Hands-On trade skills training shop

Career changers, young adults entering a trade, hobbyists, and local contractors who send new hires for entry-level training.

Course fees per student, from weekend workshops to multi-week evening programs. Extra income can come from private group sessions for local employers.

• Years of hands-on experience in the trade you teach
• Clear teaching and patience with beginners
• Safety awareness and keeping a class organized

• Many states regulate vocational schools and may require authorization or a bond, so check with your state education or licensing agency before advertising courses
• Accreditation is needed for students to use federal financial aid, and it is a long process, so most small schools start without it
• Avoid promising jobs or licenses unless you can back it up, since states may restrict this kind of marketing
• General liability insurance and possibly workers' compensation, because students handle tools and equipment
• Zoning, fire code and ventilation rules for your unit, especially for welding or woodworking, so check with your city or county
• Equipment and consumables (metal, wood, wire) can add up, so budget for them

Startup costs are typically around $15,000 to $60,000, depending on the unit you rent, the equipment you need and the consumables such as metal, wood and wire. Treat this as an estimate and budget for materials as well.

Monthly revenue is typically around $3,000 to $15,000, depending on how many courses you run, class sizes and the fees you charge. Treat it as an estimate and test demand with a small first course.

Check with your state education or licensing agency about vocational school authorization or a bond. Also check accreditation limits, marketing claims about jobs or licenses, insurance, and zoning, fire code and ventilation rules for your unit.