Why Professional Or Business Schools Are Lucrative
By this, I am not asking you to establish another Lagos Business School but a school to train young people in the professions, like Accountancy, Banking, Marketing and so on. I happen to know that young graduates can teach even those in the professional stages. I agree that you cannot buy experience but at times teaching is more of art than science. Some people just know how to impart knowledge, no matter their age.
So if you are in this class and especially if you are an accountant, I advise you start one school in collaboration with some friends.
Of course, you first have to be chartered to be able to attract students and I expect this to take a year after your NYSC at the most, believing that you would have started during your service year. This idea allows you to finish the two parts in four diets.
That is fair enough for a serious person. And for a person who wants to train accountants, you cannot fall below this standard. If you do not fail any paper the better.
Even if you cannot use this feat to advertise publicly, you can drop it somehow like a joke
and you can be sure it will spread. This idea can take you to great heights if done with all seriousness.
There are examples of people who have done well for themselves through this route. I will not mention names, but in Lagos, Ibadan, Benin and even Akure, they abound.
I must add that this will not do well in small towns where there are not enough workers. Unless the city is really big, I will suggest this business is limited to, state capitals and even at that, not all of them. You should know your area more than I should.
You do not need much capital outlay. You can use a government school because you will be holding classes in the evenings as your students are working class people.
Make sure your first set do very well. With this, you can go to town and make noise about your achievement. You can be sure your students will blow up your competence too. Very soon, their friends will come and you are on.
One aspect of this business I saw some guys doing many years ago. They advertised for those who had filed some papers in the final part of (ICAN) Accountancy and who were passionate about passing.
The course was for a month marathon, day and evening if you could spare the time, but the team of chartered accountants were ready. Apparently, many had to arrange their leave to suit the time and of course, many would just attend for two or three weeks.
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The fees, I have forgotten, but it was big enough and they had students. Both sides smiled at the end of the day. I do not have to tell you that students’ number was limited and the teachers were damn good. You can do such.
I know the case-study paper in Marketing gives people problem, I also know some people who passed with distinction at the first attempt. If you are one of such, you can gather Students with this problem. If you charge 50 students at N5000 each, that is N250000.
MARKETING. You will need handbills to give out at offices, banks and all the places you think they might need your service. Radio advert is very important. Let them publicize it the best way possible. These days the church can help to advertise. Let your fees be reasonably low initially to bring many people. When the result comes out the way you want, you can sing your song and the more they are to sing with you the better.
CAVEAT. Do not miss the first chance. I can advise not to register unserious students for examinations through your outfit.