Hi
I just got back from
While I was there I received a number of calls from prospective clients who wanted to start their own school, and by coincidence in LA. The common thread to holding their formation project back, and for most start-up projects is access to immediate capital to retain professionals to support the project and the hard costs to build the school. Too many times groups will announce their capital campaign needs before they determine what the real capacity is to raise funds in their market. What happens then is a gap between reality and their vision, and more than likely disappointment when the funds needed for the project are not raised.
Today in my eNewsletter I am going to talk about how to develop a Pre-Campaign Capacity Fundraising Study to make sure you know what your community is prepared to donate and to what.
Enjoy the eNewsletter,
Doug Halladay
President and Founder
Halladay Education Group Inc.
www.HalladayEducationGroup.com
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In This Issue
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1. In The News
2. Services Your School Needs
3. Does Size Matter?
4. Products To Invest In To Start And Lead Your School
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1. In The News
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BC Elementary Schools REPORT CARD: Four public schools score a ...
The FSA is the only standardized test in BC elementary schools. Four public schools scored top marks along with numerous independent schools in the latest ...
In addition, in
Aga Khan ends tour of the US; visits Georgia to promote education ...
The Canadian Press –
In a speech Friday at a high school in
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2. Services Your School Needs
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>>> (A) STARTING YOUR OWN SCHOOL
Starting a school can be very challenging and you never have a 2nd chance to make a first impression. This is why you need a firm that has experience starting schools in
1. One-Day Comprehensive Overview Session and Report
2. Formal Feasibility Study
3. Detailed Business Plan Development
4.
6. Ongoing Consulting Services and Retainer
7. Ongoing Management and Operations Services
If you would like more information about my services and range of fees related to help start your school, please call me at 1-604-868-0002, email me at info@halladayeducationgroup.com, or click on the following link to download my brochure outlining services and fees:
http://www.halladayeducationgroup.com/File/Overview_School_Formation_Fees_Services.pdf
>>> (B) STRATEGIC PLANNING
Do you want a plan to improve your school? Then you need a Strategic Plan. I can develop a comprehensive Plan that will build consensus, motivate donors, and define critical priorities and strategies for your Board and Administration to improve your school.
Click on the following link to download my brochure on our Strategic Planning process, or call me at 1-604-868-0002, or email me at info@halladayeducationgroup.com Click on the following link to download my firm’s brochure outlining Strategic Planning services:
http://www.halladayeducationgroup.com/File/heg_strategic_planning_services-1.pdf
>>> (C) BOARD GOVERNANCE WORKSHOPS
Do you want your school or non-profit to have better leadership? If so, my full-day governance workshop and online survey helps your trustees to fine-tune their performance and refocus their mandate. Please email me at info@halladayeducationgroup.com or call us at 604-868-0002 to find out more about how we can help you. Click on the following link to download my brochure
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3. Fund Raising
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Fundraising for the founders of a new school is vital. Without adequate fundraising from the start, the new school will not be able to open. For a new school, startup costs will be an overwhelming focus. Founders will need to raise enough money to pay the:
- Supporting consulting fees;
- Initial administrative salaries during the planning phase;
- Acquiring land and facilities, architect’s fees, renovations, permits, etc.;
- Capital goods, equipment, computers, internet, library resources, and furniture;
- Admissions and marketing expenses;
- Advertising and recruiting faculty;
- Fundraising expenses.
In addition, founders will need to be prepared to continue fundraising once the school is operating. Parents need to understand from the outset that the school needs their generosity beyond tuition to cover the costs of operating a good school. In fact, there is likelihood that there will be a shortfall in the annual budget that will need to be addressed through fundraising.
Basic Principles of Fund Raising
- 1-2% of donors contribute 50%; 8-9% of donors provide 40%; last 90% contribute 10%;
- Asking people for money is the last step in the process…fundraising is 80% cultivation and 20% asking;
- You need to complete a Pre-Campaign Planning Study to know the capacity of your market to give and what gets them excited;
- People give to people;
- You need a sense of urgency;
- The more people that participate, the higher the level of ownership and the more they will want to give to empower the vision;
- Tell stories of what is being accomplished;
- Givers tend to ask two key questions: How was my donation used? What effect did my donation make?
Pre-Campaign Fundraising Capacity Study
It is vital that you educate your community about the fiscal necessity of fundraising. Parents need to know early on that they will be expected to contribute beyond tuition. If not there will be lower fundraising yields and increased parent resentment, and less compulsion to give.
Before you start to develop and implement your fundraising plan and case, you need to spend time determining how much money you will need. When developing an estimate, you need to be realistic and conservative, not counting on promised goods or services until you have them. Unanticipated costs should be budgeted as necessary precaution. The estimate should be detailed as possible to ensure all expenses are determined. The fundraising campaign itself will cost money ‑‑ publications, staffing, and events. A good rule of thumb is that expenses will consume 5% of the fund-raising goal.
Before proceeding with any substantial fundraising campaign, it is critical to assess both the likelihood of obtaining the funding required for success and the strength of the potential campaign leadership. It will identify:
- Gift levels and chart;
- System and approach;
- Timelines;
- Campaign leadership team;
- Gift categories (e.g., naming of buildings)
- Major donors and how much they can give.
The absence of either identifiable funding resources or key leaders will almost certainly cause a campaign to fall short, sometimes substantially of its stated goal. When this happens, the cost in money and momentum to the organization is often great and may not be rekindled. The initial investment of time and money in a Pre-Campaign Fundraising Capacity Study will pay great dividends in the long run. The planning study is the best donor cultivation tool an organization has in its pre-campaign arsenal.
The two main objectives of the pre-campaign planning study are to:
- Assess the financial support available in the community to successfully complete the proposed project and readiness of the steering committee or identified leaders to provide the necessary momentum and infrastructure for the campaign.
We can help YOU start your own school and make it happen! In our free resource, 13 Steps to Starting Your Own School, we provide TIPS and ADVICE on how you can set the foundation to start your own school. To claim your free copy of this incredible resource or order our 15-part mini eCourse on How To Start a School, visit our site right now: http://www.HalladayEducationGroup.com or email us at info@halladayeducationgroup.com
If you would like to comment on this eNewsletter story please click on the following link and add your comments on my blog.
->>> http://halladayeducationgroupinnercircle.blogspot.com/
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4. Products To Invest In To Start And Lead Your School
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Do you want effective tools to help start and manage your school? These 2 products will make a difference.
>> (A). STRATEGIC PLANNING TOOLKIT (#1 BEST SELLER)
Learn How To Develop Your Own Strategic Plan Like An Expert With This Easy To Follow, Step-By-Step, All-In-One Strategic Planning Toolkit and Manual. Get all the details here:
http://www.halladayeducationgroup.com/products/stratgic_planning_toolkit.php
>> (B). WEBINAR SERIES – DISCOVER FROM EXPERTS HOW TO START A SCHOOL (#2 BEST SELLER)
Are you still struggling with starting your School, College, University, or Institute? You are not alone. I share with you how to start a school from the words of those who have been in the trenches and understand how to put a school together efficiently and cost effectively. These include:
1.
2. 9 Secrets To Starting A
3. 8 Golden Rules of Starting a
4. Starting a Successful
5. 10 Steps To A Winning Strategic Plan
6. The Whole Enchilada - All 5 Webinars at 40% Off
Get all the details here:
http://www.halladayeducationgroup.com/products/webinaroverview.php
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To your success,
President and Founder
Halladay Education Group Inc.
www.HalladayEducationGroup.com
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P.S. Do not forget to check out our secure Online Store for ways to invest in improving or starting your own school or non-profit. Here is the link:
--> http://www.halladayeducationgroup.com/products/products.php
