When talking about a profitable business to start in Nigeria, Nursery and Primary School should be considered. There are thousands of nursery and primary schools in Nigeria, and there is still enough space for investors and entrepreneurs to take part in it.
If you are looking for a detailed guide and cost of starting a nursery and primary school in Nigeria, here on this article we will give out the necessary information.
As the population of Nigeria is increasing rapidly so also the number of children going to schools are increasing rapidly, Hence, parents are eager to enrol their children to schools every year.
Parents choice varies while choosing schools for their children, Some prefer schools in neighbourhood they live in, while others will go for prestigious names with good reputations. School is a business, So therefore, it is very profitable in Nigeria.
Nursery and primary school business in Nigeria has become more lucrative these days than ever before, due to the number of children increasing everyday, That is why there is need for nursery and primary schools to cater for them. In the present future, there will be need for more and more schools because the already existing schools isn’t yet enough.
Before we go into detailed guide on how to start nursery and primary school business, you must note that; standard schools matters alot. So before getting started, make sure that your school is established to the required standard.
Starting A Nursery And Primary School In Nigeria
Now with our emphasis, you can see that nursery and primary school business is worth investing in, with good profits.
Here are step by step guide on how to start a nursery and primary school business in Nigeria:
1. Business Plan
Your business plan for school establishment is the first consideration. The business plan consists of basic literacy, plans, and strategies that will assist you with all the needed ideas to start a successful Nursery and Primary School business and also help you in raising capital from bank and other investors for your school business.
One good thing about having a comprehensive business plan is that, it teaches you to go in line with your strategies and how to run your school business successfully.
The business planning also consists of location planning, cost plan, financial planning and marketing plans.
2. Buy A Land Or Rent A Space
Buy a land for establishing your school or you can rent a good and accomodable space to fit in school criterias. The prices of landed properties varies from place to place, that is to say that; location determines the prices of land.
You should consider the environment before buying a land or renting a space, avoid isolated areas where people are not living, because no parents would want to patronize you in such lonely area.
Parents or guidance often prefer a school within home and within people’s reach and for easy pick up of their children, This is due to the inherent risk involved in child’s movement.
The next step in setting up a nursery and primary school is the construction and decoration. The cost of building depends on the size and quality of the building you intends to construct. You need to discuss with your engineer to put you through in this.
Good constructions and structure should be your perspective because your marketing starts here. The decoration and construction should be made in the sense that the classroom would be spacious to contain and accomodate the children (pupils).
Many Nursery and Primary School classrooms in Nigeria used to be jam-packed and small, But ensure your own will be unique.
4. Purchase Class Equipments
You also need to equip your classrooms with computers, chairs, tables and other learning aids which will encourage parents to send their children/wards to your school.
Purchase gadgets and educational toys that is used for montessori and children’s education. If possible, get videos and large screen TV with sole aim of playing educational videos and cartoons depending on the children’s age and class (although not compulsory).
5. Get A School Bus
Purchase a school bus if you intend to offer pick and drop which almost compulsory for every school since most parents would ask for it. A good looking bus should be bought which will speak great of your school.
Terms and conditions with cautions should be given to any driver who will be in charge of the bus. Give both the children and parents the best they deserve.
6. Registering Your School
Just like every serious businesses requires business registration, so as nursery and primary school establishment requires licence.
Therefore, register your school as a sole proprietorship or depending on what you want it to be like.
Business registration in Nigeria is very simple, You need to approach the Corporate Affairs Commission of Nigeria to register your name.
7. Employ Qualified Teachers
To run a nursery and primary school business in Nigeria, you need to hire good qualified teachers to teach in your school, Since it is a nursery and primary school, you may not need any formal qualifications, But minimum of NCE or those experienced in educational administration is required.
You can as well hire other staffs like security guards, cleaners, receptionists, librarian, secretary, supervisor, accountant, clerk, bus driver etc.
8. Creating Awareness
You have to let people know about your nursery and primary school establishment, You can achieve that by creating a site, printing flyers, radio and TV advertisement just for public to be aware of the quality education and good value you offer in your school.
Requirements And Cost Of Starting A Nursery And Primary School In Nigeria
What is the cost of starting a nursery and primary school in Nigeria? Here are the requirements and how much it will cost to start a nursery and primary school in Nigeria:
1. Land Cost: According to our research, the land cost is between N500,000 And N10,000,000.
2. Renting Cost: Incase there is no much capital to purchase a land, Renting should be considered. The cost for renting varies from N170,000 To N1 Million Naira depending on the location and availability of space.
3. Construction Cost: Construction, decorating or building the school cost about N2 Million Naira to N5 Million Naira.
4. School Equipments Cost: The school standard determines the type of equipments to be bought. The school equipments ranges from N200,000 To N1.5 Million Naira.
5. School Bus Cost: This cost about N700,000 To N3 Million Naira.
6. Teachers Salary: Minimum payment for each teachers is N10,000, You can multiply base on number of teachers.
7. Licenses And Permits: All businesses must be registered with the appropriate authorities, and cost of business license varies according to the business structure. The budget should be around N50,000 to N200,000.
8. Awareness Cost: Money must be budgeted for creating awareness, which will bring pupils to the school. The budget depends on the form of awareness. The awareness cost ranges from N20,000 To N50,000.
In conclusion, You will need a minimum of N3 million to N20 million to start a standard nursery and primary school in Nigeria.