Overview
NorthStar Education Partners collaborated with Thrive Public Schools to develop a financial sustainability strategy aimed at ensuring long-term stability and growth. This partnership focused on creating a fair and competitive pricing structure for Thrive’s services, maintaining manageable operating costs, and enhancing the sophistication of financial systems and practices.
Objectives
Thrive Public Schools partnered with NorthStar to:
- Pricing Strategy Development: Conduct a market scan of peer organizations to gather pricing benchmark data and inform Thrive’s pricing strategy.
- Flexible Financial Model: Develop a flexible financial model that captures current expenses and supports modeling multiple growth scenarios.
- Long-term Financial Planning: Utilize the financial model to develop a long-term pricing strategy and plan for various growth scenarios.
- Financial Sustainability Training: Train the Thrive team on financial sustainability principles, practices, and using the financial model.
Partner
Thrive Public Schools
Location: San Diego, California
Enrollment & Schools
Serves over 600 districts, charters, and educational organizations
Mission Statement
Thrive is boldly pursuing a mission to transform education by empowering educators and reimagining the education system.
Key Activities & Deliverables
Pricing Strategy Development
- Market Scan: Conducted a market scan of five peer organizations to gather pricing benchmark data.
- Pricing Strategy: Developed a comprehensive and competitive pricing strategy based on benchmark data.
Flexible Financial Model
- Financial Model Development: Created a flexible financial model that captures current expenses and supports various growth scenarios.
- Scenario Planning: Utilized the financial model to plan for three specific growth scenarios.
Long-term Financial Planning
- Long-term Strategy: Developed a long-term financial strategy to ensure sustainability and growth.
- Scenario Analysis: Analyzed the impact of different growth scenarios on financial stability.
Financial Sustainability Training
- Training Sessions: Conducted training sessions to educate the Thrive team on financial sustainability principles.
- Training Materials: Provided training videos and materials for ongoing use and maintenance of the financial model.
Outcomes
NorthStar and Thrive Public Schools successfully implemented a financial sustainability strategy that has significantly enhanced their financial planning and stability. This collaboration resulted in:
- Enhanced Financial Planning: A comprehensive and flexible financial model that supports long-term planning.
- Competitive Pricing Strategy: A pricing strategy that is fair, competitive, and accessible to Thrive’s partners.
- Increased Financial Literacy: Improved financial literacy and planning capabilities within the Thrive team.
- Sustainable Growth: A clear path towards sustainable growth and financial stability.
Read more case studies and learn how NorthStar Education Partners is transforming education through strategic partnerships and innovative approaches.