Starting a school business in Nigeria is one of the most profitable businesses to start in Nigeria; I will teach you how to start A school business in Nigeria. Education is the right of every child, and every parent wants their children to have the best education.
With the high birth rate in Nigeria, every year, children will be enrolled in school to have their formal education, which makes the school business a booming business for people to start.
Private schools have become popular in Nigeria, as many individuals are setting up private schools and are making huge profits with them. On almost every street in Nigeria, there is always a private primary and secondary school there.
Private schools are now giving public schools a run for their money. Due to the poor infrastructural decay and careless attitudes of their teachers, parents are now removing their kids and wards from public schools to private schools despite the huge school fees of private schools.
Private schools are very profitable as you can charge from 5,000 to 500,000 naira school fees per term, depending on your location, infrastructure, and capabilities. I am going to give you all the steps and requirements of starting a private school business in this post.
10 On How To Start A school business In Nigeria
1. Buy A Land in a Good Site
This is the first step you ought to take after you have decided to embark on starting a private school. Decide where you want to start the school and buy land in an open area. Parents won’t like their kids to be passing through bushes or isolated places to school for security risks.
The minimum plot of land you should buy is 1plot of land and above where your school building will be erected. Depending on your location, a plot of land price ranges from 250 to 2 million nairas.
Read more: how to buy a land property in nigeria 2022.
2. Building your School
The amount of building your school depends on the type of building you intend to build. The cost of erecting your school will be communicated to you by your Engineer or Architect.
Your classrooms should be spacious and well ventilated. The classroom should have at least a space of 3.5 meters square per child.
The cost of building a school is high due to the economic meltdown in Nigeria. Building materials to buy include cement, plank, Zinc, sand, windows, and other building materials.
If you are not financially capable of buying land and constructing a physical structure, you can rent a building to start up your school, and as time goes on, you can use your profits to build and expand your school business.
3. Equipping your school with facilities
After getting a physical structure for your school, you need to equip your school with social amenities and physical infrastructures like Swing, medical laboratories, a library, computers, a clinic, a football field, table tennis courts, and other necessary equipment in the school.
Equipping your school with these amenities will attract your school to prospective parents to enroll their wards in your school. Also, having good and functional equipment can help you get government approval for the school.
If your school is well equipped and has qualified teachers, you can charge a huge amount of money as school fees, and parents will gladly pay.
Read more: List of school facilities.
4. Hire qualified and competent Staff
After building and equipping your school, you need to hire teachers who are qualified, experienced, God-fearing, and competent.
Without good teachers in your school, students would be leaving your school for your competitors’ own, which is not a good omen for your school and would tarnish the image of your new school.
To recruit qualified teachers, you need to promise them a good salary so that they can work for you.
Advertise your teaching job vacancies on posters around your area, advertise it on the radio and in local magazines and newspapers in your area.
Make the requirements for the job clearly stated in your ad. Requirements you can put in your vacancy ads includes minimum degree for applicants, minimum years of experience, and character behavior.
I will advise you, even after applicants meet your job requirements, to give them a screening test to prove their academic competence. After that, you can hire them and fire them if they go contrary to your goals and objectives.
It is not only teachers you should hire, but there is also a need to hire none teaching staff like a school bus driver, Security Gate Man, school legal adviser, cleaner and school nurse.
5. Register your school with the Government
To make your school a legal business, you ought to register on the government education board to give it legal status.
Getting Government Approval is the goal of every private school that wants to be standard. You can’t get government approval if your school is substandard and does not have essential educational facilities.
Government Approve status for your school will protect and save you from Government ban, embezzlement, and school closure.
Parents will be secure and happy to come to your school if they know that your school is approved by Government.
Register it with CAC
Register your school as a business entity with Corporate Affairs Commission (CAC). CAC can give you a legal business status for your school, which make your school a legal entity making it to be sued or sued for without involving you.
A CAC registration will grant you access to loans and business grants for your school.
6. School Bus
Buying a school bus is very important if you want to operate a drop and pick a method of transportation that parents will love.
Getting a school bus will help and aids children to come to school to and fro. The bus will pick them up at their homes in the morning and will bring them back to their houses after the end of school.
So an average fairly used bus costs from 800,000 nairas and above. As the population of students increases, you can purchase more school buses.
If you want your school to be a brand, you need a logo and Letterhead to identify the school. Every school has its own logo; one can make its logo unique and special from others by hiring a professional graphics designer to create a logo for your school.
You can get graphics design on freelancing sites like Fiverr or Upwork, or you can find a locally-based graphics designer recommended to you by friends or search for graphics designers in Nigeria.
8. School Motto
Develop a motto for your school with 2 or 3 sentences that summarize your overall objectives and aim for your educational institution.
Choose a motto that is memorable and conveys your aims for your school to your students and parents.
9. Academic Curriculum
This is an important step to starting a school business in Nigeria. A curriculum will guide you on the topics and subjects you should teach. We have Nigerian, British, and American school curriculums.
Some schools use the Nigerian curriculum, while some expensive private schools use both Nigerian and American or British academic curricula.
Conclusion on how to start a school business In Nigeria
Those are the ten steps on how to start a school business in Nigeria; if you have the ambition to start a private school in Nigeria, the above post has given you guides to start.
School business is one profitable business; you should think of starting up in Nigeria.