Create a business plan. Like any other business, a modeling school will have startup costs and a cost of operation. Mapping out the specifics of your school, its scope and short- and long-range business projections is crucial in being successful. Many decisions about things like payroll planning, equipment purchases, and insurance can only be made once you define the size and location of your business. Within your business plan, you need to consider trends in the industry. You also need to consider your competition and what they are doing in their business models that you can learn from. Keep in mind, you might find it harder to build a modeling school business in a small town than in a metropolitan area like LA. You should also consider the ways in which your school will differ from other schools, and how this difference might offer your school an advantage in attracting students.
Consider what type of building you will need depending on what size school you intend to open. If your school will be small, you might do well with a modest studio but if your school is more ambitious in scope and will employ several instructors and clerical staff members, then you might need to rent, lease or buy a building that can accommodate your needs. Remember to plan ahead for growth as well.
Hire instructors with the expertise and background in the industry. Former acting coaches, models and fashion industry experts are among the types of professionals you should consider when hiring teaching staff. You will also need to hire administrative staff that will be tasked with handling administrative and financial issues for the school.
Advertise your school. You should be prepared to launch a full advertising campaign to get your schools name out there. Place and ad in the yellow pages, create a website and advertise online, in fashion magazines and in newspapers.
Make connections with modeling and advertising agencies. Students will appreciate and more often enroll in a school that can offer them advantages in getting their foot in the door. Your school might, for example, have an event periodically with a modeling agency's representatives who hold auditions, or even present a guest lecture to students on the specifics of getting signed with their agency. Keep an eye on what other companies like Barbizon are doing.