage, basically, is if your temperament doesn't fit living abroad. I mean, you don't feel comfortable living in a developing country, even one developing rapidly, as did nominal, kind of comfortable in Asia and things like that. I mean, there's things you may not like living here. Other than that, though. Maybe you're entrepreneur or you just so I could be like in your whole country. There's no reason why you can't come over here and be successful. Actually, a lot of people who want to be business owners but don't have the capital or the market to do it where they live could easily come over here and be successful when they would probably fail back holds. That's a nice thing to think about as well. And then you go ahead and this higher marketing agency. They have marketing agencies here as well, and relatives back home once again. Of course, the cost is far, far lower if you don't want to work up marking at all. You don't want to worry about recruiting marketing staff. They have agencies for that, Just as I mentioned earlier. They have Vietnam works as a recruiting agency. If you want delegate everything, I mean, you can delegate everything to I mean, if you just running a really small it was like a small restaurant in a small shop. Then you could probably the hiring yourself. It's put up a sign. It's not that hard to find a couple workers, but if you're doing something bigger or you just want delegate everything you hire the recruiting agency, you hire the marketing agency. You just don't get everything. I think. What's the point in working in a country or open a business In a country where labor is so cheap, we're not going to use it on the Emanuel? Delegate everything and do as little as possible? Focus on higher level business stuff, which again is harder to do back home. We can do that here. Higher personal assistant and delegate. 99% of what goes on the business. It's pretty awesome. It's really easy to do is really awesome. It takes a lot of us veneer that moving a little while to get used to this. The fact that you can basically just advocate the throne and delegate the whole entire operation, and it usually works out pretty well as long as you to serve, watch what's going on and control things like the money you know, a song as you do. That, then, is not much risk, and it's not much cost. Vietnam has one of the highest rates of Internet usage in Asia and is growing rapidly, and Internet speech here are quite fast. That's another thing that's really nice. So as you use these tech savvy locals to reach people through marketing and social media number king and stuff like that, the race people that are on the Internet, especially on Facebook, are very, very high compared to other places in Asia. It's one of the most tech savvy and has the highest rates of Internet usage in all Asia. And people are always the surprise when they find out that in that speech here are quite fast. All across Asia, in Expedia quite fast, actually, back in the U. S. I. Venice Beach are relatively slow people. You surprised by that? We think that we have us have fast Internet speed because we have all the big tech companies. There is by the fact that most of the big innovations and original ideas and tech were in the US, right. Google, Facebook, apple, etcetera are Internet network, and our Internet speeds are pretty slow. That was kind of interesting. So, you know, over here is really fast, and that's really nice. So don't worry about that. And when I talk to my parents on Skype for on messenger or whatever, the always was surprising health past the hunger. The connection is how fast the connection is. And then they think, for some reason, some living in developing country that, you know, I must be living out in middle of nowhere. There's barely any phones, and I don't know what they think. But Internet we have here. Hundreds city is much faster than where my parents live in Idaho is about double the speed of the event that they have so that they find that unbelievable. I think it's quite amusing. It's pretty interesting that most foreign countries have Chamber of Commerce offices. So if you're trying Teoh just network with a lot of other local expats, you go to the monthly or even weekly Chamber of Commerce meetings at American Jim Palmer's Australian to ever publish Canadian chamber problems, etcetera. You mean a lot of business people there. You need a lot of expats in all different industries there, and it's a really efficient way toe meet people that people know about your business, something if you want to every chamber of commerce meeting, you know, and they only talk about really 45 that would carry most afraid that you know, you meet most people, you would be able to meet a lot of business people in just a few day. So very efficient, probably compared to never getting back home just because we're so bunched together. US. Expats, Very nice will meet people so easily being these people love special sales and promotion. Basic human business. You want to be running daily deals or special promotions. Non stop, and they will come and they will spend a lot more money. Use one of the courts, the culture. I think that back at home in the West, we're a little bit jaded when it comes to marketing and it comes promotions or a little bit cynical. We've had these capitalist free market societies drenched and advertising for so long. I think it's made us a little resistant to this kind of thing by Vietnamese. People. Love it, absolutely love it. So give it a mentor. You give away freebies, you get tracked like huge numbers of people to your place of business very, very easily, such as a good thing to know they also love foreign made products and brands. They kind of have, like a a little perception of themselves again, inferiority complex, kind of weird, But I mean, it's true that things that they make, you're going to be very low quality. Your things that they have a lot of skill in making tend to be textiles and agricultural stuff, like obviously like rights, for example. But when it comes Teoh high tech things and quality brands and products, they will spend a lot more money for things made in America or Japan or Korea, for example. So you import some products from the U. S and sell them Teoh expats, you may be able to get a sizable portion of the local market as well. Is this something Teoh? Think about some things that you may want to sell. Here. You consult herbal locals and expats and charge higher prices. They are willing to spend money for brands. Love, Disney, love apple. They love high price things. And as their middle class grows, certain things are like status symbol. So, for example, removing her spend an insane amount of money relative to their salaries on their smartphones. I am lucky enough to be able to afford a full time maid here because it get in the coffee labor so low you a couple 100 bucks and you've got yourself a helper that clean your house and do things like that for you. Well, her smartphone, she spent several months. Salary is harder than it is to believe on her smartphone. Er, smartphone is worth multiple times what my smartphone and what I paid for my smart boat, so I don't know how they do it, but they're willing to go into debt. They're willing Teoh pay for certain types of products and for certain brands because they care so much about what people around and think about them. So just interesting. Think it'll spend a lot of money for an apple phone versus a Chinese brand and spent a lot of money on Western food products or Japanese made Japanese made electron ICS and lots of things like that. So it's exciting to know that they absolutely love coffee. There is a coffee shop like every two businesses. Here is a copy shop, and they're always busy. They kind of do very well, despite the fact that there's insane amounts of competition. So it's pretty easy if you open up a small copy shop, maybe have some unique little idea, uh, theme for your copy that differentiates you from another coffee shop. There's millions and millions and millions of copy drinkers. They love music. We love entertainment in general, and they also drink heavily crapped. Beard is blowing up right now in Washington City and as for the last several years, is growing rapidly. Where it's a few years ago, you could not find craft beer or I p. A at a single establishment in all of the city and probably all the country. Now, almost every restaurant has crap beer, but the demand for is extremely high, not just among expats but among locals. Because they drink a lot here. I get a lot of beautifully amazing actually, how much they drink. And so there's a lot of market for different types of beer, breweries and other products with lot of locally made and European imported beer popping up . And the one thing the market is huge. So the next few years from this is 2018 in his course is being made is probably a really nice window here to come and open bar, sir Crap brew specially outside of again execute how being a coachman city in places that don't have a craft beer yet, and smaller shaves smaller towns across the country. If you went to some of those towns, for example, last year I lived in a temple boom. How? Which is only about an hour and 1/2 outside of what you see is on the coast and there were there was no crap really there. But one just popped up for and I think he was Ah, Irish guy. He started up a Craftsbury there and he s old, just a couple different flavors that he got from Ah, groovy vehicle. Pastor Street Brewing Company sold him there and immediately was extremely popular because Mum Tout has over 100,000 people there. And it was the only place that served crap here. And it's still a far as I know the only place that served. So there's a lot of towns like that have relatively large populations 1 200,000 people arm or and the market is not being service. I think that's a really big opportunity for people out there that might want Teoh open a little bar and self craft beer. You don't have to make it yourself. You can simply redistribute one of the other ones like that gentlemen is doing in Bhutto. And he's doing well very well for himself. That place that thing is called a cask in case you're interested and you're gonna travel to Vietnam and you want to go to boom towns called cats, and it's right there on the water and they have very good crap beer there. In general, expats want convenience, and they need certain services. Sometimes we create Western food products we wanna have, sometimes when im Western medical professionals and just conveniently located Western medicine. So there's one clinic here called them medical practice that really expensive relative to the local market simply because, you know, expats are willing to pay for that service not compared to America. Where I'm from, it doesn't seem expensive at all because our insurance is crazy, expensive, and we pay so much for medical care that even if you pay out of pocket here at family medical practice and you don't even have insurance, the cost is comparable to a co pay that we would have. We had decent insurance back in the U. S. So you might pay something between 20 and $40 of course, in the local currency. In Vietnamese dong, you use that currency, but you might be something equivalent, like 20 or $40 for a regular doctor visit or checked up a lot of my non American expat friends. They think that sounds really expensive. But for us, who you know from the U. S. And have good insurance, it's still paying full page. There's a doctor. It seems like there's no reason to even have health insurance and live here because you've had a pocket of things and it just so that expensive. You can come over here and get surgeries done for a few $100 or a couple $1000. That in the U. S. Would cost literally 10 or $20,000. Or even if you have insurance, you pay, you know, $8000 as a deductible, and then insurance covers the rest. You can pay out of pocket your cover, the whole entire surgery for a couple $1000. A lot of due to that they actually travel here just for cosmetic surgery, dental work, dental surgery, and they paid a tiny fraction. How will you pay back home and you save so much money that you can actually have a vacation and, you know, spend a few weeks, you go to the beach, your surgery done and still save money on what you would pay back home, even with insurance. So it's really crazy. Obviously, Vedic something that's like a really, really serious surgery. And you want the absolute best medical care in the world. You probably want to get some stuff still done in the US but when it comes to the simple surgeries or cosmetic surgeries and things like that are like, you know, dental tradition in plants and things, the cost years a tiny fraction where it is back in the U. S. So big opportunity here for legal services. If you're ah lawyer, I know that right now in the U. S. The market is really saturated. I have relatives that are lawyers and salaries are going out. And if there's fewer and fewer good jobs, well, you could come over here and off your legal services to expats to be consultant there a little bit about international law. What about business law? And you would have a lot of clients who have a lot of customers that no couple people already doing this and they have more work than they can stand and charged fees of your chiropractor, physical therapists or any of those jobs. You come over here, you could just freelance and serve the expat community brothers, actually physical therapists trying to get him to come over here for years, and it hasn't worked so far. You know when you have to be open to living in Vietnam, but the opportunities there had a really high standard of living and working, even part time. I work full time, are really, really good. So it's one of the great things about coming over here. Financial services as well. The tax situation. Time for expats touching us Americans kind of complicated. Somebody's the issues. We don't transferring money and out of the country, so you're a fit in the financial services industry or you just manage people's money or your factual adviser. There's opportunities over here to come and set up shop and serve expats. In the financial services industry, you get carbon nice niche for yourself. A nice fantail opening up a consulting business year. It serve expat is a lot of opportunity for those types of businesses, Really any market niche where you conserve the local expat community. There's a lot of opportunity for you could probably make a decent living for yourself. And remember, you just don't even make how much money here, single $1900 you'll live, you know for months makes you very comfortable. You have a family to $2000 make you very comfortable. And if you make one that you can even say it, a lot of who come over here, especially teachers, get a job working over here at a private school and you make about the same amount that you would make back home when the cost of living is like 1/3 or less of what it would be back home even 1/4 or 1/5 from expensive big city. And so people come over here to live for a few years and it stayed up. Tons of money go back to the U. S. And pay cash for a house things like that. So it's nothing Teoh think about. And then the next lesson we're gonna look a little more closely at startup costs and strategies for long 7. Lesson 6 Startup Costs and Strategies: I mentioned earlier. Business can be open with a tiny fraction of the cost. In the West, a small restaurant, a coffee shop, could be open for its little of $10,000. I mean, I used $2000 a floor, even though you can actually start something with even less money than that. I mean, it has to be something that could produce enough cash. Teoh support an expat lifestyle. So I think probably you won't be thinking about $10,000. Is the minimum forgetting something launched a little shop or a little bar? A little restaurant, although if you wanted to be a little bit nicer may be looking at more like $20,000.30,000 dollars. But that's something you $23,000 open you business that would cost you one or $200,000 in the West. So we're talking about like a decent little business for 20 grand. You can get in the business. I mean, you could do that with a credit card, basically if you wanted to, so it's really easy to start up and start getting cash rolling and again. Cash flow is good in these businesses because the vast majority of people here still pay cash, literally paying cash. And so he always have really good capital. You don't have toe send out bills. That's not what they do. You use no billing. I mean, the infrastructure of the country is still bad enough so that when you send out, male usually reaches you. Sometimes it doesn't, and it's not very efficient. A lot of things are still delivered by courier. People come to your apartment or house to collect money for bills. Still, and so this is actually advantage. I think in a business, because it helps your cash. Will people pay cash for everything? And so more money is coming in than going out and don't have the same kind of casual problems that you might have as a vendor in a Western country, the average annual income for local it's still only around $3000. It's hard to believe because Hutchison City in Illinois, for example, people usually making a lot more than that 90% of the country still lives in rural areas. Despite the fact that there has been a massive migration to the city that has been huge urbanization over the last several years was one of the things that driving you economy and its huge economic expansion. On average, the local salary is still only around $3000 in years going up. But there's just so much supply that, you know the demand is not keeping up with it. And that's good for us business owners. It's maybe not very good for the workers, although with the cost of living being so low in general, they actually are a lot less for than you think, especially farmers that live out and have some land on paper. They'll may only make three or $4000 a year or less in income. They have land and they have crops and they have food. And they don't need very much money to live at all in rural areas, everything really inexpensive. But the point here is that doesn't cost very much to hire people, and you get employees service and in the general staff earned around three or $400 a month staff that we consider unskilled. You know, some of that could come in and just basically do the basic job of being a server or being dishwasher or even being a cook. I mean, you don't need a chef, you just need a cook. There is a very, very high volume of relatively skilled cooks in Vietnam. A lot of them are trained as kids in the family because the country is developing one of the traditional things in the family, especially for women, is they learn how to cook and do work around the house, and so that translating translates into labor Market has a lot of people looking for work that know how to cook, so a lot of them they can easily learn how to cook Western food as well. It doesn't take very long. It's always amazed me how most of the restaurants I go, Teoh that really good Western food. The cook is actually Vietnamese, because why would you pay a Westerner one and $2000 when you can pay a Vietnamese person for $500 who's a really good cook, or even a pretty good chef? And they can learn how to code Western food pretty well. You just save so much money, it's just the way to go. So just think about that. You could have a few employees for under $1000. I can do a lot of work, so you're gonna open up a little business and you just hire. You need to hire two or three people. It just doesn't cost you barely anything. And it makes it so easy to get started up. A medium range restaurant that's sort of like a higher quality. We think of back home is being medium range. I used some examples from America, and just because that's from from places like Applebee's or Chili's or Boston Pizza, places that are decent, that back home might cost $700,000 to open. You're talking about something more like $50,000 here, so I didn't get $50,000 together between you and it's a wanted to partners, which should be doable for most of us, right? Probably raise that kind of money to open a business. You know, you can get a really nice establishment going, uh, that you could probably produce if it's successful, a good 10 or $15,000 in profits per month. If you got a lot of custom, that's a lot of money in Vietnam. I mean if you're making four or $5000 a month living in the non doing very, very well, you're here in the upper upper class. Basically, you're gonna be saving thousands of dollars every month. Orders have a super high standard of living, and it's the most English. You just come over here than 15 or $20 per hour. Some of them little bit more have been doing it for longer. When I was doing it, when I first started here over 10 11 years ago, I first got to Vietnam now teaching English. I was I said, I'm a $15 an hour and a couple years later, when I done other things, I was making a $20 an hour and that's quite a bit of money Here. You you have a really good lifestyle and you work part time. So I just show you sort of the cost for things from the labour market. Everything, I mean, including including all the labour, your least utilities, your inventory, interior design and any renovations to be done. You could launch a nicer restaurant for less than $50,000 easily, And so I mean, obviously you just couldn't do that back home, so that's just another. It's an example of the costs of restaurants is an example. Cause is one of most popular haven't businesses open up for expats when the easiest ones to open up restaurants and bars. And you know, if that's your goal and you want to have a bar or restaurant, then you could be successful. Almost 100% guarantee as long as you don't go into a place like how do you use to what you see or there's tons and tons of competition, although you probably could still be successful there he opened up a small niche restaurant , especially have something that differentiates you from the competition really good food or , for example, there. There aren't very many Mexican restaurants yet still know German city, and there are a few. But for how big the city is there still room. I think for a lot more Latino and Mexican food really popular amongst us Americans, were you starting a lot of really good Mexican food and over here there's only a two or three good Mexican restaurants in the whole entire city, and it's a pretty big, so it's not very convenient to drive all the way across seat go do good restaurants. That's just one example of a niche that could be exploited. Okay, so low cost labor into the room with lower prices. Everything else low cost just throughout the country makes the cost of everything all the all the imports, including food inputs and everything much, much lower to strive to price down. So the economy is still based primarily on Catholic You emphasizing this because salaries are paid in cash, you collect money and cash, compute cash flow. And also we don't usually pay benefits to most of your employees that will get benefits. Or do you give them benefits? Any benefits, like give them discounts or some free product, or you give them flexible schedules. A lot of meetings. People that's traditional here to take a little nap after lunch because of the Trump country. It's hot and humid here, and so a lot of other hot countries a similar thing. They have a siesta, right? And a lot of Mexico and a lot of Latin American countries stuff so here after lunch, usually you can give your employees a happen over an hour, have a little nap, maybe even closer is have a shift in the employees. And so those that type of benefits that you don't necessarily have to pay out, you know, health care and things like that. Almost nobody has health insurance and with his regular types of jobs, And so you're saving a lot of money. I mean, you think about back home in the US, for example, you have to pay health insurance, get your soul security and taxes for your employees, right. You have to match whatever your employees pay installed security and income tax, you will match those expenses and so hiring people have a lot of hidden expenses, and here you don't have any of that. So just get another reason why the costs are really low. You don't have insurance, and in many cases, in most cases going into having have insurance. I mean, anything happens to your business, and they don't have, like, the same type of tort laws that we have that Coleman has be sued for anything. The laws are really on the side of the proprietor, so you don't have any type of insurance. In most cases, you can pay cash, rink and a problem that might arise. And accepting cash also allows for greater flexibility and profits in terms of taxes already mentioned, that when the tax man comes usually usually work something out where your actual tax rate is almost nothing. If you're a business owner here, you can end up paying almost nothing in taxes. It's just a reality on the ground. And I know it sounds kind of creative, maybe to some of you listening. But I want you guys to know the truth, and I want this to be a valuable course for you and such A something that's really good to know if you're in adventures to have a person and you come over here and you want your business and your entrepreneurial, the fact that you accept, uh, cash payments, there is no trace of that cash except for what? You, um, the books and you keep so it just something interesting to know. A lot of times do you have anything about? Here's the zoning laws allow you Teoh have a business in your home, and it's something that you can't do in a lot of places in the US unless you live like downtown. In a big city, you can rent a house or buy a house because it really cheap. But you can rent a house. You live upstairs and you could run your shop, restaurant or you even your school downstate. In the help you just renovated out, however you need to you. It doesn't cost very much if I spend a few $1000 to completely renovate a place and get it ready to be a school or restaurant or whatever. And you just pay rent for the place living in and you don't better business, you wake up morning, come downstairs and this is a very Asian thing to do. It's one of the reasons that a lot of agents really entrepreneurial. We save money doing it this way. It's very typical, and the houses here are typically three or four stories, and they're every narrow because land is scarce, and so it makes a lot of sense to have a business downstairs and have your living quarters upstairs, and it's Ah, it's a really low risk way to do things, because for what you do want to close your business and doesn't work out well, then you can you shut down. You still is paying rent for the place that you live. So really lowers your risk by doing things that way. And so in the next lesson, we're gonna look at where you may want you open your visits. The really important thing to think about. 8. Lesson 7 Where to Open Your Business: So Pojaman City, also in a psycho on a lot of us. We still use the word Saigon here, even though officially it's called Human City, it's really the economic hub of the country. A huge fortune of the country's GDP is due to economic activity in whole, Human said, even though Illinois up north is the capital and there also growing rapidly. The economic engine of the country's really emergency, so there are tons and tons of opportunities. Still left in the cities is over nine million permanent residents, Bolt, Halo and Coachman City, and there's even millions more if you count two. It's nine million. Figure doesn't even count. Tourists and the expert areas are tightly grouped together, and the local affluent areas the locals that have money, they're easily identifiable. So in Huntington City, for example, really good areas to open a business and reach both expats and Vietnamese with money would be used to specifically town Being This is the place that I've been mentioning. I told you that the markets have been saturated there, in my opinion, when it comes Teoh restaurants and bars, so many have opened up in the last couple of years I didn't come take a look for yourself. It's a beautiful place. Toe live. It's a nice, convenient local community with a lot of other expats around a lot of schools. This is where the majority of the international schools are, and so it could be a really good place open in business. And then the corollary persecuted district two of the northern part of the state. Which one is the center downtown area. And then it took seven is on the South, so it takes about 30 40 minutes to get from Judy District seven. But his 67 was the crystal. Fumi Hung is kind of the corollary to district you on the other side of the city. It also has a lot of expats and a lot of international schools, and it's a really good place to open a business. The survive and a feel in touting and for me, huh, are totally different, Though Fumi Hung is a city that was designed with wide streets, and a lot of people even could refer to it as Koreatown because there are a lot of very well heeled Koreans and live there. Lot of Korean families that lived there whose parents work for Korean international companies as a Korean international school. There's also a lot of Koreans and Korean business in District seven, but it's really nice down. There is also a lot of Western expats and it just more wide open and it has wide bullet. Large is very, very nice section where I live in that first moved to Vietnam. I just do where I live now at a totally different vibe. It's got more narrow streets. It wasn't like design with any planning in mind. Originally, it has level looks and crannies, a lot of little sort of hidden gems, and it's a smaller geographic area that's bound by a Saigon River that kind of curves around is there's a lot of places on the river and district to actually built. In District seven, a man made lake and sold huge park area on a bunch of shopping and restaurants down there, so it's very much more. Man made down Industry seven and Dis accuses sort of a more natural development. Eso It's really whichever you prefer. You come here, have a have a look at both places. I think there's of opportunity in both places. It just depends on what you prefer. I prefer howdy and I prefer district to you may prefer more open space down in District seven. Bullet. There is a very safe, very nice have a lot of apartments and houses, a lot of places to live, and to those of the places that usually think of open our business doesn't one strict three are downtown and one is like a center downtown, and so do that you're gonna have higher costs for your business than if you opened up here to stick to it. 67 But you got a lot more foot traffic of love or disability. You have a lot of juris coming by and so if you want that type of a business that you want me District one or disagreement between this one is a three is that three is still downtown , but it's slightly lower cost slightly less central, the main areas that victory that have businesses like restaurants and cafes and a lot of things like that. It's, ah, a little less trapping. It's a little bit less expensive, and so again, when you come here and you're on the ground, you want to explore. You wanna check out places and get a feel for what you like? Um, the schools given family. All the schools and stuff are in District two and seven. There's a one in three are right downtown. Very, very busy. So many. There's a lot of those traffic jams and stuff, and District one and three. It's very noisy down there, but something like that, because there's tons of services and businesses and everything's is down there so you can walk around. Go to all the places downtown and it's all close together. Doesn't take very long to get all around District 13 and get across these districts in five or 10 minutes. If traffic is normal on a rush hour, you have traffic jams, and it's pretty annoying. I don't like driving down there, but I know a lot of people open up their businesses in District one to make a lot more money. Basically, if you have the capital to do it. If I were looking at double the class, um, and maybe double triple the profits if your business is successful, but you're gonna be in a very a busy area. So there's some things to think about. I'm not familiar with annoy. I have visited there and apparently annoying and cycle on a very, very different by. The noise got more of an artistic sort of culture and sort of thriving art scene. They've got Old Quarter, which still has mostly French buildings. And, of course, the French occupied enough for a really long time. About 90 years, actually. And so that's when it cools. Things about Vietnam's have a sort of mix and cultures from the Chinese influence and then French influence. And now the American influence as they all speak English. And a lot of the culture is geared towards in the kind of Triandos you like the West. You have a really big mix of influences that one of the most charming aspects of it are. There are a lot of leftover French buildings and is also a large contingent of French expats. But in annoy, you really feel that by ah lot more, it's a lot cooler up there. The temperatures look cool. It even gets really cold during the winter months around Ted here, which is a run January February. It's a lunar New York counter, so Ted is slightly different time. Every year you got one Quim link impairments right downtown in the old quarter. That sort of French vibe that would probably a good place opened a business as an area called the hi whole area, which might make it place to start your business. I mean, get out some expat forums about in Oy and check it out, and I think that sounds like a place you would want to live. Most of the economic opportunity is going to be in whole German city, also in the neck. The name is a city that is in the middle of the country's third largest city, and it's surrounded by a couple of the small towns. One of those huge tourist destination call plate and which is about 30 minutes from denying the name, has a an airport that you get a lot of direct flights to and has the famous China Beach or a lot of the soldiers from Vietnam American War made famous. There's a really big, long whining beach or the most busy beaches to be nominal someone the nicest pages, in my opinion, So everyone is not high tourist season, and it's not totally crowded, but the name is really good place. Open a business because it's also riding is growing, but it's not quite saturated with expats yet, and it's going to be going for a long time to come. Very nice. And you're on the beach there. A problem with the I would say the potential drawback with London City and annoying is that they have no beach. You better go out of the city to go to the ocean. Where's the name is right on the ocean. But it's also a bigger city that has a lot of services and expats everything that you would need. So the name is an attractive option for a lot of people. And I know Illinois. Oh, excuse me. Going hand is actually a UNESCO World Heritage site. It's an ancient Chinese bill village that has a lot of French influence mixed in there, and it has a lot of tourists. It was very, very touristy. Now read the guidebooks and you go in line going and a major tourist shop. But it's really cool little place to visit. I mean, I went there before it was totally overrun with tourists many years ago, apparently has gotten much worse, But that could be a good opportunity for you to open a business, so you might want to check that out as well. Lots of opportunity. And today and Oy. And another thing about annoy is that it has, AH, worst pollution and Richmond City. For some reason, a lot of people say that's because of pollution coming down from China. But apparently the pollution problems worse there. And so that's Ah issue if you value your health, pollution and Vietnam in general is pretty bad. But in annoy, apparently far worse. That's something to think about is also more regulated because it's the seat of the government is the capital. And so there's that whole aspect to it. Which is another reason why a lot of people prefer punching city. I recommend propensity for most aspiring expert entrepreneurs because there's so much opportunity here. The populations is bigger, the industry's biggest more capital here, more potential partners and things like that. But if you want to go to a small city where there is, ah, no less competition, maybe you want to live on the beach, maybe just don't like living in a big city. Then you could do very, very well of yourself as well. So some examples that air alone down. That's when I already mentioned I lived there for a year and 1/2 and I decided to move back to the city. Mostly form reasons for my family services and playgrounds and schools. Thanks for my kids, but tell us pretty cool is right on the ocean. Philly. An hour and 1/2 to 2 hours, depending on traffic outside of the sea. And it's, Ah, pretty nice little town. And like I said, there's a lot of opportunity pounds like this, like you could open up a Mexican restaurant there and serve expats. There's only one Nexen restaurant, and it's run by big knees beating these couple, and it's kind of a weird, seafood style Mexican restaurant. Nothing like we would have back holes. It's also is like a really high end place right on the ocean, so there's a lot of opportunities for images like that for restaurants thing to serve expats with a huge contingent of Australian retirees there, especially a lot of US feelings here, Vietnam. Nothing. That proximity is pretty close, and your pension check goes a lot further in Vietnam that doesn't Australia. So in Vung Tau is a huge contingent of them so of your Australian and you want to cater to that demographic. That's probably a pretty good opportunity. Chang is another coastal cities speak tourist destination. Very nice beaches there, and lots and lots of tourists could be a good option. I was traveling there before I went back to the States several years ago. I was present Vietnam, and I am an Italian guy who had a restaurant right on the beach, and I was pretty abusive Him. He just had a simple restaurant, has a little bit in his family, and he cooked Italian food. And then he sang songs and played music at night. And he lived in the restaurant and have create nice a life there. And I talked a little bit about his business, and he has been a very long time for about 20 years, and so he opened up with a tiny amount of money. He'll bin is for like, 10 or $15,000 something like that, and it's right on the ocean. I don't think he probably couldn't do that anymore. Get Chang. But another options another destination. You could look, look it up. Who cook is an island down the south off the coast of, you know, kind of like below Cambodia. And, you know, being in these border, it's being developed rapidly, with tons and tons of resorts right now being built on vocal ground. It's very beautiful down there. It's more untapped. The beach is a really nice, and that's another option. If you want to live off the island and a smaller have a community, that could be a good place as well. So and this is just a small lift. There are dozens of potentially suitable candidates for you. You don't mind. Something is more adventurous being off the beaten path of living in a small account, and I say smaller. All of these towns have over 100,000 people that the name has three million people and no one has over 100 people. So these places are small in the enemy's standards, agencies are very densely populated. So a where I'm from the US 102 100,000 person city isn't considered that small. He's not from where I'm from. An Idaho weakens their you know Boise, our capital city, has about 200,000 people, and we consider to be a city, not a town. But these places here presented to be much smaller towns, but they have more than that. People support a lot of expat businesses or even, for example, of tutoring. Business came to the view to meet some. That's like an evergreen niche. I talked more about Evergreen, whose idea of an evergreen niche later You know anything about business. You're probably familiar with that marketing term. But if your plan is to open up to doing business or being English teacher and you could literally go anywhere in the country, especially to a rural place, and hang up a shingle and just start to, you're gonna have more business than you know what to do with demand is super high. Now it's getting a little bit saturated. I think that English teaching industry and coaching city just because it's a very mature market now or I should say it's not very mature, but it's becoming mature. You might have more competition, but there's also a lot of turnover with extracts, too. So a lot of people constantly leaving the country, and you can always find jobs simply because the man is so I. But if you go outside of the city to these other smaller towns and you want to teach English, even open up your own little tutoring business and do very, very well guaranteed and the next few lessons we're gonna look more specifically at individual business models and why they work, how how they might work for you and some ins and outs that you need to know. 9. Lesson 8 Opening a Restaurant or Bar: so opening a restaurant or bars are mentioned is easy because there's very little regulation. There were very little start up costs run from your residence right upstairs and you running downstairs. Zoning laws here are very lax. Would you? Really awesome? It's one of the reasons, and so you start a business state. Western countries. Let's go downtown city zoning laws that I do this for some people in the city, it's also going to need a lot more expensive because everything is more expensive there. This is really a game changer. Actually, you are willing to live this long. Live upstairs. And there are restaurant looks very well and lots of love of ex pats that do this so easy to attract other expats living locally little oven expert Lieberman and having a bar downstairs. No, the margins on drinks are very, very high, even higher here than in our whole countries. Because even though cough living here is really bo, beer and alcohol is actually relatively expensive. Things even know cost less the price average they would in the United States, for example, here, in which city and even left in that other thing Look, there will Order America, Steve in New York, San Francisco It's so relatively expensive and other things, but the England are so you have high margins opening a bar is this reasoning and Bob Seger giving up like a really good living or really high? The only issue of the invention is in there. I've been an optician ending on where you open it. But if you just want have you to run a business where you hire a couple of staff members to serve drinks in a bar that you set up downstairs downstairs in your residence, little stares is gonna be simples and the easiest way two million for your over here. So a competition and dignitaries like be may want to avoid those. But in this particular area, see, also go. But you can get there. You just have Teoh Look to Europe, for example. You just need to make a decent living. You just want to talk about, but you get the people may be coming in. The U. S. Is still good living here living like that a little our theory and some fine, even with because a lot of so if you have a place for 6 to $700 then downstairs has been You know, if you found Teoh kitted out to a bar, you know what? That's why up running and start selling dreams. So one of the easiest ways to get started, considering never reading in marketing and everything, which is anything that, as was there will always be a market for about what? So you know, they say sex sells right? And so any niche that always have high demand, this is evergreen bitch. So, you know, every village, anything let you, uh, sex is Rhenish, like dating APS and dating products, for example. Really good niche. Anything that related to something that always, always have the man. It's a never being next. So this is one of those things ever mean, which may have a lot of optician. They're always demanding, always car out. Small knish In businesses liking some species thrive being very, very specialized. And so, even if it's from the competition, you just find a way to arrange yourself yourself one's civic type of product. One thing that attracts people's your bar, your bars as a Darley, or maybe a little table, and given full leading Or maybe you have seen that people like to come into you. Maybe you have a knowledge that teaching mixed drinks your one place that makes really good marquees or something, Some sort of being the names for things actually specifically because that sort of remark age and, you know, I have literally never had it probably made watching very what we would have at times a really fancy bars. Here there are tons of places that have all your dreams in the park are still looking. For some reason, they don't seem to be held in May. Problem. Martini and sure why, that is. Maybe ask Green Olives combination right now. Stuff extreme, just just you personally. So that's just one example. Usually have simple business. Something that we would consider a life goal is not to make as much money as possible. The goal is to be your in Los Angeles. Display yourself being independent, then a little darling. This pretty easy way of doing business. Small ifit's getting interest you is probably the easiest, which is why I did first. It's flexible. Pulled it down, but it's also released. Maintain trust todo money. It's not rocket science to sell dreams that morning are really good. So it's flexible. It really is assessing their own really good things. I think that being here in the city is that this is tend to concentrate in one area like one street. You might have a tenant, 20 bars, another street might have places itself and find. Start before there was the super easy to finally patients, but also the big city think since cost are you need and now shocks and old place city mall . The moles just leave a lot more expensive. Then you go Teoh these vendors on the street. So you open Amar. Maybe that whole. Do you think that You know what? Your barnet are just politician however other and you knew and you open the bar and is a popular bar or some bars around bar or restaurants. Your competitive track said they're going to see yours, and you're gonna automatically gets some shopping from that. So that's ah, nice used and very excess and something. You come out areas and shop there and there. And so I get a lot of with this business from full, which is another reason why the probability of these people make a living doing This are long some of the other businesses, and so God is fast becoming well known. Foodie destination has worked with publications Little Bride and all those involved world starting to be listed in the top city or all kinds of cuisine and really good restaurants throughout the world. Asia. And so the huge number here is here is a big foodie culture live here because solo eating out going. It's just one of the things about, especially because during the day most people, especially levels, is they're so used to this. They stay in the world today, working in their offices or whatever, they take a nap whenever they time, everybody goes out in the That's why a huge number of offensive are a mentioned but also like still illegal businesses. An evergreen it because the Mac so hot. So you're going to be You don't need to open up a restaurant built something small, And but if you don't want to be in the big city, don't want anymore area, you know, think of looking symbol of the city that I imagine Invention years is the, which is just much more what planet much cooler and a couple of a lot of us normal west in us. And so what relation? Time sick of being a human all the time in much of the city. But if you go to last much higher or something, and so it's really cool, pretty much always you around spring policy of a general spring. This country's for a lot of medium flour and other products room, and so it was a big farming immediate, but it's also a big city of you still have a 100,000 people that live there and that next, another place that you want to have a nice, quiet life and a are anything care to community there. Any of the other cities have the Allman Expats and you can cater business towards then usually do well. The book is a competition, you know, mine stuff. You know, it's not nearly as bad in these expert areas that I'm mentioning. There's just so much track but so many people that you know people in sport a lot. This is so where you here is a little different because everything's blooming and continue to be to boo because of the simple Democrats. So many people coming here is growing. And the, uh, delicious young and the low class is growing rapidly. Demographic situation. That's not going to change. No matter what these people have to spend money, they have for themselves. They have to work at the, you know, be involved way around. So his boom is going to happen for a long time. I estimate that about 30 years in terms of development, maybe they're a good 40 years, another China, because China develops so rapidly and it quickly become a rich country, you know, this still offering throughout Vietnam is behind. This is rapidly catching what makes a really good place to be the one. Sure right now, especially that I would say the next most popular and highest probability of success Business Open is a language school or a to go to that next 10. Lesson 9 Language Centers and Tutoring: so there are more regulation for businesses that administered as a school, which is what you want me registered at something else. You doing this to yourself? Came in way, you know, 1/2 day, but primary business to be known. Tutoring you. Listen, sir, popping drinks. But you haven't tutoring business something that you think should register. You know, administrated as some sort of a school is an educational institution. Because then lots of regulations. You want to go big and you wanna open a big business and the proper school, And by all means, go for just that. Regulations. You have your license. Take Teoh over a year and several $1000 to regulate the industry a lot more than these other businesses. So wear something else. You're in English center, then you know, it's a little tricky. Your advice. Be loyal. Do. And my experience is simply holding up. Start running and again, anyone comes, say you have to offer, Then work something. You do a little deal. Let's wait here. And it always seems to be I mean, driving prices, and we never get over revisit language barrier. And at least let's go. Everyone smiling here story. I think twice over because they broke the law or even driving drunk or something. And then the least 100 more, like most of us take motorbikes. But even then one of my students only human. It's not that the risks, that big deal. Same thing. A lot of teachers don't have work permits. Worried about coming over here now having work permits. This will help you get a work permit school. They give you a work for men. But most teachers become get a job, and then it just never give you one. And then when the government checks human, you have for preventing list then, as the teachers from the school each other permission people school have remained. Don't listen as boys and want something weird. Us a lot of regulations and kind of dodgy is just the way it is here and lived here for over 10 years. And it seems to work for now. Nothing changes department. It is just the way the government runs away with country. Run 400 involving and everyone needs money. And look, officials will make my teachers these all kinds of municipal workers. Basically, they were assisting kickbacks way. Look at that in us as corrupt. But over here you get your mind. Don't be corruption that that's not even a word, but he's really They basically just look at it as a way of doing business. You know, anything is traded for you want out of this? You want to let off that give you a compliment? It's a code word and much, and it's usually not that because that's or something like $2 for a teacher and so believes it ran just a little way with business. They're going over extorted money out of you and you go on actually having a ticket. And when he's a little June little teachers like and this is really messed up their force. Students have extra tuition and course of parents. You may feel like extra lessons of the class uring producers out most of money from a section to wish. And if the kids don't made a doing, those kids get worse creates so that Z really messed up as a teacher, but kind of explaining you still sort of a little way that we've done here and accept in particular very, very useful and beneficial because even though they have a lot of rules for permits regulations for all this stuff, I'm not telling you with Norm is on the ground inside the country, and the reality is you simply don't worry my by one year and not that much. Basically, we're like a really, really wealthy person be back home even though we're not rich. But here has been speaking. We are. So it's just coming in a way they say Don't work so much over regulation. There really get around. And if you really are stickler and find, I'm saying difficult to digest, then you simply my lawyer about money and has a lawyer basically, a woman feels for you or if you this way to do things. And so that solves the problem in case extremely kind man education, service duties and a lot Gin is natural. Schools are very my school, 20 $50,000 in cases for years, and those parents or large corporations and the executives of 19 indeed is Hola and many other big companies besides operating here, and a lot of times they want the tutoring services or maybe one spoke committees again, said my company, Second sports. First opened it. We're coaching users, is or sports. And there was a man that still surprised more demand for Waas. But it's more competition on her beach. First doesn't really full scale services in that area immediately, but now get area facing more competition, although there still is room for a small operation to open something that will support him . I mean, you still do it. It just may not mean that large outlets that way were able to become in a short period of time. But language in tutoring center here, really big business billions and billions of these kids definitely won't get a good education and a big part of that age. Now you have to learn English, basically compulsory to be considered a speak English, and they will stand any amount of money for their kids to be able to speak English. And a lot of the kids will be meeting with these give international dimension. You figure that a lot of them are the Children of rich parents and a lot of the case. But a lot of kids just have a family that pulled a resource, is and saved up, huge descending into the really expensive international school. That's engine or so lower here. I'm still getting indicating that or teachers, but they're not the same level and maybe Jewish building seven year. But your training still education still in English, a lot of them. They also go to image Lincoln Center's or award to be able to be accepted in the international school explained for them to be able to study English in So they go the years linger. Sentence first Human, a little language center like giving something small, which is my connection. First working for later center after while right out of my house. And so I started people old neighborhood school, working in private lessons over my house and the house work and there by our cash lessons, and it went really well, really so much demand. Or if you're a person, this is the easiest business open if you're here towards education, as opposed to, you know, the food and beverage industry. I talked about opening bars anyway, and if you're teaching sort of more like education and you're teaching, tutoring is another really great winning 78 year expats and opportunity services and things like that, the kids at school board in your meeting with and you. Mostly it's teaching English or focus on stem like Matt figuring stuff really, really big on that as well. You can work with students and parents large or even market directed that the schools themselves and say, Hey, I knew tutoring company, our info background angels. You have students parents like Do you mind whatever going in school and they will send. And this is the way our schools and you could do a Google search. There are a lot of international school in which men, city and annoying especially there's a finishing in your city is gonna Nation International School International School is a green. Is any international school many more inside of kids in the schools that are all hell money ? And they are very serious about the thing. This is a big business here. Education, tourism and food and beverage industries and three biggest industries in are booming, getting booming for a long time. So you want to go and do it under almost basically, Clinton additional mentioned. You've been over something that years before calling, and he's a brown. All the students they don't know. I love sometimes about a minute ago on a rock or a test prep school. Us with them. I think it s a t A T U. You can focus on that market, which might range the usual far fewer places that offer college minis, guidance type services. Standing at his mention, you could open up a school or centre focusing on stand, which 18 really injured, really, in the engineering and math stuff stereotype you couldn't remember. But there's a reason left their type because they believe in the value of science technology. A lot of working parents most push it, but ha high man. For that stuff you see marking courses and seminars. This is a booming issues. Well, friends and Martin that go around and actually have a Spanish, some of them and we do Self training Seminar, marketing seminar. Teoh Adults do it for kids as well, far less the man business forces for kids. But you can use four pills and a comma. English business, English sales and marketing so big, that thing you've given you like public speaking and leadership. Of course, this is a new, burgeoning industry over here to start me, used to a lot of the famous public speaker Tony Robbins and six states that have been translated into beauty and starting your opinion of this. So this is really, really early in the seminar in a show here with unbelievable English and business expertise . So being mean business people, one is a lot of money for services because there not good, and they don't have access to our universism many cases. So adult education English This happened things very, very and just started getting really accepted in doing made street that discovery. So all the educational business model are really good businesses. The real never raid injury years. Gonna be English training, of course. A lot of competition in the English business. Now, if you want to go big enough, huge center like it might be very difficult capital because there's some big businesses. I example that we don't market only into you. Tutoring or small groups do side 10. You get a lot of you easily get upto 67 Profits have been a few months to hustle, and you go up replying so big big businesses easily older are Can you get the other pounds outside of the city and do something in order scale competition. You can easily car about for yourself. Good living. So that sounded from something good for you. It's not exercise we're gonna look at is a tourism is another one that's 11. Lesson 10 The Tourism Business: So that was a tourism business booming here in Vietnam. But it's difficult. Sometimes a lot of companies to really connect expects Tiu language barriers Is big tourism company When your final line or, well organized a big problem of those companies is they typically to see people straight with big your assassinations of to his traps in words and a lot of one traveling? Let's go to the places, other tourists going to a lasting Things that are off the beaten path is a unique and things will be seeing more local. And stuff like that is really good business to be here friend who does this and he says, Get more clients you know doing and the markets facebooking work from their net. And he also just goes around Teoh expat destinations, resorts, restaurants, basically numbers and these people that were traveling and says the offers, tours and get some business. And so you know, this is living in the country for a time. Do nothing like last year start to business. But once you know the country event watching yourself, you don't need to have that. You feel show number, you know, they say you would be you show them around and it could be really fun way. Split yourself while you're living here. Give tours. Ex that used local labor. You know what your visit grows and you could be the one that gets the customers that you can have these little who thinks English. You can show your customers around. You could do something through yourself, get started, then you can transition out of it and just be a marketer and run the business after it gets going. And this could be a really good friend that I have does is listen, you villa thinking a lot of money. So it's working very well in rapid me crazy demand for the services and Dude, you whole industries marketing efforts. No international somebody coming up resorts here. There's a lot of marketing board Vietnam through assassination right hotels, all that marketing and yourself in the industry and say you give tours. You can even partner up with resorts and with hotels and say a business and, like in work with you guys and put the profits basically, you know what else can think of a mission for giving you business reading split 50 50 because it's really a easy way to get businesses department in the ancient city alone and say tours, even the services. And we'll enemies tourism, businesses they don't have for them. And so tourists I know, I know trust will be more trusting except giving me a tortoise. So Teoh communicate, not worry about scan You feel safer. And so that's the way they tell me, my friend was basically so that this is going too fast for being built. All this country you could design. I m specialising practice to you, partner with resorts and really fewer tourists, right? Just go volume and partner with as many other resorts as possible and grow that more your services you when you do. But there's a 1,000,000 ways to attack. And so coming here, seeing what it's like on the ground is waiting to this one. I would say six months or a year on This is businesses. You can transition you. So you have something you started. A lot of people come here and there's a lot of savings. So she you have $15,000. You live here for a year, you know, really worry about money. You could even do it with less than that. Like a $10,000 I brother that this year he lives nice like he doesn't know party speculatively shopping around. Just like to read and use thing to spend much money. You'll spend some time to get a nice life. Good food. Eats out most time. Still takes like taxis pretty much everywhere. So you live here are very small money and so you can get here. You're going to see what things like while committing to science and business Explored network in other ways. You can do these things. The truth. Mrs Your incline Teoh Travel on sound Something incident. Way to go. You don't have to be found our restaurant or school. So you said small mixture of business yourself said his partner cures you can again You could rent a house and, uh, put your side downstairs office. You know yourself having a way to go create a website you have for you again, lady There. So you get $100. Good website. Feel very much at all. Have a nice you could attract for company through your website and show the whole process. You have them. Hey, on the Internet before they get here. And then they come to meet you at your office and give it to us or just run the business and you hire a local or two to give the George. That might be something that you would like to do more with the business side of things, unless one and travel around the fears yourself that they just people come in and it's not away. They scale better. Obviously, you confuse yourself. Limited money. You can make your time limit you want scale and get as much business as possible through the website. Drive traffic your location on and Hope tells you this and hired. I mean, these people give them tour. It's really pretty simple business and the market, and this will be really nice to have you ever been a tourist and travel round matures. They can be quite expensive. And so they received pause here. Very what is your labors cheat you really Good morning. This business is also really good little travel and things got especially given to me because I have some experience with Congress and the next step, the simplest business that you can go into the next spot expats can talk. Today is the opening small shops, small store some, but are the easiest thing to do was to expose and be open with very small capitals were living that. 12. Lesson 11 Opening a Shop or Store: So you just media started a bigger school shop. It works well. You're living on the side of our image already houses, they're downstairs. It works. Allocated product, clothing that we mission back O other than products that are made, products that you sell shoes or anything from mine. Really? You guys have a small niche store? My sports being here. One of the good things about which store is that usually closed down? Travel, Clothing rolling. If you say you want travel on the country, it's not that big of a deal of obviously gonna lose income. Not have people come in your store while you're gone. It's really complex business that fuse everybody Clothing full of job. So it's waiting for probably simple way the easiest way. And so you're pulling shoes to get more food products, you be including me. Believe once and then having may your thistle creative very instead of like buying, reselling it with buying in a broader, bringing it over here and reselling, in which case, the prices that a little bit too high. You have clothes made here very cheaply. There are all kinds of textile companies here that will make clothes for you and the falling really good workers. They were peanuts, work for almost nothing. And so he was gonna find a partner to work with. You investigating require assistance, even if temporarily etc. Listen, I want these styles. Maybe you need to show the pictures they want kind of short, these kind of answer on the senator. And you just have made, like, almost nothing. And then it's Markham up so in the expense is mentioned. And really, really you could make it so the price is still c e. I know someone like me who are times clothes that fit your shoes that fit in here not only pay to have that products I'm going to pay in the evening of my hair. And I mean, I so want to pay. But I wouldnt back home in 40 or $50 for a really nice hair short, for example, you could charge a lot of us really high marks. You can have that made that stuff they'd like to $3 then sell for 15 20. And really building one is a good one if you're willing todo footwork having the labour sourcing. The police showed a foreigner. This is a good one because a lot of places here, Chinese made and dangerous and so reselling boys here. Price would be nice if it is somewhat of a small store, some number of Fisher Price or something. Nothing. Lego toys for getting those little niches. We just someone running that be enough to support you. And it's so simple. You, some one man. There is one thing, and you market directly to expats, where all the bands on this, really you are doing this. Just want to find a place. It happened. Good to go. Selling wine and alcohol is a really easy one wine shop that warm workings are popping up again. This is to see, but that's that's the most popular place for excess now from in the country because most places city, popular city of the country. But in other places, I don't have to get good wine. So era wine issue, not a line out. All this is a really simple bit. Bring it over here yourself. We're willing to pay a premium for those really red wine and you live in a small city and so right splitting one once the whole entire town find a year and 1/2 and 11 visa is good for their, I'm sure running that's a pretty easy visits over. I mean, you get a little space Little store and buy the easiest Teoh. One big games really popular here, and they're really expensive, so you could find a way to get the game's over here cheaply. Self extinction text boxes, the game, things like that. But like some game, the win leaves the song that I know are and big bucks or big malls. You know you really love you game and you opened up a little baby in shopping in the X That area. They want to talk to kids about a game where the adults about the game that you give a little culture around gaming nothing like that. Nothing like that. Here. All even help me in that area. I think that would be a perfect business right now. Open up selling video games and means something that I'm doing this stuff, probably one that I haven't you. Just because I see nothing at all like that here, I think that would be really good Niche you bookstore by selling using a source close from other expats. Buy really cheap and then you sell. This is really good business for expats. Really? Seriously, because there aren't that many places to get good books here. And expats, we can have a large caches of books will be bringing from whole, even though a lot of people still obviously you can't read on their people now, baby e books. A lot of us. I know. We prefer three, actually, paper books, real books feel having rulebook and I get fine. I use boost over the entire country. And they are. They are. They have some really good you bookstore is really good business model here, because only thing, man, or you wouldn't be buying used books form all great, because you just by the people and bring them to you. First, order that building where people bringing books every day. And you you select one. You want your inventory and you can pay them in dollars or book. You know, you could mark up in Southern for $4 for book. Whatever margin is unusable very high. My parents have books, the United States and so I have a bookstore business and you don't make money. New clothes you used to use those have lunch much higher. Martyr s 04 x, that business years for foreigners here. I think it's really, really good up to me. If you really love books, a material unfairly mind I'm going to be used by himself. Books or action is very beautifully. I didn't do it. Basically two projects. When I asked people on base all the other expats that well, the next city thought about a used bookstore. There is overwhelming support demand for so pretty certain that it would be really good business to start. That's another idea. So lost weight support themselves here. Next, we're gonna turn to importing next. This is a way that you want a big scale. Oh, that you could do that. 13. Lesson 12 Import Export: So I mentioned a little bit in the last lecture about texting you could have posed made seldom here. But even better, be wanting a lot of money is that you can have clothing is still here very cheaply and then sell it somewhere in the west. Be sourced high quality, low cost coffee here and mark it up and sell it in the West. Living on this is small. You just have to have a partner somewhere in the States for a year or wherever to be self ship it to them. They have them store, they sell it, you guys for the problem. This is the way that I've seen people making most of the people who are making a literally billions of dollars a year in import export. And so there's a little bit more. You have No. You have to know about some of the regulations on the morning Things Well, products are have Paris. What products are allowed and things like that. More cost for selling is heavy. You gotta be a cost shipping, obviously. But if you do, this is scale. You have capital to get started. This could be by far the most lucrative thing to do because you can scale it. And so you've got a friend and business partner in the U. S. Has a clothing store or they next go around and find a bowling store. Harper, you still those you guys made? Or Marion, You can make insane amounts of money a little more complicated. A few more moving parts. But this is on the way that you want to like you really rich that you can do so on the reason that everything is now made outside of the U. S. It's made of the year in China. Thailand, Bangladesh, etcetera, Vietnam being one of the least expensive place to pick out China interview booming business and said a huge amount of a relatively unskilled and skilled labor here. It's extremely expensive number, living later because of the inputs as well, so you can have a sure or short pants, made a couple bus, and then you spend a few dollars per unit shipping even less. Do this big scale shipping actually end of the spread across the unit? To stop that much, you might have to be looking at, like for $5 pull off for some unit, whether it's a sure shorts or whatever it is. And then you mark it up selling us $23 or even Mawr really nice and then you and your murder smooth really high marks for visit you could do in scale so you can also fire stabbing program is here to create websites after you to sell the apple or Google play that you is interested Textiles is your basic Mormon here. Great start, start beside you all those things. You don't have that. Still, we don't have a time do it scale. You could basically higher year Tell them what you want and they will get a little up. And you could make a lot of money basically on the Internet by using the skill tech workers over here that if you're living in the U. S. Programmer 19 people make a lot of money, you can afford the businesses charming. Well, over here, you take a human bucks you build out. That works really, really well. So there's more. I mean, anything that I've seen people do. I done them myself. Get implying that for me usually have a partner in a country that will sell for you. So you don't have that work. Also those you get a used private Lingling and you could basically get shipped. All stuff to enamel filling center and working them set up so that someone orders a lot of family everything and somebody or is it on film for you? They pay you with a car, you can open your source on all the products, shipment a list of all on the website and have a lot of maybe you shipped out another thing that doing that as well. That's really easy. Way to go about doing spying, beauty, Schiphol. More your own rent and labelling. And so you know, all kinds of products, I think chops and you just buyable chopsticks and have to be like, really cool bench looking chopsticks us and then my whole sent over their brand on, you know, more bang on this among mammals on selling cheap and have a lot of people just like you. You could do all kinds of things. I'm even hoping to get for foreign later. Huge demand have already said Western English teacher, but given for a lot of things centers because language there, even though the Lincoln Center. The office people speak English a lot of time. Not very good screening out good applicants or knowing where Teoh host and track features a lot of struggle due to this so you can open a recruiting center, help these schools, these language centers, higher Western town. That's another really good business. I know some people who are doing this as well, so that something something that you have experience with you get at it another way. Uh, work later. But that's another way to go virtually unlimited ways that you can do this thing due to the fact that the communists moving the money is there, it's relatively early on in game. Still, there's so much demand for services, and these are all smiles that you can only do because of the country status a moving developing country once served for because of the expats here and special situation that countries and I was my best will do this, do you to exactly where it's at processing bellman do that tropical country live people running warm and blue like questions, especially Americans of a lot of women here that love Mary Ford er and this Sony demanding something is an attractive place to come and you know what to do. And there are so many ways that you can be successful at it, that it's just crazy, really amazing and all of that. I mean moving here. They don't call it agrees. I have nothing to do with no prospects. Job coming here, not only holding that living people who are getting really busy with my ex business partners. England. He's a soccer coach. You never want university Big, really street smart in sales. Well, he converted our experience. Second sports got me into his own football boxing, holding on to look it up, and he's got thousands of students. He's making a ton of money. And if you go back to England with into the coaching business, try to get football those. You have an insane competition, brother coaches from large companies and a very good living there. Here is a king, and he's keen. A couple paying for the whole country is based in the city, but he does training all over the country, and this is booming so back there is a business here for you. You could do something like export products that way, Even Tiu Living rock. There are three million CDs, people and food. Especially fruit, fruit, Teoh fish, dry fish things. We don't have a lot of their fish sauce, certain vegetables. A lot of their meeting these rice wine. What? God is unique type. They made mostly annoyed. Is there a lot of regulations around this and things like that? So you understand. You know, Charles, rules and regulations, that business for you, but something you know, about a year learning about that. I think in this area you come over here farms and source food and other brothers, and if you could those and sell the whole way on and get scale. But it's one of the more challenging things. Do horses challenging? Very so if you want to scale the full trying business and the opportunities to get really rich are definitely they're just going to inquire. Or so something business models are like Teoh country. Be free, some of them most important, exploring for education is getting stale. Well, some of these usually, um according to their you're open to doing it. Then you can do it. And finally look at that being a freelance, whether you're training and aware teacher coz or corporate training, You come over here freelancer and make a nice living there. 14. Lesson 13 Freelancing: the grieving of freelancing is that the very services for you is that you travel around a lot of legal services, medical services for poaching in sports, you chest and something where a lot of man or training you know, you just and these beauties really chest also bring in English. That's just has been very good. Three ways Way Generally, people in the city for the lessons or they come to me and downstairs where I live and you like that and especially educated world. Thetis Cove in here is in charge. Whatever. 3 $14 How where Services a lot of expensive you. Do you have money? Market is getting the right school there. This executives their own Teoh Euro location, off speed, freelancing, traveling. When I I know that that's an idea. Really? Well, you could make a lot of like here and blues Thing is basically, but there were people looking business, car and off base. And that's something that, since you're freelancing, would you need a registry business, cash? And you know, I think that really, really teach you something that there are very Western dances their positions around, Even if your baby your doctor and insurance or you want to change from the U. S. You can come over here and be a freelance positions and visit people in their whole Yes, probably money living behind a man here. You might have a ruling, interesting life and still really good living doing in trouble country. I think this, I think, is becoming for links, really trying to do this and do well. But I think it's like thrilling belt staring. But it's just another idea, because in general there is high demand for services at relatively night. 40 with our money, states a lot of money here and you really well. And you can you be collecting money and calf. So this sense, in this case, it would be all on the table. And so Teoh keep all that. So there's a lot of manage Teoh. Extremely low cost of living allows those X you're part time and have a higher standard, really than an old country, even teachers. Your majority park averaged about 20 hours a week of teaching and average about $1,502,000 of net income. So want me? Is this anybody? Come over there. Any native speaker basically even think they say you have a call me if you get enough shooting like the best paid our But anybody, literally anybody, native English speaker, come over here and find our baby. $60 an hour is going on around us and make our easily have a A lot are doing, and if you come over here and find T that's saturated, done doesn't other nice. You can go Teoh and make a good living doing something freelancing. You just wave your open and travel or you monster. Two years. This is the easiest way to do it down, go meet people and provide services. So I think this is one of the best ways for people that have this inclination in the teaching freelancing to your on many things. Just private image teaching lessons. Do you charge playing about $3? It's kind of a going rate because the student is getting a list of more students. Our school So you are. But you can also do design design journalists year. There are a lot of extra around companies and for a native English speaker and so people opening up businesses all time and needed you just came over here and lonely around, and everything is meeting another excess. There's all kinds of problems right now. I mean, it's amazing what's happening here. So need great being here. Is that the Vietnamese inexpensively? Our meeting is really good stuff. Some people, some companies, one for working there or in order to be O. K, the native speaker that you know. And so you did you go to these as well. So really, there's something for everyone. There's no reason linking over here and shop and live a long life Us nothing like it is here as a teacher in a freelancer, your someone kind of like trials things. It's like Paris. You have beaches, got warm weather, people really love forms here and really just amazing. I mean, there are drawbacks that you should try living on the big city, the city, But I want to stay around to and all the places that I used to do. And so I don't want you felling country more like they used to like that kid being older. I mean, you could do you. Do you want to travel around saying good things about living here is that you can I want to see more land. Bali beaches building China, Disneyland all something you are doing here. Additions Just having freedom. There are other that so highly recommended and last several lessons. I would give you a few more I use to give him a small and score some general. 15. Lesson 14 Other Models: friends opening breweries, crap your stations. That's a boom business right now. And it is something that you're interested. And I know that they your market just being our whole today is being settling in the U. S. While is booming over here. Essentially, you want to goto smaller mentioned, which gave us 100,000 people of the lower number Xs and fewer services offer a lot of opportunities going What other locales? Even here in me, Because extract like drinkin beauty's love you and all set of his new of huge varieties of higher end craft beer and I get a different kind Players, they really, really are taking to it so that, you know, in a room or in a hurry and resell Beautiful. Maybe somebody else. This is a really good business, and it is also this idea meeting. So no matter living in a country, so got designer, your Web designer or allied forces like this one, you could hurt living on the Internet and may not be enough to live comfortably back in the States and other Western country. But it's more than really comfortably over here may be moving into know Mattis is money from the Internet. You can be anymore so you can be travelling costs in Judaism, living No one for a year and inside in another country for a year. It's just sort of a new life, and you exist being possible before the Internet. Now wait for you to make income from a lot of horses from doing like you being some of fire offering to dio cramping design or even this anything writing, writing all the time ways you could do it. You can only make $1000 a month to be comfortable United States. But that single S o did you know that is a really good one. I do this. They don't worry about money at all, have a nice little lifestyle and they have really good miles. And so that's a top ideas. Well, you need to open a restaurant in a smaller town and off radio services. That kid expats there, somebody out. He was more like Grendel's five motorbikes for like, five bucks and then went to like 60 70 bucks a month and expats motor bike rentals. He has a little service review, some really cool instead of people having to leave the country for three months and come back in to review their tourist. We said a lot of people don't work permits you don't have and the last three months if you go out for a new one but you hire someone to do the service, they can actually just go get you a stamp. And don't worry about waiting on the last one. Which offices go to communicating via TV and everything like that? He just charges a fee, and then he hires this cases and she just goes and gets a stamp and just locking up a problem. They also large Susan shirts and clothing in this case, but I also have a serving instructor because he lives on the beach. But I mean, this is another way to go about doing the play. You guys about the Italian guy at the beach. He's a musician, so you know, he has basically just stick any pizza and then in the evenings and not think. He lives on the Roche and plays music and his address. So it's pretty good life adventure. And so those things that you do like this, if that's you, you know you get is on running again for 10 20 $30,000 that you that war back home and like being successful, is even higher because of the way the economy is because the dynamics talking about course and higher relative demand for all these things a lot is just like Mommy. Like I months ago stand up first night, everything that you see and funny using a little that I've never seen. So is the country. All knows there's a need for more services. Constance Musician. I've been offend two bands. He runs a school called for Which city makes a little money with music school teachers to get private lessons. And then you place man into around on weekends and show, and he was back home any much for him to make a living as a musician. But here, services are very kind man, and he's a saxophone player. He's not even like a singer, songwriter and guitarist. He just plays the saxophone in a couple different bands. Really good sex player, but he makes a good living doing this. You makes you much more love English teacher, the next just working at full time and just place and even with that goes for they love without school. He was thinking living Eastleigh off justice gifts. And so I give work for you artists out there that may not be struggling that home. And you'd be giving this decree. And so your painter, or you are soldier, You can come over here and do do the little sensitivity and the fact that no extracts and dirt, you know, you make a living doing here through these fat is easy person, you know, artists. And it's not something that you went you in knowing eventually that have, maybe the Mormon arts culture are seen and a lot of French lives up there and a lot of your views of there. And so you might be better in Illinois with a venture but really in place. The artist coming in increasing a little work, a little rto nature of government here that you're a poker player, especially you played over online and that still challenging the U. S. A lot of limit. Us making pasta stuff came Teoh over 10 years ago. It was from, uh when was that playing poker and now arms hear their names and it kind of market right now living in the U. S. Focus of $9000 you really get a match money and stuff like that. But again, you could make that much a lot to make a living. So your poker player look again like games. You play online poker for yourself, Trump. Just another idea. You're into that, I think, definitely can. I know people were going to face the truth. That's just a bunch of poker players over here living playing poker, because easy thing to do relative Teoh back home again. Just a confidence rating is so low that especially the general services and spending, you know, making money online dollars or in euros. Then goes a long way pretty much you can, probably because just set a low bar to clear you. Having a really, really living, although I mentioned $1 does give you a really I stand believe you're running massage off 10 bucks for an hour, on average, as both being $67 state more bigger cities on a literally a couple dollars something I think where you go easy, that Teoh labor. It costs very merry little and just these labor costs, like 1/10 the cost of real estate and food. Maybe like 1/3 80. Do you want to have a nanny Care your kids or you want to have a cleaner in your house being dishes? I mean, that's a special part. Time to $3 an hour for basically, if you have a service or will say help her do for you. It's just amazing things that we couldn't have more. So there's lots of ways to combine you nine years to be stand of the day and basically the old told me I looked over here is because I depend on my bus big enough income to use for family and things that I won't do and much more difficult in the US for all the hoping I go for, because it's really, really create lifestyle and you get a few more ideas here, and then that will be it. Training is holding that really being start. People talking more ban. This are things that I do combined several of the above. A jack of all trades freelancer. It's kind of like what you have is a soul. You're actually because I trained as a teacher. I'm kind of general. I like Theo think giving English lessons, checks lessons. Do the online courses like I like it because I'm video kind of things. That experience, That's just me. I mean, everybody, you know, for someone, little thing, everything. It's up to you. But it's a place where experiment and you can try out different stuff. You can write eagles courses that this one some again for schools earlier. Better finish do that very, very well. The 22 months or so that schools are all that summer. See also England for Thanksgiving or Christmas Baby Spring Break you couple. It's very convinced you and joining us. I think you get the numbers from the schools you get like 50 kids in war camp, you know, for one week now thinking about running a little those there's your in front of the whole year, right? You could spend the rest of the year do what everyone do you know, or or looking these people with their really big engines, off horses, classes. Being a teacher, being a chef, teacher, opening a business coach. That could be another really good one. I have a friend who's really in the cooking is well being. She did. She paid a lot of money for the first time. And that's another shop and a restaurant. You just wanna get less looking less. That's just another idea. There are so many ways that you can do this so that we're gonna wrap lesson you get. Got a confident rule. 16. Lesson 15 Conclusion: we are live in this, um one mind you war way there still a change here 100 years, Frenchy, Excel way they wait and wait Souls. This is the first generation in literally hundreds of years. Well, it s very, very Mrs Time for people to continue. There's no saying along This little road on this level is going to continue for you See, these friends can continue place last for least days Maybe the best time only I say 10 years here May your you get it waas Only 1st 1 is in any town or city in this country you're you see Weather Nation navigate and started off very that way. Way Big City was smooth And so it's just a way to get you know, these friends here knows more difficult, but no sees where English Way The apartments here Watch your a lot of real world dollars Issue a small text see and and wait for me was 10 years change they built and something that you see over here Thetis boom! So we owe you know the way is that most people, because it's just you each warm way with us last year. Here's how you can weigh and then the so and