Yearbooks are expensive and outdated. They are usually created by student-run organizations at the school.
This business is more of an innovative business plan than updates in technology. What you could do is offer yearbooks at a lower cost (maybe even free). The way you make money is via advertising, keeping track of students over time, or selling to parents. You can gather a lot of information and use that to make money while providing a SaaS service for free.
Your high school needs a yearbook. You can raise money and get each student to buy a book, or you could push for an electronic yearbook that will take hardly any time to set up. The yearbook will continue to be useful for years to come. Imagine a yearbook that never ends, is available on your computer and connects to other social platforms available.