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With budget cuts, rising operational costs, and increasing demands, finding alternative streams to generate additional income is more important than ever. Schools need innovative, sustainable strategies to supplement their funding, enhance resources, and maintain high educational standards.
EPM’s next Thought Leaders panel session will explore income generation strategies with sector experts from Rotherham United Community Trust, Blue Apple Education, and Redcar and Cleveland Council. Below, we outline key opportunities to boost school revenue - join the discussion to share your experiences, obstacles, and insights.
1] Maximise facility hire
Your School’s buildings and outdoor spaces can generate significant income when rented to external organisations, businesses, or individuals out of school hours. Our research suggests that a medium-sized MAT could generate up to £100k a year through strategic rentals.
Key opportunities:
- Sports facilities: Rent out sports halls, football pitches, playing fields, or swimming pools to local clubs and community groups. There’s often demand for well-maintained facilities, especially in urban areas.
- Halls and auditoriums: School auditoriums can be excellent venues for community events, concerts, theatre performances, and business conferences. Renting these spaces during evenings, weekends, or school holidays can bring in a steady flow of additional income.
- Classrooms for adult education or clubs: Partner with adult education providers or local hobby groups to use classrooms after hours for evening classes, language courses, or special interest clubs.
Action point: Have you audited your School’s spaces for rental potential? Have there been any challenges in managing lettings that could be addressed in the future?
2] Partner with local businesses
Strong partnerships with local businesses and organisations can offer mutual benefits both financially and practically. Whether through sponsorship, donations, or shared events, these collaborations can create new funding streams.
Ways to collaborate:
- Sponsorship: Secure funding from local businesses for events like sports day, sustainability projects, or school fairs, offering brand exposure through school newsletters, social media, and event marketing in return.
- Collaborative events: Partner with businesses to co-host fundraising events such as fun runs, charity auctions, or festivals to attract wider support and ensure greater financial success.
- Corporate donations and philanthropy: Engage with local businesses that offer charitable donations or tap into corporate social responsibility (CSR) programs where businesses contribute funds, technology, or equipment.
Action point: Have you successfully formed partnerships with local businesses for sponsorships or donations? What strategies have worked best in approaching them?
3] Expand after-school and holiday clubs
With increased demand for childcare support, after-school and holiday clubs, which have been a focus of the new Government agenda, provide a valuable service to community families while boosting extra income.
Ideas to consider:
- After-school clubs: Offer sports, arts and crafts, music, or tutoring activities in the afternoons for a reasonable fee to attract parents who require extended care for their children.
- Holiday camps: Organise themed holiday camps during school breaks for sports, drama, science, or adventure – these are a reliable and safe solution for parents, and can bring in as much as £10k when all facilities are used.
Action points: How do your clubs currently generate income? Could you expand your offering while keeping it affordable for parents?
4] Boost fundraising and community engagement
Fundraising activities remain a tried-and-tested method for schools to generate extra income, while strengthening community connections with parents and local residents.
Fundraising strategies:
- School fairs & events: Organise bake sales, raffles, and talent shows to engage the community and raise funds.
- Crowdfunding: Use platforms like GoFundMe or JustGiving to reach a wider audience, including alumni, community members, and parents, to raise money for specific projects such as new playground equipment or school trips.
Action point: Have you explored crowdfunding platforms for larger projects? How was your experience in engaging the wider community?
5] Monetise school resources and expertise
Schools with unique offerings, such as high-quality educational resources or skills in areas like music, art, or coding, can sell content or consultancy services to create long-term revenue streams.
Potential income streams:
- Sell educational resources: Create and market teaching materials, worksheets, or elearning content to other schools or through online platforms to reach a global audience.
- Offer consultancy services: Schools with expertise in areas such as curriculum development, leadership training, safeguarding, or financial management can provide training and advisory services on a retainer basis to other schools or trusts - potentially earning £20k-30k per area.
Action point: What are your School’s key strengths? Could existing materials be easily adapted for external sale?
6] Renting school property for filming
If your School has historic, unique, or architecturally interesting buildings, consider renting it out to film or television production companies, or for advertising shoots. This can be a high-volume income source, but requires careful planning to ensure that it doesn’t disrupt school activities.
Action point: Have you explored renting property for filming? What potential do you see in this venture?
Take action
Schools must think beyond traditional funding streams to stay financially resilient. By hiring out facilities, forming business partnerships, expanding extracurricular services, and leveraging assets, schools can create sustainable income sources without compromising their focus on delivery quality education.
Join our free Thought Leaders panel session to explore these strategies further and learn from experts who have successfully implemented them. Find out more and register here > Recovering revenue: Additional income generation for schools & trusts.
