Setting up an RTO Melbourne isn’t a simple process and comes with a lot of risks, hard work, and costs. Whether you want to do it alone or work with a consultant to help you with the process, there are a lot of things you need to consider before making the right decision. Read this article as we explain the registration process and provide you with tips that will assist you in making the right decisions as far as your RTO is concerned.
The registration process
There are some general steps you need to follow during the registration process. First, you need to prepare the relevant documents for your submission. Secondly, you should lodge your submission and pay the lodgment fee. After paying, the ASQA will do an initial completeness check. This is meant to ensure that you have provided the relevant documentation.
ASQA will then give you an assessment fee invoice which you will have to pay. ASQA will then start the assessment process. According to ASQA, one in two applications fail. If your application is successful, it will be granted a two-year initial registration. There are some restrictions placed on your registration during this period.
Preparing your documents
It is important to start the preparation process with your strategy. You should bear in mind how you want to operate your business for the short term and how you wish to grow it into the future. This will be a deciding factor in the decision of the ASQA to approve your registration. Work with your RTO consultant to come up with a business strategy.
The cost of registration
When it comes to the true cost, you should consider the time cost and the costs. There is no denying that the application process will take a lot of time and you need to consider what other income-generating activities are that the process takes you away from. You should find a balance and manage your expectations with respect to the progression of your application.
Your business plan
Your business strategy document initiates the conversation with ASQA about becoming an RTO. It justifies why you need to be an RTO and shows how you will maintain yourself. It also identifies your market, and your service offerings and explains your operational structure. If you do not have a sound operational plan and strategy, there is no point in starting work on training policies, resources and procedures.
Your financial viability
You need the input of a professional accountant to help you prepare and sign off your financial viability risk assessment. Often, organizations go to their accountant to complete this document and more often than not, accountants do not complete the spreadsheet correctly.
Website and branding
After setting up an RTO Melbourne, it is essential to consider the cost and time of creating your web presence and branding. A good website that demonstrates compliance with the industry standards is critical along with other associated marketing materials such as course brochures. Consider the cost of branding including logo design, palette, and business cards.
