what is a business plan for a school

How To Start A School in 2024 Step-by-Step Guide

by Cindy Lumpkin | How to Start a School , Learning

How to Start a Private School

Are you a teacher who is interested in how to start a private school ? Maybe you are a parent or religious group who feels your community needs more options.

If so, you are not alone.

As you are aware, teachers are leaving the field of education like wildfire. But many of them don’t want to quit teaching . 

Instead of abandoning their passion for teaching, some educators are discovering that they can still do what they love—teach—by starting their own schools and educational businesses. 

How do I know? Because I did just that, I started a small private school . I didn’t have a lot of money and no big names were backing me.

I discovered that I could still do what I love and, at the same time, avoid what I hated about the school system: bureaucracy, red tape, testing, and stress . 

It came as a total shock when thousands of people- teachers, and a few parents, found a Youtube video I did explaining how I started my own school . 

They couldn’t believe that a teacher, like them, with little funds and resources, started a school that was fully accredited.

Many of them also asked me if I could share with them how I started my own school.

In this article, I will do just that- step by step. 

I will share the exact things you will need to do in order to start your own school and put you in the BEST position to be successful. 

Most information on starting a school will say that it’s a lengthy, expensive, and complicated process. My experience was different.  

I wouldn’t say it’s easy. It is work! This will be an investment of your time, money, and faith. But it’s totally doable and I want to help you on your journey. 

If you have this limiting belief, put it to rest now. This doesn’t have to be a super expensive proposition, depending on your strategy and how you decide to scale.

I am going to take you step-by-step through what you have to do to start the process of starting a school. 

Please keep in mind, however, that some things will differ by state and you will have to do research on your own in those instances. 

Before you start, take the time to watch the video below. I want you to know why I am giving all this information away…for FREE and why I charge for some products.

Make no mistake about it—this isn’t some bait and switch. Following these steps will help you create the school business of your dreams and you DON’T have to buy anything.

Nevertheless, teachers and others who are ready to take action will eagerly invest because it will save them so much time. 

When you purchase any of my products, you are paying for convenience. 

I couldn’t dare charge for the process because I believe in this movement for every teacher who has been burned out by an unrealistic, outdated school system and for every child who has not benefited from the promise of “No Child Left Behind.”

In addition, this 12-step process that I’ve designed can be used by anyone who wants to open micro-schools, nonaccredited schools, learning pods, and even homeschools.

It will also help with online school programs. 

Just know that depending on what your vision is, some things may or may not need to be done.

This will be a very long article. So I’ve included the steps up front and each step is clickable so that you can find your place more easily.

12 Steps on How to Start a School of Your Dreams

There are twelve steps to take to start a school; however, there are only eleven if you’re not going to get accredited. Here is a complete list:

• Find Community
• Determine Type of School 
• Create An Advisory Board
• Design Your School’s Curriculum
• Requirements To Open A School (Legal/Operational)
• Develop A Fundraising Strategy 
• Create Your Budget And Business Plan
• Address Your Staffing Needs
• Select The Right Facility To Start Your School
• Develop Your School’s Policies and Procedures
• Select an Accrediting Body (Optional)
• Develop a Marketing Plan

As you go through these steps, some will be accompanied by a video. Other times I may point you to another source or even share documents with you. 

As I mentioned above, I may even offer some resources at a small price to take the load off you. However, they are optional and only designed to help you along. 

You can totally do this without buying anything from me.

It would benefit you to watch these videos, however, as they will give more details where writing will not be able to communicate everything.

Before we get started, let me address this search term that I’ve seen way too much.

How To Start A School Without Money

Although there are some strategies you can take to start a school that will not require a lot of funds, one can’t expect to start a school without any money.

Your school is a business. Any serious entrepreneur knows that there will be some type of startup investment cost, even if it’s just for basic business management tools .

However, many of the steps above can be completed without spending anything. 

So, if you are serious, you can start the process to ensure it’s truly something you want to do before making a considerable investment of money. 

There will come a time, however, when you will have to make investments.

If you are someone who is low on funds, I suggest going through all the steps and completing as much as you can. 

Next, I highly suggest that you watch this video to understand and determine where you are in the process of being ready to start a school business.

Now you are ready. Let’s jump in!

How To Start A School Business 

Step 1. find community .

If you truly are determined that you are all in on this process, the first thing I suggest you do is find other people who are taking this journey. 

This is my number-one piece of advice. Still, many will ignore it. Please don’t let it be you. This journey can be so lonely. 

It doesn’t matter if they are across town or out of state. But it is vitally important for several reasons:

• It provides support. Trust me, you will encounter moments of discouragement. Having a community will help you fight feelings of hopelessness that may come on this journey. It can also help celebrate those small victories. It’s one thing to have support from family and friends, but it’s another thing to have it from people who know and understand.
• It provides connection and belonging. Togetherness is so critical to our experience as humans. Connecting with others who share some of our values, interests, and worldviews helps us understand that we are not alone.
• It provides an opportunity for us to share, give back, and learn from one another. Let’s face it, teachers are some of the most giving people there are. It’s in us to want to give back. I believe it’s an innate desire. There is so much I am still learning from the many teachers in our Teacher School Builders Community . For example, people are often finding new, easier, and less expensive ways to do so many things as it relates to creating and running private schools. I can’t possibly keep on top of all the changes. But I come close because of connections who share my ideals.  

Don’t underestimate the importance of finding a crew who understands and who can speak to you wherever you are. 

The networking opportunities among you will prove to be invaluable. Besides, if you have questions about these steps, you can find me in Teacher School Builders (wink). 

I wish I could give you an open invitation to our community. We want to be a safe place for serious, committed, and passionate people interested in taking this journey together.

Only those who invest in any of my products will be invited to join our community. However, you are totally welcome to sign up for my newsletter . 

I’ve been known to give out freebies to those who read and keep up-to-date with my emails. Also, I still give LOTS of helpful resources and value to my list.

Step 2 . Determine what type of school you want.

This step is twofold. I don’t want to assume that we are on the same page, knowing what type of school I am trying to position you to start. Therefore, let me make it clear.

Ideally, one can start a charter school. This is NOT the type of school I help teachers create. 

A charter school is a HUGE undertaking. In addition, it’s expensive and, in some situations, will need to be approved by your local school board. The application is ridiculous too.

We are not even building your typical, well-established, rooted-in-money private school. (It could for sure turn into one.) 

Although what I am helping you to create is technically a private school , you most likely are a one- or two-man team.

Right now, you may not have a lot of resources, but your business structure will be that of a private school. We will talk more about your business structure later.

Thus, for many of you, it will be a micro-school. In other words, a small school that serves generally 5 and upwards of 150 students.

It can be religious or non-religious. Some of you will want a for-profit, while others will choose to start a non-profit. Some of you will take the extra step to become accredited.

If you want to call it a learning pod or homeschool, so be it.

I encourage you to watch this video if you haven’t already. It talks about this more in context. (This video has been on my channel for a while, so you may have seen it.)

Now that we are on the same page, what type of school do you envision? Will it be K–12? How about a middle school or high school only? Who will you serve? 

Plan With The End In Mind

This is the fun part! I am a dreamer and I hope you are too. 

This is where you get to dream up the best school you can imagine to serve your ideal student(s) well.

Maybe you want a day school or virtual program. Is your vision a Montessori or a specialized school for students with learning differences?

It’s ok, create your ideal school on paper. Dream big! 

Your vision may be to one day operate a K-12 program, but you may start off with either elementary, middle, or high. 

You may even start with K-12 in a more modern one-room schoolhouse concept. 

The possibilities are endless. 

I would start with the end from the beginning here. However, actual implementation may be in stages. Again, dream big on paper.

Just know that it’s better to actually start a small school business and grow into your long-range vision of your school. 

The cool part about this is that you are the architect.  

I totally went against the grain and started with high school first. However, I knew from the beginning that I would work with 3rd-12th by the time my dream was fully realized.

Within about two years, I worked my way down to middle school. Eventually, I will start to teach elementary.

Before I walk you through creating your school’s identity, let me take the time to answer a question I get asked A LOT .

But how did you know what type of school to start ?

People often ask me, “How do I arrive at knowing what type of school is needed or wanted?” 

Well, I have two different answers for you to consider. Knowing what school to create can come from what I call a calling and/or a business strategy. 

The business person in me says, “Search for parents who are interested in having an alternative education for their children.”

Survey these parents and maybe even some teachers in the area too. What is it that they want or need for the area?

How are the schools in the area? Are they meeting the needs of all students? If not, where they are not may be an opportunity for you.

My friend and fellow school founder, Tiffany of The Village Schools , realized in her area there was a need for quality Christian schools that were also culturally relevant. She fills the gap.

I have another friend and fellow school founder, ToNya of Kipe Academy , who realized in her area that the local school system wasn’t meeting the needs of students who had learning gaps and learning disabilities very well. 

By focusing her school on strengthening skills, she fills that gap.

A good business move or sound business decision is to start a school that there is demand for in your area. 

Trust me! Just because you build it doesn’t mean that they will come. So you may want to make sure your school is wanted.

On the other hand, I allowed my Call from God to determine the type of school I created . 

I LOVE working with students who learn differently. 

More specifically, I LOVE working with those from middle- and lower-income households who can’t afford the “traditional” private schools but desperately need their flexibility and smaller community where everyone is seen and heard.

I want you to follow your passion, and I want you to succeed too. However, assess the actual need for a school in your area. 

Are the public schools performing well or poorly? Can families in your community afford to pay tuition? 

Depending on where you live, a private school may or may not generate enough interest. Seriously, consider this. 

Knowing what type of school you want will help you decide what type of curriculum you will use later. So it’s important to establish this now.

Don’t worry! Nothing is set in stone; if you need to change it later, you can.

Let’s Create Your School’s Identity

When you are creating your school’s identity, you need to do the following:

• Identify your niche.
• Choose a school name.
• Create your school’s brand

Remember: “Brand is just a perception, and perception will match reality over time.”

When creating your brand, start with the end from the beginning. You don’t want to leave any stone unturned. 

In order to do this, you have to develop a strong brand. Your name matters. Who you are building your school for matters and even colors matter.

It would be too much to help you build the perfect brand here so I am sharing the video I created for teachers who paid to be in my Beta Course to fill this gap. 

By the way, against the advice of many, I decided not to create the course and sell it. It just didn’t feel right. 

Anyway, don’t skip the video!!! Seriously!

It will walk you through questions and things you need to think about to create a solid school identity, including your brand.

In the video, I referenced “homework” and you can find that information here .

I do advise using this resource after watching the video. 

I actually use my school as an example for you to help make the process easier. Allow it to help your creative juices flow.

Step 2 Wrap-up Checklist

This step has really laid the foundation for your school. 

So please, please ensure that you have completed it. It will only make it harder later on if you don’t. 

The information will eventually build on each other. Much of the information in this step will be needed for other areas later on. 

If you do it now and do it right, I PROMISE it will make it easier when you are developing your business plan, applying for grants, and getting your marketing materials together.

Ensure that you have done the following:

• Did you read this entire section?
• Did you watch the entire video?
• Did you access the “homework” mentioned in the video? Click here!
• Did you leave no stone unturned? 

Great! We are ready for the next step. It’s a process, I know, but if you are one of the few who actually do the work, you will eventually have yourself a school.

Step 3. Create an advisory board

Please understand the difference between an advisory board and a community, as I discussed above in step one. 

Many of you, like me, are the visionaries of your school. You are the founder. We need to be in a community with each other but we also need other people to help carry out our vision.

When you form your board, you will seek people who support your vision. 

They will hopefully use their gifts and talents to help you achieve your vision for the school. 

This group will empower you. But they will have less stack in your business. Most likely, they will not see the daily ends and outs.

Who are the ideal people you need on your advisory board? 

I would ask a few parents and other influential people in the community. 

It would be great if they had a heart for education or young people. However, they don’t have to. But they need to have skills that will help you develop your school business.

I would ask members of your community who have financial, legal, management, and building experience. 

You can ask people who are on the boards of other foundations or people who work for these foundations. 

Why? Because they know what you don’t know. Or, they know the people you don’t know but need to know.

Connections are key. One of these people could very well connect you to a resource that you will need. You are always one connection away from what you need.

This group can become the core of your first board of directors. We will talk about this later. 

In the meantime, an advisory board can give you advice in their specific areas of expertise. 

They can provide feedback as you make decisions about your school and help you navigate legal and technical things.

Reaching Out To Get Your Advisors On Board

Now you should know exactly who you potentially want on your advisory board. 

It’s time to reach out to them and make the BIG ask. 

Do you remember the work you did in step two? Now you will be using some of it.

Although I call this the BIG ask, it’s not what you think. Don’t ask them for their skill set or money just yet.

You want to invite them to a meeting to learn more about your school and how they can be on your board of advisors. 

There are several ways to do this. Just select the way that is more comfortable for you or more appropriate for the way you may or may not know the person. 

Send an email, make a phone call, or invite them to lunch.

Before doing so, you will want to create a one-pager. 

Using the information from step two , describe your mission and the need for your school. Don’t forget a short introduction of yourself. Make it compelling . 

You want to make it as short as possible. People don’t like to read anymore. 

Do make it long enough, however, to explain this awesome endeavor you are embarking on that will benefit the community.

Please DO NOT overload them with all the information from step two. 

Just give enough to get to a group in-person or Zoom meeting where you will go into more detail about your school and your vision for it.

It will be at this meeting where you will talk more about why they are needed and invite them to use their skill and wisdom to help you complete the process of building your school.

If they are interested, be sure that you get a commitment of time,  financial support, or their skills donated to your organization. 

If you are a non-profit or going to become one, their donation(s) of time and money may become a write-off for them.

Step 3 Wrap-up Checklist of How To Start A Private School

Completing this step will save you time and money. TRUST me! People always want to help a good cause. You just need to find the ones that do and make the Big Ask .

Before moving on, ensure you have done the following:

• Watched the video .
• Created a list of idea advisors 
• Reached out to this group
• Set your meeting date to cast your vision and get them on board 

Step 4 Design Your School’s Curriculum

“In America, we have 19th-century school conditions and a curriculum that prepares our kids for the 1990s.” 

These words were spoken by Heidi Hayes Jacobs and there has never been anything stated that was truer. 

I am convinced that the curriculum/standards (pacing) are a huge part of why children are not learning as they should and why well-meaning teachers are pulling their hair out.

I will actually link another video from our Beta Class that will go into this subject in detail below.

However, here is where you have the opportunity to be very innovative and create a program that will truly speak to the type of school you are building.

Understand that you don’t have to use the same curriculums that you used in public education. In fact, I warn against it- at least in some instances. 

Instead, truly use things that will support your learners and would further your school’s mission.

Some people develop their own curriculum, if this isn’t your wheelhouse, don’t do it. It can be more headache than it’s worth.

I use a variety of things. I go into detail in the video below.

Step 4  Wrap-up Checklist of How To Start A Private School

• Study the curriculum requirements of starting a school for your state.
• Create a one-pager of your curriculum.
• Start the process of creating a course catalog, especially if you are doing high school.
• Research learning and management systems. 

Step 5 Requirements To Open A School (Legal or Operational)  

Another key step is to determine what your business structure will be. Will you be a sole proprietor? 

I do not recommend this. It’s best to put separation between you and the school.

With that said, you will most likely be a limited liability company or a partnership if someone is working with you. There is also the option of being a non-profit. 

File incorporation papers with your Secretary of State. You can have your business formation done for you accurately, quickly, and affordably for convenience.

The lawyer on your advisory board, if you have been able to get one, should be able to handle this for you or point you in the right direction to someone who can. 

If you have to do it on your own, it’s not hard. I filed on my own, howbeit I had to make a few changes to the amendments, but I got it done.

There are costs associated with the filing, but nothing outrageous. But if you do have a lawyer on your team, he or she could donate their legal services to the cause.

For Profit or Non-Profit

Deciding for or against a nonprofit is critical. As a nonprofit, it’s much easier to fundraise. People will give money much more readily to a legal entity or institution as opposed to a person. 

If you decide to establish your own proprietary school, you will be on your own when it comes to raising money.

If you do decide on the nonprofit, you will have to apply for tax-exempt 501(c)(3) status from the IRS. 

This is a process. For your sake, I hope your lawyer can handle this application. I actually hired someone to do mine. Money well spent, as I didn’t have time to learn that process. 

No matter who does it, submit it as early in the process as you can so that you can begin to solicit tax-deductible contributions. 

People and businesses will definitely take your fundraising efforts much more favorably if you are a recognized tax-exempt organization.

Tax-exempt status might also help with local taxes. Check your individual state.

I go into more detail as well as discuss other legal requirements in the video below:

Video Coming

Advertising Disclosure: A few links in this article may contain affiliate links. I earn a small amount of commission if you decide to go with my recommendation at NO COST to you. I recommend services that I trust and that is why there are very few in my articles. Funds are used to continue to grow my micro-school.

Step 5  Wrap-up Checklist of How To Start A Private School

• Study the requirements of starting a school for your state.
• Watch the video I did for my beta class on this topic.
• Read this detailed post I wrote to help you understand your options for a business structure and get your business formation done at an affordable rate.
• Optional: Coming Soon…

Step 6 Funding Options Develop A Fundraising Strategy 

Most of your school’s income will come from tuition at the beginning. Of course, this is outside of your start-up cost. 

I have plans to develop a mini course that will guide you through thinking about different funding options. Let me know in the comments if you might be interested.

It will cover grants (some you don’t have to be a nonprofit to get) and cost-effective strategies you can use when starting with a lower budget. 

In fact, read this article on the best business management tools I use. Omella allows me to collect 100% of my tuition without ANY platform or transaction fees.

Nevertheless, you will need a well-thought-out plan of how you will generate money from multiple streams.

Sorry, bake sales and car washes are not going to cut the mustard. Although they may still have their place, you will not have enough students to make something like that successful.

Developing A Fundraising Strategy 

You need a strategic fundraising plan. Ideally, you and the team can work together to come up with a well-thought-out, creative plan that will work for your specific school.

At Triumph School , we love to include the kids. We like to show them off. So we hosted a Nightmare on Main Street , which was a haunted schoolhouse in the month of October. 

Here is how we did it:

Although I wasn’t as strategic when we did Nightmare on Main Street, it was still a huge success in terms of the overall impact on our students’ learning. Also, did I mention we raised a little over $1K?

For fundraisers we completed after that, we tried to be more purposeful and strategic by actually creating a plan beforehand. 

What to Include in Your Plan

Over at Donor Box , they identified the following steps as a starting point for creating a strategic plan:

• Include your mission
• Create objectives
• Build a team
• Find funding options for different donor types
• Use new marketing techniques
• Research campaigns by others
• Start online fundraising 

Including well-planned appeals to foundations and local philanthropists in your plan can pay off. If you can afford it, I would hire a professional to help write proposals and identify donors. 

These documents are the gifts that keep on giving because you can use them over and over again.  

If you do have to change them, it would only be small things. Nevertheless, you will use them over and over again. 

A well-thought-out and implemented plan can pay off big time.  

However, I totally wrote my first few grants myself. Triumph has been awarded over $200K on my efforts alone.

I am just starting to seek “professional” help because it can be time-consuming. 

I hope that passing it on to someone who is more knowledgeable will help in the long run with getting more money and causing me fewer gray hairs.

Nevertheless, not only can a well-thought-out plan help you meet your fundraising goals, but it can also help you build a deeper connection with your donors.

The Village Schools

Establishing a connection with your donors is powerful. To give you an example, I donated to The Village Schools because I just love the founder and her vision and mission. 

About five days after making my online donation, I got a package in the mail. It was from The Village Schools. 

Inside the package was a little stuffed animal with the following written on his shirt, “Thanks for being a friend of The Village Schools. 

She hooked me! I felt so important and like a friend …I felt a connection. It most likely will not be my last time donating. 

Nevertheless, she wants everyone to walk away feeling like I did. 

It’s part of her strategic fundraising plan. She also included a handwritten letter. This is also part of her plan. Super creative!

I learned all this the hard way and one of the hardest lessons I learned was building long-term relationships with donors.

They gave a donation; I said thanks and that was it. In the beginning, I had no way to keep track of them and follow up with them. 

Now I know better! I update my donors every so often on new and exciting things we are doing and/or the latest progress with our students. 

I send birthday greetings, I was just thinking of you or anything to let them know I value them and not just the check they write.

In order to do this, I needed an easy way to store their information to make it easy to send these updates. That is where Donor Box comes in.

You can research it yourself; however, it has been the lowest cost management plan I’ve found to date to easily accept donations and keep up with my donors. 

There are no contracts and no set-up fees. You can ask your donors to pay the fees and when they do, it costs you nothing. It is also really easy to use.

Step 6  Wrap-up Checklist of How To Start A Private School

• Book recommendation- The Little Book of Gold – This is an amazing book and although it’s geared to nonprofits the information can be used by any educational business.
• Create a fundraising plan. To see how this looks when actually applied to a fundraising event watch this video.  **Video Coming Soon….
• Research Donor Box and set up an account (no contracts or fees to set up) and start asking for donations.
• Determine if the mini-course (Coming Soon) can help you by shortening your learning curve.

UPDATE: I just discovered Give Lively , and I am still researching it; however, I am now realizing that although Donor Box advertises a “free” version, it charges a platform and processing fee.

However, Give Lively only has the processing fee. Now, Give Lively isn’t a CRM whereas Donor Box does act as one.

Step 7: Create Your Budget And Private School Business Plan

Don’t stress! You got this and I am here to help.

Guess what else? You will pull some of the information you completed in step two to help you complete this document.

Can you see how this is all coming together now? I sure hope so. Moving on… 

A business plan is important because it will serve as your blueprint for how your school is going to operate. 

However, it doesn’t have to be perfect nor do I believe you have to outsource this, at least not right now.

The reason why I don’t feel it’s a life-or-death document at this point is that I wouldn’t recommend getting a loan. But I do recommend you put one together. 

People will take you more seriously as you work to establish your first board. 

Your plan will show how well-prepared you are. It can also keep you focused as you cast your vision to the community as well as others from whom you seek support.

In addition, this would be a great project to lead your advisory board through. 

It would be awesome to have someone on your advisory board who is an expert who could actually complete this or take the lead on leading your advisory board through completing one. 

If not, no worries! 

I have an excellent resource for you that will help you put yours together with all the components you will need right now.  

School Business Plan Sample PDF Template

If you are in need of a private school business plan (PDF) template that will guide you with instructions to create your own school business plan please consider supporting me by purchasing here .

My private school business plan sample template has it all outlined for you with instructions on what to put in each section. 

If you are interested, you can purchase the business plan template or you can purchase both the template and budget template, which you will read more about below. 

Create Your Budget  

Great news here! If you do your business plan well enough this will be done. 

However, you should still read this first. 

The budget which is part of the business plan is extremely important. I don’t want to minimize this.

When I developed my budget, I focused on 3 years operating budget. You can do the same or focus on one year at a time.

I was very detailed with my expenses and income projections. 

I feel like you are a little tired of me talking about this advisory board, but the financial person on your advisory board should be responsible for developing this critical document. 

So hopefully you have someone in mind for this. If not, my template you time. 

In fact, even if you had someone create it, it will still save them time on researching line items that will need to be included.  

As you project your assumptions about income from tuition, fundraising, and grants, be conservative. Factor in some wriggle room in case things don’t go as planned.

I separated expenditures into three categories. I’ve seen some that only do two. 

If you are in need of a budget that lists everything you will need starting out and in the future, please consider supporting me by purchasing my template ***Coming soon…

Step 7  Wrap-up Checklist of How To Start A Private School

Video Coming Soon….

• Business Plan PDF Template

Step 8: Addressing Your Staffing Needs

You are most likely starting small. I still suggest laying the groundwork for when you are ready to hire staff.

I also suggest avoiding being the one-man show. This may mean you have someone part-time or, better yet, a volunteer who can give you a few hours a week.

Will You Be Head of School?

I have assumed that you will be the Head of the School. If you are not going to be the one who will run day-to-day operations, I suggest you identify someone soon.

It is critical to attract skilled faculty and your Head of School should be involved in that process. 

So, if this person isn’t you, identify them as soon as possible.

Start by writing job descriptions for the Head of School position. Do the same for faculty positions. 

These descriptions should be specific to your vision/mission and the type of school you are creating.

I recommend that you look for self-starters who enjoy building something from scratch. 

Ideally, most will shoot for certified instructors, but in many states, they don’t have to be. 

I have hired amazing certified and non-certified teachers and some not-so-amazing of them both.

Please understand that a certified teacher doesn’t equate to an excellent teacher and a non-certified teacher doesn’t equate to a bad one or one who isn’t as good.

The question you should be asking is, “What Makes an Effective Teacher?” Hire effective teachers. Click on Effective Teachers in Microschools , to learn what to look for in your staff.

One way to attract great employees and volunteers is to sell them on the vision of your school. 

If your school is filling an identifiable need in the community, people will love the opportunity to be a solution.

You may be worried about paying competitive compensation. It can be an issue, but I also think there are many people who like the idea of flexibility. 

I also think retirees are a good group that goes untapped for volunteer and paid part-time positions.

Watch the video below to find out how and where to get volunteers, leads on where to find potential teachers for paid positions, and determine what staff may look like for future growth.

In addition, as a bonus in the upcoming mini-funding course, I will create and share several affordable ways you can incorporate certified teachers without breaking the bank and models to attract talented staff.

Step 9: Select The Right Facility To Start Your School

Step 10: develop your school’s policies and procedures, step 11: select an accrediting body (optional), step 12: develop a marketing plan.

You can’t afford to get this wrong. Many times we think we can just build it and they will come. Well, that is NOT true. Not by a long shot. 

You have to promote, promote and promote some more.

A marketing plan includes all your school’s marketing goals and objectives combined into a single comprehensive plan. 

If you’ve developed your business plan already, much of that information can be pulled from there. 

The plan will include detailed information on how it’s going to achieve its marketing goals. 

Part of that plan could be advertising for students using billboards and using ads on social media. 

Designing a website and setting up a mailing list to keep interested parents and even current parents informed should also be part of the plan. 

The website doesn’t have to be expensive. You could do it yourself. I would suggest having a blog attached to your website too.  

The best marketing is FREE and a blog can help you get in Google’s search engine. Too much to go into here, but maybe one day soon I’ll create a video to explain more.

Having a mailing list is essential. I use Convert Kit because they have a free plan for up to 1,000 emails. I’ve used MailChimp in the past, but it’s too complicated for me.

Using Convert Kit, allows me to send monthly newsletters easily. 

You want to keep your parents and potential parents updated with what’s going on in your school, especially those parents who are on the fence about your school.

I’ve had parents “date” me for an entire year before enrolling their child. But what convinced them, in the end, was all the success stories in my newsletters. 

Having a mailing list just makes it so much easier. Convert Kit does a lot of awesome things too. You can great landing pages too and more.   

Marketing is one of those things where you need to be consistent. You may not see any results from your labor immediately, but it does pay off. 

It can be expensive, but it’s more expensive NOT to have a plan and not follow it. You have to be creative to get it all done.

I believe in working smarter, not harder. I created a marketing presentation. Unfortunately, I have yet to do a complete “professional” marketing plan.

However, with the information in my business plan and my marketing presentation , I am good for right now. But, I am always improving my knowledge of the marketing process.

I recently wrote an article that will help you increase your enrollment. Read Small School Marketing Strategies for 11 of the best strategies for small schools.

Anyway, I like the way the marketing presentation is laid out. It’s not a lot of reading, which most people don’t like to read. 

I use it in live presentations and I actually send this to people when I am trying to get sponsorships, backing from small community businesses, and recruiting board members. 

If you are interested, you can find it here . Right now it’s a PDF, but in the future, I will make it so that you can customize it to fit your brand. With the PDF version, you will still get to see the same strategies I use to market my school and the key points donors want to know. 

Congrats!!!! You’ve Done It- Well A Lot Of It

**If this has been helpful, please consider giving me a tip . It helps me to be able to continue to devote time to giving away free content. Click here! **

Wrap-up how to start a school .

At the beginning of this article, I promised I would share steps on how to start a school. I identified and went into detail on the following steps:

• Determine Type Of School
• Design Your School Curriculum
• Funding Options
• Develop Your School’s Policies And Procedures
• Select An Accrediting Body (OPTIONAL)
• Develop A Marketing Plan

This process can seem overwhelming. It looks more intimidating than it really is. 

I tried to beat the horse over the head with the different members you may consider for your advisory board. 

Unfortunately, I personally did these steps by myself. However, I would NOT recommend you do that. In fact, I am going back now to try to establish a solid board. 

Your success will be greater as you get others to buy into your vision EARLY. 

So, take the time needed to sell your advisory board, parents, community, and staff on the school’s vision.

Lastly, if this article has been helpful, please let me know below with a comment and share it with ALL the teachers you know who are interested in starting their very own school business. 

Also, here is a complete list of the products I have for sale. 

Remember, these are to cut your learning curve so that you can get through this process faster. However, I am always appreciative of your support when you invest in my products.

List of products: More Coming Soon….

• Marketing Presentation PDF
• Business Plan Template PDF
• School Identity Homework PDF

I hope this was helpful. If you don’t know me, you can learn a little more h ere .

61 Comments

This was some GREAT information! Thank you Cindy! I will be sharing this with my colleagues

Thank you and please do. My goal is to be a wealth of information for anyone wishing to embark upon this journey.

Thank you for taking the time to write this out. This is extremely helpful for me to keep what you have learned and tried already as my base line.

I’m interested

Amazing, I am interested and it’s really helpful for me.

Happy I can be of help!!!

I am thrilled by your start.

Thank you!!!

I want to build my school

Go for it!!!

I have just completed a 8000 word true story regarding why we started our own Afterschool Program that ran for 20 years and brought in hundreds of thousands of dollars in Grant Money in Jersey City, New Jersey. This program ran for over twenty years and serviced hundreds of minority children. In New Jersey there is money available from both State and Federal sources if you are a Registered Non-Profit Corporation and have the guts to apply and operate the project. If interested on how we did it get in touch with me at [email protected] and I’ll send along my true story.

We started this project because several teachers were removed from the Bd. of Ed. afterschool jobs and replaced with ‘favorite sons’ so to speak. We moved on and they failed.

This is wonderful. I would love to hear your story.

Cindy, I just came across this great information by chance. Thank you so much for sharing.

You are so welcome. I see that you are Rev. David Chanda. By chance are you looking to start a school via your church? I personally believe that there is a gap in education that the Church could help fill for kids via microschools. I would love to hear your vision if you are interested in starting a school. My I reach out?

You are so welcome.

I discovered you on YouTube because I started my own Non-Profit/ Private School 15 years ago and it’s going great. I’m currently expanding and deciding to invest in a building. I’m also trying to decide to I want to switch to charter school or public school to get the funding to help the students to attend the school if they do not have the funding. Your video is very helpful. Keep up the work.

Thank you and what is your school name? Do you have a website or social media platform where I can connect? Charter might be a little work, but it is worth it to get the funding. I would just need a team of people and I am not there yet. Also, does your state have school choice voucher programs? I get funding from this.

Hey Cindy. I came on again to refresh myself so I can be better prepared to respond to the group you created. Thank you for sharing your expertise free. If a school builder follows the knowledge you have shared, I have no doubt they will be successful. You have provided some real hope to some educators that desire to be school builders. As we know, the pandemic has magnified the need for parents to have choices. To me educating a child should not be the same for every child. It is not like everyone wears the same size shoe. I am an advocate for “choice” in education. For too long, public education has been the dominant choice. There are so many other entities to consider such as private school, homeschool, micro school, co op schools/programs, charter schools, hybrid schools and more. Again thank you for this valuable resource that makes the journey of becoming a school builder possible. I am a cheerleader for life.

Awww… such an encouraging post for me and it lets me know I am on the right track for what’s next. This article will be updated even more within the next two to three weeks. Sign up for the newsletter and I will announce it there. But the videos I did for the Beta course back in the spring will be released…for free. At the end of the day, I am not a sales person, I am a teacher who believes in this wave of choice and even more for teachers starting their own small schools. I know how passionate I am about education, but how ineffective I felt I was in the system. My kids are so much better off in my small school than they ever were in public schools. All teachers desire the opportunity to be their best and educate kids the way they need it to be their best. Thanks for your kind words.

Powerful information. Am now good to go. I can see clearly now where I want to go

Thank you!! I am happy it has helped!!

Thank you for all of this information. I definitely will be using the steps to start planning my dream school.

Good luck!!! You got this.

My wife asked me to assist her with her idea of building a boarding school that will focus on leadership and entrepreneurship here in South Africa. The school will accommodate 90% of paying learners and 10% non-paying learners from poor families.

This is amazing!!! I hope all goes well and that this helps!

I am a 55 year old missionary in Zambia, Africa. I taught school in the states for ten years.

I am building a private Christian School by faith in “the bush” with no electricity and a hand pump for water. I am currently conducting classes in two small classrooms at the back of a church. The village where I stay has approximately 400 families; a good manageable amount of children for a small rural school. I believe, we will eventually become a boarding school, but we have to walk one step at a time.

I truly believe God is going to send the provision for us to build a k-12 school this year. 🙂

Sizwe Mkhaliphi, can you give me any advice?

Our students are 100 percent supported by sponsors. I have been begging my friends and family back home to support a child at 150.00 per year so that I can finance the project until we can establish a cotton patch and a cloth factory for the villagers to make the school dependent on the business. There are so few opportunities in the bush for employment and I believe this will greatly increase the lives of all the villagers.

Thanks for taking time to read. God bless. Susan Stout

This is awesome!! I will add my prayers of agreement. Do you have any social media platforms I can follow?

Very informative . But please is it advisable to start a school while you still have a job or for an effective start you need to quiet the job, or can you partner someone to start whiles you still keep your job?

I am ALL for partnering, period!! Here is the thing, you can plan your school and get everything in place while you are working. One of the teachers in my group has done just that. She started last January and this is her last year teaching in public school. She was very intentional about putting everything in place while she was still working; however, when she opens doors this coming school year she would have resigned from her teacher position. Of course, if you wanted to have students someone would need to be there to teach them. So, if not you are still working and would like to open you would have to have someone there. I don’t think it much matter, it generally depends on your situation. Hope this helps!!

Hi I was reading your article about starting your own private school and it said there were some things we could buy that would make the process easier for us, however I couldn’t find where those items were. I am super interested in buying anything that will help make the process of starting a school easier for me. Please let me know thank you

Hello Kahley, I hope all is well. So, yes; however, the article and some of those products are still in progress. However, I do have some ready. They are actually linked in the blog. The process is all written in the blog and the free checklist will help. Before buying anything, I would go through step by step and complete the steps and buy once you get to that point. If you need coaching, I might be doing that later on. The demand right now is just to great. If you have questions, list them here and I will do my best to answer them if I can do so via responding back. Here is what I have so far:The check list is free: https://subscribe.theldcoach.com/sign-up

The school business plan: https://subscribe.theldcoach.com/products/school-business-plan

The marketing plan: https://subscribe.theldcoach.com/products/marketing-presentation-pitch

Links to these are all in the blog.

I like to open my computer school for children. Where should i start and register. I have computer qualification and i want to pass to the coming generation. Must i start at department of education? Then for certificate where must i consult to show that they passed

The first one

Read the article, it should give you direction.

Great advice.

Thank you!!

I am in the process of opening a school in africa,. I truelly find courage and inspiration in you article

Please keep me posted. I would love to follow any social media platforms you have.

Hi I learned a lot and I like to open a school like after care to help them with homeworks Because some children they are slow ,I will like to help them so that they must enjoy school .

Yes!! Like a learning center. i encourage you to do it. Parents are looking for places like this. We are getting ready to start-up our TRIUMPH after-school tutoring program in the fall. We will tutor reading and math and do homework help.

How can I speak to you further? I would love to open my own private school for my community. I already own a childcare center

Danielle that is wonderful. I love to hear this and it will be an easy transition. I no longer have the capacity to speak with everyone individually. I do try to answer people’s questions on my videos and this blog when I see it. I am also activate on my Facebook page Cindy Lumpkin, The LD Coach. Join my newsletter and I will start doing pop-up Zooms. But I can’t promise when it will be.

I’m glad to hear information about new opportunities. I like to find out if you can assist though I’m in South Africa

Hi, I am sorry. However, I only know how things work in the US with starting a school.

I am so excited about beginning this journey of starting my own school. I have ideas but having someone guide you through the process is exciting. I have been a certified teacher for almost twenty years. I have a Master’s in Elementary Education and Administration and Supervision. I have been through a Leadership Academy. However, I don’t want to work for a district, I want to create my own educational business. I have prayed about this for a few years, but I have been hesitant about stepping out of my comfort zone. I feel that now is the time.

Go for it!!!! You will do an amazing job.

Hi Cindy This is a great inspiration not just for teachers but for us homeschooling moms and dads. I would love to share my story and get some feedback from you. I live in Massachusetts so the Private school rules are a bit more flexible.

Sorry it has taken me so long. I would love to hear your story!!!

Hi Cindy I am interested in this as business but the interest is to start university now starting from uniform school that will feed the university

Amazing idea!!! I use to want a university too, but focusing with my k-12 until is stable without me.

This is very helpful. Will definitely follow it and adapt to my environment here in Africa

Awesome!!! I don’t know the specifics, but yes there is a lot of general information you can use to open a wonderful school in Africa. Please keep me posted on your progress.

Wonderful!!! Let me know of other things that I can help you with, especially if I can write about it.

Great ideas for those who desire to create school and currently in education bussiness. Thank you!

You are so welcome!!!

Hello Cindy, So I read this book called Explorer Academy and I thought to myself wow I wish there was a school like that. So I decided to make that school real. This post was very helpful to me and I hope someday someone gets famous for what they accomplished at my school.

Sincerely, Joe

As the eternal optimist that I am, I believe it will happen. What is your school’s website? I love learning about other programs.

How can I get in touch with you.

After finding you on YouTube I am very much motivated to start a small private school. This is my email address and I would like to buy the sample of your business plan and others. Email: [email protected]

Am happy to hear form you soon.

Thank you. Miss. Kiniye Lepi

Hello, I don’t have my personal plan for sale; however, their is a link to a business plan template with complete directions for each part.

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How to Write Schools Business Plan? Guide & Template

In today’s dynamic educational landscape, running a school isn’t just about providing quality education; it’s also about managing resources efficiently and ensuring sustainable growth. A well-thought-out business plan is the cornerstone of any successful educational institution. In this article, we’ll delve into the nuances of creating an effective schools business plan, exploring its importance, the funding avenues available, and the advantages it offers.

Download Now => Free School Business Plan Template

What is a Schools Business Plan?

A schools business plan is a strategic document outlining the objectives, operational structure, financial forecasts, and growth strategies for an educational institution. It serves as a roadmap, guiding administrators, investors, and stakeholders on the path towards achieving educational excellence and financial sustainability.

Why Do You Need a Business Plan for a Schools?

Strategic Direction: A business plan helps define the school’s mission, vision, and core values, providing clarity on its purpose and direction. Financial Planning: It facilitates financial forecasting and budgeting, ensuring prudent resource allocation and long-term financial stability. Risk Management: By identifying potential risks and challenges, a business plan enables proactive mitigation strategies, safeguarding the institution’s interests. Accountability: It fosters accountability among stakeholders by clearly articulating roles, responsibilities, and performance metrics.

Source of Funding for Schools Business

Funding a schools business can be sourced from various avenues, including:

• Government Grants: Funding allocated by governmental bodies for education.
• Private Investors: Individuals or organizations investing in the school.
• Tuition Fees: Revenue generated from student tuition and fees.
• Fundraising Events: Organizing events to raise funds from the community.
• Corporate Sponsorship: Partnering with businesses for financial support.

How to Write a Schools Business Plan?

Creating a schools business plan involves the following steps:

• Executive Summary: Provide a concise overview of the institution’s mission, objectives, and key strategies.
• Market Analysis: Evaluate the competitive landscape, target demographics, and demand for educational services.
• Operational Plan: Outline the organizational structure, staffing requirements, and day-to-day operations.
• Financial Projections: Prepare detailed financial forecasts, including income statements, balance sheets, and cash flow statements.
• Marketing Strategy: Define promotional tactics to attract students, engage parents, and enhance the school’s reputation.
• Risk Management: Identify potential risks and develop contingency plans to mitigate them.

Advantages of Starting a Schools Business

• Fulfillment of Educational Needs: Contributing to the community by providing quality education and fostering intellectual growth.
• Financial Sustainability: Generating revenue streams that support the institution’s growth and development.
• Autonomy and Flexibility: Having the freedom to innovate and adapt to changing educational trends and student needs.
• Positive Impact: Making a difference in the lives of students, families, and society at large by nurturing future leaders and citizens.

In the competitive landscape of education, a well-crafted schools business plan is indispensable for achieving sustainable growth and excellence. By outlining clear objectives, securing funding, and implementing effective strategies, educational institutions can not only thrive but also make a lasting impact on the community and future generations.

Schools Business Plan FAQs

How do I write a business plan for a private school?

To write a business plan for a private school, include an overview of your educational philosophy and curriculum, student demographic and market projections, competitor landscape and how you’ll differentiate, multi-year financial forecasts and capital requirements, ownership structure, leadership team and governance plans.

How do I write a business proposal for school?

Key elements to cover in a school business proposal are the student needs your model addresses, specifics of your academic program and curriculum, introductions to school leadership and operations team, projected expenses and revenue tied to student enrollment forecasts, key performance indicators to evaluate success.

How do you write an academic business plan?

When developing an academic-focused business plan include your credentials, educational programming details and research support, target student profiles tied to curriculum, how instruction will be delivered and assessed for quality, staffing requirements for growth, and enrollment expansion plans driving budget forecasts.

How long does it take to write a school business plan?

A thorough school business plan containing all key components like market sizing, competitor benchmarking, leadership overviews, detailed financial models factoring expenses like staffing, facilities and materials can typically take between 50–200 hours to thoughtfully write and refine.

Written by Ivan Smith

Hello, I'm Ivan Smith, a graduate with a Bachelor of Business Administration in Marketing. Currently, I'm actively engaged in practicing business plan writing.

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School Business Plan Template

Written by Dave Lavinsky

School Business Plan

You’ve come to the right place to create your school business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their schools.

Sample Private School Business Plan

Below is a school business plan template to help you create each section of your own education business plan.

Executive Summary

Business overview.

Southside Academy, located in St. Paul, Minnesota, is a private school that has been providing quality education to the community’s school children since 2017. Southside Academy teaches elementary, middle school, and high school students in a wide range of subjects including mathematics, science, and history. We aim to provide a welcoming and inviting environment where every student can reach their highest potential.

We promote academic, artistic, and athletic excellence in a close-knit learning environment, with a challenging curriculum that cultivates intellectual curiosity. Furthermore, we offer a low teacher-to-child ratio, where teachers can build close connections with their students as they help them excel. We develop confident, continual learners by establishing behavioral supports and the social culture needed for students to achieve social, emotional, and academic success.

Service Offering

Southside Academy offers a premium private education at an affordable tuition fee. We provide a challenging education where students can explore their true potential and a safe space where they can freely discover and express themselves. Our students range from 1st grade to 12th grade and we teach a wide variety of subjects including:

• Basic Mathematics
• Physical Education

Customer Focus

Southside Academy primarily serves families within a 5-mile radius of the school’s location. The area is home to thousands of middle and upper-class families looking for high-quality education for their children. Before the school was built, the area was underserved and many children had to travel far to attend quality private schools.

Management Team

Southside Academy’s founder is Mike Brown who has been working as a teacher for more than 20 years. Mike has taught at several public schools in the region but saw a great demand for private education. He noticed that the current location of the school was underserved and set out to create a school to serve this population. Mike Brown has successfully led Southside Academy as its principal since the school’s inception and will continue to do so for the foreseeable future.

Mike Brown is supported by a team that has experience teaching students, managing finances, and running businesses. Specifically, our team has solid experience in being effective teachers, connecting to different types of students, and achieving key goals.

Success Factors

Southside Academy is able to achieve success by offering the following competitive advantages:

• Location: Southside Academy’s location is near the center of town, giving members of our community easy access for parents and their children.
• Passionate and Skillful Teachers: Southside Academy hires teachers with strong academic backgrounds who are skillful in handling all types of children.
• Low teacher-to-student ratio: We provide a low teacher-to-student ratio so that every student gets personal attention from teachers to reach their highest potential.
• Affordable, quality education: Most of the schools in the area offer their services at a very expensive price. Our fees will be moderately low so that good education is accessible to all families.

Financial Highlights

Southside Academy is currently seeking additional donations of $600,000 in order to fulfill our mission. The breakdown of the funding may be seen below:

• Salaries: $200,000
• School Materials (books, toys, desks, chairs, etc): $180,000
• Administrative Expenses: $120,000 to pay for lease costs, ongoing operational expenses, and marketing.
• Working capital: $100,000

The following graph below outlines the pro forma financial projections for Southside Academy.

Company Overview

Who is southside academy, southside academy’s history.

Southside Academy started as an idea from a group of school teachers, including Mike Brown. The teachers were university pals who are passionate about teaching and children. They have seen the gaps in education in St. Paul, Minnesota, and wanted to create a school that elevates the academic environment for the children of this area.

Their plans to build a school started in 2015, but it was only until April 2016 that they finally completed all the paperwork and met the legal requirements. Since then, Southside Academy has achieved the following milestones:

• Found a location and built the school
• Developed the school’s name, logo, and website
• Determined curriculum
• Hired teachers and other key employees

Southside Academy’s Services

Industry analysis.

Education is an essential foundation for a thriving society. It’s more important than ever before that every child has access to affordable, high-quality education. While public schools are an essential option for many low-income families, the education provided by private schools often results in higher test scores and more students moving on to top-tier universities.

The private school industry has experienced steady growth in the past five years. The key industry drivers are economic growth, the rise in numbers of K-12 students, an increase in the number of families with both parents working, and government initiatives to support education.

According to Polaris Market Research, this growth is expected to continue with a forecasted compound annual growth rate of 6.6% from now until 2030. This shows that Southside Academy has great potential to keep growing and expanding. We will have ample opportunities to grow our curriculum and offer services to students that help them reach their highest potential.

Customer Analysis

Demographic profile of target market.

Southside Academy serves the families and children of St. Paul, Minnesota. The area is mostly populated by young couples and new families that have disposable income and can pay a premium for their children’s education.

The precise demographics of the town in which our location resides are as follows:

Customer Segmentation

We primarily target the following three customer segments:

• Young children
• Young couples

Competitive Analysis

Direct and indirect competitors.

Southside Academy faces competition from other schools with similar profiles. A description of each competitor company is below.  

Waters Independent School

Founded in 1968, Waters Independent School is a non-profit and tax-exempt independent school system. The school is governed by an independent Board of Trustees and offers preschool through eighth-grade programs. WIS is accredited by the state’s Council of Independent Schools (FCIS).

Waters Independent School has small class sizes with low student-to-teacher ratios. Further, WIS’ Programs include a strong academic foundation coupled with programs in the arts, physical education, media/technology, foreign language, and extracurricular areas.  

Hill Preparatory School

Founded in 1923, Hill Preparatory School is a private, non-sectarian, coeducational, college preparatory day school. It offers PK-12 programs in a safe, student-centered environment. HPS supports its students through the challenges of the school year with one-on-one attention from dedicated faculty, robust services like The Learning Center and the College Center, and the most advanced educational technology. The campus spans 28 acres and has a new 60,000+ square foot facility.  

Future Leaders Preparatory School

Founded in 1968, Future Leaders Prep is a private school for PreK3-8th grade. FLPS offers preschool, elementary school, and middle school programs and offers the International Baccalaureate program of study for all students. Teachers are endorsed in gifted education through a master’s level grant with [local University]’s College of Education Gifted Program. In addition to the school, Future Leaders offers community programs such as music, dance, art, and theater lessons through the Community School of the Arts, youth sports in the Community School for Sports, and the 7-week summer camp.

Competitive Advantage

There are many schools in St. Paul, Minnesota but none of them provides the same quality of education that Southside Academy provides, specifically the following:

Marketing Plan

Brand & value proposition.

The Southside Academy brand will focus on the school’s unique value proposition:

• Providing premium education at an affordable price
• Providing a supportive and challenging place for children to learn
• Giving parents the assurance that their children will reach their full potential

Promotions Strategy

The promotions strategy for Southside Academy is as follows:

Social Media

Southside Academy will invest heavily in a social media advertising campaign. The school will utilize social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Publications

The school will place print advertisements in key local publications, including newspapers, area magazines, and business newsletters. Additionally, Southside Academy will print brochures and place them in specific locations frequented by target individuals.

Website/SEO

Southside Academy will invest heavily in developing a professional website that displays all of the features and benefits of Southside Academy. It will also invest heavily in SEO so that the school’s website will appear at the top of search engine results.

Direct Mail

Southside Academy will blanket neighborhoods with direct mail pieces. These pieces will provide general information on Southside Academy and incentives to enroll.

Southside Academy prices its tuition at a moderate price so our students and their families feel they are getting great value when choosing our school.

Operations Plan

The following will be the operations plan for Southside Academy.

Operation Functions:

• Mike Brown is the school Principal. He manages the teachers, directs the direction of education, and serves as the head of the school.
• Mike is joined by Amanda Johnson who acts as the Administrative Assistant for the school. She helps Mike with the operations of the school as well as the marketing and administrative functions.
• Mike has hired an extensive team of highly qualified educators. Together, they teach dozens of subjects, including biology, chemistry, social studies, and mathematics. Every teacher that works for Southside Academy is passionate about education and pushing their students to reach their highest potential.

Milestones:

Southside Academy expects to achieve the following milestones in the following six months:

• 3/202X Kickoff of promotional campaign to attract new students
• 4/202X Start donation campaign
• 5/202X Hire new teachers for the upcoming year
• 6/202X Achieve donation/funding goal
• 7/202X Finalize list of incoming students for next year
• 8/202X Start next school year

Financial Plan

Key revenue & costs.

Southside Academy’s revenues come from student tuition fees and donations from both individuals and corporations.

The major costs for the company will be staffing, marketing expenses, location maintenance, equipment, and materials.

Funding Requirements and Use of Funds

Southside Academy is currently seeking additional fundraising and capital of $600,000 in order to fulfill our mission. The breakdown of the funding may be seen below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and to pay off the startup business loan.

• Year 1: 200
• Year 2: 300
• Year 3: 400
• Year 4: 500
• Year 5: 600
• Tuition rate per year: $10,000

Financial Statements

Income statement.

Balance Sheet

Cash Flow Statement

School Business Plan FAQs

What is a school business plan.

A school business plan is a plan to start and/or grow your school business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your School business plan using our School Business Plan Template here .

What are the Main Types of School Businesses?

There are a number of different kinds of school businesses, some examples include: private K-12 school, charter school, virtual schools, independent schools, primary school, secondary education, or preschool.

How Do You Get Funding for Your School Business Plan?

School businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a School Business?

Starting a school business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A School Business Plan - The first step in starting a business is to create a detailed school business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your school business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your school business is in compliance with local laws.

3, Register Your School Business - Once you have chosen a legal structure, the next step is to register your school business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your school business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary School Equipment & Supplies - In order to start your school business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your school business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful school business:

• How to Start a School

Other Helpful Business Plan Templates

Nonprofit Business Plan Template

School Business Plan Template [Updated 2024]

School Business Plan

If you want to start a school or expand your current school, you need a business plan.

The following school business plan template gives you the key elements to include in a winning business plan. In addition to this template, a well-crafted plan will include market research to help you better understand the school industry, market trends, your competitive advantage and your target market. It will also help you craft a smart marketing strategy and a strong financial plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key components of an education business plan to help you launch a successful school. This can be used for a variety of school business plans, including a private school business plan, a charter school, public schools, independent schools, virtual schools, primary or secondary education.

• Executive Summary – The executive summary provides an overview of your business opportunity and summarizes the business plan.
• Company Overview – The company overview includes information about your business concept, academic and extracurricular activities offered, and legal structure.
• Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the education industry.
• Customer Analysis – The customer analysis provides an overview of your target customers.
• Competitive Analysis – The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.
• Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy, examples of marketing materials, and search engine optimization plan.
• Operations Plan – The operations plan includes information on your school’s day-to-day operations and processes.
• Management Team – The management team section includes a profile of the organizational structure, school leaders, their experience and responsibilities.
• Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

Download our business plan template (including a full financial projections model and financial statements).

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School Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

Business Plan Template for Schools

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Creating a solid business plan is essential for schools looking to make a positive impact on education. With ClickUp's Business Plan Template for Schools, you can streamline the process of outlining your objectives, strategies, and financial projections.

This template empowers school administrators and educational institutions to:

• Secure funding and attract stakeholders with a clear and compelling plan
• Effectively manage resources and budgets to ensure sustainable growth
• Set measurable goals and track progress towards academic excellence

Whether you're a small private school or a large educational institution, ClickUp's Business Plan Template for Schools will help you pave the way for success. Get started today and transform your vision into a reality!

Business Plan Template for Schools Benefits

A business plan template for schools offers numerous benefits for administrators and educational institutions, including:

• Clear and concise communication of the school's mission, goals, and strategies to potential investors, stakeholders, and partners
• A roadmap for financial planning and budgeting, ensuring that resources are allocated effectively and efficiently
• A comprehensive analysis of the market and competition, enabling schools to identify unique selling points and develop strategies for growth
• A framework for evaluating and measuring the school's performance and progress towards its objectives
• A tool for attracting funding and support from investors, donors, and government agencies

Main Elements of Schools Business Plan Template

ClickUp's Business Plan Template for Schools is the perfect tool for school administrators and educational institutions to effectively manage and grow their school. Here are the main elements of this template:

• Custom Statuses: Keep track of the progress of your business plan with four different statuses: Complete, In Progress, Needs Revision, and To Do.
• Custom Fields: Utilize three custom fields, including Reference, Approved, and Section, to add specific information and categorize different sections of your business plan.
• Custom Views: Access five different views to visualize your business plan from various perspectives, such as the Topics view to focus on specific topics, the Status view to track the progress of each section, the Timeline view to set deadlines and milestones, the Business Plan view to see the overall structure, and the Getting Started Guide view to help you navigate the template.

With ClickUp's Business Plan Template for Schools, you can streamline the process of creating, managing, and presenting your school's business plan.

How To Use Business Plan Template for Schools

If you're a school administrator or educator looking to create a comprehensive business plan for your institution, follow these steps to make the process easier:

1. Define your vision and mission

Before you start writing your business plan, it's important to establish a clear vision and mission for your school. What are your long-term goals and aspirations? What do you hope to achieve? This will serve as the foundation for your entire plan.

Use a Doc in ClickUp to outline and articulate your school's vision and mission statements.

2. Assess your current situation

Take a close look at your school's current strengths, weaknesses, opportunities, and threats. Evaluate your academic programs, facilities, student enrollment, financial resources, and any other relevant factors. This analysis will help you identify areas for improvement and determine the direction your school should take.

Create tasks in ClickUp to conduct a SWOT analysis and document your findings.

3. Set goals and objectives

Based on your vision, mission, and SWOT analysis, establish clear and measurable goals for your school. These goals should be aligned with your overall vision and address any weaknesses or opportunities you identified. Additionally, set specific objectives that outline the steps you need to take to achieve those goals.

Use Goals in ClickUp to set and track your school's objectives and key results (OKRs).

4. Develop strategies and action plans

Once you have your goals and objectives in place, it's time to develop strategies and action plans to achieve them. Determine the specific actions you need to take, the resources required, and the timeline for implementation. Consider areas such as curriculum development, staff training, marketing and enrollment, financial management, and infrastructure improvements.

Use tasks and subtasks in ClickUp to break down each action plan into manageable steps and assign responsibilities to team members.

By following these steps and utilizing the Business Plan Template in ClickUp, you can create a comprehensive and effective plan for your school's success. Remember to regularly review and update your plan as needed to ensure it remains relevant and aligned with your school's evolving needs.

Get Started with ClickUp’s Business Plan Template for Schools

School administrators and educational institutions can use the ClickUp Business Plan Template for Schools to effectively outline their objectives, strategies, and financial projections.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

• Use the Topics View to organize different sections and topics of your business plan
• The Status View will help you track the progress of each section, with statuses such as Complete, In Progress, Needs Revision, and To Do
• The Timeline View will allow you to visually plan and schedule the tasks and milestones of your business plan
• The Business Plan View provides a holistic overview of your entire plan, allowing you to see the big picture
• The Getting Started Guide View offers step-by-step instructions and guidance on how to use the template effectively
• Utilize the custom fields, such as Reference, Approved, and Section, to add additional information and categorize your business plan
• Update statuses and custom fields as you work through each section to keep stakeholders informed of progress
• Monitor and analyze your business plan to ensure it aligns with your school's goals and objectives
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Here's how you establish a profitable private school.

Launching a private school is an ambitious endeavor that can have a profound impact on the lives of students and the community at large.

Whether you're an educator with years of experience or an entrepreneur with a vision for innovative learning, establishing a private school requires meticulous organization and a commitment to excellence in education.

In this blog post, we'll navigate you through the crucial stages of opening a private school, from the foundational idea to the celebratory first day of classes.

How you should prepare to establish a private school

Market research and concept, choose a concept.

Choosing a concept is one of the first steps in opening a private school because it will define the educational approach, the curriculum, the extracurricular activities, and the type of students you aim to attract.

This decision will influence your school's location, architecture, class sizes, teacher recruitment, tuition fees, and marketing strategy. A well-defined concept can help your school stand out in a competitive market and draw in families looking for a specific type of education for their children.

In essence, selecting the right concept is like deciding on the educational philosophy and values you want your school to embody before you start shaping the learning environment and engaging with the community.

To assist you in making an informed choice, we have summarized the most popular concepts for private schools in the table below.

Pick an audience

When establishing a private school, it's crucial to tailor your educational offerings to the specific audience you aim to serve.

For instance, if you're looking to attract families who value academic excellence, your school might focus on a rigorous curriculum with advanced placement courses and a strong STEM program. You'd likely choose a location that's in a community known for valuing education and possibly near academic enrichment centers or libraries.

Alternatively, if your target audience is parents who are interested in a holistic education for their children, your school might emphasize a curriculum that includes the arts, outdoor education, and social-emotional learning. The school's environment might be designed with open, natural spaces and located in a serene setting.

Identifying your target audience is essential because it shapes every aspect of your private school, from the curriculum and extracurricular activities to the design of the campus and its location. It's akin to customizing a service; you consider what the families and students need before shaping your educational product. This ensures that your school meets their expectations and needs.

Moreover, understanding your audience enables you to communicate with them more effectively. If you know who you're trying to attract, you can determine the best channels to reach them, such as educational fairs, local community events, or online platforms frequented by parents.

In our business plan for a private school , we have outlined different customer segments that could be relevant for your educational institution.

To provide a clearer picture of potential audiences for your private school, we've compiled a few typical examples below.

Get familiar with the industry trends

When launching a private school, it's crucial to stay informed about the emerging trends in the education sector and integrate them into your school's ethos and curriculum.

Trends in education can give insights into what parents and students are looking for in a school. By embracing these trends, you can attract families who are seeking an educational experience that aligns with contemporary values and prepares students for the future. Additionally, differentiating your school with innovative programs can set you apart from more traditional educational institutions.

For instance, we regularly update our business plan for a private school to reflect the latest educational trends. We believe this is essential for developing a competitive and forward-thinking educational environment.

One significant trend is the emphasis on STEM (Science, Technology, Engineering, and Mathematics) education, as these areas are critical for future job markets. Schools that offer robust STEM programs can appeal to parents who want to ensure their children are prepared for technological advancements.

Another trend is the integration of social-emotional learning (SEL) into the curriculum, which helps students develop crucial life skills such as empathy, resilience, and effective communication.

Environmental sustainability is also becoming a key concern, with schools incorporating green practices and teaching students about ecological responsibility.

Moreover, in our digital age, offering coding and digital literacy courses can give students a competitive edge, while also enhancing their problem-solving and critical thinking skills.

We have compiled a list of more trends in the table below.

However, there are also some declining trends.

For example, traditional rote learning methods are becoming less popular as they do not foster the critical thinking and creativity that modern educational philosophies emphasize.

Also, schools that lack technological integration may fall behind, as digital skills are increasingly seen as essential for academic and professional success.

Finally, with a growing emphasis on personalized education, one-size-fits-all curriculums are being questioned for their effectiveness in meeting individual student needs.

Choosing the ideal location

Choosing the optimal location for your private school is a critical decision that can significantly influence its success and sustainability. This decision requires careful consideration of several key factors.

Understanding the local demographics is the first step. A thorough analysis of the community's composition, including the number of families, average income, and education levels, will help you determine the potential demand for your school. An area with a high concentration of families with school-aged children is ideal.

The school's visibility and accessibility are crucial. A location that is easily noticeable and reachable by various means of transportation can make it more attractive to parents. Look for areas with safe pedestrian pathways and convenient access to public transportation or major roads for easy drop-off and pick-up.

While competition from other private schools can be challenging, it also indicates a demand for educational services in the area. Researching the local educational landscape to identify gaps in the market can help your school stand out by offering unique programs or curricula.

Rent or property costs must be weighed against the potential for enrollment. Prime locations come at a premium, but they may justify the expense with higher visibility and accessibility. It's essential to ensure that the cost aligns with your financial projections and long-term budgeting.

Negotiating favorable terms for purchasing or leasing property can have a significant impact on your school's financial health. This might include long-term leases with fixed rates or options to purchase the property in the future.

Consider the growth potential of the neighborhood. Is the area developing in a way that could increase local enrollment? The ability to expand your facilities in the future without relocating can be a significant advantage as your school grows.

Proximity to community amenities, such as parks, libraries, and sports facilities, can enhance the appeal of your school to prospective families. These resources can be integrated into your school's programs and activities.

Using market research and demographic analysis tools can provide valuable insights into the best locations for your private school. These tools can help pinpoint areas with families that match your target demographic and are likely to value the educational services you offer.

The choice between a suburban and urban setting will depend on your school's mission and the community you aim to serve. Urban areas may offer a diverse student population and proximity to cultural institutions, while suburban areas might provide a more tranquil setting and potentially more space for facilities.

Being near residential developments or business districts can provide a steady stream of potential students, especially if your school offers programs that align with the needs of these communities, such as extended hours or extracurricular activities.

It's also vital to understand local zoning laws, educational regulations, and accreditation requirements to ensure that your chosen location is suitable for a private school. Compliance with these regulations from the outset can prevent costly adjustments and delays.

Finally, assessing the long-term viability of a location is essential. Consider any planned developments in the area that could impact your school, either positively by increasing the local population or negatively by introducing new competitors or raising property costs.

Startup budget and expenses

Calculate how much you need to start.

On average, the initial capital needed to open a private school can vary significantly, ranging from $250,000 to $500,000 for a small-scale operation to $1 million to over $5 million for a larger, more established institution with state-of-the-art facilities .

If you want to know the exact budget you will need for your own private school and also get a full detailed list of expenses, you can use the financial plan we have made, tailored to private schools . This excel file is designed to be user-friendly and will provide you with an instant and comprehensive analysis of your future project.

The budget can vary the most due to the location of the school. Prime locations in desirable neighborhoods or areas with high demand for private education tend to have higher property and rental costs, which can significantly increase startup expenses.

The size of the school is another major factor in determining the initial investment. A larger campus not only increases property costs but also requires more staff, classrooms, and resources, leading to higher operational costs.

The quality of facilities and educational resources is another significant factor. High-quality, modern facilities and resources are expensive but can attract more students and potentially justify higher tuition fees. Conversely, starting with more modest facilities can reduce initial costs but may impact the school's competitiveness and appeal.

If the available capital is limited, it's still possible to open a private school, but careful planning and prioritization are essential. The very minimum budget could be around $250,000 to $500,000 if you choose a low-cost location, minimize the size of your operation, lease instead of buy property, and manage much of the administrative work yourself. This approach requires a hands-on strategy, focusing on a niche educational philosophy or curriculum to stand out and reduce complexity and costs.

To make the most of a limited budget, consider the following tips.

Identify all your expenses

The expenses when starting a private school include facility acquisition or rental, licensing and accreditation, insurance, marketing and advertising, technology and software, staff hiring and training, curriculum development, and a reserve for unexpected expenses.

Acquiring or renting a facility that is safe and conducive to learning is one of the largest expenses. Costs can range from $50,000 to $500,000 or more, depending on the location, size, and condition of the property. This includes classrooms, administrative offices, and outdoor spaces.

Licensing and accreditation are essential for operating legally and ensuring educational standards. These costs can vary widely but typically range from a few thousand to tens of thousands of dollars, including state education department fees and regional accrediting body fees.

Insurance is critical to protect your school against liability, property damage, and other potential risks. Essential policies include general liability, property insurance, professional liability, and workers' compensation. Annual premiums can range from $5,000 to $20,000 or more, depending on the size of the school and the level of coverage.

Marketing and advertising are crucial for attracting students and building a reputation. Initial marketing efforts might cost between $2,000 to $10,000, including website development, online advertising, brochures, and open house events. The amount can vary based on the scale of the marketing campaign.

Investing in technology and software for student information systems, learning management systems, and administrative software is important. Costs can range from $5,000 to $50,000, depending on the sophistication of the systems you choose. Subscription-based services may have ongoing monthly fees.

Hiring and training staff is a significant expense, with initial costs for recruitment, background checks, and professional development. Setting aside $10,000 to $50,000 can help ensure you have qualified teachers and administrative staff. This also includes ongoing professional development and certifications.

Curriculum development is another key expense, which can include purchasing textbooks, licensing educational content, and developing unique programs. Initial costs can range from $5,000 to $25,000, depending on the breadth and depth of the curriculum offered.

Finally, setting aside a reserve for unexpected expenses or emergencies is crucial. A good rule of thumb is to have at least three to six months' worth of operating expenses saved, which could be anywhere from $100,000 to $500,000 or more, to cover unforeseen circumstances.

Here is a summary table to make it easier to digest. For a full breakdown of expenses, please check our financial plan for private schools .

Business plan and financing

Make a solid business plan.

Embarking on the journey of opening a private school requires meticulous planning and a clear vision, which is why crafting a business plan for a private school is indispensable.

Why is this so important? A business plan is the blueprint of your educational venture. It details your mission, educational philosophy, and the steps you will take to achieve academic excellence. It is also a critical tool for securing funding, as it shows potential investors and financial institutions the sustainability and profitability of your school.

A comprehensive private school business plan should encompass several key elements, including market analysis, financial projections, and operational strategies. Market analysis is crucial as it helps you understand the demand for private education in your area, the needs of potential students and parents, and the competitive landscape. This involves examining local demographics, assessing the performance and offerings of nearby schools, and identifying your school's unique value proposition.

Financial planning is equally vital. This section should detail your anticipated revenue streams, such as tuition fees, grants, and fundraising efforts, as well as expenses like faculty salaries, facility maintenance, and educational materials. It should also include financial statements like cash flow forecasts, income statements, and a break-even analysis. A robust financial plan provides a clear view of your school's fiscal prospects and operational sustainability. You can find a detailed example in our financial plan for a private school .

While there are commonalities between business plans for different types of ventures, a private school business plan has its unique focuses. For instance, it must emphasize academic program development, faculty recruitment and retention strategies, and compliance with educational standards and regulations. Additionally, the plan should address the physical infrastructure of the school, including classrooms, laboratories, libraries, and recreational facilities.

To develop a successful private school business plan, thorough research and realistic financial estimates are essential. Engage with the community to gauge interest and gather feedback on your proposed educational offerings. Consider the scalability of your school, potential for expansion, and how you might diversify your programs to meet changing educational needs.

Special attention should also be given to establishing a strong brand identity and marketing strategy that aligns with the values and expectations of your target audience. Whether it's through academic excellence, innovative teaching methods, or extracurricular enrichment, your school should stand out in a competitive market.

Success in establishing a private school is not solely based on the academic curriculum but also on strategic planning, understanding the educational market, prudent financial management, and effective execution of your operational plan.

Remember, a business plan is not static; it's a dynamic document that should be regularly reviewed and adjusted as your school develops and the educational landscape evolves.

Get financed

Concerned about how to finance your private school? There are multiple avenues to secure the necessary funds.

Financing for a private school can come from diverse sources, including attracting investors, securing loans from banks or financial institutions, and applying for educational grants or subsidies.

Each financing method has its own set of benefits and factors to consider.

Attracting investors means finding individuals or entities willing to provide capital in exchange for equity in the school. This can be advantageous as it doesn't require immediate repayment and can bring in a substantial amount of money.

However, it also involves relinquishing a share of ownership and possibly some degree of control over the school's operations and policies.

For a private school, this might be a viable option if you're looking to establish a school with high-quality facilities, a unique educational approach, or in a location with high demand for private education. To persuade investors, you'll need a robust business plan that shows the school's potential for growth, sustainability, and a clear grasp of the educational sector.

Securing a loan is another common method of financing.

While this option requires repayment with interest, it allows you to maintain complete ownership of the school. Loans can be used for a variety of purposes, such as constructing school buildings, equipping classrooms with the latest technology, or covering initial staffing costs.

Banks usually ask for a down payment or collateral, which might range from 20% to 40% of the loan's value. It's crucial to balance the amount of external financing to avoid overwhelming the school with debt. Ideally, the school's projected income should be sufficient to cover loan repayments while still allowing for educational quality and operational costs.

Grants and subsidies are another option, though they can be more challenging to obtain.

These funds are typically provided by government bodies or foundations that support educational initiatives. Grants and subsidies do not require repayment, but they often have stringent requirements and are highly competitive.

For a private school, grants might not be the primary source of funding but can be instrumental in funding special programs, scholarships, or infrastructure improvements.

To effectively secure financing, whether from lenders or investors, it's essential to prove the feasibility and financial viability of your private school.

This involves creating a detailed business plan that includes market analysis, an understanding of the educational landscape, comprehensive financial projections, and a strategic plan for student recruitment and retention. Your business plan should also emphasize what makes your school unique, such as specialized curricula, exceptional faculty, or innovative teaching methods.

Lenders and investors will evaluate your school based on criteria such as the credibility of the management team, the value of collateral offered, and the strength of the business plan.

They will scrutinize the financial projections of your school to determine if you can generate sufficient revenue to cover operational costs, repay debts, and still achieve educational excellence. A thorough understanding of the educational market, including trends, demographics, and competitive analysis, will bolster your case.

Below is a summary table of the various financing options mentioned for opening a private school, along with their advantages, considerations, and potential uses:

Legal and administrative setup

Permits and licenses.

Opening and operating a private school involves meticulous planning and compliance with various regulations and requirements to ensure the safety, education quality, and well-being of your students, as well as to safeguard your institution.

The specific permits, licenses, educational department regulations, inspection schedules, consequences of non-compliance, and insurance policies you'll need will differ based on your location, but there are common standards that are applicable in many areas.

First, you'll need to secure the necessary business permits and licenses.

This typically includes an educational institution license from your city or state, and possibly a business license. Depending on the services provided, you may also need additional certifications, such as a child care license if you offer pre-kindergarten programs, or accreditation from recognized educational bodies.

It's imperative to consult with your local government and educational authorities to understand the specific requirements for your region.

Regarding educational department regulations, private schools must comply with curriculum standards, teacher certification requirements, and student safety policies to ensure a high-quality educational environment.

This includes background checks for staff, adherence to building codes for educational facilities, and regular training for employees on emergency procedures. Educational department inspections are conducted to ensure compliance with these regulations. The frequency of inspections can vary, but they typically occur at least once every few years or more often if there are complaints or previous issues. Some jurisdictions may also require a pre-operational inspection before the school can open.

Non-compliance with educational department regulations can result in consequences ranging from fines to the revocation of the school's license to operate.

In severe cases, non-compliance can lead to legal action or the school's closure. It's crucial to take these regulations seriously and ensure your private school complies with all educational standards and safety requirements.

Insurance is another essential aspect of protecting your private school. At a minimum, you'll need general liability insurance to cover accidents or injuries that occur on your premises.

Property insurance is also vital to protect the school's physical assets from damage or theft. If you employ staff, workers' compensation insurance will likely be mandated by law to cover injuries or illnesses that occur as a result of their work.

Additionally, professional liability insurance, also known as errors and omissions insurance, might be prudent, as it can protect your institution in case of claims of educational malpractice or negligence.

Furthermore, considering student accident insurance could be beneficial to cover injuries that students may sustain while at school or during school-related activities.

Business Structure

The three common structures for opening a private school are Nonprofit Corporation, For-Profit Corporation, and LLC (Limited Liability Company). Each has their unique features and implications for your educational institution.

Please note that we are not legal experts (we specialize in educational consulting and financial planning) and that your choice should be based on the level of control you wish to maintain, the funding mechanisms you plan to use, your tax preferences, and your vision for the school's growth and legacy.

In simple terms, a Nonprofit Corporation is designed for institutions that operate for public benefit and can access grants and tax-exempt status. A For-Profit Corporation is aimed at generating profits for shareholders and has different tax implications. An LLC offers flexibility and protection, with potential benefits for smaller private schools.

Consider your long-term objectives, and consult with a financial advisor or attorney to make the best choice for your private school.

We’ll make it easier for you, here is a summary table.

Getting started to establish a private school

Offer development, design and lay out.

Designing and laying out your private school for operational efficiency and an optimal learning experience requires meticulous planning and strategic implementation.

Let's explore how you can accomplish this, focusing on student flow, balancing facility needs with budget, and ensuring health and safety.

Firstly, envisioning student flow is crucial.

Your school's design should facilitate a natural progression from the entrance to classrooms, administrative offices, the library, cafeteria, and recreational areas. This flow should be logical, minimizing congestion and ensuring a smooth transition from one area to the next. Place interactive displays or student work in common areas to engage students and celebrate their achievements.

This setup not only promotes a sense of community but also encourages students to take pride in their school environment.

Regarding the design to facilitate this flow, consider the layout's openness and accessibility.

Wide corridors, clear signage, and a logical arrangement of the space promote easy movement and a safe environment. The administrative area should be clearly marked and separate from the academic zones to reduce distractions and maintain a focused learning atmosphere. If your school includes recreational spaces, ensure they are comfortably distanced from classrooms to prevent noise interference.

Balancing the need for high-quality facilities with budget constraints is a challenge many schools face.

Start by prioritizing essential facilities that directly impact the quality of education, such as well-equipped classrooms and science labs. These are worth investing in because they are the core of your school's educational offerings. For other items, consider partnering with local businesses or applying for grants to fund technology or sports equipment.

Additionally, plan for facilities that offer versatility and adaptability, like multi-purpose halls or modular classrooms, to get the most value for your investment.

Health and safety in the school layout are non-negotiable. Your design must incorporate zones designated for different activities to prevent accidents and ensure a secure environment. For example, separate areas for sports, dining, studying, and relaxation ensure that each aspect of school life is contained and managed effectively. Install handwashing stations at key points, especially near the cafeteria and restrooms, to encourage regular hand hygiene among students and staff.

Specific protocols for emergency procedures, classroom cleanliness, and maintenance are crucial for safety and compliance. Implement a system that ensures all facilities are regularly cleaned and maintained, with safety equipment like fire extinguishers and first aid kits readily accessible.

Train your staff thoroughly in health and safety practices, emphasizing the importance of regular drills, maintaining a clean environment, and monitoring student well-being.

Regularly review and update these protocols to comply with local education regulations and best practices.

Craft your offer

Your curriculum and educational programs will be the cornerstone of your private school's success (or the reason for its struggles).

To begin, understand the educational needs and preferences of your target market through direct engagement, such as parent-teacher meetings, feedback forms, and social media interactions, as well as indirect research, like analyzing educational trends in your region and reviewing the offerings of successful competitor schools.

Once you have a comprehensive understanding of what parents and students are looking for, you can start to develop a curriculum that not only meets their educational needs but also distinguishes your school from others.

Incorporating local culture and global perspectives into your curriculum is an excellent way to enhance its relevance and appeal. This approach not only prepares students for local community involvement but also equips them with the skills needed to compete in a globalized world. Forge partnerships with local organizations and international educational institutions to provide a diverse range of learning experiences. This knowledge allows you to plan your educational programs with a balance of local relevance and international standards, offering special programs that can attract parents looking for a comprehensive education for their children.

To ensure your school's educational offerings stand out in a competitive market, focus on innovation and excellence.

This can be achieved by offering specialized programs that are rare to find elsewhere, such as STEAM (Science, Technology, Engineering, Arts, and Mathematics) initiatives, language immersion programs, or courses that focus on environmental stewardship and sustainability. Sharing the success stories of your alumni and the achievements of your current students can also add a unique appeal.

Ensuring consistency and quality in your educational delivery involves setting high standards and clear learning outcomes.

This can include a well-structured curriculum, ongoing professional development for your teaching staff, and regular assessments to monitor student progress. Consistency is key to building trust with parents and students, as they will know exactly what to expect in terms of educational quality and student support. Invest in high-quality teaching resources and technology, and be prepared to continuously update your curriculum to ensure it meets the highest educational standards.

Additionally, utilizing feedback from students and parents is crucial for the continuous improvement and refinement of your school's educational programs. Create channels for feedback, such as suggestion boxes, online forums, and parent councils, to understand what your stakeholders appreciate and where there might be room for enhancement.

Be open to constructive criticism and willing to implement changes based on stakeholder input. This not only aids in refining your educational offerings but also demonstrates to students and parents that you value their opinions, fostering a sense of community and encouraging long-term engagement with your school.

Determinate the right pricing

When opening a private school, it's crucial to establish a pricing strategy that balances profitability with the perceived value of the educational services you provide. Here's a structured approach to setting your tuition fees.

Firstly, you must calculate your costs comprehensively. This includes teacher salaries, administrative staff wages, facility maintenance, utilities, educational materials, technology, extracurricular programs, and any other operational expenses. Understanding these costs is fundamental to ensure that your tuition fees cover them and yield a sustainable profit margin.

Next, examine the competitive landscape. Research other private schools in your area to understand their pricing structures. While you don't need to match or undercut their fees, this information will help you position your school within the market.

Understanding the demographics and economic profiles of the families you aim to attract is essential. Gather insights through community engagement, surveys, or open houses to determine what parents value most in their children's education and what they are willing to pay. This will help you identify a price point that reflects the quality of your school without alienating potential customers.

Psychological pricing can also be applied in the educational sector. For example, setting tuition at $9,950 instead of $10,000 can make the cost seem significantly lower, even though the difference is relatively small. However, you should maintain the perceived prestige and quality of your school, so use this strategy with caution.

The perceived value is critical in justifying your tuition fees. This can be enhanced by the school's academic reputation, the qualifications of your teaching staff, the breadth of your curriculum, and the quality of your facilities. Providing an exceptional educational experience, including personalized attention, state-of-the-art resources, and a safe and nurturing environment, can support higher tuition fees because parents perceive a greater value in the education their children receive.

Consider implementing flexible payment plans or early payment discounts to accommodate different financial situations and encourage timely enrollment. Additionally, offering scholarships or sibling discounts can make your school more accessible and appealing to families with multiple children.

For new programs or expansions, introductory pricing can attract early adopters. Once the program is established and its value recognized, you can reassess the fees based on demand and operational costs.

Online courses or supplementary programs might have different cost structures compared to in-person offerings. Pricing for these should reflect the savings on physical resources while still providing value. Exclusive online discounts or package deals can also incentivize enrollment in these programs.

Finally, be cautious with discounting. While financial aid and scholarships are important for accessibility and diversity, frequent or deep discounts can undermine the perceived value of your school. Use discounts judiciously to maintain the integrity and reputation of your institution.

By carefully considering these factors, you can set tuition fees that reflect the quality of education you provide, meet operational costs, and ensure the financial health of your private school.

Manage relationships with your suppliers

Poor relationships with suppliers could significantly hinder your private school's ability to provide a high-quality education.

On the contrary, building strong ties with educational resource suppliers and service providers will ensure the steady availability of top-notch educational materials and support services.

Regular communication, timely payments, and expressing appreciation for their products and services can foster loyalty and reliability. Be transparent about your expectations and needs, and whenever possible, visit their operations. This deepens your understanding of their processes and challenges, enabling you to work together more effectively.

Additionally, consider long-term contracts for key educational resources to secure better prices and guarantee supply, but also maintain a network of backup suppliers to mitigate risks of shortages.

For managing educational resources, inventory management techniques such as First-In, First-Out (FIFO) are essential. This approach ensures that older resources are used before newer deliveries, reducing the risk of outdated materials. Regularly monitor inventory levels to adjust orders according to curriculum changes and student enrollment, avoiding overstocking and minimizing obsolescence. Implementing a just-in-time (JIT) inventory system can also be effective, where resources are ordered and received as needed for the academic year, though this requires precise forecasting.

Technology can significantly improve resource management and reduce waste in a private school.

Implementing an inventory management system that integrates with student information systems (SIS) allows for real-time tracking of resource levels and usage data. This technology can help predict needs more accurately, streamline ordering processes, and identify trends that can inform curriculum development and educational strategies.

Additionally, digital tools can facilitate better communication with suppliers, enabling more efficient order adjustments and collaboration.

Scaling educational offerings presents challenges such as maintaining curriculum consistency, managing increased costs, and ensuring educational quality. Address these challenges by standardizing teaching materials and processes, training staff thoroughly, and investing in technology that can increase efficiency without compromising educational quality.

Scaling up also means more educational resources, so negotiate pricing with suppliers for bulk purchases without sacrificing resource quality. Quality control becomes even more critical as enrollment increases, requiring strict adherence to educational standards and more frequent reviews.

Implementing effective cost control measures involves scrutinizing every aspect of sourcing and using educational resources and services. Regularly review and negotiate with suppliers to ensure you're getting the best prices without compromising quality.

Also, consider alternative resources that may offer cost savings or seasonal pricing advantages. Utilize technology to track and analyze costs, waste, and resource levels to identify areas for improvement. Reducing waste not only cuts costs but also aligns with sustainable practices, appealing to environmentally conscious parents and stakeholders.

Hire the right people

When opening a private school, you should carefully consider the staff you need to ensure a high-quality educational environment. Initially, you may not need to hire a full complement of staff, but there are certain key roles that are essential from the start.

At the core, your private school will require a team that covers instruction, administration, and support services.

For instruction, you'll need qualified teachers who are experts in their subject areas and have a passion for teaching and developing young minds. A principal or headmaster with strong leadership skills and educational experience is crucial to set the academic standards and oversee the entire school operation.

For administration, administrative staff including admissions officers and office managers are vital to handle the day-to-day operations, manage student records, and communicate with parents and the community. A financial manager or accountant who can oversee the school's budget, payroll, and financial planning is also important.

Support services such as maintenance staff, IT specialists, and school counselors are essential to maintain the school's infrastructure, support the technology needs of the staff and students, and address the emotional and academic well-being of the students, respectively.

Some roles, like extracurricular coaches, specialized subject tutors, or additional administrative assistants, may not be necessary right away and can be added as the school grows and the demand for these services increases. Outsourcing can be a strategic option for certain services, such as IT support or janitorial work, to allow your core team to focus on education and student development.

When hiring, prioritize candidates with the appropriate educational qualifications, teaching experience, and a commitment to fostering a positive learning environment.

For teachers, look for a combination of formal education credentials, teaching certification, and classroom experience. Administrative staff should have experience in educational administration, strong organizational skills, and excellent communication abilities. For leadership roles like the principal, seek out individuals with a proven track record in educational leadership and a vision for school success.

To ensure a good fit with your school's culture and values, consider including teaching demonstrations, interviews with multiple stakeholders, and thorough reference checks in your hiring process.

Seek candidates who are passionate about education and have the adaptability to work in a dynamic school environment.

Finding the right candidates can be challenging, so utilize education job boards, teacher recruitment agencies, and professional education networks. Attending education job fairs and partnering with universities can also be effective strategies. Offering professional development opportunities can attract high-quality candidates looking to advance their careers.

Here is a summary table of the different job positions for your private school, and the average gross salary in USD.

Running the operations of your private school project

Daily operations.

Running a private school efficiently is key to providing quality education and ensuring smooth daily operations. By adopting the right strategies, you can create an environment that is conducive to learning and growth.

Firstly, implementing a School Management System (SMS) tailored to the needs of educational institutions can greatly enhance your administrative efficiency.

Choose an SMS that integrates student information, academic records, and financial management. This integration allows you to monitor student progress, manage class schedules, and handle billing and payments seamlessly.

Many advanced SMS platforms also include communication tools, which facilitate better interaction with parents and students. These tools can support announcements, homework assignments, and even parent-teacher conference scheduling.

For academic management, you'll want software that can track student performance and attendance accurately.

The best systems provide analytics on student grades and attendance patterns, helping you identify areas where students may need additional support. This can lead to targeted interventions and improved educational outcomes.

Effective supplier management is also crucial for a private school, particularly when it comes to educational materials and technology.

Establish solid communication channels with suppliers and set clear expectations about delivery times, product quality, and payment terms. A strong relationship can lead to better service and possibly discounts. It's also prudent to have alternative suppliers to ensure that educational materials are always available when needed.

Creating a positive work environment for your teaching and administrative staff is essential. This includes regular professional development, transparent communication of goals and expectations, and constructive feedback.

Recognizing and rewarding excellent performance can boost morale and motivation. It's also important to create fair work schedules that respect your employees' work-life balance.

Ensuring a positive experience for students and parents begins with the school's atmosphere, the quality of education, and the service provided by your staff.

Train your staff to be approachable, professional, and supportive. Encourage them to know students and parents, making the educational journey feel personalized and attentive.

Maintaining a clean and safe school environment, with clear signage and an organized layout, also contributes to a positive experience.

Effective customer service policies for a private school might include a commitment to educational excellence, clear communication channels for concerns and suggestions, and a system for collecting and responding to feedback.

Make it easy for parents and students to provide feedback, whether through your school's website, parent-teacher meetings, or via official communication channels. Address feedback promptly and constructively, showing that you value their input and are dedicated to continuous improvement.

When handling complaints, you should listen fully before responding. Apologize if necessary and offer a solution, such as additional support or a meeting to discuss the issue further.

Use negative feedback as a chance to refine your educational approach, facilities, or services. Turning a challenging situation into a positive outcome can often result in strengthened trust and loyalty from parents and students.

Revenues and Margins

Know how much you can make.

Understanding the financial dynamics of a private school is crucial for its sustainability and growth.

We have an in-depth article on the financial management of private schools that provides extensive details. Here, we'll highlight some key points.

One important metric for private schools is the average tuition fee per student. This figure represents the average amount a family pays for one child's education per year.

The average tuition fee can vary widely depending on the type of private school. For elite preparatory schools, which offer extensive extracurricular activities and advanced placement courses, the average tuition fee might range from $20,000 to $40,000 annually.

For parochial schools, which may be subsidized by religious organizations, the average tuition fee could be lower, perhaps $5,000 to $15,000 per year.

Montessori and other alternative education schools might have tuition fees that fall somewhere in the middle, potentially $10,000 to $25,000 annually, depending on their programs and facilities.

When it comes to revenue, private schools have a broad range. Urban private schools in affluent areas might see annual revenues of $1 million to $10 million , depending on their size and reputation.

Rural private schools, with a smaller potential student base, might expect annual revenues in the range of $500,000 to $3 million .

Newly established private schools often face lower revenues as they work to attract students and build their reputation. Initial annual revenues might not exceed $250,000 .

Conversely, established private schools with strong alumni networks and high student retention rates can enjoy stable and substantial revenues.

Elite preparatory schools, with their higher tuition fees and often larger endowments, can sometimes exceed $10 million in annual revenue .

Parochial schools may have more variable revenues due to their reliance on both tuition fees and donations from their affiliated religious organizations.

Private schools don't just rely on tuition fees for revenue. They have multiple streams that contribute to their financial health.

If you're looking for inspiration, here's a table that outlines various potential revenue streams for a private school.

Understand your margins

As with any business, understanding the financial health of a private school is crucial for its sustainability and growth. Revenue alone does not paint the full picture; we must delve into the expenses and margins to gauge the true profitability of the institution.

Let's explore the gross and net margins, which are key indicators of a private school's financial performance.

To calculate your own margins and get a precise figure for potential profit, you can adjust the assumptions in our financial model designed for private schools .

The typical range of gross margins for private schools can vary, often ranging from 60% to 80%.

Gross margin is calculated by subtracting the cost of services (COS), which includes direct costs associated with providing educational services such as teacher salaries, classroom materials, and other educational expenses, from the tuition and fees revenue, then dividing this number by the total revenue, and multiplying by 100 to get a percentage.

Net margins consider not only the COS but also all other expenses a private school incurs, such as facility maintenance, administrative expenses, marketing, and taxes. This figure is obtained by subtracting all operating expenses from the gross profit.

Net margins offer a more complete view of a private school's profitability and are typically lower than gross margins, with averages often ranging from 10% to 20% across the sector, reflecting the tighter profitability after all costs are considered.

Different types of private schools—day schools, boarding schools, and specialty schools—can have varying profit margins due to differences in their operational models, scale, and target demographics. Here is a table to illustrate these differences.

It's evident that the margins of a private school are influenced by factors such as the range of programs offered, tuition strategy, and scale of operations.

A broad range of programs can attract more students but may increase operational complexity and costs. Tuition strategy is critical; fees must be competitive yet sufficient to cover costs and yield a profit. Scale of operations can impact cost efficiencies, with larger schools often benefiting from lower per-unit costs.

Ongoing expenses that affect private school margins include teacher salaries, facility maintenance, administrative costs, and marketing. Salaries are a significant expense, as quality education is heavily reliant on skilled staff. Facility costs can vary greatly depending on location and amenities offered, and marketing is essential to maintain and grow enrollment.

Private schools that focus on niche markets, such as Montessori or International Baccalaureate programs, may experience different margin dynamics compared to more traditional private schools.

While niche schools can command higher tuition fees, they also face higher operational costs and potentially limited market size, which can impact overall margins.

External factors such as economic conditions, demographic shifts, and educational trends also play a crucial role in private school margins. Economic downturns can affect families' ability to pay tuition, while demographic trends can influence enrollment numbers. Staying current with educational trends and adapting programs accordingly can help manage these fluctuations.

Addressing the challenge of maintaining healthy margins in the face of rising operational costs is significant. Private schools can counter these challenges through efficient cost management, strategic tuition pricing, optimizing operations for energy efficiency, and investing in technology for administrative productivity.

Regular tracking and analysis of financial performance (which can be done with our financial model specifically for private schools ), including gross and net margins, is essential for ensuring the financial health and long-term viability of a private school.

Implement a strong marketing strategy

Marketing for a private school doesn't have to be an intricate puzzle. We understand that you'll be focused on providing quality education and managing the day-to-day operations of your school, so we'll keep our marketing strategy recommendations straightforward and impactful, as outlined in our business plan for a private school .

Developing a brand for your private school is essential.

Your brand represents how students, parents, and the community perceive and remember your school. It's more than just your emblem or the school colors; it's the culture, educational philosophy, and the experiences you offer. Your brand should mirror the excellence of your educational programs, the environment of your school, and the values you uphold, such as academic excellence, character development, or innovation. A strong brand differentiates your school in a competitive market and fosters a committed community.

Begin your marketing plan by identifying your target audience. Who are the families you aim to attract? What are their priorities? Do they value a rigorous academic curriculum, a strong sports program, arts integration, or a particular educational philosophy? Knowing your audience will shape your branding and promotional efforts.

When it comes to promotion, social media and digital marketing are potent channels for private schools. Platforms like Facebook, Twitter, and LinkedIn are ideal for sharing your school's achievements, events, and educational content.

Provide a glimpse into daily school life, which adds a personal connection and demonstrates the dedication and passion of your staff.

Parent testimonials and student success stories can build credibility and inspire prospective families to consider your school. Educational insights or thought leadership articles can also engage your audience, positioning your school as a leader in education.

Content strategies that resonate with private schools include highlighting unique programs, showcasing student-led projects, celebrating academic and extracurricular accomplishments, and emphasizing community service initiatives. Partnering with local organizations or educational influencers can also increase your visibility.

However, not every tactic will be suitable for your school. For instance, if your school prides itself on a specialized curriculum, broad advertising that doesn't speak to that focus may not be the best investment. Similarly, if your target demographic is local families, international marketing efforts might not be relevant.

Even with a modest budget, there are clever ways to attract new students.

First, consider hosting open house events or educational seminars that can showcase your school's strengths directly to interested families. This not only promotes enrollment but also enhances your school's profile.

You can also offer trial classes or summer programs to give families a taste of your school's offerings.

Collaborating with local businesses and community organizations can extend your reach and build partnerships.

Implementing a referral program can motivate current families to recommend your school to others. Simple referral incentives or recognition programs can be quite effective.

Lastly, never underestimate the influence of word-of-mouth marketing. Encourage your satisfied families to share their positive experiences, perhaps by offering a discount or special recognition for successful referrals.

Grow and expand

We want your private school to thrive and become a beacon of educational excellence. The insights provided here are intended to help you along this journey.

Imagine your private school is already performing well, with a strong reputation and a healthy financial position. Now it's time to consider how to scale and expand your educational services.

There's always potential for greater impact, and we're here to support you in realizing that potential.

Also, please note that there is a 5-year development plan tailored for private schools in our business plan template .

Successful private school administrators often possess qualities such as vision, leadership, a commitment to educational excellence, and the ability to connect with students, parents, and the community. These traits are essential as they guide the strategic growth of their institution.

Before adding new programs or expanding grade levels, consider the existing demand in your community, the compatibility of new offerings with your current curriculum, and how these changes will impact your operations.

Market research is critical in this decision-making process. By understanding the educational needs, demographic trends, and the success of similar programs elsewhere, you can make informed decisions that align with your school's mission and community expectations.

Evaluating the success of current operations involves looking at enrollment trends, parent and student feedback, and operational efficiency. If your school consistently meets or exceeds enrollment targets, receives positive feedback, and operates effectively, it may be time to consider expansion.

Opening additional campuses should be based on clear evidence of demand, a deep understanding of the target demographic, and the financial health of your existing operation.

Franchising offers a way to expand with lower capital risk, leveraging the entrepreneurial spirit of franchisees. However, it requires a strong brand, proven educational systems, and the ability to support franchisees. Opening owned branches provides more control over educational quality but requires more capital and direct management. Each model has its benefits and challenges, and the choice depends on your strategic goals, resources, and preferred growth path.

Digital channels, including online learning platforms and social media, can significantly enhance a private school's reach and educational offerings. Establishing an online presence allows you to cater to students beyond your immediate geographic location, adapting to the increasing demand for flexible learning options.

This strategy requires an understanding of digital education trends, logistics for virtual classrooms, and maintaining educational quality in a digital environment.

Branding is crucial as it differentiates your school in a competitive market. A strong, consistent brand identity across all campuses and platforms can enhance community loyalty and attract new families. Strengthen your brand by ensuring that every interaction reflects your school's values, culture, and commitment to educational excellence.

Maintaining consistency across multiple campuses is challenging but essential. This can be achieved through comprehensive operational manuals, teacher training programs, and quality control systems.

Regular visits and audits, along with fostering a strong, shared culture, help ensure each campus upholds the standards that contributed to your original site's success.

Financial metrics and business benchmarks indicating readiness for expansion include consistent profitability, a robust cash flow, and meeting or exceeding enrollment projections over a significant period.

Additionally, having a scalable business model and the operational capacity to support growth is crucial.

Partnerships with other educational institutions and participation in community events can introduce your school to new families and markets. These opportunities allow for creative collaboration, community engagement, and brand visibility, contributing to your school's growth.

Scaling educational services to meet increased demand involves considerations such as faculty recruitment, facility upgrades, and possibly expanding your campus. Ensuring that your educational delivery can handle the increased volume without sacrificing quality is key.

Finally, it's essential that your expansion efforts stay true to your school's core values and long-term vision. Growth should not come at the expense of the educational integrity and community trust that made your school successful in the first place.

Regularly revisiting your business plan and values can help ensure that your expansion strategies align with your vision and mission, sustaining the essence of your private school as it grows.

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How to Start a School

Starting Your Own School

Anyone can start a school. All you need is an idea and the drive to make it happen. But there are a few things you need to know before you get started. In this article, we will outline the steps you need to take, the permits and licenses you need, and how to find funding.

Importantly, a critical step in starting a school is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

14 Steps to Starting a School

Choose the name for your school.

The first step to starting a new school is to choose your school’s business name.

This is a very important choice since your business name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your school:

• Make sure the name is available . Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
• Keep it simple . The best names are usually ones that are easy to remember, pronounce and spell.
• Think about marketing . Come up with a name that reflects the desired brand and/or focus of your school.

Develop Your School Business Plan

One of the most important steps in starting a school is to develop your business plan. The purpose of a business plan is to ensure that you fully understand your market and your strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your school.

Your business plan should include the following sections:

• Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your school.
• Company Overview – this section tells the reader about the history of your school and what type of school you operate. For example, are you a private school, religious school, charter school, boarding school, Montessori school, or a type of trade school such as a cosmetology school or welding school? You should also include information about the grade levels of your students.
• Industry Analysis – here you will document key information about the education industry. Conduct market research and document how big the industry is and what trends are affecting it.
• Customer Analysis – in this section, you will document who your ideal or target students are and their demographics. For example, how old are they? Where do they live? What do they find important when paying for educational services like the ones you will offer?
• Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage ({i.e., small class size, new facilities, low tuition fees, unique mission or curriculum, etc.)
• Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
• Product : Determine and document what products/services you will offer
• Prices : Document the prices of your products/services
• Place : Where will your school be located and how will that location help you increase sales?
• Promotions : What promotional methods will you use to attract students to your school? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
• Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing and faculty needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
• Administrative Team – this section details the background and key qualifications of your school’s administrative team, key staff members and faculty members and their job descriptions.
• Financial Plan – finally, the financial plan answers questions including the following:
• What startup costs will you incur?
• How will your school make money?
• What are your projected sales and expenses for the next five years?
• Do you need to raise funding to launch your school?

Choose the Legal Structure for Your School

Next you need to choose a legal structure for your school and register it and your business name with the Secretary of State in each state where you operate your school.

Below are the five most common legal structures:

1) Sole proprietorship

A sole proprietorship is a business entity in which the owner of the school and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a school together. The partners share in the profits and losses of the business.

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a school include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a school is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Finish Your Business Plan Today!

Secure startup funding for your school (if needed).

In developing your business plan, you might have determined that you need to raise funding to launch your new school.

Secure a Location for Your School

Having the right space can be important for your school, particularly if you’d like to meet clients there.

To find the right physical space, consider:

• Driving around to find the right areas while looking for “for lease” signs
• Contacting a commercial real estate agent
• Doing commercial real estate searches online
• Telling others about your needs and seeing if someone in your network has a connection that can help you find the right space

Incorporate Your Business at the Guaranteed Lowest Price

We are proud to have partnered with Business Rocket to help you incorporate your business at the lowest price, guaranteed.

Not only does BusinessRocket have a 4.9 out of 5 rating on TrustPilot (with over 1,000 reviews) because of their amazing quality…but they also guarantee the most affordable incorporation packages and the fastest processing time in the industry.

Register Your School with the IRS

Next, you need to register your school with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Open a Business Bank Account

It is important to establish a bank account in your school’s name. This process is fairly simple and involves the following steps:

• Identify and contact the bank you want to use
• Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
• Complete the bank’s application form and provide all relevant information
• Meet with a banker to discuss your school’s needs and establish a relationship with them

Get a Business Credit Card

You should get a business credit card for your school to help you separate personal and school-related expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your school. This includes the name of your school, the address of your school, and the type of school you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Get the Required Business Licenses and Permits

Every state, county and city has different business license and permit requirements.

Nearly all states, counties and/or cities have license requirements including:

• General Business License : getting your Articles of Incorporation as discussed above
• Sales Tax License or Tax-Exempt Status : for selling products and/or taxable services or to establish if you are a nonprofit organization
• Zoning Approval : typically at the city or county level, this provides authorization for construction or use of a school building or land for a particular purpose
• Food Service, Processing and/or Warehouse Licensing : to ensure safe food preparation
• Health Facility Licensing & Certification : to ensure safe rendering of healthcare services
• Fire Department Approval : a process by which the local fire department reviews and approves the installation of a fire alarm system.

Get Business Insurance for Your School

Other business insurance policies that you should consider for your school include:

• General liability insurance : This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
• Commercial auto insurance : If a vehicle is used in your business, this type of insurance will cover if a vehicle is damaged or stolen.
• Workers’ compensation insurance : If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
• Commercial property insurance : This covers damage to your property caused by fire, theft, or vandalism.
• Business interruption insurance : This covers lost income and expenses if your business is forced to close due to a covered event.
• Professional liability insurance : This protects your school against claims of professional negligence.

Buy or Lease the Right School Equipment

The equipment and tools you need will depend on the type of school you start. In general, you will need to buy or lease:

• Classroom furniture and equipment, such as desks, chairs, measuring tools and other items that are necessary for your students
• Lab instruments and equipment, such as microscopes, telescopes, beakers and other supplies that are required to perform experiments in science classes
• Teaching aids for your elementary school teachers
• Office equipment, including computers, printers and other tools that are useful for administration
• Laptop or desktop computers for your students to use in the classroom

Develop Your School Marketing Materials

Marketing materials will be required to attract and retain students to your school.

The key marketing materials you will need are as follows:

• Logo : Spend some time developing a good logo for your school. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
• Website : Likewise, a professional school website provides potential students with information about the products and/or services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how students and families perceive your school.
• Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help students and others find and interact with your school.

Purchase and Setup the Software Needed to Run Your School

Most schools need accounting software and student information systems to manage and track their student enrollment, grades, and schedules.

For accounting, you will need software that can generate invoices and track inventory and expenses. Your software should also allow you to create purchase orders and track vendor discounts. While there are many different software options available, some of the most popular programs for accounting include QuickBooks and Xero.

Most schools require their teachers to use a student information system (SIS). An SIS is a centralized database that manages class rosters, attendance records, grades, and more.

The right SIS will make your job as a school administrator easier, improve the efficiency of record keeping and reporting, and provide valuable insights into your students’ learning experiences.

Open for Learning

How much does it cost to start a school.

In general, the costs for starting a new school can range from $200,000 to $1,000,000 depending on the type of school you are starting.

The cost of starting a school will generally include:

• Inventory and equipment rentals for traditional lab-based classes
• Curriculum design and books
• Marketing expenses
• Licenses and permits
• Business insurance
• Administrative overhead (salaries for your administration team, staff and faculty, computers, software licenses)

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34+ SAMPLE School Business Plan in PDF | MS Word | Google Docs | Apple Pages

School business plan | ms word | google docs | apple pages, 34+ sample school business plan, what is a school business plan, benefits of a school business plan, how to write a school business plan, why are the mission statement and vision statement important, what is the use of school business plan.

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New School Business Plan

Step 1: school overview, step 2: executive summary, step 3: school services.

• Literacy services
• Numeracy services
• Meeting accreditation standards
• Foundations in science and mathematics
• Foundations in geography and history
• Giving extracurricular activities
• Giving books and school materials

Step 4: Mission Statement and Vision Statement

Step 5: job description, step 6: swot analysis.

• Strengths – What is the ace of your school against your competitors?
• Weaknesses – On what aspects are your school lacking?
• Opportunities – Where does your school excel in teaching?
• Threats – What can make a student leave your school?

Step 7: Market Research

Step 8: sales plan, step 9: publicity plan, step 10: school budget, share this post on your network, you may also like these articles.

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Home » Sample Business Plans » Education » School

How to Write a Charter School Business Plan [Sample Template]

Are you about starting a charter school? If YES, here is a complete sample charter school business plan template & feasibility report you can use for FREE . A charter school is an independently operated public school that has greater flexibility in its mode of operation, in return for greater accountability for performance.

A charter school system is a local school district that operates under the terms of a charter between the State Board of Education and the local school district. The system receives flexibility from certain state rules and regulations in exchange for greater accountability with greater emphasis on school-based leadership and decision-making.

The basic difference between charter schools and other public schools is that charter schools are classified as public schools of choice. Furthermore, it is the practice for charter schools to be held accountable for academic results and for upholding the promises they made in their charters.

As a matter of fact, they are required to demonstrate performance in the areas of academic achievement, financial management, and organizational stability. This is so because if a charter school fails to meet the set performance goals, the school is likely going to be closed down.

A Sample Charter School Business Plan Template

1. industry overview.

Charter schools offer primary- and secondary-level education funded by public sources, but are afforded more flexibility in curriculum design and implementation than traditional public schools. Charter schools receive the vast majority of their funding from federal, state and local governments, so revenue can fluctuate significantly based on budgetary decisions.

However, many charter schools are funded on a per-pupil basis, allowing schools to increase enrollment without having to worry about financial support. Recent reports released by IBISWORLD shows that over the past five years, the Charter Schools industry has grown by 9.8 percent to reach revenue of $41bn in 2018. In the same timeframe, the number of businesses has grown by 5.6 percent and the number of employees has grown by 8.8 percent.

As a result of explosive growth in charter school interest and enrollment, industry revenue is anticipated to grow at an annualized rate of 9.8 percent over the five years to 2018 to reach $40.8 billion, including a 9.2 percent increase in 2018 alone.

In the united states of America, the Charter Schools industry is indeed a large and thriving industry. Statistics has it that the industry is worth $41 billion, with an estimated growth rate of 9.8 percent annually between 2013 and 2018.

There are about 7,975 registered and licensed (accredited) charter schools scattered all around the United States of America and they are responsible for employing about 427,934 people. Aside from Los Angeles Unified School District which has the largest enrollments, no other charter school can boast of dominating the market; every player in the industry can comfortably compete in the industry.

It is important to state that the barriers to entry into the Charter Schools industry are high. As a matter of fact, the industry is pretty difficult for new entrants to establish themselves. So also, the reputation of the school is of utmost importance, as charter schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

Reputation indeed is imperative to parents’ decisions when shopping for charter school for their wards. This is so because the quality of education cannot be assessed until after it is complete. As a major marketing tool, schools need to show parents a track record of admission to elite colleges and universities.

Even though this might seem like a highly competitive industry, the industry is still pretty much open for aspiring school proprietors to still come in and compete. As a matter of fact, if you conduct your research and feasibility studies very well before starting your own charter school, coupled with impressive profile of your faculty members, you are likely going to struggle less to make headway in the industry.

2. Executive Summary

Saint Paul® Community Charter School is a standard co – education charter school that will be located in a well – populated residential estate in Saint Paul – Minnesota, United States of America. We are a standard charter school that is composed of primary (kindergarten through sixth grade) and secondary (seventh through 12th grade) educational institution that will be predominantly co – funded by government and through tuition fees and levies from students and of course from other private sources.

Saint Paul® Community Charter School is a client-focused and result driven charter school that provides broad-based learning approaches and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients (students and parents alike).

We will offer professional teaching services in a highly secured and conducive learning environment to all our students that is primary (kindergarten through sixth grade) and secondary (seventh through 12th grade). We will ensure that we work hard to meet and surpass all our students’ expectations and educational goals whenever they enroll in our charter school.

At Saint Paul® Community Charter School, our students’ overall best interest would always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hire professional educationist cum teachers in various subjects who are well experienced and passionate in imparting knowledge to students at various learning ladder.

Saint Paul® Community Charter School will at all times demonstrate her commitment to sustainability, both individually and as an educational organization, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely.

We have plans in future to also offer learning platforms to people with both learning disability and physical disability (especially the blind, the dumb and the deaf). Our overall business goal is to position our charter school to become the leading special public school brand in the educational industry in the whole of Saint Paul – Minnesota, and also to be amongst the top 10 charter schools in the whole of the United States of America within the first 20 years of operation.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Saint Paul is the right place to launch our charter school.

Saint Paul® Community Charter School is founded by Dr. (Mrs.) Becky Steve – Carson. She is an educationist per excellence and she has won many award in the education sector in the United States. Dr. (Mrs.) Becky Steve – Carson has both academic qualifications and experience to run a charter school that can favorably compete with other leading charter schools.

3. Our Products and Services

Saint Paul® Community Charter School is going to offer varieties of educational services within the United States of America. Our intention of starting our charter school is to soundly educate people in various subjects and of course to make profits from the education industry and we will do all that is permitted by the law in the US to achieve our aim and business goal.

Our service offerings are listed below;

• Teaching basic literacy and numeracy
• Establishing foundations in science, mathematics, geography, history and other social sciences
• Constantly working hard to meet regulatory accreditation standards
• Administering public – private funding efforts
• Providing access to extracurricular activities
• Retailing of Educational Books and Materials

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive charter school that will become the number one choice for both parents and students in the whole of Saint Paul – Minnesota.
• Our mission is to provide professional and conducive learning environment to students at different levels of learning.
• Our overall business goal is to position Saint Paul® Community Charter School to become the leading charter school in the educational cum charter school industry in the whole of Saint Paul – Minnesota, and also to be amongst the top 10 charter schools in the United States of America within the first 20 years of operation.

Our Business Structure

It is a known fact that the success of any business is to a larger extent is dependent on the business structure of the organization and the people who occupy the available roles in the organization. Saint Paul® Community Charter School will build a solid business structure that can support the growth of our charter school. We will ensure that we hire competent hands to help us build the charter school of our dream.

The fact that we want to become one of the leading charter schools in the industry in the whole of the United States of America makes it necessary for our organization to deliberately build a well – structured business from the onset. Below is the business structure that we will build Saint Paul® Community Charter School;

• Head of The Charter school (School Proprietress)

School Administrator

Tutors for Various Subjects – Secondary (seventh through 12th grade)

Tutors for Various Subjects – Primary (kindergarten through sixth grade)

• Accountant / Bursar
• Client Service Executive / Front Desk Officer

Security Officers

5. Job Roles and Responsibilities

Head of the Charter school/School Coordinator:

• Responsible for providing direction for the college
• Responsible for fixing fees and signing business deals (partnership)
• Responsible for signing checks and documents on behalf of the charter school
• Coordinates all arms of the charter school
• Evaluates the success of the charter school
• Reports to the board of the charter school
• Responsible for overseeing the smooth running of HR and administrative tasks for the charter school
• Designs job descriptions with KPI to drive performance management for tutors (teachers)
• Maintains office supplies by checking stocks; placing and expediting orders
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily activities of the charter school.
• Effectively teach subject/subjects as assigned by the school administrator
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the charter school
• Contributes his / her quota towards growing the charter school
• Receives complaints from parents and channel it to the appropriate quarters
• Handles any other duty as assigned by the school administrator.
• Effectively teaches subject / subjects as assigned by the school administrator
• Teaches basic literacy and numeracy
• Establishes foundations in science, mathematics, geography, history and other social sciences
• Ensures that students abide by the rules and regulations of the school administrator
• Contributes his/her quota towards growing the charter school

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase growth for the school

School Bursar (Accountant)

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for Saint Paul® Community Charter School
• Serves as internal auditor for Saint Paul® Community Charter School

Client Service Executive

• Welcomes/receive parents and students by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with parents and students (e-mail, walk-In center, SMS or phone) provides the parents and students with a personalized customer service experience of the highest level
• Through interaction with parents and students on the phone, uses every opportunity to build parent’s interest in the schools’ products and services
• Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to parents and students when they make enquiries
• Receives parcels / documents for Saint Paul® Community Charter School
• Distributes mails in the organization
• Handles any other duties as assigned by the School Administrator.
• Responsible for cleaning the school facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Handles any other duty as assigned by the school administrator
• Ensures that the school facility is secured at all times
• Controls traffic and organize parking
• Patrols the building on a 24 hours’ basis
• Submits security reports weekly
• Any other duty as assigned by the school administrator.

6. SWOT Analysis

Saint Paul® Community Charter School engaged the services of a core professional in the area of business consulting and structuring with bias in the education sector to assist us in building a well – structured charter school that can favorably compete in the highly competitive education industry in the United States.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Saint Paul® Community Charter School. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Saint Paul® Community Charter School;

As a charter school, our core strength lies in the power of our team; our workforce. We have a team with excellent qualifications and experience in the educational sector. We are well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors and welcome students for enrollment.

As a new charter school in Saint Paul – Minnesota, it might take some time for our organization to break into the market and gain acceptance via reputation in the already saturated education cum charter schools industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the education cum charter schools industry is massive considering the number of parents who would want their wards to perform excellently in their education and go ahead to be admitted in Ivy league colleges. As a standard charter school, Saint Paul® Community Charter School is ready to take advantage of any opportunity that comes her way.

Some of the threats that we are likely going to face as a charter school operating in the United States of America are unfavorable government policies that might affect charter schools, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending / purchasing power.

7. MARKET ANALYSIS

• Market Trends

The trend in the charter school line of business is that the keys to attracting students is the educational performance and the pass rate of their students in national exams. Any charter school that has good records will always thrive. The demand for charter schools are driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location.

In some cases, students with special needs cannot cope in public schools hence the need for charter schools. Private schooling offers an alternative for households with higher income, as these institutions often come with a high price tag.

Rising household income levels increase enrollment in private schools, potentially hampering enrollment in charter schools. In 2018, the number of households earning more than $100,000 is expected to increase, representing a potential threat to the industry.

Charter schools are overwhelmingly located in urban areas. Over one-half of all charter school students reside in urban environments, compared with less than one-third of students at traditional public schools. Growth in the percentage of the overall population living in urban areas increase demand for charter schools. The US urban population is expected to increase in 2018, representing a potential opportunity for the industry.

The economic downturn hasn’t really affected this industry, especially in countries that believe in the efficacy of education. The areas you would need to spend heavily on is in ensuring that your school is up to standard, your advertisements, and on insurance policy cover.

Lastly, it is trendier to find charter schools engaging in extra – curricular activities and as a matter of fact, a charter school that thrives in sports can leverage on that to attract students who are sports inclined.

8. Our Target Market

As a standard charter school, Saint Paul® Community Charter School is going to offer varieties of educational services. Our intention of starting our charter school is to soundly educate people in various subjects and of course to make profits from the industry

Our target market as a charter school cuts across people of different class and cultural background whether African, White, Caucasian, Latinos, Indians, and Asians. We will work with the students at different learning stages residing in and around Saint Paul – Minnesota.

Our competitive advantage

Indeed, the charter schools industry is highly competitive and the entry barriers are high. As a matter of fact, it is pretty difficult for new entrants to establish themselves. So also, the reputation of the charter school is of utmost importance, as charter schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

With this, it is obvious that a new entrant in to the charter school industry cannot offer this. Reputation indeed is imperative to parents’ decisions when shopping for charter schools for their wards because the quality of education cannot be assessed until after it is complete. As a major marketing tool, schools need to show parents a track record of admission to elite colleges and universities.

We are quite aware that to be highly competitive in the education cum charter schools industry means that you should be able to deliver consistent quality service, your students should be able to experience remarkable difference and improvement and you should be able to meet the expectations of both students and parents alike.

Saint Paul® Community Charter School might be a new entrant into the education cum charter schools industry in the United States of America, but the management staff of the charter school are licensed and highly qualified educationists/teachers at various levels of learning in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Saint Paul® Community Charter School is established with the aim of maximizing profits in the education cum charter schools industry and we are going to go all the way to ensure that we do all it takes to attract students on a regular basis.

Saint Paul® Community Charter School will generate income by offering the following tutorial services;

• Teaching High school students various subjects in our charter school
• Administering private funding efforts

10. Sales Forecast

One thing is certain, there would always be parents and students who would need the services of charter schools, and as such the services of charter schools will always be needed.

We are positioned to take on the available market in Saint Paul – Minnesota and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the charter school and our student base.

We have been able to examine the charter school market in the United States of America, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below is the sales projection for Saint Paul® Community Charter School, it is based on the location of our tutorial center and of course the wide range of educational cum learning services that we will be offering;

• First Fiscal Year: $250,000
• Second Fiscal Year: $450,000
• Third Fiscal Year: $750,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown within the period stated above. Also, there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there are stiff competitions amongst charter schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing concerns.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to meet their targets and the overall goal of the charter school. We will also ensure that our students’ excellent results from national exams and other exams speak for us in the market place.

Our goal is to grow our charter school to become one of the top 10 charter schools in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Saint Paul – Minnesota but also in other cities in the United States of America.

Saint Paul® Community Charter School is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our charter school by sending introductory letters alongside our brochure to schools, parents/households and key stake holders in Saint Paul – Minnesota.
• Print out fliers and business cards and strategically drop them in schools, libraries and even student organizations.
• Creating a website allows parents to be able to look you up, and also allows you to post general study tips, giving you an added advantage.
• Use friends and family to spread word about your charter school
• Introduce Saint Paul® Community Charter School to learning specialists, school coaches, school administrators, teachers, guidance counselors especially as they are with students everyday
• Post information about Saint Paul® Community Charter School on bulletin boards in places like schools, libraries, and local coffee shops.
• Place a small or classified advertisement in the newspaper, or local publication about Saint Paul® Community Charter School
• Use tutorial referral networks such as agencies that will help match students with Saint Paul® Community Charter School
• Join relevant association or body that will enable you network and meet others in same industry.
• Advertise online by using an advertising platform such as Google AdWords, that will allow us place text advertisements alongside on websites with related contents, and along results from search engines.
• Advertise our charter school in relevant educational magazines, newspapers, TV and radio stations.
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We are aware of the potency of a good publicity strategy hence we have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both parents and students in the whole of Saint Paul – Minnesota which is why we have made provisions for effective publicity and advertisement of our charter school. Below are the platforms we intend to leverage on to promote and advertise Saint Paul® Community Charter School;

• Place adverts on both print (community based newspapers and educational magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
• Install our billboards in strategic locations all around Saint Paul – Minnesota.
• Distribute our fliers and handbills in target areas in and around Saint Paul – Minnesota
• Passing general information via our school’s social media handles like twitter, Facebook, Google hangouts etc.
• Ensure that all our teaching and non – teaching staff wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.

12. Our Pricing Strategy

Charter schools in the United States of America charge students per term/per session and students have the options of either paying their tuitions before resumption or during the school session. Charter schools generally charge students based on loads of factors such as service offerings and extra – curricular activities et al.

At Saint Paul® Community Charter School, we will keep our fees below the average market rate. In addition, we will also offer special discounted rates to all our students at regular intervals. We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs.

• Payment Options

The payment policy adopted by Bob Russel & Co® Motivational Speaking Company, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Bob Russel & Co® Motivational Speaking Company, LLP will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via mobile money
• Payment via check

In view of the above, we have chosen banking platforms that will enable our client make payment for services rendered without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients.

13. Startup Expenditure (Budget)

In setting up a charter school business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by acquiring a large facility, then you would need a higher amount of capital as you need to ensure that your employees are taken care of, and that your charter school’s environment is conducive enough for the students to learn.

The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. However, this is what it would cost us to start Saint Paul® Community Charter School in the United of America;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring a large facility that will accommodate the number of clases, playing field, staff offices and parking lots et al (Re – Construction of the facility inclusive) will cost – $350,000.
• Equipping the classes and office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $50,000
• Launching an official website will cost – $500
• The budget for the payment of salaries for the first three months of operations: $120,000
• Additional Expenditure such as Running cost, Business cards, Signage, Adverts and Promotions will cost – $45,000

Going by the market survey and feasibility studies conducted, we came to the conclusion that we will need an average of $750,000 to start a small scale but standard charter school in the United States of America.

Generating Funds/Startup Capital for Saint Paul® Community Charter School

Saint Paul® Community Charter School will be owned and managed by Dr. (Mrs.) Becky Steve – Carson. She decided to restrict the sourcing of the startup capital for the charter school to just three major sources.

• Generate part of the startup capital from personal savings and sale of stocks
• Generate part of the startup capital from government, friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $250,000 ( Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of securing $200,000 education grant from the Government an also obtaining a loan facility of $300,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is a known fact that the future of any business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and of course business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Saint Paul® Community Charter School is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to ensure that we offer nothing less than the best to all our students so much so that they can favorably compete and gain admission into Ivy League colleges.

Saint Paul® Community Charter School will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Securing a standard facility large enough to accommodate our design: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Schools’ Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the school: In Progress
• Creating Awareness for the charter school in Saint Paul – Minnesota: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the education industry: In Progress

More on School

School Strategic Plan

According to Statista, colleges in the United States, whether public or private, expect a high enrollment rate projected up to 14.89 and 5.22 million respectively by 2029. If you wish to be a part of this projection, you will need to develop a great strategy to draw in those students. To guide the endeavors of your school, think about your goals and objectives as an institute. That way, you can process them to design a school strategic plan .

13+ School Strategic Plan Examples

1. simple school strategic plan.

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2. Educational Strategic Plan Template

3. Academic Strategic Plan Template

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5. Strategic Plan for Secondary College Template Example

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6. Primary School Strategic Plan Format Example

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Creating a school  strategic plan  can be tedious and challenging especially considering the number of stakeholders that must take part in the planning, development, implementation, and evaluation processes of the document.

If you want to have a strategic plan for your school but you do not know the processes that you need to follow or the guidelines that you need to be aware of, make sure to browse through the entire post so you can see downloadable examples, tips, and recommendations that you can use as references. You may also see  weekly plan examples & samples .

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12. Strategic Plan for High School Example

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14. 5-Year High School Strategic Plan Example

What is a School Strategic Plan?

As its name would suggest, it is a document containing plans and strategies on how a school can reach their goals and objectives. A school strategic plan is beneficial when it comes to identifying the vision and goals that the school would like to achieve.

How to Draft a School Strategic Plan

It may sound overwhelming, but knowing all the factors that you will be working with when making a school strategic plan can make it easy for you to understand how to create a document that fits the needs and demands of the school. If this is your first time creating a school strategic plan, here are some useful tips that you can follow.

1. Write Down Your Priorities

Write about the things you already know about your school. Start with the mission and the vision of your school. Specify what your school works or needs improvement is. Once you have written them all down, you will be able to figure out what your objectives should be and make it easy for you to make your school strategic plan.

2. Set a Timeline

Have a timeline that will allow you to know when to implement a school strategic plan and when to expect specific results. Be specific when listing down all the strategies, tactics, and general action plans that you will designate in various time frames.

3. Designate the Work

Provide an idea of the workforce that you will need to implement the school’s strategic plan’s content. You have to be particular with whom you are giving responsibilities. You can write down who in the teaching staff is ideal for which department and who should be a part of the leadership when it comes to implementation. This will help you be a lot more specific on how to put your plans into action.

4. Consider Your Resources

Consider the budget allocation and other financial issues that you need to face when making the school strategic plan. This is important as it can dictate the attainability and sustainability of the school’s strategic plan. Knowing how you will use the school resources is crucial so that you can put limits when spending or allocating resources to achieve an action plan.

FAQ’s

Who creates the school strategic plan.

The creation of a school strategic plan depends on who runs the school. Often the principal themselves can come up with the system, but there are cases where the teaching staff or the board of directors has a strategic plan.

Why is it essential for a school to have a strategic plan?

When a school has a strategic plan, that means they have a goal that they can work towards, when they have something to achieve that can help them make decisions and take action plans. For example, if a high school seeks to be successful, this can lead to their students receiving a high-quality education to enable that plan.

What makes a school strategic plan different from a school syllabus?

A school strategy refers to the business planning of the school. A school syllabus is the outline of lessons and content that you can expect from a class. The former affects the whole school while the latter involves a particular classroom only.

Do not let the long process of developing a school strategic plan intimidate you. As long as you know the basics that can help you make an effective document, you will have an easy time making it—achieving the creation of a form that can make your school more productive and proactive.

Text prompt

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Create a study plan for final exams in high school

Develop a project timeline for a middle school science fair.

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Business Plan: What It Is + How to Write One

Discover what a business plan includes and how writing one can foster your business’s development.

What is a business plan? 

A business plan is a written document that defines your business goals and the tactics to achieve those goals. A business plan typically explores the competitive landscape of an industry, analyzes a market and different customer segments within it, describes the products and services, lists business strategies for success, and outlines financial planning.  

In your research into business plans, you may come across different formats, and you might be wondering which kind will work best for your purposes. 

Let’s define two main types of business plans , the traditional business pla n and the lean start-up business plan . Both types can serve as the basis for developing a thriving business, as well as exploring a competitive market analysis, brand strategy , and content strategy in more depth. There are some significant differences to keep in mind [ 1 ]: 

The traditional business plan is a long document that explores each component in depth. You can build a traditional business plan to secure funding from lenders or investors. 

The lean start-up business plan focuses on the key elements of a business’s development and is shorter than the traditional format. If you don’t plan to seek funding, the lean start-up plan can serve mainly as a document for making business decisions and carrying out tasks. 

Now that you have a clear business plan definition , continue reading to begin writing a detailed plan that will guide your journey as an entrepreneur.  

How to write a business plan 

In the sections below, you’ll build the following components of your business plan:

Executive summary

Business description 

Products and services 

Competitor analysis 

Marketing plan and sales strategies 

Brand strategy

Financial planning

Explore each section to bring fresh inspiration to the surface and reveal new possibilities for developing your business. You may choose to adapt the sections, skip over some, or go deeper into others, depending on which format you’re using. Consider your first draft a foundation for your efforts and one that you can revise, as needed, to account for changes in any area of your business.  

Read more: What Is a Marketing Plan? And How to Create One

1. Executive summary 

This is a short section that introduces the business plan as a whole to the people who will be reading it, including investors, lenders, or other members of your team. Start with a sentence or two about your business, your goals for developing it, and why it will be successful. If you are seeking funding, summarize the basics of the financial plan. 

2. Business description 

Use this section to provide detailed information about your company and how it will operate in the marketplace. 

Mission statement: What drives your desire to start a business? What purpose are you serving? What do you hope to achieve for your business, the team, your customers? 

Revenue streams: From what sources will your business generate revenue? Examples include product sales, service fees, subscriptions, rental fees, license fees, and more. 

Leadership: Describe the leaders in your business, their roles and responsibilities, and your vision for building teams to perform various functions, such as graphic design, product development, or sales.  

Legal structure: If you’ve incorporated your business or registered it with your state as a legal entity such as an S-corp or LLC, include the legal structure here and the rationale behind this choice. 

3. Competitor analysis 

This section will include an assessment of potential competitors, their offers, and marketing and sales efforts. For each competitor, explore the following: 

Value proposition: What outcome or experience does this brand promise?

Products and services: How does each one solve customer pain points and fulfill desires? What are the price points? 

Marketing: Which channels do competitors use to promote? What kind of content does this brand publish on these channels? What messaging does this brand use to communicate value to customers?  

Sales: What sales process or buyer’s journey does this brand lead customers through?

Read more: What Is Competitor Analysis? And How to Conduct One

4. Products and services

Use this section to describe everything your business offers to its target market . For every product and service, list the following: 

The value proposition or promise to customers, in terms of how they will experience it

How the product serves customers, addresses their pain points, satisfies their desires, and improves their lives

The features or outcomes that make the product better than those of competitors

Your price points and how these compare to competitors

5. Marketing plan and sales strategies 

In this section, you’ll draw from thorough market research to describe your target market and how you will reach them. 

Who are your ideal customers?   

How can you describe this segment according to their demographics (age, ethnicity, income, location, etc.) and psychographics (beliefs, values, aspirations, lifestyle, etc.)? 

What are their daily lives like? 

What problems and challenges do they experience? 

What words, phrases, ideas, and concepts do consumers in your target market use to describe these problems when posting on social media or engaging with your competitors?  

What messaging will present your products as the best on the market? How will you differentiate messaging from competitors? 

On what marketing channels will you position your products and services?

How will you design a customer journey that delivers a positive experience at every touchpoint and leads customers to a purchase decision?

Read more: Market Analysis: What It Is and How to Conduct One   

6. Brand strategy 

In this section, you will describe your business’s design, personality, values, voice, and other details that go into delivering a consistent brand experience. 

What are the values that define your brand?

What visual elements give your brand a distinctive look and feel?

How will your marketing messaging reflect a distinctive brand voice, including the tone, diction, and sentence-level stylistic choices? 

How will your brand look and sound throughout the customer journey? 

Define your brand positioning statement. What will inspire your audience to choose your brand over others? What experiences and outcomes will your audience associate with your brand? 

Read more: What Is a Brand Strategy? And How to Create One

7. Financial planning  

In this section, you will explore your business’s financial future. If you are writing a traditional business plan to seek funding, this section is critical for demonstrating to lenders or investors that you have a strategy for turning your business ideas into profit. For a lean start-up business plan, this section can provide a useful exercise for planning how you will invest resources and generate revenue [ 2 ].  

Use any past financials and other sections of this business plan, such as your price points or sales strategies, to begin your financial planning. 

How many individual products or service packages do you plan to sell over a specific time period?

List your business expenses, such as subscribing to software or other services, hiring contractors or employees, purchasing physical supplies or equipment, etc.

What is your break-even point, or the amount you have to sell to cover all expenses?

Create a sales forecast for the next three to five years: (No. of units to sell X price for each unit) – (cost per unit X No. of units) = sales forecast

Quantify how much capital you have on hand.

When writing a traditional business plan to secure funding, you may choose to append supporting documents, such as licenses, permits, patents, letters of reference, resumes, product blueprints, brand guidelines, the industry awards you’ve received, and media mentions and appearances.

Business plan key takeaways and best practices

Remember: Creating a business plan is crucial when starting a business. You can use this document to guide your decisions and actions and even seek funding from lenders and investors. 

Keep these best practices in mind:

Your business plan should evolve as your business grows. Return to it periodically, such as every quarter or year, to update individual sections or explore new directions your business can take.

Make sure everyone on your team has a copy of the business plan and welcome their input as they perform their roles. 

Ask fellow entrepreneurs for feedback on your business plan and look for opportunities to strengthen it, from conducting more market and competitor research to implementing new strategies for success. 

Start your business with Coursera 

Ready to start your business? Watch this video on the lean approach from the Entrepreneurship Specialization : 

Article sources

1. US Small Business Administration. “ Write Your Business Plan , https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan." Accessed April 19, 2022.

2. Inc. " How to Write the Financial Section of a Business Plan ,   https://www.inc.com/guides/business-plan-financial-section.html." Accessed April 14, 2022.

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This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

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What is the Wharton School? Kamala Harris, Donald Trump name-drop UPenn business school

Democratic presidential nominee and Vice President Kamala Harris name-dropped the Wharton School during Tuesday's presidential debate against former President Donald Trump at the National Constitution Center in Philadelphia .

Here's what you need to know about the Wharton School at the University of Pennsylvania.

What is the Wharton School?

The Wharton School is the University of Pennsylvania's undergraduate business program.

"Wharton offers a comprehensive undergraduate business program together with extensive study in the liberal arts and sciences, enabling students to pursue highly customized business degrees," read the Wharton School's admission website. "We’re one of just a few business schools with a curricular flexibility that offers students the opportunity to study abroad.  

"Wharton faculty are committed to teaching a global perspective in business practice. Our world-renowned business faculty teaches undergraduate, master’s, and PhD candidates."

The concentrations at the Wharton School range from accounting and behavioral economics to real estate and statistics.

What did Kamala Harris, Donald Trump say about the Wharton School?

During Tuesday's debate, Kamala Harris said that several economists at the Wharton School warned of the fiscal dangers a Donald Trump presidency would bring.

Countering, Donald Trump said he knew most of those professors and economists, and said that many of the one the former president spoke with endorsed his fiscal approach.

Damon C. Williams is a Philadelphia-based journalist reporting on trending topics across the Mid-Atlantic Region.

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You are here, winners announced for 2024 milken–penn gse education business plan competition.

Seven finalists pitched their ventures live at the HolonIQ Back to School Summit in New York City.

Jackie Jircitano, Catalyst @ Penn GSE Communications [email protected]

*Note for TV and radio: The University of Pennsylvania has an on-campus ISDN line and ready access to a satellite uplink facility with live-shot capability.

NEW YORK CITY—SAY IT Labs captured the $40,000 grand prize at the 15th annual Milken-Penn GSE Education Business Plan Competition (EBPC) today in New York City. The venture also earned the most live votes to win the Osage Venture Partners Audience Choice Prize.

Other winners include  Saturday Art Class, which won the $25,000 Cognitive Inc. Prize, and Honest Game, which received the Magnitude Digital Prize .

Seven finalists pitched their ventures to a live judging panel as well as an audience of investors, researchers, and practitioners. The final competition was a keystone event of the HolonIQ’s 2024 Back to School Summit.

Considered the most prestigious and well-funded competition of its kind, the EBPC attracts innovative education ventures from around the world. To date, the EBPC has awarded over $2 million dollars in cash and prizes. Winners and finalists have gone on to earn more than $200 million in funding.

The 2024 EBPC winners:

• SAY IT Labs captured the $40,000 Michael & Lori Milken Family Foundation Grand Prize.
• Saturday Art Class won the $25,000 Cognativ Inc. Prize.
• Honest Game earned the $10,000 Magnitude Digital Prize.
• SAY IT Labs also collected the $5,000 Audience Choice Prize presented by Osage Venture Partners.
• The finalists also received a portion of $50,000 in Amazon Web Services credits and $1,500 cash each from Catalyst @ Penn GSE.

“The innovative solutions presented by this year's winners are a testament to the enormous potential of the future of education,” said Michael Golden, Vice Dean of Innovative Programs and Partnerships at the University of Pennsylvania Graduate School of Education. “These entrepreneurs are not only addressing today's challenges but are also paving the way for the next generation of learners. Their success is a reflection of the creativity and commitment that drives the education sector forward.”

Last year’s EBPC winners were Unlocked Labs, Skizaa, Storyshares, and EdVisorly.

The EBPC is made possible through the generous support of the Michael and Lori Milken Family Foundation, Cognativ, Inc., Magnitude Digital, Osage Venture Partners, and Amazon Web Services.

Penn GSE is one of the nation’s premier research education schools. No other education school enjoys a university environment as supportive of practical knowledge-building as the Ivy League’s University of Pennsylvania. The School is notably entrepreneurial, launching innovative degree programs for practicing professionals and unique partnerships with local educators, and the first-ever business plan competition devoted exclusively to educational products and programs. The EBPC is part of Catalyst @ Penn GSE , a collection and facilitator of unique, innovative initiatives at Penn GSE aimed at addressing persistent and emerging problems in education.

Find more on educationcompetition.org or follow the conversation on Twitter: @CatalystPennGSE and #MilkenPennGSE .

You May Be Interested In

Related topics, faculty expert.

Vice Dean of Innovative Programs and Partnerships, Catalyst @ Penn GSE

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Media inquiries.

Penn GSE Communications is here to help reporters connect with the education experts they need.

Kat Stein Executive Director of Penn GSE Communications (215) 898-9642 [email protected]  

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"I went to the Wharton School of Finance": Harris getting Trump flustered makes for great TV

Apparently, people are out there just eating cats and stuff harris' reactions to trump at the debate launch memes, by nardos haile.

Vice President Kamala Harris flexed her knowledge on domestic economic policy while aiming at Donald Trump's  education at their first debate on Tuesday evening. And it was hilarious.

Early on in the debate, moderator and ABC News anchor David Muir asked Harris and Trump whether the American economy was better off now versus four years ago.

The opponents snarled their teeth at each other, with Harris making a dig at Trump's alma mater, the University of Pennsylvania's Wharton School of Business. The former president and Republican nominee graduated from Wharton in 1968. The Washington Post reported that Trump's brother Fred Trump Jr. and his father Fred Trump Sr. helped Trump get into the prestigious business school. Harris went to undergraduate college at Howard University.

Harris started, "What I'm offering is an opportunity economy, and the best economists in the country — if not in the world — have reviewed our relative plans for the future of America. What Goldman Sachs has said is that Donald Trump would make the economy worse. Mine would strengthen the economy."

She looked mostly like this while saying it — eyes askance, either pre-or-post hand on chin — a vibe, nay, a mood that she carried throughout most of the debate.

At that point, she continued, "What the Wharton School said is Donald Trump's plan would actually explode the deficit. Sixteen Nobel Laureates described his economic plan as something that would increase inflation by the middle of next year and would invite a recession."

However, Trump responded, "I went to the Wharton School of Finance, and many of those professors — the top professors — think my plan is a brilliant plan. It's a great plan."

Katy Milkman, a Wharton professor, tweeted on X after the back-and-forth between the opponents, "Hi! @wharton Prof here. Show me the many colleagues who say Trump’s plan is any good? I count 0!"

And if that doesn't sound as wild as it was, factor in Trump rambling on about people eating cats, executing babies, "transgender operations on illegal aliens that are in prison" and no fracking in Pennsylvania.

A24 could never.

Private School Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Education Sector » Schooling

Are you about starting a private school (nursery, primary or high school)? If YES, here’s a complete sample private school business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a private school. We also took it further by analyzing and drafting a sample private school marketing plan template backed up by actionable guerrilla marketing ideas for private schools. So let’s proceed to the business planning section.

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One of the best things that can happen to anyone is to have a private school. This is one very lucrative business that will continue to rake in money for its owners. As an aspiring entrepreneur who is looking towards starting a business, you should ensure that whatever business you intend to start, you make sure that it is located in an appropriate place.

For example; if you want to start a private school, it will be a wrong business judgment if you decide to site the school close to an industrial area or close to a market. Aspiring entrepreneurs therefore are urged as a matter of necessity to ensure that they carry out a thorough market research and feasibility study of the industry they intend to go into before investing their hard earned money and time.

It is known fact that the demand for private schools is driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location. In some cases, students with special needs cannot cope in public schools hence the need for private schools.

If you think starting a private school business sounds like what you want to do. Then you may want to use the business plan below as a guide.

A Sample Private School Business Plan Template

1. industry overview.

Private schools which is also known in the united states as independent schools, non-governmental, or non – state schools are schools that are not administered by either the local, state or the federal governments; hence, they have the right to select their students and are funded in whole or in part by charging their students tuition fees, rather than relying on mandatory taxation through public (government) funding.

Some private schools have structure in place that offer scholarships to some students, which makes the cost cheaper, depending on a talent such as sport scholarship, art scholarship, academic scholarship the student may be brining to the private school, financial need, or tax credit scholarships that might be available.

The Private Schools industry comprises of primary that is kindergarten through sixth grade and secondary that is seventh through 12th grade) educational institutions that are predominantly funded through enrollment and tuition fees from students and of course from other private sources.

Recent reports released by IBISWORLD shows that the revenue for the Private Schools industry is expected to increase, as the economy continues to recover. The indicated that during the five years to 2016, enrollment decreased, which was a trend attributable to rising costs and competition from charter schools.

However, going forward, in the next five years, household income is anticipated to increase, making it easier for families to afford private-school tuition. Additionally, enrollment declines will lesson, resulting in more stable demand for private schools

In the United States of America and of course in most countries of the world, The Private Schools industry is indeed a large and thriving industry. Statistics has it that The Private Schools industry in the United States of America, is worth $52 billion, with an estimated growth rate of 0.1 percent.

There are about 25,742 registered and licensed (accredited) Private schools scattered all around the United States of America and they are responsible for employing about 644,320 people.

Aside from Catholic schools, which is the second largest sector after government schools, with around 21 percent of secondary enrollments, no other private school can boast of dominating the market; every player in the industry can comfortably compete in the industry.

It is important to state that the barriers to entry into the Private Schools industry are high. As a matter of fact, the private school industry is an industry in which it is pretty difficult for new entrants to establish themselves. So also, the reputation of the private school is of utmost importance, as private schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

With this, it is obvious that a new entrant into the private school industry cannot offer this. Reputation indeed is imperative to parents’ decisions when shopping for private school for their wards. This is so because the quality of education cannot be assessed until well after it is complete.

As a major marketing tool, schools need to show parents a track record of admission to elite colleges and universities. Even though this might seem like a saturated industry, the industry is still pretty much open for aspiring school proprietors and proprietress to still come in and compete.

As a matter of fact, if you conduct your research and feasibility studies very well before starting your own private school couple with impressive profile of your faculty members, you are likely going to struggle less to make headway in the industry.

2. Executive Summary

Rolland Gyros International Private School is an international private school that will be located in a well – populated residential estate in Ashville – North Carolina, United States of America.

We are a standard private school that is composed of primary (kindergarten through sixth grade) and secondary (seventh through 12th grade) educational institution that will be predominantly funded through tuition fees and levies from students and of course from other private sources.

Rolland Gyros International Private School is a client-focused and result driven private school that provides broad-based learning approaches and experience at an affordable fee that won’t in any way put a hole in the pockets of our clients (students and parents alike).

We will offer standard and professional teaching services in a highly secured and conducive learning environment to all our students that is primary (kindergarten through sixth grade) and secondary (seventh through 12th grade). We will ensure that we work hard to meet and surpass all our students’ expectations and educational goals whenever they enroll in our tutorial college.

At Rolland Gyros International Private School, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professional educationist cum teachers in various subjects who are well experienced and passionate in imparting knowledge to students at various learning ladder.

Rolland Gyros International Private School will at all time demonstrate her commitment to sustainability, both individually and as an educational organization, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our students.

We have plans to offer learning platforms to people with both learning disability and physical disability (especially the blind, the dumb and the deaf).

Our overall business goal is to position our private school to become the leading tutorial brand in the educational industry in the whole of Ashville – North Carolina, and also to be amongst the top 30 private schools in the United States of America within the first 12 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Ashville is the right place to launch our private school.

Rolland Gyros International Private School is founded by Dr. (Mrs.) Irene Rolland Gyros and family. She is an educationist per excellence and she has won many awards in the education sector in the United States.

Dr. (Mrs.) Irene Rolland Gyros has both the academic qualifications and experience to run a private school that can favorably compete with other leading private schools not only in Ashville – North Carolina, but also throughout the United States and Canada.

3. Our Products and Services

Rolland Gyros International Private School is going to offer varieties of educational services within the scope of the education board in the United States of America.

Our intention of starting our private school is to soundly educate people in various subjects and of course to make profits from the education cum private schools industry and we will do all that is permitted by the law in the US to achieve our aim and business goal. Our service offerings are listed below;

• Teaching basic literacy and numeracy
• Establishing foundations in science, mathematics, geography, history and other social sciences
• Constantly working hard to meet regulatory accreditation standards
• Administering private funding efforts
• Providing access to extracurricular activities
• Retailing of Educational Books and Materials

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive private school that will become the number one choice for both parents and students in the whole of Ashville – North Carolina.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and conducive learning environment to students at different level of learning.
• Our overall business goal is to position Rolland Gyros International Private School to become the leading private school brand in the educational cum private school industry in the whole of Ashville – North Carolina, and also to be amongst the top 30 private schools in the United States of America within the first 12 years of operations.

Our Business Structure

It is a known fact that, the success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available roles in the organization. Rolland Gyros International Private School will build a solid business structure that can support the growth of our private school.

We will ensure that we hire competent hands (teaching and non – teaching staff members) to help us build the private school of our dream.

The fact that we want to become one of the leading private school brand in the industry in the whole of the United States of America makes it highly necessary for our organization to deliberately build a well – structured business from the onset.

We will work hard to ensure that we only attract people with the right mindset to help us achieve our business goals and objectives in record time. Below is the business structure that we will build Rolland Gyros International Private School;

• Head of The Private School(School Proprietress)

School Administrator

Tutors for Various Subjects – Secondary (seventh through 12th grade)

Tutors for Various Subjects – Primary (kindergarten through sixth grade)

• Accountant / Bursar
• Client Service Executive / Front Desk Officer

Security Officers

5. Job Roles and Responsibilities

Head of the Tutorial College / School Coordinator:

• Responsible for providing direction for the college
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals
• Responsible for fixing fees and signing business deals (partnership)
• Responsible for signing checks and documents on behalf of the tutorial college
• Coordinates all arms of the tutorial school (tutorial center, adult education, home tutors and special education)
• Evaluates the success of the tutorial college
• Reports to the board of the tutorial college
• Responsible for overseeing the smooth running of HR and administrative tasks for the tutorial school
• Designs job descriptions with KPI to drive performance management for tutors (teachers)
• Regularly hold meetings with key stakeholders (parents and member of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily activities of the private school.
• Effectively teach subject / subjects as assigned by the school administrator
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the private school
• Contributes his / her quota towards growing the private school
• Receives complaints from parents and channel it to the appropriate quarters
• Handle any other duty as assigned by the school administrator.
• Ensure that students abide by the rules and regulations of the school administrator
• Handles any other duty as assigned by the school administrator.

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the school

School Bursar (Accountant)

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for Rolland Gyros International Private School
• Serves as internal auditor for Rolland Gyros International Private School

Client Service Executive

• Welcomes / receive parents and students by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with parents and students (e-mail, walk-In center, SMS or phone) provides the parents and students with a personalized customer service experience of the highest level
• Through interaction with parents and students on the phone, uses every opportunity to build parent’s interest in the schools’ products and services
• Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to parents and students when they make enquiries
• Receives parcels / documents for Rolland Gyros International Private School
• Distribute mails in the organization
• Handles any other duties as assigned by the School Administrator.
• Responsible for cleaning the school facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the schools facility
• Handles any other duty as assigned by the school administrator
• Ensures that the school facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours basis
• Submits security reports weekly
• Any other duty as assigned by the school administrator

6. SWOT Analysis

Rolland Gyros International Private School engaged the services of a core professional in the area of business consulting and structuring with bias in the education sector to assist us in building a well – structured private school that can favorably compete in the highly competitive education cum private schools industry in the United States.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Rolland Gyros International Private School. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Rolland Gyros International Private School;

As a private school, our core strength lies in the power of our team; our workforce. We have a team with excellent qualifications and experience in the educational sector. We are well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors and welcome students for enrollment.

As a new private school in Ashville – North Carolina, it might take some time for our organization to break into the market and gain acceptance via reputation in the already saturated education cum private schools industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the education cum private schools industry is massive considering the number of parents who would want their wards to perform excellently well in their education and go ahead to be admitted in Ivy league colleges.

As a standard and international private school, Rolland Gyros International Private School is ready to take advantage of any opportunity that comes her way.

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the private school.

Some of the threats that we are likely going to face as a private school operating in the United States of America are unfavorable government policies that might affect private schools, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The trend in the private school line of business is that the key to attracting students is the educational performance and the pass rate of their students in national exams.

Any private school that has good records will always thrive. The demand for private schools is driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location.

In some cases, students with special needs cannot cope in public schools hence the need for private schools. The economic downturn hasn’t really affected this industry, especially in countries that believe in the efficacy of education.

The areas you would need to spend heavily on is in ensuring that your school is up to standard, your advertisements, and on insurance policy cover. Lastly, it is trendier to find private schools engaging in extra – curricular activities and as a matter of fact, a private school that thrives in sports can leverage on that to attract students who are sports inclined.

8. Our Target Market

As a standard and international private school, Rolland Gyros International Private School is going to offer varieties of educational services within the scope of the education board in the United States of America. Our intention of starting our private school is to soundly educate people in various subjects and of course to make profits from the education cum private schools industry

Our target market as a private school cuts across people (students) of different class and people from different culture background whether African, White, Caucasian, Latinos, Indians, and Asians. We are coming into the education cum private schools industry with a business concept that will enable us work with the students at different learning stages residing in and around Ashville – North Carolina.

Our competitive advantage

Indeed the private schools industry is highly competitive and the entry barriers are high. As a matter of fact, the private school industry is an industry in which it is pretty difficult for new entrants to establish themselves. So also, the reputation of the private school is of utmost importance, as private schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

As a major marketing tool, schools need to show parents a track record of admission to elite colleges and universities. We are quite aware that to be highly competitive in the education cum private schools industry means that you should be able to deliver consistent quality service, your students should be able to experience remarkable difference and improvement and you should be able to meet the expectations of both students and parents alike.

Rolland Gyros International Private School might be a new entrant into the education cum private schools industry in the United States of America, but the management staffs and owners of the private school are considered gurus. They are people who are core professionals, licensed and highly qualified educationist / teachers at various levels of learning in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees (teaching and non – teaching staff members) will be well taken care of, and their welfare package will be among the best within our category (startups private school in the United States) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Rolland Gyros International Private School is established with the aim of maximizing profits in the education cum private schools industry and we are going to go all the way to ensure that we do all it takes to attract students on a regular basis. Rolland Gyros International Private School will generate income by offering the following tutorial services;

• Teaching High school students various subjects in our private school

10. Sales Forecast

One thing is certain, there would always be parents and students who would need the services of private schools to be able to achieve their educational goals and as such the services of private schools will always be needed.

We are well positioned to take on the available market in Ashville – North Carolina and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the private school and our student base.

We have been able to critically examine the private schools cum education market in the United States of America and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Ashville – North Carolina. Below is the sales projection for Rolland Gyros International Private School, it is based on the location of our tutorial center and of course the wide range of tutorial services that we will be offering;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. So, there won’t be any major competitor (private school) offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst private schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing concerns. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the private school.

We will also ensure that our students’ excellent results from national exams and other exams speaks for us in the marketplace; we want to build a standard and first – class private school that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our private school to become one of the top 30 private schools in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Ashville – North Carolina but also in other cities in the United States of America.

Rolland Gyros International Private School is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our private school by sending introductory letters alongside our brochure to schools, parents / household and key stake holders in Ashville – North Carolina.
• Print out fliers and business cards and strategically drop them in schools, libraries and even student organizations.
• Creating a website, allows parents to be able to look you up, and also allows you to post general study tips, giving you an added advantage.
• Use friends and family to spread word about our private school
• Introduce Rolland Gyros International Private School to learning specialists, school coaches, school administrators, teachers, guidance counselors especially as they are with students everyday
• Post information about Rolland Gyros International Private School on bulletin boards in places like schools, libraries, and local coffee shops.
• Placing a small or classified advertisement in the newspaper, or local publication about Rolland Gyros International Private School
• Using tutorial referral networks such as agencies that will help match students with Rolland Gyros International Private School
• Joining relevant association or body that will enable you network and meet others in same industry.
• Advertising online by using an advertising platform such as Google Adwords, that will allow us place text advertisements alongside on websites with related contents, and along results from search engines.
• Advertise our private school in relevant educational magazines, newspapers, TV stations, and radio station.
• Attend relevant educational expos, seminars, and business fairs et al
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We are aware of the potency of a good publicity strategy hence we have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both parents and students in the whole of Ashville – North Carolina which is why we have made provisions for effective publicity and advertisement of our private school. Below are the platforms we intend to leverage on to promote and advertise Rolland Gyros International Private School;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Ashville – North Carolina.
• Engage in road show from time to time in targeted neighborhoods in and around Ashville – North Carolina
• Distribute our fliers and handbills in target areas in and around Ashville – North Carolina
• Passing general information via our school’s social media handles like twitter, Facebook, Google hangouts etc.
• Ensure that all our teaching and non – teaching staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.

12. Our Pricing Strategy

Private schools in the United States of America and of course in all the parts of the world charge students per tem / per session and students have the options of either paying their tuitions before resumption or during the school session.

Private schools generally charge students based on loads of factors, locations, services offerings and extra – curricular activities et al At Rolland Gyros International Private School we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance.

In addition, we will also offer special discounted rates to all our students at regular intervals. We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs.

• Payment Options

At Rolland Gyros International Private School, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via mobile money
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

In setting up a private school business, the amount or cost will depend on the approach and scale you want to undertake.

If you intend to go big by acquiring a large facility, then you would need a higher amount of capital as you would need to ensure that your employees are taken care of, and that your private school’s environment is conducive enough for the students to learn.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a private school business; it might differ in other countries due to the value of their money. However, this is what it would cost us to start Rolland Gyros International Private School in the United of America;

• Business incorporation fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring a large facility that will accommodate the number of block of closes, playing field, staff offices and parking lots et al (Re – Construction of the facility inclusive) will cost – $350,000.
• Equipping the classes and office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $50,000
• Launching an official Website will cost – $500
• The budget for the payment of salaries for the first three months of operations: $120,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $15,000

Going by the market survey and feasibility studies conducted, we came to the conclusion that we will need an average of $750,000 to start a small scale but standard private school in the United States of America.

Generating Funding / Startup Capital for Rolland Gyros International Private School

Rolland Gyros International Private School is a family business that will be owned and managed by Dr. (Mrs.) Irene Rolland Gyros and her immediate family.

They are the sole financial of the private school which is why they decided to restrict the sourcing of the start – up capital for the private school to just three major sources. These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is a known fact that the future of any business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and of course the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Rolland Gyros International Private School is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers (students and parents alike) over is to ensure that we offer nothing less than the best, to offer quality education to all our students so much so that they can favorably compete with students all over the United States and gain admission to Ivy League colleges.

Rolland Gyros International Private School will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

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More Than 500,000 Americans Set to Lose Their Medicare Advantage Plans

More than 500,000 Americans are scheduled to lose their Medicare Advantage plans now that major insurer Humana is leaving 13 markets across the country.

The company's Chief Financial Officer Susan Diamond made the announcement during a Wells Fargo Healthcare Conference this month, saying roughly 560,000 members would need to find a new plan.

That impacts roughly 10 percent of its Medicare Advantage participants.

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"Nearly all of those members have other options," Diamond said. "That is not atypical when we do plan exits."

"In most cases, there will still be Medicare Advantage plans available from other companies, even in areas where there might not be any Humana plans," Louise Norris, health policy analyst for medicareresources.org, told Newsweek . "So most enrollees will still be able to be covered by Medicare Advantage if that's their choice."

Newsweek reached out to Humana for comment via email.

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The specific markets Humana is exiting from are those that are not likely to be profitable, Diamond said during the conference.

"The exit itself is positive in the sense that those plans were not contributing," Diamond said. "And so just exiting, even if we don't retain the members, is positive. If we do ultimately retain more of those members, that's incrementally positive because the plan choices left behind are priced in a way that will be positively contributing."

More From Newsweek Vault: Checking Account vs. Savings Account: Which is Best for Your Finances?

Many insurers have been leaving markets after the Centers for Medicare & Medicaid Services decided to lower its Medicare Advantage benchmark rate, leading to reduced profits for insurers across the country.

Humana is also anticipating that members will utilize their supplemental benefits, from over-the-counter (OTC) cards to dental services, at higher rates, leading to some of the financial changes.

"We are anticipating an even higher level of utilization in some of those services in the fourth quarter of 2024, just recognizing the benefit changes we've made for 2025," Diamond said. "If people get visibility to that, knowing that those benefits will be reduced, we do anticipate an even further elevated use of some of those benefits."

Earlier in the year, Humana said it would be ending some plans and cutting benefits for patients in 2025 due to financial concerns.

Currently, around 6 million Americans are insured through Humana's Medicare Advantage.

"The insurer recently warned that rising health care costs are squeezing their business model, forcing them to slash benefits and potentially exit some markets altogether in 2025," Michael Ryan, a finance expert and the founder of michaelryanmoney.com, previously told Newsweek . "And with over 6 million enrollees, Humana's moves will ripple across the entire Medicare Advantage market."

Humana's CEO Bruce Broussard also previously said that the company was forced to make some cuts based on changes in the industry.

"We acknowledge that the industry is experiencing a dynamic and challenging time that we must navigate," Broussard told investment analysts earlier in the year.

Humana's decision reflects an industrywide shift as insurers decide how to remain profitable while still offering health plans to Americans.

UnitedHealth's CEO also indicated they were navigating the same financial headwinds.

"Our strategy continues to focus on providing as much stability as possible in the reduced funding environment," UnitedHealth CEO Andrew Witty said during an investor call.

Mutual of Omaha also stopped offering its standalone Medicare prescription drug plans due to the higher costs related to the Inflation Reduction Act.

"If major cuts are looming, it may be time to reevaluate your options, whether that's shopping for a better Medicare Advantage plan or transitioning to traditional Medicare with supplemental coverage," Ryan said.

About the writer

Suzanne Blake is a Newsweek reporter based in New York. Her focus is reporting on consumer and social trends, spanning from retail to restaurants and beyond. She is a graduate of UNC Chapel Hill and joined Newsweek in 2023. You can get in touch with Suzanne by emailing [email protected].

Languages: English

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Valparaiso university to sell georgia o'keeffe art to pay for freshmen dorms.

While US colleges are borrowing billions from the debt market to fund campus upgrades, an Indiana university is taking a unique route: selling a Georgia O’Keeffe painting.

Valparaiso University received court approval last month for its contentious plan to sell three works of art from its Brauer Museum of Art collection, most notably “Rust Red Hills” by the famed modernist painter, that’s estimated to be worth as much as $15 million. It intends to use the proceeds to finance renovations for freshman dormitories, expecting these upgrades to cost between $12 million and $20 million.

The maneuver comes as the university, much like its peers, is contending with a decline in enrollment. Several other higher-education institutes have embarked on a borrowing spree — selling $23 billion of muni debt so far this year, an increase of more than 100% over the same period in 2023. It’s a precarious situation: if they fail to lure new students, they might have to raise tuition fees for existing ones or risk shouldering a heftier financial burden.

Smaller colleges are stuck in a “catch-22 situation”, where they either can’t make investments to strengthen their programs or don’t have the enrollment to support these improvements, said Dora Lee, director of research at Belle Haven Investments.

In Valparaiso’s case, headcount dropped 26% since 2019, according to the university’s website. Its unusual path to raise money has come with its own complications after it faced backlash from the art world and its own community.

“I think their decision to sell the paintings for dorm renovations kind of points to — I wouldn’t say a last ditch effort — but a desperate attempt to reverse its enrollment declines, which is really the cause of its financial troubles,” Lee said.

The university garnered ire from art institutions over its decision to deaccession the art. It was also sued by two retired professors — Richard Brauer and Philipp Brockington — last year over the matter. Brauer, the first director of the university’s museum and its namesake, said in a statement that he will ask to have his name removed if the paintings are sold. Brockington has since died, his lawyer said.

Valparaiso said it will respect Brauer’s request.

“This has been a difficult decision throughout,” a spokesperson for the school said in an emailed statement, adding that the move to sell is “the best possible future for the Sloan trust, our students, and our university as a whole.”

The university — citing an operating deficit because of declining enrollment — deemed it “impractical and wasteful” to spend on capital improvements needed to securely display the paintings, according to a petition shared by the New York Times. It also said it should be able to sell the pieces because the Percy H. Sloan trust — through which the paintings were acquired — was established with the intention of purchasing conservative art, which two of the paintings it wants to sell are not.

Lisa Washburn, a managing director at Municipal Market Analytics, said the art sale underscores the lack of financial resources currently at the school’s disposal.

“It’s not credit positive to see any organization have to resort to one-time measures in order to be able to fund necessary improvements,” she said.

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Juan de Pablo was a key player in the university's quantum efforts and collaboration with other schools on high-profile projects, including the Chan Zuckerberg Biohub.

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