Checklist your School Business: School business is one of the most popular businesses in Nigeria.
You might be wondering why you might want to venture into such a business.
I’ll tell you that it’s a lucrative one.
Nursery and Primary schools are even more lucrative (in my opinion).
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Checklist your School Business
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1. Checklist your School Business
Consider that according to the data from the 2006 census in Nigeria.
About 30% of the total population are between the ages of 0 and 9 (the typical nursery and primary school age range).
There has been a significant increase in birth rate over the years.
Thus, we can conclude that the population of children within this age group (0-9), is large and constantly on the rise.
2. Checklist your School Business
Consider also, that education at this stage goes a long way.
In determining the educational capabilities of children in the future.
It is therefore not surprising that many parents pay attention to the quality of education their wards get at these ages.
Thus, many parents go out of their way (even financially) to invest in their wards at these early stages.
There are nursery schools in Lagos state that cost as high as 150,000 naira per term and I’m sure there are more expensive ones.
Imagine you have about fifty students that pay that amount.
You get 7.5million naira per term! Although, not all will be profit.
As you have to pay your staff and other bills here and there.
Regardless, the profit is still high!
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3. Checklist your School Business
I could go on and on about the financial benefits of running a school.
But you could also consider the social benefits as well.
You would be investing in and shaping the future generation.
If that’s not attractive enough for you then I don’t what is!
4. Checklist your School Business
The great thing about the business is that it is budget flexible meaning that your school can be as big or as small as you want it depending on your capital.
So, if you don’t have so much money, you can simply start small and grow.
So in summary, the students are readily available, their parents are willing to pay.
There is a demand for good quality nursery and primary schools.
Financial and social benefits, Need I say more?
Checklist your School Business
5. Business Location
The location of your school is very important.
You have to ensure that whatever location you choose is safe for students and easily accessible.
It is important that there is some development in the area.
As it is unlikely that parents would drop their wards in the middle of nowhere.
The costs depends on what areas you choose.
If you have a large capital, you can choose high-end areas.
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6. Checklist your School Business
In such cases, school fees can be high (provided that the standard of the school is good and you provide facilities that are at par with such fees).
For those that are on a small budget, you can start small, provided that the environment is safe and easily accessible to individuals in the locality and grow from there.
It is advisable to survey the area you choose.
Find out if schools are already available or not, the standard of the schools in the area.
Average fees for nursery and primary schools in the area and so on.
Checklist your School Business
7. Building
Once you’ve got a good location in mind, you need to consider the building.
Depending on how much capital you are working with.
You can rent a small apartment to start with, rent a whole building or purchase/build your own.
If you choose to rent one, you should consider the cost of rent as part of your yearly expenditure.
Whatever option you decide, ensure that the size of the classrooms is reasonable.
What I mean is that the classrooms should be spacious enough for the students and well ventilated.
Having some space in the compound for playground and assembly purposes is a plus.
8. Company Registration/Legal issues
There are legal processes involved in starting a school.
You need to register your school with the Corporate Affairs Commission (CAC).
It is a good idea to visit the ministry of education in your area to make enquiries on the necessary requirements.
It will be beneficial to employ a good lawyer to help with the necessary documentations and for advice too (that is if you can afford it).
You should also try to register your school with the private school associations around just so you are up to date with any information you need.
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Checklist your School Business
9. Staff
Basically, you will need non-teaching staff like a security man (or men), cleaners, clerks or accountants, cooks (if necessary) and teaching staff (teachers).
It is highly important to employ qualified teachers.
This is because the quality of teachers goes a long way in determining the academic capabilities of your students.
There are many schools available, so you need to ensure that the quality of education you are offering is top notch.
This will ensure that whatever pupils come into the school remain in school and also to attract more students to the school.
The basic requirement for teachers in nursery and primary schools in Nigeria is the N.C.E (Nigerian Certificate in Education).
Depending on the role you would be playing in the school, you might not need an N.C.E certificate.
Generally, you need good quality staff both teaching and non-teaching staff.
10. Facilities
You need basic facilities like chairs and desks, bookshelves and cupboards for your students.
You also need to get boards and other forms of stationery that the students would need.
The facilities you get depends on how much budget you are working with.
If you have enough capital you can invest in computers, interactive boards, TV (for learning purposes).
These facilities will not only be beneficial to the students for learning purposes but also attract more students.
Other things like musical instruments for assembly and swings for the playground should also be provided.
Importantly, you have to provide clean toilets and access to good water supply in your school to ensure a hygienic environment for you students.
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Checklist your School Business
11. Other things you need to consider.
You have to find out about the general academic curriculum for students in nursery and primary schools.
You should have knowledge of the necessary books required for the different year groups and provide them.
You might also need to print branded notebooks (if you have the capital).
You will also need to develop a school motto and anthem.
12. Advertise your School.
Ideally you should have posters or pamphlets, stating the name of your school.
Its location, your motto, facilities available, contact information and any other information that you feel is important.
You can also advertise your school via social media or billboards depending on how much capital you have.
13. Enroll Students.
You should have your teachers and staff available before you do this.
Also, it is better to do this well in advance before the resumption date.
So far, many of the things I mentioned are expenditures but there are ways of maximizing profit in this business.
For example, you can offer extra lessons for an additional amount.
You can also offer school bus services for an extra amount.
Lunch options, purchase of school uniforms and school notebooks are a few of the means that can help you generate extra income from the school business.
Checklist your School Business
This is the ultimate guide on how to start a nursery or primary school business in Nigeria.
14. Register your nursery/primary school business
Before you can start your school business, you have to register it at the Corporate Affairs Commission (CAC).
Visit the Ministry of Education in your area to make the necessary enquiries.
You should also hire a legal practitioner to help you out with the necessary documentations and legal advice.
You can also register your school with the association of private schools in your area.
The organization will keep you updated with any information you might need.
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15. Choose a location for your school
This is crucial in the process of starting a nursery or primary school business in Nigeria.
You should choose an easily accessible area that is safe for children.
Your location should also be around residential areas and workplaces.
Parents can easily pick up and drop their children.
The location you choose depends on your budget.
How much can you afford? Upscale areas are more expensive than developing areas.
If your school fees are expensive, go for high brow areas. If your school fees are cheap, go to cheaper areas.
The facilities your school provides must also be on par with the school fees parents are asked to pay.
Also, find out if schools are already available in the location you choose.
The standard of schools and how you can improve on what these schools provide.
Checklist your School Business
16. Choose a building
If you have erected a building of your own in the location you chose, that is great for your nursery or primary school business. But if otherwise, you should rent a building in the location of your choice. Make sure to choose a building that is safe and can support the necessary facilities for a nursery or primary school. You can rent a small apartment or a whole building. Make sure the classrooms are roomy, well ventilated and conducive for learning. The compound should also be spacious, for playground, school assembly and school parties.
17. Choose a name for your school
Choose a name for your nursery or primary school that is memorable. Make sure to choose a name that is short, catchy and unique. Make sure no other school uses that name to avoid problems in the future. You can use your own name or any other name of your choice.
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Checklist your School Business
18. School facilities
To start a nursery or primary school business, you need to acquire various facilities. You need to obtain several facilities such as;
- Boards
- TVs
- stationery
- books
- shelves
- desks and chairs
- musical instruments
- chalks
- markers
- computers
- charts
- games
- swings
- First aid kits
- microphones etc
You need clean toilets and bathrooms. You also need water supply to ensure good hygiene in your school. All these facilities are necessary to ensure a conducive, learning environment for your students. This will also attract other parents to register their children at your school.
19. Design a school uniform
Your nursery or primary school should have a unique and fashionable uniform that is attractive to parents. Hire a fashion designer or tailor to help you select a fabric and design that is comfortable for children.
20. Hire Staff
To run a nursery or primary school business in Nigeria, you need to hire good people to work in your school such as;
- Teachers
- Security guards
- Cleaners
- Receptionist
- Librarian
- Secretary
- Supervisor
- Accountant
- Clerk
- Cook
- Bus Driver e.t.c
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21. Checklist your School Business
Do make sure the teachers you hire are qualified. The minimum academic qualification for a teacher in a nursery or primary school is N.C.E. You can also hire B.Sc and M.Sc holders if you can afford them. However, the higher the academic qualifications of your teachers, the higher the school fees you can charge per child. Parents prefer to enrol their children at schools where the teachers are highly qualified. You also need a bus driver for your school bus. You should get a school bus that can convey children from their homes to school, and take them back home as well. Make sure you hire a professionally trained security guard to man your school gate. You also need cleaners to keep the school clean at all times.
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Checklist your School Business
22. Choose an academic curriculum
Some schools use the Nigerian academic curriculum while others use the American and British school curriculum. Choose an academic curriculum that suits the needs of the children who will attend your school.
23. Choose a motto
Choose a memorable motto about good education. This motto should highlight the overall message your nursery or primary school is trying to convey to parents.
24. Choose a logo
Hire a graphic designer to create a logo for your nursery or primary school business. A logo is very important for your nursery or primary school business in Nigeria.
Checklist your School Business
25. Print branded notebooks
Hire a printing press to print branded notebooks for your nursery or primary school business.
Your school’s name, logo, motto, address and contact information should be printed boldly on the notebooks.
These notebooks will be sold to children that enroll at your school.
Children should take class notes, learn and solve assignments in the notebooks.
Selling these notebooks to your students will provide income at the beginning of a session and during the term.
Branded notebooks can also be used as advertising materials for your nursery or primary school business in Nigeria.
Finally, I cannot stress the importance of maintaining good standards.
Good adverts and a fantastic structure might lure the students/parents but good value for money will keep them. Good luck!
You can find other business ideas on the page: Business Ideas.