Questions

How would you make this viable...but first..can a school own and operate a business?

Would like to provide a service to schools where create extracurricular student groups in which the children would start a business and run it and revenue generated from the student business would help provide extra funding for the school.. Can schools own a business.

3answers

This is an interesting question that is pretty loaded with possible results.

If you've got an idea -- that is awesome. It's now all about the execution of that idea.

With regards to your question of, "Can a school own a business" -- I'd recommend if you have an idea that you approach a school that you have a possible relationship with *already* and speaking to them about this model directly.

A business like this is ideal for starting in the "Lean Startup" (take a look at Eric Ries) approach by testing your initial hypothesis (what is that ONE question that would tell you if this would lead to customer #1 or FAIL fast and then pivot)?

This is a great start.

Keep going.

Focus. #deliver

- mike vizdos
www.michaelvizdos.com


Answered 6 years ago

In theory they could own the business as long as the profit of that business were used to further the non-profit work of the school.

The bigger question would be whether the school actually owns the business or whether you as a separate non-profit were operating within the facilities of the school.


Answered 6 years ago

If it's a private school. Yes, it can.

But a public school (read: relies on government funding) is legislatively prohibited from owning a business that may lead to an exploitation of students.

However a course like this will have no problem being run to a private or public school as part of the curriculum. A lot of schools teach something similar in a "Small Business" class where students are to go start a business and the success of the business is their grade. The problem begins if you try to make it extra-curricular. In short, the school will likely not allow it.


Answered 6 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2021 Startups.com LLC. All rights reserved.