Alternative Revenue Streams for your School

Alternative Revenue Streams for your School

Starting an entrepreneurship program at your school should be looked at as an investment. No, not the traditional educational investment where the primary return is the enjoyment from the students and the proud looks from parents, but rather a financial investment that will, over time, return profit to the school and help further the growth of the program.

How exactly does this work? Through the student-run business model. A successful entrepreneurship program will yield not just one but multiple student-operated businesses which, because they function as academic “classrooms,” maintain a high profit margin due to low overhead and labor expense. Take a high school coffee bar, for example. With a student population of around 500 students, a coffee bar operating during school hours should be able to bring in $50,000 in gross sales while maintaining a 50% profit margin. This means that year after year, $25,000 can be used to fund the program in order to increase student engagement and the number of student-run businesses.

Over time, these businesses will gross $150,000 or more while maintaining the same profit margin, and now you’ve got recurring revenue to off-set the expense of running the program. Sound like a pipe dream? Check out our program at Cincinnati Hills Christian Academy which operates in this exact manner. Currently, the revenue from the student-run businesses offsets 15% of the total program budget with projections of reaching 25% in the next two years. Even apart from the enrollment boost and student satisfaction the program has added, this alone suggests long-term sustainability.

If you are interested in starting a student-run business at your school, reach out below.

REACH OUT TO LEARN MORE  

Entrepreneurial Mindset Podcast Launched

After the 185^th person asked if I had a podcast, I finally just said, “Yes, yes I do.” And so now I do.

When it comes to ideas and thoughts around entrepreneurship education, let’s just say, “My cup runneth over.” Here’s my promise to listeners: I respect your time and I promise that the material in the podcast is packed with VALUE.

Whether you are a superintendent or head of school, a director of curriculum or of innovation, a classroom teacher or coach, this podcast will dive deeply into the impact teaching the entrepreneurial mindset will have not just on the students at your school but also on your own life. Check out the first four episodes now with a new one every week.

PODCAST

New Podcast on the Entrepreneurial Mindset

❝  

Imagine your culture infused with growth mindset, grit, redefining failure, and opportunity seeking. Imagine your team acting and thinking like entrepreneurs.

Stephen Carter