Essential Budgeting Tips for Starting and Sustaining a Micro or Hybrid School

In this episode, we delve into the critical aspects of budgeting and planning for starting and maintaining a micro school. Emphasis is placed on understanding all budget categories early on to ensure sustainability and fair compensation. Key categories discussed include facility costs, insurance, technology infrastructure, salary, supplies, curriculum, and professional development. The episode also covers strategies for cutting expenses in the first year and the importance of including buffers and miscellaneous expenses to handle unexpected costs. Practical advice is given on setting tuition rates that cover all expenses and using fundraising or grants for non-recurring costs. Listeners are encouraged to have a realistic budget to keep the operations smooth and sustainable.

00:00 Introduction to Budget Planning

00:39 Understanding Budget Categories

02:49 Facility Costs Breakdown

05:38 Insurance and Technology Expenses

10:23 Managing Supplies and Curriculum

13:43 Salaries and Staffing Considerations

15:43 Training and Professional Development

19:47 Miscellaneous and Cushioning Your Budget

21:34 Conclusion and Resources