Feasibility Study -1
A Feasibility Study is a critical step in starting a school. Our Feasibility Study will provide an objective analysis to help you determine the need for and viability of your proposed new school. Starting a School is a complex process that requires a comprehensive feasibility study and business plan to ensure success.
Our Feasibility Studies include the following:
|Executive Summary||The executive summary presents succinctly the major findings of the feasibility study.|
|Project Description||A summary of the project as defined for the study helps stakeholders understand the questions and results. The project description provides context for stakeholders who might otherwise be unfamiliar with the ideas for the new school.|
|Competitive Landscape||A market study is conducted to determine demand for the school. How many students are likely to enroll? What would attract parents and students to the school? What would prevent parents and students from considering the school? The analysis of the strengths, weaknesses, opportunities, and threats for the proposed new school helps decision makers focus on the critical issues. The challenges and opportunities are clearly defined|
|Operating Requirements||A comprehensive, impartial analysis of project requirements is essential. What are the essential capacities to start and operate the school? What obstacles need to be overcome to achieve success? Underestimating the necessary resources can cause schools to fail and leave many promises unfulfilled|
|Financial Projections||The financial analysis includes startup and annual operating budgets. These projections can include worst and best case scenarios|
|Recommendations and Findings||This section provides recommendations and findings that are intended to shape the project and enhance success|
All to often people start a school without conducting a feasibility study. The reasons vary from a desire to avoid the cost of the study to a firm belief that the school will be successful. Unfortunately, many of these school startups fail because the feasibility of the project was not thoroughly and objectively studied. To ensure the success of your new school, conduct a feasibility study
New School Feasibility Study
“If you build it, will they come?” What if your guess is wrong, and they don’t? Educare has conducted more new school feasibility studies than any other consulting firm, with a track record proving our methodology and analysis are on target.
Donors want to see the case is clear and compelling. Lenders want a scientific and reliable analysis on which to base risk. We have the experience to walk you through the steps of opening a new school and address donor and lender concerns. With the data and research in hand, you will know whether to reconsider or proceed with the project.
Whether you already have an initial statement of mission and outlined a vision, or communicated to the broader community, we can join you wherever you are in the pre-planning process and help you move forward in a deliberate and organized manner
More than simply a survey, our studies ensure you have a clear vision for the proposed school, have looked at the competition, conducted thorough demographic research, evaluated all potential sources of students and used the best focus group methods and survey research to measure demand. This helps you hear what people really think with a high degree of reliability.
Ultimately a new school needs sufficient funding to be feasible. We answer the funding question with our trademark financial projections, and ultimately our partnership with consulting firms specialized in fund raising. If the conditions are right, we can wrap the enrollment and financial feasibility together, progressing through each phase depending on the outcome of the prior phase.