Technical School Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Technical School Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Technical School business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Given the extremely high expenses associated with the acquisition of a college education, many people have turned to technical schools in order to learn a trade. Common trades that are often taught at these institutions include carpentry, electrical contracting, plumbing, roofing, as well as general contracting. Many technical schools also offer a host of automotive focus services so that individuals can become qualified mechanics once they graduate.
One of the primary draws of a technical school so they typically have a much lower tuition rate than that of a college or university. It should be immediately noted that some technical schools are associated with community colleges. However, the demand for comprehensive technical school educations is increasing in many for-profit institutions have begun to develop the services so that individuals can be licensed and properly qualified to get a job upon their completion. In fact, many studies indicate a technical school graduates typically earn incomes of $50,000 to $70,000 per year upon graduation and carry only a fraction of the student at that is normally associated with a college or university education. As such, technical schools are always in demand especially during times of economic recession where people one and refueled where they are guaranteed to get a job upon graduation.
The startup cost associated with the new technical school can range substantially depending on the types of courses offered. Usually, these businesses have a startup cost ranging anywhere from $250,000 to about $1 million. A substantial amount as capital is typically used for the acquisition of real estate coupled with a substantial amount of tangible furniture, fixtures, and equipment. The gross margins generated from services rendered is typically around 80% to 90%.
One of the other important things to know is that many technical schools do have relationships with lenders as well as federal government programs that provide reimbursements and low-cost financing for individuals that want to enroll in the company’s programs. It is imperative that the owner-operator to develop these relationships so that students can easily finance her educations shortly after completing high school.
A technical school SWOT analysis should always be developed. As it relates to strengths, technical schools generate very high gross margins from their services and are relatively immune from negative changes in the economy. People are always going to want to become electricians, plumbers, mechanics, carpenters, and other associated trades people. The demand for the services does not wane during times of economic recession.
For weaknesses, these businesses do have very high operating expenses in their startup cost can be substantial. One of the key issues that is commonly faced by a new technical school is recruiting qualified master trades people that are able to provide instruction to students. However, once this is completed – the ongoing risks associated with these types of weaknesses is pretty minimal.
For opportunities, most technical schools expand their operations by either launching new facilities on their existing campus while concurrently integrating new programs that teach a variety of technical school disciplines. Additionally, many of these technical schools will develop apprenticeship and journeyman programs allow students to get on hands experience with master trades people.
For threats, major changes to federal programs that provide grants and low-cost financing the students for technical schools could change. However, technical school educations do you require substantial amount of money and as such these businesses are generally able to always produce revenues among students that want to learn a specialized trade. There is really nothing about this industry that is expected to change within the next 20 years.
Given the economic stability of these businesses, most financial institutions are willing to provide capital to launch is that the company. Of course, a technical school business plan is going to be required. This business plan should feature a three-year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business ratios page. Relating to industry research, there are approximately 9,000 technical schools within the United States employs 110,000 people either as a ministry staff or instructors. Each year these businesses generate about $10 billion in revenue. It should be noted that the growth rate of the industry is expected to grow faster than that of the general economy given that more people are turning towards technical school rather than receiving a traditional college or university education. Over the next five years, technical school revenues are expected to increase by about 3% per year.
Also central to the business plan, is the development of a demographic analysis that will showcase the population, population density, annual median household income, percentage of people under the age 18, and the number of people graduating from high school each year within the regional market. Is very important to note that a demographic analysis for this type of business should be heavily skewed towards people that are graduating from high school are not going to be entering college.
For the technical schools marketing plan, and expansive amount of capital should be allocated towards job fairs, developing relationships with high school guidance counselors, and engaging in broad-based online marketing strategy. Foremost, job fairs at high schools and development being relationships with guidance counselors are central to ensuring that the technical school can have near 100% enrollment at the onset of operations. Many guidance counselors, these days especially with the high cost of higher education, are encouraging students who would not typically otherwise enter college to become part of a trade school. This will allow the business to immediately have referrals once the doors open.
As with all businesses these days, a technical school online presence should be substantial. The website should feature information about all courses offered, certificates offered, hours of operation, tuition information, tuition financing information, and any other piece of information that is relevant to the overall operations of the technical school. Many for-profit owned institutions of higher learning will also embed substantial e-commerce functionality into the website so that students cannot only enroll in courses but also make arrangements for payment or receive financing for their educations. This is going to be one of the central ways in which the technical school will be able to reach near 100% occupancy within its first few years of operation. Typically, the cost associated for developing this type of expansive website would be anywhere from $10,000 to $50,000 depending on whether or not course selection and related functionality is going to be embedded with e-commerce operations.
Technical schools are an extremely important part of any society, especially in the United States where the specialization of labor is probably prevalent. These businesses are always going to be sought after by recent high school graduates or people that are looking to start a second career. As such, technical schools are a very strong position to continue to grow especially as the labor market within the United States focus is substantially more on services rather than manufacturing. These businesses can be highly lucrative, and they will enjoy substantial growth over the next 10 to 20 years.