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Like we all know, Starting a private school in Nigeria can be very easy and at the same time very tasking.
There are lots of private nursery and primary schools in Nigeria, but this guide is centered on the best ways and methods to use when starting a private school in Nigeria.
Education is the key to success in life, and for this reason, many parent will ensure that his or children go to school even when they did not have such an opportunity.
Though sending a child through school is not an easy task, from statistic 20% of what an average parent is earning goes to the school fees regardless of feeding, clothing, shelter, e.t.c.
Depending on the number of children you have, you realize that you will be spending a big fat sum of money, and this is where the interest comes in; private nursery and primary school have become the other of the day in Nigeria.
I want to tell that private nursery and primary school is one of the profitable businesses in Nigeria. Let me show you some proofs.
Depending on the school, some private and nursery school charges N7, 000, N30, 000, and N500, 000.
But supposing you own a private nursery and primary school and you have 200 pupils, charging N10, 000 per term as school fees. Per term you realize that you will get 10,000 x 200 = 2,000,000, is that not awesome? And at the end of the term, you wouldn’t even spend up to a million naira.
You can now see it with me that investing in a private nursery and primary school business is a worthwhile investment with decent profit returns in Nigeria.
In this article, I will work you through the whole process and the requirement needed to start up a private nursery and primary school in Nigeria.
The Requirement to Start a Private Nursery and primary school
Listed below are the basic requirements for running a private nursery and primary school in Nigeria;
- Land
- Building
- Class room equipment
- Qualified teachers
- School registration with CAC
Land:
The land is a major factor, you will need land of a minimum of one plot of 120 by 60 to accommodate the school building plus a playground.
Please note it must not be in an isolated area where a parent will not patronize you, remember that due to the inherent risk involved in child’s movement, the parent will prefer a school that is within their home and for easy pick up of their children.
However, depending on your area the price for land will vary, and if you cannot afford a land you can always rent an apartment and use hoping to raise money and build yours later.
Building:
The cost of a building depends on the size and quality of the building you intend to construct. Your Engineer will be able to put you through in this, seat down with him to discuss it properly.
Insist on the good structure because your marketing starts from there. The classrooms should be spacious, at least 3.5m square per child under the age of two, at least 2.5m square per child aged two or at least 2.3m square per child aged three to seven.
Most Nursery and Primary school classrooms used to small and jam-packed. Yours shouldn’t be like that. Water is very essential and you need plenty of it in your school, get borehole that will supply you water at all time.
Classrooms Equipment
Apart from the normal chairs and tables (which you can get Carpenters to do for you at a very reduced price) you also need to equip your classrooms with computer and other learning aids, parents will be happier to pay when they see that your classes are properly equipped.
You need plenty of toys and other gadgets that are used for children’s education and Montessori. You need video and large screen TV in all the classrooms, not to play movies but for playing educational videos and sometimes, cartoon depending on the class and the children’s age.
Buy a school bus if you intend to offer pick and drop which almost compulsory for every school since most parents would demand it. A nice Tokunbo bus goes for about N600, 000. Get decent buses that will speak well of your school, and avoid jam-packing children on a bus.
If one bus isn’t enough bought two, parents are paying you extra for the service, give them the best they deserve. Besides, it’s irritating seeing children packed up on a bus that is not fit for transporting animals let alone human being.
Employ Qualified Teachers
If you are just the proprietor of the nursery and primary school, you do not need any formal qualifications but if you are going to be the school manager you need the minimum of NCE and experience in educational administration
Teachers should have a minimum of NCE and experience in childcare education or play-work. Teachers who are passionate about children are preferred.
td_outlined_btn”>Register Your Private School Business
Like every other business, you need to register your private school business as a sole proprietorship or depending on what you want if there are investors.
Business registration happens to be an essential aspect of business startup owing to the fact that registering a business is the passport to making it a legal entity. Of course, your business in Nigeria has to be registered with the Corporate Affairs Commission (CAC) before you can expect it to operate with limitless potential.
Broadly, CAC is an agency established in 1990 with the aim of registering business names and companies in Nigeria. While CAC has remained operative since its establishment, it is noteworthy that the registration agency maintains physical service outlets (precisely offices) in every of Nigeria’s 36 states including the Federal Capital Territory.
Approach the Corporate Affair Commission of Nigeria to register your name; you may need the service of a Lawyer in this regard.
Once you’ve put all these in place, the next thing is to advertise your private school business and get down to real business.
Functions Performed by the Corporate Affairs Commission
As per the provision of Section 7 of the Companies and Allied Matters Act (CAMA), the Corporate Affairs Commission is vested with the power to carry out the following functions:
- Establishment and maintenance of company office and registry in every of Nigeria’s 36 states wherein such office and registry are well equipped to perform the Commission’s duties, as provided under the Act or any relevant law
- Administration of the Act (CAMA) and the supervision/regulation of company establishment, incorporation, management and winding up
- Registration of Business Names and Incorporated Trustees
- The undertaking of activities considered relevant for the full implementation of CAMA’s provisions
- Providing a broad array of additional services
- The organization and conduct of inquiries into any company actions/relationships provided that such inquiries are in tandem with both public and shareholders’ interests
- Overseeing the initial stage of the accreditation process for authorized professionals and users of the Companies Registry. These professional users are precisely regarded as Chartered Secretaries, Lawyers and Chartered Accountants
- Provision of responses to grievances or questions relating to the services offered by the Commission
- Sale of the Commission’s statutory publications and forms
- Performing an oversight function over companies’ compliance with the provisions of CAMA
Types of Companies Registered by CAC
In tandem with the regulatory authority of CAC, only four types of companies can be established for the conduct of business in Nigeria. Therefore, CAC specializes in the registration of the following company types:
- Public Limited Company (PLC)
- Private Limited Company (LTD)
- Unlimited Companies
- Companies Limited by Guaranty
Finally, the above is all that it takes to start a private nursery and primary school in Nigeria.
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