Thinking about opening a school? We tell you what you need to know to get started.
(article continues below)
How to Draft a School Business Plan
Your new school needs a business plan. But if you've never drafted a business plan before, the process can be intimidating.
But here's the good news: With a few tips, any entrepreneur can create a successful plan for their business. If you can get past the mystique, you'll see that a business plan just describes where your school is headed and how you intend to get there.
Although there are many uses for a business plan, it's most important function is to guide your decision making and strategic planning.
Before you begin, we recommend reviewing a few sample business plans.
Look Over Competitors
Prior to opening a school in your area, it's essential to determine what the competition looks like. Try our link below to generate a list of competitors near you. Simply enter your city, state and zip code to get a list of schools in your town.
Is the local market large enough to support another school? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
If you are interested in starting a school, the next step is to learn as much as you can from somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. The last thing they want to do is help you to be a better competitor.
However, a fellow entrepreneur who has started a school on the other side of the country may be more than happy to give you a few tips, as long as they don't view you as a competitive threat. In fact, they are often very willing to share startup advice with you. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
How does one quickly and easily locate a school manager in another city who you can speak with?
It's not that hard. Just use the handy link below and enter in a random city/state or zipcode.
Purchasing a School
Many experts advise against starting a school if you can buy an established operation. But as a school buyer, you'll quickly discover that a business purchase isn't completely hassle-free.
As you would expect, there are a number of steps in buying a business. For most prospective business buyers, the first step is to contact a business broker.
Business brokers specialize in helping buyers locate profitable school opportunities. They are also adept at guiding you through the purchase process so you can avoid the mistakes that are commonly made by first-time school owners.
Franchising May Be a Better Way to Go
The odds of achieving your primary goal of doing well in business are substantially improved if you decide to franchise in lieu of doing everything yourself.
Prior to making the decision to open a school, you ought to determine whether franchising might alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing school, try these useful resources:
If you came here to learn about selling to schools, this isn't the right place for you. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.