Hello, friends! Are you thinking of opening a school but wondering do all school succeed? How can I minimise the risk of failure in a school? Well! In this video, I will give you some essential tips on what you can do to ensure that your new school project does not fail. My name is Amol Arora, I am the Managing Director of SHEMROCK & SHEMFORD Group Of Schools, we are a chain of 625 preschools, primary schools and 10+2 schools spread across India, Nepal and Bangladesh. Over the past three decades, we have helped hundreds of entrepreneurs to set up successful schools and earned up to 2,00,000 rupees a month. well! Do all schools succeed? The answer is No! There are many reasons why schools don’t do well. What happens is, we normally see the school is the easiest business to do or the easiest project to do, all schools do well, schools are making so much money.
That’s not the case. You might see a few schools which are doing very well in your city but the truth is, the majority of schools are still struggling to reach that stage. Now, what makes a difference between a school that succeeds and the school which does not do well. When I say school, it could mean a preschool, primary school or 10 + 2 School. There are many reasons. The first thing is, who is advising you? Where are you picking the advice from? So, before jumping into any project you must research very well. It’s very famously said if you are given 1 hour to chop a tree you should spend 45 minutes in sharpening your axe and 15 minutes in cutting the tree. What we normally do is, when we are excited about a project we straight away jump into the execution. The planning is very important. How do you plan? Whom do you ask?
Do your homework very well. Right from searching the right location, the right kind of architecture, the design, the recruitment, the curriculum, everything has to fall in place perfectly. It’s like a car which has multiple wheels and each wheel is responsible for success. If the building is not right, admissions won’t happen. If the curriculum is not good admission will not happen, the staff is not good, if the brand is not good, it will not work. So, for a school to work, everything has to work perfectly in sync and the school succeeds. Parents can see, this school is adding value, whatever I am paying I am getting much more value for that, admissions happen. So, the key is: Give value to parents and to price it at a point at which they feel wow! I am getting so much and this is what I have to pay. Great! it’s no brainer. But, most people fail to realise that. They try to do hits and trial, try to experiment, they try with this…. they make expensive mistakes and before they know it, the project does not take off because of the cost to run a school. The people normally think of setup cost, it’s not just setup cost. The setup cost is ok, you have the funds in your pocket, you have saved some money, you can invest in the school. But, what about the operational cost? The operations are where the money is going. So, you have to keep your fixed cost – low. The fixed cost means the cost that is going to the school irrespective of whether you have one child or you have a thousand children in your school that has to be kept low in the rational years.
How do you do that? What does it consist of? The rent, the salaries and any other fix advertising cost that you may have incurred. So, it is very important that you make the right decision, you take advice from the right people while you are making all these decisions and that is why an experienced franchise system helps you. The franchise system would have done it hundreds of times in different geographies, different territories, different fee points and they have the experience to share with you. If you are considering, opening a school and are serious about it, whether it’s a playschool which can be started with an investment around 5-6 lakh rupees to a senior secondary school where the investment can go to 20 crore rupees.
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