Wondering how to start an educational organization? We take you step-by-step from start to success.
(article continues below)
Successful Business Plans for Educational Organizations
If you've done your homework, you already know that writing a business plan is the most critical thing you can do for your company.
Although it might seem like an unnecessary formality, your educational organization's business plan is a document that will shape your goals and strategies on a go-forward basis.
If that's not enough, consider that business plans inoculate your business from common startup mistakes. If your business plan includes accurate industry metrics and conservative forecasts, your business will be less vulnerable to market fluctuations and catastrophic surprises.
Don't Ignore the Competition
Prior to launching an educational organization within your community, it's a smart move to find out how you will fit in the competitive landscape. Use the link below to find competitors in your city. Simply enter your city, state and zip code to get a list of educational organizations in your town.
Before you open up shop, make sure you know what you will offer to your customers that provides a significant advantage over your competition's offering.
Learning More About the Industry
If you want to open an educational organization it's a wise move to speak with somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. The last thing they want to do is help you to be a better competitor.
On the other hand, an individual who has an educational organization on the other side of the country may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. Many business owners are happy to give advice to new entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
How do you find an educational organization founder in another community?
No problem! Just use the link below and try a random city/state or zipcode. Then start dialing for advice until you are successful.
Acquisitions vs. Startups
Unfortunately, many inexperienced educational organization entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition.
Unless you have compelling reasons to launch a new business, buying an existing educational organization may be the better choice.
An acquired educational organization is a known quantity; a startup is less certain because its forecasts depend on estimated outcomes. In a best case scenario, you'll be able to locate a turnkey operation with proven profitability and a well oiled business model.
Would you risk your startup investment on a coin toss? Probably not. But if you're launching a traditional startup, that's essentially what you're doing - gambling your future on a 50/50 shot at success.
Launching a franchised startup can insulate your investment from some of the risks associated with a typical startup. Franchises streamline the startup process and enable inexperienced entrepreneurs to avoid many of the pitfalls that plague failed startups. More importantly, the right educational organization franchise offers a turnkey system for turning your dreams into first-year profits.
The below link will take you to our training and education franchise directory where you can explore educational organization franchise opportunities from the industry's leading franchisors.
These interviews should be of interest to you.
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 educational organization, try these useful resources:
If you sell to educational organizations, you're in the wrong place. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.