How extensively will it cost to open a school in India?

How extensively will it cost to open a school in India? 

Opening a school in India is much more than setting up an infrastructure and providing an education to the students. The entity needs to get licenses and approvals from relevant authorities. Costing is an important factor that should be considered to start a school. For better allocation of resources and to know how much investment should be made for a specific school facility, cost estimation is important. 

Conducting high-quality research will help you make an informed decision. It tells you whether a specific education program will improve students’ academic outcomes or not. Without accurate measures of the costs of producing these outcomes, you will not be able to accomplish them. Even the best programs and policies to start a school fails if the budgets are inadequate or the implementation is not rigorous. By preparing an estimated budget, existing or future resources should be optimized to ensure the best education facilities for students. 

Cost Estimation for opening a school in India 

The cost depends on many aspects while opening a school in India. Each one of them carries a weightage that influences the functioning of the school. Any difference in these will affect the cost of implementation as well. Some of them are:

• The number of children taught in a year

• Materials, equipment, and facilities provided

• Cost of teacher training provided 

The identification of cost should be based on real-life implementation of the facilities rather than following the standards that create a cash crunch in the future. The size of the school plays a major portion in determining the cost as the level and capacity of educational resources also change with it. Establishing a good school will have implications like money spent on infrastructure, furniture, electronic gadgets, maintenance, faculty, and other requirements. Be ready with a sufficient amount of money to start a school. 

If the plan is to set up a pre-nursery school, the cost will be quite less. Getting the renowned affiliation increases the cost of capital. As per the government guidelines, the management must open private schools in a minimum of two acres of land in rural areas, one-and-half acres in town municipality and panchayat jurisdictions, and a minimum of one acre in the corporation area.

According to the guidelines, the minimum safe deposit should be:

• Rs.1 lakh for primary schools

• Rs. 2 lakh for Kannada medium higher primary schools

• Rs. 5 lakh for English primary schools

• Rs. 3 lakh for higher primary school

• Rs. 10 lakh for English medium higher primary schools 

The deposits are supposed to be kept in a joint account of the government and the school management. It’s important to follow these guidelines while opening a school in India. 

Resource awareness is required for proper implementation to ensure success in opening a school. There are many options that you must consider. If two facilities are providing the same result, then it’s implied that you need to choose the one that is least costly to implement. The demands and costs should be fully anticipated for the effective implementation of adequate resources. It ensures the parents that their children are getting only the best in terms of education. Also, it increases the chances of achieving the desired results for students.

How to start a school with effective cost allocation of the facilities? 

Every authority aims to set up the affiliated school as it helps to gain recognition and ensures the best education to the children. When it comes to starting an affiliated school, the cost will be comparatively more than non-affiliated schools. To make sure that a significant investment is being made in each facility, ShriEducare offers the best guidance. We prepare a crucial business plan for the successful execution and completion of the school project. Our proactive experts guide the clients to take their aim of opening a school to new heights. We help you provide the proper estimate to start a school. Here is the list of how much each facility may cost you: 

• Land

If a Minimum of 5 acres of land is required to start a school, teaching 2000 students would cost around 30-35 crores. Add the land cost depending upon your city or location. It’s better to choose a land closer to the city rather than far away from the city.

• Site development

This cost is mainly related to the boundary wall, landscape, and outdoor sports of the school. It costs around 2000-2500 per foot. This means it overall averages between Rs. 2-3 crore. 

• Infrastructure

The total built-up area of the school will depend on the capacity of students. To calculate the cost of infrastructure, multiply the total area with the cost of construction. It will provide you the estimated amount. 

• Furniture, fixtures, fittings, books, and other necessary equipment

These cost around 50% of the per sq ft cost of the infrastructure multiplied by the total built-up area. Catering to expenses adds another 30-40% of the cost. On the other hand, Maintenance plus development charges take up another 10%. 

• Professional Faculty fees

A principal of an affiliated school does have a salary between Rs 1 and Rs 2.5 lakh per month. The faculty takes home anything between Rs 15,000 and Rs 60,000 every month. Overall, it could be about Rs 30–50 Lakhs per month. 

• Working Capital

This portion covers the everyday expenses that usually occur in the functioning of a school. It could be considered between Rs 20–75 Lakhs with the provision for the cash loss in the first year of operation.

We hope this information has given you an approximate idea of how much it will cost to start a school. This is an important aspect that affects the future operations of the management. Want to seek professional assistance for opening a school in India? Come to Shri Educare and get your problem solved. Please contact us if you face any queries. We admire your decision to visit our website and spare time for reading this information.