According to the Department for Education’s latest statistics on schools, pupils and their characteristics, there are 100 fewer independent schools since a peak of 2,420 in 2011. Ouch.
At The Stickman Consultancy, we don’t like hearing this as it’s our mission to keep schools alive and thriving. We’re interested in helping all schools, but in recent times a lot of our work has focussed on the independent sector. With 100 fewer independent schools across the country, we’re interested in why this is and what lessons can be learned for the schools that we work with.
Reading around the subject, one of the reasons for the fewer number of these schools is rising costs and financial difficulties. At The Stickman Consultancy, we focus on helping schools address this. We do this by providing revenue-focused marketing strategies that optimise a school’s pupil recruitment and retention.
But how does this help solve a school’s potential financial difficulties?
We find that not all schools are aware of the average lifetime value of a pupil at their school, and that they are surprised to hear about the substantial potential revenue this offers. Across a typical 7 year period at an independent school for example, an average lifetime value of a pupil is circa £100,000. This revenue could be the difference between a school closing or staying open.
Now imagine the difference 5 or 10 new pupils would make to a school’s finances…between £500,000 and £1,000,000! AND you can more than double this if you’re an all-through school.
Next, consider what could be achieved at your school with that additional money. The enhanced teaching and learning you could offer to pupils, the additional experiences, the improved facilities. And through this boosted offering, your school’s reputation will build and you’ll then attract MORE pupils. It’s a virtuous circle.
“Each pupil has an average lifetime value of £100,000 across a typical 7 year period.”
And if you need help doing it, simply get in touch! We’re more than happy to explain how our Admissions Audit process helps schools to get results.
So, make sure you keep your school alive and thriving. If you don’t, we will.