Nikonomics - The Economics of Small Business 85 - TOP PICK! How to Build an 80% Margin, $3M Online Trade School on 2 Hours/Day, with Hector Resendez
Nov 18, 2024
Hector Resendez, the founder of an online trade school leveraging VR technology, discusses his innovative approach to vocational education. He reveals how his school provides immersive training in trades like HVAC and plumbing, using federal grants to finance student education. Hector shares insights on scaling his business to over $200,000 monthly with high profit margins and tackles the impact of WIOA grants on funding opportunities. He emphasizes the importance of aligning courses with job market demands to effectively address the skills gap in the trades.
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Online Trade Schools Emerge
- Trade schools are going online, offering virtual learning experiences.
- Online trade schools focus on the theory needed to pass certification exams, supplementing on-the-job practical training.
Discovering the WIOA Grant
- Hector Resendez learned about the WIOA grant through a former employee who used it for a CDL school.
- Inspired, Hector saw the potential to scale the model by taking it online.
WIOA Grant's Purpose
- The WIOA grant incentivizes vocational training by funding education for eligible individuals.
- This helps people gain skills, enter the workforce, and transition off government benefits.