Weibo English is thundering, who will be next?
Editor’s note: This article is from WeChat public account “Zinc Finance” (ID:xincaijing) author: Zhouxiong Fei.
English training institution Weber English crashed.
According to Zinc Finance, starting from October 10th, Weibo English has experienced different levels of store-going in Beijing, Shanghai, Chengdu, Shenzhen, Nanjing, etc., and the media visited Weibo English in Beijing and Shanghai. On the campus, I found that people had already gone to the building.
Weibo English Tongzhou Store
Weibo English was founded in 1998 and is known as the “Four English Training Four” in China and the United States, EF, and Wall Street.
At present, Weibo Education has opened nearly 200 training campuses in 60 cities across the country. Weber Education publicly stated that its cumulative number of students exceeded 300,000 and did not disclose the number of students enrolled. However, according to the current number of students in some divisions, there are at least tens of thousands of students studying.
Weibo Education
After the current Weibo English violent thunder, although Weibo English said that it will have negotiated with other agencies to accept the program, and completed the filing in the Education Bureau, promised to properly handle the student problem. However, there are still many students who will face the double dilemma of not being able to attend classes and returning money.
Students who choose to pay in installments are faced with the situation of having to continue to repay, and the risk of education staging is once again apparent.
After Weibo English Thunderstorm
According to media reports, at 9:00 pm on October 8, Weibo English International Trade Store will stop operating. On the second day, the agency’s seven stores in Beijing have all stopped operating. At the same time, it appeared in Chengdu and Tianjin.The situation of closing stores in succession.
After the capital chain breaks, many Weibo English employees are unable to get paid. The China Times quoted Weibo English Beijing Guomao store staff as saying that “the salary in August was only more than 2,200, and the salary in September should be hopeless.”
In addition, employees of Weber English Shanghai headquarters reported to the media that the company had arrears of wages for up to two months.
The English training institution mainly collects students and collects tuition fees to make profits. This is not cheap.
Several Chengdu Weibo English learners told the media that the total number of students in Chengdu’s three stores is about 800-1000, and the amount of tuition involved is at least 20 million. Another Shanghai student also told the media that many of Shanghai Weibo’s tuition fees are more than 35,000 yuan.
There are so many tuition fees, why can’t I get the salary of the employees, where are the money going?
In fact, like many educational institutions, Weibo English is also “hot” to expand. In 2006, Weibo English entered Guangzhou, and by 2013, there were already seven branches in Guangzhou. The consultant of the institution, Tu Jingjing, told the media that among the seven branches, the first branch to the second was passed. In a year or two, it has been more open in the past year or two. According to the company’s data, up to now, there are 79 other Weibo English branches under the Shanghai headquarters.
Information about the company affiliated with Shanghai Weibo Education & Training Co., Ltd.
At the same time, under fierce competition, Weibo English also advertised intensively online and offline.
In addition to opening stores and doing marketing, the founders of Weber English have also opened up dozens of companies, all of which require financial support.
According to the data of Tianyue, Weibo English’s main business is Shanghai Weibo Education and Training Co., Ltd., the legal representative is Gao Weiyu, the director and general manager is Gao Zhengyu, Gao Sihai is the vice president, and the three are called in the industry. Gao Jiasan brothers.”
And in this “three brothers”There are 183 companies under the name, among which there are 95 companies under Gao Weiyu, 60 in Gaosihai, and 28 in Gaozhengyu, mostly involving Weibo English-related business. According to Tianxue data, Gao Weiyu is a shareholder in a company called “Shanghai Boya Book Club Ltd.” with an investment ratio of 9.60%.
Gao Weiyu Corporate Relations Network Image from Enterprise Check
Therefore, with the crazy expansion, the large investment in marketing expenses, and the company’s top management to open up more companies, the company’s capital flow is gradually becoming unable to make ends meet.
In order to allow more funds to flow in, Weibo English chose a financial installment loan, and this move also sent many students into the abyss.
Training installment loan “trap”
According to Zin Finance, the price of Weibo English courses is almost 10,000 yuan. The main courses are mainly for adults, most of them are white-collar workers who have already worked. These people have strong ability to pay. , contributed a lot of tuition to Weibo English.
However, with the expansion of the company, there are also many college students or students who graduated from college. In the face of such high tuition fees, there are many students who cannot pay tuition fees in full. At this point, some of Webb English’s course consultants will induce students to pay tuition fees from financial institutions instalments.
There are media reports that financial institutions that cooperate with Weber English include financial institutions such as Xiaomang, Zhaolian Finance, and Jingdong Digital. The instalment products of these financial institutions and Weibo English are 1-2 years, and the average amount is usually around 30,000 yuan. A Weibo English-sponsored financial institution revealed to the media that the total amount involved has exceeded 100 million from the Weibo English store where the problem has been exposed.
According to the Weibo English tuition record provided by many netizens provided by Chengdu Business Daily, only 4 of the 25 students in Chengdu’s stores paid tuition fees, and 12 chose financial installment products. After the trainees confirmed that this is a small sum of money, the number of installment orders accounted for 80%.
