Industry Analysis & Industry Trends
The Trade and Technical Schools industry has experienced fluctuations during the past five years, largely due to the recession and stagnant growth in federal funding. High unemployment has caused individuals to seek out further education, while employers are increasing their training requirements to remain competitive. In the five years to 2019, sustained unemployment and government funding for universities, combined with the increasing tuition of four-year colleges, will boost enrollment in vocational training... purchase to read more
Industry Report - Starting a New Business Chapter
Capital costs can be a barrier to entry, depending on the segment that a prospective operator is considering. For example, the cost of setting up an aviation school is high due to the range of expensive equipment required to provide training. The cost of establishing a business in hairdressing is much lower by comparison. Similarly, technical training institutes tend to have the latest technology used by the industry. Therefore the startup costs for these operations are higher than the industry average.
Reputation is essential, and therefore new schools may face some difficulties in attracting students. Schools generally need to have a solid reputation for quality of training provided and connections with possible employers, which may take some time to establish... purchase to read more