Amalashock
02-16-2011, 01:39 PM
Hello,
A friend and I are starting up an independent educational facility specializing in a specific trade. We are looking to purchase and renovate a building. The business plan is solid, and since its education based, we can adjust tuition to cover our expenses.
The trade we are specializing in is something that IS offered by two universities in the area. However, having been through one of those programs (and receiving my bachelor's), and my friend/partner being a resident/contracted teacher at the other university, both facilities are poor at best, and not up-to-date with industry standards.
We plan to offer a facility that not only the universities would be able to use, but is professionally designed and easily accessible to those who want to learn, not just necessarily someone who is in college going for a degree.
Revenue streams are endless from classes and retail of industry essentials, to celebrity clinics and freelance contracting/room rentals. For what people pay per credit hour at the university, we would be able to charge almost half of that and offer a better facility and overall education. Most importantly, people would be able to take classes to be trade certified, which in this particular field, is more valid than a bachelor's.
I have many questions about financing. How hard is it to get such a substantial loan? I own a car (which is 80% paid off) and bought a house 3 years ago. The money would be used for purchasing equipment and build-out. I have a high credit rating (680-710ish). Any help/questions/comments would be appreciated. Thanks.
PS - As you can tell, I'm not the most business savvy, but this is a chance for me and my partner to fulfill a big void in the midwest while doing what we love to do.
Andrew
A friend and I are starting up an independent educational facility specializing in a specific trade. We are looking to purchase and renovate a building. The business plan is solid, and since its education based, we can adjust tuition to cover our expenses.
The trade we are specializing in is something that IS offered by two universities in the area. However, having been through one of those programs (and receiving my bachelor's), and my friend/partner being a resident/contracted teacher at the other university, both facilities are poor at best, and not up-to-date with industry standards.
We plan to offer a facility that not only the universities would be able to use, but is professionally designed and easily accessible to those who want to learn, not just necessarily someone who is in college going for a degree.
Revenue streams are endless from classes and retail of industry essentials, to celebrity clinics and freelance contracting/room rentals. For what people pay per credit hour at the university, we would be able to charge almost half of that and offer a better facility and overall education. Most importantly, people would be able to take classes to be trade certified, which in this particular field, is more valid than a bachelor's.
I have many questions about financing. How hard is it to get such a substantial loan? I own a car (which is 80% paid off) and bought a house 3 years ago. The money would be used for purchasing equipment and build-out. I have a high credit rating (680-710ish). Any help/questions/comments would be appreciated. Thanks.
PS - As you can tell, I'm not the most business savvy, but this is a chance for me and my partner to fulfill a big void in the midwest while doing what we love to do.
Andrew