Training Unit Overhaul Increases Gross Profit over 700% - Rand Worldwide

Rand training services instructed mechanical engineers on how to use the MCAD software
purchased by their organization. Revenue generated from these services was viewed as
incremental to the product sale, so Rand contacted Impart to increase the revenue generated from their training services business.


Challenge:
Given the existing training service practices, Impart was asked to develop and implement a business unit strategy to increase revenues and market share from training.

Solution:
Impart began by analyzing the Educational Services business unit, collecting data from the marketplace, and identifying the services and offering of the competition. We then investigated and implemented non-conventional ideas from psychological studies such as retention over time, learning styles, adult learning theory, etc. This research helped us develop educational pathways or sets of courses required by specific types of mechanical engineers and execute business plan to increase the unit’s profitability. To this end, we created curriculum, manuals, marketing programs, packaging, acquired computer resources, and coached personnel to sell and coordinate educational services.


Results:

Increased gross profit generated for the Educational Services business from $3 million to $25 million.