If you are creating a charter school and need investment, it is likely that investors will request to see a business plan. Pro Business Plans has worked with many charter schools to start and grow through the acquisition of capital. This article provides information on what is included in a charter school business plan and how it is typically structured.
When creating a business plan for a charter school, there are many factors that will combine to build your investment case. Such factors include the school location, area of specialization (if any), and the operations structure. Investors will want to know that the school will be able to operate in a sustainable and predictable manner. Demand for the school based on the current market level must also be demonstrated through geographic, segmentations, and market growth arguments. The following sections outline what is included in each section of the plan as it related to a charter school.
The business model section of a charter school business plan outlines what areas the school covers (E.g. ages, subjects, activities) and how it will operate. Many schools follow a relatively structured curriculum with the distinguishing factors being the expertise of their faculty. More qualified staff are typically more effective at teaching than those with lesser qualifications. Therefore, a major part of the business model will be communicating how the school will attract and retain professional administrative and educational faculty.
The marketing strategy for a charter school business plan should be more aimed at acquiring qualified staff and reaching its student capacity level. It may take a full semester for parents to switch schools that their children are already in, as switching schools is always risky. However once the school receives a stellar reputation, it is a matter of helping parents communicate it with informational materials and branding.
The financial projections for a charter school generally include three to five-years of projections based on public funding, private grants , tuition, and other fees. Comparable financials of private charter schools is used as a benchmark to estimate the performance and budgeting for your planned school. The total student capacity and estimated growth rate in funds will also be benchmarked against similar schools, but adjusted for the geographic area. For instance, a region with a very poor school system may experience must faster student growth than one located in a region with a large selection of regional private schools.
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