How to Run Private Schools Profitably
By David Amuwa
On the source of funding, Oyewole explains that money to set up nursery and primary schools could be raised from personal savings like in his own case, assistance from friends, taking soft loans from banks, contribution from co-operative societies, among others.
According to him, a small scale nursery and primary school needs at least two or more teachers for a start and that more and more teachers and non-teaching staff should be recruited as the school expands.
He recommends that the teacher to student ratio should not exceed one to 15 for effective teaching.
He adds that a fast developing area is the best location for setting up a nursery and primary school as developing areas are usually confronted with the problem of availability of public schools, hence, the influx of pupils into private nursery and primary schools in Nigeria.
He counsels that the school should engage in moderate publicity for its growth and popularity. This, according to her, is to ensure patronage from the public because nursery and primary schools without a reasonable number of pupils, say 200 pupils, after three to four years of existence, cannot cope in the face of the challenges in the Nigerian economy, he says.
He adds that programmes like Christmas carol, professional day, end of year party, prize giving day and others serve as avenue to showcase and market the school to the public.
He advises proprietors that the recruitment of competent staff should never be compromised in order to ensure the success of the venture, adding that effective communication between the school and the parents is an essential impetus to boost the growth of the school.
He says that school fees are determined by the prevailing economic condition at a particular time.
He adds that prudence, love for children, transparency, friendliness with people, hard work, effective management and fear of God must be embraced by proprietors to succeed in the venture.
Among the challenges of running nursery and primary schools are the unavailability of funds, delay in payment of fees, unnecessary charges by government, and others. He explains that the challenges are surmountable.
Eleoramo, on the other hand, adds that modern educational facilities are essential for proper training of pupils and such facilities attract higher enrolment of pupils. The school surroundings must be clean and attractive.
He states that in addition to the economic situation, cost and benefit analysis must be properly done to determine appropriate fees.
He adds that there is money in educational investments.
He, however, warns that the love for money should not be the bedrock of setting up a private school.
- Culled From Punch
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