Business Plan for Establishing a Private Nursery School

Every serious entrepreneur, before beginning to establish a company, prepares a business plan in which they objectively record all internal and external factors as well as short-term and long-term goals for at least the next three business years. It typically includes elements of marketing, finance, production, human resources, annual financial statements, and others. Due to several years of experience in the field of upbringing and education, they decided to combine this with the acquired knowledge of economics and accounting and chose the preparation of a business plan for establishing a private nursery school as the topic of their diploma thesis. They found that there are relatively few private nursery schools in Slovenia, as only just over 5% of all pre-school children attending nursery schools are enrolled in private institutions.

Problem

Every serious entrepreneur, before beginning to establish a company, prepares a business plan in which they objectively record all internal and external factors as well as short-term and long-term goals for at least the next three business years. It typically includes elements of marketing, finance, production, human resources, annual financial statements, and others. The business plan is intended for a diverse spectrum of people, from company management, employees, bankers, venture capital owners, suppliers, advisers, and experts, which is why it is important that we answer all essential questions and problems in it.

Solution and Method

Due to several years of experience in the field of upbringing and education, they decided to combine this with the acquired knowledge of economics and accounting and chose the preparation of a business plan for establishing a private nursery school as the topic of their diploma thesis. In the last twenty years in Slovenia, we have observed an increase in the percentage of pre-school children's inclusion in educational institutions and establishments, both public and private.

Results

They found that there are relatively few private nursery schools in Slovenia, as only just over 5% of all pre-school children attending nursery schools are enrolled in private institutions. Due to the high demand or insufficient supply of private nursery schools in Slovenia, they decided to prepare a business plan for establishing a private nursery school. When researching the market for private nursery schools in the Podravje region, they found that almost all private nursery schools have fully occupied capacities and waiting lists for admitting children.

In this context, we can see that it is very important for parents to have, in addition to the possibility of a public nursery school with a public curriculum for nursery schools, the option of choosing a private nursery school where they can be offered alternative educational methods, such as Waldorf education, Montessori education, various Christian and other programmes. The main part of the diploma thesis presents a business plan for a specific case of establishing a private nursery school, in which they analysed, compared, and presented data on private educational institutions in the area of the Podravje region.

In the financial part of the business plan, they presented fixed costs, variable costs, and projected revenues. Subsequently, they prepared projections of the most important financial statements, such as the balance sheet and the income statement for the next four business years. In the conclusion of the financial part of the business plan, they demonstrated the long-term successful operation of the private institution through calculations of various accounting indicators of efficiency, profitability, financing, etc.