Know your competition. In particular, review programs and classes offered by community colleges because, according to trend trackers, they are morphing from university preparatory institutions to exactly what business colleges are offering.
Determine your marketing niche. Use federal occupational outlook statistics to determine which types of programs are projected to grow over the next decade. For instance, criminal justice has become one of the hottest fields of study and it's expected to continue to attract students. Use these trends to determine your course listings.
Capitalize your idea. By its very nature, a business college will need "tools of the trade," so your list of equipment and materials will require a healthy investment of cash. In addition to a traditional laundry list of operating expenses, your school may require everything from a professionally outfitted garage for those studying mechanics to a first-class industrial kitchen for food service programs.
Apply for licenses or charters necessary to open the school, hold classes and meet room occupancy standards as mandated by your local government. You may not be subject to licensing that's as stringent as institutions of higher learning, but one missed license application could shut your doors. Be particularly vigilant about getting the types of licensing other colleges aren't required to have--such as a health certificate for the operation of culinary classes.
All institutions require an operating plan, a mission statement, policies, goals and objectives to keep business colleges running and on target. Included in the college plan are such necessities as the addition of workshops and the expansion of laboratories and classrooms. Many business colleges turn classes into real-world enterprises by opening advanced studies to consumers who wish to get their teeth checked, their car repaired or their hair cut. Building these goals into a business plan can help a bank see that your business college can generate revenues in the future.
Draw up a comprehensive program menu by selecting from popular disciplines, like business systems, business administration, paralegal study, medical assisting, nursing, pharmaceutical technician, criminal justice, office administration, court reporting, medical transcription and more. Launch the school by offering the most popular programs first.
Hire adjunct instructors. Avoid added staffing costs and benefits by hiring full-time professionals for part-time teaching slots. Find professionals by contacting area resources. For example, turn to local police, attorneys and the court system for criminal justice instructors. Consider permanent faculty only after the school is on solid footing.
Launch a website that showcases your programs. Action photos of students working on car engines, learning to give therapeutic massages or taking testimony in court offer browsers a good indication of your mission. Use the website to promote how your college can help people get jobs, in addition to keeping standard information like class descriptions, times, prerequisites, instructor biographies, scholarship leads, fees and registration deadlines.
Establish a scheduled evaluation plan to assess whether your business college is meeting the needs of the community and the students. Track enrollment numbers, flag classes that aren't filling, keep equipment on a regular maintenance schedule and review instructors using student evaluations to stay on top of matters that affect day-to-day operations.
Recruit a board of directors from your area's business community. Students will be training to work for this audience, so having a pulse on trends and emerging job niches can't come from a better place than the movers and shakers doing the hiring.