With over two million schools and 260 million students, India has one of the largest education systems in the whole world. According to analytics, the education industry is growing rapidly and will become a 227 billion dollar industry by 2022.
Opening a school may sound pretty straightforward, but behind every successful venture lies various considerations. India has over 2million schools and 260 million students, and the number will only go up in the following years. By the year 2025, India will have the most prominent domestic education system globally. So, if you're planning to open a school in India, this may be the perfect window. Proper financing and school loans can make your plan work.
What are the requirements for opening a school?
The school-opening process is straightforward, but it requires many steps and many things to take care of. Sometimes, the processing and permission-related procedure may take a little more time. Proper planning and execution are mandatory for a successful school business.
These are the things you need to consider before venturing into the education business.
- Deciding the type of school and planning – Before venturing into the business, it is essential to determine what kind of school you want to open. It can be a playschool at first; then, you can decide to add higher sections. Primary education does not need any board affiliation, but the state education dept. Must recognise it. If you're opening a secondary or a higher secondary school, then affiliating the sections to a board of education and approval of the syllabus by the board is mandatory. Moreover, the state board of education must give it clearance.
- Loans and finance – Financing is a major factor in the school-starting business. Considering a loan for startup business in India is a great starting point. As other organisations come to join hands with the project, the matter of school loans will become much more manageable. Once the finance is able to back the project, opening a school will become a matter of months. Setting up a school trust will aid the registration process.
- Surveying the market – It is vital to pick the right spot for your school. Choosing a spot may depend on a variety of factors. The location, availability of transport, facilities regarding health are important considerations you need to make. Selecting the city or region also counts, as it can show the number of existing schools. The preference of the parents is another defining factor, whether they want a specific board or a suitable, safe location.
- Infrastructure – When opening a new school, following the guidelines of the state education board is mandatory. Every state has a set of regulations in which you need to come through. Everything can add more value to your business plan, the structure, staff, and facilities. The design itself can contribute to a better learning environment, and the students will have a sense that they belong there. Apart from education, the scope of sports activities and extracurricular will give the students an all-round learning and growing experience.
- Marketing of the school – Marketing is one of the fundamental steps for startups, especially for starting a school successfully. Before the advertisement, coming up with a good message and motto is vital. Online promotion of your school will have a good impact, especially if you hire a good marketing agency. Banners, flyers, and posters can be good for offline promotions.
Conclusion
Starting a school can be a fantastic business plan if you have the right planning, infrastructure, and financing. If you can check all these boxes, your school will be generating considerable revenue in a short time.
