Starting a preschool can be one of the most rewarding projects one could undertake in their lifetime. As an organization that supports prospective preschool owners, the International Preschool Curriculum has drafted a guide that answers many of the questions that aspiring preschool owners should know before embarking on setting up a preschool. Starting a preschool requires a different approach in many ways to standard businesses. Many prospective owners turn to consultants or franchises for advice and guidance, however it is not impossible for you to follow these simple rules and still obtain success for years to come.
Treat your school as a business! – Even though you may have charitable outlook towards education or you may be establishing a school because you love kids, you have to remember that preschools are ultimately businesses. Those that forget the maxims of business are more likely to fail. Preschools are still required to submit accounts, set up budgets and pay taxes. There are likely to be many more outgoing costs than income for the first few months, or even years. Therefore, making sure that you have a watertight business plan, budget and financial plan will assist you in setting realistic targets and doing everything possible to meet them.
Mission Objective & Brand – It may surprise you that this is one of the most important forms of communicating your ideas, vision and unique selling points. Most successful preschools convey this message to the community very well. It is important to brand yourself professionally and invest in a graphic design service to ensure that your brand communicates your preschool effectively. There are hundreds of mission objective examples on the internet, but try and think about what you want your preschool to stand for and how you want it to be different. Both your mission objective and brand will be imperative in establishing the all-important school culture in later years.
Road to success – Vision, ambition and entrepreneurialism are keys to ensuring that your idea becomes a sustainable business. Starting off small may be a good idea if finances are constrained, but experience has shown that the most profitable model is one that is medium in size and caters for an enrollment of 50-70 students. Of course larger centers can generate great wealth, however have higher start up and recruitment costs.
Funding – funding your new preschool project can run into the hundreds of thousands and often new owners will turn to banks or family for investment. Using other people’s money is a great idea if you lack the financial resources to do it yourself. However, be wise in investing other people’s money as there will always be an element of risk. The best way to invest is to make thought out decisions, reduce expenditure on items that are not essential and spread out payments for expensive items such as playground equipment.
Recruitment – Building a strong team takes perseverance, patience and careful decision making. Hiring someone on personality alone may turn out to be a huge mistake. Experience shows that you should be diligent and ask as many pertinent questions as possible and obtain references. Qualifications are also a very important aspect in teaching and make sure to research the requirements (if any) in your state before hiring anyone. Criminal background checks are the norm in most parts of the world and many states also require CPR training and health and safety training.
If you want to learn more about the International Preschool Curriculum, then visit their website and learn How To Start A Preschool with less than $30,000.
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