Invest in the Employee Training Segment for a Fruitful Entrepreneurial Career
The demand for specialised employee training is getting enormous, which is why starting or setting up an employee training business could be a terrific idea. You, as an entrepreneur, could start the services directly from home by renting a commercial location for the offerings, or head towards the franchising model for getting a head start in the industry.
It is recommended for one to keep a good eye on the ‘specialisation’ factor as it’s eventually the key to success in this business. Furthermore, an enhanced focus on different training styles or methods that you mastered or can quickly master could thrive your employee training business into one renowned firm in the industry.
Brands like INIFD Gurukul and Twin Win are already locking their focus on new-age employees in modern India. These brands are offering quality and beneficial education, training, and knowledge that could turn out to be fruitful for employees in their respective fields and workplaces. Some of the common training courses, which are available at these firms, include customer service, money handling, working without direction, coping with stress, and securing workplace environment.
The idea of traditional training along with e-learning is getting more effective and popular with every passing day, which makes it the best time to enter this business. Here is a list of pointers that an entrepreneur could consider for running their training business successfully.
Knowing your Audience is the Key
Having detailed information about your target audience is a must before initiating your training business. But the question is: how to decide which customers can be your target audience? Market research is the most common answer to this question which most of the entrepreneurs adopt while initiating with their entrepreneurial journey.
One of the best ways is to hire a research company who can assess the viability of the training business you are considering. Another affordable option is to talk to people or run an informal survey among a large group of people. These researches will answer you several questions like – Who are they? What do they need to learn? What do they want to learn? Etc.
Right Technology and Tools
Any business’ offering is almost incomplete without the usage of the right technology and tools in today’s era. Especially, when you are offering training services online, it becomes mandatory to utilise the power of technology as e-learning is 50 per cent content and 50 per cent delivery. Delivery here means speed, ease of use, intuitiveness, features, and more, all of which are technology.
The modern-day technology, high-speed internet, and the emergence of full-featured LMS platforms like TalentLMS have allowed a small, two-person company to compete with a big establishment training provider. Moreover, technology directly affects the scalability options of a business that eventually decides how big your training business can get in the future.
One of the hardest parts of starting your training business is marketing it properly in today’s increasingly competitive industry. You, as an entrepreneur, need to understand the fact that your training business will be nothing unless and until it’s well marketed, which will in turn bring in customers, who will sign up with your employee training firm.
Have a look at your budget and then decide what sort of marketing could meet your expectation. Newspaper, magazine, brochures, social media, and others are some of the marketing options that are available in modern time. No matter what mode of marketing you opt for, it is recommended that you advertise your brand at that location which has a great footfall of employees on a daily basis.
Malls, metro stations, and locations near corporate industries could well be the best place for advertising your employee training business.
Take the Franchising Route
Most of the entrepreneurs now love the concept of franchising, which has proven itself worthy and fruitful since the last few years. Franchisees are believed to enjoy quick success in terms of recognition and revenue generation if the instructions from the franchisors are religiously followed.
The franchise of INIFD Gurukul is available at an investment around INR 5-20 lakhs with an area requirement of minimum 500-1000 sq. ft. Twin Win is another training firm whose franchise is available at a cost of around INR 10-25 lakhs along with an area requirement of minimum 300-1000 sq. ft.