Childhood is the most crucial time in an individual’s life, the building blocks of a person’s personality are set in early childhood. Education, a facility not available for many plays a predominant role in molding a kid’s persona.
If you’re someone who’d like to contribute to the community by helping tons of kids have a quality future, starting a preschool would be a correct option.
Initially, you could start by understanding the needs and wants of your community, people who’d like to enroll their kids in a preschool, how many of them have already done it, and who doesn’t wish to do it and why.
You will also need to look out for local laws and restrictions before starting with this endeavor. Since the pandemic, there will be many limitations in executing the plan however, where there’s a will, there’s a way, right?
Make sure you have ample time to decide on a curriculum, financial resources, and minimal objection to conduct this plan. Finding a clean and easily accessible and visible location for your preschool would also be an added advantage. Once you hire a good staff as well, you’ll be all set to shape the future.
Know About Other Preschools
Before starting up with your own preschool it’s better to have a look at the functioning of the existing preschools in your area. Getting to know more about the pre-existing preschools in your community would help you dodge any obstacles they faced that could torpedo your plans. Try to know the number of preschools functional in your area. Get insights on students that are overlooked eg: kids with disabilities or children from a low-income background.
Be informed about what kind of educational philosophies do these schools inculcate in the young students and what’s the outcome of doing so. Information like budgets and tuition fees, maintenance etc will also be rendered valuable for your preschool.
Sole Proprietorship For Small Preschools
If you’d like to keep things simple for your preschool by a sole proprietorship option ie. you being the only owner depending upon your resources. Choosing this option would be recommended as it is relatively inexpensive and maintenance won’t be a big problem, however, unfortunate activities like debts, damages, or accidents will be the owner’s responsibility to take care of.
Beyond this, being the sole owner will also mean that the preschool’s finances will be under the owner’s care.All said and done, being your own boss paired with shaping the future minds would be a really righteous thing to do.
Protection Of Assets
It is imperative to have your assets protected by creating a limited liability corporation (LLC). When you are hiring employees for your preschool, having an LLC to secure your assets would be a safer option for protecting your financial properties.
Having an LLC would be rendered as a major advantage as it will have your personal assets protected even during the case of a lawsuit.Indeed, an LLC would be a good option however, there is a drawback to it as well. You might have to pay higher taxes to maintain an LLC as compared to a sole proprietorship.
Be Tax Exempted
Government offers support to non-profit schools that are funded by private donors. If you’re looking out to establish a preschool for children with disabilities or kids that aren’t looked upon, being tax exempted by declaring yourself as a non -profit organization.
This will be a huge advantage in the school’s holistic development. Nonprofit schools attract large contributions from people as comopared to for-profit educational organizations since the gifts from such donors are tax-deductible. Filing annual reports about the school’s financial details and activities will be a job that will need supervision, time to time.
Form A Parent Run School
Forming a co-operative school where the parents help in all pof the school’s operations from hiring staff to teaching in the classroom will help you cutdown costs and will be beneficial for the school itself as someone from the community itself will be taking care of the school, lovingly.Connect with the parents and find out if they’re interested in the formation of a co-op preschool.
Find A Preschool Franchise
You could always work on an established model through a school franchise. This will save you the time and efforts of starting you the school right from scratch.There are already tons of preschool franchises available in the market.
Since the existing franchises already have an established brand name and are recognizable, it helps students gain trust and enroll in the school. They also have a template curriculum and business operations already set.If you're opting for the franchises option , be prepared to invest alot of money which will be rendered quite profitable.
Hire A Business Lawyer
Having a business lawyer to work for your finances and deals will definitely reduce your burden and will also help you to make much better informed decisions.The business lawyer can help you decide on the pros and cons on all the preschool business models you look at.
Navigation for licensing requirements will also be an easy task when you’re assisted by a lawyer.Familiarize yourself with the Licensing requirements and laws within your community and state as the perks for preschools vary widely from one place to another.
Conform To Regional Curriculum Standards
Many areas already have regional curriculum standards for early children opting for early education. Such standards are pre-designed for educator’s guidance in the holistic, effective and appropriate developmental education for preschool-aged children. By being familiar with these standards will definitely help you in preparing a robust plan as you build your pre school.
Quality Rating System For The Preschool
Find out the laws concerned about preschool quality rating systems. Be in touch with the local board of education for the same. Participate in QRIS (Quality Rating Improvement Systems) designed for preschools, and meet QRIS standards.
A country like India is in a strong need for quality education and establishing a preschool would be a noble idea. Children, the future of the country have to be moulded right for every citizen to benefit.Having a quality preschool with happy kids shining the name of the school would be enthralling.
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