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Things you need to consider for your RTO during times of economic uncertainty…

With the World Health Organisation now pronouncing the Coronavirus officially a pandemic, the ripple effect for the economy is at the forefront of most business owners’ minds.

The impact on international education sector is yet to be fully revealed, but the team at SpaceFinder are firm believers that where there is adversity, opportunity exists.

”The Chinese use two brush strokes to write the word “crisis”. One brush stroke stands for danger, the other for opportunity. In a crisis, be aware of the danger –but recognize the opportunity”
 John F Kennedy

Opportunity #1:  Be flexible

The ‘big guys’ in commercial real estate are taking a nimble approach to securing lengthy commercial leases and are opting for space sharing options to provide their businesses with maximum flexibility. 

We are accessing more and more venues that have had commercial leases lined up, but have collapsed in recent weeks.  This provides an excellent opportunity for space sharing, with our clients opting for smaller floor plates and flexibility over lengthy leases in this climate.

Is your business in an agile position?  What can you do to mitigate risk and increase your future opportunities?

Opportunity #2: Expansion

With international education in a holding pattern, experts are only too aware of the boom in this sector on the other side of this dip. 

When you couple the impact on the economy and ASQA’s ground-breaking declaration of offering some leniency to RTO’s; those ‘in-the-know’ are taking this opportunity to increase courses on scope, submit a new RTO application or add CRICOS / ELICOS to their organisation.

We have been inundated with enquiries about our ‘Venue Compliance Packages’ (perfect for the ASQA application process) and RTO Consultants are experiencing a similar surge. 

Ask yourself, what can your business do to take advantage of the opportunities for future growth?

Opportunity #3: Additional revenue streams

With space-sharing becoming an evermore socially acceptable, or even a socially responsible way to conduct business, we are finding that increasing numbers of larger RTO’s have space availability and are benefiting their businesses with the additional revenue stream.

Did you know some venues receive in excess of $15,000 for their under-utilised training rooms? 

Does your business have vacant training space that could be generating additional revenue? 

Opportunity #4: Overflow

All indications point towards a boom in the international space post-virus and many larger RTO’s are securing overflow space now on holding fees to accommodate this.

With February’s intake on hold and July’s intake looming, the sharp-thinkers are converging on 9b compliant overflow space to enable them to deliver all training and mitigate any business losses. 

Will your organisation need overflow space in 3, 6 or 12 months’ time? 

Opportunity #5: Exercise caution but Invest in the future

History shows that the bull market follows the bear market, and now is the time to be thinking about investing in the future.  

We are already seeing signs of businesses positioning themselves for growth and we are taking our cues from some of the bigger players in our industry, as they snap up deals and brace for success.

Consider where you need to focus your investment, to sail out of the storm at full speed.

As ‘Your success is our goal’, the team at SpaceFinder care about your business and are always passionate about helping RTO’s avoid making costly real estate mistakes.

Can SpaceFinder assist your business with any of the following:

  • I have surplus 9b space and am interested in receiving revenue and helping out other RTO’s
  • I was about to commit to a commercial lease, but feel shared space may be a better choice for my business
  • I am interested in putting in an ASQA application to position my business for future success and need a 9b compliant venue
  • My RTO will need overflow space…help!

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“Your success is our goal”

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