HOW TO MAKE EXTRA MONEY
FROM YOUR SCHOOL
School business is good business, but the reason why many proprietors are not making it in the school business is because they depend solely on the money that comes from the children’s school fees and nothing more. The school business today is quiet competitive with the influx of new proprietors every term and session which has resulted in the presence of at least one school in every two streets and in worse cases directly opposite
each
other. In other words, school owners must learn to make extra income in other
to survive this stiff competition. In a field survey carried out by the edupreneurng, they
discovered three core functions of the school and five attributions which we abbreviated
as ‘3cores 5attribute’’ of the school. From the survey, we saw among other things,
some of the ways via which the school owner can make extra income which can be
used to boost the school income.
1. OPTIMIZE YOUR LAND SPACE
To optimize land space is to use the
school premises, classroom and halls for other daily or weekly activities.
Among the many things that the school land can be used for is: using the
classroom or school hall for evening tutorial classes, dance class venue,
French, adult and musical classes among others. For schools that have large
compounds, such large compounds can be used for event centre for parties
(birthday, naming ceremonies, burials, etc), church crusades and revivals. If
you know that your school compound or hall is big, start telling your parents
that such land space is for rent. Renting hotels and halls are very expensive,
hence renting your school land space or
hall to your students or pupils/students’ parents and others at cheaper rate
will make extra income for you on weekly and or monthly bases. On the other
hand, your school is been advertised indirectly to the party attendants as it
also promote the school. For classes, it is not a must that the school owner
runs the various classes. You can let one of your teachers handle it or out-rightly
give it out to individuals to manage for you while you discuss percentage
sharing.
2.
ENSURE THAT YOUR FOOD SELLERS OR
VENDORS PAY FOR LAND SPACE: Do you know that if your food vendor is to pay five thousand
naira per term, such monies can be used to buy cartons of markers or chalks?
You must learn to harness every business opportunity available in this over
saturated school ownership business, and I tell you, more schools are still
jump starting every session.
3.
PRINT YOUR NOTE BOOKS BY YOURSELF
The idea of printing exercise or note
books is way of making extra income and a form of branding for advertisement
and marketing. The good thing about it, is that you have a ready-made market in
form of your student population. On the other hand, most of the teachers I know
are always complaining about the recent use of footballers, movie actors and
actress on the cover page of books with the removal of multiplication and
arithmetic tables. If the failure of the students is blamed on the school, then
the school must find means of curtailing the sight of the students by check
mating what they see, use at home and school while still building a business
around it to make extra profit. Print your school notes by yourself and make
your school students buy them as a matter of necessity. You can make rules
prohibiting the use of other notes in the school or simply add the cost of the
notes into your school fees and give the books to your pupils every term as
they pay the fees.
4.
BUY SCHOOL CHALK/MARKER IN BULK
It is very important that school
managers or administrators learn to buy chalk or marker in bulk either directly
from the manufacturers or from the whole sellers and
5.
BE THE DISTRIBUTOR
For any school that already has a student
population of up to EIGHTY pupils or more, such a school can liaise with book
publishers to give them the books, sell and return money to them at the end of
the term. With this, you will get the books at cheaper rates and then sell at
the market price.
6.
LET PARENTS FUND SPECIAL PROJECTS:
When the parents of pupils/students in
your school fund special projects, the best thing you can do is to name such
projects after the respective parents. The question should then be, what type
of special projects can parents fund? It must never be sports or its related
activities. It must be purely academic/educational projects. Well, since you
are very interested in your school growth, let’s see if you would go the extra
mile to be the first to put a call across to us to learn what type of academic
projects parents can fund and name after them. Will you be the first to call?
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