Schoolflash Academy Business Plan | How to Write a Good Business Plan.
How to Write a Good Business Plan: Schoolflash Academy Business Plan is what we are going to use as an example of a good business plan, this is a Standard recommended business plan despite being used as a case study on how to write a business plan.
How to Write a Good Business Plan
INTRODUCTION OF BUSINESS
Research in the field of early childhood development continues to reveal the importance of early experiences and education in a child’s overall knowledge and well-being. It is also widely held that a significant percentage of students do not have the social and emotional skills needed to be successful in school. With more and more parents striving to give their children an edge over their peers, you can benefit by learning how Schoolflash Academy aims at providing lasting solutions to this malignant phenomenon.
It is against this backdrop that I Draft this business plan. I have conducted and still conducting an intensive analysis of the nursery schools and early childhood development programs currently available in my area. I have also identified geographical areas or populations in my community that is not being served and determine if my nursery school business can meet their needs.
I have written out the amount of financing I need to secure to open my business as well as my plans for making the nursery school profitable. I have also outlined goals for my business and constructed a timeline for achieving them while also discussing your plans for marketing, staffing, and operating your nursery school business on a daily basis.
DESCRIPTION OF OUR SERVICE AND/OR PRODUCT IDEA
What are these problem Schoolflash Academy is designed to solve? Touching on the key value attributes of the idea shows a great deal of regulation. My idea provides child care at affordable price through crèche, Nursery and Primary education at, Oron Road, Akwa Ibom State. I am in the business of providing primary education that will mold the lives of children morally, socially, and mentally.
The concept behind the business has being in existence for 1 year. It started with a lesson that now graduated into nursery/primary school. It is to be registered with Corporate Affairs Commission and we have already opened a bank account for it with Diamond Bank.
We have a special way of teaching called Montessori. This is the latest trend of nursery/primary school teaching. We are solving the problem of primary school education in the locality as there is a great need for quality and standard education with the use of special teaching skill called Montessori.
The number of children born yearly is on the increase and there is need for more nursery and primary schools that will cater for them and the need for even more will continue over time. I choose the nursery and primary school education business because I have passion for teaching and compassion for children. As a result, I have passed through education to degree level. However, I have over 7 years experience in this industry. I have seen a great need in my area. Many new families are relocating to the area as a result of jobs and congestion in the towns.
To build pupils morally, socially, mentally and to be knowledgeable in all field.
In the next five years.
- We would have started our primary/nursery school fully equipped with basic educational functionalities.
- We would have spread to 2 other locations functionalities.
- We will be the largest provider of primary school education my area.
Excellence, discipline, diligence, respect and love. The Montessori style of teaching we shall provide is a specialize form of teaching which only few serious schools can provide it. It needs a specialize form of training. The requirement to enter education industry in Akwa Ibom State are:
- Education certificate, minimum of N.CE
- Registration with Corporate Affairs Commission
- Registration and approval with Akwa Ibom State Ministry of Education
Registration with the association of private school in Akwa Ibom State.
PROSPECTIVE CUSTOMERS & MARKET
This is an existing market segment and very familiar to the market. My customers are parents that have children starting from 6 months of age and above. My customers are workers in the industrial estate and the residence of Shelter Afrique Housing Estate, oron road residence, areas of Akwa Ibom State. We target medium and high income earners. The demand is high because more women than ever before are going to work and therefore nursery and primary school provide a suitable environment for their children to be looked after in.
The existing market segments are:
- Neighbourhood residence which is growing rapidly
- The customer outside the neighbourhood
- The workers in the industrial estate.
The parents in the neighbourhood of Shelter Afrique Housing Estate, oron road residence area and is the largest segment. They are growing rapidly because of the over population in Uyo, the Akwa Ibom Stat capital, business Plan for Schoolflash Academy. This business plan is about opening a nursery school in Uyo in Akwa Ibom State. A business plan shows the compatibility of the business with various positive and negative points.
As far as the need for this business to set up is concerned, the population of the town is increasing at a very high rate. The reason behind this is the high per capital income of this town. A huge development is taking place in the town in all the terms.
People from all over the world are trying to shift their job or their business to this town. Hence there has to more and more nursery schools for providing them the nest early education to build their future. The biggest concern for anyone living in Akwa Ibom is the education because usually the Christian countries do not give that much an importance to educational system. This concern of the people living in the town should be knocked out of their mind by providing them the best nursing education. Schoolflash Academy will provide all that is required.
- The main goals and objectives of Schoolflash Academy are as follows:
- To maintain friendly, secure and motivating surroundings that excites and gives confidence to the charm of knowledge.
- To care for every child in the school society as a personality, appealing their assistance and activities.
- To build up a nice atmosphere of interaction among all the kids and jointly up a nice atmosphere of interaction among all the kids and jointly advance the excellence of knowledge.
Our mission is to make every child live with a confidence and with a kind self-respect in him or her and make them very well prepared for the long term race of life which will provide a proper self-satisfaction to the parents as well to us. To have a morally grounded passionate and compassionate teachers.
KEY TO SUCCESS
Critical success factors for any company are the factors which make the company succeed in a long term race. Critical success factors for Schoolflash Academy are as follows:
- Success factor 1: A concerned and associated educational society.
- Success factor 2: A capable and attractive curriculum-based study
- Success factor 3: A supple and sustainable educational surrounds.
Schoolflash is a company which will soon be in the market of Nigeria with its first launch as Schoolflash School. At Schoolflash Academy, we will ensure a sense of laughter and creativity among the kids along with the best studies possible which will build these small kids for the future in a best possible way. Schoolflash Nursery School will provide them the best possible services to the kids to make them perform very well in their educational prospects as well as in their co-curricular.
The company is being solely owned by the owner Mr. X. But for starting up the business or opening a nursery school in Akwa Ibom, one or more venture capitalists are needed who will invest money in the pocket. Hence the school will be owned by MR. X, MR. Y and MR. Z. where all will own and equal among of share of 33% each.
This means that this is a joint proprietor ownership. The reason for enrapturing this form of ownership is that Akwa Ibom is a town which involves huge investment if any business is to be started. For such a huge amount of money there should have somebody who can have the capability to invest in the business.
As the town is highly expensive it requires lots of money to purchase or take a land or rent. As we have decided to purchase the land, hence any bank will not obviously give money for entire requirements to be fulfilled. Hence we need venture capitalist in our business.
VISION AND FACILITIES
We have planned to open up our school in Uyo, Akwa Ibom State. This is a very popular place of Akwa Ibom. We will have to make up a building in this place which can fulfill our desired requirements. There will be some physical requirements of the upon for the opening of the school: Amount of space: amount of space needed for the fulfillment of our requirements would be such that we need the followings:
- Six class rooms
- One staff room
- One principal room
- One meeting room
- One Dean room
- One small swimming pool for kids
- Two big halls for playing
- One auditorium
- 4 toilets
- For hostel/day boarding
- Two big halls
- 4 toilets
- 1 mess
Type of building:
Type of building should be such that if in the future we want to extend our nursery section then we should have some space for our future plans as well. Building or land to be taken should not be at all residential because we are going to use it for the commercial purpose. A good parking lot should also be there. A good facility of power should be there.
Schoolflash Academy is a mixed curriculum school for children between the age group of 1 year to 4 years. Here by mixed curriculum, we can depict that there is no particular curriculum that is followed in the school. It will be a nursery school with features of the entire curriculum in one, be it a British Curriculum, Arab curriculum or Indian curriculum. We are a quality service provider. Hence the main aim of the school is to satisfy the parents of the small kids by a stream lined flow of education provided to the kids.
Core competencies explain the types of competition that we will be facing in the market. Basically there is only one type of competition that we will be facing in the market. There will not be much in direct competition but there will be only direct competition among several nursery schools in Akwa Ibom. They are some very good schools that will give us a solid fight. They are Stepping Stones Preschool, Humpty Dumpty, and first step Nursery.
There are very less number of kid’s nurseries in Akwa Ibom. The government is not supporting the opening of public schools in the town. There are more and more expats that are coming from all over the world. The credit goes to high development of the town that leads to the huge outsourcing of the high level employees.
Market Summary Analysis
Demographic profile of Uyo.
According to the demographic profile of the town, there are more than 120,000 children which are below the age group of 10 years. This is around 14 percent of the whole population. With the arrival of more and more people coming to work in the town or setting up a business in the town, there is an increment in the requirement for more and more nursery schools in the town.
We have just depicted that there are only around sixteen good nursery schools in the town. And more over there is an arrival of more and more foreign families to this town. This has led to an increase of the overflow of the nursery students in a school. Obviously, if there is more student than the seats available then it would be a problem for both management and for the parents as well. The situation is that the students overflow has seen a record length. This has made the parents make their children sit at home.
This is really a matter of frustration for the parents as there are rally less number of nursery schools in the town. This makes the parents as well as the government of Akwa Ibom worried. (2) If the owners of these nursery schools are asked, then they have a view that it is really difficult to open new nurseries by them or to extend the existing nurseries as it would not help the situation improve.
According to the owners of several schools, this is the worst year in the history of their lives as far as the admission for the nursery students are concerned. This report suggest that there is a huge requirement of the nursery schools in the town and as far as the facilities are concerned in the school, it is obvious far better to have extra ordinary facilities in the school so as to attract the parents towards the school.
SERVICE BUSINESS ANALYSIS
The rush of the students admitting for nursery schools are that much high that there are large numbers of waiting lists for intake of the students and still schools are ignoring their admissions because they do not have the seats available with them. Following is the list of some highly reputed schools with their waiting list for admitting the students. Because of the above effects, several parents have decided to make their children stay at home and learn at their place only till they are not eligible for the primary schools.
There is a huge fight for getting the admissions in the nursery schools in Akwa Ibom. This report easily suggests that there is a big requirement for nursery schools in the town and we can also take the fact that parents are dying to admit their children in the nursery schools and they are not getting the chance. So this can be kept in mind and several advantages can be drilled out of that.
Uyo is the most expensive town of Akwa Ibom State, Nigeria as far as owning the land or taking it at rent is concerned. Various schools are unable to expand because the rents of the building are really high that according to them opening a new branch or expanding the school would be non profitable. That would be a deal that can make them give profit. But after some time she realized that it is a difficult task as there are several government complications that would come in between.
But there is a different perspective of owner of Bright Stars Academy. According to him renting is no longer a long term process and hence he is keen interested in opening a new branch of the school in other parts of town. The above report shows us a negative factor for opening up a nursery school in the town. The only problem that will come is the money because there will be a huge initial investment in this business as the rents of buildings are really high and owning a building is not all an easy task.
As far as the scenario is concerned, size of the market is very much restricted. There are very low numbers of nursery schools in the town as compared with the population of children of age group 2 to 4 years. With the reference to the size of the market, we mean two things, the population of the kids in the town and the number of nursery schools to admit them. The population of the kids are very less number of nursery schools in the town.
Demand for more nursery schools in the town is directly proportional to the more and more increase in the expats coming to the town. Akwa Ibom is a state which is developing at a very high rate. More and more people from all round the world are coming to get settled in the town.
This has been increasing the demands for more number of nursery schools. The fact that there are large numbers of expatriates is making several countries believes that there is a need for more international schools in the town so as to fulfill the needs of these expats.
DISTRIBUTING A SERVICE
All the services described in the service description will be distributed to the little kids.
- Fulga Int’l School
- African International Nursery and kids school
- Bright stars Nursery and Pre-school
- Christ the King Nursery and Primary
- University of Uyo staff school Nursery
- Reward Academy
STRATEGY & IMPLEMENTATION SUMMARY
As we have formulated our niche as well, now outline a marketing strategy that will be marketing plan and will be according to our niche of the trends we have seen from the above market derive several marketing strategies. They are as follows:
There are different types of marketing strategies needed, like
- Pricing strategies
- Promotional strategies
- Pricing strategy
Method of setting up the prices or in our case fees of the students is obviously a determining factor for the customers. Though we have depicted in the marketing analysis that the competition in the market for the Nursery schools in Akwa Ibom is really low, still we can say that pricing is an important factor for the customer. In our case the main reason for it to be significant is the financial crisis of 2008. This is the biggest reason we have to be very careful to take care of the pricing strategy.
Our school will have a maximum capacity of 150 students in all. This is not at all a big number. Hence we can say that the pricing that we have depicted in the marketing analysis is absolutely correct because ours is not a big business. We are just starting with a low scale business hence a very small price will obviously affect the business and incur a huge amount of losses.
Hence we have kept a pricing strategy of the average price or a bit low than the competitors. Pricing includes very fewer fees amount of the kids that will be studying in the afternoon shift. Basically, kids from the lower middle class will come to this place.
Meeting Customer Needs
Our current clientele and potential customers require constant reassurance that we deliver quality service and reasonable rates. We will maintain honesty and request candid input from our clients. We will allow customers to take monthly surveys and benefit from their insight.
Giving our children quality services as opposed to attempts to impress parents with unique ultra modern methods and avant-garde teaching techniques is our aim.
How we will sell
Word of mouth advertising via quality output has proved our strongest selling point. Advertising in local papers and glossy local magazines. Occasional community business expose.
Ability to penetrate Market
Our 9 years experience in a professional primary/nursery school business and our proven ability to deliver tender loving care while priming the child for secular schooling makes us a good choice for parents making their child’s emotional welfare and education a priority.
Schoolflash Academy Center will take the child care solutions to the community via presentations at photo studios, pediatricians offices, dental offices, churches, African American venues and shopping centers.
Schoolflash Academy Center will be located at a convenient location with the Ikpa Road, uyo vicinity close to the University of Uyo. The Nursery/primary School center will provide Nursery/primary School services from 6 AM to 6 PM Monday through Friday. During that time children will be provided nutritious meals, snacks; along with age-appropriate structured weekly lesson plans and age appropriate activities.
The operations will be handled in the following way:
1, Mr Dakkada Orange as the director of the center, will be handling the day-to-day operations of the center. Her responsibilities will include, but are not limited to: hiring and supervising employees; design, training and overseeing of age-appropriate monthly themes and weekly lesson plans; communicating with parents; handling all issues that arise; taking payments from parents; handling late payments; and overseeing overall operations.
1, Mr. Dakkada Orange will be responsible for working with the accountant to insure accurate financials. She will also handle accounts payable and running all the monthly financial statements. All financial records will be kept at Golden Honey Bee so all owners will have access to the financials operations. We are planning to us.
Management software as the technological support for our daily and financial operations.
1, Mr. Dakkada Orange will provide advisory assistance in overseeing the overall operations for the center. She will monitor all financial and operations reports to monitor the progress and areas of concern for Bouncy kids. The hours of the center will be from 6:00 A.M to 6:00P.M.
1, Mr. Dakkada Orange will supervise four other full-time employees. These employees will earn a monthly salary of
N25,000. In addition, it may be necessary to have part-time assistance. Each full-time employee will work 40 hours per week. For safety and quality of care, the center will be staffed with four employees at all times. During peak hours it may be necessary to have as many as four employees on site. Employee benefits such as health insurance and retirement are not offered at this time.
All employees are required to receive training in basic primary education at least up to NCE level. When a new employee needs to be hired, Mr. Samuel Adam will be responsible for the hiring process. Initially a review of the budget will occur to determine the available funds for the position. She will post the job, gather applications and resumes, and interview the applicants. The employment status of the new hire will also be contingent on a completed background check by the Family Independence Agency. The Directors approval for the filling of the position will be required for employment.
Senior staff members
Each Senior Staff Member/Lead Teacher will plan and execute a structured curriculum along with assessing the needs of each child in his/her care throughout the day. He/she will show competence in caring for and educating children and will have the ability to communicate effectively with parents. In addition to training and certification in early childhood development, Senior Staff Members will have at least four years’ experience working in a Nursery/Primary School setting.
For children ages 24 months to 28 months who require a greater level of one-on-one nurturing, they will be placed in a class with a lesson plan structured towards their needs, growth and development. There will be one senior staff member per 6 children. For children ages 28 months to 36 months who are more independent and enjoy the peer social interaction, they will be placed in a class with a more advanced and structured lesson plan. There will be one senior staff member per 6 children.
Senior Staff Members are responsible for:
- Reading and reviewing the curriculum Guide and the Staff handbook.
- Establishing learning objectives that are consistent with the center’s philosophy.
- Planning and executing a program that reflects the center’s philosophy and program.
- One seasonal bulletin board
- One divers weekly theme oriented bulletin board
- Weekly lesson plan posted, following the yearly theme for the pre-school
- Preparing a written lesson plan weekly, along with needed art projects for review by the director.
- Preparing projects and activities that reinforce themes and extended learning.
- Taking daily attendance
- Working cooperatively with the Director, as needed, in developing and implementing weekly lesson plans.
- Attending all staff meetings and in-service workshops.
- Meeting on occasion with the director to review objectives, plans and evaluations.
- Planning a monthly conference with a parent and filling a developmental checklist on children’s progress.
- Planning at least one classroom event per month for parents to share with their children.
- Reviewing children’s records monthly and updating as needed.
- Being attentive to health, sanitation, nutrition and safety at all times.
- Having materials in on time.
- Dressing and conducting one’s self in a professional manner. (Uniform, i.e. juvenile themed scrubs attire)
- Recording information pertinent to a child’s development.
- Recording accidents in an accident log daily.
- Planning at least one field-trip event per month.
Taking children to the library and the park as often as possible.
Assistants are not responsible for a group of children, unsupervised, but are responsible for maintaining harmony in a classroom; providing support for the senior staff teacher; sharing in the care, safety, and healthy development of children in the group. Assistants will be given the opportunity to interact with children of all ages.
Volunteers will be welcomed to participate in the daily function of an assigned classroom. If they are parent of currently enrolled children, they will be asked to volunteer their time and talents in one of the other classrooms within the Nursery/primary school center.
The center aide will assist the Director with the preparation of meals for the center. When not involved with preparing of serving meals, the Center Aids will assist any senior staff member with art projects, or other activities as needed. Others areas the Center Aide may be necessary are: assisting Senior Staff members and children with computer projects, in the large Recreation/Computer room; outside activities; and field trips. This will be a 30-hour/week position.
- Reading and reviewing the Staff Handbook
- Reading and reviewing the curriculum Guide
- Supervising kitchen and food preparation
- Maintaining a safe and sanitary environment
- Maintaining clean and orderly rooms
- Setting up activities for table and art activities
- Cleaning up after activities have been completed
- Preparing children for snacks, lunch and other transitions.
Assisting the senior staff teacher as needed; replacing name tags; discarding, sorting , and replacing equipment; making special notations on children progress reports; phoning parents with routine messages; making suggestions that are helpful and
Health of personnel
All employees must have a current physical on file, signed by a physician. All physicals must be updated annually as state mandated. All employees must have no file a current TB test starting that the employee is of tuberculosis. The TB test must be updated annually. Sick employees will be encouraged to stay at home and will be replaced with a qualified substitute.
All staff shall be of responsible character and suitable to meet the needs of children. The Center will not employ individuals that possess the following:
Convicted of a felony, a misdemeanor or if they ever been involved in a substantiated child protective services case as per state regulations. They will also be required to sign documentation that they have not been placed on the central registry for substantiated abuse or neglect.
Staff or volunteers will not be permitted in the center if they have been convicted of child abuse or neglect or convicted of a felony involving the harm of threatening of children. Employees will also be asked to sign an authorization allowing the center to investigate past employment and request information from previous employers regarding work experience and qualifications.
Senior staff members must obtain state mandated qualification including 90 hour Nursery/Primary School certification and have an associate’s degree or equivalent Nursery/Primary school experience within the field of early childhood education. If a degree is in a related field, an employee must have earned, or be in the process of earning, at least 12 credit hours in early childhood… Assistants must be eighteen years of age or older and must be neat and trendy.
Acquiring competent productive and forward looking employees is essential to customer satisfaction and the growth and expansion of the company. To that end we provide extensive training as well as growth incentives with a view to grooming each employee to discover and reach his or her true potential.
a. Consultants, Advisors and Contractors
b. Long-Term Goals, Short-Term Goals
Our long term goal is to open franchising to the general public particularly employment acquisition day care professionals with a view to expanding our services, employment acquisition and small business development services across the east coast. In the short term we will expand or client base in the Baltimore metropolitan area.
Objectives for Achieving Goals
To serve the Nursery/Primary School provider needs of low-to-middle income families while providing excellent daycare and Nursery/Primary School services. Obtain a financial investor who would contribute a minimum amount of N75,000 for the opening and equipment installation for the Nursery/Primary School center within the Baltimore Metropolitan Area.
Promotion means that how can we make the kids know that we are coming to the market with some product for them. Here, in case of Schoolflash Academy, we will need to promote our school before we open up our school in order to realize the parents know that some excellent nursery is coming in the market so that they can wait for us before putting their kids to some other nursery.
There can be several techniques by which we can promote Schoolflash Academy.
These are as follows:
Advertisements are very much necessary to start up a new project. The main reason for the advertisement is that whenever a new business is to be started like in our case opening up of Schoolflash Academy, it is very much necessary to gather attention of the local population. This could only be possible when they will know about us and the only way to make them know about us is the advertisements. We can have advertisement in the following ways:
- Electronic advertisement
- Public Relations
- Several promoting Events
Sales forecast is determined under sales strategy
Management and organization will describe about whom all will be there in the business. This means that what will be the human resource structure of the school which means who will be the employees in the school. As far as the main position of the school is concerned, there will be a dean of the school who will the chair person of the school and under whom all the day to day management of the school would be held.
Obviously, the dean of the school is going to be one or all among the three main partners of the business, I Mr. Dakkada, Mr. Y and Mr. Z. in case of the incapacitation of the dean, there would be a signing authority but most of the major decisions would be taken in presence of the dean.
MANAGEMENT TEAM GAPS
There are several gaps between the team members:
- Language barrier
Sales of the Nursery school is kept constant for the entire year Effect of recession is not taken into account.
Key Financial Indicators
- There are mainly four key financial indicators:
- Break even analysis
- Profit and loss statement
- Balance sheet.
The Article Above is a Complete Comprehensive Business Plan.
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