NVI Technical College Information

Market Feasibility

Differentiation

Community colleges

• Prospective students look to improve their job prospects by

• Community colleges offer registered nursing training and other

attending a well-reputed institution.

two-year college degrees. These courses offer a cheaper

alternative to trade and technical schools, though they aren't as

• Schools need to have a solid reputation for the quality of training

in-depth and don't provide the same accolades to graduates.

provided and connections with possible employers, which may

take some time to establish.

• Many students attend community colleges to earn an associate

A

degree and then continue pursuing a bachelor's degree, granting

Labor Expenses

them a competitive edge over vocational schools.

• Wages account for a lion share of industry revenue. Labor costs

also pose a potential hurdle to new market entrants.

• Trade and technical schools face some pressure to keep prices

low amid the presence of cheaper alternatives.

• Moreover, costs associated with hiring and retaining experienced

professors can be extensive as postsecondary professors require

• Still, the industry's institutions largely occupy a different niche

a much higher paycheck than primary and secondary teachers.

than community colleges and are accordingly protected from the

most intense competition.

Substitutes

What are substitutes for industry services?

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

67