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Education Business Plan

In: Business and Management

Submitted By Isabell98
Words 6972
Pages 28
Brilliant Minds Academy, LLC
Business Plan

Name, CEO Name, CFO
Name, COO Name, CMO
Address of School

Confidentiality Agreement

The undersigned reader acknowledges that the information provided by Brilliant Minds Academy, LLC staff in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of Brilliant Minds Academy, LLC. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means, and that any disclosure or use of same by reader may cause serious harm or damage to Brilliant Minds Academy, LLC. Upon request, this document is to be immediately returned.

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Signature

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Name (typed or printed)

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Date
Table of Contents
I. Table of Contents 3
II. Executive Summary 4
III. Company Description 6 IV. Marketing Plan 8
V. Operational Plan…………………………………………………………………………… 22
VI. Financial Plan 32
VII. Exit Strategy 39
VIII. Appendices & References 41

Executive Summary
Brilliant Minds Academy, LLC (BMA) will be a private school that offers group tutoring, individual tutoring, and a student supply store. BMA is scheduled to open on August 13th, 2012 at 113 Cumberland Avenue in Madison, Tennessee. The school and tutoring programs are on a year round schedule where the classes will meet for 45 days and break for 15 days. The owners chose a year round schedule so students have a more cohesive learning environment than the traditional 3 month summer break schedule.

The Brilliant Minds Academy owners are [Names of everyone in your group]. These entrepreneurs have accounting, management, marketing, and technology backgrounds. Cinnamon Turner is the Chief Executive Officer, Rachel Blank is the Chief Operating Officer, Cynthia Buntin is the Chief Financial Officer, and Jonathon Ray is the Chief Marketing Officer. Brilliant Minds Academy is operating as a Limited Liability Corporation so that the owners have a set amount invested in the company. Each owner invested $100,000 for start up expenses.

The owners took this risk because private schools are in a long-lasting industry, which has been around in middle Tennessee since the 1800s (The Webb School, 2009). Due to the continuous failing grades of many Metro Nashville Public School students (TN Department of Education, 2010), parents choose other educational options for their children. BMA surveyed parents in the Nashville school system (Appendix A), and the results show that parents send their children to private schools for more individualized attention and college preparation. Therefore, BMA’s goal is to have less than a 15:1 student/teacher ratio with a college preparation focus.

BMA focuses its marketing efforts in the community by offering open houses, marketing to community centers and local elementary school guidance counselors. The goal is to have fifty seventh grade students and fifty eighth grade students when the door opens in August 2012. BMA will add a grade level each year up to the twelfth grade and expects to add fifty students per year.
BMA charges $7,200 for tuition each academic year per child. Parents have the option of paying $600 a month instead of paying the full amount at one time. While tuition is the main source of revenue, the tutoring and student supply store is an added revenue stream. Below is a summary of the combined sources of revenue for the first five years.

| 2012 | 2013 | 2014 | 2015 | 2016 | Gross Revenue | $1.36 M | $1.88M | $2.46M | $3.09M | $3.80M | Expenses | $.9 M | $1.19 M | $1.35M | $1.53M | $1.71M | Gross Profit | $1.25 M | $1.75 M | $2.29M | $2.88M | $3.53M | Net Income | $0.22M | $0.41 M | $0.69M | $1.01M | $1.37M |

BMA will have a net income of over 1 million dollars by 2015. Due to the constant streams of income, the company should see a steady positive cash flow and a high current ratio. Brilliant Minds Academy plans on increasing rental space throughout the years to accommodate for the increase in students.

Brilliant Minds Academy plans to be the top choice for parents seeking college preparation for their children. Therefore, BMA will seek accreditation from the Southern Association of Colleges and Schools (SACS), and expects the process to take around two years (Commission on Colleges, 2010). Since the Metropolitan Nashville Public School system has a higher percentage of minority students (TN Department of Education, 2010); BMA’s student population will likely have a higher percentage of minority students. So that the community will know Brilliant Minds Academy as an industry leader in private education, the academic and college preparatory emphasis will focus on math, science, and technology.
Company Description
Brilliant Minds Academy is a technology-based private school in Madison, Tennessee for students who like to be challenged in mathematics and science. Parents have many opportunities to make sure that their child has individualized attention and college preparation by being able to enroll them in group and individual tutoring. The tutoring services are not just available for BMA students, but for students in the Davidson County area.
The mission of Brilliant Minds Academy is to be the Nashville Metropolitan leader in affordable, quality private education with a specialty in technology, math, and science. BMA stands on an individuality principle which focuses on each student’s unique skills and interests. Our goal is to help develop these talents in order for every student to have the ability to make it to college.

Short Term Goals (Within the next 12 months) a. Begin school year on August 13th, 2012 b. Establish accreditation with the proper sources for operation of a private school within the Nashville TN market before the 2013-2014 school year c. Establish class sizes of approximately 10 to 14 students per teacher. d. Establish a trade brand and ensure that all legal copy rights and trademarks are protected within the next 3 months. e. Invest in local marketing tools over the next 8 months, such as social media, direct mail, radio, print and billboards. This will get our brand name in the public arena.

Long Term Goals (within the next 3-5 years) a. Add 50 students each year from 2013-2016 b. Expand by one grade each school year, to achieve a middle school to high school academic student body c. Gain SACS accreditation (Commission on Colleges, 2010)

Our target market consists of middle-class parents with children entering the 7th or 8th. Due to the increase in crimes in the Metro Nashville Public School system, these parents will seek to have a school which focuses on safety for their children. Most of the parents will probably have some college experience or understands the importance of sending their children to college. They will appreciate the emphasis on college preparation classes and the individual attention given to each child. Marketing will be targeted to the minority communities due to the higher percentage of minorities in the MNPS System (TN Department of Education, 2010).
Marketing Plan Strengths * Highly Skilled Teachers * Affordable Tuition (compared to other private schools in the surrounding areas) * Electronic text books & curriculum * New updated technology * Safe Environment * Student/Teacher Ratio 15:1 * Curriculum that specializes in Math and Science * After School Tutoring Program * On the bus line | Weaknesses * Lack of funding for extracurricular activities * Understaffing of teachers for extracurricular activities * Lack of Transportation: Parents are required to drop off and pick up their children. | Opportunities * Disciplined and determined students: This will lead to the school receiving recognition for high test scores. * Minority based school: Competitive niche based on the fact that there is not a minority based private high school in Nashville. * Innovative Programs: Programs developed to best suit the student. | Threats * Competition with other private schools that have been in existence for many years and have a great academic reputation * Admissions Test: This will refuse some students of enrollment based on qualifications |

Brilliant Minds Academy realizes the on-going need to do a SWOT analysis and strategic plans. This allows us to analyze our strong areas and our opportunities for improvement.

While conducting the SWOT analysis, BMA discovered a gap in the private school sector. Many private schools focus on religion and one or two aspects of science or math, many overlook the advances in technology and how they can be used in an instructional environment. Through market surveys, we found how technology can be used in schools as a market niche.

Categories | BMA (Goals) | Davidson Academy | University School | Father Ryan | Grades | 7-8 | K-12 | K-12 | 9-12 | Annual Tuition | $7,200 | $9,975 | $16,450 - $18,340 | $10,855 – $15,330 | Uniqueness | Math & Science | Christian focus | College Prep | Roman Catholic | Minority % | 75% | 11% | 29% | 29% |

Ideal Customer

Our ideal customer is a multi-child house hold with children that are about to enter post primary schooling. The child would be deemed “gifted” in the areas of math, science and or technology. Parents of the child would be middle class parents who worry that their child is not receiving a quality education from a public school and wish for a better safer learning environment for their child. Average house hold income for our ideal customer would allow for payment of a private school.

Market Needs

There is an overwhelming need for private schools in the Nashville-Davidson Metro area for middle class families. Metro schools are vastly over populated and teachers cannot provide the one on one attention needed for children to excel in their academics.

Market Trends

Parents want a safe school for their child to attend that allows for more teacher interaction and one on one face time. Currently there are several schools that bolster lower student to teacher ratio in private schools, but at an adsorbent price. In current economic times our ideal customer is seeking ways to improve their child’s education, while at the same time being able to afford a private school.

Market Description

The ideal customer resides in the Metro area, and they value the advantages that a private education would afford their children. They are often dissatisfied with public education, and wish for better educational opportunities for their children. The ideal customer will have enough disposal able income to send their child to a less expensive private school, and will be able to devote time and attention to their child’s academic needs.

Demographics
Our best customers are in the Metro area with a house hold income of 75,000 to 150,000 annually. They have 1-3 children that are entering, or about to enter, the middle school environment (7th and 8th grade). They tend to be employed full time in a professional area with some flexible time to devote to their children’s studies and personal interests.

www.nashvillechamber.com
The above graph shows the growth of the Nashville population of the last 8 years. This growth shows the need for alternative and private schools such as BMA. With continued growth the number of parents looking to send their children to a private school will also grow. The following graph shows overall population of Nashville Metro market by race as compared to the state of Tennessee and The US population. The charted area demonstrates the need for a private school that focus’ on the minority populations.

Student Enrollment Distribution by Race / Ethnicity
Private School · Grades PK-12563 Students · 46 Teachers · 11.166 Student/Teacher Ratio * 563 Students * 46 Teachers * 11.166 Student/Teacher Ratio * Grades PK-12 * Private School * Church of Christ * Coed * Phone: (615) 356-5600
Ethnicity

Source: Information comes from NCES and Education.com

Charter school
Student Enrollment Distribution by Race / Ethnicity

| Number | Percent | American Indian | 1 | 0.4% | Black | 230 | 90.9% | Asian | 1 | 0.4% | Hispanic | 9 | 3.6% | White | 12 | 4.7% |

Number of Students Per Grade
Source: TN Department of Education, Source: NCES 2009-2010

| | | | | | | | | | | | | | | Public School inside Nashville Metro

| Number | Percent | American Indian | 1 | 0.1% | Black | 229 | 26.5% | Asian | 52 | 6.0% | Hispanic | 366 | 42.4% | White | 215 | 24.9% |
Source: TN Department of Education, Source: NCES 2009-2010

Differentiators from Private Schools

* Focus on Science, Technology and Mathematics * Concentration on Minority Students

Differentiators from Public Schools * Low teacher to student ratio * Safe learning environment * Heightened teacher / parent relationships

Direct Competition

Our most direct competitors are other private schools that boost low student teacher ratios and that focus on a specific religious sect. These schools often get funding from community churches and government organizations. However, we will still be able to compete because we will concentrate on monitory students and not disqualify any child on race, creed, religion or national origin. Table | Competitive Analysis | | | | | | | | | Competitor | Davidson Academy | University School | Father Ryan | Service | | 3 | 2 | 3 | Product | | 2 | 3 | 2 | Price | | 1 | 1 | 1 | Other | | 0 | 0 | 0 | | | | | | Location | | 4 | 3 | 4 | Traffic | | 1 | 1 | 1 | Appearance | 2 | 3 | 4 | Other | | 0 | 0 | 0 | | | | | | Added Value Factor | | | | Experience | 5 | 5 | 5 | Reputation | 5 | 5 | 5 | Image | | 3 | 4 | 3 | Stability | | 4 | 4 | 4 |

Core Strategy

We want to be seen as the top tier in private education for minority children in the areas of Science, Technology and Math for the Nashville Metro area. We want to be viewed as an ethical and tolerant learning center for children and parents to receive a well rounded and holistic educational expertise, based on experience, our reputation and our formula for success.

Positioning Goal

To be seen as the obvious market leader in education in the hard sciences, and to be the choice of schools for parents of minority children within the Nashville Metro market area.

Core Branding Elements

Colors will be blue symbolizes trust, loyalty, wisdom, confidence, intelligence
Yellow is the color of sunshine. It's associated with joy, happiness, intellect, and energy.
The word Excelsior meaning “upwards” along with the wings on the crest shows the students upward progress in school and in their lives.
The cap represents the academia of our school and the sword is the emblem of honor and should incite the bearer to a just and generous pursuit of honor and virtue
Our professionally designed crest will reflect both education and safety and will representative of our stand of excellence.

BMA
EXCELSIOR

Product and Service Innovation

Free offerings for students and parents * Quarterly Newsletter * Parent / teacher meetings sponsored by the school * Parenting Workshops on how to aid in learning

Innovations * Use of technology in classrooms * Paper free class rooms * On line homework help * Phone homework help line * Focus in Mathematics, Sciences and Technologies.

Price Rationale

Our pricing is based on the industry provided data for number of students and square footage per classroom. We will constantly monitor the pricing set by the industry for our region and attempt to remain at or reasonably below the industry standard price, while concentrating on customer service and a holistic learning method.

Marketing Materials

The marketing materials which will support our marketing programs and tactics are presented in the following topics:

Marketing Kit Our marketing kit will include * A letter from the CEO * Our essential difference * Educational process description * A layout of additional services * Pricing strategy * Tri-fold hand informational handout * Plan on how to keep students safe

Every customer will receive a guided tour of the school and have an opportunity to discuss their child’s needs with faculty and staff. The “open house” will also allow us to survey customers on what they liked disliked and what improvements they would like to see in the long and near term.

Web Marketing Strategy

Our web site will be a great competitive advantage, it will allow us to relate images of our school, the educational plan, bios for teachers and staff, and give current and potential customers an overview of the school operations.
We will create a student and parent portal where students and parents can chat with a teacher and parents can keep posted on student progress on grades, test dates and homework that may be due.

We will create blogs with teachers, the CEO and principal so that parents can ask questions that can be fielded by a person that is in charge of how the school is run.

Web Development Milestones

Web Development
Customer Intranet Portal
Establish Blogs
Develop Newsletter

Content of the website will add to the personalized experience for our ideal customer.

Search Engine Strategy

Our SEO strategy is primarily a local one - we will optimize our content using the names of local cities, suburbs and even neighborhoods. We will build pages with specific local content for the homes we have worked in specific target neighborhoods. Our blogs will be a key part of our search strategy with aggressive linking to industry sites and links from all of our key vendor support companies.

Local Search
Internal links will be local in nature - "Nashville" “Metro” “schools” for the anchor text, as opposed to simply "schools" We will build profiles in all local search directories including images of homes.

Social Search
We will build profiles in the social search sites such as local.com, nashvillecitysearch.com in order to promote positive reviews from testimonial customers.

Email Marketing Plan
Our site and our direct mail program will promote our school and how well our students are doing. It will advise customers of upcoming improvements and ideas for future years. We will send out customer and subscriber monthly newsletters.

Data Mining
We will add the use of the “SwiftPage” tool to monitor the responsiveness of our email readers and prepare follow-up based on reader interest.

Social Media Plan
We will employ several blogs as our primary new media tools. We will also post podcast-style interviews with our best customers on a monthly basis.

Social Networking

We will initiate several helpful community features.
We will host an open house forum on line where customers can ask questions about the school and educational model.
We will have quick links to our school website on such sites as face book, where students and parents can like us, and share experiences about the school.
This will allow our customers to network with other students and parents and will allow potential customers to seek out other parents that use our services.

Public Relations

Monthly press announcements to media and contact database
Q and A column in weekly newspapers, Parenting Magazine, Nashville Parent, etc
Quarterly big pitch story

Lead Generation Tracking Plan

We will employ an automatic lead tracking system that IDs each phone call, Web lead, PPC ad, postcard mailing and print ads.

Lead Conversion Plan
Our goal is to convert 10% of all leads that make the initial visit to our office.

Sales Strategy

We will us a marketing company to visit local schools and community centers where our target customer is represented. These marketers will interact with guidance counselors and others that have influence with our ideal customer.
Once a customer is interested in our school they will be invited to the school for a tour and introduction to staff and teachers.
This approach shows that we have a very professional staff and allows our staff to establish a rapport with potential customers.

Sales Process Prospect path * First call: Leads are qualified by marketers * Invited to school for a meet and greet (pre-meeting package sent) * Consult with Principal and finance staff * Proposal of contract * Receive commitment for child to attend school

Transaction
Once customer initiates some form of contract, they receive the contract in an orientation meeting that includes the New Customer Kit and discussion of the entire process, key dates, payment process and additional programs.

Customer Relationships (CRM)

We will be using a CRM through our marketing consultants to track all customer activity, sales opportunities, and marketing follow up campaigns. Our staff will assist parents with each child to be enrolled and enter all data needed for the CRM to be successful.

Loyalty Product/ Service Offerings

We will offer each parent and student a survey to complete at the end of each session. We will also send hand written thank you letters to each prospective client that attends an open house. We will send gift certificates to parents for school supplies whenever the elect to enroll for an additional year. We will create relationships with major retailers in the area, so that parents can take advantage of discounts on school items.

Wow process

We will WOW our customers by * The initial meeting in our offices will set the tone of caring professionalism * Demonstrate the safety factor of our schools to parents * Allow scheduled audits of classes for parents * Send thank you letters to new customers and potential customers * Give individual attention to each customer

Sales Forecast

Most people see school in a traditional way, meaning that students attend for 3 quarters and have the summer quarter for the year off. We intend to have year round schooling, this will allow for more even sales all year round. This will also allow students to retain more of what they have learned, and will allow our sales and marketing teams to market to new customers year round.

Year one projections

Key Marketing Metrics

Marketing Organization

Our marketing organization starts with our VP of marketing. This function is the central hub of all marketing activity and lead funneling. The VP fields all inquiries and assigns leads.
The marketing staff converts leads and determines the scope of the project with project managers and act as single sales contact throughout the enrollment process.

Weekly marketing meetings assess progress on all leads and projects.

Monthly marketing meetings function as training and education on all marketing initiative opportunities.

Organizational Chart
Our VP of Marketing will work with an assistant and act as Sales Manager the staff.
The VP will guide the marketing efforts and monitor lead and conversion activities.

Keys to Success Training Plan

We will conduct monthly, all-hands marketing meetings to go over the key numbers and present all marketing activities. We will report all key numbers to the entire staff by posting them on a white board in our break room and holding monthly all-staff meetings to report key numbers and teach staff the meaning of all the key numbers and reports.

Marketing Department Hierarchy

Operational Plan
The following section will identify the operational plan for Brilliant Minds Academy (BMA). You will find the startup timeline, general operation procedures, human resources, and working capital requirements. Also included in the plan is an outline for space requirements, asset acquisition, as well as an operational workflow outline.
Startup Timeline
Brilliant Minds Academy was established on September 5, 2011.
Brilliant Minds Academy vision was to be an urban, college-prep focused private school that was to dedicate its first year to 7 & 8 graders; with an extensive tutoring program. After the first year, BMA would expand one grade per year to reach 12th grade.
Below, we have provided the renovation timeline to the day school starts, with a Gantt sheet for visual effects.
September 2011 – We begin by doing some research, prior to “breaking ground”: * Avg. Bldg/Utilities/Equipment Costs * Liability Insurance/Permit Cost * Market Research of the area
November 2011 – Develop the plan * Established Business Plan * Pay for any permits necessary
January 2012 – Implement the plan * Look for property * Start advertising/marketing * Announce when school will be open * Contact furniture stores for quotes * Contact Network Administrator to setup cloud computing
March 2012 – Applicants & Hiring * Start taking applicants * Start hiring teachers/administration
June 2012 – Renovation Process * Contractors come in to renovate the building * Building is leased
July 2012 – School is open for registration * Furniture gets moved in for Administration and Classrooms * Admin is open for registration * Students start coming in to register for classes * Teachers start setting up their classrooms
August 13, 2012 – School Begins

General Operating Hours
Brilliant Minds Academy operating hours will be from Monday thru Friday from 8 am to 6 pm. BMA will be a year round school where it will educate for 45 days and have 15 days off. The main focus is to maintain the students’ progress throughout their schooling at BMA, on through their graduation.
Human Resources
BMA will hire their teachers and administration workers while outsourcing maintenance people. Below is our plan for our teachers and administration members:
Principal is responsible for making a budget for the school year. Along with that a principal is also expected to give performance reviews to teachers, run professional development seminars, oversee the cafeteria/custodian staff, attend meetings in the school district, administer state testing to students (with students making good marks), ordering supplies, making inventory lists, and anything else the superintendent thinks of

Assistant Principal will aid the principal in the overall administration of the school. They are primarily responsible for scheduling student classes, ordering textbooks and supplies, and coordinating transportation, custodial, cafeteria, and other support services. They usually handle student discipline and attendance problems, social and recreational programs, and health and safety matters. They also may counsel students on personal, educational, or vocational matters.
Guidance Counselor work with other school professionals to help identify the developmental and learning needs of students. Counselors have to communicate with kids who are just developing physically, mentally, and emotionally. These counselors have to be able to assist in making sure that during this period of time the kids continue to excel in the classes. As the kids head into a higher level of education, guidance counselors focus more on providing information on helping students to choose the best future career/college path.
Administrative Assistant will perform important administrative functions for the school. They handle most of the communications between parents, the community, and teachers and administrators who work at the school. As such, they are required to know details about registering students, immunizations, and bus schedules, for example. They schedule appointments, keep track of students' academic records, and make room assignments for classes. Those who work directly for principals screen inquiries from parents and handle those matters not needing a principal's attention. They may also set a principal's calendar to help set her or his priorities for the day.
BMA will have 8 Full-time Teachers who are responsible for teaching the main subjects such as Math, Science, English, History, etc.
The below human resources will be outsourced:
Custodians are people responsible for the maintenance and care of schools. Daily duties include disposing of trash, vacuuming and mopping common walkways, cleaning and dusting desktops, and cleaning and disinfecting bathrooms, including maintaining bathroom supplies. Additional tasks (which are not necessarily done daily) can include carpet and upholstery cleaning, dusting ceilings and light fixtures, and general maintenance tasks such as replacing burnt-out light bulbs
Maintenance Technician is responsible for the upkeep of the school building. They are generally responsible for such tasks as repairing leaking faucets, cleaning-out clogged drainpipes, installing new locks, and repairing broken glass. In addition to these duties, technicians also repair, plaster, and paint walls and ceilings, diagnose and repair electrical problems, and perform many different types of carpentry work.
Network Administrator will install, configure our cloud computing.
Food Services people will make sure that kids eat a healthy lunch daily. They will also make sure that everything is approved by codes.
Insurance Requirements
BMA will have to incur costs for business liability insurance. The estimated cost for this requirement is $15,000
Operating Capital Requirements
BMA’s cash flow will be more than sufficient to meet all operational responsibilities of the business during the start-up period.
Office Requirements and Asset Acquisitions
Brilliant Minds Academy will lease office space located at:
113 Cumberland Ave
Madison, TN 37115-3329

It is a 2-story office building that is 16,678 SF. For the first year, BMA will lease 5,000 square feet of the property. However, we established a First Right of Refusal clause in our lease in order to expand our school each year.

We were informed by the realtor, that the previous company was a web design company that had to relocate to a larger building. From that added information, we decided to start the leasing process for this building. Since the building was already equipped with the technological necessities BMA needs for classrooms and administration, renovation would be minimal to start the school.
The physical technological services that will need to be updated to accommodate the administration staff (i.e. computers, fax machines, photo copier, and other engineering equipment), as well as classroom needs (i.e. writing boards, desks, overhead projectors) is included in our total capital cost.

This building will be leased at $11,250 per month. Below are the estimated costs associated the renovation/investments:
Office/Classroom Renovations $25,000
Classroom and Admin Equipment $27,000
School Software $10,000
Student Hardware/Software $50,000
Total Renovation/Capital $112,000
The above capital purchases will aesthetically please teachers and students, as well as making classroom/office more efficient in learning and maintaining the school.
Included in the capital cost, BMA will be using private cloud computing. This will allow the school to cut cost of desktops and applications software upgrades/updates, by running them from servers in the ‘private cloud’. This gives the students and teachers the ability to: * Access these applications 24×7 from any device with Internet access * Become device independent (apps are running on servers) thus allowing the purchase of thin clients, netbooks, and other low cost computing devices * Install and manage applications centrally * Slow the replacement cycle (software runs on servers so no need to buy new computers every few years) * Software as a service off-loads the costs of servers and the ongoing cost of maintaining them by an already overburdened tech support staff. * Web-based software gets updated centrally and insures that all students and teachers are using the same version.
Below is the idea of cloud computing:

Operational Workflow
As with any business, the operational workflow for it is quite uniform and simple to follow. The following is a step by step outline of how a school is run:
7a – 8a Administration crew comes in and “open up” the school, and teachers come in to get prepared for the day * Their maybe teachers/students around for early tutoring * Custodial/Food Service will come and do their daily duties
8a – 1055a Teachers and students will be in their respected classes for 55 min each. During this time will be the Admin people will make sure that everything is running smoothly. There will be Teacher: Teacher meetings, Teacher:Student meetings, Student:Admin meetings, etc. If the school is having electronic issues, this will be the time network administration will be notified to come and resolve any issues.
11p – 1225p Lunch
1230p – 255p Teachers and students will be in their respected classes for 55 min each. This will also be time when Admin people will be making sure that everything is running smoothly. There will be Teacher: Teacher meetings, Teacher:Student meetings, Student:Admin meetings, etc. There will be Teacher: Teacher meetings, Teacher:Student meetings, Student:Admin meetings, etc. If the school is having electronic issues, this will be the time network administration will be notified to come and resolve any issues.
3p Students are taking a bus/picked up/walk home from school
3p – 5p Teachers/Student tutoring
4p – 6p The janitorial staff cleaning

These hours are subject to change each year with the addition of new grade levels.

Financial Plans
The BMA Financial Plan provides information on the start-up cost, sales projection, salaries, balance sheet, income statement and statement of cash flows. The start-up cost section list out the cost for renovation, equipment, computer hardware and software, and telecommunications. Revenue from the student’s tuition, group tutoring, individual tutoring, and the school supply store are provided in the sales projection section. Salaries for each board and staff member are listed in this section. The operating expenses are listed in the Income Statement section. The balance sheet section shows an overview of the total assets and liabilities for years 2012-2016. Net cash flow and ending cash balances are compared from 2012-2016 in the statement of cash flows section.
Start-Up Cost * Facilities * The rent cost during the two months of renovation before the first day of business is $11,250. * The renovation cost for the building is $25,000. This cost will include a school sign for the front lawn, painting rooms, creating a gym and cafeteria, and other additional renovation items. * Equipment (School Outfitters, 2011) * Administrative/ Teacher Desk – 13 desk $200 = $2,600 * Administrative/Teacher Chairs – 13 chairs $60 = $780 * Student Desk/Chair (connected) – 100 desk/chairs $60 = $6,000 * Cafeteria Tables – 12 tables $45 = $540 * Cafeteria Chairs – 48 chairs $20 = $960 * Science Lab Tables – 6 tables $200 = $1200 * Science Lab Chairs – 12 chairs $20 = $240 * Technology Lab Tables – 8 tables $170 = $1,360 * Technology Lab Chairs – 16 chairs $20 = $320 * Lockers – (6 in 1) 18 locker fixtures $250 = $4,500 * Classroom Supplies – 8 rooms $500 = $4000 * Computer Hardware/Software * Student Hardware/Software – (iPads (100)/Software) $50,000 * Dell Desktop (Staff) – 12 computers $335.20 = $4,022 * School Software - $10,000 * Telecommunications * Cisco Phones – 12 phones $80 = $960 * Total Start-up Cost $123,270

Sales Projection * The tuition cost for each student is $7,200 a year. In the first school year BMA will have a student body of 100 students that consist of 7th and 8th grade. We will receive payment of $600 a month from each student which will create gross sales of $60,000 for each month. At the end of year 1 our gross sales will be $720,000 and our gross profit for tuition after return and allowances will be $698,400. BMA will gain one grade level and 50 more students for each of the next five years.

* BMA will provide group tutoring sessions after school between the hours of 3:00-6:00 pm. The cost of group tutoring for students is $100 a week which a total of $400 a month. The number of students enrolled in group tutoring will increase each month. * BMA will provide individual tutoring sessions for students that are in need of one on one time with the tutoring staff. Students can receive individual tutoring sessions before school or after school until 6:00 pm. The cost for individual tutoring for each week is $150 which is a total of $600 a month for each student enrolled. The number of students enrolled in individual tutoring will also increase from each month. * BMA will provide students with a school store. Parents, students and staff will have the ability to purchase uniforms, school paraphernalia, school supplies, electronic accessories, snacks, etc. The estimated gross profit after the first month of business is $7,300. At the end of the first year the gross profit from the school store is $98,000. As students continue to need more items throughout the year and the number of students grows, the gross profit for the school store in year five is $205,000. * The total gross profit from tuition, tutoring, and the school store at the end of year 2012 is $1.25M. The increase in students each year will cause an increase in tuition, tutoring and an increase in sales at the school store. The gross profit in year 2016 is $3.48M.

Sales Projection Table | 2012 | 2013 | 2014 | 2015 | 2016 | Tuition | $.70M | $1.05M | $1.40M | $1.75M | $2.10M | Group Tutoring | $.26M | $.33M | $.42M | $.53M | $.67M | Individual Tutoring | $.20M | $.25M | $.31M | $.40M | $.50M | Merchandise Store | $.10M | $.11M | $.13M | $.16M | $.20M | Totals | $1.25M | $1.74M | $2.26M | $2.84M | $3.49M |

Salaries * CEO, COO, CFO, VP of Marketing - $36,000 (each) = $144,000. * Owner’s Draw (after 2nd year) – 2013 $7,000 (each), 2014 $25,000 (each), 2015 $25,000 (each), 2016 $25,000 (each) * Principal - $52,000 Assistant Principal - $44,000 = $96,000 * Guidance Counselor - $30,000 * Administrative Assistant - $18,000 * 8 Full-Time Teacher – (4) $32,000 (4) $40,000. We will add on four additional teachers each year.
Income Statement * BMA will receive professional services from Attorneys, Accountants, Management Consultants, Technology Consultants, Food Services, and Maintenance Services. The total cost for these professional services is $82,500 for the first year and stays at a cost of $80,500 for the remaining four years. * Our marketing and advertising budget is $2,286 each month with a total cost of $27,432 each year. The marketing and advertising budget includes the cost of marketing consultants, brochures, flyers, radio advertising, and online advertising. * The cost to rent the building is $5625 each month. The total rent cost for each year is $67,500. * The insurance cost is a monthly rate of $1,250 which averages out to a total cost of $15,000 per year. * Our telephone service provider is Comcast. We will receive the triple play package that includes cable, phone, and internet for a cost of $200 each month. * The monthly cost of utilities is $754 per month for the first year. The utilities that are included in this cost are electricity, water, and gas.
Balance Sheet | 2012 | 2013 | 2014 | 2015 | 2016 | CurrentAssets | $1.13M | $1.61M | $2.46M | $3.74M | $5.63M | FixedAssets | $.12M | $.12M | $.12M | $.12M | $.11M | CurrentLiabilities | $.07M | $.21M | $.44M | $.78M | $1.24M | Total Assets and Liab. | $1.25M | $1.52M | $2.58M | $3.86M | $5.63M |

Statement of Cash Flows * After the first month, BMA’s total cash from sales is $83,000. At the end of 2012 the total cash from sales will be $1,700,000. And by year 2016 the total cash from sales will reach $3,900,000. * Each owner of BMA will make a capital investment $100,000 = $400,000 * BMA will gain inventory cash disbursement of $7,813 at the end of the first month and $1,094,000 the end of the first year.

* Net Cash Flow * 2012: $.55M * 2013: $.47M * 2014: $.84M * 2015: $1.27M * 2016: $1.80M * Ending Cash Balance * 2012: $1.09M * 2013: $1.57M * 2014: $2.41M * 2015: $3.67M * 2016: $5.47M
Statement of Cash Flows Graph
Exit Strategy
Since many businesses do not make a profit in the first three years, Brilliant Minds Academy owners understand the risks involved in opening a business. Therefore, all owners realize the need for their investment to remain in the company for at least five years. BMA estimates the owners to start receiving a draw in year two and each subsequent year until year five. If an owner decides before five years to withdraw the investment, the owner understands that his or her investment will be worth half of the initial amount and will be paid to the owner over a five to ten month period. In case of death, disability, or retirement before five years, the owner’s estate is still subject to half of the initial investment. Exceptions may be made to pay the portion of the investment back at one time in extreme circumstances.
In five years, BMA is expected to offer educational levels from seventh through twelfth grades with a total enrollment of 300 students. At this time, owners will research management companies to buy out shares of the company. The owners will split the profits and remaining balance in retained earnings proportionally by each owner’s investment amounts.
BMA owners may decide the academy is not doing as well as projected, and decide to stop operations. At that time, the owners will sale any remaining assets and pay off outstanding debts. Any money left over will be split among the owners proportionally to the invested amounts.

Appendices & References
An Actual Operational Plan Sample From A Real Business. (2010). Retrieved September 2011, from The Business Plan Guide: http://www.business-plans-guide.com/operational-plan-sample.html
Clrsserach. (n.d.). clrsserach. Retrieved October 8, 2011, from www.clrsserach.com
Commission on Colleges. (2010). 2010 Principles of Accreditation. Retrieved September 19, 2011, from SACS: http://www.sacscoc.org/pdf/2010principlesofacreditation.pdf
Middle School Textbooks. (n.d.). Retrieved September 2011, from alibris: http://www.alibris.com/books/middle-school-textbooks?cm_sp=navShop-_-texts-buy-_-middleschool
Nashville chamber of commerce. (n.d.). nashvillechamber. Retrieved October 8, 2011, from http://www.nashvillechamber.com/Homepage
Office Cleanning Cost. (2009, January). Retrieved September 2011, from costhelper: http://www.costhelper.com/cost/small-business/office-cleaning.html
School Outfitters. (2011). School Furniture at School Outfitters. Retrieved September 22, 2011, from https://www.schooloutfitters.com/catalog/index
Smitherman, K. (n.d.). The Benefits of Private Education . Retrieved September 2011, from Times Publishing Group, Inc: http://www.tpgonlinedaily.com/index.php?option=com_content&view=article&id=370:the-benefits-of-private-education&catid=29:school-news&Itemid=161
Takahashi, P. (2011, September 14). In turnabout, teachers give students Apples, hope iPads boost test scores. Retrieved September 2011, from Las Vegas Sun: http://www.lasvegassun.com/news/2011/sep/14/turnabout-teachers-give-students-apples-hope-ipads/
The Webb School. (2009). Retrieved September 19, 2011, from http://www.thewebbschool.com/the-school/index.aspx
TN Department of Education. (2010). Retrieved July 15, 2011, from Tennessee Department of Education - Report Card: http://edu.reportcard.state.tn.us/pls/apex/f?p=200:1:2899127978043787::NO

Appendix A
Survey Results
BMA conducted primary research to determine the reason Metropolitan Davidson County parents would send their children to a private school. The results for 25 parents are listed below for the following survey question:
What is the most important reason why you would send your child to a private school versus a public school, if money was not an issue? Parents were able to choose from: Safety | 0% | College Preparation | 36% | Individualized attention | 36% | Graduation Rate | 4% | Better Resources | 24% | I love public schools and I would never send my child to a private school | 0% |

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