Recently preschool business in India has seen a great boost. The business is quite lucrative in nature and runs at minimum investment.
Preschool business is also known as a nursery in India. You will find many small-scale nurseries in your local area. They normally offer various kinds of services to encourage the parents to join the school.
The purpose of playschool might be various for each parent. Some prefer their children to get an education before they join the school. Some working parents do not get much time to be with children. In such a case, the parent can take their children to the preschool, and go to work without worrying about the child. This enables them to earn while taking care of their toddler.
Today’s preschools are more advanced in nature. They focus on the complete development of the children while taking care of their needs. Many advanced programs are run in the playschool to train the children to prepare for future challenges.
The activities are designed to educate, develop self-learning habit, effective communication, and building a creative mindset to solve day-to-day problems. Also, they take care of the fun activities to engage the children in the preschool environment.
Preschool Business Business Plan – Step by Step Procedure
Now you might think the business looks interesting and comfortable to earn a good profit. Right?
Don’t get trapped into the lucrative nature of the business, because the preschool business has its own challenges. If you don’t prepare for those challenges, then you might fail in running a successful business in the city.
Here is the procedure you have to follow to start the preschool business in your area.
1. Create a business plan
Start creating a reliable business plan to understand the need for this business. The plan will help you to arrange the required capital for running a successful business for a long period of time. Even when things are not going well as per the plan you can still sustain.
The cash in the bank runs the business so you need to plan it accordingly. Note down each and every point that you require to manage the preschool business and ahead to your plan.
Things to Consider before Starting Preschool Business
– The place of the preschool.
– The interior of the room.
– Naming the school.
– Note how many people you require to manage the children.
– Healthcare facility.
– Fees for your preschool.
– Education material.
– Daycare expense.
– Cost of food if any.
– Training Sessions.
– Equipment required for the facility.
– Marketing expense.
– Expected revenue per month.
– Emergency Service.
– Business Registration.
– Approval from the local government for starting the preschool business in the area.
– Funds required for renting, leasing, vehicles, salaries, equipment, etc
– Unexpected Expense if any.
These are some of the points that you need to consider in your business plan. There may be many more that you will encounter as you move ahead. The proper business helps you to mitigate unexpected events. These events can break down the complete business structure of your playschool.
Approval of the government and registration of the business is an essential part of the starting business. Do not get into the unauthorized business structure to avoid any bad circumstance.
2. Get Trained
If you are new to the teaching profession, then it is advised to get a diploma or a certificate in the preschool teacher education program, which will help you to have a better and clear understanding of the setup and also help you to recruit staff or train them.
3. Name Your Preschool
It is extremely important to choose a catchy and relatable name for your preschool business. In addition, check whether the relevant domain name is available or not. You can check the availability of your desired domain name below;
4. Registrations & Licenses Required for Starting Preschool Business
Once you complete the business plan, the next step is the registration of your business. Reach the business registration firm to get the information. Apply for the company registration process. Ask them to provide complete details about the law in the city.
The state government has a law for starting the Private School business under the “Private School Education Acts”. The authority regulates the local education firm in the state.
Hire a consultant or an advocate to understand the law before applying. It will take a few weeks to complete the registration process. You will receive the license from the government after a successful registration. Meanwhile, you can work on the other aspect of the business and start executing your plan.
5. Arranging Capital for Preschool Business
You will require a reasonable amount of capital to run the business for a long period of time. The future trend will not be certain, so you must have sufficient funds to run the business effectively. Open a business bank account.
Calculate the expected monthly expense. See how many funds you can arrange to run the internal activity smoothly. It is advisable that you must have a minimum of 2 years of funding in hand. It will allow you to avoid any circumstance that will lead to chaos in the business.
A positive bank balance will encourage you to focus on business structure improvement. You can do more to serve better to your client. Having a credit card always comes in handy in a short-term payment crisis.
6. Choosing Location for Starting Preschool Business
Location plays a big role in the success of the preschool business. You need to understand your target audience before starting the business. See what kind of families would prefer to send their children to the preschool.
Conservative families with an old mindset might not prefer to send their children to the preschool for education.
Also, the cost of the preschool is the additional expense that the family has to bear. People start preschool in the area where the population of low-income is very high. Generally, people leave in the area will not have a basic education. Aligning people to send the children to preschool will be very difficult in such a scenario.
Getting new clients at your preschool will be the biggest challenge. The selection of the location is very important when it comes to starting the preschool business. The best place will be private school or popular education institute. You will see the ecosystem is established in this area.
7. Training Module for Starting Preschool
This is another most important factor in running the successful preschool business. Parents send their children to preschool to get the education that will help them to solve future problems. They pay you to teach their children various good things. Educate children about the basic requirement to become successful in life.
Developing the creative mindset, problem-solving skill, building a structure, managing personal life, maths, science are some of the features will consider in the training. Your training module should have information that will enroll the parent to send their children to the preschool. It will allow you to contribute to building their career.
However, the presentation of the training service is one part of the education plan. You also have to focus on delivering the result. The parent should see an improvement in their children’s behavior. The children should start behaving smartly and taking the right decision in various situations.
8. Investment Required for Starting a Preschool in India
Though the cost of starting a preschool will largely depend on the capacity of student you want to cater, an investment of around 5 – 10 Lacs Rupees you must be prepared to invest. In addition to this minimum of 1000 Sq. ft of floor area is a must in starting even a basic preschool in India
Recommended Tools for Startups
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.