There's room. But the problem you'll find is the constant problem with raising funds and keeping staff. People have their own motivations for working at a place but the bottom line is that they must feel like they are earning enough to keep them satisfied. It varies by person. But if the workplace can't compete in pay and benefits then people move to where they can find that.

Also, it's expensive to run a quality business and you'll find that you will need to charge students about what they are paying now. You might give them a better quality education but ultimately it costs a lot of money to keep staff and the other business needs. So either you charge what it costs or you do fundraising. Also, even if you keep the costs low, students what to attend and pay for a school that will eventually give them the education that will give them the skill to get a top paying job. You need to build a reputation that will eventually create a school people want to attend.

So basically you have to have a benefactor that will pay and carry you through the expenses and the time to build a reputation. It's a very hard to do.