With the growing population of educated parents, there has been a tremendous increase in the demand for more and more schools. Due to this, investing in schools has become a lucrative business idea for people who want to invest their time and money in the ever growing education sector. However, starting a school is not just about constructing a physical infrastructure but it does involve the attainment of a number of approvals and licenses at various stages from the authorities concerned. In case, you too want to start a school, go through the following steps.
Forming the entity – Running a school is considered as a non-profit venture. So, first you need to form a governing entity for your school. It can either be a Society registered under the Societies Registration Act, a Trust registered under the Public Trust Act or a Company registered under the Companies Act. Ensure that your Society/Trust/Company consist of at least three members who will eventually become the board of directors of your school.
Creating a blue print – Once your Society/Trust/Company comes into existence, you need to create a comprehensive business plan. It will not only help you to determine the type of school you wish to open but also the budget requirement, school location, infrastructural plans, marketing and recruitment process. Moreover, it will give you an idea of how your future school will be.
Securing the funds – Next, you are supposed to secure funding options for the establishment of your private school. The amount of investment largely depends upon the location and the kind of school you are opening. Typically, an investment ranging between Rs.1 crore to Rs.2 Crores will be required. Since, it is very difficult to arrange such a huge investment; so, you may resort to banks/financial institutions/money lenders that provide loans for the same.
Obtaining the NOC – After securing the required budget, you need to acquire the No-Objection certificate (NOC) from the Department of Education (DoE) of the respective state. The NOC is essential as it certifies the requirement of your school in the specified zone. Further ensure that you obtain the “Letter of Sponsorship” from the DoE because then only you will be able to apply to the Municipal Corporation for the allotment of land for your school.
Acquiring recognition – After the completion of the construction of the school building, you need to acquire recognition from the state’s Municipal Corporation or the Department of Education in case of a primary school or a senior secondary school respectively.
Gaining affiliation – Next, you need to seek affiliation to a recognized educational board such as CBSE, ICSE or the respective States Board. Initially, your school will be granted temporary affiliation and if the board is satisfied with your school’s performance, it will be granted permanent affiliation after an inspection done by a team of professionals appointed by the board. Remember that, even after attaining the permanent affiliation, your school needs to adhere to the rules and regulations of the board.
Getting other certificates – Once your school is ready is ready for initial use, you may also acquire the other certificates such as approval from the local health department, fire safety approval etc.
Recruiting staff and promoting school – lastly, you need to recruit qualified staff and finally advertise your school to publicize it in the neighborhood.
Follow these steps to start a school anywhere in India. However, obtaining permissions at various stages makes it a lengthy and time-consuming process. Therefore, buying a franchise of a reputed school chain is a fruitful way to start your own school. SHEMFORD Futuristic School is the perfect option as it offers a franchise model which is beneficial for both the franchisor as well as the franchisee. So, fill the simple application form given here to get associated with the leading brand in the education sector. Fill the Franchise Contact Form to get consultant’s advice.