How To Start A Private School In Nigeria 2019/2020 Pdf | Private School Business Plan
- 1 How To Start A Private School In Nigeria 2019/2020 Pdf | Private School Business Plan
- 1.1 How to Begin A Private School Business In Nigeria
- 1.2 Join Relevant Associations and Unions
- 1.3 Advertisement and Creation of Awareness
- 1.4 Nursery & Primary School Curriculum
- 1.5 FAQS
- 1.6 Other Amazing Business You Can venture Into Today
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Starting a private school in Nigeria is capital-intensive, but it’s one of these businesses that have guaranteed to make you a millionaire if done well, coupled with good management.
Here in Nigeria, private schools have a reputation of being able to groom a child into intelligence, while public schools are seen to be otherwise. In fact, the more costly the tuition fee is, the more reliable the school is seen by potential individuals.
The standard of education in privately own school is perceived to be higher than that of public schools. This leads to the booming of school business here in Nigeria. Another set of people see public schools are a sign of poverty and because they want to prove the society wrong, they prefer to send their children to private schools.
To start a private school in Nigeria isn’t hard provided you have the required finance to kick off.
Here in Lagos, the cheapest nursery and primary school charge a minimum of N15,000 as school fees. Average private schools charge around N30,000 – N50,000. While extremely good privately school charge over half a million.
If you’re to establish a private school today and charge at least N15,000 with over 100 students, you’ll be making approximately N1.5Million Naira per term. Imagine if the standard is raise a little and you charge N20,000 as school fees?
Starting a private school in Nigeria is very lucrative if you venture in with the determination to succeed. With the right management, you’ll not only be a founder of a school, you’ll be a respected millionaire in the country. As time goes, you open numerous schools in other areas, thereby multiplying your streams of income.
In this article, I’m going to guide you on how you can start your own nursery and primary private school in Nigeria and live in financial freedom. Yes! You will have so much money that your problem will no longer be money, but how to maintain your reputation in life. Read on with the steps on how to start a school.
How to Begin A Private School Business In Nigeria
1. Get A Good Land In A Good Location
A good location is very important if your private school must really boom and make you money. No parents or guidance will love to enroll their children or ward in a school far away from home, even if the school has a school bus.
Get a location that’s close to your target market. Getting a land in good location is the first successful step you must step. If you can’t get a good location, it’s better to forget about starting a private school and think of another business to do.
The cost of getting a land depends on the size of your proposed school. Get in touch with your engineer and let him guide you through depending on the budget at hand. You need an expert to walk you erecting your school structure.
When building your school, make sure that everything has been drawn. The classes must be spacious and the environment, conducive for learning. Make sure you have a library because it’s among the top things been looked out for by parents who want to enroll their children.
2. Equip Your School
Apart from the installation of chairs and tables, computers and television sets shouldn’t be overlooked. Having a borehole is also paramount and also one of the criteria looked out for by parents before they can part with their children.
Apart from all that, your school also needs a school bus that will help convey your pupils to and fro from school.
If your school is well equipped, attracting parents and guidance becomes an easy feat. In fact, how well equipped your school is distinguishes it from other school, thereby protecting you against unnecessary competition.
3. EMPLOY QUALIFIED TEACHERS
Before you even consider starting a private school here in Nigeria, you need to make sure you know how to employ qualified teachers. Take note, this business is not all about making money, we’re talking about breeding forth leaders of tomorrow and if your school ends up doing the opposite, the country suffers.
If you don’t have any sort of passion for grooming young minds, forget about this business and look for another lucrative venture that will still make you money. Your passion is an advantage if you must succeed.
5. Financial & Legal Matters
Before you take your first step in establishing a private school, you must first have an accountant and a lawyer beside you. The accountant will help with the rough financial estimate needed to make your dream come true, while the lawyer handles issues pertaining to incorporation, registration and tax.
This aspect is very crucial, to avoid government agencies demolishing your structures. You must follow due process.
Join Relevant Associations and Unions
National Association of Proprietors of Private School (NAPPS) is an association that you need to be part of if you must be successful in this business of private schools. By being part of this association, you gain recognition and get information about latest development in the sector.
Advertisement and Creation of Awareness
This is business and if you must soar higher than your competitors, you have to buckle up and run intense campaigns that create awareness about your school. There are lots of advertisement and promotional strategies you must incorporate for fast result. Below are major routes to advertising you ne founded school.
1. Radio/Television Experts
There are lots of radio FM’s and television channels that you can leverage to and create awareness. The airtime rate depends on how many minutes and the audience you’re trying to reach. For a popular channel, the cost will definitely be higher compared to other upcoming channels. And also, the time of broadcast also determines price.
2. Classified AD
I’m sure you’ve come across these small boxes in newspaper, usually for change of names. Well, you can actually use that medium to create awareness for your private school. The cost of a classified ad isn’t up to N6000 depending on the newspaper company.
3. Social Media AD
You can also run ads on social media like Facebook, twitter, Instagram etc and create awareness about your new founded school. Running such an ad will no doubt require an expert. You need a targeted ad that reaches potential audience for quick result.
There are numerous other ways to create awareness, like creating a business card, flyers, posters and running child support champagnes. If you do this well, you’ll establish your school and attract numerous parents and guidance ready to part with their children and wards.
Nursery & Primary School Curriculum
For accreditation to take place, certain factors are considered like school curriculum, school structure and qualified teachers. You must take extra care when developing a school curriculum. You need one that ends of grooming your pupils into being the best they can be. Many schools exist today, what stands you out will definitely be the makeup of your school curriculum.
Every child is different, unique and endowed with different capabilities. The worst mistake will be trying to make them all act the same which is the major flaw found in almost all schools in Nigeria today, both public and private schools.
1. Do I need a Business Plan to begin A Private School In Nigeria?
Yes! You need a well detailed business plan. Your business plan is like a blueprint and not having one is like walking through a dangerous street blindfolded. It’s like testing the depth of an ocean with your two feet. That’s suicide if you ask me.
If you can’t draw a business plan, we have a team of great business plan writers here in EntMirror. We’ll give you a detailed overview of what the establishing a private school in Nigeria entails.
2. Is there a relevant Association for Private School Proprietors?
Yes, there are unions you need to join as a private school founder. By joining such a union, you open yourself up for a whole lot of possibilities and updates in the sector. An example of such an association is National Association of Proprietors of Private School (NAPPS).
3. How Much Do I Need to Establish A Private School?
Through your business plan, the cost estimates will be made known. Making estimates now won’t be necessary and they will look so unrealistic if I try.
Starting a private school in Nigeria is lucrative and is sure to make you a millionaire if you start with the required capital. You’ll only find yourself struggling with this business only when faced with financial constraints, please avoid this situation as much as possible
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