Podcast Summary
Learning new skills while earning income: Sarah Abel's training academy for apprentices allows individuals to learn new skills and earn income simultaneously, expanding her business through government funding.
Sarah Abel's successful business model involves running a training academy for apprentices, where individuals can learn new skills while continuing to work in their current jobs. This approach not only provides income but also allows for the growth of the business through government funding. However, Sarah faces challenges such as increasing social media presence, managing peaks and troughs in revenue due to government funding, and expanding her team and acquiring complementary businesses. Her ultimate goal is to achieve a 3 million turnover business with a 25% profit margin and passive income. Sarah spends a significant amount of time on social media and has even started her own podcast, "The Apprenticeship Godmother," to further promote her business.
Government-funded training academy for hair, beauty, and nail sectors: Explore starting a profitable business in the hair, beauty, and nail sectors by establishing a government-funded training academy. Train apprentices and offer various courses for additional skills, with the government providing funding. Regular inspections from organizations like Ofsted ensure regulatory compliance.
The government-funded training academy model, similar to Sarah's, could be an attractive business opportunity for entrepreneurs targeting the hair, beauty, and nail sectors. The industry, which includes education, can be profitable, with a significant portion of the income coming from the government. This business model involves finding apprentices and training them, with the government providing funding. The training academy can also offer various courses to teach additional skills. The business is regulated and must undergo regular inspections from organizations like Ofsted. If you're an entrepreneur looking to enter the hair, beauty, or nail sector, this could be a viable business opportunity. Consider exploring the possibility of starting a government-funded training academy.
Starting under a sub-brand before establishing your own: Sarah Abel started by subcontracting for lead providers, later obtained her own contract, and now aims to grow her business by subcontracting others while offering a government-funded traineeship program for young people to gain skills and work experience.
Starting a business can involve working under someone else's brand first before establishing your own. This was the case for Sarah Abel, who began by subcontracting for lead providers and later obtained her own contract in 2020. During this time, she worked under a sub-brand. Now, Sarah aims to grow her business by subcontracting others, acting as a training provider for hair salons in need of staff. She offers a traineeship program, where young people receive a 16-week course to gain initial skills before potentially being hired as apprentices. The government funds this program, allowing employers to trial potential employees and ensuring a good fit for both parties. This arrangement benefits employers by allowing them to assess potential hires, and young people by providing them with valuable work experience and skills training. The program focuses not only on hair and beauty skills but also on employability skills, such as communication and math and English, which are essential for an apprenticeship. The 16-week training period is fully funded by the government.
Managing a part-time vocational training program effectively: To run a profitable part-time vocational training program, optimize resources, recruit students within funding windows, avoid double-funding, and offer real-world experience through unique training models.
Running a part-time vocational training program, like a beauty school, requires careful planning to ensure a consistent student intake to avoid financial losses. Funding restrictions limit the recruitment window, and students cannot be double-funded. Schools, as competitors, receive more funding per student due to full-time enrollment, making it essential to optimize resources. The program's unique work-based training model, where students learn in salons, adds to the complexity but also offers valuable real-world experience. The school operates all year round, except for a short closure during the busiest period for salons, typically around Christmas. With an average of 50 students per year, the school generates around £70 per student per day, necessitating efficient use of resources for classroom space, lecturers, and follow-up marking.
Learning a trade through apprenticeships: Apprenticeships offer practical experience, salary, and increased employability in hands-on industries.
Apprenticeships in practical fields like hairdressing offer young adults an opportunity to earn a salary while learning a trade and building valuable work experience. Unlike college, apprentices work in their chosen industry for a set number of hours each week, gaining hands-on experience under the guidance of experienced professionals. Employers get to know these apprentices, increasing the likelihood of employment upon completion of the program. Apprenticeships are particularly beneficial for practical careers where on-the-job training is crucial, as they allow individuals to learn the trade while earning a low wage. Despite the advantages, some parents are hesitant to support apprenticeships over traditional academic paths. However, for practical careers, apprenticeships provide a more effective way to learn the trade, build a network, and increase employability. As employers and business owners, the speaker and her colleague have seen the value of communication skills and confidence in potential employees, making apprenticeships their preferred choice for training.
From Classroom to Salon: The Importance of Hands-On Experience: Investing in hands-on training for vocational students is crucial for their success. Real-world experience, like working with clients, builds essential skills not learned in a classroom.
Providing quality vocational training requires a significant investment in both time and resources. The speaker shared their experience of running a beauty college where they offer traineeships and apprenticeships. They noted that students coming from colleges lacked essential skills because they had only practiced on each other, rather than on real clients. The speaker highlighted the importance of hands-on experience and the cyclical nature of their program, where graduates often returned to hire their own apprentices. The college operates three days a week for traineeships and apprenticeships, with the remaining days dedicated to administrative tasks and other responsibilities. The speaker revealed that approximately 50% of their turnover goes towards labor costs, and they are currently exploring new opportunities to expand their reach by offering shorter courses for unemployed individuals through an adult education budget contract. The speaker's journey into college ownership began in 2001 when they struggled to find qualified staff for their salon and approached a local college to offer training.
Growing a Vocational Training College: Local Outreach and Influencer Marketing: Effectively market a vocational training college by reaching out locally, using influencers as brand ambassadors, and embracing digital marketing.
Effective marketing is crucial for growing a successful vocational training college. The founder of the college shared her experience of starting small with a few apprentices and growing the business through local outreach and word-of-mouth recommendations. She emphasized the importance of making the college attractive and cool for young people, suggesting the use of influencers in the hairdressing and makeup space to reach a larger audience. However, she acknowledged her initial reluctance to embrace digital marketing and encouraged businesses to get help if they're not comfortable with it. She recommended partnering with influencers as brand ambassadors, offering them a small fee and asking them to teach and promote the college on their social media channels. This approach can help reach a larger audience of young people who are learning and interested in these fields.
Boost dance school visibility with influencer marketing: Collaborate with influencers, offer bonuses, create engaging content, and showcase expertise to increase dance school enrollment.
Leveraging influencer marketing can significantly boost the visibility and student enrollment for a dance school. This can be achieved by collaborating with influencers in the dance and beauty industries, offering them a bonus and a monthly payment to become brand ambassadors. Additionally, creating a media channel showcasing the dance school's teachings and making video lessons available online for free can attract potential students and demonstrate the school's expertise to regulatory bodies like Ofsted. Utilizing confident and capable students to create content full-time can also contribute to the school's online presence and further attract prospective students. In essence, implementing influencer marketing strategies and creating engaging content can help transform a dance school from local to trendy and popular.
Learning from Business Masterclasses: Attending business masterclasses can provide valuable insights and skills for entrepreneurs looking to buy businesses or expand their ventures. Listen to James Inclair's podcast for free growth discussions and consider joining his 2-day masterclass for comprehensive learning.
Attending business masterclasses, particularly those focused on buying businesses, can significantly benefit entrepreneurs looking to expand their ventures. James Inclair, the podcast guest, emphasized the importance of having a solid foundation before diving into business acquisitions. He encouraged listeners to consider attending his 2-day business masterclass for comprehensive learning. James also offered an opportunity for listeners to join his podcast to discuss growing their businesses, free of charge. He emphasized the importance of being open and honest about business challenges to maximize growth opportunities. So, if you're an entrepreneur looking to buy businesses or expand your current venture, consider attending business masterclasses and taking advantage of opportunities like James' podcast to learn and grow.
