MTL - Rebirth of the Entrepreneurship Era-v2 Chapter 377 Good things keep coming

Not long after the Li Xuan family left, Zhang Aixue, Zhang Chong, Li Nan, and a large group of early employees of Jiayang Education also came to the house to give Xu Yiyang a happy new year.

Zhang Aixue's whole person looked a little more energetic, and Xu Yiyang once doubted whether he had the second spring of feeling again.

Asked in private, the second spring did not, but just talked about the next person who worked in New Oriental a few years ago. The other party has agreed to join Jiayang Education later.

As soon as he heard that New Oriental came out, Xu Yiyang immediately became interested and asked him about the specific situation.

He said that this time I was talking with a middle-class, male, 27-year-old Qingdao from New Oriental.

He was a teacher of New Oriental in the early days. With the continuous development of New Oriental, he also became the head of a branch of New Oriental.

Because he was an only child, his parents were not in good health and he was urging marriage, so he had the idea of ​​staying in Kishima.

He originally wanted to do English training in Qingdao himself, but after a survey, he discovered that Qilu had already had Jiayang Education, a famous English education brand in the province.

So he took the initiative to find someone to match up and met Zhang Aixue.

Zhang Aixue chatted with him twice, not only learned from him some developments of New Oriental, but also reached a cooperation intention with him.

The other party is willing to join Jiayang Education as the deputy general manager and is responsible for participating in the formulation of strategies and the optimization of the management, personnel and model of each branch.

Xu Yiyang is very happy that his current team is not a regular army in the true sense of the training industry, and almost all of them are pulled into the team halfway.

Such an informal team has to explain too much to them, such as the status quo, model and future development space of the training industry.

However, when New Oriental comes out, it is really a regular army. Now that New Oriental has reached the point of annual income of hundreds of millions, the turnover should be about ten times that of Jiayang Education. Therefore, people from New Oriental can not only immediately Keep up with the progress of Jiayang education, and even some links, know more than the current team.

Jiayang Education went down, in the final analysis two words: expansion.

Expansion within the province and expansion outside the province is precisely when talent is needed.

In addition to landing in China Shipping, the expansion in the province is actually very important.

Now Jiayang Education has completed the first step of land occupation in 17 cities across the province. Next, it is saturated occupation.

Landing a new city is actually the hardest thing to do, not only to be familiar with the environment here, but also to form a local team here, gather local promotion resources, and build a reputation locally.

But once the initial landing was completed, the expansion site became very easy.

Now, the 17 branches in the province are all in a saturated state of operation, which means that it is time to engage in fission.

Xu Yiyang set the goal of Quancheng, Qingdao, Yancheng and Linshi, which are relatively large-scale cities with large populations and leading economic development. They directly added two branches to realize the three Jiayang education in the city; Each prefecture-level city has one new city.

In other words, a total of 21 more will be opened in Qilu Province.

Xu Yiyang has calculated the lowest cost of opening a branch in the province. In larger cities, rent, decoration and various hardware facilities are all in place. Five or six hundred thousand is enough to get it. Smaller cities are mainly for rent and decoration. Can save some, about three to four hundred thousand looks.

Therefore, opening 21 branches at a stretch, the pressure of funds is not great.

Anyway, at this stage, the 17 branches of Jiayang Education are already very strong in hematopoiesis, and Xu Yiyang does not need to transfer funds from Jiayang Education for the time being, so it is all used for its own development.

Zhang Aixue got some inspiration from the deputy general manager who was about to join.

So he asked Xu Yiyang two questions, first, whether to raise funds; second, whether to join.

The biggest benefit of financing is that you can quickly get a lot of money, and then complete the expansion and rapid development in the shortest time.

But the shortcomings are also obvious, namely the loss of equity and the cession of future benefits.

The biggest benefit of joining is that it can directly mobilize the power of the whole society to achieve fission.

Not only can you quickly gather a lot of money by joining fees, but you can also bring up dozens of hundreds of branches at once, which continuously supplies blood to the headquarters, but its shortcomings are greater than financing, that is the loss of management rights, and most Profit ceding.

The first thing Xu Yiyang ruled out was joining. Educational institutions engaged in joining, and it was easy to smash the signboard because the franchisees were uncontrollable.

What was subsequently excluded was financing.

Jiayang Education's current revenue capacity is sufficient, and the development speed itself has already been guaranteed to a certain extent. Financing is nothing more than icing on the cake.

However, there are many troubles associated with financing. The biggest problem is that the team is not strong enough.

How much money a team can manage is also a major manifestation of the team's ability.

If there is too much money, and you don’t know how to spend it, it will lead to two situations, either spending it arbitrarily or daring to spend it.

If you spend money indiscriminately, you are likely to take yourself in. Numerous companies have ventured into development. They ran faster than the Rockets in the first half and went bankrupt and went bankrupt in the second half.

As for those who dare not spend it, if they dare not spend it when they get the money, what else should they finance? Does the investee do financial management?

Jiayang Education is now twelve months a year and twelve months are the peak season, and there are three months beyond the peak season, that is to say, the income can be easily reached 60 to 70 million in one year.

With a revenue of 60-70 million, the net profit can be almost half, which is more than 30 million a year.

If according to the basic formula of 10 times PE in the capital circle, that is, 10 times annual net profit, then the current valuation is ten times net profit, which is more than 300 million.

However, 10 times PE is the most basic valuation method. Most popular companies, or companies with relatively fast performance growth, do not look at the 10 times PE. The capital side will give 20 times or even 30 in order to impress them. Times the price of PE.

Xu Yiyang didn't dare to say that at this stage, the growth rate of Jiayang Education is so high that some people have been rushing to invest in 20-fold PEs such as Yanjing and Shanghai.

In that case, the valuation of Jiayang Education should be around 700 million yuan.

If you sacrifice 10% of your shares, then the capital should be invested in cash of 70 million.

70 million is a huge sum of money. Although Zhang Aixue has also built a relatively complete team, in Xu Yiyang's view, the maximum investment scale that this team can control, that is, 10 million is at the top. No matter how many, they can't play at all. turn.

Therefore, the matter of financing should be stabilized first. If it can be developed steadily and quickly without relying on financing, that would be really great!

...

Shen Lele and the other brothers returned to Zhonghai to stay busy after only one week at home.

Only Xu Yiyang stayed at home for ten days.

During these ten days, he received several good news.

The first person who sent him good news was Hu Laohu Bingwen.

Mr. Hu said that he has already read the textbook manuscript given by Xu Yiyang, and his evaluation is four words: outstanding.

At the same time, Hu Lao also helped Xu Yiyang do a little polish.

Xu Yiyang was very happy after being approved by Hu Lao.

He asked Mr. Hu to agree to write a preface for the textbook. At the same time, he added his name in the introduction of the editorial team.

The old man agreed to the signature, but declined the hard work.

As a matter of fact, university professors can't sign the extracurricular tutoring materials casually, at least the school's consent is required.

But fortunately, the old man has retired, so it is not affected by this.

Then the good news was sent to Xu Yiyang, Mr. Ma of Fujitsu.

During this winter vacation, Fujixun has increased its promotion efforts, and with the settlement of mobile settlement, the funds are abundant.

So they took advantage of this wave of vacations to achieve nearly 8 million users, a gratifying growth rate.

More than a month ago, Fujixun, who was in urgent need of financing because he had no money on his account, has now become a rare high-income enterprise among China Internet companies.

Many Internet companies are envious, jealous, and hateful of Fujixun's new profitable business.

In fact, every Internet company wants to be able to embrace the operator's thighs.

But now that mobile Internet access is not yet popular, their own products are still difficult to integrate with operators at this stage, so they can only watch Fujixun make money with mobile QQ.

Tong Fangquan also told Xu Yiyang that as soon as he entered February, the mobile QQ’s 560,000 monthly subscriptions last month reached a renewal rate of 97%, which is currently the highest value-added business retained in the next month in the entire parent company, and far exceeds the second place. Is a product like God;

At the same time, by the favorable promotion of Fujixun's winter vacation, by mid-February, another 260,000 monthly subscription users have been added, and now the total monthly subscription users have exceeded 800,000!

This development rate is really amazing, even faster than Xu Yiyang expected.

Tong Fangquan's wife Chen Xinlin also told Xu Yiyang the good news: Han Han's "Triple Gate" has been rushed through the trial and is ready to start printing at the printing house.

"Triple Gate" first printed 50,000 copies at the start. In private book companies, it is already a relatively bold number. After all, everyone prints tens of thousands of copies to see the market response. If the market sells well, continue to increase. Printed.

But this also has a drawback, that is, after the first printed 8,000 or 10,000 copies are listed, if they are sold well, it will be too late to temporarily add printing, and they will soon be sold out.

After the printing factory here finished printing, it was distributed to bookstores across the country through logistics channels, and piracy was already flying.

Therefore, if the first print of the best-selling book is printed multiple times, it will be able to roll out the market before the piracy is released.

After all, it takes time to respond to pirated books, and then to typeset, print, and distribute, at least one week.

However, the risk of overprinting is also very high.

The first is royalties. If the royalty is 8%, then a book priced at 30 yuan will be charged 2.4 yuan for the manuscript fee. If you start printing 10,000 copies, you will give the author 24,000. If you start printing 100,000 copies, you will have to give the author Two hundred and forty thousand.

If there are too many prints and cannot be sold, the author of the money is non-refundable.

In addition, there are expensive printing costs that cannot be recovered. In the end, there may be 70,000 or 80,000 copies left in the warehouse, and finally only waste paper can be sold.

Therefore, for publishing companies, they would rather give piracy opportunities to minimize their own risks, so the number of first prints is generally more conservative.

After hearing about it, Xu Yiyang said directly to Chen Xinlin: "Aunt Chen, if your company's funds are relatively abundant and you can trust me, then hurry and apply, and the first print will be printed directly on the first 300,000 copies."

"Three hundred thousand?!" Chen Xinlin was taken aback. "So much? I haven't heard of any book that has three hundred thousand copies printed on the first print~www.novelbuddy.com~ Is this a bit too risky? Alright?"

Xu Yiyang said: "It's not risky at all. Han Han now has a lot of student fans in the country. Once his virgin makes a version, fans will definitely buy it, and 300,000 copies will definitely be sold out."

After talking, Xu Yiyang said again: "But if you print the first 50,000 copies and the follow-up books can't keep up with the hot sale, you may be pirated to seize the market. In the end, you can only sell more than 100,000 copies or even less. , Other market shares have been taken away by piracy."

Through her husband's personal experience, Chen Xinlin believed Xu Yiyang's vision very much. Hearing Xu Yiyang's words, after a little thought, she immediately decided: "Okay! Then I will change my application and print the first 300,000 copies!"

Xu Yiyang smiled and said: "If you print 300,000 copies, can Han Han make a lot of money?"

Chen Xinlin said: ""Triple Gate" is priced at 20 yuan, 300,000 copies, he can get 480,000 draft tax, we have paid his 50,000 copies of royalties, a total of 80,000 yuan."

Xu Yiyang said jokingly: "Then you have to tell him that he can make so much money, but I did a lot of help. When I go back, let him invite me to dinner."

Chen Xinlin said busy: "I told him that you are his Bole. He is very grateful to you. He originally said he wanted to find an opportunity to meet you, but he was afraid that you would not take care of him."

Xu Yiyang said with a smile: "Then you can tell him directly, just prepare to invite me to dinner."