Are you about starting a CNA school? If YES, here is a detailed sample CNA school business plan template & FREE feasibility report.
Have you ever wondered how those who assist nurses in hospitals get trained? Of course, nurses are not able to handle all the demands of their industry, hence the need for trained professionals to assist nurses so that they can be effective whilst carrying out their duties.
Certified Nursing Assistant positions are occupied by people who want to work as Registered Nurses but haven’t been able to secure admission. They want to gather the necessary experience while trying to pass the required exams to gain admission to nursing schools and even Medical Colleges.
A Sample Certified Nursing Assistant School Business Plan Template
1. Industry Overview
A Certified Nursing Assistant is a member of the healthcare industry and their responsibility is to carry out healthcare jobs as assigned by the trained nurse they are working with. Such jobs could be; bathing a newborn baby, feeding, dressing, helping nurses to hold patients when the need arises, helping nurses and even doctors to organize all they would need to treat a patient et al.
Certified Nursing Assistant (CNA) schools fall under the Community Colleges industry and Community colleges are post-secondary educational institutions offering college transfer courses and programs (including the first two years of college instruction); vocational, technical and semiprofessional occupational programs; and general educational programs.
Community colleges confer associate degrees, certificates or diplomas below the baccalaureate level. Public, private nonprofit and for-profit community colleges are all part of the community colleges industry.
If you are a keen follower of the community colleges industry in the united states, you will agree that the industry has experienced fluctuations over the last five years due to the recession and stagnant growth in federal funding for such schools.
High unemployment has caused individuals to seek out further education, while employers are increasing their training requirements to remain competitive. Going forward, decreasing unemployment rates combined with the increasing tuition of four-year colleges will both boost enrollment in certified nursing assistant (CNA) schools.
Statistics has it that in the United States of America alone, there are about 1,839 registered and licensed community colleges (certified nursing assistant (CNA) schools inclusive) responsible for employing about 669,450 people and the industry rakes in a whooping sum of $66 billion annually.
The industry grew at -0.4 percent annual rate between 2011 and 2016. It is important to state that there are no establishments in this industry that have a lion market share.
A recent report released by IBISWorld shows that the Community Colleges industry operates in a countercyclical manner. The report shows that the industry revenue grew significantly as a result slow economic growth earlier over the five years to 2016, but has suffered subsequently.
Sluggish economic activity helped the industry to grow as the unemployed sought professional training to improve their job prospects. As national unemployment has decreased in recent years, however, so has industry revenue.
The report further stated that in recent years, the restructuring of the US economy has accelerated. Service industry professions are in higher demand than ever, while growth in manufacturing continues to fail to impress. As a result, individuals displaced by major economic change are still retooling their skillset
Due to the fact that it can be somehow stressful to get government accreditation for a standard certified nursing assistant (CNA) school in the United States, it will be safe to say the industry is under saturated.
As a matter of fact, in most countries of the world and even in the United States of America, a host of colleges and schools have come up with training programs to train certified nursing assistants. In recent time in America, almost every state is having training facilities for nurses.
Some of the factors that encourage entrepreneurs to start their own certified nursing assistant (CNA) school despite the fact that the business is challenging is that the business is highly profitable, they can easily get funding and support from government and charity organizations and the business can be started in any part of the world.
Starting a certified nursing assistant school requires professionalism and good grasp of the nursing trade. Besides, you would need to get the required certifications and license and also meet the standard for such business before you can be allowed to start a standard certified nursing assistant school in the United States.
One good thing about certified nursing assistant (CNA) schools is that there is a readily available market for their services because there loads of people out there who want to work as a Registered Nurse and haven’t been able to secure admission but want to gather all the necessary experience while trying to pass the required exams.
2. Executive Summary
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is a registered and accredited certified nursing assistant school that will be located in Chicago – Illinois. We are registered under the United States’ Government.
We are well equipped to train students on administering drugs, bathing a newborn baby, feeding, dressing, helping doctors to hold patient when the need arises, helping doctors to obtain and organize all they would need to treat a patients or carry out surgical operations et al.
We are quite optimistic that our values and quality of service offering will help us drive our certified nursing assistant (CNA) school to enviable heights and also help us attract the number of students that will make the business highly profitable.
We will be dedicated to establishing good business relationships with our students giving them value for their money and reasons why they should continue to recommend their family members and friends to us.
We are in the Community Colleges industry to favorably compete with other leading brands in the United States and in the globe. Our corporate business goal is to be among the top 5 certified nursing assistant (CNA) schools in the United States of America.
As a company, we are willing to go the extra mile to invest in some of the finest professionals we can find and also, we have put structures in place that will ensure that we are always at the top of our game when it comes to impacting knowledge as it relates to our training services. We have been able to secure permits from all relevant departments in the State of Illinois.
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is owned and managed by Fallon Gatwick and other members of his faculty. Fallon Gatwick has over 25 years’ hands on experience in the Community Colleges industry in the United States and he is a Registered Nurse (RN), a Certified Education/Trade Instructor and he has a Degree in Public Health and Nursing.
3. Our Products and Services
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. offers a wide range of services that revolves around training students on drugs administration, bathing a newborn baby, feeding, dressing, helping doctors to hold patient when the need arises, helping doctors to obtain and organize all they would need to treat a patient or carry out surgical operations et al and preparing them to pass and enroll in a nursing school.
We will be dedicated to establishing good business relationship with our students by giving them value for their money and reasons why they should continue to recommend their family members and friends to us.
4. Our Mission and Vision Statement
- Our Vision is to become the number one government approved certified nursing assistant (CNA) school in the whole of Chicago – Illinois, United States of America.
- Our mission as a government approved certified nursing assistant (CNA) school is to develop a highly successful, and profitable school which provides quality training in our community and to become a standard for certified nursing assistant (CNA) schools not only in Chicago – Illinois, but also throughout the United States of America and Canada where we intend attracting students.
Our Business Structure
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. has set out to build a certified nursing assistant (CNA) school that will be a standard for the certified nursing assistant (CNA) school business in the United States of America. We want to build a dedicated workforce that will ensure that our students are satisfied and they get value for their money.
We aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why will be putting structures in place that will help us deliver excellent trainings and run the business on auto pilot.
The success of our certified nursing assistant (CNA) school will be anchored on our faculty members not on any individual. Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. will employ professionals to occupy the following positions;
- Head of The School/School Coordinator
- School Administrator
- Instructors
- Accountant
- Marketing and Sales Executive
- Client Service Executive
5. Job Roles and Responsibilities
Head of the School / School Coordinator:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
School Administrator
- Responsible for overseeing the smooth running of HR and administrative tasks for the school
- Regularly hold meetings with key stakeholders (members of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily activities of the school.
Instructors
- Responsible teaching students based on the subjects assigned
- Accesses the progress of students under their care
- Ensures that students abide by the rules and regulations of the regulating bodies in the United States of America
- Contributes their quota towards growing the school
- Receives complaints from students and channel it to the appropriate quarters
- Handles any other duty as assigned by the school coordinator.
Marketing and Sales Executive
- Identifies, prioritizes, and reaches out to new students, and business opportunities
- Identifies development opportunities and follows up on development leads and contacts
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the student’s needs, and communicate with clients
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the school.
Accountant
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization.
Client Service Executive
- Welcomes students and visitors by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with students on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Consistently stays abreast of any new information on the schools’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to students when they make enquiries
- Distributes mails in the organization
- Handles any other duties as assigned by the school authority
6. SWOT Analysis
We are building a standard certified nursing assistant (CNA) school that will be affiliated with world – class nursing schools and medical institutions in and around the United States which is why we have decided to subject our business idea to SWOT Analysis.
We hired the services of a HR and Business consultant with bias in educational and training startups to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc.;
- Strength:
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the CNA school industry, a team with excellent qualifications and robust experience in professional CNA trainings and practices.
Aside from the synergy that exists in our carefully selected faculty members, our state of the art facility and our strong online presence, Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors for business.
- Weakness:
As a new CNA school in Chicago – Illinois, it might take some time for our organization to break into the market and gain acceptance especially in the already saturated CNA school industry; that is perhaps our major weakness. Another weakness could be that we might not have the required capital to pump into publicity of our business.
- Opportunities:
The opportunities in the industry is massive considering the fact that nurses are not able to handle all the demand of their industry, hence the need for trained professionals to assist them. As a standard nursing assistant school that is centrally located, we are ready to take advantage of any opportunity that comes our way.
- Threat:
Some of the threats that are likely going to confront Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. are unfavorable government policies, demographic/social factors, downturn in the economy and of course emergence of new competitors within the same location where our school is located.
7. MARKET ANALYSIS
- Market Trends
The key to attracting students to your CNA school is the ease at which students enroll into nursing schools or medical colleges, and the ease at which they get jobs as certified nursing assistants. The truth is that any certified nursing assistant (CNA) school that has good records and loads of positive testimonials from students who have passed through the school will always thrive.
Another common trend in the Community Colleges industry is that in the bid to survive te global economic meltdown and to ensure steady flow of income to effectively run the business, most players in the industry engage in other related services. Some of them even go as far as establishing agency services to provide professional and certified nurses for clients and some also offer specialized training for executive students.
It is a known pattern that as unemployment declines, demand for courses provided by this industry will drop, as further education and training become less essential to finding employment. The national unemployment rate is expected to decrease significantly going forward, posing a serious potential threat to the industry.
As a matter of fact, about half of total government postsecondary education comes from state governments while federal contributions comprise mostly of grants bestowed on universities to be used for specific research.
A rise in government funding for universities will cause enrollment in certified nursing assistant (CNA) schools to grow, as government funding typically increases the availability of education loans. Government funding for universities and colleges is expected to increase going forward, representing a potential opportunity for the industry.
8. Our Target Market
Prior to choosing a location for our certified nursing assistant (CNA) school, we conducted thorough feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings.
Essentially, the demographic and psychographics composition of those who require the services of certified nursing assistant (CNA) school are people who want to enroll in a nursing school. The industry is not gender selective, and it is not restricted to any age bracket as long as they have the required qualifications.
Our Competitive Advantage
Setting up a certified nursing assistant (CNA) school is tough, but that does not mean that there are no real competitions in the industry. The truth is that no matter the line of business that you are involved in, as long as it is called business, you will definitely face one form of competition or the other and a CNA school is not an exemption.
Our competitive edge is that we have the ability to train students who will easily pass their nursing school enrollment exams or work as certified nursing assistants, we have access to highly skilled workforce. Our location is another major strength for us because we are in a location with the right demography for the kind of business we run.
Another strength that counts for us is the power of our team (professional and certified nursing instructors and back – office staff members) and management. We have a team that are considered experts in the business, a team of hardworking and dedicated individuals.
Last of all, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is established with the aim of maximizing profits in the Community Colleges industry and we are going to ensure that we do all it takes to attract students on a regular basis. Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. will generate income by offering the following services;
- Certified Nursing Assistant (CNA) trainings
- Registered Nurse (RN) enrollment trainings
10. Sales Forecast
We are well positioned to take on the available market in and around Chicago – Illinois and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operation and grow our certified nursing assistant school and our student base.
We have been able to examine the business, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc., it is based on the location of our business and of course the wide range of related services that we will be offering;
- First Fiscal Year (FY1): $350,000
- Second Fiscal Year (FY2): $750,000
- Third Fiscal Year (FY3): $1.5 million
N.B: This projection was done based on what is obtainable in the business and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
The marketing strategy adopted by Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is going to be driven basically by excellent customer service and quality training. We will ensure that we build a loyal customer base. We want to drive sales via the output of our jobs and via referral from our satisfied students.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc.
Our goal is to grow Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. to become the leading certified nursing assistant (CNA) school in Chicago – Illinois which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with in our line of business.
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our certified nursing assistant (CNA) school by sending introductory letters alongside our brochure to schools and other key stake holders in and around Chicago – Illinois
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our business
- Post information about our certified nursing assistant (CNA) school and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
- Place a small or classified advertisement in the newspaper, or local publication about our certified nursing assistant (CNA) school and the services we offer
- Leverage on referral networks such as agencies that will attract students who would need our services
- Advertise our certified nursing assistant (CNA) school in relevant entertainment magazines, newspapers, TV and radio stations
- Attend relevant expos, seminars, and business fairs et al to market our services
- Engage in direct marketing approach
- Encourage the use of Word of mouth marketing from loyal and satisfied students
- Join relevant groups that has school leavers to market our certified nursing assistant (CNA) school and the courses we offer.
11. Publicity and Advertising Strategy
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is set to create a standard for the CNA school business not only in Chicago – Illinois, but throughout the United States of America which is why we will adopt and apply best practices to promote our business.
Good enough there is no hard and fast rule on how to advertise or promote a certified nursing assistant (CNA) school. Here are the platforms we intend leveraging on to promote and advertise Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc.;
- Encourage our loyal customers/students to help us use Word of Mouth mode of advertisement (referrals)
- Advertise our certified nursing assistant (CNA) school in relevant health magazines, local newspaper, local TV and radio stations
- Promote our school online via our official website
- List our school on local directories (yellow pages)
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et al to promote our brand
- Install our Billboards in strategic locations all around Chicago – Illinois
- Direct coupon mailing approach
- Distribute our fliers and handbills in target areas
- Ensure that all our staff members wear our customized clothes, all our equipment, and official cars are customized and well branded.
12. Our Pricing Strategy
At Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance.
We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs. The prices of our training services and certifications will be same as what is obtainable in the open market.
- Payment Options
The payment policy adopted by Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation in the United States of America.
Here are the payment options that Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. will make available to her clients;
- Payment via bank transfer
- Payment via online bank transfer
- Payment via mobile money platform
- Payment via Point of Sale Machines (POS Machine)
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for registering and school fees without any stress on their part.
13. Startup Expenditure (Budget)
We have been able to pull cash that will be enough for us to successfully launch a standard and government approved certified nursing assistant (CNA) school in Chicago – Illinois. The items listed below are the basics we will need when starting our school in the United States, although costs might vary slightly;
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits – $15,500.
- Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
- The total cost for hiring Business Consultant – $10,000.
- The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
- The total cost for leasing facility for the business – $150,000.
- The total cost for equipping our lab – $350,000
- Other start-up expenses including stationery – $10,000
- Phone and utility deposits – $8,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $40,000.
- The cost of launching a website – $600
- Miscellaneous – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about $1.5 million to successfully set up a medium scale but standard certified nursing assistant (CNA) school business in the United States of America.
Generating Funds/Startup for Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc.
Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is owned and managed by Fallon Gatwick and other members of the faculty. They are the financier of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
- Generate part of the startup capital from personal savings and sale of his stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $500,000 (Personal savings $300,000 and soft loan from family members $200,000) and we are at the final stages of obtaining a loan facility of $1 million from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our school fees a little bit cheaper than what is obtainable in the industry and we are prepared to survive on lower profit margin for a while. Fallon Gatwick® Certified Nursing Assistant (CNA) School, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of.
Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more.
We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a standard facility and reconstructing the facility: Completed
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Purchase of training tools and equipment and supplies: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed lab equipment, furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
- Creating official website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress