After receiving formal approval to be an Independent School operator, what is the timeline for developing and opening a school?

Final school applications are approved in March of each year by the SEC. Shortly thereafter, the SEC and operator will sign the Independent School Operating Agreement, which describes the rights and responsibilities of each party and authorizes disbursement of funding. Between March and September, operators will hire and train staff, develop internal structures and policies, and implement the school design plan. Most operators will open a school in the fall of the year that they are approved. Some operators, however, may request custom-built educational facilities to enable them to implement their unique educational design. If their request is granted, the school will open approximately 18 months after approval to allow time for construction. New operators will be given a 3-year Agreement to operate an Independent School, with an opportunity to renew for an additional three years after a satisfactory performance review.