If you are interested in empowering workers to learn new skills or motivating them to achieve corporate goals, and if you have appreciable years of experience in a particular field, you should consider starting your own corporate training company. The truth is that the demand for competent corporate trainers by organizations is once again on the increase after the global economic meltdown, which saw the reduction of training budgets by most corporate organizations.
Starting your own corporate training company requires getting some level of exposure in the industry before you can successfully launch yours. Most people who set out to launch their own corporate training companies are mainly people who have worked in the Human Resources Department of an organization (Training Unit or Learning and Development Unit). But, if you are a professional public speaker who has mastered the art of public speaking, you can start your own corporate training company. The bottom line is that you must be conversant with the training needs of corporate organizations.
Starting a corporate training business is one of those businesses that an individual can start from the comfort of his or her home; the company is not capital intensive, and it is indeed a profitable venture, especially if you secure a mouth-watering training deal with a multinational or a government agency.
Now let us quickly go through some of the proven steps you can follow to successfully launch your corporate training company from scratch and then grow it to become an international brand;
Starting a Corporate Training Company – Sample Business Plan Template
1. Choose an Area of Specialization
Have you ever heard the line ‘Jack of all trades and master of none’? Well, As a trainer, you would not want to be a jack of all trades and a master of none because you won’t be taken seriously in the industry. So, if you intend to start a training company that will be in high demand, then you must choose an area of specialization. There are several areas you can narrow down your training company to; it could be customer service, soft skills, project management, technical skills, or any area of your strength. The important thing is to choose a niche that your training company will be known for.
2. Acquire Experience and Professional Certifications
Once you have been able to choose a niche that your training company will be known for, the next thing to do is to acquire relevant experience in that regard and also to acquire professional certifications. The truth is that potential clients will take you seriously if your professional profile is loaded with relevant training experience and professional certifications. No organization would want to commit their training program to a rookie; they will always prefer a trainer with good training pedigree et al. You can go online to search for all the certifications and training needed in your area of specialization and then apply to take the training, write the professional exams, and then obtain your professional certifications and license.
3. Draw up a Business Plan
You will undoubtedly need a workable business plan to start and manage your corporate training company effectively. Therefore, endeavor to sit down and draft a business plan that can pass a reality check. Your business plan should cover how to source training contracts, how to package and sell your business modules, your vision and goals, etc.
4. Register Your Business
The fact that your business involves working with or working for corporate clients makes it mandatory to legally register the business with your country's corporate affairs commission. Once you register your corporate training company, you should apply for and obtain your Tax Payer’s ID and open a corporate account for the business. It is important to note that the name you choose for your company can go a long way to create perceptions in the hearts of people, so ensure that you choose a name that depicts the type of business you are into and the quality of service you will offer.
5. Rent or Lease a Decent Office Space
Although you can run this type of business from the comfort of your home, especially if you are just starting out, renting or leasing a decent office space is nice if you have enough cash to do so. Some corporate clients feel comfortable when they know you operate your business away from your home. So, if you intend to rent an office space, ensure that the office is located in a decent environment and is easy to locate. If you don’t have enough cash to rent an office space and your house is not ideal to run this type of business, then you should share office space with someone. Talk to a realtor, and they will help you find office space that fits your budget.
6. Develop Unique and Customized Training Modules
As a corporate training company, your primary selling point is the uniqueness of your training modules. If your training is just like any other, you will have to put in more effort to market the training. So what you need to do to have a competitive advantage in the marketplace is to develop unique and customized training modules geared towards specific industries, etc. The rule of thumb is to ensure you work with your clients to create unique training modules that fit their budgets and plans.
7. Market and Promote Your Business
There are several ways you can market your corporate training company. First, you just have to define the industry that needs your training and then prepare and submit training proposals to the companies you have listed under the industry. You can also launch a corporate website to market your training programs.
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