How to Become a Business Coach

Becoming a business coach equals making it your professional mission to support and assist other businesses, enabling them to thrive, succeed and get the best out of their resources/employees/time. It’s a hugely rewarding career in a uniquely profitable sector currently rising in popularity, and there’s never been a better time to start a coaching franchise. If you think you might be interested, keep reading. Find out more.

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In 2019, the estimated global revenue from coaching was $2.8 billion [International Coaching Federation]. This figure is on the rise as more and more companies see the value in investing in coaching services in order to improve and elevate their businesses. If you’d love to make a career change with a business coaching franchise, there’s never been a better time to get involved.

What does a business coach do?

There’s so much scope for specialism within the business coaching world, and no two franchise investments will be exactly the same or leave you with exactly the same role. In certain roles, you’ll be mobile, travelling to locations within your area to coach. In others, you’ll be more managerial, managing a team of coaches out of a central office. That said, there are certain things you can expect to be doing regardless during a regular day in the life as a business coach, such as:

• Communicating, sharing and negotiating with current clients
• Attracting new clients/marketing your franchise
• Coaching and consulting
• Planning coaching sessions/programmes/plans
• Staying up-to-date on the newest coaching industry trends and developments
• Managing your business/employees/finances

How to become a business coach and start running your own business

If the aforementioned tasks appeal, and you’re feeling readier than ever to start your own business coaching franchise, take the time to ensure you’ve done your research. Check that you’re fully prepared to invest and make a legal commitment by asking and answering the following questions fully and completely…

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>> Read more:

• Small Business Coaching – How to Become One
• 5 Advantages of Running a Business Coaching Franchise
• How to Make a Career Change With a Business Coaching Franchise
• 4 Tips for Running a Business Coaching Franchise
• How to Start Your Own Business Coaching Franchise
• A Day in the Life: What It Takes to Run Your Own Business Coaching Franchise

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1. What skills/training does a business coach need?

In some cases, you’ll find that you don’t need any training to thrive in the business coaching sector. After your investment, you’ll be fully trained by your franchisor on every aspect of the business, including the actual coaching element. In other cases, you’ll need some managerial or professional experience before you’re able to invest. Either way, however, you’ll need certain transferable soft skills to set yourself up for success in this kind of role. Skills like:

• Communication
• Confidence
• Honesty and openness
• Active listening
• Patience
• Organisation
• The ability to set (and meet) goals
• Empathy
• Customer service
• Business acumen

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>> Read more:

• Ready for a Career Change? Check Out These Five Top Franchise Opportunities in the UK
• Career Change: Start a Fresh Career with a Franchise
• Fed Up With the 9-to-5 Perhaps Starting a Franchise Business Is Your Best Next Career Move

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2. What is the current state of the business coaching sector?

This is important at any moment, but particularly relevant given the context of COVID-19. Before you commit to a franchise investment, you need to know that the sector is ready for your investment and able to allow you to build a profitable business in its current condition. Luckily, in the case of the coaching sector, 2021 has been a year of bouncing back and growing demand is one of many advantages of starting a business coaching franchise.

You only have to look at the ICF global study figures to see that increased need is influencing every coaching sector. The estimated global total revenue from coaching in 2019 was $2.849 billion U.S. dollars, representing a 21% increase over the 2015 estimate. - The Coaching Academy

3. What type of coaching franchise investment would best suit me?

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The final question, which should be answerable on multiple different levels, is all about you. What are you looking to spend your days doing, and which opportunities best match up with this? What’s your financial situation, and which opportunities best match up with this? There’s so much to think about, but think about it you must (if you don’t want to end up making an investment you later regret).

When you do think you’ve found an ideal franchise fit, be sure that you do your due diligence and fully assess the opportunity. Know that you’re getting what you think you’re getting and don’t invest your money with a company that’s failed to answer all your questions/failed to fully disclose its financial situation.

Business coaching franchise opportunities

1. Chrysalis Partners

Chrysalis Partners is the fastest growing coaching and consulting franchise in the UK, and it’s on the lookout for like-minded, entrepreneurial franchisees to join the network.

• Becoming a Chrysalis Partners franchisee: You should have a managerial background and experience with finance, operations, sales or marketing. You should also be confident, professional and ambitious, with a passion for helping SMEs grow.
• How much you need to invest: You’ll need to make a minimum initial investment of £19,950, with franchise fees of £39,950.
• What you get for your investment: You’ll be fully trained initially, and this will then be followed up with ongoing franchisor support, access to a free website and help getting your franchise marketing set up and off the ground.

2. Go M.A.D. Thinking

Go M.A.D. Thinking was founded in 1997 by Andy Gilbert, and the franchise’s signature Thinking System has helped hundreds of organisations in over 40 countries across the world.

• Becoming a Go M.A.D. Thinking franchisee: You should be an experienced senior executive with a results-focused, driven approach. You should also be communicative, motivated by helping people and easy to work with.
• How much you need to invest: You’ll need to make a minimum initial investment of £21,000, with a monthly royalty fee charged at 20% and monthly operating and advertising fees of £900 each.
• What you get for your investment: You’ll receive four weeks of world-class training, along with access to online learning libraries, one-to-one coaching, drop-in sessions and quarterly workshop sessions.

3. SalesEnabla

SalesEnabla is a thriving consultancy firm with over 30 years of experience. The franchise proudly offers franchisees a profitable investment opportunity and a great work/life balance.

• Becoming a SalesEnabla franchisee: You don’t need prior experience, but you should enjoy sales, problem solving and helping businesses to achieve success. You should also be committed, enthusiastic, ambitious and confident.
• How much you need to invest: You’ll need to make a minimum initial investment of £14,995, with a total investment of £19,995, a monthly royalty fee charged at 10% and a monthly operating fee charged at £250.
• What you get for your investment: You’ll be fully trained and onboarded. You’ll then gain access to SalesEnabla frameworks, platforms and qualified sales leads. You’ll also receive marketing support, administrative support and extensive mentoring.

Start running a franchise in the rapidly growing world of business coaching

If you now have a strong understanding of how to become a business coach and you’re about ready to make your investment, it’s time to browse the full and wide range of business coaching franchise investment opportunities available to you. For advice about what comes after your investment, check out Point Franchise’s four tips for running a business coaching franchise.