School
5 Ways To Generate Extra Income For Your School
Posted
17-11-2021

It isn’t new knowledge that schools are facing serious budgetary pressure, the recent pandemic has only increased this pressure for schools across the country.

While new government funding has been introduced to help schools manage the extra costs caused by Covid, the Education Policy Institute (EPI) has suggested the majority of schools’ additional costs will not be met by the fund and will still be facing a shortfall amounting to £40 per pupil. Over half of all schools are now using their reserves in order to meet Covid-related costs which could lead to a deterioration in the financial health of schools, you can see the EPI report here.

Many schools are looking for ways to cut costs and make savings on resources and utilities but that can only go so far, a lot of schools have already exhausted these avenues and stretched resources to the limit. Building revenue streams for your school can really help combat these extra costs and provide income for schools across the country.

On-site Café

If you have space, an on-site cafe can help to provide a reliable income stream for schools generating income from pupils, staff and visitors. If you have parents who like to congregate in the school grounds at pick-up and drop-off why not offer them a nice place to sit and buy a coffee. It doesn’t need to be fancy, some coffee and cake should tempt them.

Sponsorships

Approaching local businesses and sector-specific organisations to sponsor events like school plays, sports days and open days can help to generate some extra income from your school. Create appealing sponsorship packages that benefit both parties and really drive home the reach and benefits it can have for them. A lot of businesses will be more than happy to contribute to their local school.

School Facilities

Letting facilities is not a new concept but can be a great, consistent stream of income for schools. Letting out sports facilities to local clubs not only gives them a place to happen, building links with the local community but most of them take place on a regular basis meaning you have income you can rely on. Other facilities like classrooms, the main hall, transport such as minibusses and car parks can also be let for events, meetings and conferences.

See how we can help to make generating income even easier

Advertisements

If your school is in quite a central position or near a main road, advertisement space should be considered. Putting up billboards and banners on fences can reach a lot of people and ad space isn’t cheap! You would need to cover the print costs but by creating a competitive advertising package this can be a really effective way to generate extra income.

Solar panels

Many school buildings were constructed in the late 1900’s and can be costly to run, schools can significantly reduce costs by looking at their energy source and consumption. NetZero has said that a solar panel array of 29kW can generate £5,000 for a school each year with surplus energy being sold back to the national grid.

These are just some ideas on how your school can make some extra income. We have seen some of our school customers generate over £60K in six months.  If you are looking for a simple way to rent out your school facilities, transportation, rooms, and sports courts have a look at the Tucasi lettings module, which has been designed to make the process as easy as possible, managing the complete lettings process for you.

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