DevLeague Inc Hawaii’s only Coding Bootcamp!

Honolulu, HI (Honolulu County)

Seller Financing Available
DevLeague Inc Hawaii’s only Coding Bootcamp!
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Asking Price: $299,000

Cash Flow: $164,000

Gross Revenue: $762,000

EBITDA: N/A

FF&E: $7,400

Inventory: $200*

Rent: $5,654 /Month

Established: 2013

*not included in asking price.

DevLeague Inc Hawaii’s only Coding Bootcamp!

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Business Description

Located in Hawaii, DevLeague is the premier technical boot camp in the Pacific, designed to provide mentorship and training to motivated individuals seeking a career path in modern technology. We teach in-demand technical skills such as JavaScript Web Engineer and Cyber Security to help our students transition into a new career path in technology.

Detailed Information

Location:
Honolulu, HI
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
600
Lease Expiration:
N/A
Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Co-workspace, month to month lease. Renewable six-month lease. There is access to a 600 sq foot private classroom and unlimited co-workspace in the main area we use for overlapping classes.
Competition:
Pros -A good alternative to traditional college, where tuition has more than doubled in the past 10 years https://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-room-board-over-time and cheaper than in-state college tuition in Hawaii http://www.collegecalc.org/lists/hawaii/most-expensive-in-state-tuition/ -The coding bootcamp industry is continuing to grow, estimated 49% growth in 2019 (estimated 23k graduates in 2019 vs 15k in 2018) -Since 2013, coding bootcamps have grown 11x with more room to grow -Javascript continues to be the most common teaching language, used in 44% of Web Development courses -Nationally ranked top 50 schools in 2019 (#47) https://www.switchup.org/rankings/best-coding-bootcamps -5-star reviews on https://www.switchup.org/bootcamps/dev-league and https://www.coursereport.com/schools/devleague#/about -Smaller class size benefits students with hands-on training and access to instructors and advisors (1:7 teacher student ratio) -Veteran’s Administration GI Bill benefits approved -Approved Eligible Training Provider to US Dept of Labor American Apprenticeship Initiative, Hawaii State and Honolulu City workforce development grant programs that subsidize student tuition to attend DevLeague and assist with post-graduate employer programs -Lack of local competition - students must fly to the continential US for nearest coding bootcamp -Cost-effective for local market students. The average tuition is $13,584 for US continental coding bootcamps and doesn’t include travel, accommodations and food and transportation. University of Hawaii in-state tuition is $11,970 plus additional for books and living costs https://www.collegetuitioncompare.com/edu/141574/university-of-hawaii-at-manoa/tuition/#graph-block -Leadership role in local hackathons including Global Game Jam, AT&T Hackathon, Hawaii Annual Coding Challenge -Since 2014 to present, DevLeague awarded over $130,000 in scholarship funds students who applied for the DevLeague Elevate Fund and DevLeague Diversity Fund. Cons -Lack of local tech sector - hiring for tech jobs not ubiquitous as other tech markets like San Francisco, Seattle, New York -Default is to attend local university computer science programs focused on theory and less on practical and applied knowledge -Distance for non-Hawaii applicants too far to travel -Increase in number of coding bootcamps, especially weaker schools resulting in negative student outcomes and a perceived negative reputation in the marketplace for bootcamp graduates -Not enough financial options (i.e. tuition loans) from the traditional banking institutions, students must rely on third-party financing with higher interest rates
Growth & Expansion:
Pros -Veteran market is trending upward now that veterans have found success through our past courses. -Strong enrollment continuous in the 4-week Prep courses that effectively are lead generation to the longer 30 and 33-week DevLeague cohorts. -Partner with local universities to offer transfer credits and degree credentials -Curated list of an active 2,000-person mailing list in the HubSpot CRM enables personalized access to potential, existing customers and alumni. -Active social media and online marketing on Facebook, Instagram, Twitter and LinkedIn -Downturn in economy typically benefits enrollment as students and workers seek to learn new skill training. Cons -Currently in-person classroom. The opportunity to start an online course and/or hybrid course that mixes both in-person and live-distance learning program would benefit neighbor island, mainland and international enrollment. -Recommendation is to hire a dedicated salesperson and sales operation person to ramp up outbound sales efforts. -Downturn in economy - may impact hiring in the tech sector and interest in learning new tech skills -Low barrier to entry - New competitors can easily enter local market (none have in six years) -The ever changing boot camp landscape - must be flexible and adapt to the constantly changing bootcamp industry (i.e. new technologies, curriculum, duration, etc.)
Financing:
Negotiable with mutually agreeable terms.
Support & Training:
30-days of transitional support and training that is properly detailed and managed. Can be in-person and via video conference call.
Reason for Selling:
The two co-founders wish to move on with new projects.
Business Website:
http://devleague.com
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(from currently available funds)
 
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Jim Mayfield

Business Listed By:
Jim Mayfield

Island Business & Commercial Brokerage

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business.

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