Small specialist training college (RTO)

Students paying their own fees, employers training staff, and in some cases government-funded places if you qualify under your state's scheme.

Course fees per student, paid upfront or in instalments. Employer group bookings and, if approved, state-funded places add further income.

• Industry experience and current trainer qualifications
• Compliance and record keeping
• Managing trainers, students and a budget

• Registration with the national regulator (ASQA, or your state regulator in some cases) is required before you can issue nationally recognised qualifications
• Ongoing compliance with the Standards for RTOs, including audits, record keeping and trainer qualification requirements
• Financial viability and fee protection requirements, so check what applies to you
• Your trainers must usually hold the right training qualifications and current industry skills, so check the requirements for your course
• Public liability and professional indemnity insurance, plus workers compensation once you employ staff
• Check student protections and the rules about advertising and enrolment, including consumer law

Startup costs are typically around $20,000 to $90,000 as an estimate, depending on your premises, systems, trainers and the qualification you deliver. Get quotes and check the requirements for your chosen course before committing.

Monthly revenue is typically around $5,000 to $25,000 as an estimate, depending on student numbers, course fees and whether government-funded places apply to you. Figures vary widely, so treat them as a rough guide.

Check that registration with ASQA, or in some cases your state regulator, is required before you issue nationally recognised qualifications. Also check ongoing compliance with the Standards for RTOs, including audits and records, financial viability, fee protection and trainer qualification requirements.