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    2 Replies Latest reply on Jun 4, 2009 1:18 AM by RanksIntl

    I'm starting a school

    rattlerguy Wayfarer
      I would like to start a private school. Would it be better to do non-profit or for profit? If anyone out their has done this or has any advice I would really appreciate it.
        • Re: I'm starting a school
          LUCKIEST Guide
          I'm starting a school, Welcome

          Go to Members page and share some info.

          Tell me more. Who are you?? Where are you?? How soon do you plan on starting this private school??

          Have you developed a Business Plan that I can read??

          LUCKIEST
          • Re: I'm starting a school
            RanksIntl Adventurer
            Hello!

            May I first ask: what inspired you to want to start a private school? That seems like such an interesting avenue to take!

            How far into this are you? Is it just an idea or have you started taking steps to plan? Where are you located?

            The for profit or not for profit question really comes down to you and whoever is looking to enter into this venture with you. There are clearly advantages and disadvantages to both. With a for profit school the owner is the one in control with all that that entails. You are able to choose whatever legal structure that you want to and the parents/ students are essentially your customers. Like with any business you are going to need to properly market and your customers are able to decide whether or not they want your services but in the end everything is up to you.

            With a non profit school(which most private schools are) you are obviously exempt from taxes and you are able to accept contributions which people can use as write-offs but with that you lose control. When you choose this route you are forced to incorporate and parents most times hold shares in the school as well. The number of shareholders and the way that the ownership breaks down is usually based on the number of students.

            Again, this all depends on you. The reasoning behind your starting the school, the amount of control that you want over it, the amount that you are looking to invest into it, etc. If you are looking to go the more conventional route though, a non profit is your best bet.

            Hope this helps! If you have any questions feel free to email me.

            Renee`

            renee.rankine@ranksintl.com