How to Start a Nursery and Primary School in Nigeria (PLUS BUSINESS PLAN)
To start a Nursery and Primary School in Nigeria, you must do a feasibility study of the location you want to situate your school and draw up a business plan to that effect. To make it quicker for you, here is an already written business plan for a private school in Nigeria.
TABLE OF CONTENTS
- Executive Summary (insert your school)
- Business Description
- Products and Services
- Competitive Advantage (of your school over others in your specified location)
- Market Research (Who are your targeted audience and how you intend to reach them)
- Competitor Analysis (What other schools are in your area)
- Sales and Marketing Plan (what are your marketing strategies for reaching your market
- Operational Plan (How you intend to execute)
- Business Risk (What are the risks involved in starting your nursery and primary school
- Management and Structure (Who are your staff, their duties and what is their hierarchic)
- Financial Plan and Projections (Cost and Expenses, how much profit you hope to make in years to come)
TO GET YOUR NURSERY AND PRIMARY SCHOOL BUSINESS PLAN IN NIGERIA, PAY N10, 000 TO:
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. Nursery and Primary School Business pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
The paramount desire of any parent for their kids to see them attend a good school that provides them the opportunity to properly develop their skills while gaining top notch knowledge right from infancy. It is no news that several parents pay huge sums just to see their children go to the best schools because they believe this will put them on a high pedestal and level playing ground with their contemporaries in future so they can have a better life. Yet it is easily observable that the number of qualitative schools are almost not enough to cater for the educative needs especially for the preschool, kindergarten and primary school stages. Most of the schools available do not even have the required equipment to help develop the right skills and impart the necessary knowledge to our children.
These reasons have led to a flourishing in the private school business because privately schools are mostly able to fix most of these challenges. The population of the country has more than doubled in the last twenty five years, this means that there is a need of new schools to create a balance with the rise in population. Nursery and primary schools are now in high demand and if one has the capacity to start one, it is definitely a great option for income generation.
It is necessary to note at this point that the process necessary to start a school is quite cumbersome, perplexing and could take a long period of time, but the ultimate result makes the process worth the stress. Several people who own and run these educational outfits have testified that the business is somewhat a goldmine on its own. Asides the profit gotten from this business, another major motivation, which is mostly the most important, is the idea that you are imparting knowledge that will make the young one well equipped for a better tomorrow.
In all sincerity, starting a school is a bit of a capital intensive project, depending on what extent you want to go and how much quality you desire to deliver. This article hopes to properly educate you as to what processes you will need to go through in establishing your own nursery and primary school.
Profitability of the Business
Years ago, it was just a few government run schools that supported the population, every parent prided in the fact that their children attended these schools. But with the geometric rise in population and the poor management of these public schools, most parents have resorted to seeking out privately owned schools for their children. These schools boast of better facilities, management and innovation. Parents disregard the high prices of these institutions, most will pay anything just so their kids get the best education. Presently an average private school charges #15,000 per pupil, per term, the more qualitative ones charge far higher prices. Let us do a quick math based on this price:
If you charge #15,000 per pupil and you have 200 pupils, how much will you make per term?
#15,000 x 200 pupils = #3,000,000 per term
By the time you pay you teachers and sort out maintenance and supplies costs, you will still be making about a million naira each term. We have already established the fact that there will always be a need for schools and if your school is innovative, with great management and has top notch facilities, you are sure to make far more than the result of the above calculation.
Steps in Opening Your School
Proper Study of Your Niche. It is expedient to take a proper study of the niche you want to venture into, you already know it is a nursery/primary school, this makes your job easy. Studying of this niche allows you know all the necessary things you need to set in place. Seek out other top schools in your area and beyond, visit their owners and management and find out what they did and how they got to where they are. In total, it takes about two years for a school to be established so within this period, do all you can to gain necessary knowledge. Gaining knowledge will help you know the kind of support you need both in terms of manpower and capital.
GET A BUSINESS PLAN. You may say this is not necessary since it is a school, well, that is wrong because the school is first a business before an educational institution. A business plan is the map that gives a direction to the business, it states the mission and vision statement, the capital and human resource needs, the management structure and how the business hopes to expand in the future, including the projected income, etc. It helps in attracting investors, it also helps when you are seeking a loan, while helping the owner and management board to fully understand how to run the business. These are just a few advantages of having a business plan.
Sort Out Legal and Registration Issues. There are a number of registrations that should be sorted out before the school can be established or even recognized by the government. During your study period you should have equipped yourself with the necessary registrations and how to go about them. It is important to get a legal practitioner, preferably a lawyer to assist with the registration so you can obtain your certificate of incorporation. This will enable you develop interest in investors and loan providing bodies, nobody wants to invest with an untrusted business. The registration of incorporation boosts your trust level and makes people know how serious you are with your business.
Develop a Budget. This should be a major part of your business plan. It is imperative that you have a written down budget so that when you acquire funds from your investors you do not spend ostentatiously or spontaneously. By this time you should already have a trusted account officer that will help develop the budget, which you should strictly adhere to for optimal results.
Acquire a Land. In getting a land, you should target a vintage spot in your environment. By vintage point I mean a place that is easily accessible to families and a place that can allow for expansion. You should be looking at a minimum of a plot (120 by 60 feet) for startup, but make sure that the environment is one in which you can acquire more land in the nearest future when the need arises. The price of a plot of land varies depending on the location, for this reason I will not be stating any prices here so as not to mislead you. In the event that you do not have the capacity financially to buy land and erect a structure, you might look at renting in the interim, till you can raise enough capital.
Set Up Your Building. Once you have your land, the next step is erecting your structure. Before setting out to erect anything at all, have a proper architectural plan set out, this is necessary so that your school is not too choked and the design is educationally friendly. Properly seek out a building contractor that will assist in supervising the construction of the buildings. You must ensure that you use only the best materials because you are going to be accommodating other peoples’ children in your facility, nothing must go wrong. The classes should be designed to have ventilation and space enough for the children and other necessary equipment. Also ensure that major facilities like plumbing and electricals are fitted in properly.
Equip Your Building. After erecting the building, the next step you need to look at is equipping the buildings for maximum comfort of the children. You need to add chairs and tables, audio visual equipment, books, whiteboards, computers, toys for the very young children, your playground, etc. You should also consider a school bus, it makes life easy for parents thus making it an additional attraction for them and extra income for you. Asides these make proper research to ascertain everything you need to set in place to make your school achieve the aim of educating the children and being comfortable at the same time.
Recruit Staff. It is important to recruit staff in different capacities to man the different functions of your school. Make sure that these prospective staff are well qualified to handle the responsibilities saddled on them. As the proprietor you are not required to possess any specific qualifications in line with impacting knowledge, but for someone who will be the school manager or headmaster, it is imperative that such fellow possesses at least a NCE qualification and relevant experience in educational administration. The other teachers should also have at least a qualification relevant to education, an NCE, or something of sort. They should also have some experience in dealing with children so they can properly handle the kids in your care. You should however still organize an on the job training for your staff from time to time to ensure they are well equipped to handle the wards in their care. Asides teachers and the headmaster, you also need more staff like accountants, cleaners, drivers, etc. depending on the facilities you have at your school.
Advertise Your School. It is not enough to just set up the building, equip it and employ qualified staff, you need to put the school in the face of the public. Employ all means possible to ensure that there is adequate knowledge in the public eye about your school, her facilities and the capacity of your staff. There are several methods of advertisement some of them include television and radio commercials, social media advertisements, flyers and banners, billboards, etc. This is one of the most important aspects which you must not attend to with laxity, the importance of advertisement to any business cannot be overemphasized.
Resumption. Make sure you have registered properly with the state educational bodies and the other necessary bodies so you do not have any unnecessary embarrassments. Once this is done, you are set to begin running your school, you can fix a resumption date and begin admitting students. Ensure that all necessary things are set in place and keep a watchful eye on the unfolding of events, the business is your new baby.
Challenges in Starting Your School
There is no business without its own fair share of challenges, starting up and running a nursery and primary school is not excluded. There are a few challenges that constantly face school owners in Nigeria, some of them are stated briefly below:
- Startup capital is most likely to be a problem. For this reason quite a number of folks have the interest but do not have the capacity to start their own schools. Most folks do not have access to loans and investors, and as stated earlier the school business is quite capital intensive.
- Another challenge facing the school owners is the number of registrations. There are so many registrations, it is possible that if there is no proper research, the owners might not cover up all the loose ends.
- Getting qualified staff. Yes we have an outstanding number of graduates in the country, but the question is how many of these graduates are qualified to be teachers, and how many of them even have desire to be teachers? Most of them just indulge in teaching to pass time till they get a better offer, this means they are most likely not going to offer their best to the job. Having this wrong attitude can be detrimental to the growth and efficiency of the business.
In conclusion, the nursery and primary school business is a very lucrative one which though a capital intensive one, promises to yield great profits within the shortest possible time. It also requires a lot of input, asides the initial capital requirement.
Hurry now and get your own nursery and primary school business plan! To place order, Pay N10,000 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. Nursery and Primary School Business Plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
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