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Setting up a private school teaching business in Nigeria is fast becoming a means to tapping millions from the teeming Nigeria population who are in serious pursuant of knowledge from the nursery, primary and up to the higher institutions level. Across the nation, one can see several educational structures; many of them private; that have been set up to aid our youth in gaining the necessary knowledge to becoming fulfilled in life.
Many entrepreneurs have seen the huge opportunities available in the private school teaching business and have delved into it. Frankly millions of naira can be made from it.
In this write up, I will show you how to start up a private school teaching business in Nigeria from the outset and make a livelihood for yourself. However, we will be treating nursery and primary education only.
Nitty Gritty of Starting Up a Private School Teaching Business In Nigeria
Before I go on, I want to point out some basic facts. The fact that you want to make money from private school teaching in Nigeria doesn’t mean that the quality of your services will or should be poor. Many of the wealthiest men in the country today were taught under mango trees and in uncompleted buildings but have become fulfilled in life. What does this tell us? It just shows that it is the quality of teachers that matters most and not just the structure where the teachings are to take place. High quality teachers should be made available; who take the job serious and are ready to give the students the best knowledge available.
There are two ways of starting a private school teaching:
- The expensive way
- The economical way
The Expensive Way
Starting a private school teaching business the expensive way will undoubtedly fetch more profit but it will be far beyond the reach of the hungry man or graduate just fresh out of the one year NYSC program; even if the prospective person should decide to join forces with 3 or 4 other corp members.
You will need the following on ground to start in an expensive way.
- A plot of land in a rural but well populated area. This should cost about N500, 000 depending on the locale. It’s cheaper than this in some rural areas.
- Fencing of the land which should cost about N500, 000. Again, it could be less than this but is paramount that the land be fenced since children and the underage are the primary concern here.
- The construction of the school building of about 10 classrooms should cost about N1.5 million.
- Painting of the building should cost about N50, 000
- Electrification of the building should cost about N100, 000
- Buying of 10 ceiling fans should cost about N30, 000
- 1 generator set should cost about N70, 000
- 120 desks for about 280 students should cost about N360, 000
- Registration of the school should cost about N100, 000
- 8 desks for teachers should cost about N200, 000
- Furnishing of the proprietors office should cost about N100, 000
- Beautification of the school should cost about N100, 000
- Provision of water should cost about N160, 000
- Miscellaneous should be placed at about N130, 000
The investor should also bear in mind that after the completion of the structure and provision of every necessary amenities, some workers as follows will need to be employed.
- 1 or 2 security guards ( two if you need one for day and another for the night shift)
- 2 non-teaching workers for care-taking and maintenance of the building and premises
- 8 teachers ( 6 for primary and 2 for the nursery sections)
Prospective Profit From The School Per Year
Assuming that the students that enroll in your school year are 240 and each pays N21, 000 then the amount would be:
N21, 000 per student × 240 students = N5, 040, 000
Expected Expenses For 1 Year
- Workers salary could fall within the range of N3, 000, 000 (N3 Million)
- Any other expenses should fall within N200, 000.
This should give total expenses of N3, 200, 000 (N3.2 Million)
Therefore, prospective profit for the year will be:
Earnings of N5, 040, 000 – Expected Expenses of N3, 200, 000 = N1, 840, 000
The prospective profit from this business is about N2 Million from the above estimates.
However you would have noticed that most of the estimates have been placed on the high side. This is deliberate. I don’t just want you to be carried away by the profit margin. Going the expensive way is actually not up to N3 million in expenses. It’s far below that but the above should give the prospective entrepreneur a figure to bear in mind.
Also, the prospective profits is far above the amount stated above and depends on many factors that I will touch before I round up this write up.
The Economical Way
For those who don’t have the money to start up school teaching the big way; especially those just fresh out of the NYSC camp or fresh graduates who have saved up a little fund; going the economical way is the better alternative.
The following will be needed by the investor who wants to go the economical way:
- Renting of either completed or uncompleted building of at least 10 rooms in a rural area for two years at the cost of N36, 000 per room with agreement fee of N15, 000. This will give a total of N51, 000 for each of the rooms.
N51, 000 × 10 rooms = N510, 000. This is only an estimate and could even serve for 2 years in some rural areas.
- 96 desks for about 190 students should cost about N288, 000
- 8 desks for teachers should cost N160, 000
- Registration of school should cost about N100, 000
- Furnishing the proprietors office should cost about N60, 000
- Beautification of the school should cost about N40, 000
- Miscellaneous should cost about N50, 000
The total of all the above should be about N1, 208, 000.
Aside providing the basic amenities and beautifying the school, the investor would need to employ the services of the following:
- 1 or 2 security guards ( 2 if needed for day and night shifts
- 2 non-teaching staff
- 8 teaching staff ( 2 for nursery section and 6 for primary section)
Prospective Earnings From School Fees
- School fees from 192 students:
N21, 000 per student × 192 = N4, 032, 000
Expenses Per Year
- Salaries of workers estimated at N2, 820, 000
- Miscellaneous estimated at N100, 000
Total expenses should be at: N2, 090, 000
Total Profit or Expected Profit is:
Earnings Per Year of N4, 032, 000 – Expenses Per Year of N2, 920, 000 = N1, 112, 000
Again, I have deliberately placed the expenses of starting in the economical way on the high side. If you look closely you will see that starting this way is not even up to half the amount estimated here. School teaching is a good means of living the good and fulfilled life as millions could be made from it annually; and if well done it could grow to become a real life saver for you and your legacy.
Victory Academy: A True Story of School Teaching Business
Before I round up this section, I want to share with you the story of two young men; who are now big men. Actually they are distant relatives of mine and persons I respect and know quite well. They were around me when I was still a young man back then. They are the owners of one of the most reputable and recognized nursery, primary and secondary school in the metropolitan city of Kaduna; Victory Academy in kakuri.
However, the beginning was not that sweet since they started from the very scratch.
These two young men entered Kaduna with barely anything in their pockets; but they were tired of their hometown in Ekpoma since the main preoccupation there was farming; and they were after greener pastures. To them the city of Kaduna offered such greener pastures. When they got there; it was not as they envisaged; especially as they had no college education. They only had their WAEC certificates to boast of; no university or polytechnic degree but man had got to survive.
After passing through hell in the city, they decided to start extra mural classes for those preparing for senior and junior WAEC. From there, it grew and they added nursery and primary section. That is how an extra mural class grew to become one of the largest high schools in Kaduna, the crocodile city.
As I type these words with my HP laptop, Victory Academy owned by these two men who had since added several degrees to their educational qualifications boasts of multi-complex structures and is well recognized all over the nation; especially in Kaduna city. They are multi-millionaires now with other diverse investments especially in real estate and stocks.
Well, the story could be yours also and private school teaching business in Nigeria could give you the same success story. You don’t need all the monies in the world to start but just faith; perseverance and tenacity. Even a university education is not actually necessary.
How To Get Good Results From Private School Teaching
The thing that is uppermost in the minds of most investors that intend going into private school teaching is the fear of not getting enough candidates enrolled in the school. Actually, this should not bring any kind of fear to the prospective investor as I will share some secrets here with you that will guarantee you good results when you do eventually start.
Follow the tips below and you are sure to get good results all things being equal.
This is one way of guaranteeing a steady flow of enrolled students. Carry out your survey of the private schools in the area of the same category and make sure your fees are lower than theirs. Don’t get greedy and inflate your fees even if you happen to have better amenities than the other schools; at least when you are just starting. When you must have proven yourself to the community you can then increase the fees.
- Provide quality education and services
Nothing will attract parents to the school than providing quality education and this comes from not just employing qualified teachers but dedicated teachers as well. When the students in your school are doing well, it wouldn’t take time before other students start flooding your school.
- Provide day care services
Most parents don’t have nannies or a help to cater for the welfare of their children before they return from their jobs. If you offer a day care service, then you can be sure that it will be a boost to enrolled number of students.
- A means of transportation
If you can provide a means of conveying the pupils and students to school and back, then you could increase the amount of students enrolled threefold. I know of an investor in private school teaching that got hundreds of enrolled students just by providing a means of transporting the pupils and students to and fro the school. Parents love this as it saves them lots and lots of stress.
- Build a parent- proprietor relationship
This is perhaps an often neglected area. Even if you have hundreds of students or even a thousand, build a relationship with them. Send them messages and ask after their children and how they feel about the school. Ask for suggestions. These will make them have more faith in the school and cling to you more.
Finally, have faith in God that the business will succeed; faith is the most important factor here.
I do wish you success as you get started but remember to give me a call or better still send a message or email to tell me your success story.
Do have a fulfilled life!