The phenomenal growth story of India in recent times has been credited to the steady improvement in its education system. And the private sector education system plays a major role in it. Current estimates suggest 29% of the Indian children are privately educated. The private education market is billed to grow to a $40 billion market in the near future.

Yet, a lot remains to be done. As one report suggests the share of private schools in India is still a low 7%. The huge demand for private education makes for a great business proposition to introduce more private schools in the country. But do you know how to start your own school?

Let's get an overview of school starting procedure:

REGISTRATION

As per government guidelines, the new school opening procedure for a private entity includes setting up a school only as a registered society in accordance with the 'Societies Act 1860' or a public trust under 'Public Trust Act'.

However, you can also register your school as a company under the 'Companies Act 1956'. In this context, you can take franchise of an established company such as Millennium Education Management Private Limited, making it convenient to enter in this business as an investor.

PATTERN OF SCHOOL

Before you know how to start your own school, decide if you want a pre-school or a KG-12 pattern for your school. Also, finalize the particular curriculum and board to affiliate your school. Plan your investment and profits in this business with a 10-year period in mind.

FORMATION OF MANAGING COMMITTEE

Form a managing committee for your school which includes experts from diverse backgrounds such as education, legal, marketing and accounting making the all-around management of your school easier.

GETTING DUE CLEARENCES

The new school opening procedure requires you to get the 'No Objection Certificate' for the land for your school and other basic amenities like water and electricity. In case you are setting up a primary school, a ‘No Objection Certificate' from the Municipality would be sufficient but for a secondary or senior secondary school, you need permission from the Department of Education.

SELECTION OF BOARD

You need to get your school affiliated to CBSE or CICSE board, and in order to do that, you need to comply with the certain new school opening procedure laid down by them.

These guidelines are generally related to details of sale and purchase of land, construction of the school building, clearance certificates for water and hygiene, auditor's statements and information about the members of the governing body.

To inquire how to start your own school and get great returns, get in touch with MEMPL for starting a private school.