Costs & ROI
Save thousands on your training budget. Read on...
Learnbubble aims to provide you with affordable training software to meet your specific needs at a price that suits you.It does this by offering a pricing model that does not rely on training large numbers of people to be cost effective.
To create and deliver your online training software there will be a few upfront costs. Likely costs are :
- Set up of your own customised Learnbubble environment- £450-£1500
- Create courses – This can be a joint effort with the customer providing the content and us loading it in for you. Costs will vary considerably.
- Deliver courses - Pay via a voucher system.There is no charge for using the administration/tutor features, or for building the courses. A charge is only incurred when someone takes a course. No students - no charge. This makes Learnbubble a viable option for organisations of all sizes.
- Licence fees - None. The only ongoing cost to offer the courses is the voucher cost.
Return On Investment
Example Case Study
Initial investment can be recouped very quickly due to the ‘Pay as you go’ nature of Learnbubble pricing. Here is an example of how it might work comparing traditional ‘classroom’ style training with online learning.
Assumptions used in example
Each year 24 employees require Health and Safety training which has historically been delivered as 2 training days in the classroom.
With traditional methods this has meant each employee taking a whole day away from work to attend a course running from
9.30-12.30 and 13.30-16.30 (Six hours in total).
Each employee earns £25,000 per annum and costs the company around £150 per day.
*The cost of designing and building the course content has NOT been included in this comparison because there are so many variables for both traditional and online versions. It can be assumed that design costs will be similar for each approach. That the online course cost build might be higher but once built can be delivered thousands of times without attracting any additional costs other than the voucher
Off site training costs per course delivery
The conference room is 30 miles away. An external trainer is commissioned to deliver the training.
|Conference Room Hire||£250|
|External Trainer course delivery fee||£750*|
|Attendees' Travelling costs||£384|
|Attendees' Meals x 12||£120|
|Time out of work (12 x 150)||£1,800|
|Total cost- 12 'students'||£3,304|
|Training cost for 24 on two courses||£6,608|
|Cost of training 24 people on 1 day courses each year over 3 years||£6,608 x 3 = £19,824|
Training costs using Learnbubble Solution
Online learning is about 50% more time efficient than classroom learning because time is not being lost due to breaks, introductions, and diversions to accommodate others in the group. Also the learner can go at their own speed and will tend to do the learning in several short but intensive sessions - ideally around 40 minutes, (= to 1 hour in class) when they are fully alert.
Costs below assume each person does 6 online training sessions of 40 minutes duration to cover all the course material.
|Initial Set-up(once off cost)||£1,000|
|Voucher cost for 24 at £25||£600|
|Time spent training(4hrsx24)@ £14.88||£59.52 x 24 = £1,428.48|
|Training cost for 24 using a Learnbubble course||£3,028.48|
|Cost of training 24 people using Learnbubble for 3 years||£11,885.44|
Using online learning gives you a total saving of: £7,938.56, based on just 24 learners
This is 40% less than the price you will pay to learn in a traditional manner.
The more learners using courses within Learnbubble, the higher the savings that can be made when compared to traditional learning