Essentially, there are 2 types of coaching franchises:
The coach franchise is a strange business phenomena.
In order not to be hypocritical, the coaching franchise should perform well before mentoring its clients.
Unfortunately, you cannot compare business coaching or personal training to the sportsmen coaching methods.
The primary concept of the coaching franchise is the intellectual rather than physical training.
The coaching business does require a corporate image. However, the coaching franchise is not the only way to achieve the corporate business exposure. Local directories, internet-marketing and business networking are ways to successfully market your coaching skills without excessive franchise fees. But, the coaching franchise is definitely a faster way to achieve the necessary exposure.
If you have 30 grand to spare then you should consider the personal training franchise or (even more importantly) the business coaching franchise. However, if the money is not in your possessions then avoid borrowing it. The coach franchise is not an expensive business but it is unpredictable. The minimal investment into your own coaching venture is a better choice than the high risk business loan for uncertain larger gains.
Unfortunately, the coaching franchise is a financial risk when compared with the independent operations.
Yes, you can get good returns with franchises but the financial investment is significant.
You need about $5K for training and about 20K for a working capital to run the coaching business.
If you choose to work from home then your running costs are minimal.
Therefore, you may need to invest about $30K for an office-based independent coaching operation.
About $20K will be spent on a rent and outgoings.
However, the mere initial investment for business coaching franchise and the personal training franchise can range between $30K-$50K. The rent, outgoings and the working capital are generally not included in those fees and charges. Therefore, the total investment for the coach franchise can be as high as $60K-$80K. Thus, you need to ensure (and leave no stone unturned) to research the franchisor's performance before purchasing their business.
There are good coaching franchises which are worth investigating. Prosell, HR Coach, The Happiness Institute and The Real Learning Experience Training Franchise are decent coach franchises. However, the reputation is not everything. You must investigate these businesses' advertising exposure and check forums to get a better picture.
Generally, you need between $30K to $60K to run a coach franchise.
Some franchisors include more in their fees than others.
However, another $20K-$30K is required for a working capital.
For example, you need about $40K to purchase HR Coach franchise. The HR Coach is a typical business coaching franchise. It offers business strategy and HR coaching.
Prosell sells for $50K. Yes, it is expensive but the company has a very good business model. It merges a business coaching franchise with personal training franchise under the same umbrella. Certainly, it is a winning combination of services.
Finally, The Real Learning Experience Training Franchise costs about $90K. Again, it is an expensive choice but the investment includes fees, charges, training and the working capital. The Real Learning Experience Training Franchise has a very good exposure to corporate clients.