Opening A Private School – Feasibility Study to establish a Private School
Is school business in Nigeria profitable? Education is the best legacy and the greatest inheritance parents can leave for their children. The quest for formal education is important in the training of wards from childhood to adulthood. From creche to nursery to primary and then secondary school, funds for school fees usually account for up to twenty percent of what most parents earn.
REQUIREMENTS AND LICENSE TO OPEN A PRIVATE SCHOOL IN NIGERIA
Set Up Your Nursery And Primary School In Nigeria
In those days, just one government or catholic missionary school is enough to cater for all the children in a community but nowadays, population expansion has made it necessary for private schools to come to the public’s rescue. Apart from this fact, individually owned schools are deemed to be of higher standards than government schools which are mostly poorly funded and badly managed. It is not a thing of surprise to see some parents send their kids to some private schools to show ‘class’ as their neighbor’s kids attend such schools. These trends has made the business of starting a school a lucrative investment.
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In cities like Lagos, Ibadan and Abuja; some schools charge as much as #100,000- #500,000 per term. In this same cities, you can find schools whose school fees range from N3,000- N50,000 per term. Imagine charging #10,000 per term in a school of 200 pupils. That’s a whooping 2million Naira! Excluding cost of running school affairs, buying school materials, paying teachers’ salaries, you can net about 40-50percent of this gross income as profit.
Get A Building Ready
You can build you own structure or rent a facility to start your school. Ensure that your school is located in a safe vicinity where parents are comfortable sending their wards to. Your school premises should be beautified and spacious to allow pupils read and play with ease. Your building must be equipped with structures like good toilets and source of clean water in order to prevent disease outbreaks and other health risks.
Equip Your School
Toys and learning aids helps teaching experience. Make sure you provide comfortable chairs and tables, playground and swings, white board and markers, schemes of work for Pry 1-6, JSS 1-3 and SS 1-3, necessary textbooks and workbooks, cupboards and shelves, audiovisual like TV and musical instruments (like konga drums, flutes, etc) for use every morning on the assembly.
Recruit Competent Staff
From teacher, drivers, cleaners to gate-man, employing people who are frustrated or people who do not enjoy what they do will hinder the progress of your school. Minimum qualification for teachers should be N.C.E. Other non-academic staff must be able to communicate in English language. Always strive to recruit people who are passionate about what they do.
Register A Business Name For Your School
For the welfare your business, it is important that you register a business name. You will need a business registration certificate from CAC to open an official bank account for your school where parents can pay in. This should not stop you from putting in an application for your school’s approval with the Federal Ministry of Education so that you can be licensed to start conducting Common Entrance, Junior WAEC, SSCE and NECO exams from your school premises. Check our blog for a new private school proposal sample to develop yours.