18-24 months before opening: Determine what kind of school the local market needs. (K-8, 9-12, day, boarding, Montessori, etc.) Ask parents and teachers for their opinions. If you can afford it, hire a marketing company to do a survey. It will be worth it.
Form a Committee
18-24 months: Form a small committee of talented supporters to begin the preliminary work. Include parents with financial, legal, management and building experience. Ask for and get a commitment from each member as this is important work which will demand much of each member's time and energy.
Incorporate
18 months: File incorporation papers with your Secretary of State. The lawyer on your committee should be able to handle this for you. There are costs associated with the filing, but he should donate his legal services to the cause.
Develop A Business Plan
18 months: Develop a business plan. This should be a blue print of how the school is going to operate over its first five years. Always be conservative in your projections. Do not try to do everything in the first five years unless you have been lucky enough to find a donor to fund the program in its entirety.
Develop A Budget
18 months: Develop a budget for 3 years. This is the detailed look at income and expenses. The financial person on your committee should take responsibility for developing this critical document. As always project your assumptions conservatively and factor in wriggle room should things go wrong. And they will! Murphy's Law!
Find A Home
18 months: Locate a facility to house the school or develop building plans if you will be creating your own facility from scratch. Your architect and contractor committee members should spearhead this assignment.
Tax Exempt Status
16 months: Apply for tax exempt 501(c)(3) status from the IRS. Again, your lawyer can handle this application. Submit it as early in the process as you can so that you can begin to solicite tax deductible contributions.
Choose Key Staff Members
16 months: Identify your Head of School and your Business Manager. Conduct your search as widely as possible. Write job descriptions for these and all your staff and faculty positions. You will be looking for self-starters who enjoy building something from scratch.
Once IRS approvals are in place, hire the head and the business manager.
Solicite Contributions
14 months: Secure your initial funding - donors and subscriptions. You will need to plan your campaign carefully so that you build momentum yet are able to keep pace with actual funding needs.
Identify Your Faculty Requirements
14 months: It is critical to attract skilled faculty. Do so by agreeing on competitive compensation. Sell them on the vision of your new school. (The chance to shape something is always appealing!) While it is still over a year until you open, line up as many faculty as you can. Do not leave this important job until the last minute.
Spread The Word
14 months: Advertise for students. Promote the new school through service club presentations and other community groups. Design a Web site and set up a mailing list to keep interested parents and donors in touch with your progress.
Open For Business
9 months: Open the school office and begin admissions interviews and tours of your facilities. January before a fall opening is the latest you can do this.
Orient and Train Your Faculty
one month: Have faculty in place to get school ready for opening. The first year at a new school requires endless meetings and planning sessions for the academic staff. Get your teachers on the job no later than August 1 in order to be prepared for opening day.
Opening Day
Welcome your students! Explore membership in national and state private school associations!
Tips:
- Be conservative in your projections of revenues and expenses even if you have an angel who is paying for everything!
- Make sure real estate agents are aware of the new school. Families moving into the community always ask about schools!
- Submit your school's Web site to me for listing in Private Schools.
- Always plan your facilities with growth and expansion in mind.
