exploring income generation in schools - sharing good practice

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Read another section of the report:

defining income generation

necessity v distraction

leading from the front

capacity is key

sweating your assets

sharing good practice

Case study

Pershore High School is a Worcestershire based co-educational academy school, with a sixth form. Nine years ago it generated £9,000 from alternative income streams. Today the school’s ‘Trading Arm’ is well on the way to generating over £1,000,000. Russell Dalton, the school’s Finance and Business Director, explains how schools can use the facilities and resources, including knowledge capital to generate income:

•  schools must accept that to be successful there has to be an element of risk taking and investment
• any new venture must be underpinned by a robust business plan allowing the head and school business  manager to analyse whether the ideas will bring the rewards expected and as a prerequisite to secure governor approval
• use existing resources and facilities cleverly. Find out what other venues charge for use of indoor facilities and see if you can be competitive. There are a multitude of clubs and associations who struggle to find venues
• open discussions with a local college about being an ‘outreach’ or an extension of the college for night school, or summer school sessions
• if you are privileged enough to have school kitchens consider taking the catering provision ‘in house’. However, realistically you will only start to realise profits if you begin to provide meals for other schools
• use your highly qualified, multi-skilled and extremely practical workforce by introducing Service Level Agreements (SLA’s) for local schools to provide them with business management, IT support, careers guidance, caretaking provision, marketing support, prospectus photography and design or training. There may need to be some extra investment in up skilling and even enlarging the workforce
• avoid the one-offs such as car boot sales. These should be left to the PTA to organise as they can justify the time spent against the reward received establish an alumni division within the school so as to ask former students to donate funds to the school, even better if this is done via direct debit. Set up a charity to receive it so that you can gain gift aid. By setting up a charitable trust you will stand a better chance of being successful with grant applications.

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