If you’d like to enjoy a rewarding career helping small businesses across the UK to strive, grow and succeed, then look no further than a business coaching franchise. The sector is dynamic and profitable, allowing you to meet and help new people on a regular basis, and if you’d like to get involved, here’s exactly what it takes.
Business coaching is a B2B (business to business) service, and a way of entering the world of franchising and business ownership that is both a sensible, sound investment and an exciting one.
In this article, you’ll gain an understanding of the day-to-day work life of a business coach, the advantages and challenges of this kind of work, and the viable options out there waiting for you. Running a business coaching franchise could be right up your street, and there’s only one way to find out...
A day in the life running a business coaching franchise
As a business coach, you’ll do all of the following tasks on a daily (or at least regular) basis:
- Handling client communications/queries - You’ll need to respond to emails and messages, host messages and make calls, staying in touch with all your clients and responding to enquiries that could become clients.
- Networking - Though most franchise networks will support you at least partially with client sourcing, you’ll still be responsible for networking to expand your client base and maintain a solid reputation for your franchise.
- Coaching clients - This is the most important part of the job, and the main part of it. You’ll need to teach, encourage and inspire your clients to help them achieve their goals and elevate their businesses and skills.
- Self-assessment and planning - You should be regularly assessing and evaluating your coaching methods and working practices to determine what works for you and what doesn’t, while planning coaching sessions in detail ahead of time.
Business coaching is proven to work when these two factors are present: the client is willing to grow, and there is a gap between where they are now, and where they want to be. That is all that is necessary for you and your business coach to solve problems, create a new life [ and] turn a business around.
– Sohail Khan, Entrepreneur
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Advantages of franchising in the business coaching sector
Working in this growing B2B sector provides reward and dynamism, and the many advantages of investing with a business coaching franchise include:
- Flexible working options
- Rewarding and fulfilling day-to-day work
- High client retention rates
- A proven, successful business model to follow all the way to profit
- Plenty of readily available franchisor training and support
- Minimal running costs/overheads compared to other franchise business models
Challenges of starting a business coaching business
Making a career change with a business coaching franchise and pivoting your professional life will be exciting in many ways, but in other ways, it will be challenging. You’ll have to put in the hard work and effort in order to succeed in the face of challenges like the following:
- Building client trust takes time
- Some clients are impatient, or unwilling/unable to grow
- You’ll be giving a lot of your time to the work, especially in the early days
- You won’t be able to earn income passively
- The learning curve can be steep for those who enter the sector with no previous coaching experience (though not impossible to climb)
Become a franchisee in the business coaching industry
If business coaching feels like the right choice for you, you’ll be happy to discover that there are plenty of franchise opportunities available to you in the sector that cover a wide range of bases and investment levels. Here are just a couple of your best options...
ActionCOACH is a coaching franchise with over 200 franchisees, on a mission to support business growth and make a difference to the lives of its clients. The franchise has consistently appeared in the Elite Franchise UK Top 10, and has a 5-star franchisee satisfaction rating.
- Becoming an ActionCOACH franchisee: The ideal ActionCOACH franchisee would have a track record of success in whatever field they’re coming from. They would also need a demonstrable love of learning, and a real desire to help others succeed.
- How much you need to invest: You’ll need to make a minimum initial investment of £69,000, with a total investment cost of £90,000. You’ll also be charged £1,500 in royalty fees.
- What you get for your investment: As a franchisee, you’ll attend a 10-day ActionCOACH University programme, followed by a Step-Up Week to help you launch your business. You’ll also have access to plenty of ongoing development opportunities, as well as to the resources and proven systems of the business.
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2. The Alternative Board
The Alternative Board is the world’s largest peer-to-peer support and business coaching franchise, with over 30 years of experience and a network of over 300 franchisees. The Alternative Board aims to help small businesses grow and improve.
- Becoming a franchisee with The Alternative Board: To join The Alternative Board family, you’ll need to be a great communicator with a passion for learning, and a business leader with a can-do attitude and the desire to make a difference.
- How much you need to invest: You’ll need to make a minimum initial investment of £20,000, with franchise fees of £40,000 and a total investment cost of £64,500.
- What you get for your investment: As a franchisee, you’ll receive initial on-site training, a campaign manager, in-territory member recruitment support and quarterly advanced training. You’ll also be invited to monthly peer board meetings and annual conferences.
Start a business coaching franchise today and enjoy running your own business with plenty of franchisor support
At this point, you should have a clear idea of what a business coach does, what challenges they must overcome, and most of all, whether or not you’d be a good fit for this exciting industry. If you feel you would be, it’s time to find your ideal investment. Browse available business coaching franchise opportunities on Point Franchise.
Lily Sweeney, Point Franchise ©