VOCATIONAL SCHOOL BUSINESS PLAN SAMPLE TEMPLATE
Want to start a vocational school but can’t seem to figure out how to write your business plan?
Lots of entrepreneurs face such a challenge. However, the good news is that you’re reading this article. Here, you’ll find guidance on how to write one.
This vocational school business plan sample helps you with a template with which to work with.
This should help resolve any problems you are faced with. The sections included providing a rough sample of what piece of information to include. You only need to replace such information with what holds for your vocational school business.
Life Goals LLC is an accredited and registered vocational training school located in Tucson, Arizona. We offer a wide range of courses which cater to the needs of the market. Our departments are well equipped to provide hands-on training in all the courses we offer.
A few of the courses we provide include web developer, electrical services, plumbing, and HVAC repair, installation and maintenance among several others.
The economy is skill-driven. As such, college degrees in most cases aren’t sufficient enough to produce the skill needed to boost productivity and creativity. That has influenced our decision to provide skilled manpower to drive economic growth.
We seek to be known as a center of excellence when it comes to vocational training not only in Tucson but in the whole of Arizona and beyond.
To achieve this, we will be entering into strategic partnerships with colleges within the Tucson area for more comprehensive training of undergraduates in vocational skills they have interest in.
Life Goals LLC is building a rich curriculum that will make it the preferred choice among aspiring vocational trainees. Through our exceptional training services and the recruitment of professional and experienced instructors, our sights are set on becoming the foremost vocational training school in Tucson.
These consist of a diverse variety of courses ranging from electronic equipment repair training, medical technician training and automobile technology.
Other departments include bartending training, cosmetology and beauty, graphic and commercial art, apprenticeship training, and firefighting among others. These are just broad categories each containing a long list of courses.
We are actively seeking ways to raise the needed funding for a full take-off of all our training activities. This includes the creation of new departments, hiring a more qualified and experienced workforce, the purchase of additional equipment and the launch of our mechanical workshop. The needed funding required stands at $3,000,000.00.
This will be sourced through a loan facility which will be obtained from our financial partners Bank ABC. Although current interest rates are low, we will be seeking ways to borrow get such loans at lower rates. We are open to exploring all the recommended alternatives.
Four months ago, we entered the third year of our operation. To commemorate this anniversary, we hired the services of a business consulting firm for a SWOT test. This is meant to enable us to assess the journey so far. The results were released with lots of insights about our operations brought to the fore.
The findings are summarized thus;
Our strength lies in the depth of our trainers and our curriculum. We’ve been able to put together a great team of professionals with significant years of experience garnered over a considerable period. Such experience has been brought to bear on how our training services are offered.
Another area of strength is in our desire to constantly keep up with the changing times. We have continued to expand our curriculum to accommodate new courses. The most recent being Artificial Intelligence and Machine Learning.
Our vocational school is underfunded. This has restricted our operations significantly. To function at full capacity, adequate funding will need to be sourced. We are currently finding the best ways to overcome this challenge.
We hope to get over our funding challenge within the shortest possible time
The future of work is fast changing. More emphasis is being placed on skills rather than degrees. The changing trend has made our services indispensable. What more? It has been observed that the number of people seeking vocational training has witnessed a sharp climb within the last half-decade.
Part of our expansion plans is a result of available data that shows the steady rise in demand for our services. We are well poised to take advantage of such opportunities.
A threat to our business is likely to arise from a severe economic downturn or recession. In such cases, lending institutions prioritize their activities and stop lending to businesses such as ours. This stalls growth, resulting in static business operations. Negative growth is likely to result.
Sales have seen modest climb over the entire period of our operations. However, this is likely to change with the planned infusion of cash. With the completion of our expansion drive, we have projected significant sales growth.
This projection covers three years from when such plans are fully implemented. This is shown in the chart below.
- First Fiscal Year $4,000,000.00
- Second Fiscal Year $10,000,000.00
- Third Fiscal Year $55,000,000.00
We are currently working closely with colleges within the Tucson area to attract undergraduate students to take part-time courses in our school. Also, we are spreading the word about our services through paid ads in print and electronic media channels. The online space is not being left out either.
An advantage we have over other vocational schools is the depth and quality of our instructors in addition to our curriculum. We have also made the extra effort to provide favorable working conditions in addition to an excellent working environment.
This has resulted in a well-motivated workforce plus and graduates that continue to make a mark in their chosen vocational professions.
This vocational school business plan sample provides you with a template to work with, in putting together a great plan. As you’ve read, this process isn’t difficult. It only requires some dedication to organizing your plan.