Setting up a school, especially a nursery and primary school requires that the investor concerned first developed affections for small children and activities that has to do with them. This keeps the business going, as establishing a school may not be that lucrative at the ‘teething’ stage of the business. Before writing this report, a detailed survey was done, visiting various school owners, an association of school owners, the ministry of education, the intended site of the school and other key stakeholders. Useful data, procedures, and directives were received on the step by step of establishing a school and the pitfalls. Our findings reveal that the definition of a standard school is not only in the teaching pattern or the structure of the school building but also in the learning facilities but in place to aid learning.
Superior nursery and primary school will be sited at Alagogo of Ajibode Area, Akinyele, Oyo State. This is based on a market feasibility that reveals the low standard of education in the area and the desire for a standard school in the
area, which made parents send their children to schools of a higher standard in distant Bodija area. The study also reveals that there are two public and four private schools in the area presently, most of which are extremely low standard. Apart from ensuring a quality standard in the proposed school, we also seek to embark on an aggressive awareness and publicity. The technical feasibility shows
the school building plans and several technical requirements of putting the school in place, and found to be realistic.
From the legal feasibility, the necessary rule and regulation from the ministry of education were complied with, although the ministry specifies two plots of land, we use three to allow for an adequate playground and parking space. The financial and economic feasible through various standard techniques of assessing the viability of projects, both discounting and non-discounting were and employed and they all revealed that the project is viable and worth an investment to embark on. The payback period shows that it will take one year, six months and 13days for the project to recover its initial investments while the return on Investment through the rate of return reveals 154.3% and Average rate of Return shows 30.9% annually. The Cost Benefit Analysis or Benefit Cost Ratio was also used and found to be 2.116, while the Internal Rate of Return was 0.78 and the Net Present Value a nonnegative value of 120,479,048. Finally, we recommended that the project is feasible and viable; hence, it should be embarking upon.
CHAPTER ONE INTRODUCTION
Education is an important tool in the development of the human resource of a nation. It is seen together with health as the areas a nation should not take for granted, this is because of its impact on the development of the human mind, in terms of literacy, social interaction and inculcation of national consciousness as well as its spill-over impact on other citizens and the upcoming generations.................
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