You want your school to be a lasting pillar of the community. A place known for quality education that will stand the test of time. But how do you get there? How do you ensure your school is around for generations to come? We can confidently tell you it will take more than just income from tuition. Christian schools need to supplement their earnings with passive income and auxiliary revenue.
What Is Auxiliary Revenue for Christian Schools?
Auxiliary revenue for Christian schools is supplemental or additional income from resources the school provides to students and nonstudents. This can include many kinds of assets. Of course, there are the basics that come to mind when thinking of a school: tutoring programs, sports programs, music lessons, etc. But it can be so much more than that.
Think about the “why” of your school as well as what the community may be lacking. What kind of resources can your school provide that are in tandem with your God-given purpose? Maybe a sports medicine program? Different kinds of camps? A thrift store? Leverage these needs to engage with the community and bring more people on site.
If you want your school to be truly sustainable, you can’t limit income to its main purpose of education.
How Do You Make It Happen?
Having the right personnel to think outside the box and brainstorm ideas for resources as well as put together a plan and execute is crucial to this endeavor. Teachers and other staff have enough on their plate, so this isn’t something you should add to their list of responsibilities. To be done properly, at a level you can be proud of, and profitable, this requires a team that can devote the time, attention, and skillset necessary.
Ideas are dangerous without a plan. The team needs to research what is needed in your market and make a business plan for how each resource will be profitable. A lot of infrastructure and strategy goes into pulling something like this off. Without proper planning, this kind of endeavor could bankrupt the school. Essentially, you’re turning these resources into little, mini businesses. And businesses close/fail all the time.
Asking all the right questions is crucial: Is it feasible to do? Is it the next logical step? Does the school have the resources to pull it off? Because this is not a one-size-fits-all venture, the team’s job is to develop a plan to logically introduce these service extensions and help you launch these individual auxiliary revenue projects.
Get Help from The Champion Group
We love helping Christian schools thrive! As a part of our Services, we can assist your school with Strategic Planning, Operations, and Advancement. All of these services involve getting your finances in order, prolonging school life, and working toward true sustainability. Contact us today to see how we can partner with your school!