NVI Technical College Information

Market Feasibility

• Demand for beauty services declined through the COVID-19

New types of vocational schools are entering the industry

pandemic and following inflation as consumers frequent beauty

• The segment includes basic education and personal

salons less often when income is restricted, instead opting for

improvement programs,

food,

arts,

air traffic control,

cheaper alternatives that don't require beauty technicians.

broadcasting, heavy equipment repair and police training. As

new, highly specialized vocational schools have began training

Apprenticeship training is becoming more popular

students, this segment has grown as a share of revenue.

• Apprenticeship training programs include electrical, plumbing,

A

welding and metallurgical courses. In apprenticeship programs,

• Industry-relevant courses for health-related fields, such as

students train directly under a working professional who can

medical technicians, dental hygienists and nurse's aides, have

provide insight on the day-to-day experience of a given career.

thrived over the past five years as the importance of healthcare

workers has been highlighted amid the pandemic and the aging

• These programs have become more popular over the past five

of the population.

years as the job market has been tricky to navigate. While a labor

shortage has reduced their attractiveness, the direct connection

• Management training programs have also been increasing in

with potential employers makes apprenticeship programs a solid

popularity. This training provides a relatively inexpensive

route to securing a steady job.

alternative to a four-year college or associate's degree but faces

intense pressure from external competitors.

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

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