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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Quick takeaways
- Hector Resendez leveraged virtual reality to revolutionize online trade education, making it more accessible for blue-collar workers through innovative technology.
- The online trade school successfully utilizes federal WIOA grants to provide vocational training with high profit margins and minimal fees for students.
Deep dives
Innovative Online Trade School Model
An online trade school model is described, offering courses in fields such as HVAC, plumbing, and electrical work. This approach challenges traditional notions that trades education must occur in person, especially with the pandemic's impact leading to a shift toward digital learning. The unique selling proposition hinges on the ability for students to learn theoretical knowledge online, even if they need to complete practical assessments in person. By leveraging virtual reality technologies, the school enhances the learning experience, catering to different learning styles while keeping costs low.
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