NVI Technical College Information

Market Feasibility

Market Feasibility

Trade & Technical Schools in the US IBISWorld Industry Report

Information on the sales organization and management; Nature and

Definition

extent of market and market area; Marketing plans for sale of

This industry includes schools that offer vocational and technical

projected output - principal products and byproducts; Extent of

training in a variety of technical subjects and trades. Training often

competition including other similar facilities in the market area;

leads to job-specific certification. Instruction may be provided in

Commitments from customers or brokers - principal products and

diverse settings, such as the company ’ s training facilities, the

byproducts. Adequacy of raw materials and supplies. Projected total

workplace, the home or through distance-learning methods. Major

A

supply from members and non-members. Projected competitive

segments include cosmetology and barber schools, flight training,

demand for raw materials. Procurement plan and projected

apprenticeship training and other technical training.

procurement costs. Form of commitment of raw materials

(marketing agreements, etc.).

Executive Summary

Favorable economic conditions have made continued education

Market Feasibility Methodology

more affordable to more US households, leading to growth in

In this section, abiding by the USDA guide, an overview of the

demand for trade and technical education. However, in 2020, the

industry provided by National Center for Education Statistics is

onset of the COVID-19 pandemic led many students to defer their

presented to give a background and structure of the industry.

study plans. The magnitude of hands-on experience involved in

Thereafter, the specific USDA items are presented whereas primary

vocational training also contributed to the decrease in demand as

and secondary research is used to answer the feasibility tests.

many technical schools simply couldn't replace their training

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

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