HALLADAY EDUCATION GROUP

HALLADAY EDUCATION GROUP
4316 Arthur Drive, Delta, BC, Canada V4K 2W8
P: 604.868.0002 | E: info@halladayeducationgroup.com


Tuesday, April 7, 2009

School Feasibility Study and Business Plan

Hi Inner Circle member:

Yahoo, we’re finally getting spring weather here in Vancouver. Today, temperatures will reach +70 F. And of course being Canadian, we’re getting ready for a huge hockey game tonight with our Vancouver Canucks hockey team. They’re playing Calgary for first place in their division (with only a handful of games left before the playoffs and first place on the line).

I want to thank all of our HEG Inner Circle members for their confidence in our firm’s services. We’re being retained to provide four different feasibility studies and business plans for new K-12 International Schools and Career Colleges in North America and the Middle East. Who says there’s a recession going on!! It is my believe that if you provide an educational program that is not being provided in a community, parents will find the money to send their children to a school that allow their kids to thrive and reach their potential. I’m living proof of that with both my children attending private schools.

Furthermore, the time is right to launch a career college or offshore accredited international US university. Research confirms that when the economy takes a hit and unemployment rises, they return to college to re-train. Additionally, high school graduates now can’t step right out school and land those $20 and hour jobs at construction sites, so they’re alternative is either McDonalds or finding a career via college training.

Today I want to provide you additional information on the value of allows HEG to perform a feasibility study and business plan before you jump in with both feet and start your school. I always advise clients to avoid the “field of dreams” syndrome…building the school and hoping students show up (although I did like the movie). I think it’s better to make the investment at the beginning and know what market demand is and statistically calculate enrollment against demographics, and then develop the start-up and operation business plan and budget based on hard numbers. This way you have a crystal clear picture of what your vision will cost and what your donors or investors need to contribute to ensure success.

To your success,

Doug Halladay

President
Halladay Education Group Inc.
www.HalladayEducationGroup.com

>> TWITTER: Get my updates by signing in @ www.twitter.com/halladay

>> P.S. Don’t forget to check out our secure Online Store for ways to invest in improving or starting your own school.

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IN THIS ISSUE
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1. In The News

2. Useful Services

3. Feasibility Study and Business Plan

4. Products At Our Online Store

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1. IN THE NEWS
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>> INTERNATIONAL APPLICATIONS UP 4 %
Graduate school applications from foreign students grew 4 percent between 2008 and 2009, with the increase "driven almost entirely" by growth at institutions with the largest numbers of international students enrolled already, according to...

>> PRIVATE SCHOOL ENROLLMENT HOLDS STEADY DESPITE ECONOMY
Bethany Beach Wave - Bethany Beach, DE, USA - While some private schools are busy devising innovative ways to keep enrollment numbers up and funds coming in, private schools on the Lower Shore aren't noticing a decrease in attendance. Part of the reason why, according to Merle Marsh, director of special projects at Worcester Preparatory School in Berlin, is because many schools are trying to ease the financial burden.

>> STUDENTS FLOCKING TO UTAH COMPUTER SCHOOL
Forbes - NY, USA - Enrollment applications have tripled at a school that turns out software developers while traditional liberal-arts colleges are worrying about losing students.
Neumont University of South Jordan offers an intensive 28-month computer-science degree and works closely with major tech companies that hire almost all of its graduates. Tuition isn't cheap - $72,000 for the degree. But the school says it can place graduates almost immediately in jobs at such companies as IBM Corp. and eBay Inc. at salaries averaging $63,000 a year.

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2. USEFUL SERVICES
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(A) STARTING A SCHOOL

Starting a school can be challenging and you never have a second chance to make a first impression. This is why you need a firm that has experience starting schools in USA, Canada, and Internationally.

(B) STRATEGIC PLANNING

We can lead the development of your school’s comprehensive Strategic Plan, which will build consensus, motivate donors, and define critical priorities for your Board and Administration for continued school improvement.

(C) BOARD GOVERNANCE WORKSHOPS

Do you want your school to have the best board possible? Our full-day governance workshop (in combination with our interactive online survey) will fine-tune your board’s performance and focus priorities.

(D) SCHOOL EVALUATION

A school review is critical to knowing if you’re heading in the right direction. As a board member are you confident that you’re making the right decisions? Are you sure that your school is doing the best it can? Get the whole picture with our In-Depth School Performance Review and Action Plan for immediate improvement.

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3. FEASIBILITY STUDY + BUSINESS PLAN
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I’m a strong believer in performing your due diligence when starting a school. I believe that you should develop a school based on facts rather than on gut instincts. Don’t get me wrong, most schools start over a conversation between parents who are either dissatisfied with the present educational options or have an entrepreneurial drive to start a school in their community that is not yet available. That being said, there are a number of qualitative and quantitative survey tools (e.g., phone, mail, online, focus groups) should be utilized to determine the level of demand for the school you envision.

The purpose of the Feasibility Study that we utilize is to provide reliable information that will help answer the following questions:
  • What is the level of demand for the school you envision?
  • Who is the target market?
  • What is the likelihood of parents enrolling their children at your school?
  • How many students will enroll (grade, gender, origin, present school-type)?
  • What will prevent families from enrolling?
  • What level of tuition would they pay?
  • Would they need financial aid?
  • What is the impact of pricing on enrollment and features or benefits to reduce price sensitivity?
  • What is the response to the educational programs?
  • What are the critical milestones?
  • Does the founding group have the capacity to start and/or operate the school?
  • What types of facilities are available and/or needed for the school?
  • What are the financial assumptions and costs to start and/or operate the school?
  • What are the obstacles that need to be overcome to achieve success?
  • What will generate confidence in a brand new, premium priced private school?
  • What are the most effective strategies to promote enrollment?
This process allows HEG to evaluate your project’s capacity for success, markets for enrollment, and ensure clarity in the development of your business plan and start-up preparation. We view the feasibility study like building the foundation of a house; you need to establish all the fundamental pillars before you can commit to putting resources and capital into building the school. We understand that the study and business plan will be the backbone of discussions with your partners and/or investment group and needs to be comprehensive and compelling.

Once you’ve the hard data for projected enrollment, we then develop your business plan, which includes Proformas for start-up budget and five year operational budget. The plan illustrates the opportunity, program requirements, timelines, facility needs, leadership structure, and investment structure. We focus on:
  • Projected resource/facility needs and costs
  • Timelines for each stage of school formation
  • Competitive market analysis to determine demand and niche segment
  • Economic analysis to determine tuition price point
  • Marketing/admissions strategies and positioning
  • Facilities and location for the school
  • Financial and investment framework
  • Initial start-up and five-year operational budget
  • Construction and Renovation Budget
HEG and our experienced team are well suited and experienced to help assess and lead the development of your school. By utilizing our detailed quality controls, it ensures proper planning, development, and operation of your institution, delivery of a world-class curriculum, and assurance that your school will provide sustainable returns.

To find out more about our firm’s school development services, please email HEG at info@halladayeducationgroup.com to discuss your needs or click on the following link: http://bit.ly/Geo2l

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4. PRODUCTS AT OUR ONLINE STORE
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[!FIRST], here are 2 popular Toolkits that will help you to start and/or lead your school more effectively.

(A). STRATEGIC PLANNING TOOLKIT (#1 BEST SELLER)

Learn how to develop your own Strategic Plan with step-by-step instructions contained in our detailed Workbook and Manual, along with $500 worth of bonus CD’s. It’s all there to help you develop your own plan.

(B). START-A-SCHOOL TOOLKIT (#2 BEST SELLER)

Are you still struggling with starting your school? Four experienced school leaders share with you how to start a school from the ground up. You’ll also receive our bonus CD on developing your own strategic plan.

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To your success,

Douglas Halladay
President and Founder

Halladay Education Group Inc.

P: 604.868.0002 / F: 868.472.8737 / Email: info@halladayeducationgroup.com
www.HalladayEducationGroup.com

2 comments:

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    ReplyDelete
  2. You really know your stuff, this is super useful, thank you!

    ReplyDelete