Running a private school in Nigeria has proven to be a very profitable business. The only challenge is that you need a substantial amount of capital to start the business. This is why you need a sample private school business plan template.
A private school business plan pdf will help you get the funds needed to start up your private school. In this post, we will take a look at a template for your private school business. In addition, we will take a look at why you should invest in private school business.
An Overview of The Private School Business
The huge population of Nigeria is a major factor that has affected the educational sector of the country. Once upon a time, the public schools were well-equipped to handle the population. There were enough schools to handle young people in the country.
As the population began to skyrocket and the economy began to dwindle, a huge need arose. The need for privately owned schools that would augment for public schools. Today, there are so many private schools scattered around Nigeria.
These schools have played a major role in improving the educational sector of Nigeria. Today, you have schools running the Montessori system as well as the American curriculum in Nigeria.
Because of this, many parents prefer to enroll their children in private schools. Their belief is that their kids have a chance at a better education. Due to this fact, many entrepreneurs are beginning to invest in the educational sector. Even though there are so many private schools, there is still room for more.
Benefits of Invest in The Private School Business
Just in case you are still wondering why you should invest in the private school business, this section is for you. It is important to note this before you order for a sample private school business plan template.
To buttress the point, we will paint a simple scenario. Let’s say you run a private school with a hundred pupils. If each of these pupils pays N50,000 per term, you would be making N5 million in a term. This means that in a school year, you should be making N15 million on average.
By the time you sort out all the operation costs of the business, you will probably be left with between N2 million and N2.5 million per term. There are several other ways schools make money these days which include running holiday trips and special training for their students.
Of course, with the right marketing strategies, you definitely wouldn’t have 100 students and wouldn’t charge N50,000. Now you can paint a picture of how profitable the private school business is and why you should invest in it.
Contents of Sample Private School Business Plan Template
It is important that your private school business plan pdf contains the right information. If it doesn’t then it will just be a waste of time and resources as it wouldn’t satisfy the need for writing it. To ensure that you have an efficient business plan, we offer to provide you a sample at a very affordable price.
These are the basic pieces of information you need in your sample private school business plan template.
Table of contents
This is very important to show the reader of your plan around the pages. With the table of contents, they can pick out what they want to read and go straight to the page in the document. When you have this in your plan, it shows the reader that you are organized and able to run a complex business like a school.
Your executive summary is the abstract of your business plan. It is a simple summary of the whole business plan. You need to ensure that this part of the business plan is juicy enough as it will attract the reader to go through the rest of your business plan.
A school is a very complex system. Even though it begins as simple, with time it grows to become complex. It is therefore important that you provide lots of information about your company structure.
When a person wants to invest in a business, they do so with individuals they can trust. Trust comes from a place of knowledge which is why you need to provide information that introduces you to the reader.
To this end, you should provide the following pieces of information:
- Mission Statement
- Vision statement
- Current Status
- Markets and Products
- Keys to success
- Cost summary
A private school offers a service rather than a product. What you are doing is imparting knowledge to pupils and students. Since it is a school, you will need to do a bit of an explanation of the services you will provide.
As we will always advise, it does not have to be too elaborate. Just make sure that it is easy to understand but subtle enough to keep your ideas private. This makes it a win-win situation for you and the reader. They get to understand your business and you get to keep your intricate details while gaining their support.
Industry and Market analysis
We have done a bit of this earlier in this post. You need to show off your knowledge of the industry that you are engaging in. You have to be as detailed as possible in this section as well. Most people regard this section as a show-off section since you are basically trying to impress the reader.
When they know that you are vast in the industry, they are confident that you will be able to run the business properly. This gives them the necessary push to invest. Some of the pieces of information this section should contain include:
- Industry analysis
- Market analysis
- Customer analysis
- Competitor analysis
- SWOT Analysis
There are so many private schools that haven’t developed so much. Not because the owners do not have the funds to do so but because they have a poor marketing strategy. With an efficient marketing strategy, you are able to attract lots of attention to your school.
The more students you have, the more profit you enjoy as described above. Therefore you need to provide the following information:
- Target Market Strategy
- Product/Service Strategy
- Pricing Strategy
- Distribution Strategy
- Advertising and Promotion Strategy
- Sales Strategy
- Marketing and Sales Forecasts
Running a school can be quite challenging. For this reason, you need to add how you intend to run the school in your sample private school business plan template. Basically, you are discussing your strategy, scope, and expenses.
A school system is very sensitive so you need to have top-notch people on your management team. Provide the following information:
- Company Organization
- Management Team
- Administrative Expenses
This is the straw that will break the camel’s back. If you can convince the reader with your financial projections then they see a good reason to invest in your business. Some of the information contained in your financials section include:
- Financial Assumptions
- Financial Forecasts
- Projected Cash Flow
- Income statement
- Balance sheet – Profit and loss, Profit Margin, chart, Financial Risks, etc.
This is the last part of your business plan and it contains all the dirty work. By dirty work we mean the calculations, graphs, diagrams, etc. that would make your plan confusing and scruffy.
What Does it Cost to Get a Sample Private School Business Plan Template?
To get your private school business plan pdf it will cost you N20,000. However, if you want a special business plan, you can reach us with your requirements.
Sample Private School Business Plan Template – Conclusion
In this post, you have learned what the contents of a sample private school business plan template should contain. You have also seen how profitable it is to run a private school in Nigeria. Kindly reach us for your efficient private school business plan pdf.