Many entrepreneurs who want to take their career to the next level and buy a business coaching franchise have one important question they want answered: do I need to be a coach to own and operate a business coaching franchise? The short answer: no, you do not. The long answer to that question is also the same, however, before buying a business coaching franchise, there are a few things you need to take into consideration. In this article, we are going to go into more detail about what it is like to own a business coaching franchise, and what it really takes to become a successful business coaching franchisee.
If you’re considering investing into a business coaching franchise, you could be wondering if it’s the right route for you. So here are some of the important things you need to know about owning a business coaching franchise before you take the leap.
Perhaps one of the most alluring aspects of owning a business coaching franchise is that no two days are alike. As a business coaching franchise owner, there a lot of different tasks that need to be done and you may be the one responsible for many or all of them to begin with. One day a week, you might be a client yourself speaking with your business coach and planning out the week. On another day, you might invest your time working on your marketing and lead generation strategy.
You will also allocate part of your week to coaching your clients, as well as planning time to review and manage your cash-flow. Owning a business coaching franchise offers you the option to do what you love and enjoy, while also feeling confident in the knowledge you have the support of the franchisor to help you with marketing sales and finance when and if you need it.
Owning a business coaching franchise means you have a variety of options when it comes to earning an income. You could choose to have a single source of income or multiple streams of revenue, it is entirely up to you. However, it is a good idea to offer services that can accommodate businesses of all sizes and that fit the requirements of your business community You can choose to earn an income from one-on-one coaching,group coaching, quarterly strategy days, and seminars and webinars, the mix is entirely up to you.
While it is not necessary to have a consulting or coaching background to own a business coaching franchise, it is important you have a strong business background. If you have ever owned or managed a business, or if you have a background in marketing and sales, chances are you will be a very successful business coaching franchise owner. It is also important you have a good understanding of business principles, a solid entrepreneurial drive and a good amount of self-motivation. A passion for helping others wouldn’t go amiss either.
A successful business coaching franchise owner is someone who is results-driven, highly accountable to themselves and most importantly, willing to follow a system. What makes a great business coaching franchise owner is someone who is eager to learn, has a passion for helping others, is keen to put in the effort to get the business up and running, has excellent people and relationship-building skills, sales experience, an ability to take direction and a willingness to take risks. They must also be able to ask for help when they need it, and above all, someone who is well-organised and time-efficient.
You don’t need to be a COACH to buy a business coaching franchise. You just need the appropriate characteristics combined with the will and the drive to succeed, some business know-how and a passion for changing lives. The rest can be taught and learned as you go. Click here to learn more about ActionCOACH franchise opportunities!