What Are My Business Coaching Franchise Options?
Here’s another frequently asked question we get from business coaches around the world:
What are my business coaching franchise options? Are there ways to get into the business besides buying a franchise?
The answer is a resounding YES.
You see, there are basically three different ways to get into the business coaching industry. First is a business coaching franchise, second is a business coaching licensing arrangement, and third is a white label training and education system like the Coaches’ Coach.
Let’s dive into each one.
Business Coaching Franchise Option #1: Buy a Franchise
It goes without saying that the first option is to buy a franchise. Of all the options, business coaching franchises have the highest level of risk and require the most money down, typically $50,000 to $100,000 in the first year, and then five to seven years of on-going monthly royalty payments of about $1000 to $1800 a month, depending on the system. Most franchises lock you in not only for these significant costs, but then lock you into a contract that you can’t get out of and prevent you from competing in certain marketplaces. All told, this is a risky and expensive way to become a business coach.
Business Coaching Franchise Option #2: Licensing Arrangements
Licensing arrangements are offered through companies that will license or certify you as a business coach. You can typically join without the binding contracts that accompany business coaching franchises with a significantly lower financial outlay. Generally speaking, you’re looking at $10,000 to get started as supposed to, say, $100,000 for a franchise. Your obligations with a business coaching licensing deal is typically a year to year and pay a much lower monthly fee, maybe $200, $300, or $400 per month as supposed to a second mortgage. It’s a good way to get a comprehensive curriculum and system without nearly as much risk.
The primary drawback of licensing arrangements is that you don’t own the brand. If you want to promote your own brand and accrue brand equity to your own business, a licensing arrangement might not be for you.
Business Coaching Franchise Option #3: A White Label System
The third option is the model we use here at the Coaches’ Coach. This is an entire business coaching system that you can use as you’d like–in fact, a lot of business coaching franchisees use our program to supplement what they’re already doing! With a white label system like ours, you can take the content, rebrand it, and customize and modify it as you’re paying a monthly membership fee.
In our humble opinion, the Coaches’ Coach system is the best on the market. It includes everything you need to build your business successfully—lead generation tools, systems, templates, digital marketing training, sales training, plus the entire curriculum including the templates and documents you need to coach your clients. Everything is included.
Unlike franchises and licensing, there is no big financial outlay up front to get started with the Coaches Coach. The agreement is month to month and you can choose from an investment level of $97/month, $197/month, or $297/month, depending on your needs. In addition, we can provide a certified Coaches’ Coach to teach you the business if you want to make the most progress, fastest.
Whichever you choose, be sure to weigh your options carefully and do all your due diligence so that you make the smartest, safest decision.