How to prepare a feasibility study report before starting a school business in India?

How to prepare a feasibility study report before starting a school business in India?

The education sector in India is rising. Currently, the Indian education sector is valued at over USD 120 billion, among which K-12 segments command a major portion. Approximately 26.2% of the nation’s population ages 0-14, which additionally emphasize the school education industry of the nation. The government estimates that there are more than 1 .49 million schools in India, including govt. run, aided, and private schools. The total number of enrolled students amounted to more than 264 million students in FY 21.

The school education sector in India will continue to grow vigorously stemming from a large population, attractive demographic dividend, rise in disposable income, and the growing importance of education in India. Indian households, not just in urban

areas but also in rural parts of the country are understanding the importance of school education. The government is also supporting education through numerous policy and fiscal means.

5 Steps to Conduct Feasibility Analysis of a New School Project in Idea Before starting a new school project in India, one has to prepare a feasibility report.

A feasibility report can give a lot of insights into the state of the new business. It can help the investors and promoters to learn the viability of the business. One should keep in mind that although the growth potential is very high in school business, it is also a high competition business. Moreover, the pandemic has also taught about the risk in offline schools. Moreover, schools also have to face intensifying competition from edutech platforms, online education & training, etc.

Hence, it is advisable to conduct a feasibility study report. Also, a feasibility study for a school business is a little different from other business categories such as manufacturing business, healthcare, or retail set-up. Numerous things have to be considered before preparing a feasibility analysis for a school.

Mentioned below are the 5 steps in the feasibility study report.

Market Study: It is one of the initial steps in a feasibility study. Market study of a school includes understanding the demand in the proposed location by identifying total size of the student population, their requirements, family income, etc. It also involves identifying major schools, their fee structure, revenue, student size, student demographics and profile, etc.

Marketing Analysis: In this step the proposed school project would need to work on their positioning strategy and competitive game plan. They would also need to prepare a detailed budget for marketing and branding activities. This will include website, seo, social media, events, branded stationary marketing, online reviews, PR & media, community outreach, etc.

Human Resource Analysis: Make a blueprint about the school management structure, teachers, and other support staff such as the marketing and sales team, librarian, technical assistant, accounts & operations, and much more.

Resource Planning: Make a list of all the required resources, materials, and technologies. This will include lab technology, books for the library, educational software, audio-visual devices, study materials, etc.

Investment Analysis: The financial and investment analysis is an important aspect of any feasibility study. This will encompass break-up of investment such as- cost of construction, cost of operation, raw materials, manpower, etc. The financial analysis will also involve revenue projection, financial indicator analysis, etc.

Other Important parts of Feasibility Study or Analysis Make a Blueprint- Working with diligence while planning a school business is crucial.

Make a blueprint about the school’s location, teachers, streams taught in school, etc.

School Registration- Registering a school is important, as it makes the business legal and fetches more students who trust your services. Learn more about the registration process.

Real Estate Analysis- Once the school registration is finished, it’s time to seek land to build a school. There is a minimum requirement of 6k sq. ft. to 7k sq. ft. of land for primary school and up to 2 acres for a senior school. One should keep an eye on the real estate prices.

NOC from the Government- Before you begin the construction of your office space, obtaining a No Objection Certificate from the government is crucial. It majorly includes many factors to get checked at different levels of the government.

Construction- Once the permissions are availed, construction needs to begin under the supervision of an architect or a contractor. So learn something about the contractors in the region.

Recognition & Affiliation- After the structure is ready, one has to apply for recognition from the Department of Education and Municipality Corporation, followed by affiliation from CBSE or other boards.

How to launch and Promote your School- Everything is on your plate now, which implies it is finally time to launch your school and promote it. Plan it wisely and in time as it is crucial and will decide the future of your school.

All these steps should be strictly followed to have a grand start to your school business.

How The India Watch can Help?

The India Watch is an India-based market research and feasibility study consultant.

For any requirement related to business research, market study, or feasibility study, feel free to drop us a mail at info@theindiawatch.com ·

Prepare feasibility analysis for new schools, colleges, online start-ups, and academic institutions.

· Prepare market research studies for the educational sector. · Offer business intelligence, industry insights, and market research to investors, PE companies, VCs planning to invest in educational enterprises. · Work on business plans, investor presentations, corporate decks, etc.

· Offer Indian market entry services tailor-made for International universities and institutions planning to enter the Indian market.

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