business plan for skills training centre

Vocational School and Training Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Education Sector » Schooling

Are you about starting a vocational training center? If YES, here is a complete sample vocational school business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a vocational school. We also took it further by analyzing and drafting a sample vocational training business marketing plan template backed up by actionable guerrilla marketing ideas for vocational schools. So let’s proceed to the business planning section.

There are countless number of people out there who are trying to acquire skills that will enable them put food on their table, pay their bills and ultimately become their own boss, and a vocational school & training center is just an ideal place they can get the journey started.

You can be rest assured that your services will always be in demand not only by young or old people who could not make it to the university or college, but also by graduates who would want to start a skill based business of their own. The truth is that if your vocational school & training center has loads of courses (trades) and is government approved, then you may not have to struggle to persuade students to enroll in your school.

Just like most businesses, the trade and technical school industry is open for as many people that are interested in the industry as long as you have what it takes to run an accredited vocational school & training center.

Even if you don’t have the finance and other requirements, you can come into the industry by starting out as a small music school or driving school in your neighborhood. If you have decided to start a vocational school & training center, then you should must make sure that you carry out thorough feasibility studies and also market survey.

Lastly, you would need a good business plant to be able to launch a successful business, and below is a workable vocational school & training center business plan template that will help your draft yours.

A Sample Vocational School & Training Center Business Plan Template

1. industry overview.

Vocational school and training center falls under the Trade and Technical Schools industry, and it comprises of schools that offer vocational and technical training in a wide range of technical subjects and trades. The trainings offered by trade and technical schools often lead to job-specific certification.

Instruction may be provided in diverse settings, such as the company’s training facilities, the workplace, the home or through distance-learning methods. Key areas in this industry include music schools and musical instrument training, cosmetology and barber schools, flight training, apprenticeship training and other technical training.

If you are a keen follower of the Trade and Technical Schools industry in the united states, you will agree that the industry has experienced fluctuations over the last five years due to the recession and stagnant growth in federal funding for such schools.

High unemployment has caused individuals to seek out further education, while employers are increasing their training requirements to remain competitive. Going forward, decreasing unemployment rates combined with the increasing tuition of four-year colleges will both boast enrollment in vocational training, and hamper industry growth.

Statistics has it that in the United States of America alone, there are about 8,876 registered and licensed (accredited) trade and technical schools scattered all across the country responsible for employing about 127,260 people and the industry rakes in a whooping sum of $13 billion annually.

The industry grew at -6.3 percent annual growth within 2012 and 2017. It is important to state that there are no establishment in this industry that has a lion market share.

A recent report released by IBISWorld shows that the Trade and Technical Schools industry operates in a countercyclical manner. The report shows that the industry revenue grew significantly as a result slow economic growth earlier over the five years to 2016, but has suffered subsequently.

Sluggish economic activity helped the industry to grow as the unemployed sought professional training to improve their job prospects.

As national unemployment has decreased however, so has industry revenue. The report further stated that in recent years, the restructuring of the US economy has accelerated. Service industry professions are in higher demand than ever, while growth in manufacturing continues to fail to impress. As a result, individuals displaced by major economic change are still retooling their skillset.

Due to the fact that it is stressful to get government accreditation for a standard vocational school & training center in the United States, it will be safe to say the industry is under saturated. It is important to state that entrepreneurs who are into training people on various trade/skills such as how to drive, how to play musical instrument, how to cook and how to dance et al can easily be found without stress.

Some of the factors that encourage entrepreneurs to start their own vocational school & training center despite the fact that the business is challenging could be that the business is highly profitable, they can easily get funding and support from government and charity organizations and the business can be started in any part of the world.

Starting a vocational school requires professionalism and good grasp of the trade you want to teach people. Besides, you would need to get the required certifications and license (accreditations) and also meet the standard for such business before you can be allowed to start.

One good thing about the Trade and Technical Schools industry is that there is readily available market for their services. So, if you are well positioned and you know how to impart skills to students, you will always smile to the bank.

2. Executive Summary

Richmond Jones® Vocational Training Center, LLC is a registered and accredited trade and technical school that will be located in Orange County – California. We are registered under the United States’ Government. We are well equipped to train people on various technical and vocational skills.

We are set to offer vocational and technical trade trainings such as automobiles, electrical works, music schools and musical instrument training, cosmetology and barber schools, flight training, apprenticeship training and other technical training.

At Richmond Jones® Vocational Training Center, LLC we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own vocational school & training center in Orange County – California.

We are quite optimistic that our values and quality of service offering will help us drive our center to enviable heights and also help us attract the number of students that will make the business highly profitable.

We are in the Trade and Technical Schools industry to favorably compete with other leading brands in the industry. Our corporate business goal is to be among the top 5 vocational school & training centers in the United States of America.

As a company, we are willing to go the extra mile to invest in some of the finest professionals we can find and also, we have put process and structures in place that will ensure that we are always at the top of our game when it comes to impacting knowledge. We have been able to secure permits from all relevant departments in the State of California.

We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and safe trainings and that is exactly what we will do.

Richmond Jones® Vocational Training Center, LLC is owned and managed by Richmond Jones and other members of his faculty. Richmond Jones has over 15 years’ hands on experience in the Trade and Technical Schools industry in the United States and he is a Certified Technical Skill Trainer and has certification in a Niche Area (Trade and Technical Vocation).

3. Our Products and Services

Richmond Jones® Vocational Training Center, LLC is an accredited vocational school & training center that offers a wide range of services that revolves around the Trade and Technical Schools industry. These are the services we will offer as a vocational school & training center;

• Automobile technology
• Beauty and cosmetology training
• Apprenticeship training programs
• Commercial or graphic art training
• Bartending training
• Electronic equipment repair training schools
• Firefighter training
• Medical technician training

4. Our Mission and Vision Statement

• Our Vision is to become the number one government approved vocational school & training center in the whole of Orange County – California, United States of America.
• Our mission as a government approved vocational school & training center is to develop a highly successful, and profitable vocational school & training center which provides quality training in our community and to become a standard for an ideal vocational school & training center.

Our Business Structure

Richmond Jones® Vocational Training Center, LLC is aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our vocational school & training center on the right foundation.

We want to build a business of dedicated workforce who will go all the way to ensure that our students are satisfied and they get value for their money when they enroll in our training center. We aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why will be putting structures and standard operating processes in place that will help us deliver excellent trainings and run the business on auto pilot.

Richmond Jones® Vocational Training Center, LLC will employ professionals and skilled people to occupy the following position;

• Head of The School/School Coordinator

School Administrator

Instructors

Marketing and Sales Executive

Client Service Executive

5. Job Roles and Responsibilities

Head of the School / School Coordinator:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board
• Responsible for overseeing the smooth running of HR and administrative tasks for the school
• Regularly hold meetings with key stakeholders (students and member of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily activities of the school.
• Responsible teaching students based on the vocation they enrolled for.
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the regulating bodies in the United States of America
• Contributes his/her quota towards growing the school
• Receives complaints from students and channel it to the appropriate quarters
• Handles any other duty as assigned by the school coordinator.
• Identifies, prioritizes, and reach out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the school.
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization.
• Welcomes students and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with students on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Consistently stays abreast of any new information on the schools’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to students when they make enquiries
• Distributes mails in the organization
• Handles any other duties as assigned by the school authority

6. SWOT Analysis

In the United States, vocational school & training center is one of the many businesses that can easily generate business deals with little stress as long as they are well positioned. We are building a standard vocational school & training center with various training areas which is why we have decided to subject our business idea to SWOT Analysis.

Ordinarily we can successfully run a normal vocational school & training center without the stress of going through the required protocol of setting up a new business, but because of the nature of the vocational school & training center we want to establish, we don’t have any option other than to follow due process.

We hired the services of a HR and Business consultant with bias in startups to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Richmond Jones® Vocational Training Center, LLC;

Richmond Jones® Vocational Training Center, LLC is centrally located in an area with the right climatic conditions and demographic composition for the kind of business we want to run. Another strength that counts for us is the power of our team; our workforce and management. We have a team that are considered experts in the vocational school line of business, a team of hardworking and dedicated individuals.

Richmond Jones® Vocational Training Center, LLC is a new business and we may not have the financial muscle to acquire the latest equipment needed to train students, to attract and retain the best hands in the industry and also to sustain the kind of publicity we want to give our business.

• Opportunities:

We are centrally located in one of the busiest areas in Orange County – California and we are open to all the available opportunities that the city has to offer. Our business concept and staff strength also positioned us to accommodate over 100 students per time.

The truth is that there are no standard vocational school & training centers within our area; the closest to our proposed location is about 10 miles away. In a nutshell, we do not have any direct competition within our target market area.

Some of the threats that are likely going to confront Richmond Jones® Vocational Training Center, LLC are unfavorable government policies , seasonal fluctuations, demographic/social factors, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where our vocational school & training center is located.

7. MARKET ANALYSIS

• Market Trends

The truth is that any vocational school & training center that has good records and loads of positive testimonials from students who have passed through the school will always thrive.

Another common trend in the industry is that in the bid to survive global economic meltdown and to ensure steady flow of income to effectively run the business, most players in the industry engage in other related services. Some of them even go as far as establishing agency services to provide professional and certified pilots for clients and some also offer specialized training for executive students.

It is a known pattern that as unemployment declines, demand for courses provided by this industry will drop, as further education and training become less essential to finding employment. The national unemployment rate is expected to decrease significantly over 2017, posing a serious potential threat to the industry.

As a matter of fact, about half of total government postsecondary education comes from state governments while federal contributions comprise mostly of grants bestowed on universities to be used for specific research. A rise in government funding for universities will cause enrollment in technical and trade schools to grow, as government funding typically increases affordability for students who need education loans. Government funding for universities is expected to increase over 2017, representing a potential opportunity for the industry.

8. Our Target Market

Prior to choosing a location for our vocational school & training center, we conducted thorough feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings.

Essentially, the demographic and psychographic composition of those who require our services cut across individuals, school leavers, corporate organizations, aspiring entrepreneurs and religious organizations who need to acquire trade and technical skill sets.

• Our competitive advantage

In spite of the fact that vocational schools scale through hurdles before they are established does not mean that there are no real competitions in the industry. The truth is that no matter the line of business that you are involved in, as long as it is called business, you will definitely face one form of competition or the other and vocational school & training center is not an exemption.

So, if you are looking towards setting up this type of business, it is advisable to do your due diligence before launching the business if indeed you want to succeed.

Our competitive edge is that we have the ability to quickly adopt new technology, we have access to highly skilled workforce and our location is in fact one of our major strengths because we are located with the right demography for the kind of business we run.

Another strength that counts for us is the power of our team and management. We have a team that are considered experts in the vocational school & training center line of business, a team of hardworking and dedicated individuals.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Richmond Jones® Vocational Training Center, LLC is established with the aim of maximizing profits in the Trade and Technical Schools industry and we are going to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.

Richmond Jones® Vocational Training Center, LLC will generate income by offering the following services;

10. Sales Forecast

We are well positioned to take on the available market in and around Orange County – California and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow our vocational school & training center and our student base.

We have been able to examine the vocational school & training center, market we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Richmond Jones® Vocational Training Center, LLC, it is based on the location of our business and of course the wide range of related services that we will be offering;

• First Fiscal Year: $375, 000
• Second Fiscal Year: $650, 000
• Third Fiscal Year: $1 million

N.B : This projection was done based on what is obtainable in the vocational school & training center line of business and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same related services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing strategy adopted by Richmond Jones® Vocational Training Center, LLC is going to be driven basically by excellent customer service and quality training delivery. We will ensure that we build a loyal customer base.

We want to drive sales via the output of our jobs and via referral from our satisfied students. We are quite aware of how satisfied students drive business growth especially businesses like vocational school & training centers and related services.

Richmond Jones® Vocational Training Center, LLC is strategically located and we are going to maximize the opportunities that is available which is why we spent more to locate the business where it will be visible and accessible to our target market.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets.

Our goal is to grow Richmond Jones® Vocational Training Center, LLC to become the leading vocational school & training center in Orange County – California which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with in our line of business.

Richmond Jones® Vocational Training Center, LLC is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our vocational school & training center by sending introductory letters alongside our brochure to schools and other key stake holders in and around Orange County – California
• Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our business
• Post information about our vocational school & training center and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
• Place a small or classified advertisement in the newspaper, or local publication about our vocational school & training center and the services we offer
• Leverage on referral networks
• Advertise our vocational school & training center in relevant entertainment magazines, newspapers, TV and radio stations.
• Attend relevant expos, seminars, and business fairs et al to market our services
• Engage in direct marketing approach
• Encourage the use of Word of mouth marketing from loyal and satisfied students
• Join local chambers of commerce and industry and other relevant groups to market our services.

11. Publicity and Advertising Strategy

Richmond Jones® Vocational Training Center, LLC is set to create a standard for the vocational school & training center business not only in Orange County – California, but throughout the United States of America which is why we will go all the way to adopt and apply best practices to promote our business.

Good enough there is no hard and fast rule on how to promote a vocational school & training center business. Here are the platforms we intend leveraging on to promote and advertise Richmond Jones® Vocational Training Center, LLC;

• Encourage our loyal customers/students to help us use Word of Mouth mode of advertisement (referrals)
• Advertise our vocational school in relevant aviation magazines, local newspaper, local TV and radio stations
• Promote our vocational school online via our official website
• List our vocational school on local directories (yellow pages)
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et al to promote our brand
• Install our billboards on strategic locations all around Orange County – California
• Direct coupon mailing approach
• Distribute our fliers and handbills in target areas
• Ensure that all our staff members wear our customized clothes, all our mini – aircrafts, and official cars are customized and well branded.

12. Our Pricing Strategy

At Richmond Jones® Vocational Training Center, LLC we will keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance.

We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs. The prices of our training services and certifications will be same as what is obtainable in the open market.

• Payment Options

The payment policy adopted by Richmond Jones® Vocational Training Center, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation in the United States of America.

Here are the payment options that Richmond Jones® Vocational Training Center, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via mobile money platform
• Payment via Point of Sale Machines (POS Machine)
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for registering and services rendered without any stress on their part. Our bank account numbers will be made available on our website and promotional material.

13. Startup Expenditure (Budget)

If you are looking towards starting a vocational school & training center, then you should be ready to raise enough capital to cover some of the basic expenditure that you are going to incur. You will need money to secure a standard facility, acquire different types of training machines and equipment, acquire license and permits, relevant software apps and you will need money to pay your workforce and bills for a while until the revenue you generate from the business becomes enough to pay them.

We have been able to pull cash that will be enough for us to successfully launch a standard and government approved vocational school & training center in Orange County – California. The items listed below are the basics that we would need when starting our vocation school and trade center in the United States, although costs might vary slightly;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
• The total cost for hiring Business Consultant – $5,000.
• The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
• The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
• The total cost for leasing facility for the business – $150,000.
• The total cost for equipping our lab – $500,000
• Other start-up expenses including stationery – $1000
• Phone and utility deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $4,000.
• The cost of launching a website – $600
• The cost for our grand opening party – $15,000
• Miscellaneous – $5,000

Going by the report from the market research and feasibility studies conducted, we will need about seven hundred and fifty thousand ( 750,000 ) U.S. dollars to successfully set up a medium scale but standard vocational school & training center business in the United States of America.

Generating Funds/Startup for Richmond Jones® Vocational Training Center, LLC

Richmond Jones® Vocational Training Center, LLC is owned and managed by Richmond Jones and other members of the faculty. They are the financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

• Generate part of the startup capital from personal savings and sale of his stocks
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $350,000 ( Personal savings $300,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $400,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Richmond Jones® Vocational Training Center, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our vocation and trade training services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Richmond Jones® Vocational Training Center, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a standard facility and reconstructing the facility: Completed
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Purchase of training tools and equipment and supplies: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
• Creating official website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in various industries: In Progress

Related Posts:

• Preschool Business Plan [Sample Template]
• Private School Business Plan [Sample Template]
• Nursery School Business Plan [Sample Template]
• Language School Business Plan [Sample Template]
• CNA School Business Plan [Sample Template]

01 84 60 03 50

Training Center Business plan : free template

Welcome to Training Center Ltd! We are a dynamic and innovative training provider dedicated to empowering individuals and organizations with the knowledge and skills they need to succeed in today’s competitive world. With a comprehensive range of high-quality training programs and a team of experienced trainers, we are committed to delivering exceptional learning experiences and driving personal and professional growth.

At Training Center Ltd, we understand the importance of continuous learning and skill development. Whether you are an individual seeking to enhance your expertise or a company looking to upskill your workforce, we have a wide range of courses tailored to meet your specific needs. From technical training programs to soft skills workshops, our curriculum covers a diverse range of subjects, ensuring that participants acquire practical knowledge and valuable skills.

What sets Training Center Ltd apart is our unwavering commitment to excellence. We believe that education is a transformative force, and we strive to create a supportive and engaging learning environment. Our state-of-the-art training facilities are equipped with the latest technology and resources, enabling participants to engage fully in the learning process.

Our management team, comprising industry experts and seasoned professionals, brings a wealth of knowledge and experience to ensure the successful operation and strategic growth of Training Center Ltd. We are driven by a passion for education, a commitment to continuous improvement, and a focus on delivering exceptional customer service.

As we embark on this journey to transform lives through education and training, we invite you to join us. Explore our diverse range of training programs, connect with our experienced trainers, and unlock your full potential with Training Center Ltd. Together, let’s embrace the power of learning and achieve new heights of success

Need help with your business plan or forecast?

Call on an expert to help you realise your project.

Fast turnaround times , Attractive prices

Training Center Business plan: executive summary

Training Center Ltd is a dynamic and innovative company dedicated to providing high-quality training solutions for individuals and organizations. Our mission is to empower individuals with the knowledge and skills they need to succeed in today’s competitive world. With a team of experienced trainers and a wide range of comprehensive training programs, Training Center Ltd aims to become the go-to training provider in the industry.

In response to the growing demand for professional development and skill enhancement, Training Center Ltd has identified a lucrative market opportunity to establish a state-of-the-art training center. By offering a diverse portfolio of courses and leveraging cutting-edge technologies, we aim to attract a broad customer base and generate sustainable revenue streams.

Our target market includes both individuals seeking personal development and companies looking to enhance the skills of their employees. With our strategic location in a bustling commercial area and a robust marketing strategy, we are confident in our ability to reach our target audience effectively.

To ensure the success of Training Center Ltd, we have outlined a comprehensive business plan that encompasses several key elements. First and foremost, we will focus on delivering exceptional training programs that are tailored to meet the specific needs of our clients. From soft skills training to technical courses, our curriculum will cover a wide range of topics, providing comprehensive and practical knowledge.

Moreover, Training Center Ltd will invest in creating a modern and comfortable learning environment. Our training facilities will be equipped with the latest technology and learning resources, enabling participants to engage fully in the learning process. Additionally, we will provide flexible scheduling options to accommodate the diverse needs of our clientele.

In terms of marketing and promotion, Training Center Ltd will utilize various channels to raise awareness and attract potential customers. Our digital marketing strategy will include search engine optimization (SEO), social media campaigns, and targeted online advertisements. We will also establish strategic partnerships with educational institutions and industry influencers to expand our reach.

Financially, we have projected conservative yet realistic revenue targets for the first three years. Our pricing strategy is competitive, considering the value we offer through our high-quality training programs. By closely monitoring our expenses and continuously seeking cost optimization opportunities, we expect to achieve profitability by the end of the second year of operation.

Training Center Ltd is poised to disrupt the training industry by providing comprehensive, practical, and cutting-edge training solutions. With a strong focus on customer satisfaction, a diverse course portfolio, and a strategic marketing approach, we are confident in our ability to capture a significant market share and establish Training Center Ltd as a leader in the industry.

In the following sections of this business plan, we will delve into the specifics of our marketing strategy, operational framework, financial projections, and growth plans. We invite you to join us on this exciting journey as we strive to transform lives through education and training

Other business plans in the same category

Driving School

Training center business plan: product and service.

At Training Center Ltd, we pride ourselves on delivering a diverse range of high-quality training programs and services to meet the evolving needs of our clients. We understand that each individual and organization has unique requirements, and we aim to provide tailored solutions that drive personal and professional growth. Our comprehensive offerings cover a wide spectrum of subjects, ensuring that participants gain valuable skills and knowledge to excel in their respective fields.

• Professional Development Courses: We offer a variety of professional development courses designed to enhance skills and competencies across different industries. From leadership and communication to project management and sales training, our expert trainers deliver engaging and interactive sessions that equip participants with the practical tools needed for success. These courses are suitable for both aspiring professionals and seasoned executives looking to refine their skill sets.
• Technical Training Programs: In response to the increasing demand for technical expertise, Training Center Ltd provides comprehensive technical training programs. Whether it’s coding, software development, data analysis, or graphic design, our courses are designed to equip participants with in-demand technical skills. With a focus on hands-on learning and real-world applications, we ensure that participants develop a strong foundation in their chosen technical field.
• Soft Skills Workshops: We recognize the importance of soft skills in personal and professional growth. Our soft skills workshops cover a wide range of topics, including effective communication, time management, teamwork, and problem-solving. These interactive sessions are designed to foster personal development and empower individuals with the essential skills needed to thrive in the modern workplace.
• Customized Training Solutions: In addition to our standard course offerings, Training Center Ltd provides customized training solutions tailored to the specific needs of organizations. We work closely with our corporate clients to understand their unique requirements and develop customized training programs that address their challenges and goals. This personalized approach ensures that our clients receive maximum value from their training investment.
• Certification Programs: We offer a selection of certification programs in collaboration with renowned industry partners. These certifications validate the skills and knowledge acquired through our training programs, enhancing participants’ professional credentials and career prospects. Our certification programs cover various fields, providing individuals with recognized credentials that enhance their marketability.
• Training Resources and Materials: To support our training programs, Training Center Ltd provides participants with comprehensive training resources and materials. These resources include course materials, reference guides, practical exercises, and online learning platforms, allowing participants to continue their learning journey beyond the classroom. We believe in providing participants with the tools they need to reinforce their learning and apply their newly acquired skills.

At Training Center Ltd, our commitment to excellence ensures that our products and services meet the highest standards of quality. We continuously update our course offerings to align with industry trends and advancements. Additionally, our trainers are seasoned professionals with extensive industry experience, ensuring that participants receive relevant and up-to-date knowledge.

Whether individuals seek personal development or organizations aim to enhance the skills of their workforce, Training Center Ltd is dedicated to providing comprehensive, practical, and transformative training solutions. We believe in the power of education to drive success and are passionate about empowering individuals and organizations to achieve their full potential

Training Center Business plan: market analysis

Understanding the market landscape is crucial for the success of Training Center Ltd. A comprehensive market analysis allows us to identify potential opportunities, assess competition, and develop effective strategies to capture our target audience. In this section, we will delve into the key aspects of our market analysis.

1. Market Size and Growth: The training industry has experienced significant growth in recent years, fueled by the increasing demand for skill development and continuous learning. According to market research, the global corporate training market is projected to reach $370 billion by 2027. This growth is driven by factors such as technological advancements, evolving job market requirements, and the recognition of the value of employee training and development.

2. Target Market: Training Center Ltd caters to a diverse target market, including both individuals and organizations. On an individual level, our target audience consists of professionals seeking personal and professional development to enhance their skills and advance their careers. This includes recent graduates, mid-career professionals, and individuals in career transitions.

On the organizational front, our target market comprises companies from various industries that recognize the importance of investing in employee training and development. These organizations aim to upskill their workforce, improve productivity, and maintain a competitive edge in the market. By tailoring our programs to meet the specific needs of both individuals and organizations, we can effectively penetrate our target market.

3. Competitive Analysis: 

The training industry is highly competitive, with numerous players offering a wide range of training programs and services. As Training Center Ltd enters the market, we must identify our competitive advantages and differentiators to stand out from the crowd. Key factors that set us apart include:

a. Comprehensive Course Portfolio: Our diverse range of training programs covers various industries, including both technical and soft skills training. This breadth of offerings allows us to attract a wide customer base and address the evolving needs of individuals and organizations.

b. Experienced Trainers: We pride ourselves on employing highly qualified and experienced trainers who bring industry expertise and real-world insights to our training programs. Their ability to connect with participants and deliver engaging sessions differentiates us from competitors.

c. Cutting-Edge Facilities and Technology: Training Center Ltd invests in creating a modern and comfortable learning environment. Our training facilities are equipped with state-of-the-art technology, enabling participants to engage in immersive and interactive learning experiences.

4. Marketing and Promotion: 

To effectively reach our target audience, we will implement a multi-channel marketing strategy. This strategy includes online and offline channels, such as:

a. Digital Marketing: We will leverage search engine optimization (SEO) techniques to improve our online visibility and attract organic traffic. Additionally, we will employ social media marketing, content marketing, and targeted online advertisements to raise awareness about our training programs.

b. Strategic Partnerships: Training Center Ltd will establish partnerships with educational institutions, industry associations, and corporate entities. These partnerships will help us expand our reach, access new markets, and enhance our credibility within the industry.

c. Networking and Events: We will actively participate in industry conferences, trade shows, and networking events to connect with potential clients and build relationships within the training industry.

5. Market Trends: 

Staying abreast of market trends is essential for Training Center Ltd to adapt and respond to changing customer needs. Key trends that we are monitoring include:

a. Online Learning: The rise of e-learning platforms and online training has provided learners with greater flexibility and accessibility. Training Center Ltd will incorporate online learning components into our programs to cater to this growing trend.

b. Customized Training Solutions: Organizations increasingly seek customized training programs tailored to their specific requirements. By offering personalized training solutions, we can cater to this demand and differentiate ourselves in the market.

c. Focus on Soft Skills: Soft skills such as communication, leadership, and emotional intelligence are becoming increasingly important in the workplace. Training Center Ltd will continue to prioritize soft skills training to meet the evolving needs of individuals and organizations.

In conclusion, the market analysis reveals a promising landscape for Training Center Ltd. The growing demand for training and development, coupled with our unique offerings and strategic marketing initiatives, positions us for success. By understanding our target market, assessing competition, and aligning with market trends, we are confident in our ability to capture a significant market share and become a trusted training provider

Training Center Business plan: Marketing & Sales Strategy

A well-defined marketing and sales strategy is essential for Training Center Ltd to effectively reach and engage our target audience. By implementing a comprehensive approach that combines online and offline tactics, we aim to create strong brand awareness, attract potential customers, and convert leads into loyal clients. In this section, we will outline our key marketing and sales strategies.

1. Online Marketing:

a. Website Optimization: We will invest in search engine optimization (SEO) techniques to improve our website’s visibility in search engine results. By optimizing relevant keywords, creating high-quality content, and ensuring a user-friendly website experience, we will attract organic traffic and increase our online presence.

b. Content Marketing: Our content marketing strategy will involve creating valuable and informative content that addresses the needs and interests of our target audience. Through blog posts, articles, and educational resources, we will position Training Center Ltd as an industry authority and build trust with potential customers.

c. Social Media Marketing: We will leverage various social media platforms to engage with our target audience and promote our training programs. By sharing informative content, success stories, and testimonials, we will create a strong online community and foster meaningful connections with potential clients.

d. Email Marketing: To nurture leads and maintain communication with our audience, we will implement targeted email marketing campaigns. By providing personalized content, exclusive offers, and updates on upcoming courses, we will strengthen relationships and encourage repeat business.

2. Offline Marketing:

a. Networking and Partnerships: We will actively participate in industry events, conferences, and seminars to establish connections with key stakeholders and potential clients. Additionally, we will seek strategic partnerships with educational institutions, industry associations, and corporate entities to expand our reach and access new markets.

b. Print Collateral: We will create visually appealing and informative brochures, flyers, and business cards to distribute at relevant locations, such as educational centers, co-working spaces, and industry-specific events. These print materials will showcase our training programs and highlight our unique value proposition.

c. Referral Programs: Word-of-mouth marketing is a powerful tool, and we will implement referral programs to incentivize our satisfied clients to recommend Training Center Ltd to their colleagues, friends, and professional networks. This will help us tap into new customer segments and build a strong referral network.

3. Sales Strategy:

a. Consultative Approach: Our sales team will adopt a consultative approach, understanding the unique needs of potential clients and recommending the most suitable training solutions. By actively listening and providing tailored recommendations, we will position ourselves as trusted advisors and build long-term relationships.

b. Customized Proposals: For corporate clients, we will create customized proposals that align with their specific training requirements. These proposals will highlight the benefits of our programs, including the impact on employee performance, productivity, and overall organizational success.

c. Exceptional Customer Service: We prioritize delivering exceptional customer service throughout the entire customer journey. From initial inquiries to post-training support, we will ensure prompt and personalized assistance, creating a positive experience that encourages customer loyalty and repeat business.

4. Tracking and Analysis:

We will implement robust tracking and analysis methods to measure the effectiveness of our marketing and sales efforts. Key metrics such as website traffic, lead conversion rates, customer acquisition costs, and customer satisfaction will be monitored regularly. This data will enable us to make data-driven decisions, refine our strategies, and optimize our marketing and sales campaigns.

In conclusion, Training Center Ltd’s marketing and sales strategy encompasses a comprehensive blend of online and offline tactics. By leveraging the power of digital marketing, building strong industry connections, and prioritizing exceptional customer service, we are confident in our ability to effectively reach our target audience, build brand recognition, and drive revenue growth

Training Center Business plan: The Management Team

At Training Center Ltd, our success is driven by our dedicated and experienced management team. Each member brings a wealth of knowledge and expertise to their respective roles, ensuring the efficient operation and strategic growth of our organization. In this section, we will introduce our key management team members and their responsibilities.

• John Smith (Founder and CEO): John Smith, the founder of Training Center Ltd, serves as the Chief Executive Officer (CEO) of the company. With over 15 years of experience in the training and education industry, John possesses a deep understanding of the market dynamics and customer needs. He is responsible for setting the overall strategic direction of the company, overseeing day-to-day operations, and ensuring the delivery of high-quality training programs. John’s visionary leadership and commitment to excellence drive the growth and success of Training Center Ltd.
• Jane Davis (Director of Training Programs): Jane Davis, our Director of Training Programs, brings a strong background in curriculum development and instructional design. With a master’s degree in education and a passion for creating impactful learning experiences, Jane leads a team of trainers and subject matter experts in designing and implementing our comprehensive training programs. She is responsible for ensuring the relevance, quality, and effectiveness of our course offerings. Jane’s expertise in instructional design and commitment to continuous improvement contribute to the exceptional learning outcomes achieved by our participants.
• Mark Johnson (Director of Operations): Mark Johnson serves as the Director of Operations at Training Center Ltd. With a proven track record in operations management, Mark oversees the day-to-day functioning of our training center, including facility management, logistics, and customer support. He ensures that our training facilities are equipped with the necessary resources, technology, and infrastructure to deliver a seamless and comfortable learning experience. Mark’s attention to detail and commitment to operational efficiency contribute to the smooth functioning of Training Center Ltd.
• Sarah Thompson (Marketing Manager): Sarah Thompson, our Marketing Manager, brings a wealth of experience in developing and executing successful marketing strategies. With expertise in digital marketing, branding, and lead generation, Sarah is responsible for raising awareness about our training programs, driving customer acquisition, and enhancing our brand presence. She oversees our online and offline marketing initiatives, manages our digital platforms, and collaborates with the sales team to generate qualified leads. Sarah’s creative approach and data-driven mindset contribute to the effective positioning and promotion of Training Center Ltd.
• Michael Roberts (Finance Manager): Michael Roberts serves as our Finance Manager, responsible for overseeing the financial operations of Training Center Ltd. With a strong background in finance and accounting, Michael ensures the financial stability and profitability of the company. He manages budgeting, financial planning, cash flow management, and financial reporting. Michael’s analytical skills and attention to detail enable him to provide accurate financial insights and make informed financial decisions.

Each member of our management team plays a crucial role in driving the growth and success of Training Center Ltd. Their combined expertise, dedication, and passion for education and training create a strong foundation for our organization. Together, they work collaboratively to deliver exceptional training experiences, achieve operational excellence, and position Training Center Ltd as a leader in the industry

Training Center Business plan: Financial forecasts or projections

Accurate financial forecasts and projections are vital for the success and sustainability of Training Center Ltd. By analyzing key financial metrics and market trends, we have developed the following projections for the next three years.

1. Revenue Projections: Our revenue projections are based on a combination of factors, including the pricing of our training programs, the projected market demand, and our marketing and sales strategies. We anticipate a steady growth in revenue as we establish our brand and expand our customer base. The revenue projections for the next three years are as follows:

Year 1: $500,000 Year 2: $750,000 Year 3: $1,000,000

2. Cost of Goods Sold (COGS): The cost of goods sold for Training Center Ltd primarily includes the direct costs associated with delivering our training programs. This includes trainer fees, course materials, and technology expenses. We project our COGS to be approximately 40% of our revenue in the first year, with a slight decrease in subsequent years due to economies of scale and operational efficiencies.

3. Operating Expenses: Operating expenses encompass various overhead costs necessary for running our training center and supporting our operations. These expenses include rent, utilities, marketing expenses, salaries, and administrative costs. We have projected our operating expenses based on industry benchmarks and conservative estimates. We anticipate a gradual increase in operating expenses as we scale our operations and expand our marketing efforts.

4. Net Profit: Based on our revenue projections and estimated costs, we have calculated the net profit for each year. We aim to achieve profitability by the end of the second year. The projected net profit for the next three years is as follows:

Year 1: -$50,000 (Net loss due to initial investment and start-up costs) Year 2: $50,000 Year 3: $150,000

5. Cash Flow: Managing cash flow is crucial for the sustainability of Training Center Ltd. We have carefully projected our cash inflows and outflows to ensure a positive cash flow position throughout the forecasted period. By closely monitoring our collections, payment terms, and managing expenses effectively, we aim to maintain a healthy cash flow to support our operations and growth.

6. Break-Even Analysis: Determining the break-even point is essential to understand the milestone at which our revenue covers all our costs. Based on our pricing structure and projected costs, we estimate that Training Center Ltd will reach the break-even point in the first half of the second year.

These financial forecasts and projections are subject to market conditions and various external factors. We will continually review and update our projections based on actual performance and market dynamics to ensure accuracy and adjust our strategies accordingly.

It’s important to note that these projections are based on reasonable assumptions and historical data. However, the actual financial performance of Training Center Ltd may vary due to factors beyond our control. We will regularly track and evaluate our financial metrics, making necessary adjustments to optimize profitability and ensure long-term sustainability

Share this post

Subscribe to our newsletter, autres articles qui pourraient vous intéresser.

Dry Cleaning Business Plan : free template

In the bustling world we live in, where time is of the essence and quality is paramount, (Dry Cleaning Ltd) emerges as

Bounce House Business Plan : free template

Welcome to an in-depth exploration of the exciting world of (Bounce House Ltd), where imagination knows no bounds and joyful memories are

Dairy Farm Business Plan : free template

In the ever-evolving landscape of the dairy industry, innovation, sustainability, and a strong strategic foundation are paramount for success. Welcome to a

Concrete Polishing Business Plan : free template

In a world where aesthetics, sustainability, and durability are paramount, the concrete polishing industry has emerged as a game-changer. Welcome to an

Convenience Store Business Plan : free template

In an ever-evolving world where time is of the essence and convenience is paramount, the role of a well-executed business plan cannot

Auto Parts Store Business Plan : free template

In a world where vehicles are an integral part of daily life, the demand for reliable auto parts and accessories continues to

© Societefacile.com 2023. All rights reserved.

You need a business plan or forecast!

Call on a specialist to help you with this tedious task

Reasonable rates

How to Create a Business Plan for a Training Center

by Ruth Mayhew

Published on 21 Nov 2018

The key to convincing investors, such as banks, to invest in your business, is to construct a business plan that demonstrates you have business acumen and that you know the industry. Constructing a solid business plan isn't difficult, but it does require deep expertise about the type of business or industry and knowledge of how businesses start, operate and grow. To launch a training center, create a business plan that proves you are qualified, experienced and have a passion for the training industry.

Training-Specific Qualifications

Creating a business plan for a training center requires that you have expertise or experience in operating one. Perhaps you have been the operations manager for a successful training center and you're ready to take the leap into starting your own center. Otherwise, you will need a team of colleagues whose collective experiences compel investors to want to share in your future success. According to Training Industry magazine, several critical steps to starting a training business include acquiring the credentials necessary to prove that your industry knowledge and credibility is sound. Training credentials can range from certifications or licenses in specific areas, such as IT security networks, to advanced degrees in adult education. If you don't personally have these credentials, you must have a team that does. That said, if you have training credentials, your business plan will carry more weight because you are spearheading an endeavor based on your industry-specific knowledge, which can be far more credible than simply hiring people with this expertise.

Food For Thought and Paper

Before you put pen to paper to create a business plan, your self-assessment will determine whether you actually are prepared to operate and own a training center. Questions such as, "If I cannot get investors' commitments, am I prepared to fund this endeavor from business loans or my personal savings?" and "What are the specific types of services that my training center will provide, and is there an opportunity for this training center in my area?" and "If the market is currently flooded with other training centers, what niche can I create, based on my own expertise and differentiation of services?"

Business Plan Components

Constructing a business plan isn't something you complete in an afternoon or even a day. Your research and analysis alone will take time to compile, and while you might be well-connected to the training community, if this is your first foray into the training industry or owning a business, you might need expert guidance in one or both areas. According to Forbes, basic components of a business plan include analyses of the future company, the industry and the competition. In addition, your business plan should include an analysis of your potential customers and the type of marketing your research shows will be most effective. Traditional business concepts, such as who is managing this effort, how you plan to operate the business and how you're going to fund it, are critical points to address in your business plan. When you complete the draft business plan for your training center, write an executive summary that answers this question: "Why do you believe your training center is different from all the others?"

Focus on the Specificity

You will find a plethora of business plan templates on the internet. Ensure that yours specifically says why your training center business concept will succeed when others have not, to maintain your investors' interest. For example, projections about your future training center should focus on what's presently available and accessible, therefore, your analysis should address physical space necessary. Is there even room in your geographic area to support another training center? Determine whether you are offering on-site training, remote training broadcast from one location or a hybrid model that combines classroom training and computer-based training, or CBT. That will determine the physical space you need to launch another training center in the area.

Describe your market, such as how many training centers are currently in existence, how many participants – according to job-specific areas – are in the market. For example, if your training center is dedicated to serving allied health care professionals such as nuclear-medicine technologists, dietitians or respiratory therapists, how many training centers are in the market? The rate at which they are producing graduates and if there are prospective students who do not have access to training is critical data that are particularly useful to your business plan. Your research could include the acceptance and graduation rates of existing training centers in the area versus the numbers of applicants or prospective students. Perhaps the demand is greater than what the existing training centers can accommodate. That is just the first part of the equation because the second and equally important factor is this: If the demand is great, do you have the ability to source and recruit qualified instructors to provide the training your center offers?

Let's Talk Money

A business plan is sorely lacking without a detailed analysis and discussion about funding. Entrepreneur Magazine says that a business plan should project costs for three-to-five years and include start-up costs, operating expenses and projections so that investors can see where their money will be spent, and what their return on investment will be. Your business plan should include projections in a balance-sheet-like format, which also demonstrates that you understand basic business concepts. If finance isn't in your wheelhouse, collaborate with an expert to present the financial picture for your training center.

The Proof Is in the Details 

Like other business reports, your business plan should include an appendix. The appendix includes documents that support every section of your plan, and, if appropriate, include your market research data. For example, if you have identified key personnel for your training center such as a training director, an operations director or a financial management professional, include their resumes and credentials in your business plan. In addition, state whether your business requires petitioning for jurisdictional business-or-land-use permits.

The final step is your executive summary, which you should write only after you have completed the final business plan. Many investors will take the time to read just a one-to-two-page executive summary, so it must include enough information to compel them to read the entire business plan or to make a decision based on a well-thought-out and well-written business concept. Your executive summary should answer the question, "Why do you believe your training center is different from all the others?"

A Step-by-Step Guide to Building a Business Case for Learning and Development

Tl;dr: how to deliver an effective business case for learning.

• Research: Start by researching the main business challenges and strategic initiatives to identify where training can have the greatest impact.
• Form Alliances:  Form partnerships with key stakeholders, like department leaders, to formulate plans that tie back to tangible work in the organizations.
• Compile Options:  Gather all your material to formalize good, better, and best options that you'll present to senior leadership.
• Predict ROI:  With plans all but complete, estimate the potential ROI for your solutions. Weigh the costs against the risks and benefits.
• Present: Present your solutions to stakeholders, senior leadership, employees, and anyone else who stands to benefit from learning programs. Winning your case helps position the organization for growth.

Anyone who's dealt with budget cuts knows the frustration and stress of making do with less. Unfortunately, learning and development dollars seem to be one of the first cost-cutting areas when times are tough.

Tech executives who participated in Skillsoft's annual IT Skills and Salary survey say budget and resource constraints are the greatest challenge they face this year, followed by workload and talent retention. The first challenge, tight budgets, also impacts the latter two, creating a vicious cycle of divestment that hurts business and operations.

"When there isn't as much of an emphasis on learning and development, you certainly see a higher turnover rate and that attrition comes at a very high cost," said Bill Anderson, digital services training specialist at Corewell Health. "So, in essence, it has the opposite effect of what you're really trying to accomplish. That investment in learning and development will certainly pay back in lower attrition."

There are steps department heads can take to help prevent budget cuts because ultimately learning and development helps close gaps but also anticipates what skills the organization will need to remain competitive long term. For those leading these departments, the objective is to both educate and persuade executives that talent development can help more than hurt during lean times.

This win-win scenario unfolded at Corewell Health after a significant merge that  created Michigan's largest hospital system . Editor's note:  Corewell Health is a Skillsoft customer.

With the merge came a complex consolidation effort to cut costs, reduce duplicative efforts, and unify the two organizations. Virtually every aspect of the organization was under consideration, including technical training.

According to Anderson, the learning and development team managed to protect its training investments by building and presenting  an effective business case to leadership . It was a win for the learning team, but also a win for an organization focused on delivering modern, technology-powered experiences for employees and patients.

Here's how they did it:

Step 1: Research Strategic Priorities and Business Challenges

Building a compelling business case for learning starts with research. You want to have a thorough understanding of what the organization is going through and how that impacts goals. For this first step, ask questions and dig deep. You want to connect the top-level challenges to outcomes — good and bad.

For example:

Consider how  onboarding new technology without training could cause a ripple effect throughout the organization.

⬇️ The IT department onboards a new vendor. 

⬇️ Without training, employees don't know how to use it. 

⬇️ Adoption suffers, and some employees buy different solutions.

❌ IT doesn't see the ROI or meet its goal; organization takes on more risk.

In the scenario above, training could help in a big way. Telling the inverse of this story would show a clear need for learning programs that ultimately benefit different areas of the organization.

Where to Focus Your Research

By understanding the broader landscape and best practices, professionals can understand where training can have the greatest impact and tell why. Getting intel on what's listed below will help identify the organization's specific needs and demonstrate how targeted training can effectively address these areas. And remember, drill down.

Internal research:

• Current business challenges
• Current and future strategic initiatives
• New deployments
• Employee performance
• Retention rates
• Existing gaps in current skills
• Desired future skills or certifications

External research:

• Industry benchmarks
• Competitor training initiatives
• Published studies on the benefits of training

Subscribe to the Skillsoft Blog

We will email when we make a new post in your interest area.

Select which topics to subscribe to:

Thanks for signing up!

Step 2: formulate a solution with stakeholders.

After gathering data and doing your research, it's time to visit with other department leaders who will likely benefit the most from training.

Department leaders across the business serve as both your stakeholders and your supporters when making the case to executive leadership. In essence, you must form a partnership with these leaders to ensure alignment between their department initiatives and the training that you will deliver. Doing so helps measure the readiness of the department against its intended goal and lends more tangibility to your case for learning.

You want to understand: 

• What their challenges and needs are
• Their expectations for training programs
• Impressions of third parties and vendors
• What skills or certifications they're focused on
• What vacancies they have on their teams

...And more. The more you know, the better.

Along the way, take notes and compile your evidence. Documenting your findings ensures all insights, data, and analyses are ready to share with others. When working with department leaders, thorough documentation can also demonstrate transparency and facilitate collaboration.

Step 2.1: Assemble a Team of Skill Champions

Through meticulous research, professionals can compile a data-driven, persuasive case that aligns organizational goals with training and demonstrates the value of L&D initiatives.

But what's it all for if adoption is low or employees don't see the value in it?

It's worth reiterating the importance of connecting with stakeholders early in this process and assembling a cohort of champions who not only see the value of training but also spread the word.

"We were fortunate enough to have a portion of our business that had already been using Skillsoft Percipio for learning and development," Anderson said. "So that word of mouth from those team members already using Skillsoft was very helpful when we went to extend training to our entire IT team."

Step 3: Form Your Argument with Good, Better, Best Options

By this step, you've done your internal and external research, met with department leaders, and you have a clear understanding of the organization's strategic priorities and key challenges.

Now, it's time to prescribe training as a solution in support of the organization. And it helps to offer options that illustrate the impact training investments can have at varying levels.

Providing several scenarios allows stakeholders to compare various approaches and their implications. This comparison should include both internal solutions, like leveraging in-house expertise and resources, and external options, such as partnering with specialized training providers.

What Does Good Look Like?

With a low investment, learning and development teams can support modest training programs that help meet compliance requirements and build select skills among a cohort of employees. 

The Pros and Cons: By keeping costs low, the upfront investment doesn't burden the organization while also meeting compliance and some skilling requirements. However, the solution may not scale easily, which makes it tough to forecast future needs, and the program may only benefit a limited number of employees and stakeholders.

What Does Better Look Like?

With more investment, learning and development teams can begin to scale learning programs more easily and offer more training to more employees.

The Pros and Cons:  While the cost is higher, training programs have a wider impact on the organization and stakeholders (employees, patients, customers, etc.). Programs scale more easily, and it becomes easier to see the short- and long-term impact of training at an organizational level, including cultural and behavioral changes.

What Does Best Look Like?

With a best-case-scenario investment in training, learning and development teams can deploy and support enterprise-level programs that are measured, optimized and scaled.

The Pros and Cons:  The upfront cost of this option is the highest, creating the most burden for the organization. However, the investment will pay the organization back in time through a range of dividends, including closed skill gaps, more productive employees, faster product development and time to market, and higher employee satisfaction.

By evaluating these options, stakeholders can make informed decisions that balance costs, benefits, and risks. Presenting a range of solutions also demonstrates to stakeholders the strategic approach to delivering effective training programs that solve business challenges.

Don't be Shy About the Benefits of Learning

Especially in tech, department leaders today struggle with talent recruitment and retention, developing stronger teams, innovation and change management, workload and more. And because of skill gaps, employees feel more stress, projects slow down, and business objectives falter.

All of these challenges can be solved — at some level — with investments in learning and development.

According to  Skillsoft's IT Skills and Salary Report , tech leaders say these are the top benefits of training:

• Improves team morale
• Shortens project durations
• Improves talent retention
• Makes it easier to attract talent
• Increases revenue
• Increases ability to innovate

Step 4: Estimate Your ROI of Training Investments

In L&D, demonstrating a return on investment is often difficult. Sometimes, the metrics aren't there. Or the effort is too cumbersome. But there are ways to simplify the process and still make your case.

The team at Corewell Health created a process that helped them assign a dollar value to training, which substantially strengthened their case for learning. The learning and development team looked at the resources being consumed and assigned dollar values to them.

For example, if learners accessed a book in Skillsoft Percipio, they cross-checked what it would cost for the individual to buy it outside of the subscription. They added up all the times a person accessed that book and totaled the cost. They took the same approach to other resources, including courses, labs and so on.

It looked like this:

Cost of books + Cost of courses + Cost of Labs + Cost of Certification Prep + = Cost of Training Resources

Cost of Training Resources x Number of Accesses = Gross Training Cost

From there, you'd identify the cost savings by comparing the "gross training cost" to, in this case, the cost of the training subscription. 

"Money talks," Anderson said. "What I found in our situation was our leadership really wanted to know how much money we were saving by taking classes with Skillsoft rather than taking them at other institutions. That really ended up being a great measurement to show how our team was adopting this tool."

When they tallied up the cost savings using this method, Corewell Health saved about $150,000. Anderson said a range of metrics can work in building your case, including  skill assessments , course or journey completions, badges earned, and gamification or leaderboards to show participation.

Other ways to show cost-savings include weighing the training investment against estimated recruiting costs or that of managed services, and the cost of team vacancies.

Read Next:  Measure Mastery: How Interactivity Showcases Earned Skills - Skillsoft

Step 4.1: Anticipate Opposition and Risks

From a business perspective, senior leaders want to keep costs low and benefits high. And when costs become too much, they have difficult decisions to make. During such times, leaders might see learning programs as less critical than other areas that can have short-term or immediate impact on the bottom line, ultimately diverting money away from these programs.

Corporate training programs often require an upfront investment in both time and resources, with benefits that may not be immediately visible. Additionally, skepticism fuels opposition. Some leaders may doubt the impact of training, questioning whether it translates into measurable business outcomes. This skepticism can be reinforced by past experiences with poorly executed training programs that failed to deliver.

Convincing senior leadership to overcome these reservations requires presenting a thorough argument that clearly demonstrates the success and ROI of well-implemented training programs and how the team helps anticipate future business needs. By preemptively acknowledging these concerns and providing compelling evidence to counter them, L&D leaders can build a stronger, more persuasive case for investing in learning.

Step 5: Present Your Case for Learning to... Everyone

Arguably the most important part of undertaking this effort is spreading the word throughout your organization because training can (and does) have a tremendous impact on developing new leaders, securing coveted skills, and fostering a  vibrant company culture . As you present your case, it's important to consider your audiences and what they care about.

"Understanding your audience and communicating value effectively can significantly enhance the impact of your business case," writes Cathy Hoy, CEO of CLO100.

Hoy recommends  presenting your case for learning  using a flow like this:

• Executive Summary  — Condense the presentation and list key takeaways.
• The Business Challenge — Call out what hurts the business today.
• The Benefits   — Answer what the organization gains by implementing the solution.
• The Risks — Get in front of the risks or concerns people may have and refute them.
• The Costs — Address what the investment costs the organization and why. Include the estimated ROI.
• The Timeline  — Communicate what people should expect and when.
• The Call-to-Action  — Articulate what you need from your stakeholders and ask for it directly.

As you embark on the campaign trail, tailor your messages to the respective audience. Pro tip:  Constantly ask yourself, "what's in it for them?"

Your Message to Executives — Communicate how training aligns with strategic business goals both now and in the future, highlighting the financial benefits and ROI over time. Their buy-in secures funding and protects your investments.

Your Message to Department Leaders — Show how training can lead to outcomes they care about, like improved team performance, while supporting the organization's overarching mission. Their buy-in ensures smoother implementation and ongoing support.

Your Message to All Employees — Educating the broader workforce about the value of ongoing learning fosters a culture of continuous improvement. When employees see how training will benefit them — career advancement, improving performance, etc. — they are more likely to participate. Their buy-in ensures the adoption of training programs, the closure of skill gaps, and more systemic outcomes, like higher morale, lower attrition, and more.

An Effective Business Case Protects Investments, Secures Budget

When done well, an effective business case for learning can protect hard-won learning programs and demonstrate to leadership the impact training can have on powerful outcomes, like customer and employee satisfaction, productivity, and more.

However, it takes time to build a thorough case — especially alone. Doing so with support from other areas of the business will strengthen the argument for learning while also decentralizing the planning and execution process. This will help while building a case, but also when the case has been won.

If you're building a case for your programs, consider reviewing Skillsoft's Total Economic Impact Studies, commissioned through Forrester Consulting. Each of these studies shows the potential return on investment a composite organization would realize by investing in Skillsoft training.

• Total Economic Impact of Skillsoft Technology and Developer Solutions
• Total Economic Impact of Skillsoft Compliance Solutions
• Total Economic Impact of Skillsoft Leadership and Business Solutions

Further, this year's  Lean Into Learning Report and  IT Skills and Salary Report dive deep into training data and industry trends to help inform L&D strategy. Use resources like these to bolster your argument in favor of training.

Embracing Mental Health in the Workplace

How AI-Driven Skilling Scenarios Can Benefit Your Business

6 Reasons to Track Skills Development

Subscribe to Blog

Thinkific Plus

How to start a training business: a comprehensive guide to success, share this article.

Imagine standing on the edge of a vast field, one that’s fertile and primed for cultivation. This field represents the training business landscape, brimming with potential and ripe for cultivation by the right entrepreneur. 

Starting a training business requires preparation, careful planning, diligent maintenance, and a touch of creativity.

There’s no better time to seize this opportunity, particularly considering the high demand for training services. From professional skill enhancement to personal development, more people than ever are looking for comprehensive, accessible training to help them reach their goals. This demand is expected to increase further in the coming years, making it a potentially lucrative venture for those who are ready to till the soil.

Skip ahead: 

Identify Your Niche

Create a business plan, legal considerations, establish your training center or online platform, develop your training programs and curriculum, marketing your training business, measure success and refine your strategy, tips for growing your training business, frequently asked questions, steps to starting a training business.

Venturing into the vast field of starting a training business might seem daunting at first glance. However, breaking it down into manageable steps can help make the task less overwhelming and more approachable. 

Each step represents a crucial part of the process, from the initial stages of identifying your niche to creating a business plan to finally measuring your success and refining your strategies. Keeping track of these steps not only ensures that no important detail is overlooked but also facilitates a smooth and organized business setup.

Choosing your niche can be intimidating, but it’s absolutely critical to the success of your business. 

This vital first step begins with an assessment of your skills and expertise. Are there certain areas of knowledge or skills you’ve amassed that could prove beneficial to others? 

Perhaps you have years of industry-specific experience or an advanced degree in a specialized field, which you can then channel into the training landscape.

In addition to understanding your expertise, it’s crucial to analyze market demand for your chosen niche and scrutinize both existing and potential competition. 

This entails conducting a rigorous research process to grasp the specific needs, interests, and preferences of potential learners. 

• Are there sufficient individuals interested in your area of expertise? 
• How can your offerings stand apart in the current competitive landscape? 

The insights gleaned from this process will enable you to maximize the yield from your entrepreneurial field.

Related: Training Ideas Generator

Your business plan serves as your entrepreneurial guide, providing essential direction and structure for your training business. 

Begin with establishing your mission and vision, which convey the core purpose of your business and the future you aim to shape through your services.

Identifying your target audience is the next crucial step. By thoroughly understanding the demographics, preferences, and learning styles of your prospective clients, you can ensure your services are finely tailored to meet their needs. 

The business plan should also include measurable goals and milestones that will mark your progress on your entrepreneurial path. Whether it’s acquiring a specific number of learners in the first year or launching a designated number of courses, these goals serve as signposts to guide and inspire your efforts.

To develop a comprehensive business plan, consider including:

• Executive Summary: An overview of your business and plans.
• Company Description: Details about what your company does and who it serves.
• Market Analysis: An examination of your industry, target market, and competitors.
• Marketing and Sales Strategy: Your plans for attracting and retaining customers.
• Service Offerings and Pricing Structure: A detailed explanation of your services and pricing.
• Management and Organizational Structure: The structure of your company and the roles of each team member.
• Financial Projections and Funding Requirements : A projection of future revenues and expenses and details of funding requirements (if applicable).

Deciding on your business structure is akin to laying the foundational bedrock upon which you’ll sow the seeds of your enterprise. There are several options available:

• Sole Proprietorship: A simple structure for a single owner who wants to control all business decisions and responsibilities.
• Partnership: Suitable for businesses with multiple owners who share in the company’s profits and losses.
• Limited Liability Company (LLC): This structure limits owners’ liability for business decisions or actions of the LLC.
• Corporation: A complex structure that involves legal protection and requires a board of directors, corporate officers, and shareholders.

Each of these options comes with its unique benefits and drawbacks. It’s advisable to consult with a legal professional or business advisor to help you select the most appropriate structure for your training business.

Just as a farmer requires an optimal plot of land to sow their seeds, you too need to establish the ideal platform for your training services. This could be a physical training center or an online platform . 

Both come with distinct advantages, and the most suitable choice depends on your target audience, budget, and the nature of your training programs.

A physical location provides a conducive environment for in-person interactions and hands-on training. Conversely, an online platform enables you to cast your net wider, potentially attracting a global audience, and offers the added benefits of flexibility and convenience. You can also deliver a mix of in-person and online training.

It’s also worthwhile considering the investment in a user-friendly Learning Management System (LMS) or an online training platform to enhance your training delivery.

As you establish your training platform, you’ll also need to determine the method of delivery for your training. 

Will it be in-person workshops and seminars, online courses and webinars, or a blended learning approach that combines the two? 

The necessary technology, equipment, and software for your chosen delivery method should also be part of your consideration.

Developing your training programs and curriculum forms the heart of your training business. Your actual training materials need to be engaging and high-value, capable of inspiring your audience and helping them to achieve their goals.

The key to crafting effective training programs and courses lies is understanding your target audience. Delving deep into their needs, preferences, challenges, goals and learning styles can inform the structure and content of your training programs. 

• Would they thrive better in self-paced environments, or do they require the structure and guidance of an instructor-led program? 
• Would they value the weight of a certificate program or the flexibility and diversity offered by a series of short courses?

When developing your curriculum, it’s crucial to consider these factors, shaping your offerings around the unique requirements and aspirations of your learners. You should commit to regular updates to your training materials. 

By aligning your content with the latest trends, research, and industry practices, you maintain the relevance and value of your courses. 

This ensures your programs are not just a static product but a dynamic learning experience that evolves with the times and keeps your training business at the forefront of the industry.

Remember, a successful curriculum is not just about knowledge transmission; it’s about creating transformative learning experiences that empower your audience, helping them grow and flourish in their respective fields.

Marketing catalyzes growth in your business. Begin by building a strong brand identity that reflects your values and mission, creating an impression in the minds of your clients about your business.

Develop a marketing strategy that effectively leverages the right channels to reach your target audience. This could encompass a blend of traditional advertising and digital marketing techniques.

Harness the power of social media, content marketing, and Search Engine Optimization (SEO) to augment your online visibility. These tools can boost your engagement with potential clients and expand your digital footprint.

A robust marketing strategy might also involve developing a website and optimizing it for search engines. 

Utilize social media platforms and online forums to promote your training business and network with industry professionals and potential clients. 

Offering free resources or introductory workshops can demonstrate your expertise, generate interest, and attract prospective learners to your programs.

Lastly, consider your pricing and payment options. Research competitors’ pricing structures to establish competitive rates. 

Offering various payment options such as credit cards, PayPal, and invoicing for corporate clients, along with discounts for group bookings, early registration, or loyalty programs, can provide additional appeal for prospective clients.

In your journey towards establishing a thriving training business, tracking progress and refining your strategy is not just the final step but a continuous one. 

Make a habit of regularly evaluating your business performance against your established goals and milestones. This assessment should cover various areas of your business – from customer acquisition and retention rates to course completion rates and overall financial health.

One of your richest sources of improvement ideas comes directly from your clients. Make it a practice to gather their feedback , as their perspectives can provide invaluable insights into how your services are received.

Feedback, both positive and critical, can reveal opportunities for growth, enhancement, and innovation that you might not have considered otherwise.

Finally, you must remain adaptable and ready to adjust your strategy as required. The business landscape, much like nature, is in a constant state of flux. Whether it’s a shift in market trends, advancements in training technology, or changes in your client’s needs, your readiness to evolve with these changes is crucial.

A successful training business isn’t static; it grows and adapts, continually evolving to meet the needs of its clients while maintaining its financial health. 

This continual refinement and adaptation are what will ensure your training business doesn’t just survive but thrives for the long haul.

The most successful training entrepreneurs actively seek growth strategies for their businesses. They strive for excellence, going out of their way to learn the latest and greatest strategies.

Here are a few practical tips that can help drive the growth of your training business:

• Collaborating with Industry Experts: Teaming up with industry experts can significantly boost the quality of your training content. These specialists bring a wealth of experience, knowledge, and credibility to your programs, making them more attractive to potential learners. Collaborations can also lead to the expansion of your professional network and present more growth opportunities.
• Offering Certification Programs: Certification programs provide added value for learners, acting as a seal of quality assurance and competency in their chosen field. By offering certification programs, your training business can stand out from the competition, attracting more clients seeking recognition for their newly acquired skills.
• Expanding Your Services and Target Markets: Never limit your field. Consider expanding your service offerings or venturing into new target markets. With the world becoming more connected every day, there’s potential to reach diverse audiences seeking knowledge in various fields. Always be open to new opportunities and keep your finger on the pulse of market trends and demands.

Remember to keep an eye on the competition, too. Is there something extra your competitors offer? What can you do to set yourself apart?

Growth can feel like pulling teeth at first – but with a few strategies and the right approach, you’ll see numbers start to skyrocket. 

Like a good harvest, reaping the fruits of a successful training business is a rewarding experience. It’s a journey that starts with identifying your niche, creating a comprehensive business plan, and navigating the legal landscape. 

It involves setting up a conducive platform for training, developing engaging programs and curricula, and executing effective marketing strategies.

Growing your training business is a continuous endeavor, and with the right mindset and strategies, you can ensure the fertility of your professional field. Collaborations, certification programs, and the expansion of services can all play a significant role in this growth process.

Download the In-Depth Checklist: How to Start a Training Business

Equip yourself with the essential knowledge and guidance you need to launch your training business successfully. Our comprehensive In-Depth Checklist provides a step-by-step roadmap, empowering you to navigate the intricacies of starting a training venture with confidence.

Q. What are the initial costs of starting a training business?

The initial costs of starting a training business can vary widely, depending on several factors. If you’re starting an online training business, for instance, costs will generally be lower than setting up a physical location. 

Primary costs may include investing in a high-quality learning management system (LMS) or online training platform, creating course content, and marketing your services. If you opt for a physical training center, you’ll need to factor in the rent or purchase of a location, outfitting the space for learning and potentially hiring staff.

 Consultation with legal professionals, business registration, and obtaining necessary permits also add to initial expenses. It’s crucial to outline these costs in your business plan for a clear financial overview.

Q. How do I price my training services?

Pricing your training services should consider several factors: the cost of producing and delivering the training, your time and expertise, market rates, and the perceived value to your learners. 

Research your competitors’ pricing strategies to understand what your target market expects to pay. Offering various payment options and discounts for early registration, group bookings, or loyalty programs can also enhance your pricing strategy’s attractiveness.

Q. How can I differentiate my training business from competitors?

Differentiating your training business involves highlighting what makes your offering unique. It could be your unique expertise, the quality of your course content, collaboration with industry experts, or offering certification programs. 

Tailoring your programs to the specific needs of your target audience and providing an exceptional learning experience can also set you apart. Remember, your brand identity plays a crucial role in differentiating your business in the market.

Q. What are the best marketing strategies for a training business?

Effective marketing strategies for a training business include developing a strong online presence through a user-friendly, SEO-optimized website. 

Utilizing social media platforms, offering free resources or introductory workshops, and networking with industry professionals can also enhance your visibility. 

Remember to leverage content marketing to showcase your expertise and engage potential clients. Your marketing strategy should be as dynamic as the market itself, adjusting to trends, audience preferences, and business goals.

Q. How do I ensure the success of my training business in the long run?

Long-term success in the training business requires continuous evaluation and adaptation. Regularly assess your business performance and gather feedback from clients to understand what works and what needs improvement. 

Keep your training materials up-to-date and relevant to ensure they continue to meet your learners’ evolving needs. Lastly, consider growth strategies such as collaborating with industry experts, expanding your services, and venturing into new markets. 

Ensuring the success of your training business requires ongoing care, creativity, and diligence.

This article was originally published July 2023 and was updated in October 2023 to be even more useful.

Daniela Ochoa is the go-to Content Marketing Specialist here at Thinkific Plus! With years of experience in marketing and communications, she is passionate about helping businesses grow through strategic storytelling, innovative digital campaigns, and online learning at scale.On this blog, she shares her expertise in content marketing, lead generation, and more.

• Ultimate List of Training Templates: Streamline Your Training Programs
• Training Invitation Templates: Tips and Examples
• How To Expand Your B2B Offers with Online Learning Products
• The Top 6 Must-use Thinkific Apps (Or Tools) To Level Up Your Online Academy
• Your Guide to Bringing Your Classroom Online Quickly and Effectively

Related Articles

Successful course creator shares why you can’t miss amplify 2022.

After participating in Amplify, Alcides had over 400 student enrollments because of the investment he made in his knowledge.

How to Develop Cost-Effective Training: Maximize Impact & Minimize Costs

Learn how to develop cost-effective training strategies that don't compromise on quality. Discover tips, techniques, and innovative approaches to maximize your training budget.

10 Techniques to Increase and Sustain Webinar Engagement

In this guide, learn how to maximize webinar engagement before, during, and after your webinar and get more people talking about your brand.

Try Thinkific for yourself!

Accomplish your course creation and student success goals faster with thinkific..

Download this guide and start building your online program!

It is on its way to your inbox

Training Industry

10 things you must do when starting your training company.

Since starting Training Industry, I’ve been fortunate to have met many exceptional people in the process of starting a training company. Some have been successful corporate executives, others from distinguished careers in the military and yet others from successful stints as training professionals. All are good development grounds for entrepreneurs and offer excellent credentials for credibility with prospective clients, but background does not always guarantee a successful company.

Some plan to launch their business as a consulting or coaching practice where training will be a component of their service offering. Others say they intend to form a pure-play training company that offers customized services or courses to suit client needs. Both will work, but again, there’s no guarantee as to what the clients will buy.

When meeting with them, my most frequently asked question is “Why training? Of all the business alternatives you could choose, why are you interested in starting a training company?” The most frequent response is they truly enjoy helping people.

Now I know we would all agree that this is a very noble perspective. And I believe training is one of those unique professions where you get to do that. But my first piece of advice is to be realistic and help them understand that as important as it is to have a passion for helping people, this too is not a prerequisite for success in this industry.

The good news is the barrier of entry into this market is extremely low. All you need is a website and business card, and you are ready to greet the world as a bona fide training provider. No certification is required, no validation is necessary, and definitely no advance fees are needed to gain entry. Just like the earlier points, however, great passion with easy entry does not make success a guarantee.

The other piece of advice I provide begins with “Entrepreneurs beware!” It’s easy to get into the business, but it’s a challenge to stay. Launching a training company is not for the meek and mild. Sadly, many very talented people who start training ventures neglect to lay the proper foundation before hanging out their shingles, or they fail to follow some basic tenents once the business is up and running. And they often pay a heavy price for these omissions.

According to the Small Business Administration, the failure rate for cross-industry businesses is nearly 60 percent in the first year. While the SBA has no specific data regarding training companies, my guess is the numbers are similar. And as one who started his own training business after managing a training organization for a large corporation – and made my share of mistakes along the way – I feel qualified to share what I believe are the fundamental principles you should take into account when starting a training business. Regardless of whether you want to be a contract designer, instructor, or consultant, or you want to create a learning technology or product, these tips will help ensure your success and reduce your risk of failure.

Doug’s 10 Tips for Starting a Training Business

10. possess the right credentials.

If you are starting a new training business, it helps immensely to demonstrate that you possess the knowledge, education or validation that proves you know more about the subject than others. A valid credential may be an advanced university degree, industry-recognized certification, professional license or something else that comes from an independent third party. Experience is also important. It quantifies the time you have invested in certain situations, although it doesn’t qualify your expertise at that skill. Leverage your credentials with experience to differentiate yourself as a thought leader.

9. Be Fully Committed

If you want to be a successful training entrepreneur, you must act the part. You must put both feet in the water. Hesitancy manifests as passive behavior. I’ve seen too many training entrepreneurs fail because they passively approach day-to-day activities. Starting a business isn’t a fast process; it can be a grind. Success comes by working through the failures on an even keel and not getting too high on early successes nor too low on early failures. Commitment means not accepting failure. We’ve all heard that success comes to those who work hard. I believe success comes to those who are committed to success.

8. Productize Your Offerings

Most training start-ups struggle to accurately define their capabilities and services. They promise the customer they can do anything the customer wants. But clients buy specific products and services, not a nebulous claim of proficiency. If your main business is a service, then productize that service. Model it, and graphically show it. Anyone can claim they do custom course development, but to differentiate yourself, you must define and name the proprietary process for your course development more clearly and effectively than others. For example, Accenture has productized strategic alignment under the name Business Interlock, while Intrepid Learning Services productizes its assessment service as JARS. You can do it, too.

7. Articulate your Value

Once you have created a product, you must articulate its value to the client. A value proposition is not why you think you’re special, but why your client should think you’re special. Take your time to define it succinctly and convincingly, and then test the message with others to see if it works. But remember: If you can’t adequately explain your value proposition, you can be sure your client will not understand.

6. Publish, Publish, Publish

Buyers of training products and services are proficient at researching potential suppliers. They use internet search engines and look for things that thought leaders have done in the past. One of the best marketing strategies for any new (or mature) training company is to leverage their knowledge. Show the market that you are the expert in your field. Publish articles, blogs and case studies – anything that documents your expertise. Your ability to articulate concepts and thought leadership in writing is a great example of who you are and what you can do for prospective clients.

5. Network with Buyers

Many well intended individuals advise that you should get to know as many people as possible. They are partly correct. Yes, networking is important, but getting to know the RIGHT people is the goal you should strive for. I often find start-up entrepreneurs attending meetings and conferences that have no buyers. Why are they there? Make sure the events you attend have the people you need to meet. Also, develop and execute an aggressive plan to meet potential buyers of your services. Don’t attend events that are full of the same people as you – places where others are looking to start a business or land a job. They don’t buy from you. Success comes from getting to know as many people as possible who buy your kind of products and services.

4. Speak Your Customer’s Language

Many people who enter the training business speak their own lingo, expecting the buyer of those services to understand. Some try to impress by using industry-based language. But remember that buyers of training products and services are not always training professionals. In fact, more than two-thirds of the value of training purchased is done by non-training professionals. So communicate your offerings and your value proposition into words that your customer understands.

3. Limit Non-Binding Partnerships

The life of an entrepreneur can be a lonely existence, especially if one hasn’t yet attracted customers or hired employees. Start-up entrepreneurs often seek relationships with others who are non-threatening and help them feel they are not in this business alone. Be careful. These relationships can become a distraction if they are not, or won’t become, contractually binding partnerships. Relationships should be about growing your business, not making you feel good. If you are going to form some kind of partnership, do it with people who have the same objective: making money for YOU. Minimize relationships that don’t pay your bills.

2. Create a Supply Chain

Recognize that the training industry is very large and complex with multiple levels of buyers and suppliers. A common mistake is to think that your only clients are the end customers of your services. Many tier 4 suppliers sell into tier 3, 2 or 1 suppliers. There is plenty of business to be had by training consultants who sell through another, larger training supplier that has an established channel to the end customer. Find the right supply chain for your business, and don’t limit your opportunities to selling direct.

1. Capitalize Your Business

This is rule number one, the absolute most important thing you must do when starting your training company: Make sure you have the proper amount of cash to make it through the sales cycle. I recommend you have at least six months of working capital on hand to get through the ebb and flow of cash management. It is frequently said that the number one failure of start-up businesses is not having the proper level of cash for the business they are in. Training is no different.

• #entrepreneurship
• #training companies
• #training suppliers

Doug Harward

Doug Harward is the founder and CEO of Training Industry, Inc.

This topic is proudly sponsored by

Related Content

3 steps for more inclusive virtual learning, revolutionizing dei training: harnessing immersive learning for lasting impact, [e-book] international survey: current and future challenges facing hr and l&d.

Stay up to date on the latest articles, webinars and resources for learning and development.

Privacy Overview

How to Start a Training Business in 2024 (& Succeed at It)

id you know that the global corporate training market is expected to reach $370.3 billion by 2027? It's expected to reach $370.3 billion by 2027 and will even exceed $493.32 billion by 2028! Small businesses are investing big bucks in employee training too, with an average spend of almost $1,400 per learner in 2022. With remote work becoming more prevalent and the need for continuous professional development on the rise, the demand for training services is at an all-time high. 

The United States dominates the corporate training market, accounting for over 30% of the global share in 2020. This presents a fantastic opportunity for anyone considering starting their own training business. For example, a tutor experienced in working with students who have learning disabilities could create a business to meet their specific needs.

You can positively impact people's lives while also making money by starting a training business. A tutor with experience working with students who have learning disabilities, for instance, could start their own training business to meet the specific needs of these students and their families.

But let's be real, starting an online training business can be daunting if you're not an entrepreneur at heart. To do it successfully, you need to take an organized approach, develop an effective marketing strategy, and intimately understand your target audience. This article is for anyone interested in starting their own training company, providing a step-by-step guide on how to start a training company. So keep reading if you want to turn your passion for teaching into a profitable career.

What is a Training Company?

A training company is a company that offers courses and programs for personal and professional growth. Education can range from purely technical to managerial. Organizations providing instruction can be for-profit or non-profit enterprises and need not be exclusively virtual to exist.Businesses in the training industry come in many forms. Still, they all commit to empowering their clients with the knowledge and experience to achieve personal growth and professional success. 

The purpose of any instructor is to positively affect their students, whether they are learning how to use a new piece of software or become better leaders.Training business is a great way to make a difference and a good living at the same time. A training business could be perfect if you enjoy seeing others develop and grow.

Why Start A Training Company?

Successful professionals and businesses rely heavily on training companies to help them develop the necessary expertise. 

Thus, training firms are well-known for tailoring courses to meet the specific needs of their clients to boost employee and business productivity.

Training firms have been shown to boost productivity, efficiency, and morale, all while keeping businesses competitive.

How Much Does it Cost to Launch a Business Program?

It is important to know the cost of starting a business training program and how to start a training business, as this will determine the scope and type of program you can offer. You can get the training in various formats, from virtual classes to in-person seminars. Private coaching services come with an associated time and material cost. Launching a more extensive program with in-person and virtual components will require more funding. The following factors can help you estimate the price of launching your business training program:

• If you have a client or student base, how much time do you anticipate spending with them?
• What kind of materials do you need, and how much of it?
• Does your company already have any necessary infrastructure (like an office, necessary tools, or an online learning management system)?
• Is a minimum amount of advertising and promotion required to bring in customers or enrollees?
• Do you have other operating expenses (such as insurance or permits)? 

You can better understand the initial investment required for your business training program if you answer these questions. If you want your online training business to succeed, you need to put in the necessary resources, but you must also be careful to spend your resources wisely. An effective business training program does not have to break the bank with careful preparation and execution.

Benefits Of Starting An Online Training Business

As reported by the Census Bureau's Business Formation Statistics, the number of businesses formed increased by 55% from January to November of 2021. Launching a training company can bring about a wide variety of positive outcomes. Five of the most notable are listed below.

• You can set your hours and be your boss by starting a training company. You'll have complete control over your work schedule, who you serve, and your company's direction.
• Second, you have the power to make a difference; clients of training companies can benefit from your services in meaningful ways. You can make a difference in people's lives by assisting them in developing their abilities and knowledge.
• The potential for financial success; if your training business is profitable, you can make a comfortable living. The business world can provide a comfortable living for those who are dedicated to their work and skilled at it.
• You get to set your hours if you own a training company. Your working hours can be arranged as needed to accommodate personal or professional obligations.
•  You'll have plenty of business: Training companies are in high demand, particularly in fields that place a premium on lifelong learning. That's great news for anyone hoping to launch a thriving business and find a steady stream of customers. 

Businesses' training needs will increase as the economy transitions to a knowledge-based model.

How to Create Your Own Training Company: 10 Steps to Success

Starting your own training business can be a lucrative and fulfilling profession if you have a knack for teaching and a motivation to see others succeed. Below, we take a look at how to start a training business. You need to take several important steps to ensure your business is successful.

1) Identify your niche

One must first determine their target market to launch a successful training company. Can you name some concrete abilities or areas of expertise you can impart to others? This could refer to any skill set, from writing code to promoting an event to giving speeches. Pick a market segment that interests you and has a lot of potential customers.

Think about your passion and how you like to spend your free time. In what ways can your professional and personal experiences serve as a source of insight for others? There is a high demand for training in some areas, so it's a good idea to look into market trends and employer demands to find those niches.

2) Conduct market research

The success of your training business will depend on your ability to conduct market research after you have settled on a specific niche. It is essential to know your market, your audience, and their wants, needs, and problems. Google Trends, market research, and social media are just some online resources you can use to learn more about your target audience and the market.

To get accurate results from market research, one must be thorough and impartial. Assess the areas where your rivals excel and where you can set yourself apart. Find out what drives your intended trainees and how your training can help them succeed.

3) Develop a business plan

Business plans are like road maps for your training company; they detail the company's intended direction, purpose, and objectives. A market analysis, financial forecasts, and promotional plans should also be incorporated. When starting and expanding your business, having a well-thought-out business plan will help you maintain focus and make educated choices.

There are a few things to keep in mind when writing a business plan:

• A synopsis of your company and its aims, or executive summary.
• Market analysis, which is an examination of your target market and its other players.
• Your products and services should include an explanation of the training programs you offer and how they cater to the specific needs of your customer base.
• Strategy for promoting and selling your training to a specific demographic
• Cost and revenue forecasts for a given time frame are what we call "financial projections."

4) Decide on your pricing model

Determine who you're trying to reach and what kind of training you provide, as these factors will inform your pricing strategy. You can set your hourly rates per session or unit of study. Providing bundles or discounts for multiple purchases or referrals is another option. Establishing reasonable rates that compensate for your education and experience is crucial.

When settling on a pricing strategy, it's important to think about the following:

• How much are they willing to spend for those who will benefit most from your training?
• Where can I find pricing information for similar classes offered by your competitors?
• How much are you investing in the development and presentation of your training?
• What sets you apart as a trainer, and why should someone invest in your course?

5) Create your training materials

The training materials you create should be adapted to the specific demographic and needs of the people using them. This could be in the form of video lectures, readings, assignments, and tests. Tools and platforms like Udemy and Teachable for online courses and video conferencing programs like Zoom are just a few examples of what you can use to design and deliver your training.

Keep these guidelines in mind as you develop your training materials:

• Maintain a minimum level of complexity: Pay attention to the most important ideas and techniques your target audience must grasp.
• Include visuals, audio, and user interaction to pique interest in your content.
• Offer evaluations and suggestions for improvement to aid your audience in learning.
• Keep abreast of the latest developments: Incorporate student feedback and adapt to industry shifts by updating your materials frequently.

6) Build your online presence

In today's digital age, it is essential for any business, including training businesses, to have a robust online presence. Get the word out about your training through various online channels such as social media, your website, and others.

Here are a few suggestions for enhancing your web profile:

• Build a website to advertise your training services and inform potential clients. Sites like Wix and Squarespace make it possible to build a functional website with a polished design and no knowledge of HTML or CSS.
• Use social media to spread the word about your training and connect with potential clients. Sites like LinkedIn, Twitter, and Facebook are perfect for this. 
• Using these channels, you can distribute training materials, engage with your target audience, and gain followers.
• Use email marketing because it's cheap and easy to promote your training and stay in touch with your audience. 
• Mailchimp and Constant Contact are two examples of email marketing platforms that can be used to create and send emails to your subscribers, including newsletters, promotions, and more.

7) Utilize technology

The use of technology in education can improve the quality of training and save time. The following are examples of useful resources:

• Using a learning management system (LMS) such as Moodle or Canvas, you can easily organize and distribute your training materials to your students, monitor their development over time, and offer them constructive criticism.
• Technology like Zoom or Skype video conferencing features make it easy to hold real-time training sessions and engage with students.
• Course, authoring tools like Articulate Storyline and Adobe Captivate allow instructors to make lessons beyond simple text to engage students in a more active learning experience.
• Tools for evaluating students' knowledge can be found online, and sites like Kahoot and Quizlet are examples of such platforms.

8) Launch your training

You can now begin offering training after creating your training materials, establishing your pricing structure, and establishing your online presence. You can provide initial sessions at no or low cost to get the ball rolling and get people talking. Additionally, you can inquire within your social circle for recommendations and feedback.

As you roll out your training, be flexible and open to change in response to student feedback. This will aid you in maintaining your dedication to offering first-rate instruction tailored to your specific audience's needs.

9) Provide ongoing support and resources

Giving students access to resources and support after they've completed their training is essential. This can keep them interested and enthusiastic about the training and reinforce its value.

Some examples of ongoing assistance and material support are:

• Social media groups, forums, and chat rooms can foster a sense of community among your students, allowing them to connect and share their experiences and knowledge.
• If you want your students to continue learning after your training ends, you can provide additional training materials, reading lists, and other resources.
• To ensure that your students can apply the skills and knowledge they acquire in your training to their unique situations, consider offering coaching or mentoring services on an ongoing basis.

10) Measure and improve your training

Last but not least, ensuring your training is constantly evaluated and enhanced is crucial to the success of your training business. Tools like surveys, feedback forms, and analytics can help you measure the success of your training and make adjustments based on student feedback.

For better training results, you can track and enhance the following areas:

• Happy students: How happy are your trainees with their training? Do you know what you could do to make them happier?
• Is there evidence that your trainees have retained and can use the information and skills you've taught them? What can you do to improve their educational outcomes?
• Are you getting a good return on investment (ROI) from your training for your company and your employees? Is there a way to maximize the return on investment for your training?

4 Core Tools to Help You Start a Training Business

#1 educateme.

EducateMe's straightforward interface is a great resource for anyone considering launching an online training enterprise. 

Whether it's live video instruction, boot camps, or full-fledged courses, this platform has you covered with fully automated features that maximize student potential. 

Educators have simple access to real-time lesson monitoring and rich analytic data in every training session. 

EducateME's email and automated feedback features make exchanging information easy for students and teachers. Users of this platform can also customize and access it on any device, made possible by EducateMe's flexible design.

This platform creates a unique approach to learning called “brain science-backed gamification”.. Axionify is a cloud-based microlearning platform with gamification features. 

This system caters instruction to learners' preferences and strengths through bite-sized learning modules. 

The Axionify platform has many features to increase employee participation, such as leaderboards, badges, and other gamified elements that promote healthy competition and socialization among workers. Companies can monitor employee development and pinpoint areas where they may need additional training, thanks to the analytics features of the platform.

With its innovative approach to education, intuitive interface, and cutting-edge analytics features, Axionify is an invaluable tool for any business that wants to foster a culture of lifelong learning and development.

#3 Path LMS

Path LMS is a product of Blue Sky eLearn, and serves as an online learning management system. Organizations can use it to facilitate online educational content development, distribution, and administration. The Path LMS is an all-encompassing platform for designing and delivering interactive online courses, tracking the development of individual students, and analyzing the results of training initiatives.

The Path Learning Management System's features and capabilities include the following:

• Course creation using multiple media types like video, audio, text, and images.
• Content management.
• Learner management.
• Reporting and analytics.
• Integrations with a wide range of third-party applications like Zoom.

Docebo is a cloud-based LMS that facilitates the development and distribution of educational content for online users. In addition to tools for making courses, the platform includes a catalog of available courses, a way to enroll students, monitor their progress, generate reports, and connect with third-party programs.

Because of its flexible design and extensive customization options, Docebo can be easily adapted to meet the needs of any business and reflect its brand image. In addition, it supports mobile use so that it can be accessed from anywhere and used for learning..

In conclusion, it can take time to grasp the essentials on how to start a training business. You can start a profitable and satisfying training business if you dedicate time and energy to defining your target audience, researching the market, writing a business plan, settling on a pricing structure, developing training materials, establishing your online presence, and releasing your training.

2024 Bootcamp Market Statistics & Insights for Edupreneurs

10 Best Synchronous and Asynchronous Learning Platforms [2024]

Top 10 Interactive Training Software

Create and scale collaborative courses

Online Training Program

Previous chapter

Corporate LMS

Next chapter

Keep reading

10 Essential LMS Reports You Need to Track and Optimize in 2024

Best 10 Thinkific Alternatives For Progressive Creators and Academies

How to Measure Training Effectiveness?

10 Best Cloud-Based Learning Management Systems [2024]

Knowledge is Light: How To Build A Top eLearning Platform [6 Steps]

• Sample Business Plans
• Education & Training

Vocational School Business Plan

If you are planning to start a new vocational school business, the first thing you will need is a business plan. Use our sample vocational school business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan for your new vocational school, spend as much time as you can reading through some examples of education and training-related business plans .

Reading sample business plans will give you a good idea of what you’re aiming for, and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample Vocational School Business Plan for you to get a good idea about how a perfect vocational school business plan should look like and what details you will need to include in your stunning business plan.

Vocational School Business Plan Outline

This is the standard vocational school business plan outline which will cover all important sections that you should include in your business plan.

• Services and Amenities
• Vision Statement
• Mission Statement
• Head of the School / School Coordinator
• School Administrator
• Instructors
• Marketing and Sales Executive
• Client Service Executive
• SWOT Analysis
• Market Trends
• Target Market
• Competitive Advantage
• Marketing Strategy and Sales Strategy
• Sources of Income
• No. of students v/s Revenue Chart
• Payment Options
• Publicity and Advertising Strategy
• Startup Expenditure (Budget)
• Generating Funds/Startup
• Sustainability and Expansion Strategy

Say goodbye to boring templates

Build your business plan faster and easier with AI

Plans starting from $7/month

After getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your vocational school business plan pdf and doc file. It’s the fastest and easiest way to start writing your business plan.

Download a sample vocational school business plan

Need help writing your business plan from scratch? Here you go;  download our free vocational school business plan pdf  to start.

It’s a modern business plan template specifically designed for your vocational school business. Use the example business plan as a guide for writing your own.

Related Posts

School Business Plan

Swim School Business Plan

Best Business Plan Tools for Startup

Business Plan Cover Page Design Guide

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

Plan your business in the shortest time possible

No Risk – Cancel at Any Time – 15 Day Money Back Guarantee

Create a great Business Plan with great price.

• 400+ Business plan templates & examples
• AI Assistance & step by step guidance
• 4.8 Star rating on Trustpilot

Streamline your business planning process with Upmetrics .

Tuesday, 02 July

11 Feb 2020

How to make skills development work for your business

A dearth of skilled staff in South Africa prompted the government to implement the skills development levy (SDL) at the turn of the century. The administration of this bid to prompt businesses to upskill employees may seem daunting to business owners – especially micro and small businesses. 

It is, however, beneficial to have skilled staff.One of the main benefits of participating in the sectoral education and training authority (SETA-) led levy system, is that the SETAs pay for the training, says Naren Vassan, head of quality assurance at the SA Board for People Practices – an umbrella organisation for human resources professionals.

“There is a clear recording and monitoring process for verifying the quality of training provided,” says Vassan. 

Ways to utilise the skills development levy

1. Register with your sectoral education and training authority

All the different economic sectors in South Africa have their own sectoral education and training authorities (SETAs). It is imperative to identify the correct one and ensure that your business is registered with them. You will need your Sars-issued skills development levy (SDL) number to register.

2. Appoint a skills development facilitator Each business needs to designate a skills development facilitator to handle all the SETA-related administration. It could be the person responsible for the payroll or, if the organisation is large enough, the human resources officer. These facilitators could opt to go for a short training course at accredited training service providers on how the skills development process works.

3. Set up a skills development forum This workplace forum should consist of the facilitator, a senior manager and at least two non-managers. This forum’s sole aim is to identify training needs in the business. Two or three meetings a year should be held and minutes must be taken and kept for submission with the workplace skills plan.

4. Identify potential training service providers After identifying the training needs, and to ensure a smooth compilation of the workplace skills plan, it would be a good practice to source quotations from potential service providers. This would enable the business to budget for training.

5. Compile the workplace skills plan The workplace skills plan can be completed on the SETA’s website. It will require the facilitator to register once. The plan should also set out what training the organisation plans to undertake, given the money budgeted for it. The training will be listed according to occupational level and the national qualifications framework level at which it will be provided (i.e. NQF-2 or NQF-3). The number of employees to be trained at each occupational and NQF level will be broken down in the plan. The deadline for submitting these plans is 30?April. It may be extended by some SETAs.

6. The actual training report in subsequent years From the second year, the business will need to file an actual training report covering the previous year. This report is a summary of what training actually took place and is compared with the previous year’s workplace skills plan. It is filed along with the current year’s workplace skills plan.

How does the grants system work?

Businesses pay a 1% payroll levy on the remuneration (excluding some benefits) of all their employees when they remit their monthly EMP201 return to Sars.Of the total money paid over to Sars, 80% is remitted to the sectoral training and education authorities (SETAs), while 20% is paid over to the National Skills Fund. The SETAs must disburse their allotment through mandatory and discretionary grants.As an employer, by submitting the annual workplace skills plan and an annual training report, 20% of the levies that the business has paid will be refunded as a mandatory grant, says Naren Vassan, head of quality assurance at the South African Board for People Practices. Discretionary grants are paid according to each SETA’s financial model.The business that wants to claim a discretionary grant must identify critical or scarce skills required for the development of employees, says Vassan. Subsequently, they must submit a formal application to the respective SETA it is associated with, he says. If the SETA is satisfied with the request, it will pay the discretionary grant based on its financial model, he says. 

How do learnership tax allowances work?

The Income Tax Act makes provision for an allowance to businesses who train existing, new or disabled employees. This allowance can be deducted from a business’ taxable income when its income tax return is filed. A distinction needs to be drawn between existing and new employees, and whether a learnership is completed or not, according to a guide on learnership allowances issued by Sars. For an existing employee, the business can claim an amount equal to 150% of the total remuneration of the learner up to a maximum of R20 000. Where such a learner is a new employee, the business can claim an amount equal to 175% of the total remuneration up to a maximum of R30 000. Where the learner is disabled and an existing employee the maximum amount to be claimed is R40 000 and where the disabled person is a new employee, the maximum rises to R50 000.On completion of the learnership, the company can claim a completion allowance. Where the learnership was shorter than 12 months, the allowance is equal to the total remuneration of the learner and increases to 175% of this remuneration in the case of a disabled person. For a learnership exceeding 12 months, the allowance is equal to the annual equivalent remuneration of the learner and increases to 175% of this annual equivalent for a disabled person. The cap on the completion allowance is R30 000 for a learnership and R50 000 in the case of a disabled person.   

This article originally appeared in the 6 February edition of finweek . Buy and download the magazine here or subscribe to our newsletter here .

05 Feb 2020

• Meet the ministers now in charge of SA's economy
• Optimism as Ramokgopa's star rises while Mantashe is 'demoted'
• Rand rallies below R18/$ as Godongwana retains finance post
• New cabinet triggers rally in SA shares, bonds
• Overhauled and shaken up: Is Ramaphosa's new economic cluster primed for growth?

Climate Future Weekly

An overview of the challenges and opportunities of the climate crisis, as it changes the world we know.

Can you ace them all?

Today’s crossword, wordflower, sudoku and weekly news quiz

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

Find public sector tender opportunities in South Africa here.

How to Write a Business Plan: Your Step-by-Step Guide

So, you’ve got an idea and you want to start a business —great! Before you do anything else, like seek funding or build out a team, you'll need to know how to write a business plan. This plan will serve as the foundation of your company while also giving investors and future employees a clear idea of your purpose.

Below, Lauren Cobello, Founder and CEO of Leverage with Media PR , gives her best advice on how to make a business plan for your company.

Build your dream business with the help of a high-paying job—browse open jobs on The Muse »

What is a business plan, and when do you need one?

According to Cobello, a business plan is a document that contains the mission of the business and a brief overview of it, as well as the objectives, strategies, and financial plans of the founder. A business plan comes into play very early on in the process of starting a company—more or less before you do anything else.

“You should start a company with a business plan in mind—especially if you plan to get funding for the company,” Cobello says. “You’re going to need it.”

Whether that funding comes from a loan, an investor, or crowdsourcing, a business plan is imperative to secure the capital, says the U.S. Small Business Administration . Anyone who’s considering giving you money is going to want to review your business plan before doing so. That means before you head into any meeting, make sure you have physical copies of your business plan to share.

Different types of business plans

The four main types of business plans are:

Startup Business Plans

Internal business plans, strategic business plans, one-page business plans.

Let's break down each one:

If you're wondering how to write a business plan for a startup, Cobello has advice for you. Startup business plans are the most common type, she says, and they are a critical tool for new business ventures that want funding. A startup is defined as a company that’s in its first stages of operations, founded by an entrepreneur who has a product or service idea.

Most startups begin with very little money, so they need a strong business plan to convince family, friends, banks, and/or venture capitalists to invest in the new company.

Internal business plans “are for internal use only,” says Cobello. This kind of document is not public-facing, only company-facing, and it contains an outline of the company’s business strategy, financial goals and budgets, and performance data.

Internal business plans aren’t used to secure funding, but rather to set goals and get everyone working there tracking towards them.

As the name implies, strategic business plans are geared more towards strategy and they include an assessment of the current business landscape, notes Jérôme Côté, a Business Advisor at BDC Advisory Services .

Unlike a traditional business plan, Cobello adds, strategic plans include a SWOT analysis (which stands for strengths, weaknesses, opportunities, and threats) and an in-depth action plan for the next six to 12 months. Strategic plans are action-based and take into account the state of the company and the industry in which it exists.

Although a typical business plan falls between 15 to 30 pages, some companies opt for the much shorter One-Page Business Plan. A one-page business plan is a simplified version of the larger business plan, and it focuses on the problem your product or service is solving, the solution (your product), and your business model (how you’ll make money).

A one-page plan is hyper-direct and easy to read, making it an effective tool for businesses of all sizes, at any stage.

How to create a business plan in 7 steps

Every business plan is different, and the steps you take to complete yours will depend on what type and format you choose. That said, if you need a place to start and appreciate a roadmap, here’s what Cobello recommends:

1. Conduct your research

Before writing your business plan, you’ll want to do a thorough investigation of what’s out there. Who will be the competitors for your product or service? Who is included in the target market? What industry trends are you capitalizing on, or rebuking? You want to figure out where you sit in the market and what your company’s value propositions are. What makes you different—and better?

2. Define your purpose for the business plan

The purpose of your business plan will determine which kind of plan you choose to create. Are you trying to drum up funding, or get the company employees focused on specific goals? (For the former, you’d want a startup business plan, while an internal plan would satisfy the latter.) Also, consider your audience. An investment firm that sees hundreds of potential business plans a day may prefer to see a one-pager upfront and, if they’re interested, a longer plan later.

3. Write your company description

Every business plan needs a company description—aka a summary of the company’s purpose, what they do/offer, and what makes it unique. Company descriptions should be clear and concise, avoiding the use of jargon, Cobello says. Ideally, descriptions should be a few paragraphs at most.

4. Explain and show how the company will make money

A business plan should be centered around the company’s goals, and it should clearly explain how the company will generate revenue. To do this, Cobello recommends using actual numbers and details, as opposed to just projections.

For instance, if the company is already making money, show how much and at what cost (e.g. what was the net profit). If it hasn’t generated revenue yet, outline the plan for how it will—including what the product/service will cost to produce and how much it will cost the consumer.

5. Outline your marketing strategy

How will you promote the business? Through what channels will you be promoting it? How are you going to reach and appeal to your target market? The more specific and thorough you can be with your plans here, the better, Cobello says.

6. Explain how you’ll spend your funding

What will you do with the money you raise? What are the first steps you plan to take? As a founder, you want to instill confidence in your investors and show them that the instant you receive their money, you’ll be taking smart actions that grow the company.

7. Include supporting documents

Creating a business plan is in some ways akin to building a legal case, but for your business. “You want to tell a story, and to be as thorough as possible, while keeping your plan succinct, clear, interesting, and visually appealing,” Cobello says. “Supporting documents could include financial projects, a competitive analysis of the market you’re entering into, and even any licenses, patents, or permits you’ve secured.”

A business plan is an individualized document—it’s ultimately up to you what information to include and what story you tell. But above all, Cobello says, your business plan should have a clear focus and goal in mind, because everything else will build off this cornerstone.

“Many people don’t realize how important business plans are for the health of their company,” she says. “Set aside time to make this a priority for your business, and make sure to keep it updated as you grow.”

• Professional development
• Trade skills
• Not for profit

Work in a different sector?

Whatever sector you work in, we have functionality that can help

Functionality

• Course management
• Online booking & payment
• Surveys & feedback
• Sales & marketing
• Customer relationship management
• Reporting & BI
• Integrations & add-ons
• Learn about our platform modules

Implementation & support

Our team of experts will guide you through every step of your journey.

What is training management software?

What training management software is and benefits for your training business.

What you get

Discover our flexible training management solutions

How we work

Understand what to expect on your journey with accessplanit.

Request a quote

Tell us about your requirements and receive a personalised quote

About accessplanit

Get to know us

Meet the team

The team behind accessplanit

View our open vacancies

Making a difference

How we're helping our community

Resource centre

View all of our resources

Case Studies

Read about our customer success stories

Tips and best practices for training providers

Download the latest training industry content

Expert advice from industry leaders

Explainer videos

Learn more about our platform through bitesize videos

Customer hub

Resources for current accessplanit customers

The 7 Key Elements Of Successful Training Centre Management

Whether you are currently running, or are thinking of starting your own training business, you will almost certainly be considering best practice and how you can be your most effective. At accessplanit, we have worked with many successful training businesses over the years and understand what it takes to achieve effective training centre management.  With around 50% of new businesses failing in the first five years of starting, it’s important to get the fundamentals in place early-on; to produce a successful, future-proofed training business .

No matter what your focus is on; how many resources you’re starting with, or what your ultimate goals are- there a several key values that will help you remain viable and flexible in the fast-changing training industry.

Here Are The 7 Key Elements Of Successful Training Centre Management:

Know your audience, use the right tools, be innovative, communication is king, get accredited, invest in your people.

• Market, Market, Market

It may seem obvious, but knowing your audience is not always as easy as it sounds. Hopefully you already have an understanding of what you’re training people in. So, things to consider when thinking about targeting the right people are: Who are they? What do they need to learn? What do they want to learn? How big is your market? Is it a local market, or wider reaching?

You can hire a company to do your market research for you, or choose to conduct the research yourself; either way, proper research will really help you understand the viability and sustainability of your training business in the market.

One of the foremost keys to successful training centre management is defining and utilising the right tools for the running of your specific business. Using tons of disparate systems can have a detrimental effect on your time and profit margins. The technology you choose now can affect your scalability further down the line, so choose a system that can serve a lot of your requirements in one place, and will save you time now and in the future.

The most successful training companies aren’t afraid to try new things. Effective training centre management starts with leaders that have their ears to the ground and are aware of new trends and industry discussions. Being innovative sends a clear signal to your potential clients, that you are an expert in your field who is not content to rest on your laurels- but is always learning and staying relevant.

You could be the best training company in the world, but if your potential clients don’t know you exist, you’re not going to get very far. Successful training centre management relies on good communication. It's an essential ingredient to being seen as an expert in your field by your customers, prospects and peers.

Some things you should definitely be doing to create and maintain good communication are: blogging; regular posts and networking on social media; attending conferences and relevant networking events , and sending out regular emails to registered clients/potential clients.

Trust is a key component in the training industry, so it’s no surprise that the most successful training centres are highly-accredited. There are so many accrediting bodies out there, for the whole, wide array of training types- it would be near-impossible to create a fully comprehensive list, but likelihood is that you already know the best ones in your field and are making strides to gain them.

As a training company, you understand how important people with effective skills are to a business- so why would you not apply it to your own. Your people are your cornerstones, and your trainers especially should be up-to-date with the latest training- especially the training they are delivering.

Don’t overlook soft-skills when it comes to your trainers either- A successful training business encourages their trainers to really care about their learners, creating a culture of self-improvement and people-centric personal goals.

Market, Market, Market!

Good marketing starts with a strong brand. If you’re putting together a training document and don’t know exactly what it will look like from the get-go, then your brand probably isn’t strong enough. How can you expect people to remember your company, if YOU don’t even know what it looks like? Strengthen your brand and it will in-turn help to strengthen your presence in the market.

Your target audience will ultimately determine how you market yourself. If your target-market is a niche industry , then a good start would be to look at advertising in trade magazines or industry specific websites. If you have a wider net to cast, LinkedIn is a useful tool for making connections and prospecting for business.

Spend money on your marketing: Google-Ads and LinkedIn Ads are probably your two main objectives- but don’t go in blind. You can hire a professional to run paid ads for you, or train yourself or member of your team.

When it comes to training centre management, word of mouth and favourable online reviews can go a really long way to winning you clients. But don’t depend on them entirely. Use that innovative streak to always keep your marketing momentum moving forward.

Want our recipe for success? Book a demo with accessplanit and discover how we can help save you up to 50% of your admin time – Giving you a clear focus on your training centre management.

Related Posts Include:

• The Ultimate Guide To Training Management Software
• How to Make the Most of SEO and PPC To Increase Course Booking
• 5 Ways To Manage Your Training Resources More Effectively

How Can Feedback Improve Your Training Company?

Key Elements Of Training Management

Why Training Professionals Should Attend Everest Conference 2019

edX Enterprise

7 Steps To Creating A Professional Skills Development Plan

September 1, 2022

Despite efforts by organizations to address widening  skills gaps , just 51% of employees surveyed consider training from employers to be useful. 1  This may in great part be due to a disconnect between the learning opportunities available to employees, and the training they need to both excel in their roles and grow in their careers.

Given that 96% of employees are nevertheless interested in cultivating new skills 2 , there’s an opportunity for learning and development (L&D) managers to leverage this interest, while simultaneously advancing company goals.

To do this, they need to create skills development pathways focused on building critical competencies that match organizational objectives and the goals of individual employees. 3  This in turn will address existing skills gaps, and lay the groundwork for employees, and organizations, to survive the shifting world of work.

Step 1: Conduct a training needs analysis

An effective skills development plan must begin with a training needs analysis (TNA). TNAs help organizations address the gap between where a team may be, and where it needs to be. It’s a proactive, cost-effective tool that helps L&D managers to outline training and development needs, address potential issues, and ensure that training is, in fact, the best way to address business problems. 4

Training-needs analysis levels

L&D managers need to work through three levels of analysis, starting with individual analysis, and ending with the analysis of competencies needed to perform specific tasks.

Individual analysis

The individual analysis should outline the skills present within a team and identify any barriers to success their absence may cause. 5  To identify the training needs of each employee, L&D managers should:

• Analyze performance reviews, appraisals and other available data to gauge opportunities for individual development.
• Engage with employees one-on-one, in focus groups, or through surveys to take stock of their daily challenges.
• Connect with team leaders and managers on where they think skills are lacking.
• Identify workers who are at risk of redundancy due to automation or skills gaps, and note transferable skills that can be redeployed as part of individual employee development plans. 6

Company analysis

Once you’ve assessed needs on an individual level, it’s time to plot out business goals so you can identify any overlaps, and prioritize areas for intervention. 7

Look out for issues present on an organizational level that can be addressed through training, i.e. issues caused by a lack of certain skills and competencies. Consider how technology, legislation, or even business growth might shift needs.

During this step, identify the kinds of support that management can offer employee development and gauge whether additional resources are needed to meet the company goals.

Operational tasks analysis

Finally, drill down into the details of each task and role. This will involve a deep dive into employee job descriptions. 8  Map this information against what you already know about the skills that exist within any given team. At the end of the TNA process, you should have identified any potential or upcoming skills gaps.

Step 2: Identify skill development focus areas and goals

With these insights, you have the beginnings of a learning roadmap. Your next task is to consider short- and long-term training needs so you can identify priority areas, and  build critical skills pathways .

You can use the  Skills Hierarchy  to help you identify what skills are most needed. 9  This framework helps to differentiate between assumed, foundational skills like digital literacy, and transferable, human-centered skills like leadership that prepare individuals for a shifting work landscape. 10

As you prepare to craft learning pathways, focus on prioritizing these human-centred skills, as well as other competencies that are resistant to change, such as analysis, critical thinking, and problem-solving.

At the end of this process, you should be clear on both present and future training needs, and have L&D goals that will meet them.

Step 3: Identify learning solutions and tech to support L&D goals

Once you know what you’d like to achieve, you need a clear plan to get it done. Your professional development plan must factor in the expectations of your employees, too, and what’s needed to help them learn effectively. 11

Source or create a learning pathway that acknowledges the interests, skills, and learning styles of your staff, and is designed to support them in their development. 12  Gauge if existing training resources can be used or repurposed, or if new instructional materials need to be created. Depending on what you have available to you, this could result in a custom course made up of rich educational media like video, animation, and interactive content. Alternatively, it could be a curated learning journey that pulls from industry leaders and existing free resources.

You’ll need furthermore to consider the broader goals of your training, and how it will be broken down into individual modules and lessons. 13  To get the best results, include a mix of materials and sources to bring in diverse perspectives and to cater to different learning styles. For top learning outcomes, you can look into models like the  2U Learning Experience Framework  for guidance.

Targeted approaches, with hand picked, curated learning experiences have proven more impactful than one-size-fits-all learning solutions. For example, to cater to staff who need leadership development, you could explore learning that’s focused on making an individual and team impact, as well as strategy. Other staff members might need to cultivate technical skills, which would call for more intensive learning solutions that have longer study times and are highly practical.

Finally, consider what kind of technology you’ll use to deploy your learning solution, be it a company learning management system (LMS) or learning experience platform (LXP), as well as any additional learning tools or integrations. The right technology will enhance your learning material, provide a smooth user experience, and ensure your learning solution is delivered effectively.

Step 4: Gain stakeholder support

Without stakeholder backing, even the most comprehensive learning pathway can fall flat. With leadership buy-in — from middle management all the way to the C-suite — you’ll not only create a culture of learning, but also ensure there is shared purpose in the learning experience.

For learning to be supported at all levels, L&D managers must be able to outline the short- and long-term strategic benefits of training interventions. Just on the global level, for instance, the World Economic Forum anticipates a boost of up to $6.5 trillion to the global GDP if we innovate and address emerging skills gaps. 14  To secure leadership buy-in from your organization, however, communicate the impact of the learning and of its alignment with business goals such as revenue or  staff retention . 15  This will help you secure a budget for learning, and time allowances for individuals participating in learning initiatives.

Step 5: Co-create learning pathways with employees

Beyond the C-suite, it’s absolutely essential to have employee support in skills development. While you conduct in-depth checks at the analysis stage, make sure you circle back with individuals to ensure your new learning pathways align with their goals, too.

Where immediate skills gaps aren’t addressed, you can collaborate with individuals to craft personalized learning pathways that prioritize these. Later, you’ll continue working together on a plan for ongoing development that balances employee career goals, emerging skill gaps, and changing business needs.

Step 6: Track and measure progress

A deployed employee development plan doesn’t mean the end of your efforts. With the future of work in flux, you’ll need to keep monitoring your learning success metrics — new gaps may, after all, emerge, and employees may not be meeting their training goals, which will call for a  strategy reevaluation . Learning success metrics will equip you to continuously assess the effectiveness of your development plan, and find ways to improve alignment with business goals.

Step 7: Ongoing repetition

Learning and development are part of an ongoing process that evolves and builds on itself. To keep making gains and establish a system where learning, growing, and skills development are encouraged at all levels, you should work to establish a  culture of learning .

An emphasis on learning helps teams to feel motivated, valued, and excited to progress within the organization — and within their career. For insights into building a culture of learning, take a look at our white paper,  here .

A roadmap for learning success

With this roadmap that takes you from analysis all the way to implementation and iteration, you have everything you need to establish a learning strategy that’s customized to the evolving needs of organizations and individuals, and primed to  close skills gaps.

Need help getting started? We get it. In a shifting learning landscape, it helps to have a guide.  Contact  an edX learning and development consultant to discuss the learning solutions your team needs.

Accelerate the workforce of the future, with edX

Whether you’re a business leader, L&D executive, or other professional, we offer compelling data and insights for why an outcomes-based skills program is key to succeeding in tomorrow’s workplace.

• GetSmarter. (2022).  Your Human Capital Strategy for Digital Transformation . Retrieved August 9, 2022.
• GetSmarter. (2022).  Your Human Capital Strategy for Digital Transformation.  Retrieved August 9, 2022.
• Harvard Business Review. (2022).  Create Learning Pathways to Close Your Organization’s Skills Gap.  Retrieved August 9, 2022.
• Apty. (2022).  Employee Training Needs Analysis: Ultimate Guide for L&D Professionals.  Retrieved August 10, 2022.
• HRHelpBoard. (undated).  Training Needs Analysis.  Retrieved August 10, 2022.
• Organisation for Economic Co-operation and Development. (2021).  What happened to jobs at high risk of automation?  Retrieved August 10, 2022.
• Growth Engineering. (2021). T raining Needs Analysis: A Complete ‘How To’ Guide.  Retrieved August 10, 2022.
• Apty. (2022).  Employee Training Needs Analysis: Ultimate Guide for L&D Professionals . Retrieved August 10, 2022.
• GetSmarter. (2021).  Five Pioneering Skills You’ll Need By 2025.  Retrieved August 10, 2022.
• GetSmarter. (2021).  Five Pioneering Skills You’ll Need By 2025.  Retrieved August 10, 2022.
• Harvard Business Review. (2022).  Create Learning Pathways to Close Your Organization’s Skills Gap . Retrieved August 9, 2022.
• Thinkific. (2021).  How To Design An Effective Learning Path.  Retrieved August 10, 2022.
• World Economic Forum. (2021).  Upskilling for Shared Prosperity . Retrieved August 9, 2022.
• LearnUpon. (2020).  Leadership Buy-In: A Guide to Training Success.  Retrieved August 10, 2022.

Related Resources

Employers are seen as the new post-secondary colleges, but can they deliver?

edX surveyed 1,600 executives and professionals about their expectations for learning and development on the job The arrival of advanced generative AI, and now ChatGPT, has sent a clear message to workers in nearly every sector: The AI revolution is here. Employers are turning to automation to deliver on their business goals, with C-suite executives […]

DEI In The Workplace: 10 Ways L&D Managers Can Turn Insights Into Action

The most critical social imperative for any business today is diversity, equity, and inclusion (DEI). Just ask any recruiter: 49% of those recently surveyed said that jobs seekers do inquire about DEI initiatives. What is more, 44% of all surveyed recruiters reported that some of the candidates they had been in contact with had either […]

• A Sample Skill Acquisition Centre Business Plan
• Post author: Ane
• Post published: July 29, 2020
• Post category: BUSINESS-PLAN-AND-FEASIBILITY-STUDY / Business Tips / C.A.C. INCORPORATION
• Post comments: 0 Comments

A Sample Skill Acquisition Centre Business Plan – We present here for you a sample of the Skill Acquisition Centre business plan applicable to Nigeria. In fact, this is a business plan for a vocational training institute. It gives you all the details you require as a business plan for starting a training institute. In other words, it’s a must-read for a business plan for youth empowerment. Read more about A Sample Skill Acquisition Centre Business Plan here.

It presents a Skill Acquisition Business Plan with three Years of Financial reports. So, if you are interested in raising funds to either kick-start or expand your vocational center, you will need this post as a template. In fact, it’s a must-read for everyone intending to start a Vocational School & Training Centre.

The Uses of this proposal:A Sample Skill Acquisition Centre Business Plan

Table of Contents

This Sample Skill Acquisition Centre Business Plan can be used for government proposals. It’s also good as a start-up road map. And when you are into a competition, please resort to this post. In fact, this particular model which is automatically generated by a world-class business plan software gives you all the details you need. Therefore, there is a comprehensive monthly and annual analysis for three years. Buy a copy today by contacting us.

Complete Skill Acquisition & Consults:

This is a firm of skill acquisition, fashion designers and beauty modeling enterprise consultants based in Abuja. We parade the most efficient and large-scale fashion design and beauty modeling skill acquisition in Abuja.  As you know skills and motivation is for proper functioning in society and contribution to the economy. The importance of acquiring entrepreneurial skills includes Self-employment, income generation and self-satisfaction/passion.

Our Service Offering: A Sample Skill Acquisition Centre Business Plan

Furthermore, among our service offerings include

• Hair Styling (Unisex) – This is an important part of the health and beauty industry. They are responsible for cutting and styling clients’ hair.
• Fashion Designing – Style and design go hand in hand in making our clothes.

Furthermore, are;

• Makeup Artistry – Your look matters. So we work on your look here.
• Event Planning – We plan and educate you to learn how to do this.
• Electrical Repairs – If you need this skill, you are well come.
• Home Cleaning – Cleaning services are both for home and industrial.
• Arts and Crafts – Talent plays a great role here.

NOTE: For each of these business ideas, there is a suitable business plan. You can contact us for any., or a combination of them.

Problem to Solve @ A Sample Skill Acquisition Centre Business Plan

Furthermore, we help you develop and support your services to start and maintain existing businesses. In fact, that is to help you develop your business ideas properly and follow statutory guidelines in running your businesses. So, we aid them in incorporating and plan their business operations.

Our solution:

In addition, we make every effort to ascertain the initial capital investment required. Then we help ascertain their fixed assets, and working capital. And personnel cost. In fact, these will lead us to forecast for turnover cost of sales, income statement, and balance sheet.

Marketing Activities: A Sample Skill Acquisition Centre Business Plan

Furthermore, we will use our website to create serious awareness of our services. Our marketing banner will be spread around the major markets in Abuja. In fact, we will distribute over 500 flyers and ensure announcements are made for our services in social media.

Sales channels:

As a matter of fact, we have so schedule our sales channels to go through;

• customer offices
• Online Marketing
• Social Media

Target Market

Competition: This is very important for us. This is because in addition to fellow acquisition centres, there are also of alternative services.

Current alternatives – A Sample Skill Acquisition Centre Business Plan

In fact, the competitive landscape for our services is not so severe.  However, there is these competition from freelance consultants. The direct competitors we have are other consultants who equally organize for SMEs and NDE’s training. At any rate, most of them are not professional artisans. In fact, our challenges are how to figure out approaches to outcompete these alternative service providers.

Our advantages:

Furthermore, we have identified great advantages over our other competitors and alternatives. This is because our office is easily accessible to our local clients. In fact, our work is easier and faster. Our service products are of better tasting, longer lasting, and is backed by better customer service. In fact, our business plan model is a specialized solution that is better for our particular group of customers. 

Execution: Marketing & Sales For A Sample Skill Acquisition Centre Business Plan

Marketing plan:.

Our marketing strategy is going to be all-embracing. Therefore, there is going to be all kinds of marketing activities that will attract customers. In fact, we are investing in signage, and physical and digital advertising. Others are going to be by email newsletters, search engine optimization, social media outreach, TV and radio commercials. As a matter of fact, their related expenses are included in our forecast.

Sales Plan – A Sample Skill Acquisition Centre Business Plan

On the other hand, we have a definite plan on how to actualize our sales forecast. Our focus is going to turn those prospects who express interest in our services through visiting our office to paying customers. Then, those who sign up for our newsletter and those who ask for estimates equally into paying customers. By this we will not only have enough customers who desire our products and services but also persons who need to acquire skills through our facility.

Operations – Locations & Facilities – A Sample Skill Acquisition Centre Business Plan

In this regard, our office is located at MOPOL Checking point, Nyagwa. This is a popular location in Abuja. In fact, this location is of great advantage to our business. This is because it’s easily accessible. In fact, we get a lot of vehicle or foot traffic passing by. Another fact is that our target customers are heavily represented in this neighborhood’s demographics.

On this too, we have recently acquired world-class state of arts machines and tolls capable of the automatic production of goods and services. This will certainly promote skill acquisition of our learning students.

In addition, the CAC platforms for business registration is of great help to us. Again, is the SMEDAN business plan development software which is available for all upcoming entrepreneurs. On the other hand, NDE recently floated automatic systems to facilitate skill acquisitions.

Furthermore, we apply most cashless applications in receiving and making payments. In fact, online payment is the order of the day.

Equipment & Tools

Furthermore, tools for vocational training include technical training equipment and automotive education equipment.  Therefore, the major equipment needed for our services include sewing machines, designing machines, wood craft machines, lap tops, etc. These are among our installed facility.

Milestones & Metrics

Milestones table for a sample skill acquisition centre business plan.

Key metrics

In this regard. our major target is to get at certain level of traffic on our website. In addition is the ability to convert a reasonable percentage of those visitors into customers. This increase in turnover will enable us keep at least N2, 000,000 monthly as cash in our bank account.

Company Overview: A Sample Skill Acquisition Centre Business Plan

Ownership & structure.

Complete Skill Acquisition & Consults is a firm of skill acquisition, fashion designers and beauty modeling enterprise consultants based in Abuja.

The firm was incorporate 15th December, 2016. The directors are Deacon Ane Nworgu, the Managing Partner. Others are Miss Gift Enyinnaya the secretary, and Mr King Enyinnaya our third director. Complete Skill Acquisition & Consults (CSAC) is an enterprise.

Company history

Furthermore, this firm was started by Deacon Ane Nworgu who is a Fashion designer. After retirement from Industrial Consultants International Limited, (ICIL Ltd) as head of skill acquisition department in 2015, it became imperative that I start this office to render professional services to members of the public.

In addition, there has been a lot of collaborations with other collegue on most of these professional services. As a matter of fact, since the inception of this firm in 2016, it has done a lot of skill acquisition and event management for individuals and organisations. In fact most of these clients come through our company website – http://completefmc.com

Management team for A Sample Skill Acquisition Centre Business Plan

Our management team is made up of Deacon Ane Nworgu, the managing partners. Others are Miss. Gift Enyinnay our secretary and Mr. King Enyinnaya our ICT  expert. A key staff member is Mr. Henry who is our Marketing/Admin officer.

In addition, Barrister Dacid Oguadimma has been of immense help to us. Others are Mr. Victor a fellow auditor and Mr. Enang who manages our incorporatiin processes.

Financial Plan Forecast for A Sample Skill Acquisition Centre Business Plan

Key assumptions.

Furthermore, our revenue projection is based on past results. Others are from market research. In fact, based on the number of readers who visit our website recently, our estimates are reliable. Therefore, we expect an annual growth of 10% from this year 2020. Our key hires has been those involved in our CAC incorporation processes which also constitute our notable expenses. The level of profit we expect to generate this year is high.

Personnel Cost Analysis:

Personnel Cost Chart

Direct Cost Analysis:

RELATED TOPICS :

• Over 50 AGSMEIS LOAN BUSINESS PLAN TENPLATES
• OUR AGSMEIS TRAINING CENTRE
• DRY CLEANING BUSINESS PLAN FOR AGSMEIS NIRSAL LOAN
• How does AGSMEIS Loan work?
• Get more here
• Apply for AGSMEIS On-line training here
• What You should do to get AGSMEIS Loan
• Who is Eligible for AGSMEIS Loan
• Current AGSMEIS Loan Requirements

COMPLETE FULL MARKS CONSULTANTS (CFMC) LIMITED:

Finally, CFMC LTD is a firm of chartered accountants, and management consultants. Professionally, we are trained for business counselling. Furthermore, as accredited consultants with CAC, SMEDAN and other government agencies, we handle your statutory licensing and registrations.

OUR CONTACTS For A Sample Skill Acquisition Centre Business Plan

+234 8034347851 and 09053130518, or email us at [email protected]

In fact, I need to thank you for reading through. You can bookmark this page for updates. But then, this is time to think of helping a brother, sister or friend. Let them know what we can do for them. You can do this by sharing this post. Like us on our Facebook for updates.

CONTINUE READING HERE

Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.

Share this:

You might also like.

How To Apply: Ecological Fund Grants For Youth In Nigeria/Business Plan for Ecological Fund Grants In Nigeria

One Neglected Important Aspect of Your Business Plan To Be Corrected

Interior Design Services Marketing Plan Model That Works

Leave a reply cancel reply.

ZenBusinessPlans

Home » Sample Business Plans » Education » School

How to Write a Vocational School & Training Center Business Plan [Sample Template]

Are you about starting a vocational training center? If YES, here is a complete sample vocational school business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a vocational school. We also took it further by analyzing and drafting a sample vocational training business marketing plan template backed up by actionable guerrilla marketing ideas for vocational schools. So let’s proceed to the business planning section.

Why Start a Vocational School & Training Center?

There are countless number of people out there who are trying to acquire skills that will enable them put food on their table, pay their bills and ultimately become their own boss, and a vocational school & training center is just an ideal place they can get the journey started.

You can be rest assured that your services will always be in demand not only by young or old people who could not make it to the university or college, but also by graduates who would want to start a skill based business of their own. The truth is that if your vocational school & training center has loads of courses (trades) and is government approved, then you may not have to struggle to persuade students to enroll in your school.

Just like most businesses, the trade and technical school industry is open for as many people that are interested in the industry as long as you have what it takes to run an accredited vocational school & training center. Even if you don’t have the finance and other requirements, you can come into the industry by starting out as a small music school or driving school in your neighborhood.

If you have decided to start a vocational school & training center, then you should must make sure that you carry out thorough feasibility studies and also market survey.

Lastly, you would need a good business plant to be able to launch a successful business, and below is a workable vocational school & training center business plant template that will help your draft yours.

A Sample Vocational School & Training Center Business Plan Template

1. industry overview.

Vocational school and training center falls under the Trade and Technical Schools industry, and it comprises of schools that offer vocational and technical training in a wide range of technical subjects and trades. The trainings offered by trade and technical schools often lead to job-specific certification.

Instruction may be provided in diverse settings, such as the company’s training facilities, the workplace, the home or through distance-learning methods. Key areas in this industry include music schools and musical instrument training, cosmetology and barber schools, flight training, apprenticeship training and other technical training.

If you are a keen follower of the Trade and Technical Schools industry in the united states, you will agree that the industry has experienced fluctuations over the last five years due to the recession and stagnant growth in federal funding for such schools.

High unemployment has caused individuals to seek out further education, while employers are increasing their training requirements to remain competitive. Going forward, decreasing unemployment rates combined with the increasing tuition of four-year colleges will both boast enrollment in vocational training, and hamper industry growth.

Statistics has it that in the United States of America alone, there are about 8,876 registered and licensed (accredited) trade and technical schools scattered all across the country responsible for employing about 127,260 people and the industry rakes in a whooping sum of $13 billion annually. The industry grew at -6.3 percent annual growth within 2012 and 2017. It is important to state that there are no establishment in this industry that has a lion market share.

A recent report released by IBISWorld shows that the Trade and Technical Schools industry operates in a countercyclical manner. The report shows that the industry revenue grew significantly as a result slow economic growth earlier over the five years to 2016, but has suffered subsequently. Sluggish economic activity helped the industry to grow as the unemployed sought professional training to improve their job prospects.

As national unemployment has decreased however, so has industry revenue. The report further stated that in recent years, the restructuring of the US economy has accelerated. Service industry professions are in higher demand than ever, while growth in manufacturing continues to fail to impress. As a result, individuals displaced by major economic change are still retooling their skillset.

Due to the fact that it is stressful to get government accreditation for a standard vocational school & training center in the United States, it will be safe to say the industry is under saturated. It is important to state that entrepreneurs who are into training people on various trade/skills such as how to drive, how to play musical instrument, how to cook and how to dance et al can easily be found without stress.

Some of the factors that encourage entrepreneurs to start their own vocational school & training center despite the fact that the business is challenging could be that the business is highly profitable, they can easily get funding and support from government and charity organizations and the business can be started in any part of the world.

Starting a vocational school requires professionalism and good grasp of the trade you want to teach people. Besides, you would need to get the required certifications and license (accreditations) and also meet the standard for such business before you can be allowed to start. One good thing about the Trade and Technical Schools industry is that there is readily available market for their services. So, if you are well positioned and you know how to impart skills to students, you will always smile to the bank.

2. Executive Summary

Richmond Jones® Vocational Training Center, LLC is a registered and accredited trade and technical school that will be located in Orange County – California. We are registered under the United States’ Government. We are well equipped to train people on various technical and vocational skills.

We are set to offer vocational and technical trade trainings such as automobiles, electrical works, music schools and musical instrument training, cosmetology and barber schools, flight training, apprenticeship training and other technical training.

At Richmond Jones® Vocational Training Center, LLC we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own vocational school & training center in Orange County – California.

We are quite optimistic that our values and quality of service offering will help us drive our center to enviable heights and also help us attract the number of students that will make the business highly profitable.

We are in the Trade and Technical Schools industry to favorably compete with other leading brands in the industry. Our corporate business goal is to be among the top 5 vocational school & training centers in the United States of America.

As a company, we are willing to go the extra mile to invest in some of the finest professionals we can find and also, we have put process and structures in place that will ensure that we are always at the top of our game when it comes to impacting knowledge. We have been able to secure permits from all relevant departments in the State of California.

We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality and safe trainings and that is exactly what we will do.

Richmond Jones® Vocational Training Center, LLC is owned and managed by Richmond Jones and other members of his faculty. Richmond Jones has over 15 years’ hands on experience in the Trade and Technical Schools industry in the United States and he is a Certified Technical Skill Trainer and has certification in a Niche Area (Trade and Technical Vocation).

3. Our Products and Services

Richmond Jones® Vocational Training Center, LLC is an accredited vocational school & training center that offers a wide range of services that revolves around the Trade and Technical Schools industry. These are the services we will offer as a vocational school & training center;

• Automobile technology
• Beauty and cosmetology training
• Apprenticeship training programs
• Commercial or graphic art training
• Bartending training
• Electronic equipment repair training schools
• Firefighter training
• Medical technician training

4. Our Mission and Vision Statement

• Our Vision is to become the number one government approved vocational school & training center in the whole of Orange County – California, United States of America.
• Our mission as a government approved vocational school & training center is to develop a highly successful, and profitable vocational school & training center which provides quality training in our community and to become a standard for an ideal vocational school & training center.

Our Business Structure

Richmond Jones® Vocational Training Center, LLC is aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our vocational school & training center on the right foundation.

We want to build a business of dedicated workforce who will go all the way to ensure that our students are satisfied and they get value for their money when they enroll in our training center. We aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why will be putting structures and standard operating processes in place that will help us deliver excellent trainings and run the business on auto pilot.

Richmond Jones® Vocational Training Center, LLC will employ professionals and skilled people to occupy the following position;

• Head of The School/School Coordinator

School Administrator

Instructors

Marketing and Sales Executive

Client Service Executive

5. Job Roles and Responsibilities

Head of the School / School Coordinator:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board
• Responsible for overseeing the smooth running of HR and administrative tasks for the school
• Regularly hold meetings with key stakeholders (students and member of the school board) to review the effectiveness of the schools’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily activities of the school.
• Responsible teaching students based on the vocation they enrolled for.
• Accesses the progress of students under their care
• Ensures that students abide by the rules and regulations of the regulating bodies in the United States of America
• Contributes his/her quota towards growing the school
• Receives complaints from students and channel it to the appropriate quarters
• Handles any other duty as assigned by the school coordinator.
• Identifies, prioritizes, and reach out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the school.
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization.
• Welcomes students and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with students on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Consistently stays abreast of any new information on the schools’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to students when they make enquiries
• Distributes mails in the organization
• Handles any other duties as assigned by the school authority

6. SWOT Analysis

In the United States, vocational school & training center is one of the many businesses that can easily generate business deals with little stress as long as they are well positioned. We are building a standard vocational school & training center with various training areas which is why we have decided to subject our business idea to SWOT Analysis.

Ordinarily we can successfully run a normal vocational school & training center without the stress of going through the required protocol of setting up a new business, but because of the nature of the vocational school & training center we want to establish, we don’t have any option other than to follow due process.

We hired the services of a HR and Business consultant with bias in startups to help us conduct SWOT analysis for our company and she did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Richmond Jones® Vocational Training Center, LLC;

Richmond Jones® Vocational Training Center, LLC is centrally located in an area with the right climatic conditions and demographic composition for the kind of business we want to run. Another strength that counts for us is the power of our team; our workforce and management. We have a team that are considered experts in the vocational school line of business, a team of hardworking and dedicated individuals.

Richmond Jones® Vocational Training Center, LLC is a new business and we may not have the financial muscle to acquire the latest equipment needed to train students, to attract and retain the best hands in the industry and also to sustain the kind of publicity we want to give our business.

• Opportunities:

We are centrally located in one of the busiest areas in Orange County – California and we are open to all the available opportunities that the city has to offer. Our business concept and staff strength also positioned us to accommodate over 100 students per time.

The truth is that there are no standard vocational school & training centers within our area; the closest to our proposed location is about 10 miles away. In a nutshell, we do not have any direct competition within our target market area.

Some of the threats that are likely going to confront Richmond Jones® Vocational Training Center, LLC are unfavorable government policies , seasonal fluctuations, demographic/social factors, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where our vocational school & training center is located.

7. MARKET ANALYSIS

• Market Trends

The truth is that any vocational school & training center that has good records and loads of positive testimonials from students who have passed through the school will always thrive.

Another common trend in the industry is that in the bid to survive global economic meltdown and to ensure steady flow of income to effectively run the business, most players in the industry engage in other related services. Some of them even go as far as establishing agency services to provide professional and certified pilots for clients and some also offer specialized training for executive students.

It is a known pattern that as unemployment declines, demand for courses provided by this industry will drop, as further education and training become less essential to finding employment. The national unemployment rate is expected to decrease significantly over 2017, posing a serious potential threat to the industry.

As a matter of fact, about half of total government postsecondary education comes from state governments while federal contributions comprise mostly of grants bestowed on universities to be used for specific research. A rise in government funding for universities will cause enrollment in technical and trade schools to grow, as government funding typically increases affordability for students who need education loans. Government funding for universities is expected to increase over 2017, representing a potential opportunity for the industry.

8. Our Target Market

Prior to choosing a location for our vocational school & training center, we conducted thorough feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings.

Essentially, the demographic and psychographic composition of those who require our services cut across individuals, school leavers, corporate organizations, aspiring entrepreneurs and religious organizations who need to acquire trade and technical skill sets.

• Our competitive advantage

In spite of the fact that vocational schools scale through hurdles before they are established does not mean that there are no real competitions in the industry. The truth is that no matter the line of business that you are involved in, as long as it is called business, you will definitely face one form of competition or the other and vocational school & training center is not an exemption.

So, if you are looking towards setting up this type of business, it is advisable to do your due diligence before launching the business if indeed you want to succeed.

Our competitive edge is that we have the ability to quickly adopt new technology, we have access to highly skilled workforce and our location is in fact one of our major strengths because we are located with the right demography for the kind of business we run.

Another strength that counts for us is the power of our team and management. We have a team that are considered experts in the vocational school & training center line of business, a team of hardworking and dedicated individuals.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Richmond Jones® Vocational Training Center, LLC is established with the aim of maximizing profits in the Trade and Technical Schools industry and we are going to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.

Richmond Jones® Vocational Training Center, LLC will generate income by offering the following services;

10. Sales Forecast

We are well positioned to take on the available market in and around Orange County – California and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow our vocational school & training center and our student base.

We have been able to examine the vocational school & training center, market we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Richmond Jones® Vocational Training Center, LLC, it is based on the location of our business and of course the wide range of related services that we will be offering;

• First Fiscal Year: $375, 000
• Second Fiscal Year: $650, 000
• Third Fiscal Year: $1 million

N.B : This projection was done based on what is obtainable in the vocational school & training center line of business and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same related services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing strategy adopted by Richmond Jones® Vocational Training Center, LLC is going to be driven basically by excellent customer service and quality training delivery. We will ensure that we build a loyal customer base.

We want to drive sales via the output of our jobs and via referral from our satisfied students. We are quite aware of how satisfied students drive business growth especially businesses like vocational school & training centers and related services.

Richmond Jones® Vocational Training Center, LLC is strategically located and we are going to maximize the opportunities that is available which is why we spent more to locate the business where it will be visible and accessible to our target market.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets.

Our goal is to grow Richmond Jones® Vocational Training Center, LLC to become the leading vocational school & training center in Orange County – California which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with in our line of business.

Richmond Jones® Vocational Training Center, LLC is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our vocational school & training center by sending introductory letters alongside our brochure to schools and other key stake holders in and around Orange County – California
• Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our business
• Post information about our vocational school & training center and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
• Place a small or classified advertisement in the newspaper, or local publication about our vocational school & training center and the services we offer
• Leverage on referral networks
• Advertise our vocational school & training center in relevant entertainment magazines, newspapers, TV and radio stations.
• Attend relevant expos, seminars, and business fairs et al to market our services
• Engage in direct marketing approach
• Encourage the use of Word of mouth marketing from loyal and satisfied students
• Join local chambers of commerce and industry and other relevant groups to market our services.

11. Publicity and Advertising Strategy

Richmond Jones® Vocational Training Center, LLC is set to create a standard for the vocational school & training center business not only in Orange County – California, but throughout the United States of America which is why we will go all the way to adopt and apply best practices to promote our business.

Good enough there is no hard and fast rule on how to promote a vocational school & training center business. Here are the platforms we intend leveraging on to promote and advertise Richmond Jones® Vocational Training Center, LLC;

• Encourage our loyal customers/students to help us use Word of Mouth mode of advertisement (referrals)
• Advertise our vocational school in relevant aviation magazines, local newspaper, local TV and radio stations
• Promote our vocational school online via our official website
• List our vocational school on local directories (yellow pages)
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et al to promote our brand
• Install our billboards on strategic locations all around Orange County – California
• Direct coupon mailing approach
• Distribute our fliers and handbills in target areas
• Ensure that all our staff members wear our customized clothes, all our mini – aircrafts, and official cars are customized and well branded.

12. Our Pricing Strategy

At Richmond Jones® Vocational Training Center, LLC we will keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance.

We are aware that there are some students that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such students’ needs. The prices of our training services and certifications will be same as what is obtainable in the open market.

• Payment Options

The payment policy adopted by Richmond Jones® Vocational Training Center, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation in the United States of America.

Here are the payment options that Richmond Jones® Vocational Training Center, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via mobile money platform
• Payment via Point of Sale Machines (POS Machine)
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for registering and services rendered without any stress on their part. Our bank account numbers will be made available on our website and promotional material.

13. Startup Expenditure (Budget)

If you are looking towards starting a vocational school & training center, then you should be ready to raise enough capital to cover some of the basic expenditure that you are going to incur. You will need money to secure a standard facility, acquire different types of training machines and equipment, acquire license and permits, relevant software apps and you will need money to pay your workforce and bills for a while until the revenue you generate from the business becomes enough to pay them.

We have been able to pull cash that will be enough for us to successfully launch a standard and government approved vocational school & training center in Orange County – California. The items listed below are the basics that we would need when starting our vocation school and trade center in the United States, although costs might vary slightly;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of – $10,000.
• The total cost for hiring Business Consultant – $5,000.
• The amount needed for the purchase of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
• The total cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
• The total cost for leasing facility for the business – $150,000.
• The total cost for equipping our lab – $500,000
• Other start-up expenses including stationery – $1000
• Phone and utility deposits – $3,500
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, tables and chairs et al) – $4,000.
• The cost of launching a website – $600
• The cost for our grand opening party – $15,000
• Miscellaneous – $5,000

Going by the report from the market research and feasibility studies conducted, we will need about seven hundred and fifty thousand ( 750,000 ) U.S. dollars to successfully set up a medium scale but standard vocational school & training center business in the United States of America.

Generating Funds/Startup for Richmond Jones® Vocational Training Center, LLC

Richmond Jones® Vocational Training Center, LLC is owned and managed by Richmond Jones and other members of the faculty. They are the financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

• Generate part of the startup capital from personal savings and sale of his stocks
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $350,000 ( Personal savings $300,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $400,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Richmond Jones® Vocational Training Center, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our vocation and trade training services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Richmond Jones® Vocational Training Center, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a standard facility and reconstructing the facility: Completed
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Purchase of training tools and equipment and supplies: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
• Creating official website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in various industries: In Progress

More on School

Academia.edu no longer supports Internet Explorer.

To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to  upgrade your browser .

Enter the email address you signed up with and we'll email you a reset link.

• We're Hiring!
• Help Center

Business Plan for PWF Technical and Vocational Training Centre in Orangi Town Karachi

This is the Business Plan for Pakistan Workers Federation’s Technical and Vocational Training Centre (TVTC) in Organi town, Karachi, Pakistan. It is a confidential document and meant for seeking investment for revival of the TVTC. Therefore only limited content has been made public here. Funding support for this Business Plan has been provided by the International Labour Organization (ILO), Pakistan. ILO does not however endorse the content of the document in any manner whatsoever. Copyrights of this Business Plan belong solely to PWF. A through research on existing demand among youth, parents and employers, current and potential competition, and sustainability options was carried out to feed the development of this Business Plan for WPF.

Related Papers

Journal of Science and Medicine in Sport

Louisa Peralta

Global inventory of regional and national qualifications frameworks 2017

James Keevy

International inventory on qualifications frameworks - contribution of Southern African case studies

Maria Balarin

Go back to search results or Start a new search Vocational and business training to improve women’s labour market outcomes in low- and middle-income countries Authors: Marjorie Chinen, Thomas de Hoop, Lorena Alcázar, María Balarin, Josh Sennett Published date: 2017-12-21 Coordinating group(s): International Development Volume: 13 Title (1064 downloads) Protocol (860 downloads) Review (112 downloads) Plain Language Summary (92 downloads) Download all files About this systematic review This Campbell systematic review examines the impact of vocational and business training targeted at women in low- and middle-income countries. The review summarises evidence from thirty-five quantitative studies with an experimental or quasi-experimental design. The review summarises the impact of 30 interventions, containing data from over 80,000 women. The qualitative narrative meta-synthesis includes findings from 50 studies.

Ashwani Aggarwal

daniel njuguna

Radhika Iyengar

Elitsa Garnizova

This paper discusses the current state of the TVET system in Myanmar, focusing on the role of the private sector. it identifies constraints on skills development and provides recommendations to determine future policy measures that would improve and strengthen strategic areas for TVET development, including how to transition from supply-driven to demand-driven labour market and improvement of the TVET delivery and quality.

Pascal Ngosa

Carmen Rosa Pérez Aguilera , Denia Del Valle de Letona

TVET on Sustainable Tourism in Jamaica

Loading Preview

Sorry, preview is currently unavailable. You can download the paper by clicking the button above.

RELATED PAPERS

Related topics.

•   We're Hiring!
•   Help Center
• Find new research papers in:
• Health Sciences
• Earth Sciences
• Cognitive Science
• Mathematics
• Computer Science
• Academia ©2024