Do you want to know the cost of starting a school in Nigeria? Yes, education is a big investment and a sustainable business. You heard me right…
Starting a school in Nigeria can be very cost-intensive and needs a lot of planning and logistics. This article will guide you on the process and method of creating a school.
If your plan is to establish a school in Nigeria, the primary move will be to analyze the cost of starting one. That will be in your favor.
This will give you a great insight of the cost of starting a school in Nigeria. Through a cost analysis, it will be simpler to do a start-up capital estimate which will guide you on the capital acquisition.
How to Start a School in Nigeria and General Cost
The steps to starting a school in Nigeria are:
1. Planning and Researching
Patiently and critically think, go through your mind, soul search. Effective planning is one of the keys of succeeding in any business.
Engage in serious research, learn from those who have managed to make a fortune from starting school in Nigeria.
Their experiences will serve as a guide to your business planning. Become familiar with the modus operandi of the business.
Create a business plan that will conform to your short and long-term business growth.
Your business plan should also carve the nature of the school you want to start in Nigeria: Is it primary, secondary, university, polytechnic, college of education, innovative institution, daycare center, adult center, creative or vocational acquisition center? Your business plan should encompass the details of such.
Another aspect of planning and researching is having a financial, implementation, assessment, or marketing strategy. A budget should also be made and funding in place.
A mission statement, which will become a guiding principle and philosophical root that will guide the actions of students and staff.
Read: Accurate List of NOUN Courses and Requirements
2. Pick a Location
Look for a place or you can begin building your school in a location that is easy to locate, secure, and serene.
A far and distant location is not advisable. If it is difficult to locate a good place, it is important for you to get funds to rent a facility.
Get good building personnel to aid you to facilitate the building of a great structure that is best for a suitable environment.
The school building should have a lot of space, well-ventilated with proper water supply.
Read: List of Less Competitive Courses to Study in Nigeria Universities
3. Get educational equipment
It is of utmost importance for you to purchase improved textbooks, quality teaching facilities, and important equipment.
Other great facilities are nice desks, fans, TV with educational programs, toys, school buses, etc. Equipment that will make your school outmatch its competitors should be on the lookout.
Read: MTN Pulse Nigeria: Everything You Need to Know About MTN Pulse
4. Well qualified staff
Another step in starting a school in Nigeria is recruiting well-qualified staff that will impart values and excellence in the mind of the students.
Don’t employ sentiments when recruiting, competence should be first.
Passionate and enthusiastic staff should be hired. Try and develop great interpersonal relationships with them and give them encouraging salaries.
5. Register your school
Your school must be government-approved and registered with the corporate affairs commission. This will ensure credibility and your school will avoid legal issues.
Read: Recruitment Past Question Practice
6. Promote your school
Ensure you timely create awareness for your school, through social media and every publicity tools. Go for competition, build a website, etc.
Get your school’s name on the lips of people. Creating a social media page for the school on Twitter, Facebook, and Instagram is a good start.
How Much is the Cost of Starting a School in Nigeria?
After checking the cost amount for each of the above-listed steps and drawing your business plan according to the above steps, you will then know the actual amount it will cost you to start a school in Nigeria.
4 Key Questions to Ask When Starting a School in Nigeria
What kind of curriculum should the school use in order to suit the demands of the students?
There are various options available to proprietors and funders. Assess what kind of learning opportunity you want your kids to have, where they want to go to university, and how much it will cost.
The International Baccalaureate (IB), for example, is frequently chosen by schools that emphasise curricular uniformity.
The IB curriculum is more expensive to implement… and it necessitates rigid compliance with training programmes for teachers.
Will the school be a day school, boarding school, or a neighbourhood school?
It’s crucial to understand how each private school will benefit its community while establishing your private school. Neighbourhood schools are those that are intimately involved with the local community.
These schools are typically located in close proximity to the community, allowing pupils to stroll to school.
The majority of neighbourhood schools cater to younger pupils. There are many advantages to having a neighbourhood school, such as attracting families to a new housing development. The school’s image would be inextricably linked to the neighbourhood.
What is the school’s market demand?
A crucial consideration before moving further is how much demand there is for your business on the market.
Which private schools are currently operating in the area?
How do you know they won’t be enough to meet demand?
What characteristics of your planned school set it apart from others on the market?
Is this a profit or non-profit school venture?
The choice is yours: private schools can be for profit or not for profit.
The profitability of a school enterprise has no bearing on its success.
A good school is a product of effective management practices.
We hope this article was helpful.
If you like this article, please share it with your friends using any of the share buttons below.