Do you have a knack for business? Do you want to help others succeed in their own business endeavors? Then you may want to consider business coaching franchise opportunities.
Anyone can set him or herself up as a business coach — there are no licenses or certifications required. That means that business coaching is an industry that runs on trust. Choosing a franchise coaching business rather than just hanging out your shingle can give you a serious advantage: the trusted name of an established company.
Franchise business coaching can include seminars, group training in a classroom setting, or one on one coaching.
Three Approaches to Owning a Franchise Coaching Business
There are three main approaches to business coaching in the franchise industry. Choosing the right option for your future coaching business depends on your own goals as a franchisee, what skills you already have in business coaching, and how much guidance and professional development you want a franchisor to provide.
The most traditional options use a fully-integrated franchise system that provides all the training, materials, direction, and business plans you need to start and run your coaching business. Crestcom, for example, has a turnkey 12-month program named Bullet Proof Manager training as the primary product for franchisees, which allows for an easy startup without development of your own program. Franchisees are also guided through significant training to help them learn how to become business coaches. If you’re not an expert, this approach is more likely to lead to success.
If you’re looking to develop your own business coaching process but you’d still like to have the support of a franchisor, FocalPoint might be a better option for you. FocalPoint coaches own their own independent business coaching businesses. There are coaching materials and methodology, but FocalPoint is designed for seasoned executives who are ready to share their wisdom. Because of this, FocalPoint franchisees have more flexibility, though they still get plenty of support. They have materials prepared by experts, and get the advantage of association with a recognized expert, but also have the opportunity to rely on their own expertise.
FocalPoint looks for people who have succeeded in the corporate world, but who are ready to spend more time with their families or to have more autonomy in their work. “We don’t sell franchises,” they say, “we award them.” Those who want this opportunity have to show past experience in sales and management.
But there’s a middle ground too. AdviCoach is similar to FocalPoint in that franchisees run their own coaching businesses but it provides a prepared plan like Crestcom coaching. AdviCoach helps get business coaches started with a program they’ve developed while still allowing their franchisees freedom of choice to pursue other routes of coaching.
Determining which style of business coaching franchise is right for you depends on your experience as a business coach and your comfort level with going it alone. It also depends on your own personal goals for your coaching business.