A feasibility study is a critical step in starting a school. Our feasibility study will provide an objective analyses to help you determine the need for and viability of your proposed new school. Starting a school is a complex process that requires a comprehensive feasibility study and business plan to ensure success.
Our feasibility studies include the following:
Executive Summary: The executive summary presents succinctly the major findings of the feasibility study.
Project Description: A summary of the project as defined for the study helps stakeholders understand the questions and results. The project description provides context for stakeholders who might otherwise be unfamiliar with the ideas for the new school.
Competitive Landscape: A market study is conducted to determine demand for the school. How many students are likely to enroll? What would attract parents and students to the school? What would prevent parents and students from considering the school? The analysis of the strengths, weaknesses, opportunities, and threats for the proposed new school helps decision makers focus on the critical issues. The challenges and opportunities are clearly defined.
Operating Requirements: A comprehensive, impartial analysis of project requirements is essential. What are the essential capacities to start and operate the school? What obstacles need to be overcome to achieve success? Underestimating the necessary resources can cause schools to fail and leave many promises unfulfilled.
Financial Projections: The financial analysis includes startup and annual operating budgets. These projections can include worst and best case scenarios.
Recommendations and Findings: This section provides recommendations and findings that are intended to shape the project and enhance success.
All to often people start a school without conducting a feasibility study. The reasons vary from a desire to avoid the cost of the study to a firm belief that the school will be successful. Unfortunately, many of these school startups fail because the feasibility of the project was not thoroughly and objectively studied. To ensure the success of your new school, conduct a feasibility study.
For more information about our feasibility studies, contact us.