As the UK business market slowly frees itself from the shackles of recession, and technologies continue to develop exponentially, the need for business coaching has never been greater.
Investing in a coaching franchise will tap into the growing desire of business owners to leverage the added value that the right technology and resources can create, and bring them up to date as the economy starts to tick again.
2013 began with a surge of optimism from business owners, heralding better times ahead. According to Aviva’s SME Pulse report published in January, 48% of small and medium-sized businesses predicted growth and a further 65% predicted healthy sales – a leap almost double that of the same time the previous year.
Indeed, in a recent interview with the FT, David Oldfield, managing director of SME and mid-markets banking at Lloyds Banking Group, said of the company’s UK’s business growth statistics of this year to date: “These figures are a sign of a real building of momentum that we expect to continue into the final quarter of 2013. Companies . . . have grown in confidence during the summer, and the latest survey shows that this new-found optimism is translating into results.”
He added: “Increasing numbers of businesses are now turning their attention towards ramping up production capacity to meet growing output requirements.”
Herein lies the opportunity for coaching franchises.
As many businesses have been in suspended animation in last few years, operating with their pre-loved models and technology, hiring few new staff and necessarily freezing wages, they are likely to see an exodus of employees looking for new opportunities and stability.
“Now is the time to hire external consultants to retain those valuable team players and managers. This often includes fine tuning of the company culture and methods of operation. A skilled change consultant can smooth the transition and offer outsourcing advantages when refining new systems and training existing employees to take them over.” Says team culture specialist and founder of Tigers Success Series, Diane Crampton.
Furthermore, as business confidence grows, specialized coaching can offer a wealth of new expertise from cutting edge technologies to encouraging forward thinking communication strategies between management and employees. Coming from an objective standpoint, these kind of consultants can look at a business and help the owner decide how it wants to navigate the explosive growth in tech fields and structure a responsive business strategy.
New roles are constantly evolving from the tendrils of technological growth – the proliferation of IT professionals, website designers and international tech-support was inconceivable 20 years ago…and there will be new sectors like this on the horizon that companies will need to contemplate.
At this point in the economic cycle, investing in a coaching franchise will no doubt mean you will have a hungry market, and a lucrative business on your hands.
Top coaching franchises such as ActionCoach, The Business Wealth Club, New Horizons, Pitman Training The Athena Network (who specialize in enabling women in business) operate across the UK and provide comprehensive training, tutorials and support to the prospective franchisee.
Which franchise opportunity would suit you will depend on your investment potential and experience. Some may prefer to keep financial commitment small at the start – The Athena Network offers its franchise set-up and training at around £10, 000. At the other end of the spectrum, ActionCoach requires a basic entry level investment of £41,000 and for this kind of outlay, whilst you don’t need formal coaching experience, it’s worth considering if your skill set would equip you for the job.
That being said, buying into a coaching franchise means your successes will lie in enabling other business persons achieve their full potential. What greater job satisfaction could a franchise opportunity offer?