The common buzz word is drop in Revenue due to decrease in number of students. As an RTO Consultants, I have seen few very effective strategies adopted by various RTO having CRICOS License in place.
Strategy number 1:
Exit Strategy:
Its normally call un-related diversification. As we all know, now a days, it has become very hard to register a new RTO. Most RTO Consultants are intelligently helping re registration of RTO by offering custom based approach. My suggestion is to sell your RTO if you have recently achieved a re-registration after adding few local courses which has a unique demand in Australia. The price will help you to diversify your business into some other type of business.
Strategy number 2:
Cost Leadership:
As number of students are limited, therefore I am hearing a lot of RTO are offering discounted prices of their courses to attract students.
This strategy will you in at least meeting all ongoing cost of your RTO.
Strategy number 3:
Focus:
Here RTO need to capitalize on their unique advantage coming due to exclusively availability of a course which is very hard to find in market. For Example, Mostly trade related courses focusing on construction industry are in good demand right now.
In summary, my advice as an RTO Consultant, you need to select a strategy first before deciding what you are willing to do.
Waiting a seeing market behaviour may bring more losses. Best to focus internally and act now.
Add Comment