making a school business plan

School Business Plan Template

Written by Dave Lavinsky

School Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their schools.

If you’re unfamiliar with creating a school business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a school business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a School Business Plan?

A business plan provides a snapshot of your school as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a School

If you’re looking to start a school or grow your existing school, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your school to improve your chances of success. Your school business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Schools

With regards to funding, the main sources of funding for schools are donations and gifts, tuition, personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for schools.

Finish Your Business Plan Today!

How to write a business plan for a school.

If you want to start a school or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your school business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of school you are running and the status. For example, are you a startup, do you have a school that you would like to grow, or are you operating a chain of schools?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the school industry.
• Discuss the type of school you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of school you are operating.

For example, you might specialize in one of the following types of schools:

• Private K-12 school : this type of school typically charges tuition, and may be affiliated with a religious organization, or specialize in a particular learning method.
• Charter school: this type of school offers primary or secondary education for a tuition, and may receive some public funding, and/or donations. These schools require their students to take state-mandated exams.
• Special subject school: this type of school specializes in teaching a specific subject, such as driving, first-aid, self-defense, fine arts, language, or general tutoring.
• Preschool: this type of school typically serves children who are aged 3 and 4. These schools prepare young children to enter formal education, and are funded by some combination of tuition, donations, and government grants.

In addition to explaining the type of school you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of students served, the number of students accepted into elite formal education institutions, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the school industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the school industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your school business plan:

• How big is the school industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your school? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your school business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: families with elementary-aged children, families with high-school-aged children, families with preschool children.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of school you operate. Clearly, families with high schoolers would respond to different marketing promotions than families with preschoolers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other schools.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes public schools, virtual schools, and families who do homeschooling. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of students do they serve?
• What type of school are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide specialized instruction, either in subject or in method?
• Will you offer courses or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a school business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of school that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide religious-focused K-8 education, college preparatory courses, or single-subject instruction like driving or fine arts?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the courses and/or extracurricular activities you offer and their prices.

Place : Place refers to the site of your school. Document where your company is situated and mention how the site will impact your success. For example, is your school located in a growing neighborhood, in the city center, or will you operate purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your school marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your school, including answering calls, planning and delivering instruction, applying for grants, fundraising, performing administrative tasks, overseeing instructors, handling discipline, scheduling and monitoring extracurricular activities, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to enroll your Xth student, or when you hope to reach $X in revenue. It could also be when you expect to expand your school to a new city.  

Management Team

To demonstrate your school’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing schools. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in running a school or experience with public school administration or who has served on a public school board.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you enroll 100 or 1,000 students per semester, and/or offer extracurricular activities? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your school, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a school:

• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your school location lease or a list of elective courses or extracurricular activities you will offer.  

Writing a business plan for your school is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the school industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful school.  

School Business Plan FAQs

What is the easiest way to complete my school business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your school business plan.

How Do You Start a School?

Starting a school is easy with these 14 steps:

• Choose the Name for Your School
• Create Your School Business Plan
• Choose the Legal Structure for Your School
• Secure Startup Funding for Your School (If Needed)
• Secure a Location for Your Business
• Register Your School with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your School
• Buy or Lease the Right School Equipment
• Develop Your School Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your School
• Open for Business

Learn more about   how to start your own school .

Don’t you wish there was a faster, easier way to finish your School business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to learn about Growthink’s business plan writing services .

Other Helpful Business Plan Articles & Templates

School Business Plan Template

Written by Dave Lavinsky

School Business Plan

You’ve come to the right place to create your school business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their schools.

Sample Private School Business Plan

Below is a school business plan template to help you create each section of your own education business plan.

Executive Summary

Business overview.

Southside Academy, located in St. Paul, Minnesota, is a private school that has been providing quality education to the community’s school children since 2017. Southside Academy teaches elementary, middle school, and high school students in a wide range of subjects including mathematics, science, and history. We aim to provide a welcoming and inviting environment where every student can reach their highest potential.

We promote academic, artistic, and athletic excellence in a close-knit learning environment, with a challenging curriculum that cultivates intellectual curiosity. Furthermore, we offer a low teacher-to-child ratio, where teachers can build close connections with their students as they help them excel. We develop confident, continual learners by establishing behavioral supports and the social culture needed for students to achieve social, emotional, and academic success.

Service Offering

Southside Academy offers a premium private education at an affordable tuition fee. We provide a challenging education where students can explore their true potential and a safe space where they can freely discover and express themselves. Our students range from 1st grade to 12th grade and we teach a wide variety of subjects including:

• Basic Mathematics
• Physical Education

Customer Focus

Southside Academy primarily serves families within a 5-mile radius of the school’s location. The area is home to thousands of middle and upper-class families looking for high-quality education for their children. Before the school was built, the area was underserved and many children had to travel far to attend quality private schools.

Management Team

Southside Academy’s founder is Mike Brown who has been working as a teacher for more than 20 years. Mike has taught at several public schools in the region but saw a great demand for private education. He noticed that the current location of the school was underserved and set out to create a school to serve this population. Mike Brown has successfully led Southside Academy as its principal since the school’s inception and will continue to do so for the foreseeable future.

Mike Brown is supported by a team that has experience teaching students, managing finances, and running businesses. Specifically, our team has solid experience in being effective teachers, connecting to different types of students, and achieving key goals.

Success Factors

Southside Academy is able to achieve success by offering the following competitive advantages:

• Location: Southside Academy’s location is near the center of town, giving members of our community easy access for parents and their children.
• Passionate and Skillful Teachers: Southside Academy hires teachers with strong academic backgrounds who are skillful in handling all types of children.
• Low teacher-to-student ratio: We provide a low teacher-to-student ratio so that every student gets personal attention from teachers to reach their highest potential.
• Affordable, quality education: Most of the schools in the area offer their services at a very expensive price. Our fees will be moderately low so that good education is accessible to all families.

Financial Highlights

Southside Academy is currently seeking additional donations of $600,000 in order to fulfill our mission. The breakdown of the funding may be seen below:

• Salaries: $200,000
• School Materials (books, toys, desks, chairs, etc): $180,000
• Administrative Expenses: $120,000 to pay for lease costs, ongoing operational expenses, and marketing.
• Working capital: $100,000

The following graph below outlines the pro forma financial projections for Southside Academy.

Company Overview

Who is southside academy, southside academy’s history.

Southside Academy started as an idea from a group of school teachers, including Mike Brown. The teachers were university pals who are passionate about teaching and children. They have seen the gaps in education in St. Paul, Minnesota, and wanted to create a school that elevates the academic environment for the children of this area.

Their plans to build a school started in 2015, but it was only until April 2016 that they finally completed all the paperwork and met the legal requirements. Since then, Southside Academy has achieved the following milestones:

• Found a location and built the school
• Developed the school’s name, logo, and website
• Determined curriculum
• Hired teachers and other key employees

Southside Academy’s Services

Industry analysis.

Education is an essential foundation for a thriving society. It’s more important than ever before that every child has access to affordable, high-quality education. While public schools are an essential option for many low-income families, the education provided by private schools often results in higher test scores and more students moving on to top-tier universities.

The private school industry has experienced steady growth in the past five years. The key industry drivers are economic growth, the rise in numbers of K-12 students, an increase in the number of families with both parents working, and government initiatives to support education.

According to Polaris Market Research, this growth is expected to continue with a forecasted compound annual growth rate of 6.6% from now until 2030. This shows that Southside Academy has great potential to keep growing and expanding. We will have ample opportunities to grow our curriculum and offer services to students that help them reach their highest potential.

Customer Analysis

Demographic profile of target market.

Southside Academy serves the families and children of St. Paul, Minnesota. The area is mostly populated by young couples and new families that have disposable income and can pay a premium for their children’s education.

The precise demographics of the town in which our location resides are as follows:

Customer Segmentation

We primarily target the following three customer segments:

• Young children
• Young couples

Competitive Analysis

Direct and indirect competitors.

Southside Academy faces competition from other schools with similar profiles. A description of each competitor company is below.  

Waters Independent School

Founded in 1968, Waters Independent School is a non-profit and tax-exempt independent school system. The school is governed by an independent Board of Trustees and offers preschool through eighth-grade programs. WIS is accredited by the state’s Council of Independent Schools (FCIS).

Waters Independent School has small class sizes with low student-to-teacher ratios. Further, WIS’ Programs include a strong academic foundation coupled with programs in the arts, physical education, media/technology, foreign language, and extracurricular areas.  

Hill Preparatory School

Founded in 1923, Hill Preparatory School is a private, non-sectarian, coeducational, college preparatory day school. It offers PK-12 programs in a safe, student-centered environment. HPS supports its students through the challenges of the school year with one-on-one attention from dedicated faculty, robust services like The Learning Center and the College Center, and the most advanced educational technology. The campus spans 28 acres and has a new 60,000+ square foot facility.  

Future Leaders Preparatory School

Founded in 1968, Future Leaders Prep is a private school for PreK3-8th grade. FLPS offers preschool, elementary school, and middle school programs and offers the International Baccalaureate program of study for all students. Teachers are endorsed in gifted education through a master’s level grant with [local University]’s College of Education Gifted Program. In addition to the school, Future Leaders offers community programs such as music, dance, art, and theater lessons through the Community School of the Arts, youth sports in the Community School for Sports, and the 7-week summer camp.

Competitive Advantage

There are many schools in St. Paul, Minnesota but none of them provides the same quality of education that Southside Academy provides, specifically the following:

Marketing Plan

Brand & value proposition.

The Southside Academy brand will focus on the school’s unique value proposition:

• Providing premium education at an affordable price
• Providing a supportive and challenging place for children to learn
• Giving parents the assurance that their children will reach their full potential

Promotions Strategy

The promotions strategy for Southside Academy is as follows:

Social Media

Southside Academy will invest heavily in a social media advertising campaign. The school will utilize social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Publications

The school will place print advertisements in key local publications, including newspapers, area magazines, and business newsletters. Additionally, Southside Academy will print brochures and place them in specific locations frequented by target individuals.

Website/SEO

Southside Academy will invest heavily in developing a professional website that displays all of the features and benefits of Southside Academy. It will also invest heavily in SEO so that the school’s website will appear at the top of search engine results.

Direct Mail

Southside Academy will blanket neighborhoods with direct mail pieces. These pieces will provide general information on Southside Academy and incentives to enroll.

Southside Academy prices its tuition at a moderate price so our students and their families feel they are getting great value when choosing our school.

Operations Plan

The following will be the operations plan for Southside Academy.

Operation Functions:

• Mike Brown is the school Principal. He manages the teachers, directs the direction of education, and serves as the head of the school.
• Mike is joined by Amanda Johnson who acts as the Administrative Assistant for the school. She helps Mike with the operations of the school as well as the marketing and administrative functions.
• Mike has hired an extensive team of highly qualified educators. Together, they teach dozens of subjects, including biology, chemistry, social studies, and mathematics. Every teacher that works for Southside Academy is passionate about education and pushing their students to reach their highest potential.

Milestones:

Southside Academy expects to achieve the following milestones in the following six months:

• 3/202X Kickoff of promotional campaign to attract new students
• 4/202X Start donation campaign
• 5/202X Hire new teachers for the upcoming year
• 6/202X Achieve donation/funding goal
• 7/202X Finalize list of incoming students for next year
• 8/202X Start next school year

Financial Plan

Key revenue & costs.

Southside Academy’s revenues come from student tuition fees and donations from both individuals and corporations.

The major costs for the company will be staffing, marketing expenses, location maintenance, equipment, and materials.

Funding Requirements and Use of Funds

Southside Academy is currently seeking additional fundraising and capital of $600,000 in order to fulfill our mission. The breakdown of the funding may be seen below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and to pay off the startup business loan.

• Year 1: 200
• Year 2: 300
• Year 3: 400
• Year 4: 500
• Year 5: 600
• Tuition rate per year: $10,000

Financial Statements

Income statement, balance sheet, cash flow statement, school business plan faqs, what is a school business plan.

A school business plan is a plan to start and/or grow your school business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your School business plan using our School Business Plan Template here .

What are the Main Types of School Businesses?

There are a number of different kinds of school businesses, some examples include: private K-12 school, charter school, virtual schools, independent schools, primary school, secondary education, or preschool.

How Do You Get Funding for Your School Business Plan?

School businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a School Business?

Starting a school business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A School Business Plan - The first step in starting a business is to create a detailed school business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your school business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your school business is in compliance with local laws.

3, Register Your School Business - Once you have chosen a legal structure, the next step is to register your school business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your school business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary School Equipment & Supplies - In order to start your school business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your school business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful school business:

• How to Start a School

Other Helpful Business Plan Templates

Nonprofit Business Plan Template

• New Hamphshire
• Add Your School
• Start a Private School
• Free Resources
• Articles & Resources

Business Plan & Budget

Documenting your vision.

A business plan is an essential part of the planning process, helping identify goals and metrics and your plan to achieve them.

• Starting with your objectives
• Business plan vs. a budget
• Business plan types
• Creating your business plan
• Creating your budget

Planning for Your New School

Your business plan and budget are important tools for two reasons:

First, before you invest your time, energy and money in opening a school, it is important that you have a plan for yourself that you can believe in. Opening any business is hard work and carries risk - schools are no exception! Having a plan can allow you to move forward with confidence.

Second, your plan can be helpful to help others understand how you expect to turn you vision from dream to reality. From recruiting staff to recruiting financial backing, a solid plan allows you to build confidence in others, too.

In this section we look at the fundamentals for school business plans and budgets, and how these are derived from your vision and objectives.

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Websites & Admissions

Starting with your objectives.

As Lewis Carroll so playfully points out: you need to first know where you want to go, and then you can build a plan to get there.

If you’ve not already started with the work outlined in the school identity section of this guide, now is a great time to review the topics on core values and mission. Once your core values and mission are clear, you can begin to set objectives by examining questions such as:

Who are the students and families you want to serve? There are any number of ways you might think about this: are you intending to provide services for an underserved population or a group with particular needs that aren’t being met in your community? Are you wanting to bring together families with a common interest or ideology, whether that is an academic focus, religious conviction, academic philosophy, or opportunity for particular experiences?

What is the ideal size for your program? Even knowing you won’t get there right away, do you ultimately want to remain a small community of 18 or 24, or does your objective require a population of 300 or 500 or 1000 students to support the diversity of programming, staff expertise and varies programs you’d like to offer?

What role do you want to create for yourself? This can be a particularly tricky question, but it is crucial to step back and consider as part of your plan. If your first love is working in the classroom, you should have a plan that allows you classroom time. That may mean splitting time between administrative tasks and a small class workload, or it could mean having a large enough enrollment to bring in a full-time administrator. If you are excited by strategy and operations, and enjoy building a team, recruiting parents, and overseeing the day-to-day running of the school, keep yourself in an administrative role. There are dozens of roles you might choose to play: why not use this opportunity to ensure you put yourself in your dream job?

Once you’ve worked through your objectives (and written them down!) you’re ready to move on and begin planning.

Business Plan vs. Budget

A common misconception is that a well-defined and detailed budget is essentially the same as a business plan. While a solid budget is an important component of a business plan, a true business plan looks beyond just the projected income and expenses to answer questions about both strategy and tactics. 

The Role of a Business Plan

Business plans can seem daunting if you’ve never had to write one before. It is a must-have document, though, as it serves as a road map for your new school. Although there are many things that are going to be a part of the business plan, it is there to explain what you hope to accomplish with your school and how you are going to accomplish it. Additionally, business plans serve as important documentation for financial institutions or investors to see whether your school is worth investing in.

The Role of a Budget

Budgets, on the other hand, are primarily internal documents you’ll use to track your income and expenses and determine where your spending should take place. If you need new textbooks or want to give someone a raise, your budget will guide you through your decisions and help you determine if you have the money to do so, or what you need to accomplish to make it happen.

Business Plan Types

Creating a business plan can take time, but the good thing is that they tend to follow a consistent format – so you can basically work from a template to create yours. There are two common approaches used today:

Traditional "Full" Business Plan

A traditional, full business plan tends to be comprehensive and detailed. Creation of a full business plan can be time consuming but going through the process will help identify areas of planning that you may not have considered, and the resulting plan should provide sufficient details to be used when talking with banks or investors. For full business plans, the US Small Business Administration has a great  step-by-step guide  that walks you through each section of your business plan, along with some examples to look at.

Start-Up "Lean" Business Plan

An alternate approach is the lean start-up plan, which is faster to write and focuses more on high-level plans and a few key elements. Lean plans can be a good place to start, with the assumption you will update and revise the plan frequently.  Particularly if soliciting funding, you may require additional time and detail later. Tim Berry, one of the leading experts on lean business plans, provides a good overview in his  What's a Lean Business Plan  article.

Creating Your Business Plan

There are lots of options for online business plan templates and most share a lot of common characteristics. There’s nothing wrong with picking one based on personal taste. Any of the following are excellent options as a starting point:

growthink (non-profit business plans)

Rocket Lawyer

My Own Business Institute

InvoiceBerry

US Small Business Administration

That there are many internet-based companies that offer business plan writing or editing, specifically. Here are just a few that you might want to check out:

Cayenne Consulting

Go Business Plans

Wise Business Plans

Many of the same companies that provide the business plan templates we highlighted are business consultants, not just business plan writers. Consultants can help you in your overall plans, particularly in areas where you may need guidance.

Professional organizations and associations for private schools, as well as your local chamber of commerce are also great resources for finding business consultants to assist you in creating your business plan and beyond.

Creating Your Budget

Understanding your costs.

The costs you’ll incur as a new school are really dependent on the choices you make in facilities and staffing. You’ll find a lot of useful information in those sections of this guide and they will help you get a clearer picture of the various expenses you’re going to face as you open up your school.

One of the great things about a budget is that, as long as you can easily read and understand it, the format isn’t going to make or break you. That said, staying organized and keeping track of everything takes a good system. One of the most popular methods is using a spreadsheet or system of spreadsheets to plan your income and expenses. Smartsheet has an excellent business budget template that you can modify to meet the needs of your school.

Once you are up and running, insight into actual income and expenses can be generated by your accounting software. Some accounting packages include budgeting tools as well, easing the work of comparing your plan to your actual numbers.

Tools to Assist With Budget Creation

Several excellent resources exist that can help you develop a budget, including:

The American Association of School Administrators has put together a  School Budgets 101  document that outlines common expenses and budgetary considerations for schools

The Guardian published  A beginner's guide to planning and managing school budgets in 2016, which explains several important budgeting principals.

Helping Educators Do the Work That Matters

Guide Quick-Nav

Introduction

We’ve developed these 10 topics to help you along the way. Take them all in at once, or start with the areas most relevant right now.

School Identity

There’s plenty you can do to develop your own brand, starting right from your personal ideals and goals for your school.

Our curriculum pages include ideas on where to go to find materials, and different associations and educational models you may want to consider.

Legal & Operating Requirements

You need to know the requirements at both the federal level and for your state. Here are the basic details for every state.

Funding & Finance

Here we share ideas for possible funding sources, and ways you might be able to start with less than you thought necessary.

Having a plan for how you’ll operate and a budget to predict and allocate funds is critical for all businesses, schools included. We’ve pulled together resources here to help with both.

What facilities are right for your school? We encourage new schools to get creative, and have compiled some considerations to take into account.

How can you find and recruit the right talent for your school? What qualifications or certifications are required?

Policies & Procedures

Thinking about more than just a student handbook and conduct code, we've included recommendations & templates to help you develop your school policies & procedures

Marketing & Online Presence

Associations

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How to Open a School: Planning, Budget & Recruitment Tips

Last Updated: April 19, 2024 Approved

• Planning Process

Choosing a Type of School

• Legal Requirements

Budgeting & Business Plans

• Culture, Curriculum, & Policy

Building Development & Staffing

Marketing & enrollment.

This article was co-authored by Helena Ronis . Helena Ronis is Co-founder and CEO of AllFactors, a unified web analytics software to drive company's marketing and business growth. She has worked in product and marketing in the tech industry for over 8 years, and studied Digital Marketing & Analytics at the MIT Sloan School of Management Executive Program. There are 13 references cited in this article, which can be found at the bottom of the page. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 26 testimonials and 92% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 470,926 times.

Congratulations! You're joining parents and teachers around the world who want to reinvent education by starting their own schools. Starting a school and sharing your vision for education with the world can be one of the most satisfying career choices you'll make. But where to start? A bit of planning is essential at all steps in the process, but there is also so much support available to you. Read this article for a complete, step-by-step guide to opening your own school.

Starting Your Own School

• Decide whether you’re opening a nonprofit or for-profit school
• Form an advisory board and work together to craft a school mission statement.
• File for incorporation and accreditation with your state’s education department.
• Create a school business and budget plan, along with funding options.
• Develop your school’s brand, including the name, mascot, logo, and color palette.
• Find a building and hire your staff. Develop a curriculum and policy handbook.
• Recruit and enroll students to attend your school.

Beginning the Planning Process

• Starting a school can be a difficult and lengthy process. By having a community to bounce ideas off of and seek advice from, you’ll feel more supported and connected throughout this journey.
• September/October: Contact accrediting bodies and review state education laws.
• November: Prepare your school’s mission statement.
• December: Check out possible buildings and study local demographics.
• January: Assemble your board of directors and start enrollment for the school.
• February: Work with the board to finalize your mission statement and incorporate the school.
• March: Have your proposed building inspected by the fire department and school officials. Initiate any necessary construction work.
• April: Interview and hire faculty and staff. Design school curriculum.
• May: Review student enrollment applications and send out admission letters.
• June/July: Purchase or collect donated furniture and teaching equipment. Assemble classrooms and equip the school with internet/phone services.
• August: Begin orientation meetings with faculty and staff.
• September: Open the school for its first academic year!

• When you’ve found someone you want to join your board, send them an email or schedule a lunch where you can tell them about your mission and the need for your school.
• Find a compelling way to describe your path and how it’s brought you to this step.
• Then, schedule a meeting (in-person or over Zoom) to tell your potential board members more about why you need their expertise and how they will serve your community.
• If someone does commit, make sure you agree on the amount of time, financial support, and skills you need from them.
• Charter schools are free to attend but run on an application system. Charters are granted by the state along with 3-5 years of funding. If the school fails to meet expectations, the charter is not renewed.
• Because charter schools run independently of the public school system, they can offer unique learning environments and specializations. However, teachers have a constant pressure to go above and beyond that can lead to burnout.
• Magnet schools are another type of public school that specialize in certain areas, e.g. technology, science, history, or the arts. Some magnet schools admit students based on achievement, while others operate on a lottery system.
• Traditional private schools operate completely separately from public school systems, which is why they charge tuition and fees to attend. Private schools can be nonprofit or for-profit, and they can also be religious or non-religious.
• Microschools or learning pods are schools with class sizes of 15 or less. The students are usually of varying ages, and the schedule and curriculum are built around their needs. [4] X Research source
• Keep in mind that some religious schools only hire teachers and administrators that identify with that religion—this could limit your school’s performance or perception of inclusivity.
• In some states, it’s also required for religious schools to be sponsored by or affiliated with a religious institution, such as a church, synagogue, mosque, or temple.
• Non-religious schools are based on secular teachings that aren’t bound by any specific religious beliefs.
• Rather than having religion-based policies and curricula, non-religious schools usually develop a set of core values that are upheld by teachers and students.
• Non-profit schools, on the other hand, are run by an active board of trustees. This board is typically in charge of the hiring process and pass down management of the school for generations.
• It’s much easier to raise funding for nonprofits, as they’re permitted to accept tax-deductible contributions from community members and businesses.
• However, you first have to apply for tax-exempt status with the IRS in order to be recognized as a nonprofit organization. [7] X Research source

Legal Requirements & Accreditation

• It may be worth hiring a lawyer to help you navigate the legal requirements of opening a school. Look for a lawyer with experience in schools, or even someone who accepts pro bono work in the education field.

• Often, there's a corporate filing office or business bureau with which you can fill out the papers. Usually, there is a fee of several hundred dollars associated with the forms.
• After incorporating your school, apply for accreditation with your state’s educational division. Begin this process at least 2-3 months before the start of school.
• The authorized educational agencies in your area will conduct an assessment of your school and whether it’s following educational standards.
• Once your school has been successfully accredited, you can start accepting enrollments.

• Net earnings may not inure to the benefit of any private individual or shareholder.
• No substantial part of its activity may be attempting to influence legislation and may not intervene in political campaigns.
• The organization’s purposes and activities may not be illegal or violate fundamental public policy.

• The tax-exempt status can be time-consuming, and you may want to consult a lawyer to go over the paperwork with you and ensure that you're interpreting and filling it out correctly.
• To file for tax-exempt status, fill out IRS form 1023, found here .

• An executive summary.
• A description of the school.
• The workforce structure.
• Your budget plan and market analysis.
• A checklist of objectives for the schools.
• Marketing and enrollment strategies.
• An estimate of how many students you’re likely to enroll.
• Ideally, the person on your board with financial experience should be developing your business budget .
• You can also hire an accounting firm with nonprofit experience to create your budget for you.
• Lean on the conservative side when calculating your expenses and income. Worst case, you’ll end up with more money than you had planned for!

• Apply for grants appropriate to your school and use the money toward implementing your vision.
• Look for investors in your community or through online platforms like Donor Box and Give Lively .
• Make sure to write a solid business proposal that you can present to potential investors.
• If you own tangible assets like land property or computer sets, you can use them as capital for fundraising and grants.

Designing School Culture, Curriculum & Policy

• What are your values?
• Who do you want to serve?
• What kind of education does this community need?
• What will your school provide that other schools cannot?
• What kind of social, intellectual, and emotional experience do you want to give your students?
• Where do you want your school to be in 5 years, 25 years, and 100 years?
• What type of school do you want to start? For-profit or nonprofit? Nonprofits are extremely difficult to establish but have long-term benefits. If you want to start on a smaller scale, you could consider beginning with a few after-school classes, a part-time homeschool coop, or a playgroup.
• Finalize your school’s brand by choosing fonts and colors that will consistently be used to represent and market your school.
• Stick with a color palette of 4-5 shades—try a palette generator like Coolors to preview different color combinations.
• Use a graphic design website like Canva to create your school’s logo. If design isn’t your strong suit, ask someone on your board or hire a freelancer from a service like Fiverr .
• You could also open your school brand decisions up to the community! Issue a town- or city-wide contest that potential students can enter. Ask them to design their dream school’s name, mascot, color palette, and logo.

• How long are classes?
• How many classes in a day?
• When will the day start and end?
• How will lunches be organized?
• How will teachers be scheduled?
• What do your students need?
• What is the objective of the students' learning?
• What criteria will be used to assess learning?
• How will students be tested?
• What constitutes graduation from the school?

• Will your school be test-heavy? Writing-based? Discussion-centered? May teachers select their own texts or select from approved books?

• To avoid this lengthy auditing process, consider using a pre-existing curriculum such as Montessori or Waldorf.
• If you're interested in forming a school with a pre-set ideology or pedagogy, contact the legislative body for the organization you'd like to join. They can help you with the next steps in adopting their curriculum.
• Create a separate handbook for staff that outlines school policies as well as employment information, such as sick leave policies, vacation day accrual, payroll processing, standards for dress, and expectations for afterschool activities.
• Use this sample employee handbook and sample student/parent handbook to get started.
• To develop your procedures, create an operations manual for staff that outlines how you’d like things to be done at the school. When it comes to attendance, for example, note who takes attendance, how it’s reported, what counts as a tardy/absence, and if/when parents are notified of their child’s attendance status.
• Keep your operations manual simple for the time being—you will inevitably have to alter and add to it as new situations arise at school.

• Along with your inspection, learn the zoning codes for your school’s location. Zoning may affect what types of structures you can build on your school property.
• If possible, design your physical space to facilitate your school’s mission and curriculum.
• For example, perhaps you want permaculture to be a hands-on part of the science curriculum. Make room for gardening spaces in your school.
• Or maybe you want your school to highlight critical race theory—build a DEI library and discussion spaces into your building plans.

• Your teachers will be the single most important factor in the quality of your school’s education, so choose them wisely.

• While it may be tempting to take anyone who wants to enroll in your school, it's very important that prospective parents are fully on board with your vision, or it could cause serious problems later.
• If you have a large school to fill, you could consider designing a high-impact branding, marketing, and public relations plan and be prepared to carry it out with gusto
• Alternatively, you could choose to list your school on a marketplace to take care of much of the marketing work.

• When they enroll their child, ask parents to sign a contract and put down a down payment.
• Many great organizations exist that can take the hassle out of processing tuition payments for you.

Community Q&A

• Consider conducting a feasibility study to determine whether or not opening a school will be a viable option. Early in the startup process, it is essential to take a hard look at your vision and determine how best to proceed. You may also want to interview people in your community about whether there is a need for this type of school Thanks Helpful 0 Not Helpful 0

You Might Also Like

• ↑ https://www.pbs.org/newshour/education/start-school-one-familys-recipe-startup-success
• ↑ https://www.rasmussen.edu/degrees/education/blog/types-of-schools/
• ↑ https://www.edchoice.org/engage/microschools-what-are-they-what-do-they-cost-and-whos-interested/
• ↑ https://farragut.org/religious-vs-non-religious-education-in-private-schools/
• ↑ https://www.privateschoolreview.com/blog/for-profit-vs-not-for-profit-schools
• ↑ https://jagconsultingservices.com/10-steps-to-starting-a-private-school/
• ↑ https://www.fldoe.org/schools/school-choice/private-schools/opening-a-private-school.stml
• ↑ http://www.irs.gov/publications/p557/ch03.html
• ↑ https://www.uschamber.com/co/start/strategy/nonprofit-registration-guide
• ↑ https://amshq.org/Educators/Montessori-Schools/Starting-a-School
• ↑ https://portal.ct.gov/-/media/SDE/Health-Education/curguide_generic.pdf
• ↑ https://amshq.org/School-Resources/Starting-a-School/Some-Considerations-and-First-Steps.aspx
• ↑ https://choosetwine.com/starting-a-private-school/policies-procedures/

About This Article

If you want to start your own school, visit your state’s website for their Department of Education and familiarize yourself with any laws and regulations that will apply to you. Write out a curriculum including class length, school hours, assessment criteria, and other organizational details, then present the curriculum to your state’s school board and have it approved. After that, form a corporation and secure funding for your school, lease or construct the school building, and hire your staff before the start of the new school year! Keep reading to learn how to attract students to your school! Did this summary help you? Yes No

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School Business Plan Template [Updated 2024]

School Business Plan

If you want to start a school or expand your current school, you need a business plan.

The following school business plan template gives you the key elements to include in a winning business plan. In addition to this template, a well-crafted plan will include market research to help you better understand the school industry, market trends, your competitive advantage and your target market. It will also help you craft a smart marketing strategy and a strong financial plan.

You can download our business plan template (including a full, customizable financial model) to your computer here.

Below are links to each of the key components of an education business plan to help you launch a successful school. This can be used for a variety of school business plans, including a private school business plan, a charter school, public schools, independent schools, virtual schools, primary or secondary education.

• Executive Summary – The executive summary provides an overview of your business opportunity and summarizes the business plan.
• Company Overview – The company overview includes information about your business concept, academic and extracurricular activities offered, and legal structure.
• Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the education industry.
• Customer Analysis – The customer analysis provides an overview of your target customers.
• Competitive Analysis – The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.
• Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy, examples of marketing materials, and search engine optimization plan.
• Operations Plan – The operations plan includes information on your school’s day-to-day operations and processes.
• Management Team – The management team section includes a profile of the organizational structure, school leaders, their experience and responsibilities.
• Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

Download our business plan template (including a full financial projections model and financial statements).

Comments are closed.

School Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

34+ SAMPLE School Business Plan in PDF | MS Word | Google Docs | Apple Pages

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Step 1: school overview, step 2: executive summary, step 3: school services.

• Literacy services
• Numeracy services
• Meeting accreditation standards
• Foundations in science and mathematics
• Foundations in geography and history
• Giving extracurricular activities
• Giving books and school materials

Step 4: Mission Statement and Vision Statement

Step 5: job description, step 6: swot analysis.

• Strengths – What is the ace of your school against your competitors?
• Weaknesses – On what aspects are your school lacking?
• Opportunities – Where does your school excel in teaching?
• Threats – What can make a student leave your school?

Step 7: Market Research

Step 8: sales plan, step 9: publicity plan, step 10: school budget, share this post on your network, file formats, word templates, google docs templates, excel templates, powerpoint templates, google sheets templates, google slides templates, pdf templates, publisher templates, psd templates, indesign templates, illustrator templates, pages templates, keynote templates, numbers templates, outlook templates, you may also like these articles, 5+ sample investment company business plan in pdf.

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Home » Sample Business Plans » Education » School

How to Write a Private School Business Plan [Sample Template]

Are you about starting a private school (nursery, primary or high school)? If YES, here’s a complete sample private school business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a private school.

We also took it further by analyzing and drafting a sample private school marketing plan template backed up by actionable guerrilla marketing ideas for private schools. So let’s proceed to the business planning section.

Why Start a Private School?

One of the best things that can happen to anyone is to have a private school. This is one very lucrative business that will continue to rake in money for its owners. As an aspiring entrepreneur who is looking towards starting a business, you should ensure that whatever business you intend to start, you make sure that it is located in an appropriate place.

For example; if you want to start a private school, it will be a wrong business judgment if you decide to site the school close to an industrial area or close to a market. Aspiring entrepreneurs therefore are urged as a matter of necessity to ensure that they carry out a thorough market research and feasibility study of the industry they intend to go into before investing their hard earned money and time.

It is known fact that the demand for private schools is driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location. In some cases, students with special needs cannot cope in public schools hence the need for private schools.

If you think starting a private school business sounds like what you want to do. Then you may want to use the business plan below as a guide.

A Sample Private School Business Plan Template

1. industry overview.

Private schools which is also known in the united states as independent schools, non-governmental, or non – state schools are schools that are not administered by either the local, state or the federal governments; hence, they have the right to select their students and are funded in whole or in part by charging their students tuition fees, rather than relying on mandatory taxation through public (government) funding.

Some private schools have structure in place that offer scholarships to some students, which makes the cost cheaper, depending on a talent such as sport scholarship, art scholarship, academic scholarship the student may be brining to the private school, financial need, or tax credit scholarships that might be available.

The Private Schools industry comprises of primary that is kindergarten through sixth grade and secondary that is seventh through 12th grade) educational institutions that are predominantly funded through enrollment and tuition fees from students and of course from other private sources.

Recent reports released by IBISWORLD shows that the revenue for the Private Schools industry is expected to increase, as the economy continues to recover. The indicated that during the five years to 2016, enrollment decreased, which was a trend attributable to rising costs and competition from charter schools.

However, going forward, in the next five years, household income is anticipated to increase, making it easier for families to afford private-school tuition. Additionally, enrollment declines will lesson, resulting in more stable demand for private schools

In the United States of America and of course in most countries of the world, The Private Schools industry is indeed a large and thriving industry. Statistics has it that The Private Schools industry in the United States of America, is worth $52 billion, with an estimated growth rate of 0.1 percent.

There are about 25,742 registered and licensed (accredited) Private schools scattered all around the United States of America and they are responsible for employing about 644,320 people.

Aside from Catholic schools, which is the second largest sector after government schools, with around 21 percent of secondary enrollments, no other private school can boast of dominating the market; every player in the industry can comfortably compete in the industry.

It is important to state that the barriers to entry into the Private Schools industry are high. As a matter of fact, the private school industry is an industry in which it is pretty difficult for new entrants to establish themselves. So also, the reputation of the private school is of utmost importance, as private schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

With this, it is obvious that a new entrant in to the private school industry cannot offer this. Reputation indeed is imperative to parents’ decisions when shopping for private school for their wards. This is so because the quality of education cannot be assessed until well after it is complete. As a major marketing tool, schools need to show parents a track record of admission to elite colleges and universities.

Even though this might seem like a saturated industry, the industry is still pretty much open for aspiring school proprietors and proprietress to still come in and compete. As a matter of fact, if you conduct your research and feasibility studies very well before starting your own private school couple with impressive profile of your faculty members, you are likely going to struggle less to make headway in the industry.

2. Executive Summary

Rolland Gyros International Private School is an international private school that will be located in a well – populated residential estate in Ashville – North Carolina, United States of America. We are a standard private school that is composed of primary (kindergarten through sixth grade) and secondary (seventh through 12th grade) educational institution that will be predominantly funded through tuition fees and levies from students and of course from other private sources.

Rolland Gyros International Private School is a client-focused and result driven private school that provides broad-based learning approaches and experience at an affordable fee that won’t in any way put a hole in the pockets of our clients (students and parents alike).

We will offer standard and professional teaching services in a highly secured and conducive learning environment to all our students that is primary (kindergarten through sixth grade) and secondary (seventh through 12th grade). We will ensure that we work hard to meet and surpass all our students’ expectations and educational goals whenever they enroll in our tutorial college.

At Rolland Gyros International Private School, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professional educationist cum teachers in various subjects who are well experienced and passionate in imparting knowledge to students at various learning ladder.

Rolland Gyros International Private School will at all time demonstrate her commitment to sustainability, both individually and as an educational organization, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our students.

We have plans to offer learning platforms to people with both learning disability and physical disability (especially the blind, the dumb and the deaf). Our overall business goal is to position our private school to become the leading tutorial brand in the educational industry in the whole of Ashville – North Carolina, and also to be amongst the top 30 private schools in the United States of America within the first 12 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Ashville is the right place to launch our private school.

Rolland Gyros International Private School is founded by Dr. (Mrs.) Irene Rolland Gyros and family. She is an educationist per excellence and she has won many awards in the education sector in the United States. Dr. (Mrs.) Irene Rolland Gyros has both the academic qualifications and experience to run a private school that can favorably compete with other leading private schools not only in Ashville – North Carolina, but also throughout the United States and Canada.

3. Our Products and Services

Rolland Gyros International Private School is going to offer varieties of educational services within the scope of the education board in the United States of America. Our intention of starting our private school is to soundly educate people in various subjects and of course to make profits from the education cum private schools industry and we will do all that is permitted by the law in the US to achieve our aim and business goal.

Our service offerings are listed below;

• Teaching basic literacy and numeracy
• Establishing foundations in science, mathematics, geography, history and other social sciences
• Constantly working hard to meet regulatory accreditation standards
• Administering private funding efforts
• Providing access to extracurricular activities
• Retailing of Educational Books and Materials

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive private school that will become the number one choice for both parents and students in the whole of Ashville – North Carolina.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and conducive learning environment to students at different level of learning.
• Our overall business goal is to position Rolland Gyros International Private School to become the leading private school brand in the educational cum private school industry in the whole of Ashville – North Carolina, and also to be amongst the top 30 private schools in the United States of America within the first 12 years of operations.

Our Business Structure

It is a known fact that, the success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available roles in the organization. Rolland Gyros International Private School will build a solid business structure that can support the growth of our private school.

We will ensure that we hire competent hands (teaching and non – teaching staff members) to help us build the private school of our dream. The fact that we want to become one of the leading private school brand in the industry in the whole of the United States of America makes it highly necessary for our organization to deliberately build a well – structured business from the onset.

We will work hard to ensure that we only attract people with the right mindset to help us achieve our business goals and objectives in record time. Below is the business structure that we will build Rolland Gyros International Private School;

• Head of The Private School(School Proprietress)

School Administrator

Tutors for Various Subjects – Secondary (seventh through 12th grade)

Tutors for Various Subjects – Primary (kindergarten through sixth grade)

• Accountant / Bursar
• Client Service Executive / Front Desk Officer

Security Officers

5. Job Roles and Responsibilities

Head of the Tutorial College / School Coordinator:

• Responsible for providing direction for the college
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals
• Responsible for fixing fees and signing business deals (partnership)
• Responsible for signing checks and documents on behalf of the tutorial college
• Coordinates all arms of the tutorial school (tutorial center, adult education, home tutors and special education)
• Evaluates the success of the tutorial college
• Reports to the board of the tutorial college
• Responsible for overseeing the smooth running of HR and administrative tasks for the tutorial school
• Designs job descriptions with KPI to drive performance management for tutors (teachers)
• Regularly hold meetings with key stakeholders (parents and member of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily activities of the private school.
• Effectively teach subject / subjects as assigned by the school administrator
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the private school
• Contributes his / her quota towards growing the private school
• Receives complaints from parents and channel it to the appropriate quarters
• Handle any other duty as assigned by the school administrator.
• Ensure that students abide by the rules and regulations of the school administrator
• Handles any other duty as assigned by the school administrator.

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the school

School Bursar (Accountant)

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for Rolland Gyros International Private School
• Serves as internal auditor for Rolland Gyros International Private School

Client Service Executive

• Welcomes / receive parents and students by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with parents and students (e-mail, walk-In center, SMS or phone) provides the parents and students with a personalized customer service experience of the highest level
• Through interaction with parents and students on the phone, uses every opportunity to build parent’s interest in the schools’ products and services
• Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to parents and students when they make enquiries
• Receives parcels / documents for Rolland Gyros International Private School
• Distribute mails in the organization
• Handles any other duties as assigned by the School Administrator.
• Responsible for cleaning the school facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the schools facility
• Handles any other duty as assigned by the school administrator
• Ensures that the school facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours basis
• Submits security reports weekly
• Any other duty as assigned by the school administrator

6. SWOT Analysis

Rolland Gyros International Private School engaged the services of a core professional in the area of business consulting and structuring with bias in the education sector to assist us in building a well – structured private school that can favorably compete in the highly competitive education cum private schools industry in the United States.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Rolland Gyros International Private School. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Rolland Gyros International Private School;

As a private school, our core strength lies in the power of our team; our workforce. We have a team with excellent qualifications and experience in the educational sector. We are well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors and welcome students for enrollment.

As a new private school in Ashville – North Carolina, it might take some time for our organization to break into the market and gain acceptance via reputation in the already saturated education cum private schools industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the education cum private schools industry is massive considering the number of parents who would want their wards to perform excellently well in their education and go ahead to be admitted in Ivy league colleges. As a standard and international private school, Rolland Gyros International Private School is ready to take advantage of any opportunity that comes her way.

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the private school.

Some of the threats that we are likely going to face as a private school operating in the United States of America are unfavorable government policies that might affect private schools, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The trend in the private school line of business is that the key to attracting students is the educational performance and the pass rate of their students in national exams. Any private school that has good records will always thrive. The demand for private schools is driven by the fact that most public cum government owned schools cannot accommodate every students or potential students in a given geographical location.

In some cases, students with special needs cannot cope in public schools hence the need for private schools. The economic downturn hasn’t really affected this industry, especially in countries that believe in the efficacy of education.

The areas you would need to spend heavily on is in ensuring that your school is up to standard, your advertisements, and on insurance policy cover. Lastly, it is trendier to find private schools engaging in extra – curricular activities and as a matter of fact, a private school that thrives in sports can leverage on that to attract students who are sports inclined.

8. Our Target Market

As a standard and international private school, Rolland Gyros International Private School is going to offer varieties of educational services within the scope of the education board in the United States of America. Our intention of starting our private school is to soundly educate people in various subjects and of course to make profits from the education cum private schools industry

Our target market as a private school cuts across people (students) of different class and people from different culture background whether African, White, Caucasian, Latinos, Indians, and Asians. We are coming into the education cum private schools industry with a business concept that will enable us work with the students at different learning stages residing in and around Ashville – North Carolina.

Our competitive advantage

Indeed the private schools industry is highly competitive and the entry barriers are high. As a matter of fact, the private school industry is an industry in which it is pretty difficult for new entrants to establish themselves. So also, the reputation of the private school is of utmost importance, as private schools that have a good history of getting students into prestigious colleges often have the best reputations hence good enrollments.

We are quite aware that to be highly competitive in the education cum private schools industry means that you should be able to deliver consistent quality service, your students should be able to experience remarkable difference and improvement and you should be able to meet the expectations of both students and parents alike.

Rolland Gyros International Private School might be a new entrant into the education cum private schools industry in the United States of America, but the management staffs and owners of the private school are considered gurus. They are people who are core professionals, licensed and highly qualified educationist / teachers at various levels of learning in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees (teaching and non – teaching staff members) will be well taken care of, and their welfare package will be among the best within our category (startups private school in the United States) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Rolland Gyros International Private School is established with the aim of maximizing profits in the education cum private schools industry and we are going to go all the way to ensure that we do all it takes to attract students on a regular basis.

Rolland Gyros International Private School will generate income by offering the following tutorial services;

• Teaching High school students various subjects in our private school

10. Sales Forecast

One thing is certain, there would always be parents and students who would need the services of private schools to be able to achieve their educational goals and as such the services of private schools will always be needed.

We are well positioned to take on the available market in Ashville – North Carolina and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the private school and our student base.

We have been able to critically examine the private schools cum education market in the United States of America and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Ashville – North Carolina. Below is the sales projection for Rolland Gyros International Private School, it is based on the location of our tutorial center and of course the wide range of tutorial services that we will be offering;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. So, there won’t be any major competitor (private school) offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst private schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing concerns. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the private school.

We will also ensure that our students’ excellent results from national exams and other exams speaks for us in the market place; we want to build a standard and first – class private school that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our private school to become one of the top 30 private schools in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Ashville – North Carolina but also in other cities in the United States of America.

Rolland Gyros International Private School is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our private school by sending introductory letters alongside our brochure to schools, parents / household and key stake holders in Ashville – North Carolina.
• Print out fliers and business cards and strategically drop them in schools, libraries and even student organizations.
• Creating a website, allows parents to be able to look you up, and also allows you to post general study tips, giving you an added advantage.
• Use friends and family to spread word about our private school
• Introduce Rolland Gyros International Private School to learning specialists, school coaches, school administrators, teachers, guidance counselors especially as they are with students everyday
• Post information about Rolland Gyros International Private School on bulletin boards in places like schools, libraries, and local coffee shops.
• Placing a small or classified advertisement in the newspaper, or local publication about Rolland Gyros International Private School
• Using tutorial referral networks such as agencies that will help match students with Rolland Gyros International Private School
• Joining relevant association or body that will enable you network and meet others in same industry.
• Advertising online by using an advertising platform such as Google Adwords, that will allow us place text advertisements alongside on websites with related contents, and along results from search engines.
• Advertise our private school in relevant educational magazines, newspapers, TV stations, and radio station.
• Attend relevant educational expos, seminars, and business fairs et al
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We are aware of the potency of a good publicity strategy hence we have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both parents and students in the whole of Ashville – North Carolina which is why we have made provisions for effective publicity and advertisement of our private school. Below are the platforms we intend to leverage on to promote and advertise Rolland Gyros International Private School;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Ashville – North Carolina.
• Engage in road show from time to time in targeted neighborhoods in and around Ashville – North Carolina
• Distribute our fliers and handbills in target areas in and around Ashville – North Carolina
• Passing general information via our school’s social media handles like twitter, Facebook, Google hangouts etc.
• Ensure that all our teaching and non – teaching staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.

12. Our Pricing Strategy

Private schools in the United States of America and of course in all the parts of the world charge students per tem / per session and students have the options of either paying their tuitions before resumption or during the school session.

Private schools generally charge students based on loads of factors, locations, services offerings and extra – curricular activities et al At Rolland Gyros International Private School we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance.

In addition, we will also offer special discounted rates to all our students at regular intervals. We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs.

• Payment Options

At Rolland Gyros International Private School, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via mobile money
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

In setting up a private school business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by acquiring a large facility, then you would need a higher amount of capital as you would need to ensure that your employees are taken care of, and that your private school’s environment is conducive enough for the students to learn.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a private school business; it might differ in other countries due to the value of their money. However, this is what it would cost us to start Rolland Gyros International Private School in the United of America;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring a large facility that will accommodate the number of block of closes, playing field, staff offices and parking lots et al (Re – Construction of the facility inclusive) will cost – $350,000.
• Equipping the classes and office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $50,000
• Launching an official Website will cost – $500
• The budget for the payment of salaries for the first three months of operations: $120,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $15,000

Going by the market survey and feasibility studies conducted, we came to the conclusion that we will need an average of $750,000 to start a small scale but standard private school in the United States of America.

Generating Funding / Startup Capital for Rolland Gyros International Private School

Rolland Gyros International Private School is a family business that will be owned and managed by Dr. (Mrs.) Irene Rolland Gyros and her immediate family. They are the sole financial of the private school which is why they decided to restrict the sourcing of the start – up capital for the private school to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is a known fact that the future of any business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and of course the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Rolland Gyros International Private School is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers (students and parents alike) over is to ensure that we offer nothing less than the best, to offer quality education to all our students so much so that they can favorably compete with students all over the United States and gain admission to Ivy League colleges.

Rolland Gyros International Private School will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

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School Business Plan Templates

Planning on Establishing a Nursery, Kindergarten, Primary School, or a Non-Profit Educational Institution for Underprivileged Students? Then Download Our Sample School Business Plan Templates! They Feature Standard Business Plan Format with Ready-Made Sections Such as an Executive Summary Page and Competition Analysis. Download Anytime for Free Only Here on Template.net!

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• School Biography
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A winning School Business Plan will keep you on track with your objectives. It will guide you on planning for the future because you already outlined your projected activities. For you to organize all your plans, we offer one of the best school business templates. These files are 100% customizable, easily editable, and printable that will help you save time. Make use of professionally written content. Simply modify some details that will suit your needs. Freely download all these in any file format such as Google Docs , Microsoft Word , and Apple Pages .

What Is a School Business Plan?

A school business plan lays all your school business objectives. It determines how the business intends to function and how it will become financially rewarding.

How to Create a School Business Plan

When attempting to attract finance for your school, a business plan template is very crucial. Your prospective investor will be able to read your well-written business plan discussing all their concerns, addressing their tough questions, and persuading them that your vision is good enough to justify financing.

This short guide will present useful tips and easy to follow instructions that will surely help you how to start a business plan. Read carefully and understand each detail.

1. Create an Executive Summary

Your executive summary must be a short review of the entire school business plan. It requires no more than a page or two in length. Here, you explain how your desired project will work. It has to be a clear and concise overview of the content of your proposal and maintain the same outline as the legal document in its entirety. Generally speaking, your executive summary should invite readers to read more. Make sure it is easy to follow and understand. 

2. Write a Business Description

Next step, write a business description. Although a lot of schools like private schools have an operational and  strategic plan , it is still quite uncommon for a school to create a business plan. In this part, it provides the background information that describes your school's history, needs, and the scope of business actions that your school is planning to develop. 

An article reveals that writing a business description is the most crucial and complex thing to do. This part narrates what your business is all about, how it will be run, and why do you think it will be a successful one.

3. Do Market Research

It has been reported that businesses fall short from time to time and their funders end up losing significant amounts of money. It is because they did not fully understand the industry they were running in and had not taken the initiative to conduct strong and intensive market plans and research before building a business. Knowing the market means understanding who are your prospective clients, what are their needs and the like.

The more guided your actions are, the greater the possibility of success for your school businesses.

4. Build Management and Structure

In any company conducting big or small business , management is accountable and responsible for its success and failure. It is essential to operate certain matters. A set of individuals pursuing a shared goal must perform together and they might need to manage their personal intentions to obtain that particular objective. For each individual in a position of accountability and responsibility, you must be detailed in defining their official professional experience, their expertise in a specific functional environment or industry, and a record of their accomplishments throughout their careers.

5. Make a Financial Plan

Financial resources evaluate the situations in which capital is obtained, the use of the capital as well as the scheduled payments and stake in economic activities. A financial report is accounting's entire picture. It essentially sums up the company's financial condition. The specific details are important to the management and other interested parties such as investors, shareholders or owners.

How to write a business plan for a private secondary school?

Putting together a business plan for a private secondary school can be daunting - especially if you're creating a business for the first time - but with this comprehensive guide, you'll have the necessary tools to do it confidently.

We will explore why writing one is so important in both starting up and growing an existing private secondary school, as well as what should go into making an effective plan - from its structure to content - and what tools can be used to streamline the process and avoid errors.

Without further ado, let us begin!

In this guide:

Why write a business plan for a private secondary school?

• What information is needed to create a business plan for a private secondary school?
• How do I build a financial forecast for a private secondary school?

The written part of a private secondary school business plan

• What tool should I use to write my private secondary school business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write a private secondary school business plan in the first place.

To have a clear roadmap to grow the business

It's rarely business as usual for small businesses. The economy follows cycles where years of growth are followed by recessions, and the business environment is always changing with new technologies, new regulations, new competitors, and new consumer behaviours appearing all the time...

In this context, running a business without a clear roadmap is like driving blindfolded: it's dangerous at best. That's why writing a business plan for a private secondary school is essential to create successful and sustainable businesses.

To write an effective business plan, you will need to take stock of where you are (if you are already in business) and where you want the business to go in the next three to five years.

Once you know where you want your private secondary school to be, you'll have to identify:

• what resources (human, equipment, and capital) are needed to get there,
• at what pace the business needs to progress to get there in time,
• and what risks you'll face along the way.

Going through this process regularly is beneficial, both for startups and existing companies, as it helps make informed decisions about how best to allocate resources to ensure the long-term success of the business.

To get visibility on future cash flows

If your small private secondary school runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your private secondary school's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your private secondary school business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your private secondary school's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Crafting a comprehensive business plan for your private secondary school, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.

Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.

For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).

Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your private secondary school has the potential for healthy growth, profitability, and consistent cash flow generation over time.

Now that you understand the importance of creating a business plan for your private secondary school, let's delve into the necessary information needed to craft an effective plan.

Information needed to create a business plan for a private secondary school

Drafting a private secondary school business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for a private secondary school

Before you begin writing your business plan for a private secondary school, conducting market research is a critical step in ensuring precise and realistic financial projections.

Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.

In the course of this research, you may stumble upon trends that could impact your private secondary school.

You may find that potential students are increasingly interested in extracurricular activities. Market research could reveal that students may be looking for a school that provides a variety of activities, such as sports teams, clubs, or other experiential learning opportunities. Additionally, market research could indicate that parents may be looking for a school that provides a high-quality education, with a focus on technology and innovation. This could mean that students are interested in being equipped with the skills necessary to succeed in a rapidly changing world.

Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.

By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your private secondary school.

Developing the marketing plan for a private secondary school

Before delving into your private secondary school business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of a private secondary school

Whether you are starting or expanding a private secondary school, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

Staffing costs for a private secondary school might include the salaries of the headmaster, teachers, administrative staff, custodial staff, and cafeteria workers. Equipment costs might include the purchase of textbooks, scientific equipment, computers, furniture, and other supplies.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your private secondary school, it is time to start creating your financial forecast.

What goes into your private secondary school's financial forecast?

The financial forecast of your private secondary school will enable you to assess the profitability potential of your business in the coming years and how much capital is required to fund the actions planned in the business plan.

The four key outputs of a financial forecast for a private secondary school are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's take a closer look at each of these.

The projected P&L statement

Your private secondary school forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.

Ideally, your reader will want to see:

• Growth above the inflation level
• Expanding profit margins
• Positive net profit throughout the plan

Expectations for an established private secondary school will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.

The projected balance sheet of your private secondary school

Your private secondary school's forecasted balance sheet enables the reader of your plan to assess your financial structure, working capital, and investment policy.

It is composed of three types of elements: assets, liabilities and equity:

• Assets: represent what the business owns and uses to produce cash flows. It includes resources such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: represent funds advanced to the business by lenders and other creditors. It includes items such as accounts payable (money owed to suppliers), taxes due and loans.
• Equity: is the combination of what has been invested by the business owners and the cumulative profits and losses generated by the business to date (which are called retained earnings). Equity is a proxy for the value of the owner's stake in the business.

Your private secondary school's balance sheet will usually be analyzed in conjunction with the other financial statements included in your forecast.

Two key points of focus will be:

• Your private secondary school's liquidity: does your business have sufficient cash and short-term assets to pay what it owes over the next 12 months?
• And its solvency: does your business have the capacity to repay its debt over the medium-term?

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your private secondary school has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your private secondary school business plan.

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

• Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
• Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
• Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your private secondary school business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The sources and uses table or initial financing plan is a key component of your business plan when starting a private secondary school.

It shows where the capital needed to set up the business will come from (sources) and how it will be spent (uses).

This table helps size the investment required to set up the private secondary school, and understand how risks will be distributed between the business owners, and the financiers.

The sources and uses table also highlights what the starting cash position will be. This is key for startups as the business needs to have sufficient funding to sustain operations until the break-even point is reached.

Now that you have a clear understanding of what will go into the financial forecast of your private secondary school business plan, let's have a look at the written part of the plan.

The written part of a private secondary school business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

The first section of your private secondary school's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.

When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.

Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.

Then you should follow with an overview of the addressable market for your private secondary school, current trends, and potential growth opportunities.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Finally, you should detail any funding requirements in the ask section.

2. The presentation of the company

The second section in your private secondary school's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your private secondary school to a third party financier, you could emphasize the potential of the local market. You may point out the benefits of a major city nearby, such as potential access to a highly-educated workforce, businesses, and other resources. You could also mention the potential for a robust transportation network, which could help your school attract students from a wider region. Additionally, you might mention the potential of the area to attract students from outside of the area, as the local geography and climate could be attractive to prospective students.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market. 

For example, your private secondary school might offer its customers a range of classes such as Advanced Placement (AP) courses, foreign language classes, and a variety of extracurricular activities. Additionally, the school might provide services such as guidance counseling, college admissions assistance, and mentoring programs. All of these offerings would help to ensure that students are well prepared for life after graduation.

4. The market analysis

When presenting your market analysis in your private secondary school business plan, you should detail the customers' demographics and segmentation, target market, competition, barriers to entry, and any regulations that may apply.

The goal of this section is to help the reader understand how big and attractive your market is, and demonstrate that you have a solid understanding of the industry.

You should start with the demographics and segmentation subsection, which gives an overview of the addressable market for your private secondary school, the main trends in the marketplace, and introduces the different customer segments and their preferences in terms of purchasing habits and budgets.

The target market section should follow and zoom on the customer segments your private secondary school is targeting, and explain how your products and services meet the specific needs of these customers.

For example, your target market might include affluent families who are willing to invest in their children's education and want them to attend a private school. These parents might value the quality of education, the smaller class sizes, and the extracurricular activities that a private school can offer. They would be likely to be willing to pay a premium for these features.

Then comes the competition subsection, where you should introduce your main competitors and explain what differentiates you from them.

Finally, you should finish your market analysis by giving an overview of the main regulations applicable to your private secondary school.

5. The strategy section

When you write the strategy section of your private secondary school business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.

The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.

Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.

For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.

Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.

Your private secondary school may face a variety of risks. For example, it could be at risk of financial losses if there is a decrease in enrollment numbers. Additionally, it might be vulnerable to cyber-attacks if its online systems are not properly secured. Adequate security measures and contingency plans should be in place to protect the school from these potential risks.

6. The operations section

The operations of your private secondary school must be presented in detail in your business plan.

Begin by addressing your staff, specifying the main roles and your recruitment plan to support the anticipated growth. Outline the qualifications and experience needed for each role and discuss your recruitment strategies, which may involve using job boards, referrals, or headhunters.

Next, clearly state your private secondary school's operating hours, allowing the reader to gauge the adequacy of your staffing levels. Additionally, mention any considerations for varying opening times during peak seasons and your approach to handling customer queries outside regular operating hours.

The key assets and intellectual property (IP) required to run your business should also be highlighted. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, ensure they are well-documented in this section.

Your private secondary school might have two key assets and forms of intellectual property: its proprietary curriculum and its brand. The curriculum could be a unique blend of traditional and innovative teaching methods that are tailored to the specific needs and goals of the school. It may also include a variety of resources to support students in their learning. Additionally, the school may have cultivated its own brand and image that differentiate it from other educational institutions. This might include a recognizable logo, mascot, mission statement, and other distinguishing characteristics.

Finally, provide a comprehensive list of suppliers you intend to collaborate with, along with a breakdown of their services and main commercial terms, such as price, payment terms, break clauses and contract duration. Investors often seek insight into the reasons behind your supplier choices, which may include a preference for higher-quality products or established relationships from past ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a private secondary school business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my private secondary school's business plan?

In this section, we will be reviewing the two main solutions for creating a private secondary school business plan:

• Using specialized online business plan software,
• Outsourcing the plan to the business plan writer.

Using an online business plan software for your private secondary school's business plan

Using online business planning software is the most efficient and modern way to create a private secondary school business plan.

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your private secondary school's business plan

Outsourcing your private secondary school business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the private secondary school business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your private secondary school's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a private secondary school business plan is not advisable. Allow me to explain the reasons.

Firstly, creating an accurate and error-free financial forecast on Excel or any spreadsheet demands technical expertise in accounting principles and financial modelling. Without a degree in finance and accounting and significant financial modelling experience, it's unlikely that the reader will fully trust your numbers.

Secondly, relying on spreadsheets is inefficient. While it may have been the go-to option in the past, technology has evolved, and software now performs such tasks much faster and more accurately.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software offers ease in comparing actuals versus forecasts and maintaining up-to-date forecasts for clear visibility on future cash flows, as we discussed earlier in this guide. Such tasks are cumbersome when using spreadsheets.

Now, let's address the written part of your private secondary school business plan. While it may be less prone to errors, using software can significantly boost productivity. Word processors lack instructions and examples for each section of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they lack automated formatting capabilities.

In summary, while some entrepreneurs may consider Word or Excel for their business plan, it's far from the best or most efficient solution when compared to specialized software.

• A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
• Having an up-to-date business plan is the only way to keep visibility on your private secondary school's future cash flows.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your private secondary school. Do not hesitate to get in touch with our team if you still have questions.

Also on The Business Plan Shop

• In-depth business plan structure
• Key steps to write a business plan?
• Free business plan template

Know someone who owns or wants to start a private secondary school? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Here's how you establish a profitable private school.

Launching a private school is an ambitious endeavor that can have a profound impact on the lives of students and the community at large.

Whether you're an educator with years of experience or an entrepreneur with a vision for innovative learning, establishing a private school requires meticulous organization and a commitment to excellence in education.

In this blog post, we'll navigate you through the crucial stages of opening a private school, from the foundational idea to the celebratory first day of classes.

How you should prepare to establish a private school

Market research and concept, choose a concept.

Choosing a concept is one of the first steps in opening a private school because it will define the educational approach, the curriculum, the extracurricular activities, and the type of students you aim to attract.

This decision will influence your school's location, architecture, class sizes, teacher recruitment, tuition fees, and marketing strategy. A well-defined concept can help your school stand out in a competitive market and draw in families looking for a specific type of education for their children.

In essence, selecting the right concept is like deciding on the educational philosophy and values you want your school to embody before you start shaping the learning environment and engaging with the community.

To assist you in making an informed choice, we have summarized the most popular concepts for private schools in the table below.

Pick an audience

When establishing a private school, it's crucial to tailor your educational offerings to the specific audience you aim to serve.

For instance, if you're looking to attract families who value academic excellence, your school might focus on a rigorous curriculum with advanced placement courses and a strong STEM program. You'd likely choose a location that's in a community known for valuing education and possibly near academic enrichment centers or libraries.

Alternatively, if your target audience is parents who are interested in a holistic education for their children, your school might emphasize a curriculum that includes the arts, outdoor education, and social-emotional learning. The school's environment might be designed with open, natural spaces and located in a serene setting.

Identifying your target audience is essential because it shapes every aspect of your private school, from the curriculum and extracurricular activities to the design of the campus and its location. It's akin to customizing a service; you consider what the families and students need before shaping your educational product. This ensures that your school meets their expectations and needs.

Moreover, understanding your audience enables you to communicate with them more effectively. If you know who you're trying to attract, you can determine the best channels to reach them, such as educational fairs, local community events, or online platforms frequented by parents.

In our business plan for a private school , we have outlined different customer segments that could be relevant for your educational institution.

To provide a clearer picture of potential audiences for your private school, we've compiled a few typical examples below.

Get familiar with the industry trends

When launching a private school, it's crucial to stay informed about the emerging trends in the education sector and integrate them into your school's ethos and curriculum.

Trends in education can give insights into what parents and students are looking for in a school. By embracing these trends, you can attract families who are seeking an educational experience that aligns with contemporary values and prepares students for the future. Additionally, differentiating your school with innovative programs can set you apart from more traditional educational institutions.

For instance, we regularly update our business plan for a private school to reflect the latest educational trends. We believe this is essential for developing a competitive and forward-thinking educational environment.

One significant trend is the emphasis on STEM (Science, Technology, Engineering, and Mathematics) education, as these areas are critical for future job markets. Schools that offer robust STEM programs can appeal to parents who want to ensure their children are prepared for technological advancements.

Another trend is the integration of social-emotional learning (SEL) into the curriculum, which helps students develop crucial life skills such as empathy, resilience, and effective communication.

Environmental sustainability is also becoming a key concern, with schools incorporating green practices and teaching students about ecological responsibility.

Moreover, in our digital age, offering coding and digital literacy courses can give students a competitive edge, while also enhancing their problem-solving and critical thinking skills.

We have compiled a list of more trends in the table below.

However, there are also some declining trends.

For example, traditional rote learning methods are becoming less popular as they do not foster the critical thinking and creativity that modern educational philosophies emphasize.

Also, schools that lack technological integration may fall behind, as digital skills are increasingly seen as essential for academic and professional success.

Finally, with a growing emphasis on personalized education, one-size-fits-all curriculums are being questioned for their effectiveness in meeting individual student needs.

Choosing the ideal location

Choosing the optimal location for your private school is a critical decision that can significantly influence its success and sustainability. This decision requires careful consideration of several key factors.

Understanding the local demographics is the first step. A thorough analysis of the community's composition, including the number of families, average income, and education levels, will help you determine the potential demand for your school. An area with a high concentration of families with school-aged children is ideal.

The school's visibility and accessibility are crucial. A location that is easily noticeable and reachable by various means of transportation can make it more attractive to parents. Look for areas with safe pedestrian pathways and convenient access to public transportation or major roads for easy drop-off and pick-up.

While competition from other private schools can be challenging, it also indicates a demand for educational services in the area. Researching the local educational landscape to identify gaps in the market can help your school stand out by offering unique programs or curricula.

Rent or property costs must be weighed against the potential for enrollment. Prime locations come at a premium, but they may justify the expense with higher visibility and accessibility. It's essential to ensure that the cost aligns with your financial projections and long-term budgeting.

Negotiating favorable terms for purchasing or leasing property can have a significant impact on your school's financial health. This might include long-term leases with fixed rates or options to purchase the property in the future.

Consider the growth potential of the neighborhood. Is the area developing in a way that could increase local enrollment? The ability to expand your facilities in the future without relocating can be a significant advantage as your school grows.

Proximity to community amenities, such as parks, libraries, and sports facilities, can enhance the appeal of your school to prospective families. These resources can be integrated into your school's programs and activities.

Using market research and demographic analysis tools can provide valuable insights into the best locations for your private school. These tools can help pinpoint areas with families that match your target demographic and are likely to value the educational services you offer.

The choice between a suburban and urban setting will depend on your school's mission and the community you aim to serve. Urban areas may offer a diverse student population and proximity to cultural institutions, while suburban areas might provide a more tranquil setting and potentially more space for facilities.

Being near residential developments or business districts can provide a steady stream of potential students, especially if your school offers programs that align with the needs of these communities, such as extended hours or extracurricular activities.

It's also vital to understand local zoning laws, educational regulations, and accreditation requirements to ensure that your chosen location is suitable for a private school. Compliance with these regulations from the outset can prevent costly adjustments and delays.

Finally, assessing the long-term viability of a location is essential. Consider any planned developments in the area that could impact your school, either positively by increasing the local population or negatively by introducing new competitors or raising property costs.

Startup budget and expenses

Calculate how much you need to start.

On average, the initial capital needed to open a private school can vary significantly, ranging from $250,000 to $500,000 for a small-scale operation to $1 million to over $5 million for a larger, more established institution with state-of-the-art facilities .

If you want to know the exact budget you will need for your own private school and also get a full detailed list of expenses, you can use the financial plan we have made, tailored to private schools . This excel file is designed to be user-friendly and will provide you with an instant and comprehensive analysis of your future project.

The budget can vary the most due to the location of the school. Prime locations in desirable neighborhoods or areas with high demand for private education tend to have higher property and rental costs, which can significantly increase startup expenses.

The size of the school is another major factor in determining the initial investment. A larger campus not only increases property costs but also requires more staff, classrooms, and resources, leading to higher operational costs.

The quality of facilities and educational resources is another significant factor. High-quality, modern facilities and resources are expensive but can attract more students and potentially justify higher tuition fees. Conversely, starting with more modest facilities can reduce initial costs but may impact the school's competitiveness and appeal.

If the available capital is limited, it's still possible to open a private school, but careful planning and prioritization are essential. The very minimum budget could be around $250,000 to $500,000 if you choose a low-cost location, minimize the size of your operation, lease instead of buy property, and manage much of the administrative work yourself. This approach requires a hands-on strategy, focusing on a niche educational philosophy or curriculum to stand out and reduce complexity and costs.

To make the most of a limited budget, consider the following tips.

Identify all your expenses

The expenses when starting a private school include facility acquisition or rental, licensing and accreditation, insurance, marketing and advertising, technology and software, staff hiring and training, curriculum development, and a reserve for unexpected expenses.

Acquiring or renting a facility that is safe and conducive to learning is one of the largest expenses. Costs can range from $50,000 to $500,000 or more, depending on the location, size, and condition of the property. This includes classrooms, administrative offices, and outdoor spaces.

Licensing and accreditation are essential for operating legally and ensuring educational standards. These costs can vary widely but typically range from a few thousand to tens of thousands of dollars, including state education department fees and regional accrediting body fees.

Insurance is critical to protect your school against liability, property damage, and other potential risks. Essential policies include general liability, property insurance, professional liability, and workers' compensation. Annual premiums can range from $5,000 to $20,000 or more, depending on the size of the school and the level of coverage.

Marketing and advertising are crucial for attracting students and building a reputation. Initial marketing efforts might cost between $2,000 to $10,000, including website development, online advertising, brochures, and open house events. The amount can vary based on the scale of the marketing campaign.

Investing in technology and software for student information systems, learning management systems, and administrative software is important. Costs can range from $5,000 to $50,000, depending on the sophistication of the systems you choose. Subscription-based services may have ongoing monthly fees.

Hiring and training staff is a significant expense, with initial costs for recruitment, background checks, and professional development. Setting aside $10,000 to $50,000 can help ensure you have qualified teachers and administrative staff. This also includes ongoing professional development and certifications.

Curriculum development is another key expense, which can include purchasing textbooks, licensing educational content, and developing unique programs. Initial costs can range from $5,000 to $25,000, depending on the breadth and depth of the curriculum offered.

Finally, setting aside a reserve for unexpected expenses or emergencies is crucial. A good rule of thumb is to have at least three to six months' worth of operating expenses saved, which could be anywhere from $100,000 to $500,000 or more, to cover unforeseen circumstances.

Here is a summary table to make it easier to digest. For a full breakdown of expenses, please check our financial plan for private schools .

Business plan and financing

Make a solid business plan.

Embarking on the journey of opening a private school requires meticulous planning and a clear vision, which is why crafting a business plan for a private school is indispensable.

Why is this so important? A business plan is the blueprint of your educational venture. It details your mission, educational philosophy, and the steps you will take to achieve academic excellence. It is also a critical tool for securing funding, as it shows potential investors and financial institutions the sustainability and profitability of your school.

A comprehensive private school business plan should encompass several key elements, including market analysis, financial projections, and operational strategies. Market analysis is crucial as it helps you understand the demand for private education in your area, the needs of potential students and parents, and the competitive landscape. This involves examining local demographics, assessing the performance and offerings of nearby schools, and identifying your school's unique value proposition.

Financial planning is equally vital. This section should detail your anticipated revenue streams, such as tuition fees, grants, and fundraising efforts, as well as expenses like faculty salaries, facility maintenance, and educational materials. It should also include financial statements like cash flow forecasts, income statements, and a break-even analysis. A robust financial plan provides a clear view of your school's fiscal prospects and operational sustainability. You can find a detailed example in our financial plan for a private school .

While there are commonalities between business plans for different types of ventures, a private school business plan has its unique focuses. For instance, it must emphasize academic program development, faculty recruitment and retention strategies, and compliance with educational standards and regulations. Additionally, the plan should address the physical infrastructure of the school, including classrooms, laboratories, libraries, and recreational facilities.

To develop a successful private school business plan, thorough research and realistic financial estimates are essential. Engage with the community to gauge interest and gather feedback on your proposed educational offerings. Consider the scalability of your school, potential for expansion, and how you might diversify your programs to meet changing educational needs.

Special attention should also be given to establishing a strong brand identity and marketing strategy that aligns with the values and expectations of your target audience. Whether it's through academic excellence, innovative teaching methods, or extracurricular enrichment, your school should stand out in a competitive market.

Success in establishing a private school is not solely based on the academic curriculum but also on strategic planning, understanding the educational market, prudent financial management, and effective execution of your operational plan.

Remember, a business plan is not static; it's a dynamic document that should be regularly reviewed and adjusted as your school develops and the educational landscape evolves.

Get financed

Concerned about how to finance your private school? There are multiple avenues to secure the necessary funds.

Financing for a private school can come from diverse sources, including attracting investors, securing loans from banks or financial institutions, and applying for educational grants or subsidies.

Each financing method has its own set of benefits and factors to consider.

Attracting investors means finding individuals or entities willing to provide capital in exchange for equity in the school. This can be advantageous as it doesn't require immediate repayment and can bring in a substantial amount of money.

However, it also involves relinquishing a share of ownership and possibly some degree of control over the school's operations and policies.

For a private school, this might be a viable option if you're looking to establish a school with high-quality facilities, a unique educational approach, or in a location with high demand for private education. To persuade investors, you'll need a robust business plan that shows the school's potential for growth, sustainability, and a clear grasp of the educational sector.

Securing a loan is another common method of financing.

While this option requires repayment with interest, it allows you to maintain complete ownership of the school. Loans can be used for a variety of purposes, such as constructing school buildings, equipping classrooms with the latest technology, or covering initial staffing costs.

Banks usually ask for a down payment or collateral, which might range from 20% to 40% of the loan's value. It's crucial to balance the amount of external financing to avoid overwhelming the school with debt. Ideally, the school's projected income should be sufficient to cover loan repayments while still allowing for educational quality and operational costs.

Grants and subsidies are another option, though they can be more challenging to obtain.

These funds are typically provided by government bodies or foundations that support educational initiatives. Grants and subsidies do not require repayment, but they often have stringent requirements and are highly competitive.

For a private school, grants might not be the primary source of funding but can be instrumental in funding special programs, scholarships, or infrastructure improvements.

To effectively secure financing, whether from lenders or investors, it's essential to prove the feasibility and financial viability of your private school.

This involves creating a detailed business plan that includes market analysis, an understanding of the educational landscape, comprehensive financial projections, and a strategic plan for student recruitment and retention. Your business plan should also emphasize what makes your school unique, such as specialized curricula, exceptional faculty, or innovative teaching methods.

Lenders and investors will evaluate your school based on criteria such as the credibility of the management team, the value of collateral offered, and the strength of the business plan.

They will scrutinize the financial projections of your school to determine if you can generate sufficient revenue to cover operational costs, repay debts, and still achieve educational excellence. A thorough understanding of the educational market, including trends, demographics, and competitive analysis, will bolster your case.

Below is a summary table of the various financing options mentioned for opening a private school, along with their advantages, considerations, and potential uses:

Legal and administrative setup

Permits and licenses.

Opening and operating a private school involves meticulous planning and compliance with various regulations and requirements to ensure the safety, education quality, and well-being of your students, as well as to safeguard your institution.

The specific permits, licenses, educational department regulations, inspection schedules, consequences of non-compliance, and insurance policies you'll need will differ based on your location, but there are common standards that are applicable in many areas.

First, you'll need to secure the necessary business permits and licenses.

This typically includes an educational institution license from your city or state, and possibly a business license. Depending on the services provided, you may also need additional certifications, such as a child care license if you offer pre-kindergarten programs, or accreditation from recognized educational bodies.

It's imperative to consult with your local government and educational authorities to understand the specific requirements for your region.

Regarding educational department regulations, private schools must comply with curriculum standards, teacher certification requirements, and student safety policies to ensure a high-quality educational environment.

This includes background checks for staff, adherence to building codes for educational facilities, and regular training for employees on emergency procedures. Educational department inspections are conducted to ensure compliance with these regulations. The frequency of inspections can vary, but they typically occur at least once every few years or more often if there are complaints or previous issues. Some jurisdictions may also require a pre-operational inspection before the school can open.

Non-compliance with educational department regulations can result in consequences ranging from fines to the revocation of the school's license to operate.

In severe cases, non-compliance can lead to legal action or the school's closure. It's crucial to take these regulations seriously and ensure your private school complies with all educational standards and safety requirements.

Insurance is another essential aspect of protecting your private school. At a minimum, you'll need general liability insurance to cover accidents or injuries that occur on your premises.

Property insurance is also vital to protect the school's physical assets from damage or theft. If you employ staff, workers' compensation insurance will likely be mandated by law to cover injuries or illnesses that occur as a result of their work.

Additionally, professional liability insurance, also known as errors and omissions insurance, might be prudent, as it can protect your institution in case of claims of educational malpractice or negligence.

Furthermore, considering student accident insurance could be beneficial to cover injuries that students may sustain while at school or during school-related activities.

Business Structure

The three common structures for opening a private school are Nonprofit Corporation, For-Profit Corporation, and LLC (Limited Liability Company). Each has their unique features and implications for your educational institution.

Please note that we are not legal experts (we specialize in educational consulting and financial planning) and that your choice should be based on the level of control you wish to maintain, the funding mechanisms you plan to use, your tax preferences, and your vision for the school's growth and legacy.

In simple terms, a Nonprofit Corporation is designed for institutions that operate for public benefit and can access grants and tax-exempt status. A For-Profit Corporation is aimed at generating profits for shareholders and has different tax implications. An LLC offers flexibility and protection, with potential benefits for smaller private schools.

Consider your long-term objectives, and consult with a financial advisor or attorney to make the best choice for your private school.

We’ll make it easier for you, here is a summary table.

Getting started to establish a private school

Offer development, design and lay out.

Designing and laying out your private school for operational efficiency and an optimal learning experience requires meticulous planning and strategic implementation.

Let's explore how you can accomplish this, focusing on student flow, balancing facility needs with budget, and ensuring health and safety.

Firstly, envisioning student flow is crucial.

Your school's design should facilitate a natural progression from the entrance to classrooms, administrative offices, the library, cafeteria, and recreational areas. This flow should be logical, minimizing congestion and ensuring a smooth transition from one area to the next. Place interactive displays or student work in common areas to engage students and celebrate their achievements.

This setup not only promotes a sense of community but also encourages students to take pride in their school environment.

Regarding the design to facilitate this flow, consider the layout's openness and accessibility.

Wide corridors, clear signage, and a logical arrangement of the space promote easy movement and a safe environment. The administrative area should be clearly marked and separate from the academic zones to reduce distractions and maintain a focused learning atmosphere. If your school includes recreational spaces, ensure they are comfortably distanced from classrooms to prevent noise interference.

Balancing the need for high-quality facilities with budget constraints is a challenge many schools face.

Start by prioritizing essential facilities that directly impact the quality of education, such as well-equipped classrooms and science labs. These are worth investing in because they are the core of your school's educational offerings. For other items, consider partnering with local businesses or applying for grants to fund technology or sports equipment.

Additionally, plan for facilities that offer versatility and adaptability, like multi-purpose halls or modular classrooms, to get the most value for your investment.

Health and safety in the school layout are non-negotiable. Your design must incorporate zones designated for different activities to prevent accidents and ensure a secure environment. For example, separate areas for sports, dining, studying, and relaxation ensure that each aspect of school life is contained and managed effectively. Install handwashing stations at key points, especially near the cafeteria and restrooms, to encourage regular hand hygiene among students and staff.

Specific protocols for emergency procedures, classroom cleanliness, and maintenance are crucial for safety and compliance. Implement a system that ensures all facilities are regularly cleaned and maintained, with safety equipment like fire extinguishers and first aid kits readily accessible.

Train your staff thoroughly in health and safety practices, emphasizing the importance of regular drills, maintaining a clean environment, and monitoring student well-being.

Regularly review and update these protocols to comply with local education regulations and best practices.

Craft your offer

Your curriculum and educational programs will be the cornerstone of your private school's success (or the reason for its struggles).

To begin, understand the educational needs and preferences of your target market through direct engagement, such as parent-teacher meetings, feedback forms, and social media interactions, as well as indirect research, like analyzing educational trends in your region and reviewing the offerings of successful competitor schools.

Once you have a comprehensive understanding of what parents and students are looking for, you can start to develop a curriculum that not only meets their educational needs but also distinguishes your school from others.

Incorporating local culture and global perspectives into your curriculum is an excellent way to enhance its relevance and appeal. This approach not only prepares students for local community involvement but also equips them with the skills needed to compete in a globalized world. Forge partnerships with local organizations and international educational institutions to provide a diverse range of learning experiences. This knowledge allows you to plan your educational programs with a balance of local relevance and international standards, offering special programs that can attract parents looking for a comprehensive education for their children.

To ensure your school's educational offerings stand out in a competitive market, focus on innovation and excellence.

This can be achieved by offering specialized programs that are rare to find elsewhere, such as STEAM (Science, Technology, Engineering, Arts, and Mathematics) initiatives, language immersion programs, or courses that focus on environmental stewardship and sustainability. Sharing the success stories of your alumni and the achievements of your current students can also add a unique appeal.

Ensuring consistency and quality in your educational delivery involves setting high standards and clear learning outcomes.

This can include a well-structured curriculum, ongoing professional development for your teaching staff, and regular assessments to monitor student progress. Consistency is key to building trust with parents and students, as they will know exactly what to expect in terms of educational quality and student support. Invest in high-quality teaching resources and technology, and be prepared to continuously update your curriculum to ensure it meets the highest educational standards.

Additionally, utilizing feedback from students and parents is crucial for the continuous improvement and refinement of your school's educational programs. Create channels for feedback, such as suggestion boxes, online forums, and parent councils, to understand what your stakeholders appreciate and where there might be room for enhancement.

Be open to constructive criticism and willing to implement changes based on stakeholder input. This not only aids in refining your educational offerings but also demonstrates to students and parents that you value their opinions, fostering a sense of community and encouraging long-term engagement with your school.

Determinate the right pricing

When opening a private school, it's crucial to establish a pricing strategy that balances profitability with the perceived value of the educational services you provide. Here's a structured approach to setting your tuition fees.

Firstly, you must calculate your costs comprehensively. This includes teacher salaries, administrative staff wages, facility maintenance, utilities, educational materials, technology, extracurricular programs, and any other operational expenses. Understanding these costs is fundamental to ensure that your tuition fees cover them and yield a sustainable profit margin.

Next, examine the competitive landscape. Research other private schools in your area to understand their pricing structures. While you don't need to match or undercut their fees, this information will help you position your school within the market.

Understanding the demographics and economic profiles of the families you aim to attract is essential. Gather insights through community engagement, surveys, or open houses to determine what parents value most in their children's education and what they are willing to pay. This will help you identify a price point that reflects the quality of your school without alienating potential customers.

Psychological pricing can also be applied in the educational sector. For example, setting tuition at $9,950 instead of $10,000 can make the cost seem significantly lower, even though the difference is relatively small. However, you should maintain the perceived prestige and quality of your school, so use this strategy with caution.

The perceived value is critical in justifying your tuition fees. This can be enhanced by the school's academic reputation, the qualifications of your teaching staff, the breadth of your curriculum, and the quality of your facilities. Providing an exceptional educational experience, including personalized attention, state-of-the-art resources, and a safe and nurturing environment, can support higher tuition fees because parents perceive a greater value in the education their children receive.

Consider implementing flexible payment plans or early payment discounts to accommodate different financial situations and encourage timely enrollment. Additionally, offering scholarships or sibling discounts can make your school more accessible and appealing to families with multiple children.

For new programs or expansions, introductory pricing can attract early adopters. Once the program is established and its value recognized, you can reassess the fees based on demand and operational costs.

Online courses or supplementary programs might have different cost structures compared to in-person offerings. Pricing for these should reflect the savings on physical resources while still providing value. Exclusive online discounts or package deals can also incentivize enrollment in these programs.

Finally, be cautious with discounting. While financial aid and scholarships are important for accessibility and diversity, frequent or deep discounts can undermine the perceived value of your school. Use discounts judiciously to maintain the integrity and reputation of your institution.

By carefully considering these factors, you can set tuition fees that reflect the quality of education you provide, meet operational costs, and ensure the financial health of your private school.

Manage relationships with your suppliers

Poor relationships with suppliers could significantly hinder your private school's ability to provide a high-quality education.

On the contrary, building strong ties with educational resource suppliers and service providers will ensure the steady availability of top-notch educational materials and support services.

Regular communication, timely payments, and expressing appreciation for their products and services can foster loyalty and reliability. Be transparent about your expectations and needs, and whenever possible, visit their operations. This deepens your understanding of their processes and challenges, enabling you to work together more effectively.

Additionally, consider long-term contracts for key educational resources to secure better prices and guarantee supply, but also maintain a network of backup suppliers to mitigate risks of shortages.

For managing educational resources, inventory management techniques such as First-In, First-Out (FIFO) are essential. This approach ensures that older resources are used before newer deliveries, reducing the risk of outdated materials. Regularly monitor inventory levels to adjust orders according to curriculum changes and student enrollment, avoiding overstocking and minimizing obsolescence. Implementing a just-in-time (JIT) inventory system can also be effective, where resources are ordered and received as needed for the academic year, though this requires precise forecasting.

Technology can significantly improve resource management and reduce waste in a private school.

Implementing an inventory management system that integrates with student information systems (SIS) allows for real-time tracking of resource levels and usage data. This technology can help predict needs more accurately, streamline ordering processes, and identify trends that can inform curriculum development and educational strategies.

Additionally, digital tools can facilitate better communication with suppliers, enabling more efficient order adjustments and collaboration.

Scaling educational offerings presents challenges such as maintaining curriculum consistency, managing increased costs, and ensuring educational quality. Address these challenges by standardizing teaching materials and processes, training staff thoroughly, and investing in technology that can increase efficiency without compromising educational quality.

Scaling up also means more educational resources, so negotiate pricing with suppliers for bulk purchases without sacrificing resource quality. Quality control becomes even more critical as enrollment increases, requiring strict adherence to educational standards and more frequent reviews.

Implementing effective cost control measures involves scrutinizing every aspect of sourcing and using educational resources and services. Regularly review and negotiate with suppliers to ensure you're getting the best prices without compromising quality.

Also, consider alternative resources that may offer cost savings or seasonal pricing advantages. Utilize technology to track and analyze costs, waste, and resource levels to identify areas for improvement. Reducing waste not only cuts costs but also aligns with sustainable practices, appealing to environmentally conscious parents and stakeholders.

Hire the right people

When opening a private school, you should carefully consider the staff you need to ensure a high-quality educational environment. Initially, you may not need to hire a full complement of staff, but there are certain key roles that are essential from the start.

At the core, your private school will require a team that covers instruction, administration, and support services.

For instruction, you'll need qualified teachers who are experts in their subject areas and have a passion for teaching and developing young minds. A principal or headmaster with strong leadership skills and educational experience is crucial to set the academic standards and oversee the entire school operation.

For administration, administrative staff including admissions officers and office managers are vital to handle the day-to-day operations, manage student records, and communicate with parents and the community. A financial manager or accountant who can oversee the school's budget, payroll, and financial planning is also important.

Support services such as maintenance staff, IT specialists, and school counselors are essential to maintain the school's infrastructure, support the technology needs of the staff and students, and address the emotional and academic well-being of the students, respectively.

Some roles, like extracurricular coaches, specialized subject tutors, or additional administrative assistants, may not be necessary right away and can be added as the school grows and the demand for these services increases. Outsourcing can be a strategic option for certain services, such as IT support or janitorial work, to allow your core team to focus on education and student development.

When hiring, prioritize candidates with the appropriate educational qualifications, teaching experience, and a commitment to fostering a positive learning environment.

For teachers, look for a combination of formal education credentials, teaching certification, and classroom experience. Administrative staff should have experience in educational administration, strong organizational skills, and excellent communication abilities. For leadership roles like the principal, seek out individuals with a proven track record in educational leadership and a vision for school success.

To ensure a good fit with your school's culture and values, consider including teaching demonstrations, interviews with multiple stakeholders, and thorough reference checks in your hiring process.

Seek candidates who are passionate about education and have the adaptability to work in a dynamic school environment.

Finding the right candidates can be challenging, so utilize education job boards, teacher recruitment agencies, and professional education networks. Attending education job fairs and partnering with universities can also be effective strategies. Offering professional development opportunities can attract high-quality candidates looking to advance their careers.

Here is a summary table of the different job positions for your private school, and the average gross salary in USD.

Running the operations of your private school project

Daily operations.

Running a private school efficiently is key to providing quality education and ensuring smooth daily operations. By adopting the right strategies, you can create an environment that is conducive to learning and growth.

Firstly, implementing a School Management System (SMS) tailored to the needs of educational institutions can greatly enhance your administrative efficiency.

Choose an SMS that integrates student information, academic records, and financial management. This integration allows you to monitor student progress, manage class schedules, and handle billing and payments seamlessly.

Many advanced SMS platforms also include communication tools, which facilitate better interaction with parents and students. These tools can support announcements, homework assignments, and even parent-teacher conference scheduling.

For academic management, you'll want software that can track student performance and attendance accurately.

The best systems provide analytics on student grades and attendance patterns, helping you identify areas where students may need additional support. This can lead to targeted interventions and improved educational outcomes.

Effective supplier management is also crucial for a private school, particularly when it comes to educational materials and technology.

Establish solid communication channels with suppliers and set clear expectations about delivery times, product quality, and payment terms. A strong relationship can lead to better service and possibly discounts. It's also prudent to have alternative suppliers to ensure that educational materials are always available when needed.

Creating a positive work environment for your teaching and administrative staff is essential. This includes regular professional development, transparent communication of goals and expectations, and constructive feedback.

Recognizing and rewarding excellent performance can boost morale and motivation. It's also important to create fair work schedules that respect your employees' work-life balance.

Ensuring a positive experience for students and parents begins with the school's atmosphere, the quality of education, and the service provided by your staff.

Train your staff to be approachable, professional, and supportive. Encourage them to know students and parents, making the educational journey feel personalized and attentive.

Maintaining a clean and safe school environment, with clear signage and an organized layout, also contributes to a positive experience.

Effective customer service policies for a private school might include a commitment to educational excellence, clear communication channels for concerns and suggestions, and a system for collecting and responding to feedback.

Make it easy for parents and students to provide feedback, whether through your school's website, parent-teacher meetings, or via official communication channels. Address feedback promptly and constructively, showing that you value their input and are dedicated to continuous improvement.

When handling complaints, you should listen fully before responding. Apologize if necessary and offer a solution, such as additional support or a meeting to discuss the issue further.

Use negative feedback as a chance to refine your educational approach, facilities, or services. Turning a challenging situation into a positive outcome can often result in strengthened trust and loyalty from parents and students.

Revenues and Margins

Know how much you can make.

Understanding the financial dynamics of a private school is crucial for its sustainability and growth.

We have an in-depth article on the financial management of private schools that provides extensive details. Here, we'll highlight some key points.

One important metric for private schools is the average tuition fee per student. This figure represents the average amount a family pays for one child's education per year.

The average tuition fee can vary widely depending on the type of private school. For elite preparatory schools, which offer extensive extracurricular activities and advanced placement courses, the average tuition fee might range from $20,000 to $40,000 annually.

For parochial schools, which may be subsidized by religious organizations, the average tuition fee could be lower, perhaps $5,000 to $15,000 per year.

Montessori and other alternative education schools might have tuition fees that fall somewhere in the middle, potentially $10,000 to $25,000 annually, depending on their programs and facilities.

When it comes to revenue, private schools have a broad range. Urban private schools in affluent areas might see annual revenues of $1 million to $10 million , depending on their size and reputation.

Rural private schools, with a smaller potential student base, might expect annual revenues in the range of $500,000 to $3 million .

Newly established private schools often face lower revenues as they work to attract students and build their reputation. Initial annual revenues might not exceed $250,000 .

Conversely, established private schools with strong alumni networks and high student retention rates can enjoy stable and substantial revenues.

Elite preparatory schools, with their higher tuition fees and often larger endowments, can sometimes exceed $10 million in annual revenue .

Parochial schools may have more variable revenues due to their reliance on both tuition fees and donations from their affiliated religious organizations.

Private schools don't just rely on tuition fees for revenue. They have multiple streams that contribute to their financial health.

If you're looking for inspiration, here's a table that outlines various potential revenue streams for a private school.

Understand your margins

As with any business, understanding the financial health of a private school is crucial for its sustainability and growth. Revenue alone does not paint the full picture; we must delve into the expenses and margins to gauge the true profitability of the institution.

Let's explore the gross and net margins, which are key indicators of a private school's financial performance.

To calculate your own margins and get a precise figure for potential profit, you can adjust the assumptions in our financial model designed for private schools .

The typical range of gross margins for private schools can vary, often ranging from 60% to 80%.

Gross margin is calculated by subtracting the cost of services (COS), which includes direct costs associated with providing educational services such as teacher salaries, classroom materials, and other educational expenses, from the tuition and fees revenue, then dividing this number by the total revenue, and multiplying by 100 to get a percentage.

Net margins consider not only the COS but also all other expenses a private school incurs, such as facility maintenance, administrative expenses, marketing, and taxes. This figure is obtained by subtracting all operating expenses from the gross profit.

Net margins offer a more complete view of a private school's profitability and are typically lower than gross margins, with averages often ranging from 10% to 20% across the sector, reflecting the tighter profitability after all costs are considered.

Different types of private schools—day schools, boarding schools, and specialty schools—can have varying profit margins due to differences in their operational models, scale, and target demographics. Here is a table to illustrate these differences.

It's evident that the margins of a private school are influenced by factors such as the range of programs offered, tuition strategy, and scale of operations.

A broad range of programs can attract more students but may increase operational complexity and costs. Tuition strategy is critical; fees must be competitive yet sufficient to cover costs and yield a profit. Scale of operations can impact cost efficiencies, with larger schools often benefiting from lower per-unit costs.

Ongoing expenses that affect private school margins include teacher salaries, facility maintenance, administrative costs, and marketing. Salaries are a significant expense, as quality education is heavily reliant on skilled staff. Facility costs can vary greatly depending on location and amenities offered, and marketing is essential to maintain and grow enrollment.

Private schools that focus on niche markets, such as Montessori or International Baccalaureate programs, may experience different margin dynamics compared to more traditional private schools.

While niche schools can command higher tuition fees, they also face higher operational costs and potentially limited market size, which can impact overall margins.

External factors such as economic conditions, demographic shifts, and educational trends also play a crucial role in private school margins. Economic downturns can affect families' ability to pay tuition, while demographic trends can influence enrollment numbers. Staying current with educational trends and adapting programs accordingly can help manage these fluctuations.

Addressing the challenge of maintaining healthy margins in the face of rising operational costs is significant. Private schools can counter these challenges through efficient cost management, strategic tuition pricing, optimizing operations for energy efficiency, and investing in technology for administrative productivity.

Regular tracking and analysis of financial performance (which can be done with our financial model specifically for private schools ), including gross and net margins, is essential for ensuring the financial health and long-term viability of a private school.

Implement a strong marketing strategy

Marketing for a private school doesn't have to be an intricate puzzle. We understand that you'll be focused on providing quality education and managing the day-to-day operations of your school, so we'll keep our marketing strategy recommendations straightforward and impactful, as outlined in our business plan for a private school .

Developing a brand for your private school is essential.

Your brand represents how students, parents, and the community perceive and remember your school. It's more than just your emblem or the school colors; it's the culture, educational philosophy, and the experiences you offer. Your brand should mirror the excellence of your educational programs, the environment of your school, and the values you uphold, such as academic excellence, character development, or innovation. A strong brand differentiates your school in a competitive market and fosters a committed community.

Begin your marketing plan by identifying your target audience. Who are the families you aim to attract? What are their priorities? Do they value a rigorous academic curriculum, a strong sports program, arts integration, or a particular educational philosophy? Knowing your audience will shape your branding and promotional efforts.

When it comes to promotion, social media and digital marketing are potent channels for private schools. Platforms like Facebook, Twitter, and LinkedIn are ideal for sharing your school's achievements, events, and educational content.

Provide a glimpse into daily school life, which adds a personal connection and demonstrates the dedication and passion of your staff.

Parent testimonials and student success stories can build credibility and inspire prospective families to consider your school. Educational insights or thought leadership articles can also engage your audience, positioning your school as a leader in education.

Content strategies that resonate with private schools include highlighting unique programs, showcasing student-led projects, celebrating academic and extracurricular accomplishments, and emphasizing community service initiatives. Partnering with local organizations or educational influencers can also increase your visibility.

However, not every tactic will be suitable for your school. For instance, if your school prides itself on a specialized curriculum, broad advertising that doesn't speak to that focus may not be the best investment. Similarly, if your target demographic is local families, international marketing efforts might not be relevant.

Even with a modest budget, there are clever ways to attract new students.

First, consider hosting open house events or educational seminars that can showcase your school's strengths directly to interested families. This not only promotes enrollment but also enhances your school's profile.

You can also offer trial classes or summer programs to give families a taste of your school's offerings.

Collaborating with local businesses and community organizations can extend your reach and build partnerships.

Implementing a referral program can motivate current families to recommend your school to others. Simple referral incentives or recognition programs can be quite effective.

Lastly, never underestimate the influence of word-of-mouth marketing. Encourage your satisfied families to share their positive experiences, perhaps by offering a discount or special recognition for successful referrals.

Grow and expand

We want your private school to thrive and become a beacon of educational excellence. The insights provided here are intended to help you along this journey.

Imagine your private school is already performing well, with a strong reputation and a healthy financial position. Now it's time to consider how to scale and expand your educational services.

There's always potential for greater impact, and we're here to support you in realizing that potential.

Also, please note that there is a 5-year development plan tailored for private schools in our business plan template .

Successful private school administrators often possess qualities such as vision, leadership, a commitment to educational excellence, and the ability to connect with students, parents, and the community. These traits are essential as they guide the strategic growth of their institution.

Before adding new programs or expanding grade levels, consider the existing demand in your community, the compatibility of new offerings with your current curriculum, and how these changes will impact your operations.

Market research is critical in this decision-making process. By understanding the educational needs, demographic trends, and the success of similar programs elsewhere, you can make informed decisions that align with your school's mission and community expectations.

Evaluating the success of current operations involves looking at enrollment trends, parent and student feedback, and operational efficiency. If your school consistently meets or exceeds enrollment targets, receives positive feedback, and operates effectively, it may be time to consider expansion.

Opening additional campuses should be based on clear evidence of demand, a deep understanding of the target demographic, and the financial health of your existing operation.

Franchising offers a way to expand with lower capital risk, leveraging the entrepreneurial spirit of franchisees. However, it requires a strong brand, proven educational systems, and the ability to support franchisees. Opening owned branches provides more control over educational quality but requires more capital and direct management. Each model has its benefits and challenges, and the choice depends on your strategic goals, resources, and preferred growth path.

Digital channels, including online learning platforms and social media, can significantly enhance a private school's reach and educational offerings. Establishing an online presence allows you to cater to students beyond your immediate geographic location, adapting to the increasing demand for flexible learning options.

This strategy requires an understanding of digital education trends, logistics for virtual classrooms, and maintaining educational quality in a digital environment.

Branding is crucial as it differentiates your school in a competitive market. A strong, consistent brand identity across all campuses and platforms can enhance community loyalty and attract new families. Strengthen your brand by ensuring that every interaction reflects your school's values, culture, and commitment to educational excellence.

Maintaining consistency across multiple campuses is challenging but essential. This can be achieved through comprehensive operational manuals, teacher training programs, and quality control systems.

Regular visits and audits, along with fostering a strong, shared culture, help ensure each campus upholds the standards that contributed to your original site's success.

Financial metrics and business benchmarks indicating readiness for expansion include consistent profitability, a robust cash flow, and meeting or exceeding enrollment projections over a significant period.

Additionally, having a scalable business model and the operational capacity to support growth is crucial.

Partnerships with other educational institutions and participation in community events can introduce your school to new families and markets. These opportunities allow for creative collaboration, community engagement, and brand visibility, contributing to your school's growth.

Scaling educational services to meet increased demand involves considerations such as faculty recruitment, facility upgrades, and possibly expanding your campus. Ensuring that your educational delivery can handle the increased volume without sacrificing quality is key.

Finally, it's essential that your expansion efforts stay true to your school's core values and long-term vision. Growth should not come at the expense of the educational integrity and community trust that made your school successful in the first place.

Regularly revisiting your business plan and values can help ensure that your expansion strategies align with your vision and mission, sustaining the essence of your private school as it grows.

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated April 17, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

Free business plan template

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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How to create a business plan: examples & free template.

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

Executive Summary

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

Competitive Analysis

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

What are the Different Types of Business Plans?

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

What questions should be asked in a business plan?

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

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Alex Jones Estate Liquidation Gets Sandy Hook Families’ Vote

By Alex Wolf

The families of Sandy Hook school shooting victims voted overwhelmingly in favor of a plan to wrap up Alex Jones’ bankruptcy proceedings by liquidating the right wing talk show host’s assets.

Jones’ general unsecured creditors—comprised mostly of Sandy Hook families holding about $1.5 billion in defamation judgments against the famed conspiracy theorist—voted 100% in favor of a Chapter 11 plan that would methodically liquidate and redistribute his property and cash, while preserving potential legal actions against parties affiliated with Jones and his Infowars program.

An official committee appointed to represent Jones’ unsecured creditors notified the US Bankruptcy Court for the Southern District of Texas on Feb. 16 that of 23 liquidation plan ballots distributed to creditors, it received 21 back—all supporting the committee’s liquidation proposal .

The vote indicates the creditors’ preference over a competing plan submitted by Jones that would allow him to reorganize by preserving parts of his media empire and paying the group at least $5.5 million a year over 10 years. His plan would provide additional creditor recoveries out of disposable income from Jones’ bankrupt Infowars parent company, portions of Jones’ personal income, and the proceeds from selling various personal assets.

No ballot tabulation for Jones’ plan has been submitted to the court yet.

The parties are scheduled to hold plan approval hearing in late March.

Jones filed for Chapter 11 protection in December 2022, after being hit with state court judgments for repeatedly calling the 2012 massacre of elementary school students and teachers a hoax. Bankruptcy Judge Christopher Lopez ruled last year that Jones can’t discharge the defamation awards because those debts stemmed from intentional and malicious conduct.

Jones is represented by Crowe & Dunlevy PC and Jordan & Ortiz PC.

The creditors’ committee is represented by Akin Gump Strauss Hauer & Feld LLP.

The case is In re Alexander E. Jones , Bankr. S.D. Tex., No. 22-33553, notice filed 2/16/24.

To contact the reporter on this story: Alex Wolf in New York at [email protected]

To contact the editor responsible for this story: Maria Chutchian at [email protected]

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School district implements lesson plan for elementary students about pronouns

DEWITT, Mich. ( WILX /Gray News) – A public school district in Michigan is planning on teaching elementary students about pronouns in an effort to help all students feel understood and included.

The new lesson plan in DeWitt Public Schools will explore pronouns through discussion and literature.

A statement from district superintendent Dr. Shanna Spickard reads:

“This lesson is to emphasize the importance of inclusivity, which is a core value of the district. The mini-lesson is not designed to challenge or alter family beliefs, instead, it aims to ensure a safe and respectful learning environment.”

However, the lesson plan is sparking debate across the community with opposing views from parents.

Brandi Strahan, a parent whose kids attend DeWitt Elementary Schools, said she believes elementary school is too young for a discussion about pronouns.

“They don’t need to learn, you know, about anything that’s personal or sexualized or, you know, gender-specific, at five years old,” Strahan said. “Those are my babies, and that’s my right and my husband’s right.”

She continued, “They don’t know who they are yet. They’re still growing. They don’t know anything other than love.”

On the other hand, a former DeWitt parent said she likes the idea of the new lesson plan, saying it would have helped her child in the past.

The parent, identified only as Janna, said her son may have been better understood by his peers growing up if there had been school lessons about pronouns and gender identity.

“When my kid was young, I thought [gender nonconformity] was just a phase,” Janna said. “I thought everybody was doing it, and I thought it was the new hip thing until my kid tried taking his life because he wasn’t understood and wasn’t accepted.”

Janna said ultimately, she hopes the lesson would help every child feel accepted.

“Even if people don’t understand it, it’s all about inclusion and, you know, making every kid feel safe and welcome in any district,” she said.

In the letter sent to parents by the DeWitt School District, the lesson will start in the coming weeks. Parents have until Thursday to opt their kids out of the lesson or to request a more in-depth look at the lesson plan.

Copyright 2024 WILX via Gray Media Group, Inc. All rights reserved.

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Vanderbilt courts billionaire Jeff Greene, others for West Palm Beach campus plan

The "southern ivy" school wants a business school and college for a.i. and computer science in downtown west palm beach..

• Months after the University of Florida campus plan fizzled, Nashville school says this area "would be a great location"

Vanderbilt University Chancellor Daniel Diermeier was back in Palm Beach County last Friday, April 12 to meet with more county government officials and other area leaders about opening a West Palm Beach campus .

Among the meetings was a private lunch with Palm Beach billionaire and real estate developer Jeff Greene , who had been involved in an unsuccessful effort to bring the University of Florida to downtown.

Greene said he and Diermeier discussed the plan to build a Vanderbilt business school and a college for computer science and artificial intelligence in downtown West Palm Beach.

In an exclusive interview with The Palm Beach Post in early April, Diermeier said a West Palm Beach campus of the Nashville private university would capitalize on Palm Beach County's growing reputation as Wall Street South and provide students jobs in finance companies.

More: Vanderbilt University chancellor: Why we want to build a graduate campus in West Palm Beach

A Vanderbilt campus also would "turbocharge" the creation of new businesses established by students, creating an innovation industry, Diermeier said.

"We have been thinking for a while about a potential second campus, and it became clear that South Florida, and West Palm Beach and Palm Beach, would be a great location," Diermeier said.

The campus would be built  on seven acres of government-owned land formerly slated  for the UF campus. It would not include five acres of adjacent land owned by Greene.

Even though Vanderbilt has a $10 billion endowment, people familiar with the Vanderbilt campus plan say its backers want the city and county to donate the government land for free.

In addition to Greene, Diermeier last week also met members of the community, as well as corporate and educational leaders during his latest trip to the county, a university spokesman confirmed on Monday, April 15.

Greene said Diermeier didn't ask him for anything as they lunched at Greene's oceanfront Palm Beach home. The chancellor just made a point of getting to know Greene, one of West Palm Beach's largest real estate players, Greene said.

"I'll do everything I can to make it work," Jeff Greene says of Vanderbilt plan for West Palm Beach

Greene, who has several real estate projects in the works or just completed in central Palm Beach County, said he welcomed Vanderbilt's presence in downtown West Palm Beach.

"It would be a fantastic addition to the city," Greene said. "There are so many smart people moving down here and so many new young families and so many businesses, and all the great schools in the South already are thinking, 'We should be spreading our wings a little bit.' "

Greene also said West Palm Beach should not miss out on another opportunity to bring a major university campus to downtown.

"I'll do everything I can to make it work," Greene said.

Earlier plans for a UF campus in downtown West Palm Beach fizzled out

In 2021, UF and local government officials announced plans for a UF campus in West Palm Beach that would offer business, finance and artificial intelligence programs.

The 12-acre campus would have been built on land owned by the city, county and Greene.

But the UF campus plan was iced last year following disagreements about the terms of Greene's land donation to the university, including a dispute about naming rights to the campus.

Ben Sasse, UF's new president, then quietly let the plan die last May.

More: Much-touted UF campus plan for downtown West Palm Beach dies, leaving huge disappointment

More: Is University of Florida's grad school campus in West Palm Beach in peril?

Diermeier's recent visit followed a trip to Palm Beach County on April 1, where Diermeier met with county commissioners and attended a fundraiser for the campus plan on Palm Beach.

The event was held at the Palm Beach home of Related Cos. Chairman Stephen Ross and raised $100 million from alumni and business leaders. Private money raised for the venture would go toward the university's endowment, which generates income that finances the university's programs.

Gov. Ron DeSantis also attended the event.

A DeSantis spokesman did not respond to a request for an interview with DeSantis regarding the state's interest in the plan or whether the state would commit taxpayer money to the Vanderbilt campus.

Vanderbilt counts many wealthy alumni and business leaders among its supporters. Vanderbilt has more than 1,100 alumni in Palm Beach County and in the northern part of neighboring Broward County, according to the university.

The Vanderbilt West Palm Beach campus would provide graduate degrees geared to the finance, data and technology industries and enroll roughly 1,000 students, he said.

The seven-acre Vanderbilt campus is being pitched for two acres owned by the City of West Palm Beach and five adjacent acres owned by Palm Beach County. The properties are along South Tamarind Avenue, from Datura Street south to Fern Street, in a section of the city dubbed Government Hill.

Jeff Greene says his One West Palm twin towers will wrap up this year

Greene said a Vanderbilt campus would not only serve students and help launch entrepreneurs in business and finance, but it also would boost demand for office and apartment space in the county.

This is important, he said, because demand for both is falling off after a massive building surge during the past few years.

Greene is putting the final touches on Brandon Estates, a 198-unit apartment complex at 1710 N. Congress Ave. in suburban West Palm Beach.

Greene already built Cameron Estates, a 548-unit apartment complex off Palm Beach Lakes Boulevard in West Palm Beach. Greene also owns condominium units in several downtown complexes that he rents out as apartments.

More residences are slated to open at Greene's One West Palm, a twin-tower complex featuring rental apartments, office space and a hotel.

The 30-story One West Palm, at 550 N. Quadrille Blvd., has been under slow construction for five years. Greene halted construction for a while during the pandemic when work-from-home became the norm.

The towers remained vacant concrete skeletons until December 2020, when  construction revved back up  amid a surprising pandemic-inspired migration of companies to Florida from crowded, cold climes in the Northeast. At that time, Greene predicted the towers would be open by summer 2022.

But completion was delayed again by several factors, including a window redesign.

Greene now says he expects both towers will be completed by year-end. The construction cranes are gone, and interior work is commencing on the towers, he said.

Greene said the timing for new office space isn't ideal given a slowdown in office leasing, as well as the "glut" of office space from new and existing office buildings .

However, a Vanderbilt campus would significantly boost demand for offices and residences. "We need economic growth in this community in every category," Greene said. "We could use a major push like a Vanderbilt."

Vanderbilt: A "Southern Ivy" university

While not an Ivy League school, Vanderbilt is known as a “Southern Ivy” because of its selective admissions process and strong academic reputation.

Vanderbilt is ranked No. 18 among national universities, and its business school, the Owen School of Management, is No. 27 in the nation in a three-way tie with the University of Texas-Dallas and the University of Rochester, according to U.S. News & World Report.

Current enrollment at Vanderbilt's business school in Nashville is 617 students. The business school has 97 faculty members, and the annual cost of attendance is about $103,000.

The West Palm Beach campus plan, in the works for about a year, is being advanced by Ross'  Related Cos. , a global real estate developer, and the  Frisbie Group of Palm Beach.

Like Greene, both companies want to fill new offices and residences they are building in  West Palm Beach.

Alexandra Clough is a business writer and columnist at  The Palm Beach Post . You can reach her at  [email protected] . Twitter:  @acloughpbp .  Help support our journalism. Subscribe today.

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This couple bought a rundown abandoned house for $1.5 million and plan to make it their forever home: Take a look inside

In October 2023, Nick Volkov came across a unique listing for a house and just knew he had to show it to his girlfriend, Jenna Phipps , a 28-year-old content creator.

Though the listing included pictures of the exterior only and described the house as a "tear-down," the 27-year-old program manager tells CNBC Make It that what stood out the most about the property in Vancouver, British Columbia, Canada, was that it was undervalued, had a water view, and wasn't a standard modern house.

Phipps says she fell in love with the property and knew they had to go see it immediately, but "when we finally got to see the house [in person], we saw it was a lot worse."

"There was a reason they didn't show photos of the inside," she says.

The property in question is a 2,757-square-foot single-family home built in 1961. It has three bedrooms, 2.5 bathrooms, a pool, and 0.30 acres of land.

The house was so dilapidated that the realtor had the couple sign a waiver before entering.

"You can really see this property had not been cared for at all," Volkov says. "Once you got inside, there was a really musky smell with the old furniture and old things there."

Still, they were able to find some beauty in the space: "The architecture showed through all of that. You could see what it was in its former days," Volkov says. "Even with it half falling apart, it was still really pretty."

One of the most significant issues the couple encountered immediately was that the roof needed to be replaced. Other issues included completely overgrown landscaping, mold throughout, and high levels of moisture from all the water that had come into the house over the years.

Despite all the flaws, Phipps knew she and Volkov had found their forever home.

"I think the biggest thing that stood out to me was the architecture of the home because mid-century modern homes are so rare for the area," she said. "We looked past how bad it was because we knew that we could really transform it ourselves. This house has so much potential and we felt very special to be the people to see that."

The couple decided to make an offer.

The house was valued at $3.4 million CAD or $2.5 million USD with an asking price of $2.6 million CAD or $1.9 million USD.

Because of the property's condition, Volkov and Phipps could not get a traditional mortgage and had to opt for a private two-year loan instead.

The couple met with the seller and shared their plans to restore the home instead of tearing it down. The seller then agreed to their bid of $2.1 million CAD or $1,525,923 USD.

The median list price of homes in Vancouver, BC, overall was $1,578,540 in March 2024, according to Houseful , a subsidiary of the Royal Bank of Canada.

The couple split the 20% down payment evenly.

"People were very shocked at how we were able to get that price, especially in that area," Phipps says. "We kind of bought the worst thing in a great neighborhood."

Phipps and Volkov agree that, for them, landing in their desired neighborhood means they got a pretty good deal.

The couple plans to use the two years they have to repay their private loan to fix up the house as much as possible and then refinance to get a traditional mortgage.

When the two took possession of the home, it had been empty for four years, the couple said. A family built it in the 1960s, and then it was passed down to two siblings, a son and a daughter. The son, an architect, lived in the home for many years, and then, when he passed away, the house went to his sister, who then sold it to Phipps and Volkov.

Because the seller lived several hours away, she would rarely visit, which is why the property was so deteriorated, the couple says.

"It was in a state that probably no one should have lived there," Phipps says. "She would come to visit and take things out, but no one lived there for years."

After closing on the house, the real work began

The couple closed in January 2024 and started the clearing-out process immediately. The first step was to put tarps all over the roof to ensure no more water or moisture entered the house.

"It was a very eventful first weekend of just trying to maintain what the house looked liked and not letting it get worse," Phipps says.

While cleaning out the home, they found some of the original furniture, old photos of what the house looked like before, and a record player that was hooked up to speakers all over the house. Volkov found that discovery pretty exciting.

"Imagine having a house back in the day and you could play music everywhere in it from a record player," he says. "The record player was still there when we bought the house, so that was really cool."

There was a lot of mold and potentially hazardous areas in the house, that the couple tackled themselves. The two bought full-face gas masks and got to work. It was also a way for them to save money.

After several months of cleaning, the two enlisted their parents' help to get it down to the studs. Now, the couple is working with an engineer to get a new roof on before winter starts this year and has shifted to clearing out the house's grounds.

"The property was very overgrown, and unfortunately, a lot of the greenery will have to be taken out," Phipps says.

The couple plans to keep as much of the house's original design as possible. They are still in the process of getting the permits they need to start construction.

Volkov and Phipps plan to keep the mid-century modern look and feel for the exterior with modern appliances and features throughout the house inside.

To date, the couple estimates they have invested $10,000 CAD and hopes to keep the full renovation under $300,000 CAD.

"Over the next two years, we're putting everything we have into the home and living the frugal lifestyle," Phipps says.

They plan to do much of the work themselves and will split the costs, with Volkov paying off the private loan and Phipps paying for all the renovation expenses.

"We decided to do that to keep the flow going and help keep costs down," Volkov says. "The really fun part of it all is that you get to witness every stage of the construction."

Conversions to USD were done on April 19, 2024, using OANDA conversion rates of 1 CAD to 0.73 USD. All amounts are rounded to the nearest dollar.

Want to make extra money outside of your day job?  Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. Register today and save 50% with discount code EARLYBIRD.

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The Supreme Court Takes Up Homelessness

Can cities make it illegal to live on the streets.

This transcript was created using speech recognition software. While it has been reviewed by human transcribers, it may contain errors. Please review the episode audio before quoting from this transcript and email [email protected] with any questions.

From “The New York Times,” I’m Katrin Bennhold. This is “The Daily.”

This morning, we’re taking a much closer look at homelessness in the United States as it reaches a level not seen in the modern era. California —

As the number of homeless people has surged in the US —

More than 653,000, a 12 percent population increase since last year.

The debate over homeless encampments across the country has intensified.

It is not humane to let people live on our streets in tents, use drugs. We are not standing for it anymore.

People have had it. They’re fed up. I’m fed up. People want to see these tents and encampments removed in a compassionate, thoughtful way. And we agree.

With public officials saying they need more tools to address the crisis.

We move from block to block. And every block they say, can’t be here, can’t be here, can’t be here. I don’t know where we’re supposed to go, you know?

And homeless people and their advocates saying those tools are intended to unfairly punish them.

They come and they sweep and they take everything from me, and I can’t get out of the hole I’m in because they keep putting me back in square one.

That debate is now reaching the Supreme Court, which is about to hear arguments in the most significant case on homelessness in decades, about whether cities can make it illegal to be homeless. My colleague Abbie VanSickle on the backstory of that case and its far-reaching implications for cities across the US.

[THEME MUSIC]

It’s Friday, April 19.

So Abbie, you’ve been reporting on this case that has been making waves, Grants Pass versus Johnson, which the Supreme Court is taking up next week. What’s this case about?

So this case is about a small town in Oregon where three homeless people sued the city after they received tickets for sleeping and camping outside. And this case is the latest case that shows this growing tension, especially in states in the West, between people who are homeless and cities who are trying to figure out what to do about this. These cities have seen a sharp increase in homeless encampments in public spaces, especially with people on sidewalks and in parks. And they’ve raised questions about public drug use and other safety issues in these spaces.

And so the question before the justices is really how far a city can go to police homelessness. Can city officials and police use local laws to ban people from laying down outside and sleeping in a public space? Can a city essentially make it illegal to be homeless?

So three homeless people sued the city of Grants Pass, saying it’s not illegal to be homeless, and therefore it’s not illegal to sleep in a public space.

Yes, that’s right. And they weren’t the first people to make this argument. The issue actually started years ago with a case about 500 miles to the East, in Boise, Idaho. And in that case, which is called Martin v. Boise, this man, Robert Martin, who is homeless in Boise, he was charged with a misdemeanor for sleeping in some bushes. And the city of Boise had laws on the books to prohibit public camping.

And Robert Martin and a group of other people who are homeless in the city, they sued the city. And they claimed that the city’s laws violated the Eighth Amendment’s prohibition on cruel and unusual punishment.

And what makes it cruel and unusual?

So their argument was that the city did not have enough sufficient shelter beds for everyone who was homeless in the city. And so they were forced to sleep outside. They said, we have no place to go and that an essential human need is to sleep and we want to be able to lay down on the sidewalk or in an alley or someplace to rest and that their local laws were a violation of Robert Martin and the others’ constitutional rights, that the city is violating the Eighth Amendment by criminalizing the human need to sleep.

And the courts who heard the case agreed with that argument. The courts ruled that the city had violated the Constitution and that the city could not punish people for being involuntarily homeless. And what that meant, the court laid out, is that someone is involuntarily homeless if a city does not have enough adequate shelter beds for the number of people who are homeless in the city.

It does seem like a very important distinction. They’re saying, basically, if you have nowhere else to go, you can’t be punished for sleeping on the street.

Right. That’s what the court was saying in the Martin v. Boise case. And the city of Boise then appealed the case. They asked the Supreme Court to step in and take it on. But the Supreme Court declined to hear the case. So since then, the Martin v. Boise case controls all over the Western parts of the US in what’s called the Ninth Circuit, which includes Oregon where the Grants Pass case originated.

OK. So tell us about Grants Pass, this city at the center of the case and now in front of the Supreme Court. What’s the story there?

Grants Pass is a town in rural Southwestern Oregon. It’s a town of about 38,000 people. It’s a former timber town that now really relies a lot on tourists to go rafting through the river and go wine tasting in the countryside. And it’s a pretty conservative town.

When I did interviews, people talked about having a very strong libertarian streak. And when I talked with people in the town, people said when they were growing up there, it was very rare to see someone who was homeless. It just was not an issue that was talked a lot about in the community. But it did become a big issue about 10 years ago.

People in the community started to get worried about what they saw as an increase in the number of homeless people that they were noticing around town. And it’s unclear whether the problem was growing or whether local officials and residents were worried that it might, whether they were fearing that it might.

But in any case, in 2013, the city council decided to start stepping up enforcement of local ordinances that did things like outlaw camping in public parks or sleeping outside, this series of overlapping local laws that would make it impossible for people to sleep in public spaces in Grants Pass. And at one meeting, one of the former city council members, she said, “the point is to make it uncomfortable enough for them in our city so they will want to move on down the road.”

So it sounds like, at least in Grants Pass, that this is not really about reducing homelessness. It’s about reducing the number of visible homeless people in the town.

Well, I would say that city officials and many local residents would say that the homeless encampments are actually creating real concerns about public safety, that it’s actually creating all kinds of issues for everyone else who lives in Grants Pass. And there are drug issues and mental health issues, and that this is actually bringing a lot of chaos to the city.

OK. So in order to deal with these concerns, you said that they decided to start enforcing these local measures. What does that actually look like on the ground?

So police started handing out tickets in Grants Pass. These were civil tickets, where people would get fines. And if police noticed people doing this enough times, then they could issue them a trespass from a park. And then that would give — for a certain number of days, somebody would be banned from the park. And if police caught them in the park before that time period was up, then the person could face criminal time. They could go to jail.

And homeless people started racking up fines, hundreds of dollars of fines. I talked to a lot of people who were camping in the parks who had racked up these fines over the years. And each one would have multiple tickets they had no way to pay. I talked to people who tried to challenge the tickets, and they had to leave their belongings back in the park. And they would come back to find someone had taken their stuff or their things had been impounded.

So it just seemed to be this cycle that actually was entrenching people more into homelessness. And yet at the same time, none of these people had left Grants Pass.

So they did make it very uncomfortable for homeless people, but it doesn’t seem to be working. People are not leaving.

Right. People are not leaving. And these tickets and fines, it’s something that people have been dealing with for years in Grants Pass. But in 2018, the Martin v. Boise case happens. And not long after that, a group of people in Grants Pass challenged these ordinances, and they used the Boise case to make their argument that just like in Boise, Grants Pass was punishing people for being involuntarily homeless, that this overlapping group of local ordinances in Grants Pass had made it so there is nowhere to put a pillow and blanket on the ground and sleep without being in some kind of violation of a rule. And this group of local homeless people make the argument that everyone in Grants Pass who is homeless is involuntarily homeless.

And you told us earlier that it was basically the lack of available shelter that makes a homeless person involuntarily homeless. So is there a homeless shelter in Grants Pass?

Well, it sort of depends on the standard that you’re using. So there is no public low-barrier shelter that is easy for somebody to just walk in and stay for a night if they need someplace to go. Grants Pass does not have a shelter like that.

There is one shelter in Grants Pass, but it’s a religious shelter, and there are lots of restrictions. I spoke with the head of the shelter who explained the purpose is really to get people back into the workforce. And so they have a 30-day program that’s really designed for that purpose.

And as part of that, people can’t have pets. People are not allowed to smoke. They’re required to attend Christian religious services. And some of the people who I interviewed, who had chronic mental health and physical disabilities, said that they had been turned away or weren’t able to stay there because of the level of needs that they have. And so if you come in with any kind of issue like that, it can be a problem.

That’s a very long list of restrictions. And of course, people are homeless for a lot of very different reasons. It sounds like a lot of these reasons might actually disqualify them from this particular shelter. So when they say they have nowhere else to go, if they’re in Grants Pass, they kind of have a point.

So that’s what the court decided. In 2022, when the courts heard this case, they agreed with the homeless plaintiffs that there’s no low-barrier shelter in Grants Pass and that the religious shelter did not meet the court’s requirements. But the city, who are actually now represented by the same lawyers who argued for Boise, keeps appealing the case. And they appeal up to the Ninth Circuit just as in the Boise case, and the judges there find in favor of the homeless plaintiffs, and they find that Grants Pass’s ordinances are so restrictive that there is no place where someone can lay down and sleep in Grants Pass and that therefore the city has violated the Eighth Amendment and they cannot enforce these ordinances in the way that they have been for years.

So at that point, the court upholds the Boise precedent, and we’re where we were when it all started. But as we know, that’s not the end of the story. Because this case stays in the court system. What happened?

So by this point, the homelessness problem is really exploding throughout the Western part of the US with more visible encampments, and it really becomes a politically divisive issue. And leaders across the political spectrum point to Boise as a root cause of the problem. So when Grants Pass comes along, people saw that case as a way potentially to undo Boise if only they could get it before the Supreme Court.

[MUSIC PLAYING]

We’ll be right back.

Abbie, you just told us that as homeless numbers went up and these homeless encampments really started spreading, it’s no longer just conservatives who want the Supreme Court to revisit the Boise ruling. It’s liberals too.

That’s right. So there’s a really broad group of people who all started pushing for the Supreme Court to take up the Grants Pass case. And they did this by filing briefs to the Supreme Court, laying out their reasoning. And it’s everyone from the liberal governor of California and many progressive liberal cities to some of the most conservative legal groups. And they disagree about their reasoning, but they all are asking the court to clarify how to interpret the Boise decision.

They are saying, essentially, that the Boise decision has been understood in different ways in all different parts of the West and that that is causing confusion and creating all sorts of problems. And they’re blaming that on the Boise case.

It’s interesting, because after everything you told us about these very extreme measures, really, that the city of Grants Pass took against homeless people, it is surprising that these liberal bastions that you’re mentioning are siding with the town in this case.

Just to be clear, they are not saying that they support necessarily the way that Grants Pass or Boise had enforced their laws. But they are saying that the court rulings have tied their hands with this ambiguous decision on how to act.

And what exactly is so ambiguous about the Boise decision? Which if I remember correctly, simply said that if someone is involuntarily homeless, if they’re on the streets because there’s no adequate shelter space available, they can’t be punished for that.

Yeah. So there are a couple of things that are common threads in the cities and the groups that are asking for clarity from the court. And the first thing is that they’re saying, what is adequate shelter? That every homeless person situation is different, so what are cities or places required to provide for people who are homeless? What is the standard that they need to meet?

In order not to sleep on the street.

That’s right. So if the standard is that a city has to have enough beds for everyone who is homeless but certain kinds of shelters or beds wouldn’t qualify, then what are the rules around that? And the second thing is that they’re asking for clarity around what “involuntarily homeless” means. And so in the Boise decision, that meant that someone is involuntarily homeless if there is not enough bed space for them to go to.

But a lot of cities are saying, what about people who don’t want to go into a shelter even if there’s a shelter bed available? If they have a pet or if they are a smoker or if something might prohibit them from going to a shelter, how is the city supposed to weigh that and at what point would they cross a line for the court?

It’s almost a philosophical question. Like, if somebody doesn’t want to be in a shelter, are they still allowed to sleep in a public space?

Yeah. I mean, these are complicated questions that go beyond the Eighth Amendment argument but that a lot of the organizations that have reached out to the court through these friend of the court briefs are asking.

OK. I can see that the unifying element here is that in all these briefs various people from across the spectrum are saying, hello, Supreme Court. We basically need some clarity here. Give us some clarity.

The question that I have is why did the Supreme Court agree to weigh in on Grants Pass after declining to take up Boise?

Well, it’s not possible for us to say for certain because the Supreme Court does not give reasons why it has agreed to hear or to not hear a case. They get thousands of cases a year, and they take up just a few of those, and their deliberations are secret. But we can point to a few things.

One is that the makeup of the court has changed. The court has gained conservative justices in the last few years. This court has not been shy about taking up hot button issues across the spectrum of American society. In this case, the court hasn’t heard a major homelessness case like this.

But I would really point to the sheer number and the range of the people who are petitioning the court to take a look at this case. These are major players in the country who are asking the court for guidance, and the Supreme Court does weigh in on issues of national importance. And the people who are asking for help clearly believe that this is one of those issues.

So let’s start digging into the actual arguments. And maybe let’s start with the city of Grants Pass. What are the central arguments that they’re expected to make before the Supreme Court?

So the city’s arguments turn on this narrow legal issue of whether the Eighth Amendment applies or doesn’t. And they say that it doesn’t. But I actually think that in some ways, that’s not the most helpful way to understanding what Grants Pass is arguing.

What is really at the heart of their argument is that if the court upholds Grants Pass and Boise, that they are tying the hands of Grants Pass and hundreds of other towns and cities to actually act to solve and respond to homelessness. And by that, I mean to solve issues of people camping in the parks but also more broadly of public safety issues, of being able to address problems as they arise in a fluid and flexible way in the varied ways that they’re going to show up in all these different places.

And their argument is if the court accepts the Grants Pass and Boise holdings, that they will be constitutionalizing or freezing in place and limiting all of these governments from acting.

Right. This is essentially the argument being repeated again and again in those briefs that you mentioned earlier, that unless the Supreme Court overturns these decisions, it’s almost impossible for these cities to get the encampments under control.

Yes, that’s right. And they also argue they need to have flexibility in dealing actually with people who are homeless and being able to figure out using a local ordinance to try to convince someone to go to treatment, that they say they need carrots and sticks. They need to be able to use every tool that they can to be able to try to solve this problem.

And how do we make sense of that argument when Grants Pass is clearly not using that many tools to deal with homeless people? For example, it didn’t have shelters, as you mentioned.

So the city’s argument is that this just should not be an Eighth Amendment issue, that this is the wrong way to think about this case, that issues around homelessness and how a city handles it is a policy question. So things like shelter beds or the way that the city is handling their ordinances should really be left up to policymakers and city officials, not to this really broad constitutional argument. And so therefore, the city is likely to focus their argument entirely on this very narrow question.

And how does the other side counter this argument?

The homeless plaintiffs are going to argue that there’s nothing in the lower courts’ decisions that say that cities can’t enforce their laws that, they can’t stop people from littering, that they can’t stop drug use, that they can’t clear encampments if there becomes public safety problems. They’re just saying that a city cannot not provide shelter and then make it illegal for people to lay down and sleep.

So both sides are saying that a city should be able to take action when there’s public disorder as a result of these homeless encampments. But they’re pointing at each other and saying, the way you want to handle homelessness is wrong.

I think everyone in this case agrees that homelessness and the increase in homelessness is bad for everyone. It’s bad for people who are camping in the park. It is bad for the community, that nobody is saying that the current situation is tenable. Everyone is saying there need to be solutions. We need to be able to figure out what to do about homelessness and how to care for people who are homeless.

How do we wrestle with all these problems? It’s just that the way that they think about it couldn’t be further apart.

And what can you tell me about how the Supreme Court is actually expected to rule in this?

There are a number of ways that the justices could decide on this case. They could take a really narrow approach and just focus on Grants Pass and the arguments about those local ordinances. I think that’s somewhat unlikely because they’ve decided to take up this case of national importance.

A ruling in favor of the homeless plaintiffs would mean that they’ve accepted this Eighth Amendment argument, that you cannot criminalize being homeless. And a ruling for the city, every legal expert I’ve talked to has said that would mean an end to Boise and that it would break apart the current state that we’ve been living in for these last several years.

I’m struck by how much this case and our conversation has been about policing homelessness rather than actually addressing the root causes of homelessness. We’re not really talking about, say, the right to shelter or the right to treatment for people who are mentally ill and sleeping on the streets as a result, which is quite a big proportion. And at the end of the day, whatever way the ruling goes, it will be about the visibility of homelessness and not the root causes.

Yeah, I think that’s right. That’s really what’s looming in the background of this case is what impact is it going to have. Will it make things better or worse and for who? And these court cases have really become this talking point for cities and for their leaders, blaming the spike in encampments and the visibility of homelessness on these court decisions. But homelessness, everyone acknowledges, is such a complicated issue.

People have told me in interviews for the story, they’ve blamed increases in homelessness on everything from the pandemic to forest fires to skyrocketing housing costs in the West Coast, and that the role that Boise and now Grants Pass play in this has always been a little hard to pin down. And if the Supreme Court overturns those cases, then we’ll really see whether they were the obstacle that political leaders said that they were. And if these cases fall, it remains to be seen whether cities do try to find all these creative solutions with housing and services to try to help people who are homeless or whether they once again fall back on just sending people to jail.

Abbie, thank you very much.

Thank you so much.

Here’s what else you need to know today. Early on Friday, Israel attacked a military base in Central Iran. The explosion came less than a week after Iran’s attack on Israel last weekend and was part of a cycle of retaliation that has brought the shadow war between the two countries out in the open. The scale and method of Friday’s attack remained unclear, and the initial reaction in both Israel and Iran was to downplay its significance. World leaders have urged both sides to exercise restraint in order to avoid sparking a broader war in the region.

And 12 New Yorkers have been selected to decide Donald Trump’s criminal trial in Manhattan, clearing the way for opening statements to begin as early as Monday. Seven new jurors were added in short order on Thursday afternoon, hours after two others who had already been picked were abruptly excused.

Trump is accused of falsifying business records to cover up a hush money payment made to a porn star during his 2016 presidential campaign. If the jury convicts him, he faces up to four years in prison. Finally —

This is the New York Police Department.

The New York Police Department said it took at least 108 protesters into custody at Columbia University after University officials called the police to respond to a pro-Palestinian demonstration and dismantle a tent encampment.

We’re supporting Palestine. We’re supporting Palestine. 1, 2, 3, 4.

The crackdown prompted more students to vow that demonstrations would continue, expressing outrage at both the roundup of the student protesters and the plight of Palestinians in Gaza.

Free, free Palestine.

Today’s episode was produced by Olivia Natt, Stella Tan, and Eric Krupke with help from Rachelle Bonja. It was edited by Liz Baylen, fact checked by Susan Lee, contains original music by Will Reid Pat McCusker Dan Powell and Diane Wong and was engineered by Chris Wood. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly.

That’s it for “The Daily.” I’m Katrin Bennhold. See you on Monday.

• April 19, 2024   •   30:42 The Supreme Court Takes Up Homelessness
• April 18, 2024   •   30:07 The Opening Days of Trump’s First Criminal Trial
• April 17, 2024   •   24:52 Are ‘Forever Chemicals’ a Forever Problem?
• April 16, 2024   •   29:29 A.I.’s Original Sin
• April 15, 2024   •   24:07 Iran’s Unprecedented Attack on Israel
• April 14, 2024   •   46:17 The Sunday Read: ‘What I Saw Working at The National Enquirer During Donald Trump’s Rise’
• April 12, 2024   •   34:23 How One Family Lost $900,000 in a Timeshare Scam
• April 11, 2024   •   28:39 The Staggering Success of Trump’s Trial Delay Tactics
• April 10, 2024   •   22:49 Trump’s Abortion Dilemma
• April 9, 2024   •   30:48 How Tesla Planted the Seeds for Its Own Potential Downfall
• April 8, 2024   •   30:28 The Eclipse Chaser
• April 7, 2024 The Sunday Read: ‘What Deathbed Visions Teach Us About Living’

Hosted by Katrin Bennhold

Featuring Abbie VanSickle

Produced by Olivia Natt ,  Stella Tan ,  Eric Krupke and Rachelle Bonja

Edited by Liz O. Baylen

Original music by Will Reid ,  Pat McCusker ,  Dan Powell and Diane Wong

Engineered by Chris Wood

Listen and follow The Daily Apple Podcasts | Spotify | Amazon Music

Debates over homeless encampments in the United States have intensified as their number has surged. To tackle the problem, some cities have enforced bans on public camping.

As the Supreme Court prepares to hear arguments about whether such actions are legal, Abbie VanSickle, who covers the court for The Times, discusses the case and its far-reaching implications.

On today’s episode

Abbie VanSickle , a Supreme Court correspondent for The New York Times.

Background reading

A ruling in the case could help determine how states, particularly those in the West, grapple with a rising homelessness crisis .

In a rare alliance, Democrats and Republicans are seeking legal power to clear homeless camps .

There are a lot of ways to listen to The Daily. Here’s how.

We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.

Fact-checking by Susan Lee .

The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Mike Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, John Ketchum, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Dan Farrell, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Summer Thomad, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg.

Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Renan Borelli, Maddy Masiello, Isabella Anderson and Nina Lassam.

Katrin Bennhold is the Berlin bureau chief. A former Nieman fellow at Harvard University, she previously reported from London and Paris, covering a range of topics from the rise of populism to gender. More about Katrin Bennhold

Abbie VanSickle covers the United States Supreme Court for The Times. She is a lawyer and has an extensive background in investigative reporting. More about Abbie VanSickle

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Biden is canceling $7.4 billion in student debt for 277,000 borrowers. Here's who is eligible.

By Aimee Picchi

Edited By Alain Sherter

Updated on: April 12, 2024 / 3:29 PM EDT / CBS News

The Biden administration on Friday said it's canceling $7.4 billion in student debt for 277,000 borrowers, with the recipients scheduled to receive emails today to alert them to their loan discharges. 

The latest effort extends the debt relief provider under President Joe Biden after the Supreme Court last year blocked  his administration's plan for broad-based student loan forgiveness. With the latest batch of loan cancellations, the White House said it has forgiven about $153 billion in debt for 4.3 million student borrowers. 

Biden, who had made student loan relief a major campaign pledge, is tackling an issue that affects about 43 million Americans with a combined  $1.7 trillion in student debt. It's a burden that some borrowers and their advocates say has harmed their ability to save for a home or achieve financial milestones, an issue that was echoed by Education Secretary Miguel Cardona in a conference call with reporters. 

"I talked to a teacher in New York this week who took out a loan for $30,000," Cardona said Friday, "and after over a decade of paying and being a teacher the debt was $60,000, and she was saying that the interest was so high that the payments that she was making wasn't even touching her principal."

He added, "We are fixing a broken system. We're relentless and taking steps to transform a broken system into one that works people across the country."

Here's what to know about who is eligible for the latest round of forgiveness.

Who qualifies for the student loan forgiveness?

Three groups of people qualify under the latest round of debt relief, the White House said. 

• $3.6 billion for 206,800 borrowers enrolled in the SAVE plan.

About $3.6 billion will be forgiven for nearly 207,000 borrowers enrolled in the Saving on a Valuable Education (SAVE) plan, an income-driven repayment program, or IDR, that the Biden administration created last year. 

The White House said borrowers who are getting their debt discharged under SAVE had taken out smaller loans for their college studies. The plan allows people to receive forgiveness after they made at least 10 years of payments if they originally took out $12,000 or less in loans to pay for college; borrowers with larger loans are eligible after 20 or 25 years of repayment, depending on what types of loans they have. 

 "You sacrifice and you've saved for a decade or more to make your student loan payments, and you originally borrowed $12,000 or less, you're going to see relief," Cardona told reporters. "An overwhelming number of those who qualify for SAVE were eligible for Pell grants and come from low- and middle-income communities."

• $3.5 billion for 65,700 borrowers in income-repayment plans.

These borrowers will receive forgiveness through "administrative adjustments" to repayment plans where loan servicers had made it tougher for some borrowers to qualify for relief.  

"These are people who paid for a long time but were being deprived of relief because of administrative and servicing failures," Cardona said. "These people met the contract of their loan" and will receive forgiveness.

• $300 million for 4,600 borrowers through Public Service Loan Forgiveness (PSLF).  

The PSLF program is designed to help public servants like teachers and government employees achieve debt forgiveness after 10 years of repayment. It's a program that started in 2007 but had been plagued with complex rules that effectively hampered people from getting their debt discharged, with only 7,000 receiving loan forgiveness prior to the Biden administration. 

With the latest round of discharges, the Biden administration has forgiven $62.8 billion in loans for 876,000 borrowers through PSLF. 

Are there legal challenges to Biden's debt forgiveness plans?

In two separate lawsuits, Republican attorneys general in 18 states are pushing to have the SAVE plan tossed and to halt any further student debt cancellation. They say the SAVE plan oversteps Biden's authority and makes it harder for states to recruit employees. They also contend the plan undermines a separate cancellation program that encourages careers in public service.

It's unclear what the suits could mean for loans that have already been canceled. A court document filed by Kansas' attorney general says it's "unrealistic to think that any loan forgiveness that occurs during this litigation will ever be clawed back."

—With reporting by the Associated Press.

• Biden Administration
• Student Loan

Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.

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