Case Study:
Inside Providence Country Day School's Four-Year Journey to Nearly Double Enrollment
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This case study with Kevin Folan, the Head of School at Providence Country Day (PCD) exemplifies how an agile mindset can lead to transformative results.
He and his team embraced multifaceted strategies that catapulted the school's enrollment to nearly double in a mere four-year span.
From resetting tuition (and yielding a significant increase in enrolled students) to introducing an innovative educational playbook to creating a groundbreaking online academy with global partnerships, PCD has blended tradition with a spirit of nimble change.
And if you liked my earlier newsletter sharing the essential question Northeastern University asks ahead of any merger and acquisition conversation ("What can we do together that alone we can't do?"), then you'll appreciate this next part of PCD's story.
They acquired an elementary school, allowing PCD to serve students preK-12 (vs. grade 6-12 pre-merger) and live their mission in new and exciting ways.
You'll learn about this and more in our 30-minute interview.
It's a deep dive into the intricate dance of maintaining a school's core values while pioneering change. It makes it a must-watch if you're curious about ways to reimagine the independent school business model.
Thanks to Kevin Folan for sharing the PCD story and showcasing what can happen when you and your school embrace a spirit of nimbleness.
Transcript
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Discussion Prompts
Tuition Models and School Growth: Kevin Folan discussed the significant changes to Providence Country Day's structure and enrollment numbers. How do changes in tuition models, like flexible tuition or tuition reset, potentially impact the overall growth of an educational institution? Are there specific pros and cons to each model, and how might they apply differently to various educational contexts?
Responding to External Factors: Kevin Folan mentioned the Great Recession and its impact on the school, as well as the broader demographic changes in the Northeast. In what ways can educational institutions be proactive in adapting to external challenges? How can they anticipate and prepare for shifts in the market?
Marketing and Perception: Kevin Folan emphasized the importance of how the tuition reset was presented and perceived. Why is the marketing and communication of such changes critical for a school's success? How can schools ensure that their messaging resonates positively with their target audience?
The Balance of Brand Value and Accessibility: Kevin Folan discussed how PCD's tuition had risen by 400% while median incomes in their area had only risen 15%. How do institutions balance their brand value and reputation with ensuring their offerings are accessible to a broader community? What are the potential risks and benefits?
Mergers in the Education Sector: Kevin Folan detailed the merger with the Henry Barnard School. Under what circumstances should schools consider mergers as a viable strategy for growth or survival? What are the primary challenges, and how can schools overcome them?
Managing Expectations in Periods of Change: Kevin Folan mentioned diverse reactions to the many changes happening within a short span, including the tuition reset and the merger. How can educational institutions manage stakeholder expectations and concerns during periods of significant change? What communication strategies are most effective?
Strategic Planning and Nimbleness: The discussion touches upon the evolving nature of strategic planning, moving from traditional 5-year plans to more short-term, iterative approaches. Discuss the pros and cons of both approaches, especially in a rapidly changing environment. How do institutions ensure they remain grounded while being nimble?
