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Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.
Developing Your Executive Summary
When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.
Who Are the Stakeholders and What Potential Problems Need Identifying?
During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.
Evaluate the Potential Risks Identified
A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.
Assign Ownership and Create Responses
It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.
Have a System for Monitoring
Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.
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Writing a Business Plan
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.
The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.
The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.
Services and Products
This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.
The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.
Organization and Management
Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.
Financial Projections & Appendix
The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.
The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.
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Education is seeing a gradual transition and expansion to online services. That being said, there’s still a place for innovative and fun educational experiences. Whether you’re inspired to develop efficient online courses or an engaging art or children’s museum, you’ll need a business plan to do it. Check out our assortment of education services sample plans and start your business today.
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School Business Plan Template
Written by Dave Lavinsky
School Business Plan
Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their schools.
If you’re unfamiliar with creating a school business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.
In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a school business plan step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your school as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a school or grow your existing school, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your school to improve your chances of success. Your school business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Schools
With regards to funding, the main sources of funding for schools are donations and gifts, tuition, personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for schools.
How to Write a Business Plan for a School
If you want to start a school or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your school business plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the kind of school you are running and the status. For example, are you a startup, do you have a school that you would like to grow, or are you operating a chain of schools?
Next, provide an overview of each of the subsequent sections of your plan.
- Give a brief overview of the school industry.
- Discuss the type of school you are operating.
- Detail your direct competitors. Give an overview of your target customers.
- Provide a snapshot of your marketing strategy. Identify the key members of your team.
- Offer an overview of your financial plan.
In your company overview, you will detail the type of school you are operating.
For example, you might specialize in one of the following types of schools:
- Private K-12 school : this type of school typically charges tuition, and may be affiliated with a religious organization, or specialize in a particular learning method.
- Charter school: this type of school offers primary or secondary education for a tuition, and may receive some public funding, and/or donations. These schools require their students to take state-mandated exams.
- Special subject school: this type of school specializes in teaching a specific subject, such as driving, first-aid, self-defense, fine arts, language, or general tutoring.
- Preschool: this type of school typically serves children who are aged 3 and 4. These schools prepare young children to enter formal education, and are funded by some combination of tuition, donations, and government grants.
In addition to explaining the type of school you will operate, the company overview needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of students served, the number of students accepted into elite formal education institutions, etc.
- Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry or market analysis, you need to provide an overview of the school industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the school industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.
The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your school business plan:
- How big is the school industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential target market for your school? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your school business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: families with elementary-aged children, families with high-school-aged children, families with preschool children.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of school you operate. Clearly, families with high schoolers would respond to different marketing promotions than families with preschoolers, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other schools.
Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes public schools, virtual schools, and families who do homeschooling. You need to mention such competition as well.
For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as
- What types of students do they serve?
- What type of school are they?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide specialized instruction, either in subject or in method?
- Will you offer courses or services that your competition doesn’t?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a school business plan, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of school that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide religious-focused K-8 education, college preparatory courses, or single-subject instruction like driving or fine arts?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the courses and/or extracurricular activities you offer and their prices.
Place : Place refers to the site of your school. Document where your company is situated and mention how the site will impact your success. For example, is your school located in a growing neighborhood, in the city center, or will you operate purely online? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your school marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:
- Advertise in local papers, radio stations and/or magazines
- Reach out to websites
- Distribute flyers
- Engage in email marketing
- Advertise on social media platforms
- Improve the SEO (search engine optimization) on your website for targeted keywords
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your school, including answering calls, planning and delivering instruction, applying for grants, fundraising, performing administrative tasks, overseeing instructors, handling discipline, scheduling and monitoring extracurricular activities, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to enroll your Xth student, or when you hope to reach $X in revenue. It could also be when you expect to expand your school to a new city.
To demonstrate your school’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing schools. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in running a school or experience with public school administration or who has served on a public school board.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you enroll 100 or 1,000 students per semester, and/or offer extracurricular activities? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your school, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement
Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a school:
- Cost of equipment and supplies
- Payroll or salaries paid to staff
- Business insurance
- Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your school location lease or a list of elective courses or extracurricular activities you will offer.
Writing a business plan for your school is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the school industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful school.
School Business Plan FAQs
What is the easiest way to complete my school business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily write your school business plan.
How Do You Start a School?
Starting a school is easy with these 14 steps:
- Choose the Name for Your School
- Create Your School Business Plan
- Choose the Legal Structure for Your School
- Secure Startup Funding for Your School (If Needed)
- Secure a Location for Your Business
- Register Your School with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your School
- Buy or Lease the Right School Equipment
- Develop Your School Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your School
- Open for Business
Learn more about how to start your own school .
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Business Planning In Educational Institutions
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- 1. Presentation by Ms. Ketoki Basu Partner FinEx Solutions
- 5. <ul><li>What are the current sources of revenue? </li></ul><ul><li>Does it meet our requirements? </li></ul><ul><li>Is there sufficient cash surplus each year to meet my long term goals? </li></ul><ul><li>Is there a fairly high level of attrition? </li></ul><ul><li>If yes, have we analyzed it? </li></ul><ul><li>Do we attract good talent? Why not? </li></ul><ul><li>What is the kind of research publications? </li></ul><ul><li>Do we offer good research facilities? </li></ul><ul><li>Is the infrastructure good? Is there scope for improvement? </li></ul>
- 6. <ul><li>REVENUE EXPENSES: </li></ul><ul><ul><li>Programmes being offered currently </li></ul></ul><ul><ul><ul><ul><li>Increase the in take </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Reduce unnecessary expenses, if any </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Have we determined the cost of a programme? Is the programme profitable? Do we modify/discontinue a programme? </li></ul></ul></ul></ul><ul><ul><li>New programmes to be introduced </li></ul></ul><ul><ul><ul><ul><li>Long term or short term </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Courses in demand and not offered by others-special </li></ul></ul></ul></ul><ul><ul><ul><ul><li>What additional revenue will this generate? </li></ul></ul></ul></ul>
- 7. <ul><li>CAPITAL EXPENDITURE AND EXPANSION: </li></ul><ul><ul><li>How is this expenditure currently met? </li></ul></ul><ul><ul><ul><li>Surplus generated </li></ul></ul></ul><ul><ul><ul><li>Donations/Grants </li></ul></ul></ul><ul><ul><li>How can resources be mobilized for long term objectives? </li></ul></ul><ul><ul><ul><li>Expansion – infrastructure/classrooms-corporate houses </li></ul></ul></ul><ul><ul><ul><li>Research chairs-sponsors </li></ul></ul></ul><ul><ul><ul><li>New centres of excellence-sponsorship </li></ul></ul></ul><ul><ul><ul><li>Alumni </li></ul></ul></ul>
- 8. <ul><li>Attract talent </li></ul><ul><ul><li>Faculty </li></ul></ul><ul><ul><ul><li>Adequate resources (infrastructure & funds) for teaching and research </li></ul></ul></ul><ul><ul><ul><li>Encourage research </li></ul></ul></ul><ul><ul><ul><li>Excellent growth opportunities </li></ul></ul></ul><ul><ul><ul><li>Good remuneration with flexibility in working hours </li></ul></ul></ul><ul><ul><ul><li>Medical facilities and post retirement incentives </li></ul></ul></ul><ul><ul><li>Students </li></ul></ul><ul><ul><ul><li>Offer programmes in a niche area where demand is high and supply low </li></ul></ul></ul><ul><ul><ul><li>Ensure good placement </li></ul></ul></ul>
- 9. <ul><li>Analyze current facilities </li></ul><ul><ul><li>Classrooms </li></ul></ul><ul><ul><li>Examination halls </li></ul></ul><ul><ul><li>Library facilities </li></ul></ul><ul><ul><li>Hostels </li></ul></ul><ul><ul><li>Canteens </li></ul></ul><ul><ul><li>Computer facilities </li></ul></ul><ul><ul><li>Support staff </li></ul></ul>
- 10. <ul><li>Classrooms </li></ul><ul><ul><li>Are the rooms well lit and clean? </li></ul></ul><ul><ul><li>Are too many in a room? </li></ul></ul><ul><ul><li>Is there clear visibility for all? </li></ul></ul><ul><ul><li>Is the latest technology available for delivery? </li></ul></ul><ul><ul><li>If not, how and when can we get it? </li></ul></ul><ul><li>Examination halls </li></ul><ul><ul><li>Is it sufficiently big and serves the purpose? </li></ul></ul><ul><ul><li>Is it quiet, clean and spacious? </li></ul></ul><ul><li>Library facilities </li></ul><ul><ul><li>Well equipped and easily accessible </li></ul></ul>
- 11. <ul><li>Hostels </li></ul><ul><ul><li>Are the rooms clean and spacious? </li></ul></ul><ul><ul><li>Is there a proper system to log and follow up of complaints </li></ul></ul><ul><li>Canteens </li></ul><ul><ul><li>Food is hygienic, palatable and cheap </li></ul></ul><ul><ul><li>Is there a proper system to log and follow up of complaints </li></ul></ul>
- 12. <ul><li>Computer facilities </li></ul><ul><ul><li>To students when they require it </li></ul></ul><ul><li>Support staff </li></ul><ul><ul><li>Support facilities are good and cater to student and faculty requirements </li></ul></ul><ul><ul><li>Is there reasonable motivation for them to work? </li></ul></ul><ul><ul><li>Is data easily available or an ERP should be in place? </li></ul></ul>
- 13. <ul><li>SWOT analysis </li></ul><ul><li>Resources to be analyzed, </li></ul><ul><ul><li>Fund </li></ul></ul><ul><ul><li>Talent </li></ul></ul><ul><ul><li>Infrastructure </li></ul></ul><ul><li>Mobilization of resources </li></ul>
- 14. <ul><li>THANK YOU FOR YOUR TIME AND PATIENCE </li></ul><ul><li>Ms. Ketoki Basu </li></ul><ul><li>Chartered Accountant </li></ul><ul><li>Partner, FinEx Solutions [email_address] </li></ul><ul><li>www.finexsolutions.com </li></ul>
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Education Consulting Business Plan Sample
Do you want to start Education Consulting business plan?
You might wonder how to start an educational consulting business. In that case, you can take help from this education consulting business plan. Starting a consultation business doesn’t require many resources. You just need basic expertise in the domain.
So, if you have a fundamental understanding of the education sector, you can start this business. However, in order to create a successful venture, you’ll need a good business plan. For that purpose, you can refer to this document or any related business plan such as life coaching business plan , etc. You can also take help from the best business plan experts .
2.1 the business.
Pro Learning will be an education consultation firm started by Harry Brown. The firm will aim to provide consultation services catering to the requirements of the clients in Stockton. The firm will provide a wide range of services for both students and educational institutes in the US.
2.2 Management of Education Consulting Company
Starting an educational consulting business requires appropriate management of the resources you possess. You can ensure this through an education consultant business plan. In this plan, you should mention all the technical as well as human resources you have along with your plans for their management.
In this strategic and operational business plan , all the requirements for business consulting education have been mentioned.
2.3 Customers of Education Consulting Company
The backbone of an education consulting business is its customers. Our customers will mainly be people who directly belong to the educational domain. They are identified as follows:
- International Education Agents
2.4 Business Target
Our primary goal is to become the most trusted place for all kinds of education-related consultancy services.
The financial targets that we want to achieve within the first few years of launch are demonstrated below:
3.1 company owner.
Harry Brown will own Pro Learning. Harry did his M. Ed two years ago. After that, he served as a freelance consultant to many clients. But he decided to expand his business and provide more services.
3.2 Why the Education Consulting company is being started
Harry observed that many schools around the Stockton area had a deficiency of adequate educational consultancy resources. Many able students needed guidance, but there was no one they could go to. Therefore, he decided to make use of his experience and start a consultancy firm.
3.3 How the Education Consulting company will be started
Step1: Plan Everything
A solid education consultant business plan is the first step in how to start an education consulting business. For developing your business plan, you can refer to this education business plan sample or any related business plan like business consulting business plan .
This sample educational consultant proposal can be used to guide the development of a business plan for any business because Harry decided to offer a wide variety of services.
Step2: Define the Brand
The next step in your journey is to advertise your business. You can do this by developing a brand. In your brand, you have to highlight your competitive advantage by listing your unique services and policies.
Step3: Establish Your Corporate Office
For the time being, Harry decided to rent out an office in Stockton. He will now put together a team and gather the technical equipment required.
Step4: Establish a Web Presence
Establishing a solid web presence is necessary when starting a business in this digital age. Keeping this in view, Harry created social media profiles of his business. He also had a simple website developed where clients could reach out.
Step5: Promote and Market
The last thing to do is develop a marketing plan and promote your business by following it.
Services of Education Consulting
Before you start education consulting business, you need to identify the services you will be providing to your clients. That way, you can develop your education consultant services business plan accordingly.
As Harry wanted to offer a wide variety of services through his business, so this education consulting business plan sample pdf can be used as a guide to writing any business plan. Even a mortgage lender business plan .
Below, we have described the education consulting services. So, if you want to know how to become an education consultant, you can take help from here.
- Education Counselling Service
The main service provided by Pro Learning will be education counseling for students. Students can book an appointment directly or through their institutes to gain the help and perspective they need. Our firm will help students:
- Realize their potential
- Understand their areas of aptitude
- Make an educated decision about their future learning
- Admission Procedure Help
Another important service of Pro Learning will be to guide students about the application procedures of the institutes of their choice. Many students shy away from applying to educational institutes because of the overwhelming and complex application procedure.
Pro Learning will:
- Guide students about application dates
- Help students plan out their application submission process
- Inform students about necessary academic and financial requirements
- Financial Advice
Pro Learning will also help students plan out their finances. And inform them of financial resources they can turn to if needed.
- Visa Assistance
Our firm will also handle visa applications and guide students throughout the whole process so that they are as efficient as possible.
Marketing Analysis of Education Consulting Company
Starting an educational consulting firm will require you to have an in-depth knowledge of the target market. You can gain this knowledge through a marketing analysis. A marketing plan for education consultancy business will help you identify your customers and competitors in a better way.
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Conducting marketing analysis is an essential step in the steps to become an educational consultant. However, if you don’t know much about marketing analysis, you can take help from education business plan samples. You can also look to specialized documents like Harvard business school marketing plan template for a more in-depth understanding.
In this document, we have detailed the marketing analysis of Pro Learning.
5.1 Market Trends
According to IBISWorld, the education consultant market is valued at $2 billion. The industry is expected to increase at a steady rate of 2% or over in the next five years. It is because people have finally realized the importance of suitable education. So more and more people are turning towards professional consultancy services to boost their careers.
5.2 Marketing Segmentation
The customer groups of Pro Learning are as follows:
Our primary services will be dedicated to helping students and coaching their academic path. They are expected to be our main customers and are expected to avail our resources the most. The services they are expected to use involve:
- Counseling for future academic opportunities
- Guide for choosing a career path
- Help in deciding and managing academic activities
Our second target customers will be universities and other institutes of higher education. We want to connect students with suitable universities. Thus, we are expected to partner with many universities throughout the year to provide them with a good candidate pool.
5.2.3 International Education Agents
We will also be partnering with international educational agents and connecting them with the universities in the US. So we expect them to avail our resources quite often as well.
Lastly, we will also reach out to schools to provide high school students counseling for deciding their future academic paths and careers.
5.3 Business Target
- To become the most sought out counseling service firm throughout Stockton
- To expand our services steadily and reach out to more schools
- To keep customer satisfaction rate above 95%
- To earn a profit margin of $30k per month by the end of our first year.
5.4 Product Pricing
Our prices will be very reasonable considering our main target audience is students. We will provide a greater range of services at the same price as our competitors.
Marketing Strategy of Education Consulting
To become prominent among the businesses for education consulting careers, you need to have a strong marketing strategy for educational consultancy. A good marketing strategy will help you highlight your competitive advantage to your customers. Therefore, it should be a part of your business plan.
Here, we have a sample business plan educational services that highlights the marketing strategy of Pro Learning. This is just an example. And you can use any business plan for guidance, may it be a counseling private practice business plan .
6.1 Competitive Analysis
- We have excellent client care services available that will be ready to help our clients whenever they need them.
- We will implement a feedback system to improve our services for our clients.
- Our clients can contact us directly by phone. Or they can reach out to us through our website or social media platforms. This will allow them to easily book appointments from the comfort of their home.
- We will have timings for walk-in sessions where our first-time customers can just come and go through a session without needing to book an appointment.
6.2 Sales Strategy
- We will offer reduced prices and sales for our long-term customers
- We will provide cheaper and affordable packages for students.
- We will advertise through word of mouth, Google Ads, and social media.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Personnel plan of Education Consulting
Any good sample educational consultant proposal includes employee hiring criterion. It’s because the success of a business, especially a consultancy business, depends on the employees and their behavior.
Realizing the importance of employee selection, Harry also decided to implement a selection criterion while selecting the employees mentioned below in the educational services business plan.
7.1 Company Staff
- 1 Co Manager
- 4 B. Ed graduates to help with the workload
- 8 Career Specialists
- 1 Web Developer/ Mobile App Developer to manage online sites
- 1 Sales Executive to organize and promote sales
- 1 Accountant
- 1 Receptionist
7.2 Average Salary of Employees
Financial plan of education consulting.
To start education consulting business, you need much more than sales. The success of a business is ensured by a proper financial plan that is usually a part of education consulting business plan.
A financial plan allows you to manage your time and other resources efficiently in order to reap the benefits. It also helps you to analyze the degree of profitability or loss that your business is incurring.
In your financial plan, you need to identify the ways and plan how you will earn profits and pay up your expenses. The financial analysis of a company also helps to identify ways to reduce expenses and increase productivity.
Here we’re providing the detailed financial plan for Pro Learning. You can go through this document on any business plan, such as a business plan for electrical contractor to help you develop a financial plan.
8.1 Important Assumptions
8.2 break-even analysis.
8.3 Projected Profit and Loss
8.3.1 profit monthly.
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
- How do I start an educational consulting business?
If you are wondering how to start an education consulting business, you can do it by writing a sample educational consultant proposal. You can refer to any business proposal such as business plan computer software for guidance.
- How much do educational consultants make?
If you are wondering how much do educational consultants make, then on average, an educational consultant makes $65k per year. But the salary may vary depending on the scale of the business and the job post.
- What is the average cost of an educational consultant?
On average, an educational consultant charges $85 to $200 per hour. The rates will be dependent on the services required and the scale of the business.
Download Education Consulting Business Plan Sample in pdf
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MOBI Business Plan Template
The primary value of your business plan is to create a written resource that evaluates most aspects of your new business including a description of your target customers and markets, profitability, organization, operations and more. The very process of writing your business plan helps you put your ideas on paper so you can evaluate what resources you have and what you need to be successful.
Your business plan is your blueprint for starting your business, your script to tell the story of your business to others, and your comprehensive analysis of the opportunity for your business. Business plans help you plan your roadmap, state your goals, share your vision, and analyze your strategy. A business plan is an important and valuable tool for new as well as existing businesses.
This MOBI Business Plan Template consists of sections that relate to the content included in the MOBI Starting a Business course . You can also use this template as a guide independently. We have created this template with the input of key stakeholders such as economic development agencies, lenders, mentors and successful entrepreneurs. You can complete sections of the business plan as you go through the course, to apply what you are learning along the way, or you can wait until you have completed the course. This business plan template is a universal model suitable for most types of business, which you can customize to fit your circumstances. MOBI provides leading topics, questions, and suggestions in each section to guide you. Here are some instructions to help you get started:
- On the cover page replace the MOBI spark with your own logo and provide your business name, personal name, contact information, and date.
- Complete each section leaving the main title, such as “Executive Summary,” and using the subtitles and questions as a guideline. Replace those subtitles and questions with the needed and relevant information. If some of the subtitles work with your format, you can keep them. You can type directly over the provided content or delete it as you complete it.
- You might want to start each section on a new page, which can also be helpful if you decide to include a Table of Contents.
Once you complete your business plan, be sure that key stakeholders review it. Business plans are not static; they will change as your business and the business environment change around you. It’s important to continually review and update your business plan to adjust for these changes.
Enter Your Business Name
Enter Your Name
Executive Summary Provide a summary of your business by addressing these key areas.
Name and Description of Business State the name of your business and describe your product or service.
Targeted Market and Customers Describe your target markets and customers and why they want or need your product or service.
Trends in this Industry What are the current trends in the industry that make this a good time for your product or service? For example, is the market for your product growing, and why? Have others failed to address a particular need that your product or service will address?
Value Proposition Provide a brief statement of the unique benefits and value your business will deliver to your customers. Describe the unique qualities of your product or service that will enable you to be profitable.
The Vision Describe the vision of your business and why you are committed to pursuing this vision and making it successful.
Founder Background: Work/life experience related to the intended business Describe your work/life experience, educational credentials, and how they are related to the business you plan to start. Include a list of your skills and knowledge, which will be required in your business.
Your Team If you plan to hire full- or part-time employees or seek business partners, describe your plan for engaging with these other members of your team. If you already have employees or partners, describe key personnel and their roles here.
Goals for business: Outline your key goals for your business. (Explain your plans for growing the business and what you can realistically accomplish in a defined period of time.)
Financing and Financial Projections ( Many business owners require the assistance of a bookkeeper or accountant when completing this section.)
Startup Capital Provide a table or spreadsheet showing the sources of your startup capital including what you or other investors will contribute and what you intend to borrow. Create a list of what the startup capital will be used for and how much will be left over for working capital ( SCORE Startup Expenses Template ).
Accounting Statements Prepare your starting balance sheet and projected profit and loss (income) statements for the first three years. (By month for the first year and then by year for years two and three.) Forecast your month-to-month cash flow requirements for the first year.
Analysis of Costs List and explain the key costs and profit margins that are important for your business. Classify your costs as fixed, variable, product, delivery, etc.
Break-Even Analysis Based on your costs and pricing strategy, prepare a break-even analysis.
Internal Controls Explain your internal and cash controls. For instance, check signing policy, strategy for controlling shrinkage, and control of incoming merchandise or supplies.
Business Organization Explain the form of business organization you intend to use and why it is best for your business (sole proprietorship, partnership, LLC, etc.).
Professional Consultants List the names of your key advisors: bookkeeper/accountant, consultants, lawyer, insurance agent, and any other professionals.
If you need a physical location other than your home to operate your business, identify your business space needs considering all phases of your workflow (production, storage, shipping, potential employees, customer meetings, and future requirements). Explain why the location you picked meets your workflow needs.
Marketing and Sales
Market Research: Your Customers and Competition Describe your ideal customer (who will be purchasing your product/service, key characteristics).
- Include any research that has helped you identify and characterize your target customer.
Describe your position in the market, your strongest competitors, and how you intend to compete.
Marketing Strategy and Tools Describe your overall marketing strategy, how you will find, engage, and build customers, including:
- Traditional marketing tools (signage, storefront, collateral, advertising, promotion, uniforms, mail, etc.).
- Online marketing (website, social media, email marketing, text marketing, others).
- Ecommerce (if applicable).
- Describe in detail how you plan to sell your products or services online.
- Describe how your best competitors utilize ecommerce and your strategy to improve on their practices.
- Research and identify the different channels where you will sell your product or services. What is your expectation of sales?
- Detail how will you take orders, process payments, and fulfill requests?
- Provide a detailed breakdown of the costs involved in creating, operating, and maintaining your ecommerce activities.
Sales Strategy Describe your sales process, activities you will conduct, obstacles you expect, how you will overcome them, and any customer service strategies to retain and expand your customer base.
Include k ey details about how you will operate your business.
- Outline the workflow of your business and the processes and procedures you will put into place.
- If applicable, provide details about how you will procure supplies, manufacture your product, and deliver your product or service to your customer. Include any equipment and facilities that you need.
- Describe how you will measure the success of your operations for quality, efficiency, cost control, or other measures of performance. Include any testing.
- Order fulfillment: describe your order fulfillment process, software to be used, and quality control methods.
- Supply chain: describe products/materials you need to purchase in order to make your product, include primary and secondary sources for these. products/materials, lead times, purchasing methods, and tools.
- Staffing: skill requirements, training program, supervision, outsourced functions, and hiring timeline.
Addendum: Licenses and Permits *Addendums can include but are not limited to License and Permits*
Make a comprehensive list of all licenses and permits you will need to do business in your area.
Your list should include the following: (For US-based businesses; requirements differ by country and region.)
- Name under which you intend to do business
- Permissions and/or limitations on the use of your property or facilities
- Federal, state, and local licenses (city/county), permits, and certifications needed to do business in your area (e.g. business tax license, seller's permit, safety certifications, employer identification number, etc.)
- Industry licenses needed for your particular area of business (contractor, electrician, daycare, beauty, etc.)
- International and national intellectual property protection through trademarks, copyrighst, and patents.
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Business Plan & Budget
Documenting your vision.
A business plan is an essential part of the planning process, helping identify goals and metrics and your plan to achieve them.
- Starting with your objectives
- Business plan vs. a budget
- Business plan types
- Creating your business plan
- Creating your budget
Planning for Your New School
Your business plan and budget are important tools for two reasons:
First, before you invest your time, energy and money in opening a school, it is important that you have a plan for yourself that you can believe in. Opening any business is hard work and carries risk - schools are no exception! Having a plan can allow you to move forward with confidence.
Second, your plan can be helpful to help others understand how you expect to turn you vision from dream to reality. From recruiting staff to recruiting financial backing, a solid plan allows you to build confidence in others, too.
In this section we look at the fundamentals for school business plans and budgets, and how these are derived from your vision and objectives.
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Websites & Admissions
Starting with your objectives.
As Lewis Carroll so playfully points out: you need to first know where you want to go, and then you can build a plan to get there.
If you’ve not already started with the work outlined in the school identity section of this guide, now is a great time to review the topics on core values and mission. Once your core values and mission are clear, you can begin to set objectives by examining questions such as:
Who are the students and families you want to serve? There are any number of ways you might think about this: are you intending to provide services for an underserved population or a group with particular needs that aren’t being met in your community? Are you wanting to bring together families with a common interest or ideology, whether that is an academic focus, religious conviction, academic philosophy, or opportunity for particular experiences?
What is the ideal size for your program? Even knowing you won’t get there right away, do you ultimately want to remain a small community of 18 or 24, or does your objective require a population of 300 or 500 or 1000 students to support the diversity of programming, staff expertise and varies programs you’d like to offer?
What role do you want to create for yourself? This can be a particularly tricky question, but it is crucial to step back and consider as part of your plan. If your first love is working in the classroom, you should have a plan that allows you classroom time. That may mean splitting time between administrative tasks and a small class workload, or it could mean having a large enough enrollment to bring in a full-time administrator. If you are excited by strategy and operations, and enjoy building a team, recruiting parents, and overseeing the day-to-day running of the school, keep yourself in an administrative role. There are dozens of roles you might choose to play: why not use this opportunity to ensure you put yourself in your dream job?
Once you’ve worked through your objectives (and written them down!) you’re ready to move on and begin planning.
Business Plan vs. Budget
A common misconception is that a well-defined and detailed budget is essentially the same as a business plan. While a solid budget is an important component of a business plan, a true business plan looks beyond just the projected income and expenses to answer questions about both strategy and tactics.
The Role of a Business Plan
Business plans can seem daunting if you’ve never had to write one before. It is a must-have document, though, as it serves as a road map for your new school. Although there are many things that are going to be a part of the business plan, it is there to explain what you hope to accomplish with your school and how you are going to accomplish it. Additionally, business plans serve as important documentation for financial institutions or investors to see whether your school is worth investing in.
The Role of a Budget
Budgets, on the other hand, are primarily internal documents you’ll use to track your income and expenses and determine where your spending should take place. If you need new textbooks or want to give someone a raise, your budget will guide you through your decisions and help you determine if you have the money to do so, or what you need to accomplish to make it happen.
Business Plan Types
Creating a business plan can take time, but the good thing is that they tend to follow a consistent format – so you can basically work from a template to create yours. There are two common approaches used today:
Traditional "Full" Business Plan
A traditional, full business plan tends to be comprehensive and detailed. Creation of a full business plan can be time consuming but going through the process will help identify areas of planning that you may not have considered, and the resulting plan should provide sufficient details to be used when talking with banks or investors. For full business plans, the US Small Business Administration has a great step-by-step guide that walks you through each section of your business plan, along with some examples to look at.
Start-Up "Lean" Business Plan
An alternate approach is the lean start-up plan, which is faster to write and focuses more on high-level plans and a few key elements. Lean plans can be a good place to start, with the assumption you will update and revise the plan frequently. Particularly if soliciting funding, you may require additional time and detail later. Tim Berry, one of the leading experts on lean business plans, provides a good overview in his What's a Lean Business Plan article.
Creating Your Business Plan
There are lots of options for online business plan templates and most share a lot of common characteristics. There’s nothing wrong with picking one based on personal taste. Any of the following are excellent options as a starting point:
growthink (non-profit business plans)
My Own Business Institute
US Small Business Administration
That there are many internet-based companies that offer business plan writing or editing, specifically. Here are just a few that you might want to check out:
Go Business Plans
Wise Business Plans
Many of the same companies that provide the business plan templates we highlighted are business consultants, not just business plan writers. Consultants can help you in your overall plans, particularly in areas where you may need guidance.
Professional organizations and associations for private schools, as well as your local chamber of commerce are also great resources for finding business consultants to assist you in creating your business plan and beyond.
Creating Your Budget
Understanding your costs.
The costs you’ll incur as a new school are really dependent on the choices you make in facilities and staffing. You’ll find a lot of useful information in those sections of this guide and they will help you get a clearer picture of the various expenses you’re going to face as you open up your school.
One of the great things about a budget is that, as long as you can easily read and understand it, the format isn’t going to make or break you. That said, staying organized and keeping track of everything takes a good system. One of the most popular methods is using a spreadsheet or system of spreadsheets to plan your income and expenses. Smartsheet has an excellent business budget template that you can modify to meet the needs of your school.
Once you are up and running, insight into actual income and expenses can be generated by your accounting software. Some accounting packages include budgeting tools as well, easing the work of comparing your plan to your actual numbers.
Tools to Assist With Budget Creation
Several excellent resources exist that can help you develop a budget, including:
The American Association of School Administrators has put together a School Budgets 101 document that outlines common expenses and budgetary considerations for schools
The Guardian published A beginner's guide to planning and managing school budgets in 2016, which explains several important budgeting principals.
Helping Educators Do the Work That Matters
We’ve developed these 10 topics to help you along the way. Take them all in at once, or start with the areas most relevant right now.
There’s plenty you can do to develop your own brand, starting right from your personal ideals and goals for your school.
Our curriculum pages include ideas on where to go to find materials, and different associations and educational models you may want to consider.
Legal & Operating Requirements
You need to know the requirements at both the federal level and for your state. Here are the basic details for every state.
Funding & Finance
Here we share ideas for possible funding sources, and ways you might be able to start with less than you thought necessary.
Having a plan for how you’ll operate and a budget to predict and allocate funds is critical for all businesses, schools included. We’ve pulled together resources here to help with both.
What facilities are right for your school? We encourage new schools to get creative, and have compiled some considerations to take into account.
How can you find and recruit the right talent for your school? What qualifications or certifications are required?
Policies & Procedures
Thinking about more than just a student handbook and conduct code, we've included recommendations & templates to help you develop your school policies & procedures
Marketing & Online Presence
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