In this episode of Tuesday Tips, we were joined by Maddy Marlton, VP of Real Estate Acquisitions at Grow Schools, to discuss school buildings as investments in your school’s mission.
Here are this session’s top 3 tips:
- Assess your financial readiness for property ownership. Before transitioning from leasing to purchasing, ensure your school has stable or increasing enrollment (ideally with a waitlist), a long-term charter renewal, several years of positive cash flow, and sufficient cash reserves for unforeseen expenses or improvements.
- Start the facility planning process early. It’s never too early to begin conversations about your facility needs. Typical timelines vary by project: purchasing your current facility might take 4-6 months, acquiring a new existing property could take 12-18 months, and purchasing land for new construction typically requires 18-24 months.
- Balance current needs with future growth. Right-size your facility for today while planning for expansion. Avoid overextending your budget on a dream campus, but consider properties with zoning flexibility, potential for phased construction, or excess land for future development. Ensure the location serves your families well and can accommodate increased traffic flow as you grow.
