{"id":1068,"date":"2021-08-09T08:22:00","date_gmt":"2021-08-09T12:22:00","guid":{"rendered":"https:\/\/expandsmtest.com\/franchiseking\/franchise-opportunities-whats-the-real-story-behind-those-business-coaching-franchises\/"},"modified":"2024-06-10T11:22:30","modified_gmt":"2024-06-10T15:22:30","slug":"coaching-franchise","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/coaching-franchise","title":{"rendered":"What Everybody Ought To Know About Coaching Franchises"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"625\" height=\"400\" src=\"https:\/\/www.youtube.com\/embed\/baTslVz479c?si=nQNtQqFw_rzH6SEK\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>In this post, I&#8217;m going to share the truth about business coaching. Specifically, coaching franchise opportunities. Let&#8217;s begin. Did you enjoy that video?<br \/>\n&nbsp;<\/p>\n<h2>Why A Coaching Franchise May Be Attractive<\/h2>\n<p>Let&#8217;s say you lost your job.<\/p>\n<p>Let&#8217;s also say you&#8217;ve been actively searching for a new job.<\/p>\n<p><strong>For Like 4 1\/2 months<\/strong>.<\/p>\n<p>Given that, you&#8217;re starting to get a bit* impatient.<\/p>\n<p>*Let&#8217;s go with more than a &#8220;<em>bit<\/em>.&#8221;<\/p>\n<p>That said, when you&#8217;ve been out of a job for awhile, and you&#8217;re not getting offers, the promise of &#8220;<em>buying the franchise of your dreams<\/em>&#8221; for only $80,000 or so starts to sound pretty darn attractive.<\/p>\n<p>That\u2019s what one franchisor did a while back; in the form of an online advertisement on a prominent job search website. Here\u2019s how the ad read\u2026<\/p>\n<blockquote><p><em>&#8220;If you are interested in building significant income, wealth and equity<br \/>\nand having a lifestyle where you control your destiny then you may want<br \/>\nto consider becoming a business coach with ____ ___.&#8221;<\/em><\/p><\/blockquote>\n<p>But here&#8217;s the deal. There&#8217;s <em>nothing<\/em> in the ad that states that the &#8220;<em>opportunity<\/em>&#8221; is actually a <strong>business coaching<\/strong> <strong>franchise<\/strong>. And that an investment would be required.<\/p>\n<p><a title=\"\" href=\"https:\/\/www.advicoach.com\" target=\"_blank\" rel=\"noopener noreferrer\">AdviCoach is the name of the franchisor that paid for the ad.<\/a><\/p>\n<p>Now, <em>call me crazy<\/em>, but I don&#8217;t feel that a franchisor should be advertising on a job-search website. After all, they&#8217;re not offering a job. They&#8217;re offering a <a href=\"https:\/\/www.thefranchiseking.com\/servpro-van-restoration-companies\" target=\"_blank\" rel=\"noopener\">franchise business opportunity<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2>It&#8217;s Unethical<\/h2>\n<p>Why?<\/p>\n<p>Because it&#8217;s false advertising. And it&#8217;s mean.<\/p>\n<p>Think about it.<\/p>\n<p>If <em>you&#8217;ve<\/em> been out of work for 8 months, and saw a <strong>job listing<\/strong> in which you met one or more of the &#8220;<em>requirements<\/em>,&#8221; and the salary range stated was outstanding &nbsp;(<em>like $100,000-$400,000<\/em>), wouldn&#8217;t you start shining your shoes to get ready for an interview? I know I would. (<em>If I was job-hunting<\/em>)<\/p>\n<p>Again, would you fill out the &#8220;<em>Request More Information<\/em>&#8221; form on a job search website if a job like that existed? Probably.<\/p>\n<p>If only it was a job.<br \/>\n&nbsp;<\/p>\n<div style=\"width:100%;height:0;padding-bottom:53%;position:relative;\"><iframe loading=\"lazy\" src=\"https:\/\/giphy.com\/embed\/11FiDF2fuOujPG\" width=\"100%\" height=\"100%\" style=\"position:absolute\" frameborder=\"0\" class=\"giphy-embed\" allowfullscreen=\"\"><\/iframe><\/div>\n<p><a href=\"https:\/\/giphy.com\/gifs\/jurassic-park-jeff-goldblum-there-it-is-11FiDF2fuOujPG\">via GIPHY<\/a><\/p>\n<h2>A Coaching Franchise IS A Franchise<\/h2>\n<p>I&#8217;ve known about low-cost franchise opportunities like business coaching for a long time. As a matter of fact, I <em>really<\/em> know about them. Let me show you.<\/p>\n<p>As you may know, I <em>used<\/em> to be a franchise consultant. (<em>Also known as a franchise broker or franchise coach.<\/em>) <a href=\"https:\/\/www.thefranchiseking.com\/about-the-franchise-king\">This<\/a> is what I do now.<\/p>\n<p>And <a title=\"all about franchise consultants and brokers\" href=\"https:\/\/www.thefranchiseking.com\/what-everybody-ought-to-know-about-franchise-consultants\" target=\"_blank\" rel=\"noopener noreferrer\">this is what a franchise consultant does<\/a>.<\/p>\n<p>With this in mind, when I first started in franchise consulting, a local woman contacted me and invited me to lunch. She was the Northeast Ohio <a title=\"master franchise\" href=\"https:\/\/www.franchisedirect.com\/masterfranchises\/\" target=\"_blank\" rel=\"noopener noreferrer\">Master franchise owner<\/a> of Action International, a coaching franchise I\u2019d never heard of.<\/p>\n<p>So, we had lunch, and she wanted to know if I was interested in helping her find <a href=\"https:\/\/www.thefranchiseking.com\/franchises-for-sale-cleveland\" target=\"_blank\" rel=\"noopener\">local franchisees<\/a>-coaches for her business. I told her <em>\u201cmaybe<\/em>,\u201d and left it at that.<\/p>\n<p><strong>In reality, my \u201c<em>maybe<\/em>\u201d was really a no.&nbsp;<\/strong><\/p>\n<p>A big, fat, no, actually. I didn\u2019t feel that a large volume of small business owners would <em>pay<\/em> for \u201c<em>business coaching<\/em>\u201d services in our area. Especially if their businesses were struggling.<\/p>\n<p>(<em>In other words, if a small business is struggling financially, how the heck would they be able to pay thousands of dollars a month in business coaching fees?<\/em>)<\/p>\n<p>Right or wrong, a business coaching franchise didn\u2019t feel like the right type of business opportunity for me to present to my franchise candidates.<\/p>\n<p><em>(Later on, the franchise brokerage group I was with at the time ended up taking Action International on as a client, and I did present the opportunity once or twice. One time was because the candidate said he wanted to \u201ccoach.\u201d The other time, the only thing the candidate wanted to to see were consulting-type opportunities. So I reluctantly obliged. Neither candidate ended up buying the franchise. On one other occasion, I presented a<\/em>&nbsp;<em>different coaching franchise offering that my group took on, and that was only because he was already looking at one, and he wanted another choice. He ended up buying the original one he was looking at. Update: he&#8217;s since moved away from the one he bought, and is a highly successful business strategist.)<\/em><br \/>\n&nbsp;<\/p>\n<h2>What I Know<\/h2>\n<p>Now to the part that I really know about. The lady that approached me ended up selling around 7 <a href=\"https:\/\/www.thefranchiseking.com\/actioncoach-franchise-review-business-coaches\">ActionCoach franchises<\/a> in total.<\/p>\n<p><strong>And 6 out of the 7 <\/strong><a href=\"https:\/\/www.thefranchiseking.com\/own-a-franchise-business\">went out of business<\/a><strong> within two years.<\/strong><\/p>\n<p>One of the ones that failed was owned by my ex-brother-in-law.<\/p>\n<p>One of the other ones that failed was owned by a friend of mine.<\/p>\n<p>They both closed their Action International (<em>now called ActionCoach<\/em>) franchises. But why?<\/p>\n<p>Here is what both of them told me;<\/p>\n<ul>\n<li>It was a <strong>sales<\/strong> business<\/li>\n<li>There was not much support from the Master Franchise owner<\/li>\n<li>It was really hard to sell the coaching programs<\/li>\n<li>It was a <strong>sales<\/strong> business<\/li>\n<\/ul>\n<p>The business model of a business coaching franchise requires one to go out and find small business owners that are willing to pay $2,000<strong>+<\/strong>&nbsp;a month for coaching and consulting services. Of course most of them say no! Most small business owners say no a lot, when they are called on by salespeople. It\u2019s natural. But, a great salesperson may be able to turn some of those no&#8217;s into a yes.<br \/>\n&nbsp;<\/p>\n<h2>The Problem With Coaching Franchises<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-37639\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working-320x213.jpg\" alt=\"coaching franchise owner\" width=\"600\" height=\"400\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working-620x413.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working-768x511.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working-600x400.jpg 600w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working.jpg 999w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><br \/>\nHere\u2019s the real problem with owning a coaching franchise.<\/p>\n<p><strong>The franchisees may not get to coach a whole lot unless they are really strong salespeople! <\/strong><\/p>\n<p>In other words, unless a business coach can convince someone to buy their services (<em>close the sale<\/em>), they won&#8217;t be coaching anyone.<\/p>\n<p>I&#8217;ll go even further. It\u2019s my contention that the reason that a large number of \u201c<em>business coaches<\/em>\u201d have failed in their franchise coaching businesses is that <em>they never should have been sold the franchises to begin with.<\/em><\/p>\n<p>That&#8217;s right: Some franchisors in the business coaching sector of franchising sell franchises to people <a href=\"https:\/\/www.thefranchiseking.com\/would-be-franchise-owners-offended\">who aren&#8217;t qualified<\/a>.<br \/>\n&nbsp;<\/p>\n<h2>Your Sales Ability<\/h2>\n<p>How would you rate your sales ability-on a scale from 1-10? (&#8220;<em>10&#8243; being a master salesperson, and &#8220;1&#8221; being not good at sales.<\/em>)<\/p>\n<p><strong>If your answer was less than a &#8220;<em>7<\/em>,&#8221; a business coaching franchise is not for you.<\/strong><\/p>\n<p>So, why would&nbsp;<em>any<\/em>&nbsp;franchisor who offers business coaching, sell a franchise to a candidate that is not a strong sales person. One would think that they would ask a similar sales ability question on<em>&nbsp;<\/em>their franchise questionnaire, right?<\/p>\n<p>This is the part of the franchise business that I can\u2019t stand.<\/p>\n<p><em>No franchisor should offer a franchise opportunity to a candidate who&#8217;s not fully qualified-and not just financially!<\/em><br \/>\n&nbsp;<\/p>\n<h2>The Truth<\/h2>\n<p>To summarize, business coaching franchise opportunities can be pretty enticing.<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>They&#8217;re low-cost. (<em>They typically have an upfront investment at or a little under $100,000<\/em>.)<\/li>\n<li>A few years ago, there were online ads &#8220;<em>suggesting<\/em>&#8221; the potential for very-high income<\/li>\n<li>The &#8220;<em>visual<\/em>&#8221; aspect of business coaching is attractive. (<em>What do you see?<\/em>)<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>But, the<em> reality<\/em> of what it takes to be a successful owner of a business coaching franchise is very different.<\/p>\n<p>In this case, if your sales ability is just average-or worse, below average, your chances of success go down tremendously. One more thing.<\/p>\n<p>I want you to know that there <em>are<\/em> <a title=\"be successful\" href=\"https:\/\/www.thefranchiseking.com\/10-things-that-will-insure-your-success-as-a-franchise-owner\">successful<\/a> business coaches around.<\/p>\n<p>But, if <em>you<\/em> decide to explore business coaching, make sure you do your homework.<\/p>\n<p>Because as attractive as a low-cost franchise is, <strong>if it&#8217;s not a good fit for your skills, you&#8217;re going to have a lot of headaches<\/strong>.<\/p>\n<p>And you <em>will<\/em> lose money.<\/p>\n<p>Have you ever looked at coaching franchises?<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this post, I&rsquo;m going to share the truth about business coaching. Specifically, coaching franchise opportunities. Let&rsquo;s begin. Did you enjoy that video? &nbsp; Why A Coaching Franchise May Be Attractive Let&rsquo;s say you lost your job. Let&rsquo;s also say you&rsquo;ve been actively searching for a new job. For Like 4 1\/2 months. Given that, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":37639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[12,2119],"tags":[878,247],"class_list":["post-1068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coaching-franchises","category-find-a-franchise","tag-business-coaches","tag-franchise-advice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Coaching Franchise Opportunities: Are They Legit?<\/title>\n<meta name=\"description\" content=\"In this article about owning a coaching franchise,The Franchise King\u00ae tells you the real story about opportunities in business coaching.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thefranchiseking.com\/coaching-franchise\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Everybody Ought To Know About Coaching Franchises\" \/>\n<meta property=\"og:description\" content=\"In this article about owning a coaching franchise,The Franchise King\u00ae tells you the real story about opportunities in business coaching.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thefranchiseking.com\/coaching-franchise\" \/>\n<meta property=\"og:site_name\" content=\"The Franchise King\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-09T12:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-10T15:22:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/business-coach-working.jpg\" \/>\n\t<meta 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