School business in Nigeria today is one of the most lucrative investments in the country because the priority of every parent is to give their children good education.
This is expected as one of the benefits of good governance but since the so-called government schools failed in the past; the citizens have passed a vote of no confidence in government schools, thereby seeking satisfaction in privately owned schools for high quality education.
Nowadays, both parents work long hours irrespective of gender, which creates serious need for crèche, good schools, foster homes and after school homes where their children can be looked after at any cost.
Parents spend up to 50% of their income on their children’s school fees depending on number of children thereby creating a viable business opportunity for school owners. This business opportunity has been grasped and capitalized on by wise investors.
In some states in the recent times, government schools have picked up though due to the challenging trend in private schools yet they are too few to cater for the whole of the country due to birth rate.
Every day, thousands of babies are delivered, creating more opportunity for establishment of schools.
There’s no fear of tomorrow when it comes to putting your money into school business. Private schools have come to business limelight and have come to stay. Privately owned schools: ranging from Crèche, Pre-school, Nursery, Primary and Secondary schools is good business in Nigeria.
Worthy of note, is that it is classified and highly competitive. There is space for all categories of investors ranging from mega schools to small schools depending on your capital; there is target audience for every school.
The downside however is that it is not all schools that thrives and survives. Many have closed down and many will still close down while others are booming and expanding.
There are pitfalls. Yeah! Dangerous pitfalls where many schools have been wrecked. Yet, some investors can’t pinpoint what is it they got wrong that left their schools crawling financially while others count their blessings smiling to the bank.
Owning a school is very different from running a school, many investors do not know this. You can open a crèche or a full school (ownership) but not able to run it due to lack of pertinent skill and training. Running a school requires lot more than capital. You need to learn how.
Structure and facilities are good starters but isn’t all that you need for sustenance, many school owners do not also know that. You can start in your living room and end up having a state of the Art private university if your skills are good. You can also start with big structures and well equipped state of the Art school and end up running the school financially bankrupt.
It’s all about crossing the t’s and dotting the i’s.
Parents as major stakeholders know what they want. Meeting the demands and needs of parents, pupils, employees and your immediate environment can be challenging. Therefor you need to learn how through this training.
Managing different aspects of your school business to ensure all round success as well as stay abreast with your competitors can be very demanding.
There’s no gainsaying that school business is a very profitable business but the quality of education offered by the school and personal-socio relationship with stakeholders can make or mar the expected results in terms of population vis-à-vis the profit.
So, find out why parents opt out of some schools and obviously prefer another?
Why do some schools grow fast in population while others remain stagnant?
These and many more are the Economic Importance and benefit of acquiring training in School business.