NVI Technical College Information

Market Feasibility

• Through online courses, vocational institutions can offer classes

• Unemployment also makes it difficult to devote time to attending

to a greater number of students without incurring higher rent

a school, though, as a lack of income makes finding a job that

expenses or employing more instructors.

will pay the bills the number one priority for many.

• Online courses also enable students to save time and money on

• Strong government stimulus and eviction moratoriums enabled

commuting. The success of this format has enabled trade schools

consumers to do without steady income, though, buoying

with the ability to teach online to boost profit by cutting costs.

demand for vocational schools. Per capita disposable income

A

also rose through the pandemic, making additional training more

Unemployment trends have had a mixed effect on demand

affordable for prospective students.

• Unemployment spiked in 2020 as many industries faced

pandemic-related pressures that forced them to layoff many

• The recovery from COVID-19 brought new job opportunities that

workers.

have since dropped the unemployment rate down below what it

was five years ago. Dropping unemployment as well as tight

• When unemployment rises, finding a job becomes more difficult

wallets amid brutal inflation have cut demand as consumers

and many jobless consumers look to improve their skill set and

settle into jobs and find themselves unable to afford new

marketability to employers through attending a vocational

expenses, leading to muted revenue growth in 2023.

school.

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

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