Business coaching isn’t just a professionally and personally rewarding job, it offers freedom and flexibility and it doesn’t require you to work a 40+ hour week (although you could if you want to). Most importantly, it allows you the opportunity to take control and be your own boss within the security of a system that has been proven to work. And for the right people, it is also financially rewarding, which for many entrepreneurs is an extremely enticing prospect if you are thinking about taking the leap and leaving your 9-5 job and entering the world of business coaching. And, while it’s likely you’re already in a senior position in your professional field with a decent salary, chances are there is a limit to what you can earn. When it comes to business coaching, how much you earn is entirely up to you. Not only that, but as a business coach, you can actually make more money, in less time, giving you more time and freedom in your personal life. OK, so let’s get straight into it and crunch some numbers so you can see just how much money you can make as a business coach.
Do You Buy a Franchise or Go it Alone?
One thing you need to consider when looking at how much you can make as a business coach is whether you would be buying into a franchise, or going at it alone and building your own business. The thing to remember is, 75-90% of all startups fail, which is why so many modern entrepreneurs are now choosing the franchise route. While yes, you need to pay a premium upfront, the benefits of buying a solid franchise are innumerable and certainly outweigh the initial costs, which you would recoup quickly anyway. When you invest in a business coaching franchise, you’re investing into a proven system that actually works and gets results. You’re investing in to tried, tested and ultimately successful methods of operation, you’re investing into marketing and advertising by connecting with a brand name – just to name a few benefits!
Business coaching services and products
For the purpose of this article, we are going to provide you with figures that are based off how much money you can make as an ActionCOACH business coach. Our business coaches earn their income through our proven range of products and services. In terms of rates, our programs work on a monthly retainer rather than hourly rate, however, when broken down, rates can be calculated at between $275 and $550 per hour.
At ActionCOACH, our flagship product is our 1-2-1 Mentoring Program, which sees our business coaches earn about $2,000 per month, per client. This program involves our business coaches running fortnightly or weekly sessions that run for an hour or so with each of their clients, either over the phone or in person, guiding and helping them implement specific strategies that are relevant to their business’ situation at the time. ActionCOACH business coaches also have the option to offer the following services in order to increase their earning potential:
- Alignment Consultations – from $1,200
- ActionCLUB Group Coaching – from $1,500/person
- PlanningCLUB – from $2,500 per attendee
- Executive Business Coaching – from $500 per hour
- GrowthCLUB 90 Days Planning – from $350 per attendee
- MentorCLUB – from $500 a month per member
- In-house Training – from $2,500 per day
- Books, DVDs and CDs retail – from $18 – $695
ActionCOACH business coaches usually work with owners of businesses across a variety of industries and sectors. Usually, these businesses have a turnover of over $500,000 and are seeking new and innovative systems that will help them generate more growth, increase their profits, free up their time or improve their team’s efficiency.
So how much you earn as an ActionCOACH business coach is entirely up to you based on . how much work you’re wanting and the effort you’re willing to put in to it.