The bible college business plan needs to convince a potential investor or loan officer that your campus can operate profitably. Writing about trends in religion and the need for a non-secular alternative is important as legwork in the plan, but ultimately the performance of other religious learning institutions may be your greatest asset. The business plan does need to outline your course schedules, fees and tuition, and key competitive comparables, but having a believable financial model will rise above all. Consider these elements:
• What amount of funding is required for start-up, and how will you allocate this money by category?
• When do you project break-even can be reached?
• Can you show graphically that your cash balance will be sufficient throughout a 5-year period?
• What impact will weaker than anticipated enrollment or revenues have on the model's solvency?
Additional questions that a savvy reader will expect to have answered include comments about other colleges nearby, your intended marketing and recruitment techniques, and the management team or group of principals who will run the school. Any gaps in your team should be identified. The plan also needs to spell out the investor's share in the business or, if you're going for a loan, the exact payback scenario you believe you can maintain. Need help with the model or the market analysis or the plan structure? MasterPlans has worked on dozens of religious education center plans and has a track record of success dating back to 2002. Call today for a free consultation and make your bible college vision a reality.
