The global business coaching company gives franchisees a financially and personally rewarding opportunity to achieve their own entrepreneurial dreams by helping others do the same.
The American dream of entrepreneurship has resulted in a country of over 28 million small business owners, and today, following the COVID-19 pandemic, those entrepreneurs need more help than ever. We’ve all seen the headlines — labor shortages, supply chain disruptions, inflationary pressures. Luckily, there are plenty of companies out there in the $11 billion business coaching industry that not only makes it their business to help other businesses, but also offer franchisees the opportunity to tap into that demand and build a successful business of their own.
Growth Is the Name of the Game
The Growth Coach, for example, is a business coaching franchise that allows entrepreneurs to make a real difference in the lives of small- to mid-sized business owners in their local market by adding crucial business coaching and support. This not only helps independent business owners but also creates a rewarding business opportunity, both financially and personally, for the franchisees of The Growth Coach brand.
And the numbers speak for themselves. In 2022, the team here at The Growth Coach signed 20% more franchise agreements than in the previous year. We also saw 20% of franchisees break sales records across the system.
While business coaching in and of itself is becoming more relevant, The Growth Coach stands out by providing value and offering flexibility that allows small and mid-sized businesses to thrive despite current market conditions. Our coaches have continued to bring in new clients, and this
in turn, has driven revenue growth and helped us get new franchise owners launched successfully.
Keeping up with the Times
The business world is changing, which means business coaches need to adapt alongside it if they hope to align with the evolving needs of business owners today.
For example, since the onset of COVID, we have been prioritizing technology by adding virtual coaching tools, a new CRM system, and updated accounting software. Before the pandemic, only 17% of U.S. employees worked from home, and now 74% of professionals expect remote working to become the new normal. Our overall goal is to ensure we have more technology and education available virtually so we can coach from anywhere in the world and give clients easy access to our business development tools and products.
Beyond technology, we’ve also continued to adapt to the shifting trends of what business owners want. For example, as the U.S. population has become more diverse, so has ownership of the nation’s businesses. According to the Census Bureau’s 2021 Annual Business Survey (ABS), approximately 20%, or 1.2 million, of employer businesses were owned by minorities — which is significantly higher than it was in the decade prior.
To align with this trend, one of The Growth Coach’s big initiatives this year was the rollout of our Diversity, Equity, and Inclusion program, which offers workshops to help businesses continually prioritize diversity on their teams.
Another one of our recently launched products this year was our Succession Planning platform, which helps business owners plan for the future. Experts predict nearly $30 trillion in wealth is expected to pass down from aging business owners to their children over the next few decades, but most entrepreneurs are not set up with the necessary tools to do so. In fact, despite nearly 75% of business owners expressing the desire to pass down their business to the next generation, surveys have shown that almost half of the family-owned businesses don’t have a succession plan. Our goal with The Growth Coach is to provide our clients with a long-term plan for success, which is why we continue to look to the future and stay ahead of emerging trends.
The Value of Franchising
The beauty of franchising with a business coaching concept like The Growth Coach is that franchisees have access to all of the expertise and support that they themselves will be offering their fellow entrepreneur clients. Each and every franchisee is not only connected to the corporate team but is also coached directly by Growth Coaches in the field and groups of fellow franchise owners.
This one-of-a-kind support infrastructure, as well as the growing demand amongst business owners, are some of the reasons why The Growth Coach is gearing up for widespread expansion across the country. Fueled by our recent momentum, we are seeking passionate coaches and consultants in markets across the country to join our network of franchise owners. The goal is to establish 300 franchise locations in 25 countries by 2027. Target markets the brand is currently eying for development include California, Texas, and Colorado.
As we continue to roll out new products and introduce them to more people across the country, we are proud to offer a platform in the business coaching industry that allows franchisees to not only achieve their entrepreneurial dreams but also help others do the same.