Starting a school can be a daunting task. Having a well written, structured business plan will help you to structure your ideas and map out a route for progression. If you are unsure how to go about making a business plan collaborate with a lawyer or a business consultant. Circulate your business plan and ask for feedback to improve the quality of the plan.
Before you design your business plan construct a steering committee for the school. Include experienced education and business professionals, such as former head teacher and business managers. Look for people who have strong networks in the local area. The steering committee is responsible for defining the schools strategic objectives and business plan as well as developing a governance structure for the school.
Explain why a new school is needed and the age group and location it will focus on. Develop a set of four to six objectives, outlining what the school hopes to achieve both in the short term and in the long term. Use these objectives to monitor and evaluate the progress of the school as it grows and develops. Under each objective write the activities that need to be implemented to achieve each objective. For example, before you can open the school you need to incorporate it as an official school and set up a tax exemption system.
To ensure you have the required resources your business plan should include a clear budget and financial plan. Breakdown the budget into core areas of expenditure, such as salaries, admissions, marketing and decide on a percentage of your budget for each category. Remember to include a category for miscellaneous expenses and a margin of error percentage for unforeseen expenditure. If you have not been allocated enough government funding to run your school, approach funders, such as grant organizations and high profile business for finances. When approaching funders, breakdown your total expenditure into cost per child and so the overall cost appears low.
Calculate how many staff members you need to open your school and the increase in the number of teachers required each year. This will depend on how many year groups and children you have. Typically, schools are opened in a series of phases. For example, in phase one there are 100 children in grades one to three and in phase two there are 500 children in grades one to six. Remember to include the reception, administrative and marketing staff in your calculations.