How to start a School ERP Business?
School Management is no longer the same. Teachers need not spend their time keeping manual records of absentees. Students need not worry about fee procedures. The process becomes simpler than before. Managing a school is complex in its own terms. We will need a school management software to simplify the process.
SaaS is the best industry to start a business in. There’s been so much growth and it’s continuing to thrive. It’s an industry with high margins, recurring revenue, and a lot of opportunity to provide value at scale. The SaaS model allows you to deliver products and services to consumers, no matter where they are. Your app can have a web based version they can access through their browser, and a mobile app they can download on their phone. SaaS industry has lots of potential and will grow even more in the future.
The Education industry is $100 billion market and the K-12 market is around $52 billion. The market growth of Education Industry, scope of SaaS based software and yearly renewal it is the right place to invest.
1.Purchase or Develop a School ERP
Your first decision has to be: Build or buy? Developing a School ERP is surely time consuming and expensive. It needs a highly dedicated team on its development side and takes nearly or more than year(s) to build a full-fledged ERP. Testing, fixing bugs, continuous updates, new features are other challenges. The good option is to purchase a cost-effective but quality School ERP with white-label option and support. With the white-label provision you can rebrand the product as your own brand and sell as your own product. It is the best option, as you can purchase on low cost, start anytime sooner and make customisations with a minimum cost only when demand arises.
2. Create your own Pricing Model
Per student: Many school management software vendors, scale their pricing models based on the number of students that the program is servicing. This model starts at $1 per student and ranges to $22, sometimes per month and sometimes per year. The average monthly cost per student is $5.94, and the median monthly cost per student is $5.
Per Institution: This is the alternate method of pricing schools. This model starts at $800 to $2500 based on the lower-higher end package opted.
One Time: Sometimes school administrators would prefer to pay entirety of their software up front. Doing so typically costs thousands of dollars, the cheapest of which is run through Roll Call at $4,000. The average one-time cost of school administration software is $3,566.67, whereas the median brings that price up to $4,000.
Charge based on value. If you feel lost, a good way is to calculate value down to the details and charge for it. Think about a tool you like and how much you’d be willing to pay for it and why. Apply that to your own service.
There’s no way around it. School administration software is expensive. Unfortunately, the truth is that it’s more expensive to forgo the software.
3. Start selling in your Schools
Schools have a lot of problems- right from fee collection to student attendance to teacher management, and the list can go on. When you are selling to the school— sell a solution and not just a tool or software or service. Give them a complete solution. Schools typically does not like to use multiple solutions but want one solution that can do it all. Create a powerful online branding and a direct market presence with a killer sales team.
4. Excellent Customer Support
Your customer’s satisfaction should be your number one priority. Because only happy customers will continue to do business with you, stick to your brand, and refer potential customers your way. Follow the best support model based on your market, business plan or product package say phone support, email support, chat support, face-to-face.
5. Customer Relationship Management
Account Manager should make sure the application is configured right as per the institution, teachers are properly trained with using the application and the whole operations are automated through the system. The account manager should also make sure excellent service is given by his support team and everything is going well. It is very important as yearly renewal or customer churn will be completely depended on how well the customer relations and the product service is maintained.