Welcome to our SIXTH post in the series on Business Coaching Franchise myths. You can read the first five HERE HERE HERE HERE, and HERE.
I certainly hope you’ve found the information and assignments we’ve provided valuable as you perform due diligence on the business coaching franchises you’re considering. We’ve enjoyed being a part of your journey!
By way of review, during our last virtual coaching session about business coaching franchise opportunities, I suggested that ask your franchise sales rep the 7 questions that can be found in your Business Coaching Franchise Buyer’s Due Diligence Checklist, check box #12. This checklist is a companion resource to our Business Coaching Franchise Buyers Guide.
Today, we’ll tackle the sixth and final business coaching franchise myth from franchise law attorney Robert Purvin…and it’s a doozie.
Business Coaching Franchise Myth #6
Franchises Creates a Critical Mass of Market Penetration.
Often, business coaching franchise franchisors will claim that by purchasing a business coaching franchise, you’re “joining a movement,” that contributes to massive market penetration. And as that market grows, your franchise will benefit from a broad customer base and economies of scale in advertising.
Unfortunately, in most cases a business coaching franchise simply doesn’t possess the necessary units to make such a claim reality. In fact, recent shifts in the marketplace have actually resulted in a widespread downturn in the performance of business coaching franchisees. The consequences of these shifts mean that market penetration for most business coaching franchise brands is actually SHRINKING, instead of growing!
This situation is unfortunate because the overall demand for business coaching continues to rise. But for the reasons discussed in our Business Coaching Franchise Buyers Guide, franchising has proven itself to be a poor and unreliable model for entering the business coaching industry.
Before you invest, we recommend the following critical steps in your due diligence process…
Business Coaching Franchise Due Diligence
As one of the final actions in your due diligence process, take a serious look at an alternative approach to jumping into the business coaching industry — one that does NOT require 6+ figures in upfront investment, or tie you down to massive monthly payments.
I want to invite you to enroll in a FREE 30 Day Trial of the Coaches’ Coach members only site. It’s our complete business coaching system, including customizable marketing campaigns, sales scripts, client training materials, business optimization modules, and more. Now, you can get a FREE 30-day trial. If at the end of your trial, you’re not completely convinced that become a member can take you from where you are now to where you want to be, you’re free to cancel without paying a dime. One of our clients recently closed $1,500 in recurring monthly revenue after just 3 days with our system…think what that could mean for YOUR business!
One more thing… Here’s an incredible email I received recently from a business coaching franchisee:
“When I joined Coaches’ Coach I had just spent over a year being beaten up by my business coaching franchisor who was supposed to be helping me be successful. I hired a Coaches’ Coach at one of the lowest points in my professional life. But my coach was patient and persistent — and I went from ready-to-give-up to running a six-figure coaching practice in just 6 months. Now, I’m far exceeding that annual figure. If you are a coach who wants to grow, join Coaches’ Coach!”
I look forward to seeing you on the inside!
To your success,
Eric Dombach
P.S. As an alternative to buying a business coaching franchise, consider enrolling in a FREE 30 Day Trial of the Coaches’ Coach members only site! It’s our complete business coaching system, including customizable marketing campaigns, sales scripts, client training materials, business optimization modules, and more. Now, you can get a FREE 30-day trial. One of our clients recently closed $1,500 in recurring monthly revenue after just 3 days with our system…think what that could mean for YOUR business!
