You Can’t Afford to Lose a Student at Your School
Private schools exist to educate students. It’s obvious then that without students, the mission of the school can’t be fulfilled.
As you think about retaining your students and families for another year, have you ever considered the value of the students enrolled at your school?
Let’s consider a parent with a Kindergarten student enrolled in your school. What does this family represent?
- A potential student for your class next year
- A future student for every grade level through your highest grade
- A potential parent and future alumnus to tell others in the community about your school
- More opportunity to accomplish your mission
- An opportunity to make a difference in the life of a child during their key formative years
- An opportunity to gain tuition revenue not only for this year but for the entire span of your school
Obviously, if this student leaves your school, significant revenue will be lost.
Consider the following illustration as it relates to this Kindergarten student.
If tuition is $7,000 at your school then this child’s enrollment will result in $151,044 in tuition revenue (assuming annual 5% increases) from Kindergarten through 12th grade.
This financial impact is significant. If the student leaves after Kindergarten then your school will have lost $144,044 in tuition revenue. If the student leaves after 5th grade, then $94,051 is lost to your school. And, if your tuition is double or triple this illustrated amount, then you can double or triple the revenue lost.
The bottom line is that your current families and students are essential to the mission of your school and to the needed revenue to accomplish this mission. I am not suggesting that when you see students you see dollar signs. Rather, you must do everything you can to re-recruit your families for another year. If they leave, then you will not only have lost a family and a student, you will have lost critical revenue that will be difficult to replace.
The value of a student enrolled at your school is significant. Remember, it is much easier to retain a student and a family than it is to find a brand new one.
This is an important message and illustration to share with all of your faculty and staff. Everyone employed at your school must realize the value of a current student and then do everything they can to re-recruit them back for another year.Google+