Foreign languages want to learn a lot of people. Everyone has their own reasons for this:
- someone buys a house in Europe,
- someone goes to work in another country,
- someone to study
- someone to rest — in all cases, knowledge of the language liberates and simplifies life.
If there is a need to study them, then the business idea of a foreign language school is in demand and profitable.
Steps to turn your vision into reality:
- Obtaining the necessary license;
- Selection of premises (the location should be convenient, transport routes should be varied);
- To equip the school with modern technology and comfortable furniture — everything is only necessary;
- The staff is selected competent and wholly «giving himself» to the work;
- It is necessary to advertise the services for the first time, then organize the work so that people themselves look for your institution.
You need to start realizing your dream with the fact that you already have a developed business plan for a foreign language school, which you will strictly adhere to in the future.
It is easier to implement all plans for any business in cities with a large population:
- there are more firms with decent wages,
- more wealthy and successful people who want to improve their language level themselves,
- and also teach their children without fail.
In small towns and settlements, such training for children and students is more in demand, and one cannot count on high profits. Nevertheless, this is still your income, which will flow into the family budget.
If you choose only one direction — teaching schoolchildren, you can develop a business idea by organizing a summer camp for the whole day. There, according to the program, game language communication will be carried out with the children and colloquial speech will be consolidated. This will also bring in your income.
What foreign language to choose?
Having a detailed business plan for a foreign language school, you need to approve which languages your students will study and determine the age categories. It is no secret that everywhere the most popular language is English, many people want to know German and French, then Italian and Spanish are in demand.
Studying fashionable Japanese and Chinese will have a good effect on the image of your school. In this case, the responsibility is doubled, since the latter are quite complex.
It is necessary to conduct marketing research yourself or your authorized representative, that is, to visit all such centers and find out all the details: how many people attend school, the cost of education in your future competitors, educational methods, reviews of the services provided.
The purpose of such a close study is to find out what you can offer in your school that your competitors do not have — it is easier to find your «chip», which will attract customers to your institution. You need to read about similar institutions abroad and «pick up» some of their ideas.
Current expenses of the school of foreign languages
The business plan of the school of foreign languages provides for the costs that you will incur in the first stage (rounded amounts):
- Rent for the first 2 months — $ 100,000;
- Tax registration and license — $50,000;
- Manuals and textbooks — $25,000;
- Advertising at the start of the project from $25,000.
Only about $200,000.
Before implementing the project of opening a school of foreign languages, it is better to calculate its payback. In order to calculate the payback of your business idea, you can follow this link:
Estimated calculation of the payback of the project
Three groups of 10 listeners in each — about 30 listeners per month. On average, 3 classes are held per week, 12 per month. With an average cost of one lesson — $ 400, we get:
Per month: 10 students x 3 groups x 8 classes x 400 rubles = 144,000 dollars.
After deducting the cost of monthly rent and teachers’ salaries, we get a profit of about 50 thousand dollars.
Taking into account the fact that the initial investment will be about 200 thousand dollars, the payback of the project is 4 months.
Of course, this is an optimistic calculation, unforeseen situations may arise, for example, groups may not be recruited by 10 people. But the income will be, and the constant expansion will soon bring a net profit.