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School Business Plan

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High demand and a recurring revenue model make starting a school business a lucrative and rewarding profession.

Anyone can start a new business, but you need a detailed business plan when it comes to raising funding, applying for loans, and scaling it like a pro!

Need help writing a business plan for your school business? You’re at the right place. Our school business plan template will help you get started.

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Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

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How to Write A School Business Plan?

Writing a school business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Educational programs & services:.

Highlight the school services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your business. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of school business you run and the name of it. You may specialize in one of the following school businesses:

  • Public schools
  • Private schools
  • Charter schools
  • Magnet schools
  • Virtual or online schools
  • Boarding schools
  • International schools
  • Religious schools
  • Describe the legal structure of your school, whether it is a sole proprietorship, LLC, partnership, or others.
  • Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established school, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Additionally, If you have received any awards or recognition for excellent work, describe them.

Future Goals

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your school business plan::

  • Conduct market research, industry reports, and surveys to gather data.
  • Provide specific and detailed information whenever possible.
  • Illustrate your points with charts and graphs.
  • Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to students. To write this section should include the following:

Describe your school services:

Mention the school services your business will offer. This list may include services like,

  • Education programs
  • Extracurricular activities
  • Counseling & Guidance
  • Special education services
  • Transportation services
  • Food services
  • Testing and assessments

Describe specialized programs:

Student leadership programs, additional services:.

In short, this section of your school plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your school business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your school business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & software:.

Include the list of equipment and software required for school, such as whiteboards & projectors, student information systems, learning management systems, communication & collaboration tools, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your school business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.


Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your school, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

  • Add a table of contents for the appendix section to help readers easily find specific information or sections.
  • In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
  • Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
  • Include any legal documents such as permits, licenses, and contracts.
  • Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your school business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This sample school business plan will provide an idea for writing a successful school plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our school business plan pdf .

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Frequently asked questions, why do you need a school business plan.

A business plan is an essential tool for anyone looking to start or run a successful school business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your school.

How to get funding for your school business?

There are several ways to get funding for your school business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

  • Bank loan – You may apply for a loan in government or private banks.
  • Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
  • Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
  • Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your school business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your school business plan and outline your vision as you have in your mind.

What is the easiest way to write your school business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any school business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

About the Author

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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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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Starting with your objectives.

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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


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

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Guide Quick-Nav

Introduction to Starting a School


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.

Creating Your School Identity

School Identity

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

Creating Your School Curriculum

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

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.

Introduction to Starting a School

Funding & Finance

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

Creating Your School Identity

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.

School Facilities

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

School Staffing

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

School Policies & Procedures

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

Marketing & Online Presence

School Associations


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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.


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.


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.


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

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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.


  • 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.


  • 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 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).

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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

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How to Start a School

how to start a school

Starting Your Own School

Anyone can start a school. All you need is an idea and the drive to make it happen. But there are a few things you need to know before you get started. In this article, we will outline the steps you need to take, the permits and licenses you need, and how to find funding.

Importantly, a critical step in starting a school is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

14 Steps to Starting a School

Choose the name for your school.

The first step to starting a new school is to choose your school’s business name.

This is a very important choice since your business name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your school:

  • Make sure the name is available . Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
  • Keep it simple . The best names are usually ones that are easy to remember, pronounce and spell.
  • Think about marketing . Come up with a name that reflects the desired brand and/or focus of your school.

Develop Your School Business Plan

One of the most important steps in starting a school is to develop your business plan. The purpose of a business plan is to ensure that you fully understand your market and your strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your school.

Your business plan should include the following sections:

  • Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your school.
  • Company Overview – this section tells the reader about the history of your school and what type of school you operate. For example, are you a private school, religious school, charter school, boarding school, Montessori school, or a type of trade school such as a cosmetology school or welding school? You should also include information about the grade levels of your students.
  • Industry Analysis – here you will document key information about the education industry. Conduct market research and document how big the industry is and what trends are affecting it.
  • Customer Analysis – in this section, you will document who your ideal or target students are and their demographics. For example, how old are they? Where do they live? What do they find important when paying for educational services like the ones you will offer?
  • Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage ({i.e., small class size, new facilities, low tuition fees, unique mission or curriculum, etc.)
  • Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
  • Product : Determine and document what products/services you will offer
  • Prices : Document the prices of your products/services
  • Place : Where will your school be located and how will that location help you increase sales?
  • Promotions : What promotional methods will you use to attract students to your school? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
  • Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing and faculty needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
  • Administrative Team – this section details the background and key qualifications of your school’s administrative team, key staff members and faculty members and their job descriptions.
  • Financial Plan – finally, the financial plan answers questions including the following:
  • What startup costs will you incur?
  • How will your school make money?
  • What are your projected sales and expenses for the next five years?
  • Do you need to raise funding to launch your school?

Choose the Legal Structure for Your School

Next you need to choose a legal structure for your school and register it and your business name with the Secretary of State in each state where you operate your school.

Below are the five most common legal structures:

1) Sole proprietorship

A sole proprietorship is a business entity in which the owner of the school and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a school together. The partners share in the profits and losses of the business.

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a school include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a school is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Finish Your Business Plan Today!

Secure startup funding for your school (if needed).

In developing your business plan, you might have determined that you need to raise funding to launch your new school.

Secure a Location for Your School

Having the right space can be important for your school, particularly if you’d like to meet clients there.

To find the right physical space, consider:

  • Driving around to find the right areas while looking for “for lease” signs
  • Contacting a commercial real estate agent
  • Doing commercial real estate searches online
  • Telling others about your needs and seeing if someone in your network has a connection that can help you find the right space

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Register Your School with the IRS

Next, you need to register your school with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Open a Business Bank Account

It is important to establish a bank account in your school’s name. This process is fairly simple and involves the following steps:

  • Identify and contact the bank you want to use
  • Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
  • Complete the bank’s application form and provide all relevant information
  • Meet with a banker to discuss your school’s needs and establish a relationship with them

Get a Business Credit Card

You should get a business credit card for your school to help you separate personal and school-related expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your school. This includes the name of your school, the address of your school, and the type of school you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Get the Required Business Licenses and Permits

Every state, county and city has different business license and permit requirements.

Nearly all states, counties and/or cities have license requirements including:

  • General Business License : getting your Articles of Incorporation as discussed above
  • Sales Tax License or Tax-Exempt Status : for selling products and/or taxable services or to establish if you are a nonprofit organization
  • Zoning Approval : typically at the city or county level, this provides authorization for construction or use of a school building or land for a particular purpose
  • Food Service, Processing and/or Warehouse Licensing : to ensure safe food preparation
  • Health Facility Licensing & Certification : to ensure safe rendering of healthcare services
  • Fire Department Approval : a process by which the local fire department reviews and approves the installation of a fire alarm system.

Get Business Insurance for Your School

Other business insurance policies that you should consider for your school include:

  • General liability insurance : This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
  • Commercial auto insurance : If a vehicle is used in your business, this type of insurance will cover if a vehicle is damaged or stolen.
  • Workers’ compensation insurance : If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
  • Commercial property insurance : This covers damage to your property caused by fire, theft, or vandalism.
  • Business interruption insurance : This covers lost income and expenses if your business is forced to close due to a covered event.
  • Professional liability insurance : This protects your school against claims of professional negligence.

Buy or Lease the Right School Equipment

The equipment and tools you need will depend on the type of school you start. In general, you will need to buy or lease:

  • Classroom furniture and equipment, such as desks, chairs, measuring tools and other items that are necessary for your students
  • Lab instruments and equipment, such as microscopes, telescopes, beakers and other supplies that are required to perform experiments in science classes
  • Teaching aids for your elementary school teachers
  • Office equipment, including computers, printers and other tools that are useful for administration
  • Laptop or desktop computers for your students to use in the classroom

Develop Your School Marketing Materials

Marketing materials will be required to attract and retain students to your school.

The key marketing materials you will need are as follows:

  • Logo : Spend some time developing a good logo for your school. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
  • Website : Likewise, a professional school website provides potential students with information about the products and/or services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how students and families perceive your school.
  • Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help students and others find and interact with your school.

Purchase and Setup the Software Needed to Run Your School

Most schools need accounting software and student information systems to manage and track their student enrollment, grades, and schedules.

For accounting, you will need software that can generate invoices and track inventory and expenses. Your software should also allow you to create purchase orders and track vendor discounts. While there are many different software options available, some of the most popular programs for accounting include QuickBooks and Xero.

Most schools require their teachers to use a student information system (SIS). An SIS is a centralized database that manages class rosters, attendance records, grades, and more.

The right SIS will make your job as a school administrator easier, improve the efficiency of record keeping and reporting, and provide valuable insights into your students’ learning experiences.

Open for Learning

How much does it cost to start a school.

In general, the costs for starting a new school can range from $200,000 to $1,000,000 depending on the type of school you are starting.

The cost of starting a school will generally include:

  • Inventory and equipment rentals for traditional lab-based classes
  • Curriculum design and books
  • Marketing expenses
  • Licenses and permits
  • Business insurance
  • Administrative overhead (salaries for your administration team, staff and faculty, computers, software licenses)

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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Business Plan Template for Schools

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Creating a solid business plan is essential for schools looking to make a positive impact on education. With ClickUp's Business Plan Template for Schools, you can streamline the process of outlining your objectives, strategies, and financial projections.

This template empowers school administrators and educational institutions to:

  • Secure funding and attract stakeholders with a clear and compelling plan
  • Effectively manage resources and budgets to ensure sustainable growth
  • Set measurable goals and track progress towards academic excellence

Whether you're a small private school or a large educational institution, ClickUp's Business Plan Template for Schools will help you pave the way for success. Get started today and transform your vision into a reality!

Business Plan Template for Schools Benefits

A business plan template for schools offers numerous benefits for administrators and educational institutions, including:

  • Clear and concise communication of the school's mission, goals, and strategies to potential investors, stakeholders, and partners
  • A roadmap for financial planning and budgeting, ensuring that resources are allocated effectively and efficiently
  • A comprehensive analysis of the market and competition, enabling schools to identify unique selling points and develop strategies for growth
  • A framework for evaluating and measuring the school's performance and progress towards its objectives
  • A tool for attracting funding and support from investors, donors, and government agencies

Main Elements of Schools Business Plan Template

ClickUp's Business Plan Template for Schools is the perfect tool for school administrators and educational institutions to effectively manage and grow their school. Here are the main elements of this template:

  • Custom Statuses: Keep track of the progress of your business plan with four different statuses: Complete, In Progress, Needs Revision, and To Do.
  • Custom Fields: Utilize three custom fields, including Reference, Approved, and Section, to add specific information and categorize different sections of your business plan.
  • Custom Views: Access five different views to visualize your business plan from various perspectives, such as the Topics view to focus on specific topics, the Status view to track the progress of each section, the Timeline view to set deadlines and milestones, the Business Plan view to see the overall structure, and the Getting Started Guide view to help you navigate the template.

With ClickUp's Business Plan Template for Schools, you can streamline the process of creating, managing, and presenting your school's business plan.

How To Use Business Plan Template for Schools

If you're a school administrator or educator looking to create a comprehensive business plan for your institution, follow these steps to make the process easier:

1. Define your vision and mission

Before you start writing your business plan, it's important to establish a clear vision and mission for your school. What are your long-term goals and aspirations? What do you hope to achieve? This will serve as the foundation for your entire plan.

Use a Doc in ClickUp to outline and articulate your school's vision and mission statements.

2. Assess your current situation

Take a close look at your school's current strengths, weaknesses, opportunities, and threats. Evaluate your academic programs, facilities, student enrollment, financial resources, and any other relevant factors. This analysis will help you identify areas for improvement and determine the direction your school should take.

Create tasks in ClickUp to conduct a SWOT analysis and document your findings.

3. Set goals and objectives

Based on your vision, mission, and SWOT analysis, establish clear and measurable goals for your school. These goals should be aligned with your overall vision and address any weaknesses or opportunities you identified. Additionally, set specific objectives that outline the steps you need to take to achieve those goals.

Use Goals in ClickUp to set and track your school's objectives and key results (OKRs).

4. Develop strategies and action plans

Once you have your goals and objectives in place, it's time to develop strategies and action plans to achieve them. Determine the specific actions you need to take, the resources required, and the timeline for implementation. Consider areas such as curriculum development, staff training, marketing and enrollment, financial management, and infrastructure improvements.

Use tasks and subtasks in ClickUp to break down each action plan into manageable steps and assign responsibilities to team members.

By following these steps and utilizing the Business Plan Template in ClickUp, you can create a comprehensive and effective plan for your school's success. Remember to regularly review and update your plan as needed to ensure it remains relevant and aligned with your school's evolving needs.

Get Started with ClickUp’s Business Plan Template for Schools

School administrators and educational institutions can use the ClickUp Business Plan Template for Schools to effectively outline their objectives, strategies, and financial projections.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive business plan:

  • Use the Topics View to organize different sections and topics of your business plan
  • The Status View will help you track the progress of each section, with statuses such as Complete, In Progress, Needs Revision, and To Do
  • The Timeline View will allow you to visually plan and schedule the tasks and milestones of your business plan
  • The Business Plan View provides a holistic overview of your entire plan, allowing you to see the big picture
  • The Getting Started Guide View offers step-by-step instructions and guidance on how to use the template effectively
  • Utilize the custom fields, such as Reference, Approved, and Section, to add additional information and categorize your business plan
  • Update statuses and custom fields as you work through each section to keep stakeholders informed of progress
  • Monitor and analyze your business plan to ensure it aligns with your school's goals and objectives
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How to Start a Private School PDF; Private School Business Plan Sample

Starting a School Business

How to Start a School Business - Private School Business Plan Sample PDF

Are you considering starting a School and are in need of a private school business plan? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

Don’t Start a New School Business Unless You Watch This Video First!

Checklist for Starting a Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

Here’s a Valuable Free Gift for You This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your business. Click Here! To get your free business plan template

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

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That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate Printing Business. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a consulting firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of. You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Printing Business' book:

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

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Management Skills Video: How to Become a Great Manager and Leader

Learn how to improve your leadership skills and become a better manager and leader. Here's how to be the boss people want to give 200 percent for. In the following video you'll discover 120 powerful tips and strategies to motivate and inspire your people to bring out the best in them.

For more insightful videos visit our Small Business and Management Skills YouTube Chanel .

Here're other free books in the "how to start a business" series that may interest you:

Here's a Sample 'Executive Summary' for a School Business plan :

COMPANY NAME will provide private school services in quantitative courses, starting the first school in the Atlanta, Georgia area. Focused primarily on students in grades K-6, classes are available in courses including: history, science, geography and mathematics in addition to multiple languages, religions and philosophy COMPANY NAME will focus primarily on Eastern Indian, Asian and European based language and philosophy to start.  This method will be focused on to ensure that students can study their native language and learn native customs from where they or their families come from.  Teaching sessions focus on helping students grasp the concepts they will need to know to perform well in their class, as well as developing study strategies to effectively prepare for exams in their class. A long-term focus of empowering students is favored over a short-term problem-solving strategy. High tuition, schools claim, is used to pay higher salaries for the best teachers and also used to provide enriched learning environments, including a low student to teacher ratio, small class sizes and services, such as libraries , science laboratories and computers . Service Summary The intention is to create a student who is an international citizen who is academically capable, gain successful admission to Ivy League schools and to the best international universities; however while at the same time developing a confidence gained from knowing their family heritage, roots, history, culture, religion and languages. Each student will be having a sense of pride in being an American and also in being of Indian origin harmoniously.  COMPANY NAME projects that 50% of students will be Asian Indian decent and 50% of students will be Americans seeking to get the best education available in the United States. COMPANY NAME is planning to become an International Baccalaureate World School.  By receiving this support from a worldwide education organization, the school will be on the roster of offering courses transferable and also recognized around the world. Market Analysis Summary While there are cultural and language classes that children of Indian origin can attend outside of the regular school curriculum, there is no comprehensive school, which offers an excellent education along with meeting their cultural needs anywhere in the USA. Vision COMPANY NAME vision is to provide world-class education for its students at playschool, kindergarten, primary school levels. The aim of this educational institute is the quest for truth; blending the methods of learning of the East and West COMPANY NAME seeks to help bring to the United States the highest education possible to help children be able to compete with the world, as the American education standards and results continue to decline.

  • American students rank 25th in math and 21st in science compared to students in 30 industrialized countries.
  • America’s top math students rank 25th out of 30 countries when compared with top students elsewhere in the world.
  • By the end of 8th grade, U.S. students are two years behind in the math being studied by peers in other countries.
  • Sixty eight percent of 8th graders can’t read at their grade level, and most will never catch up.

Resource: http://www.bls.gov It will be a school for a diverse student body with a global faculty and an international curriculum. The Foundation believes its particular location in the USA will give the community of learners an incredible opportunity to examine change, explore the interconnectedness of issues and develop a global perspective. COMPANY NAME will offer an educational experience that is truly international and still Indian at heart.   The Foundation will invite the Council of International Schools (CIS) and other prominent educationists to be its' consultants. Together with experienced consultants' input, COMPANY NAME shall attract an inspiring faculty and student body.

1.1 Objectives

  • Generate five informal contracts/referrals with school professors from accredited private schools located in India.
  • Increase revenue steadily from 2011 to 2012.
  • Offer a premiere and unique educational hub where children can learn several languages, receive higher education and expand life's horizons from an early age.

COMPANY NAME's vision is to provide world-class education for students at playschool, kindergarten, primary school levels. The aim of this educational institute is the quest for truth, blending the methods of learning of the East and West. It will be a school for a diverse student body, with a global faculty and an international curriculum COMPANY NAME believe that their particular location in the USA will give the community of learners an incredible opportunity to examine change, explore the interconnectedness of issues and develop a global perspective.

1.2 Mission

COMPANY NAME exists to help students. The Company takes a unique and innovative approach to teaching that helps students connect with the subject matter they need to master in a vast variety of subjects, religions and arts. Through personalized and focused teaching processes, the students develop the tools they need for ongoing success in their fields of study, which include international languages as well. Success depends on direct attention to the needs of the Company's clients and truly helping them achieve- COMPANY NAME won't succeed unless their clients succeed.

COMPANY NAME is a sole proprietorship. The company will be owned and operated by COMPANY NAME which is 100% owned by OWNER’S NAME, a C Corporation.  The foundation will be co-owned by CO-OWNER’S NAME and another general partner.

2.2 Start-up Summary

The company founders will hire an education consulting and management firm to handle day-to-day operations of the business and will work collaboratively to ensure that this business venture is a success.  COMPANY NAME will be seeking to attain start-up funds from a combination of investment capital and grant funding sources.  Surplus revenue from fundraising is detailed in the Sales Forecast table later in this plan. The following table and chart show the start-up costs for COMPANY NAME.

Table: Start-up

3.0 Services

The school will offer a unique and philosophical approach to education to provide for intellectual, emotional and spiritual development of every student. The school aims to provide an environment conducive to students to discover and nurture the best in their own nature. The school will accept and care for students from all the major faiths, as well as for those with no particular religious affiliation.  The intention is to create a student who is an international citizen who is academically capable, gain successful admission to Ivy League schools and to the best international universities; however while at the same time developing a confidence gained from knowing their family heritage, roots, history, culture, religion and languages. Each student will be having a sense of pride in being an American and also in being of Indian origin harmoniously. COMPANY NAME will also be providing extensive extra-curricular activities for students such as providing dance, art, culture and language courses so that students can attain and utilize the tools and education all in one place.  This will be especially appealing to parents as this will improve not only the child’s education but by having all available in one location, it will also improve quality of life for families. COMPANY NAME has future plans for utilizing the 30 acre plot of land and real estate that The Company is trying to acquire by installing a soccer field, a baseball field and a teacher/student vegetable and herb garden for education purposes.  In addition, the auditorium and smaller classroom will be rented out to increase the schools revenue. Becoming A Better Leader At The Workplace Leadership can be difficult to quantify, despite the fact that most people desperately wish to understand what it takes to be a strong leader. To really get a handle on the concept, it pays to spend some time researching and studying. The guidance below is intended to help any burgeoning leader do precisely that. When working to improve in the area of leadership, it is vital that you develop competency. People need to trust that you know what you are doing in order to feel confident in your leadership ability. Instill confidence in those who follow you by finding a mentor to help you become truly proficient in what you do. If you are rolling out a new business process, train your employees effectively. That new business process might look all shiny on paper, but if your subordinates receive insufficient, or worse, no training, it will inevitably cost you money down the road. There are ways to make training relatively painless, so do your research. Don't make the mistake of ordering people around. That is not true leadership. The key to true leadership is to inspire those around you. You need to help them find their own voices, so that they can go on to lead others. The entire journey they take with you is about their ability to know themselves better. If you have an employee that goes above and beyond the call of duty, do not hesitate to give them extra praise and rewards. Even though it may seem like you are playing favorites, you are giving them what they deserve. be open with other employees about it so they are aware of what rewards come with hard work. Know your competition just as well as you know your own company. Business isn't just about what's happening between the walls in your space. You need to make decisions based off competitive movement. If you can't make decisions because you don't know the competition, then expect your employees to see it as a weakness in leadership. Conquer your fear. Fear can be a terrible thing for you to experience, especially if you're a leader. Instead, start paying attention to what the fear is telling you. Learn to process it in a way that is healthy and in a way that urges you to move beyond the fear to something more. Be open to new ideas, perspectives, and ways of doing things. Many companies want to constantly repeat something that has proven successful for them. There is little wrong with that, but inadvertent leaders try putting too much effort into one thing that worked. Thoughtful leadership should acknowledges success, while also recognizing that there are ways to improve. Do not push people on your team too hard since this can result in doing the opposite of what you are trying to accomplish. Instead of giving them motivation to do more work, it may make them feel demoralized. In turn, they will lose a lot of respect for you. Do not be afraid to jump in and help. This is much easier if you work on site with your team, but is possible from afar if you are creative. If any person from your team needs help, jump in and give them a hand. You may learn a lot from the experience. One of the best leadership skills to develop is listening to people who work under you. By listening to your employees, you can learn new ways to reach goals. When you see that they have processed your ideas, keep an open mind for their input to maximize your potential for success. You might feel like starting each day or shift with a motivational speech, but this can get old for your crew quickly. As a matter of fact, such tactics are overrated. The biggest impact you make in terms of personnel is who you hire, who gets fired, and who gets assigned to the big projects. Learn how to laugh. Yes, you've got a serious job with a lot of responsibilities, but leadership isn't born out of tension and stress. Sometimes you need to learn how to lighten the mood. Not just for yourself, but for your employees too. If you've hit some rough patches, it's your responsibility as a leader to help your team get out of it. Don't hesitate to recognize people for their accomplishments. It is easy to forget to thank people for what they do, especially in a work environment where everything is moving quickly. Make sure you look for reasons to thank people for their good work, instead of simply chiding them when they make mistakes. This will encourage loyalty, and you will find you have an easier time leading when those you lead are loyal. Be an honest and ethical role model for your employees. Honesty with your employees is the best way to build trust. Make sure your employees understand the ethical expectations you have for them. More than that, always behave in an ethical way yourself. If your employees observe you behaving dishonestly, they will do so as well. Be a good example for your team. Just like the parents of a family, you are who your team looks up to in your organization. Do not talk negatively about the company you work for or your bosses to your team. It sets a horrible example and may come back to haunt you. A good leader turns a mistake into a learning experience. Talking about what didn't go right and being open with the entire team about this incident can help everyone from making that same mistake later. Most people wish to be effective leaders of others, but very few actually succeed in doing so. One of the most effective methods of acquiring true leadership acumen is to learn as much as possible about those who have gone before and the attributes they had in common. The article above can serve as an ongoing resource for anyone wishing to undertake just that sort of study.

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A business plan helps you with a new project, product, service, or system when managing a company. Students, teachers, and administrative members can also improve their education for secondary school, primary school , or other preschool kids. Moreover, you can also launch a new course for your private high school and secondary school subjects like music, art, and any lesson. We understand that the content and research take time, so we provide you with school business plan templates .

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Cps releases schools budget under new funding formula as $391m deficit looms.

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Leigh Giangreco covers government, politics, policy, civic life and the city's power elite for Crain's Chicago Business. Before coming to Crain's in July 2023, Giangreco worked for several years as a freelance reporter whose work has appeared in The Guardian, Politico Magazine, Bloomberg CityLab, The Washington Post and Pew's Stateline. She previously covered the defense industry in Washington, D.C.

CPS Chicago Public Schools

Chicago Public Schools unveiled its fiscal year 2025 schools budget today, the first to do away with enrollment-based budgeting and take on a new need-based formula.

The schools budget represents a portion of the district’s full budget, which CPS will release on June 12 ahead of the June 27 Chicago Board of Education meeting where the board will vote on the budget. Last June, the board approved a $9.4 billion budget for CPS.

This year’s budget process is expected to be particularly fraught, with the expiration of COVID dollars leaving CPS with a $391 million deficit and bargaining sessions with the Chicago Teachers Union still to come. In May, CPS reached a tentative agreement with Service Employees International Union Local 73, which represents school support staff, Chalkbeat reported.

“I am cautiously optimistic that we’ll be able to work collaboratively with the CTU and our principals union to do the same,” CPS CEO Pedro Martinez said during a briefing with reporters today.

CPS’ current deficit does not reflect any impacts from collective bargaining agreements, he added.

“We are working to close the $400 million deficit, and we made a decision to protect our schools, knowing that it would put a lot more pressure on our central office departments,” he said. “I am fairly confident that we're going to be able to get there. We will be releasing our full budget by June 12th, and we will show a balanced budget.”

Beyond the looming deficit and union negotiations, this year’s budget is already a change of pace. In the past, CPS allocated a certain dollar amount per student, a process that critics including Martinez said exacerbated a downward spiral of disinvestment in Chicago neighborhoods that bled their population. The upcoming school year’s budget is the first that will use the new funding formula, which replaces student-based budgeting with a need-based model. The formula guarantees one teacher per 26 students at elementary schools and one teacher per 21 high school students, though that ratio would decline for higher-needs schools, Chalkbeat reported in April .

The model guarantees funding so every school can maintain core positions including an assistant principal and at least one counselor, Martinez told reporters at the briefing. CPS would guarantee elementary schools would receive at least three elective teachers: one dedicated to the arts, one for physical education and a third that the principal would choose, such as a language teacher.

In order to determine the ratio of teachers and discretionary funding, CPS uses an “opportunity index” that takes into account a student body’s racial makeup, socioeconomic status, education and health. For example, Frederick Douglass Academy High School in Austin received an opportunity index score of 49, which created a student-to-teacher ratio of 18-to-1 and $1,725-per-pupil funding, according to CPS budget documents. Meanwhile, Amundsen High School in Lincoln Square received a score of 17, resulting in a 21-to-1 ratio and $1,149 per pupil.

The new formula, which CPS has billed as a mechanism to correct historic inequities within the district, worried some parents who feared it would strip their schools of resources. Martinez told reporters a “handful” of schools with low poverty rates and multiple electives offered would experience tighter budgets. Throughout the new process, Martinez said CPS has asked those schools to make sure they have reasonable class sizes.

“Again, we just have to be responsible to our taxpayers,” he said. “In the meantime, hundreds of schools (that) never had even what I would consider minimal electives . . . that is really what's being addressed in this budget. And so it is those schools that have higher poverty, higher needs. They are definitely getting a lot more resources.”

Meanwhile, Martinez brushed off concerns that a stalled bill in the state Senate seeking to protect selective enrollment schools would have impacted the schools budget.

“If you're a high-poverty school, whether you're a selective enrollment school or a magnet school, frankly, the resources are there as they have higher needs,” he said. “We didn't see any impact from the bill itself because there (are) no plans for my team to do anything different with our selective enrollment or magnet schools. And our goal has always been the same, which is to prioritize our neighborhood schools (that) never had the resources they had to meet the needs of their children, but at the same time protect their strong schools.”

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Western companies, including Avon Products, Air Liquide and Reckitt, have remained in Russia despite saying they planned to leave after the invasion of Ukraine, as bureaucratic obstacles increase and consumer activity rebounds.

The Natura-owned cosmetics brand, the French industrial gas producer and the UK consumer group that produces everything from painkillers to condoms are among hundreds of western groups that have stayed in the country since the full-scale invasion in 2022.

“Many European companies have found themselves really between a rock and a hard place,” said one executive working with western companies in the country. “They said they’d leave. They were presented with a choice of buyers that were unacceptable to them.”

Overall, more than 2,100 multinationals have stayed in Russia since 2022, the Kyiv School of Economics has found, compared with about 1,600 international companies that have either quit the market or scaled back operations.

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Shortly after the 2022 invasion of Ukraine , scores of such groups pledged to scale back their presence in Russia as the west sought to starve the country’s economy and the Kremlin’s war coffers of foreign cash.

But Moscow has gradually raised the cost of corporate departure, imposing a mandatory 50 per cent discount on assets from “unfriendly” countries sold to Russian buyers and a minimum 15 per cent “exit tax”. It has also been increasingly hard to find local buyers acceptable both to the seller and to Moscow and whose involvement does not fall foul of western sanctions.

Air Liquide announced in September 2022 it had signed a memorandum of understanding to sell its Russia business to the team of local managers who had been running it. However, the deal never received Russian government approval, leaving the company in limbo.

A woman walks in front of a Raiffeisen bank branch in Moscow

Some companies no longer feel they are compelled to quit the country. Avon began a sales process for its Russian business and received offers but decided not to accept them.

“For over 135 years, Avon has stood for women wherever they are in the world, regardless of ethnicity, nationality, age or religion,” the company said.

While Reckitt announced in April 2022 that it had “begun a process aimed at transferring ownership of its Russian business”, its new chief executive Kris Licht has taken a more measured approach.

“We continue to look at options but it has become more complex, not less complex,” he told the FT last month. “The initial conversation was, do you stay or go, and businesses paying taxes . . . I think we’re having a bit more of a nuanced conversation.”

Multinationals have been mindful of the travails of western companies such as Carlsberg and Danone, which had their assets seized after announcing plans to leave.

While Danone was eventually able to work out a deal to sell the assets at a steep discount, Carlsberg remains locked in a protracted legal battle with Moscow and one of the brewer’s former top executives is in a Russian prison.

Alexandra Prokopenko, a fellow at Carnegie Russia Eurasia, said that rising wages and a rosier-than-expected economic situation had fuelled a spending boom, making Russia much more appealing for multinationals, particularly in the consumer sector.

Prokopenko said a recent wave of nationalisations that had targeted both foreign groups and local players remained “the major risk to foreign nationals in Russia”, adding: “So if they see this risk as manageable, why don’t they stay?”

PepsiCo announced in March 2022 that it had suspended the sale and production of its flagship beverage in Russia but it continues to operate a dairy business in the country that employs 20,000 people directly and 40,000 agricultural workers indirectly.

“As a food and beverage company, now more than ever we must stay true to the humanitarian aspect of our business. That means we have a responsibility to continue to offer our other products in Russia,” chief executive Ramon Laguarta wrote in an email to employees in September 2022.

Rival Coca-Cola has stopped sending its soft drinks syrups to Russia, but the role has been filled by the drinks giant’s bottler in the region, Coca-Cola Hellenic, in which it holds a 21 per cent stake. In August 2022 the bottler created a standalone Russian company, Multon Partners, whose Russian versions of Coca-Cola brands include Dobry Cola, which has knocked the original Coke off the top spot as the country’s best-seller.

“Dobry Cola is an extension of an existing brand in the market, produced and distributed by Multon Partners. It has no connection to The Coca-Cola Company or its brands,” said the bottler.

Dobry Cola on sale in Russia

Among the more than 2,000 companies that have said they will stay in Russia — which include consumer groups Mondelez, Unilever, Nestlé and Philip Morris — some have become more open about their plans. Mondelez’s chief executive recently told the FT that investors did not “morally care” whether groups left the country.

But there is a lack of clarity about some companies’ claimed divestments. US short seller Hindenburg Research revealed in March that Polish fashion retailer LPP’s goods were still being sold in Russia despite it announcing it had left the market in June 2022 after selling its business to an unidentified Chinese consortium.

While LPP denied wrongdoing, it acknowledged it had been benefiting from sales to “transfer agents” to help fund the cost of the transition, a practice that would not be phased out until 2025.

Austria’s Raiffeisen Bank International has also come under fire after the FT reported that dozens of Russia-based job advertisements it had posted indicated ambitious growth plans in the country, despite its pledge to quit the market.

A second executive working with western companies in Russia said there had been a noticeable change in sentiment.

While companies that left in the initial weeks after the invasion saw a moral imperative to do so, he said, “the current wave is more about, do you really have to leave? Do you want to leave? Some of these companies have built four, five factories over 30 years. They’re not going to sell that for a 90 per cent discount.”

Activist investor and Unilever board member Nelson Peltz told the FT this year he had pressed the consumer goods group, which has explored options for a sale, not to leave.

“If we pull out of Russia, they will take our brands for themselves. I don’t think that’s a good trade,” Peltz said, emphasising that rivals such as P&G and Colgate-Palmolive had not left the country. “Why the hell should we?”

Additional reporting by Sarah White in Paris and Max Seddon in Riga

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Danielle Maynard stands in a green dress outside a brick building.

There’s a Program to Cancel Private Student Debt. Most Don’t Know About It.

A nonprofit group is publicizing the relief program that Navient, a large lender, created for students who attended for-profit schools that misled them.

Danielle Maynard took both federal and private loans to attend the New England Institute of Art. Credit... Simon Simard for The New York Times

Supported by

Stacy Cowley

By Stacy Cowley

  • May 30, 2024

More than a million borrowers who were defrauded by for-profit schools have had billions of dollars in federal student loans eliminated through a government aid program. But people with private loans have generally been excluded from any relief — until recently.

Navient, a large owner of private student loan debt, has created, but not publicized, a program that allows borrowers to apply to have their loans forgiven. Some who succeeded have jubilantly shared their stories in chat groups and other forums.

“I cried, a lot,” said Danielle Maynard, who recently received notice from Navient that nearly $40,000 in private loans she owed for her studies at the New England Institute of Art in Brookline, Mass., would be wiped out.

Navient, based in Wilmington, Del., has not publicized the discharge program that helped Ms. Maynard. Other borrowers have complained on social media about difficulties getting an application form. When asked about the program and the criticisms, a company spokesman said, “Borrowers may contact us at any time, and our advocates can assist.”

So a nonprofit group of lawyers has stepped in to ease the process: On Thursday, the Project on Predatory Student Lending , an advocacy group in Boston, published Navient’s application form and an instruction guide for borrowers with private loans who are seeking relief on the grounds that their school lied to them.

“We want to level the playing field and let people know, instead of having it be this closely held secret,” said Eileen Connor, the group’s director.

Senator Elizabeth Warren, Democrat of Massachusetts, and eight Senate colleagues sent Navient a letter last month with a lengthy list of questions about the program. Navient responded, but did not directly address many of the senators’ questions.

Navient’s new program — which it calls a “school misconduct discharge” — is something of a private parallel to a federal program known as “ borrower defense to repayment ,” which allows those who were seriously misled by their schools to have their federal student loans eliminated. Under President Biden, the Education Department revived the relief program and used it to cancel nearly $30 billion in debt owed by 1.6 million borrowers.

The Project on Student Predatory Lending backed a class-action lawsuit against the government that led to a 2022 settlement under which nearly 200,000 borrowers had their federal student debts eliminated. Ms. Maynard, who is 34, shed $38,000 in federal loans through that deal.

But she, like many borrowers, remained mired in private student loans. Ms. Maynard paid $700 a month to Navient for more than a decade for her private loans.

A glass office building with a logo for Navient on the roof.

For nearly a decade, in the early 2000s, Navient — then known as Sallie Mae — struck deals with for-profit schools to issue private loans to their students. Lawsuits from state attorneys general later accused Navient of making those loans knowing that most would never be repaid . Many schools indemnified Navient for the private loans, agreeing to defray the company’s loss if the loans defaulted.

In 2022, Navient settled with 40 state attorneys general and canceled $1.7 billion in debt on those private loans — but only for borrowers who had already defaulted. Because those debts were unlikely to ever be repaid, the deal cost Navient only $50 million, the company said in regulatory filings. Borrowers who had kept paying their bills, like Ms. Maynard, remained stuck.

But a pressure campaign from lawmakers, federal regulators and lawyers representing borrowers prompted the company to create the “school misconduct discharge.”

Navient began sending a 12-page application form this year to some borrowers who complained about their private loans. The document lists dozens of types of impropriety by schools — such as inflating job placement rates and graduates’ earnings, or misrepresenting their educational programs — and asks borrowers to choose which apply to their experience. Applicants are required to submit documentation for their claims.

After Ms. Maynard’s federal loans were eliminated last year, she stopped making payments on her private loans and called Navient, seeking relief options.

A few months ago, Navient sent her its misconduct discharge form. Weeks later, she received the notice that her application had been approved.

The senators’ letter to Navient called its private loan discharge process “burdensome and confusing.” It also asserted a legal basis for borrowers’ claims that their loans should be canceled: the so-called holder-in-due-course rule, a 1975 regulation by the Federal Trade Commission that lets those who use certain types of loans contest the debt if the goods they bought were fraudulent.

The response that Navient sent the senators acknowledged the rule as a ground for claims. “We are committed to canceling all loans that meet the Holder Rule criteria,” Navient’s chief executive, David Yowan, wrote in the letter, which was reviewed by The New York Times.

The letter said Navient had discharged “some” loans for borrowers who raised claims under the rule, and had “recently introduced an enhanced process for borrowers to seek discharge,” which it described as “still in its early stages.”

Mr. Yowan told investors on a conference call in January that Navient had put $35 million in reserve for losses on school-misconduct claims. He cited “new regulatory expectations” as the reason. Navient has not disclosed how much of its $16.6 billion private student loan portfolio consists of loans that could be eligible for the debt cancellation program.

Senator Warren said in a written statement this week, “Navient has admitted responsibility for canceling their predatory loans but set up a process for cancellation that’s impossibly confusing for borrowers.”

Some trying to navigate the process have already failed.

Thomas Jean-Mastej had his federal loans for studies at American InterContinental University — a school cited by the Federal Trade Commission for deceptive recruiting tactics — canceled through the borrower defense program. In March, he filed a complaint with the Consumer Financial Protection Bureau about his private loans.

Navient responded by sending him the school misconduct discharge application form, which he submitted in mid-April. On May 10, he received a denial notice. It said Navient “carefully considers a variety of factors in determining whether a private loan should be discharged” but did not specify why his claim was rejected.

Mr. Jean-Mastej said he had hoped Navient “would have some compassion” — especially since he has, over the years, already repaid the company nearly $17,000 for a loan of just less than $7,000. He still owes almost $4,000.

Scores of others are in limbo, awaiting a response. Thomas Carter learned about Navient’s program on a Reddit forum . Following the steps recommended there, he filed a consumer bureau complaint, then received an application form from Navient. He sent it in three weeks ago.

“My thoughts were, like, why is this such a secret?” said Mr. Carter, who attended the Art Institute of York, in Pennsylvania. “You had to go through all these hoops to get the application.”

Stacy Cowley is a business reporter who writes about a broad array of topics related to consumer finance, including student debt, the banking industry and small business. More about Stacy Cowley

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What we know and what we don't about a historic settlement to pay college athletes

Becky Sullivan

Becky Sullivan

The NCAA and its Power 5 conferences agreed this week to a legal settlement that could allow for schools to pay athletes directly.

The NCAA and its Power 5 conferences agreed this week to a legal settlement that could allow for schools to pay athletes directly. Ezra Shaw/Getty Images hide caption

A sea change is coming to college athletics.

On Thursday, the NCAA and the so-called "power five" athletic conferences reached a groundbreaking agreement that seeks to end the century-old tradition of amateurism in college sports by allowing athletes to receive pay directly from the colleges and universities they play for.

The agreement, part of a class-action lawsuit known as House v. NCAA , must be approved by a federal judge overseeing the case, a decision that could be months away.

FILE - Wisconsin's Traevon Jackson dribbles past the NCAA logo during practice at the NCAA men's college basketball tournament March 26, 2014, in Anaheim, Calif.

NCAA and college conferences OK $2.8 billion settlement over antitrust claims

The proposed settlement has two parts. First, it would distribute some $2.75 billion to athletes who competed before July 2021, when the NCAA first allowed athletes to earn money from their name, image and likeness rights. Second, it would create a future revenue-sharing model in which schools could each distribute around $20 million per year directly to athletes.

But far from closing the door on the years of debates and litigation over the question of payments to student athletes, the proposed settlement raises a slate of even more questions: Which athletes will be compensated? How much will they make? Will women be paid equally to men? Will schools that are unable to pay athletes be able to keep up with bigger, richer schools?

"Those are going to be very important details we're going to have to work out," said Matt Mitten, a professor of sports law at Marquette University. "The settlement is just the start."

Here's what we know and what big issues remain unresolved.

What would the proposed settlement cover?

In short, the future-looking part of the proposed agreement creates a system in which schools that are part of Power 5 conferences — the Atlantic Coast Conference, the Big Ten, the Big 12, the Pac-12 and the Southeastern Conference, all of which voted to approve the proposed settlement — can pay athletes.

Each school will be allowed to distribute up to around $20 million to its athletes, an amount based on a percentage of the average revenue earned annually by the power conference programs. That percentage begins at 22 percent and could go up over time. It's expected that other schools, those outside the Power 5 conferences, will be able to opt in.

College football is back and players still aren't getting paid

College football is back and players still aren't getting paid

"This landmark settlement will bring college sports into the 21st century, with college athletes finally able to receive a fair share of the billions of dollars of revenue that they generate for their schools," plaintiffs' attorney Steve Berman said in a statement.

Will all college athletes get paid?

No. Football players and men's basketball players at large programs are the most likely to receive payments. That's because most of the revenue earned by college athletics departments has historically come from TV contracts to broadcast those two sports. Women's basketball also earns some revenue, and those players too could receive payments.

"It's going to be up to each school to decide how they're going to distribute that $20 million. And that's going to probably vary a lot from school to school," said Mit Winter, an attorney who has represented conferences, schools and athletes in a variety of college sports legal issues.

A New Era Dawns In College Sports, As The NCAA Scrambles To Keep Up

A New Era Dawns In College Sports, As The NCAA Scrambles To Keep Up

Schools will also have the option to pay players in sports that generally don't generate revenue — like rowing, soccer, tennis, track and field and more — but it's unclear how institutions will choose to proceed.

And many schools that aren't part of the major conferences may choose not to pay anything to any players at all, which could eventually open a competitive gulf between the haves and the have nots.

As an example, Mitten pointed to his employer, Marquette, whose men's basketball teams have reached three Final Fours despite the school's lack of a football team and accompanying revenue that could more easily fund payments to players.

March Madness is an NCAA gold mine. This year, players can finally cash in too

March Madness is an NCAA gold mine. This year, players can finally cash in too

"How do we maintain the parity and competitive balance among the 350-plus Division 1 basketball schools when not all of them play football and are getting, individually, millions and millions of dollars from these big TV contracts?" he said.

Will women be paid equally with men?

The proposed settlement marks a new frontier for Title IX, the cornerstone civil rights law that prohibits sex-based discrimination at educational institutions that receive funding from the federal government.

Title IX's legacy in college sports has been massive, as schools are required to pay out scholarships in equal proportion to women as they do for men.

Women's NCAA championship TV ratings crush the men's competition

Women's NCAA championship TV ratings crush the men's competition

Now, schools will have to determine whether and how the law applies to revenue payments to athletes. It will likely be up to litigation to resolve the question, he said.

"There's really no set final answer on how Title IX is going to apply," said Winter. "I think some schools will assume that Title IX is going to make them give 50 percent of that $20 million to female athletes and 50 percent to male athletes. Other schools won't make that assumption."

Are the NCAA's antitrust woes over?

As much as the NCAA may hope this settlement puts the years of antitrust lawsuits behind them, on this one, experts agree: The answer is no.

Of particular concern is the cap that the settlement places on payout, which is set for now at 22 percent of the average revenue earned annually by Power 5 schools. That figure is much lower than the portion of revenue paid out in professional sports like the NFL and NBA, where players take home about half of revenue.

Dartmouth men's basketball team votes to unionize, shaking up college sports

Dartmouth men's basketball team votes to unionize, shaking up college sports

In those leagues, players have agreed to receive that share of the revenue by way of collective bargaining agreements. Those labor agreements provide legal protection from individual lawsuits over compensation, said Mitten. But in college sports, where athletes aren't considered employees, no such bargaining agreements exist — meaning the NCAA is still exposed to antitrust litigation.

The NCAA and schools are already lobbying Congress to pass a federal antitrust exemption for college sports that would protect them from future lawsuits over pay.

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' class=

I will be traveling to Krasnodar sometime during the spring of 2010 but I have a couple of questions. I will be traveling from the US and want to know if I will have to travel via Moscow or if there is a more direct route either from Ukraine, Europe, or even Turkey. I'm assuming that Krasnodar does not have an international airport.

' class=

It does not have an international airport. You will have to make a transfer in Moscow.

I was afraid of that, but thank you for the information. It will be a long trip.

' class=

By the way - there 3 international airports in Krasnodar Krai. Krasnodar (Pashkovsky), Sochi (Adler) and Anapa.

This topic has been closed to new posts due to inactivity.

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7 critical student loan forgiveness dates in 2024 borrowers should know about.

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WASHINGTON, DC August 24, 2022: President Joe Biden delivers remarks on student loan forgiveness ... [+] at the White House on August 24, 2022. The Biden administration is rolling out a number if initiatives providing debt relief to borrowers in the coming months. (Photo by Demetrius Freeman/The Washington Post via Getty Images)

Several key student loan forgiveness dates are approaching over the next several months. The Biden administration has changed or extended deadlines for critical debt relief programs, including as recently as this month . These changes give borrowers more time to seek relief under key initiatives, but also can lead to confusion as the landscape seems to be constantly shifting.

Meanwhile, the Education Department is preparing to roll out a new student loan forgiveness plan later this year. The administration completed a key step earlier this month, and borrowers could start receiving relief soon — if the program actually gets implemented.

Here are the key dates student loan borrowers need to know about.

Consolidation Deadline For Student Loan Forgiveness Under Account Adjustment Extended To June 30

Earlier this month, the Biden administration announced it is extending a critical deadline associated with the IDR Account Adjustment. This temporary initiative was established to address problems with income-driven repayment plans. Typically, IDR plans can result in student loan forgiveness after 20 or 25 years in repayment. But administrative, servicing, and oversight issues caused many borrowers to lose progress toward loan forgiveness, while their balances often ballooned due to interest-capitalizing forbearances.

Under the IDR Account Adjustment, the Education Department will count prior loan periods toward a borrower’s IDR loan forgiveness term that may not have counted before, such as past periods of non-IDR repayment as well as certain forbearance or deferment periods. These periods could also count toward Public Service Loan Forgiveness, as well. PSLF can shorten the timeframe for student loan forgiveness to as little as 10 years for borrowers who pursue careers in the nonprofit or public sectors.

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Certain borrowers who have federal student loans not directly administered by the Education Department — such as borrowers with HEAL loans, Perkins loans, or privately-owned FFEL loans — must consolidate those loans through the federal Direct consolidation program. Direct loan consolidation would effectively convert those loans into a government-owned student loan, making it eligible for the benefits of the IDR Account Adjustment. The deadline to apply to consolidate had been April 30. But a few days after that, the Biden administration extended this deadline to June 30. So borrowers who missed the boat now have a few extra weeks to apply.

Student Loan Forgiveness Processing Under PSLF Will Resume In July

The PSLF program is currently suspended as the Education Department transitions to a long-planned new PSLF servicing platform.

For several years, the PSLF program was administered by MOHELA, one of the Education Department’s contracted loan servicers. But the department wants borrowers to be able to access PSLF information without having to transfer servicers. To that end, the department started moving PSLF data from MOHELA to StudentAid.gov earlier this month. Most borrowers will keep MOHELA as their loan servicer, but their PSLF information (such as qualifying payment counts and employment summaries) will eventually be accessible through StudentAid.gov, rather than through their online MOHELA account.

During the transition, borrowers have lost access to their PSLF data. In addition, the department is not processing any PSLF employment certifications, and is unable to approve student loan forgiveness under the program. Borrowers can continue to submit PSLF forms, but they will not be reviewed until the transition is completed.

After July 1, the department will resume processing PSLF employment certifications and loan forgiveness requests, and borrowers should be able to access their PSLF data. However, advocates are concerned about anticipated processing delays associated with backlogs, and potential problems if PSLF data is lost or corrupted during the transition.

Student Loan Payments May Drop In July Under Biden’s SAVE Plan

More than eight million borrowers have now enrolled in SAVE, President Biden’s new income-driven repayment plan that officials have billed as the most affordable plan ever created. SAVE has replaced the older Revised Pay As You Earn plan, and is designed to be more affordable than other IDR plans such as Income-Based Repayment. All IDR plans, including SAVE, can result in eventual student loan forgiveness (typically after 20 or 25 years).

SAVE has several beneficial features, including a larger income exclusion based on a relatively higher percentage of the federal poverty limit. SAVE also has a significant interest subsidy that will prevent future balance increases by cancelling accrued interest that exceeds a borrower’s monthly payment. And SAVE has an accelerated student loan forgiveness provision for borrowers who took out small amounts of debt.

But starting on July 1, a new formula under SAVE will go into effect, which may result in even lower payments for millions of borrowers. For those who have only undergraduate student loans, the new formula will result in monthly payments being reduced by 50 percent — a significant reduction. Borrowers with a mix of graduate student loans and undergraduate student loans will also see a reduction, but the exact amount of the reduction will depend on the weighted average of their undergraduate and graduate school loans. Those who have only graduate school loans will see no changes to their payments under SAVE.

PAYE and ICR Enrollments End On July 1, Which May Matter For Student Loan Forgiveness

As part of the final steps of implementing the new SAVE plan, the Education Department will also be ending most new enrollments in two older IDR plans — Pay As You Earn (known as PAYE) and Income-Contingent Repayment (known as ICR). The cutoff date is July 1.

For most borrowers, this won’t matter. That’s because SAVE is designed to be much more affordable than other IDR plans, including PAYE and ICR. So for many individuals, SAVE is the best option, and losing access to other IDR programs won’t make a difference.

But for a subset of borrowers, this cutoff is important. That’s because PAYE has a 20-year IDR student loan forgiveness term for all borrowers. In contrast, SAVE has a 20-year loan forgiveness only for undergraduate borrowers; borrowers who have any graduate school loans would be on a 25-year loan forgiveness term under SAVE — and that extra five years in repayment could be costly, especially if they occur during a borrower’s peak earning years. In addition, PAYE has a cap or upper limit on payments, while SAVE does not — another significant difference that could, in some cases, make SAVE a more costly plan for higher-income borrowers as compared to PAYE.

In certain cases, ICR can sometimes also be more affordable than SAVE, as well. This isn’t common, but it typically happens when a borrower has a relatively small loan balance compared to their income. In that instance, a different ICR formula kicks in, which can result in comparatively lower payments than under SAVE.

Borrowers already enrolled in PAYE or ICR can remain in those plans if they want. And Parent PLUS borrowers can continue to enroll in ICR if they consolidate their loans through the federal Direct consolidation program. But starting on July 1, all other borrowers not enrolled in those plans will no longer be able to do so. So now is the time to carefully evaluate your IDR options.

Student Loan Forgiveness Implementation Under Account Adjustment To Be Completed By September

Following the Biden administration’s recent extension of the consolidation deadline for the IDR Account Adjustment, the Education Department now anticipates completing implementation of loan forgiveness under the adjustment by September. Previously, the department indicated that it expected the program to wrap up by July.

“The U.S. Department of Education (ED) currently expects that the payment count adjustment will be completed by Sept. 1, 2024,” says updated department guidance . “When we implement the adjustment, it will automatically be applied to all Direct Loans and FFEL Program loans that are managed by ED at that time. This includes Direct Consolidation Loans that repaid a privately held Perkins or FFEL Program loan and that are disbursed before the adjustment occurs.”

Borrowers who don’t qualify for immediate student loan forgiveness under the account adjustment can still receive and retain retroactive IDR credit. But they will need to enroll in an IDR plan — if they are not already — to continue making progress toward loan forgiveness. Sometime after September 1, the department intends to publish IDR payment counts and progress indicators through a new dashboard available through StudentAid.gov.

Fresh Start By September 30 To Receive Student Loan Forgiveness Credit

Borrowers in default on their federal student loans currently have a new pathway back to good standing. The Fresh Start program is a Biden administration initiative that allows borrowers to restore their federal student loans to regular repayment simply by contacting their loan holder. Fresh Start also can eliminate collections fees and negative credit reporting associated with the loan’s default status.

But the Fresh Start program is a one-time initiative, and is set to end on September 30. At that time, there will be fewer default resolution options, and the department can resume collections activities — including pursuing wage garnishment or intercepting tax refunds. Importantly, borrowers who get out of default through either Fresh Start or Direct loan consolidation by the September 30 deadline could receive credit toward IDR student loan forgiveness all the way back to March 2020.

“Borrowers who exit default prior to the end of the Fresh Start period will receive the full benefit of the payment count adjustment and receive credit for periods in default from March 2020 through the month they exit default,” says the department. “After the Fresh Start period, only borrowers who rehabilitate to leave default will benefit from the adjustment, but they will not receive credit for periods in default during the payment pause.”

Biden’s New Student Loan Forgiveness Plan Should Arrive This Fall, With A Caveat

The Education Department is in the final stages of rolling out a massive new student loan forgiveness plan . The new program, which is being implemented under the Higher Education Act, has gone through a lengthy rulemaking process that Biden administration officials hope will put it on stronger legal footing than Biden’s first student debt relief plan, which wound up being blocked by the courts.

The new loan forgiveness program will be broad, potentially benefiting 25 to 30 million borrowers. But it will target relief to specific groups of borrowers, such as those whose balances have increased significantly due to interest accrual, people facing significant hardships, and individuals who first entered repayment at least two decades ago.

The administration completed a key step in the process earlier in May when it closed a period of public comment on proposed draft regulations. This summer, the department is expected to publish the final version of the rules governing the program. After that, the administration should launch the new loan forgiveness initiative in the fall, likely in October — but possibly as early as September. Whether the program actually results in loan forgiveness, however, will probably depend on how widely-expected legal challenges play out in federal courts.

Adam S. Minsky

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