The Business Plan: Montessori School
Autor: Saqibali • May 21, 2015 • Business Plan • 4,429 Words (18 Pages) • 2,041 Views
The Business Plan: Montessori School
Kenyetta Carson
Prof. Womack
ACC 557 - Financial Accounting
Introduction
The project involves establishing a monastery school in the comparatively low developed area starting class form Play Group to Grade II. Target market is children of middle or low income group who do not have access to far located schools. The schools will implement advanced educational techniques at an affordable fee through hiring competent teachers. The schools will be having extensive study material from books to toys for creative study.
For a last couple of years demand for monastery schools has been increased because mostly highly reputed schools have stringent admission criterion what is required to meet by students. Monastery schools train children for such test and student start learning from the very initial stage.
Keeping in view the fast paced life style of cities which is putting economic pressure on parents to work toward achieving and sustaining qualify life standard which enhance the scope of daycare centers or Montessori schools. Further growing population has exhausted the capacity of existing schools which is also an opportunity of this project
The proposed capacity of students is 200. The maximum number of students will be 25-30 students from Playgroup to KG II and 30- 35 students for grade I to II. The proposed building will be acquired on rent having at least 15000 square feet.
As observed, number of competent teachers can be approached around the area at reasonable salaries. As from Playgroup to grade II needs 10 teachers including Principal.
The total project cost for this school is estimated round to USD. 23,477.00. Project will be financed through 86.3% equity and 13.7% debts. The legal business status of this project is proposed as “Private Company”
Chart of Accounts
Accounts of schools are designed and subdivided according nature of accounts which is designed as follows:
Description | Account # |
ASSETS | 010000 |
NON-CURRENT ASSET | 010100 |
Machinery | 010200 |
Office Equipment | 010300 |
Furniture & Fixture | 010400 |
INTENGIBLE ASSETS | 010500 |
Pre-Operational Cost | 010600 |
Training & Legal Cost | 010700 |
CURRENT ASSETS | 010800 |
Accounts receivable | 010900 |
Prepayments | 011000 |
Rent Security (Refundable) | 011100 |
Cash & Bank | 011200 |
SHAREHOLDER’S EQUITY | 020000 |
Paid Up Capital | 010100 |
Retained Earning | 010200 |
OTHER LIABILITES | 010300 |
Long Term Debt | 030400 |
CURRENT LIABILITES | 030500 |
Accounts Payable | 010600 |
Student Security Payable | 030700 |
Revenue | 040000 |
Admission Fee | 040100 |
Tuition Fee | 040200 |
Cost of Services | 050000 |
Faculty Staff Salary | 050100 |
Gross Profit | 050150 |
General, Administration and Selling Expenses | 050200 |
Administration Staff Salary | 050300 |
Building Rent | 050400 |
Electricity Expenses | 050500 |
Water Expense | 050600 |
Gas Expense | 050700 |
Communication Expense | 050800 |
Office Expenses | 050900 |
Entertainment & Event Expense | 051000 |
Professional Fee | 051100 |
Depreciation Expense | 051200 |
Amortization of Pre-Operating Cost | 051300 |
Plantation & Decoration | 051400 |
Medical & First Aid | 051500 |
Amortization of Licensing and Training Cost | 051600 |
Promotional Expenses | 051700 |
Repair & Maintenance | 051800 |
Total Operating Expenses | 051900 |
Operating Income | 052000 |
Earnings before Interest & Tax | 052100 |
Interest | 051300 |
Earning before Tax | 051400 |
Taxes | 051500 |
Net Profit after Tax | 010200 |
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