The True Cost of a Student

keeping more students

Sometimes it’s easy to lose sight of how much a student is exactly worth to your business.

Well in this post I am going to show you exactly how much a student is worth – this will really get your attention when it comes to keeping students!

Lets say in a good school an average student stays for 8 months and to keep it simple lets say an average school charges 100 a month.

Lets do the math

8 x 100 = 800 per student

Plus lets say another 400 for testing, equipment etc

Thats 1200 lost per student!

Lets say your loosing 10 students a month (200 students with 5% drop out ration)

1200 x 10 = 12000

Thats Twelve thousand lost per month

12000 x 12 =144000

That’s a One hundred and forty four thousand lost per year!

Now lets say 3 out of those ten refer someone who joins

1200 x 3 x 12 = 43200

So lets add the 2 together

144000 x 43200 = $187200

That’s One Hundred and Eighty Seven Thousand and Two Hundred Dollars.

That’s £112320 in pounds sterling

Now you know the true value of a student and it may be more at your school, ask yourself what can I do to keep more students?

If you retained an extra 3 students a month what would that be worth to you, well lets do the math!

1200 x 3 x 12 = 43200 thats 3600 a month!

What could you do with an extra $43200 extra in your pocket every year?

A couple of weeks ago someone sent me an email that went something like this…

I’m interested in your curriculum but at 497 its a little expensive in todays climate…

To be honest I chuckled to myself when I got this email because its stinkin thinkin! – totally the wrong way to look at this.

500 investment to save at least 43200 – we know which is the best investment!

The lesson here is keeping students is cheap loosing them is very expensive!!!.

What can you do to keep more students?

I am willing to bet Curriculum Pro or Curriculum Max can help you save $43200 a year minimum!