7 Points to turn Preschool into a success.
Preschool can be turned into an opportunity.
To do so simply avoiding pitfall won't suffice. We need to have a concrete Business plan: Set goals with time line: Every business plan should have clear set goals along with a timeline preferably with the metrics to evaluate the journey towards the goal. This should include a clear plan in terms of Product development, Target market development, Establishment size scaling up, Avenues of Revenue, etc.
Target audience: This is one of the earliest decisions that any entrepreneur makes. Usually, the idea or the product or the solution which is the seed of the business is in response to the need or problem of a particular segment of the society. However, it pays to give a persona to the target segment and specify the demographics to much as possible. With many tools available it is easy to build it and is free too.
Curriculum: With a wide range of curriculum available from age-old Montessori to the present Bank street or Highscope, Indian preschools normally opt for an eclectic or a mix of features from different curriculum and offer a solution that best fits their target segment. Clamping on the curriculum is the first step in the operations and the rest of the decisions and the actions depend on the curriculum chosen
Licensing: The licensing needs special attention as this is different for different areas especially as the preschool segment falls under the state govt. it pays to actually visit the government office and get the rules and regulations directly from them or through the government website rather than appointing a service agent
Financials: Drawing of financials is the key to setting financial targets and budgeting so it is worth spending some bucks and consulting a professional to draw out the framework of not only the business plan but also to design the financial data framework which ought to be updated meticulously
Location: Though everyone is tempted to set up the business near their respective residences or in a plush area, the only thing that should guide you while choosing your location is the accessibility of the target segment to the school.
Layout and infrastructure plan: This will again depend not only on the curriculum chosen but also on the budget allocation. You not only should have the layout plan ready but also know the best vendors to work with. Remember cheapest is not necessarily always the best. Also look for the samples of past work of the vendors. It pays to do a bit of research.
Recruitment -: The curriculum and the target market will play an important role in designing your team and setting up the criteria. It is advised to create a clear JD and remuneration system as that will reduce the turnover rate. Also, arrange for regular training sessions for both teaching and non-teaching staff as that will not only align the team but also help create a sense of bond and identity.
To sum up, Preschool is indeed an opportunity if only we manage to avoid the common mistakes that threaten to make it into a quicksand pit.
