Governors' role in generating income for schools
Just like every other aspect of school operations, school finances are being deeply affected by the coronavirus crisis. Learn how to help your school generate income and find some potential solutions for raising much-needed funds.
Think strategically about generating income
The governing board's role is to work together with the senior leadership team to develop a coordinated strategy for generating income. You can help the school avoid a scatter-gun approach to income generation, which is both inefficient and ineffective.
Consider all of the factors below when you're creating your strategy to maximise profit and minimise risk.
1. Stay true to your vision and ethos
Think about your school as a business. Your vision and values are your brand. Make sure that any potential partnership aligns with that brand, so you can preserve your school's reputation.
A lot of common sense goes into this. Before you enter into any partnership, make sure you know:
Example: a school didn't do its homework before partnering with a fitness instructor. The fitness instructor put up a banner on the side of the