The minimum budget you should have to start a CNA school in the United States of America should be between $500,000 to over $1.5 million.
A CNA (Certified Nursing Assistant) School is an educational institution that offers training programs for individuals interested in becoming certified nursing assistants. It is a well-structured and accredited institution that is highly regulated. As a matter of fact, you can easily count the number of CNA schools in your state.
So, if you desire to start a CNA school, aside from the cost involved, you are required to meet the accreditation requirements in your country and state.
Arriving at a specific cost when it comes to starting a Certified Nursing Assistant school can be extremely difficult. This is so because apart from personal preferences, there are major factors that can influence the overall cost of starting this business. Now, let us consider some of the factors that can influence the overall cost of starting a CNA school.
Table of Content
Estimated Cost Breakdown for Opening a CNA School
- 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.
Factors That Influence the Cost of Starting a CNA School
The Cost of Infrastructure
When it comes to starting a CNA school, a significant chunk of your budget will be used to acquire and set up your infrastructure. You will need to either lease or purchase an infrastructure for your school school.
As a matter of fact, before your school can gain accreditation and recognition, you are expected to have standard facilities such as classrooms, laboratories, simulation centers, administrative offices, libraries, hostels, and other required facilities. Note that it will cost you several thousands of dollars or even millions to have all these facilities in place.
The Cost of Hiring Faculty and Staff Members
You cannot start a CNA school without having a budget for hiring experienced and qualified faculty members. As a matter of fact, part of the criteria that will be used to assess if your CNA school meets the requirements for gaining approval and accreditation is if you have experienced and qualified faculty members in place. Trust me, it will cost you a significant part of your budget to hire experienced and qualified faculty members.
The CNA School Curriculum Development
Another area where you are expected to spend your startup capital if you are looking forward to starting a CNA school is on developing a comprehensive and up-to-date nursing curriculum.
The truth is that, without a comprehensive and up-to-date nursing curriculum, you will find it difficult to get government approval or accreditation for your school. You and your team are expected to put in rigorous work and financial resources to be able to come up with a comprehensive and up-to-date nursing curriculum.
In some cases, you may need to hire an expert to help you put together a comprehensive and up-to-date nursing curriculum.
Starting a CNA school demands that you have the required equipment and supplies needed to run the school. As a matter of fact, before you gain approval and accreditation from the government, you will be required to have certain equipment and supplies in place.
Your facility, especially your laboratory must be well-equipped with the right medical mannequins, simulation equipment, laboratory supplies, teaching aids, computers, and software for educational purposes. Trust me, the amount you will spend to have all this equipment in place will add significantly to the overall cost of starting your CNA school.
The Cost Required for Accreditation and Licensing of the CNA School
As earlier stated, you cannot legally run a CNA school without first securing the needed accreditation and licensing. In essence, the cost required for accreditation and licensing of the CNA school is a major cost that will influence the overall cost of starting your school.
As expected, there are fees to be paid and processes that must be followed before a CNA school can successfully gain accreditation. You are expected to pay accreditation fees, pay for site visits, and pay for licensing. All these costs are part of what will determine the overall cost of starting your CNA school, and you must budget for them.
Your Operational Expenses
Lastly, another major cost that can influence the overall cost of starting a CNA school is your operational expenses. Come to think of it, in order to keep your CNA school up and running, you must make sure that the facility, you must make sure that administrative functions, human capacity building, marketing and sales, maintenance and repairs, logistics, and everything that should be in place to facilitate the smooth running of your CNA school are in place.
Please note that the amount you are expected to spend on your operational expenses will be influenced by the capacity and location of your school. For example, if you run a CNA school without hostels for students, you will spend less on operational expenses when compared to a CNA school that also owns hostels for students.
Going by all the factors listed above, it will be safe to say that the minimum budget estimate you should have in place if you want to start a CNA school in the United States of America should be between $500,000 to over $1.5 million. Starting a CNA (Certified Nursing Assistant) school is a major project that requires significant investment, and you must be financially ready.