NVI Technical College Information

Market Feasibility

Performance

The COVID-19 pandemic dragged down revenue

Key Takeaways

• Amid the outbreak of the COVID-19 pandemic, most schools

• Economic growth in the wake of COVID-19 has dampened

were required to temporarily shutter to slow the spread of the

demand for vocational schools. The industry ultimately benefitted

coronavirus, forcing technical and trade schools to only offer

from spiking unemployment amid the pandemic, but the

distance learning.

recovery's addition of new jobs has reduced the need for workers

to upgrade their resumes.

• Programs like welding and metallurgical

instruction,

A

cosmetology, culinary and other skill training can't be fully

• Trade and technical schools faced shutdowns amid the

delivered online as students in these fields need a high degree of

pandemic. While some had already integrated online platforms

hands-on experience.

to augment training where possible, the high degree of hands-on

instruction the industry provides forced many schools to

• While many programs continued operating remotely, many trade

temporarily close down entirely.

schools didn't have the resources to roll out new online courses.

Those who had already invested in online platforms were more

Performance Snapshot

protected from the drop in revenue most of the industry faced

What's driving current industry performance?

amid quarantines.

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

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