Educational Consulting Business Plan in Nigeria
Our sample educational consulting business plan in Nigeria can be used for proposal writing, access bank loans, grant applications and However, the article below will help you weather you want to learn how to start a consulting firm in Nigeria, determine a marketing plan for education consultancy or for running an educational consulting business.
To get your own educational consulting business plan in Nigeria, pay N50,000 to:
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After payment, text your full name, email address and title (education consultant business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
A saying goes thus, “education is the best legacy”, well that is definitely not far from the truth. For one if you had not acquired some level of education you would not have been able to gain access to the internet let alone this article that you are going through right now. Little wonder why over the last few decades more and more families have striven hard to ensure that their kids gain some level of education, no matter how much it will cost them. Still several people have not been able to achieve this feat and most get stuck on the way due to unavailability of funds, among other issues mostly beyond their control.
The last two decades have seen educational institutions of different levels springing up in different parts of the country, ranging from nursery schools to tertiary institutions. If we are to be candid to ourselves, the schools are not springing up because people just feel like being generous to supporting the cause of educating Nigeria’s populace. These educational institutions are mostly established because of the huge financial gain that awaits those who invest in such ventures. Mind you it is a business and one of the major purposes of running any business is to make income for the business owner. Asides establishing schools, there are more modern ways of making money from education, one of such is establishing educational consulting outfits. Several people may raise the question, what is an educational consulting outfit? It is simply an outfit established with the aim of providing educational advice and other services to both organizations and private individuals for a fee.
One major quality of entrepreneurs is the ability to pinpoint a need in the society and looking for ways to meet that need such that it will bring satisfaction to the public and raise sustainable income for the entrepreneur. There are several needs that have arisen along with the rise of so many educational institutions in the country. Daily young people are faced with the stress of making several decisions as regards their education, organizations require the services of educational consults to educate their staff on several key areas that will better their output, etc. Most of these knowledge cannot be gotten from schools, this has invariably created a market for the educational consulting firms.
There are several people who have acquired several educational skills, attended several institutions and have thus grown in knowledge, so many who have a zeal to impact knowledge to others yet have not gotten jobs in the educational sector. You might fall into that category and are probably looking for a way to create solution to the nation’s educational problem while looking for a way to raise income for yourself. I think you should consider educational consulting. This article promises to educate you with all you need with respect to this topic, it promises to be an enlightening read, enjoy.
Also Read: Private Tutor Business Plan in Nigeria
What do you need to set in place when starting your educational firm?
- Study your market. Before starting any business, not just the educational consulting business, it is expedient that you carry out a market analysis. This helps the business owner to properly scrutinize the market and figure out the necessary segments that the services they offer will satisfy. You can carry out this market analysis by taking time to study in depth the educational sector in relation to your immediate environment to see who needs your services and how best those services can be offered. It is also wise to visit someone already operating this sort of business so you can learn from their business template what you need to set right in yours and how best you can approach the market with your unique set of services. Finally, you can run surveys and read over the internet as well so all you study has enough statistical backing.
- Write a reasonable business plan. Every business that will thrive and become successful will definitely require a business plan. Several businesses take this aspect for granted as they feel it is not necessary, however looking at the advantages of writing a business plan to your business, you will agree with me that the importance of this step cannot be overemphasized. Some of the advantages of a business plan include helping the business to measure success and failure using reliable indices, helping to detect the strengths and weaknesses of the business, ensuring continuity, getting financial assistance, amongst others. It will also help you determine how much you need to start the business in terms of capital and how many staff you will need to employ, if you need any at all.
- Determination of core area. Once you have been able to cut or divide your market into segments, it is easy to determine the kind of services you want to offer. Before you can arrive at this conclusion, you must have taken time to study what each of the segments needs and decipher if you truly can satisfy the needs of the segments. This will enable you decide how well to place your investments in this business. By investments I do not mean just finances, but every form of effort you will be putting in to ensure that you achieve outstanding success.
- Acquire the necessary skills. Of course before stepping out to venture into this kind of business, you definitely will have some set of skills. You should note however that the skills you will need to acquire will be based largely on the niche you have chosen to service. You will be required to gather skills in your chosen field and such skills should be represented with necessary certificates and proofs of affiliation if possible. The acquired skills ensure that you stand heads above the rest in your field while also giving your customers the confidence that you are credible enough to offer the exact services you claim to be able to offer.
- Register with the necessary bodies. One of the key steps in running any business is ensuring that you find out all the organizations that have a power to make policies that could make or mar your activities. When you find these out it is only wise to register under them and do the needful to avoid unnecessary embarrassment in course of running your business. In Nigeria, it is necessary as an educational consulting firm to register firstly with the Corporate Affairs Commission (CAC) which is the country’s register of companies. Following this, you should find out from the Ministry of Education all that it takes to be an Educational Consult and satisfy the requirements to the letter. Asides avoiding embarrassments and indictments, you will also help your customers to trust you better when they know that you have been registered with the necessary bodies.
- Get an office space. Offering educational consulting services will definitely require you to own a physical office, people can trust you more when they can find your base. To this end it is expedient that you get your business a suitable and befitting office space, you most likely will require the help of a realtor to do this. You should state in clear terms what kind of space you are looking for when dealing with the realtor. Your office space should be a reflection of the kind of services you will be offering and you should ensure that the place is not choked, able to accommodate the number of people you are expecting. Once you have gotten your office space you should ensure that you furnish the space properly, putting in all that will ensure the place is conducive for learning and all the peripheral services you plan to offer. Finally in this aspect, you should ensure that your business space is located in a place that is very much accessible to all and sundry, else you might have a problem on your hands since you already have competition with accessible offices.
- Hire your staff. For a startup educational consulting firm, you may not need to hire so many people. All you might need are hands that will assist you so that you can focus undivided attention to key areas that will ensure the growth and sustenance of the business. So for starters you may just need a sales person also known as a marketer and a front desk officer who can double as an accounts person. This will help you to cut cost on manpower and thus divert such funds to other aspects of the business.
- Advertise your business. One key aspect that most businesses take for granted is advertisement. The world needs to know what kind of services you provide and what makes you different from the rest, they sure would not decipher this by magic. You need to sell yourself, put your business in the public eye. There are several measures of achieving this, for an educational consult it may require you making handbills, billboards, using social media efficiently, creating and maintaining a website, etc. Another thing you should work on is getting referrals, it will definitely grow your business beyond what you can imagine, people will always patronize a business that has been recommended to them from experience.
Possible threats your educational consulting business will face at startup
No business, no matter how planned it is, will have several challenges especially at startup. It is important to expect these as it will help in planning ahead to withstand them. For a new educational consulting firm, there are two major challenges that are likely to affect the business, and the effect might be damaging to the business. The first challenge is the presence of pre-existing educational consults, probably offering similar services as yours and more, they are fully established. They already have a client base, have already studied the market, have made a name for themselves and it is going to be hard to outshine them at their game. The best way to tackle this challenge is to ensure that you have something different but special to bring to the table. You must be unique in your services, offer what the existing companies are not offering and the best way to fix this is by studying their templates intently.
The second challenge which can even shut down your business before it sees the light of day is government policies. You should take time to study the prevalent policies before you even establish your business to avoid infringements, complete all the necessary registrations, be affiliated to the necessary bodies, acquire all the required certificates, etc. You can never be too careful, you do not want your business to lose all the investment you have poured into it.
Getting capital to run your business
Starting an educational consulting business can be quite capital intensive, especially if you plan to get a large office space. Securing a standard office is part of what will most likely consume a huge chunk of your startup capital, for this reason it may be wise to start the business on a small scale. With this you might not require serious external funding. This is where one of the major advantages of having a well written business plan comes to play. Your business plan will assist you in getting the necessary funding for your business. It will help you attract investors, get a loan from the bank or get a government grant, depending on which is available.
Below are some of the options which you can explore when seeking for startup capital for your educational consulting business:
- Funds raised from personal savings or sales of properties and stocks.
- Raising money from investors and business partners
- Sale of shares to interested investors
- Applying for loan from your bank/banks
- Pitching your business idea and applying for business grants and seed funding from donor organizations and angel investors
- Source for soft loans from your family members and your friends.
In conclusion, the educational consulting business is one that is very profitable to venture into and it ensures that you are not just gaining income but adding value to the society at large. I want to trust that this article has been of tremendous help to you in your quest for knowledge on this subject.
Get your educational consulting business plan in Nigeria today.To order the business plan, pay N50, 000 to:
BANK NAME: GUARANTY TRUST BANK (GTB)
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 0044056891
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After payment, send your full name, email address and topic (i.e. education consultant business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
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