Wondering about what the business plan for trade schools should look like? Trade schools provide a solid business model and fill a critical niche in the conventional channels of education, particularly for high-school age students in the U.S. For your trade school, will it be a revenue-generating enterprise, or simply an extension of a publicly-funded education system? If the latter, the business plan needs to adopt the format of a 501(c)(3) plan where available funds are shown being applied to run the trade school. If you charge admission or program fees and/or drive revenues back into the operation of the school, then you should use a for-profit model for the business plan. No matter which you choose, consider the following components:
• - Who are the competing trade schools in your region and what do they offer that you cannot, if anything?
• - What is your program's unique specialty?
• - How many teachers and trainers will you need to employ?
• - What amount of funding do you need, if applicable?
• - Is there marketing required to drive enrollments and if so, what methods will you use?
The trade school business plan should outline each of the programs that you offer so that a reader knows what the school looks like from a student's perspective. For example, f you'll have a complete auto shop, describe the different aspects of car repair that a student could learn. This way your reviewers or investment partners will know what sort of program the trade school follows and can imply what the market need and opportunity is. Want help with this document? MasterPlans has worked on not-for-profit and for-profit educational models from coast to coast, including start-up trade schools and documents designed for presentation to a school board. Call today to learn more about this type of plan and our services: 877-453-2011.
