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The Business Plan: Montessori School

Autor:   •  May 21, 2015  •  Business Plan  •  4,429 Words (18 Pages)  •  1,227 Views

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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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