IBISWorld values the business coaching industry at $12 billion and the management consulting industry at a whopping $256 billion. Entrepreneurs who want to get in on that action with a proven business concept have six solid options that are worthy of closer examination with these top 6 business coaching and consulting franchises of 2019.
With the longest post-recession economic recovery still going strong, more people than ever are looking for help to make their business efforts more successful, whether it’s through individual coaching sessions, group work, or consultants with insights for achieving sustained business growth. For entrepreneurs, quality coaching is a viable pathway for unlocking their true potential.
According to John Bowen, co-founder of BSW Inner Circle, a recent survey of 759 entrepreneurs revealed that one in six are turning to coaches to up their game.
The good news for entrepreneurs who want to get into the coaching business is that as demand for coaching increases, coaches can charge more for their services. The key is developing a high-quality clientele and knowing what they want to see in coaches, which includes a proven track record for coaching that has a positive impact on a company’s bottom line or tangible personal results.
Here are the 6 best business coaching and consulting franchises of 2019, two of which have achieved rankings on Entrepreneur magazine’s Franchise 500 list:
ActionCOACH was founded by Brad Sugars in Brisbane, Australia in the early 1990s, originally with the name Action International. It expanded quickly during the first 10 years and now has offices in more than 70 countries around the world.
Coaching and consulting service programs include executive coaching for company leaders, group coaching for business owners, 1-to-1 workshops for business training, webinars, and a product ladder program to fit the needs of nearly any kind of business.
A 2018 client satisfaction survey conducted by independent research agency Smith+Henderson revealed impressive post-coaching results, with 71% of clients reporting the ability to expand their workforce, 84% who saw increased revenues, and 80% who would recommend their ActionCOACH to a friend or associate.
The company is so confident in its services that it offers guaranteed results: “We Guarantee to get results, and that you’ll be able to ‘Find our Fee’ in your business within 17-weeks of ActionCOACH coaching your company, or your coaching is FREE.”
This company currently ranks #390 on Entrepreneur magazine’s Franchise 500 list. Founded in 1993 and franchising since 1997, the number of locations has been up and down throughout the last nine years and currently stands at 856, of which three are company-owned and 704 are located outside the U.S.
2. The Alternative Board (TAB)
The Alternative Board (TAB) was founded in the early 1990s in St. Louis, Missouri by Allen E. Fishman. He realized how important a board of directors was to his own successful business career and wanted to find a way to bring group wisdom to smaller businesses that don’t have boards.
The business concept here is a membership organization for business owners, CEOs, and presidents of companies. Peer groups called “boards” meet monthly to collectively explore how to improve their companies. The size of each group is capped at 12 participants whose businesses are not in direct competition with each other. The group facilitator (typically the franchisee) will usually have at least a decade of experience in consulting and/or senior level management.
Other services include one-on-one business coaching to focus on specific issues, the TAB Connect worldwide network of business owners members can tap into for advice and opportunities, and the Business Builder’s Blueprint strategic planning and implementation process.
This company currently ranks #286 on Entrepreneur magazine’s Franchise 500 list. Founded in 1990 and franchising since 1996, the number of locations has been steadily climbing in recent years, from 121 in 2012 to the current total of 279, of which 27 are company-owned and 142 are located outside the U.S.
3. The Entrepreneur’s Source
The Entrepreneur’s Source dates back to the mid-1980s when Terry Powell founded the company to offer education, coaching, and other resources to anyone interested in owning and running their own business. Included among the company’s services are coaching sessions for existing franchisees to grow their businesses, educational programs about business ownership opportunities, coaching for personal goal setting, evaluation and dream attainment, and guidance through career transitions.
The company relies heavily on the ILWE model (income, lifestyle, wealth, and equity) to help entrepreneurs hone in on defining what kind of income they want to be making, the kind of lifestyle they want to lead, the wealth they’d like to have available in terms of material goods and money, and the long-term equity they’d like to have invested in assets for the future.
This coaching chain falls under the umbrella of Franchise Source Brands International, which includes other franchises such as AdviCoach, Business Partner Marketing Coach, Expense Reduction Coaching, Decor & You, and DigiKids.
Founded in 1984 and franchising since 1997, the number of locations has declined in recent years from a high of 296 in 2011 to the current total of 104, none of which are company-owned and two of which are located outside the U.S.
4. The Growth Coach
The Growth Coach offers business coaching, sales coaching, and entrepreneurial education to help business owners improve their companies as well as their lives. It’s about slowing down, reflecting, and planning, taking the time needed to develop a road map for building a highly profitable business that runs smoothly and is worth more when it’s time to sell.
Services include (among others) The Strategic Mindset, a quarterly coaching program that lasts for two years to help business owners step back and see the big picture and learn to leverage their strengths into business success; Growth Coach one-on-one sessions to provide an objective perspective critical to success tailored to fit the business owner’s needs and schedule; the Strategic Manager program quarterly workshops for business owners to learn how to develop strong managers; and the Sales Master year-long program to get better sales performance and results.
Founded in 2002 and franchising since 2003, the number of locations has been declining in recent years from a high of 166 in 2012 to the current total of 78, none of which are company-owned and 13 of which are located outside the U.S.
5. High Achievers
High Achievers was started by David Alexander in the late 1990s to help entrepreneurs, solopreneurs, and small business owners Embrace a Lifestyle of High Achievement. The company’s current focus is helping local small companies build better business skills, benefit from peer-to-peer wisdom, and get the right business coaching at the right time. It accomplishes this through two main program offerings: Catalyst Mastermind Group and Nexpert Coaching.
A Catalyst Mastermind Group is a monthly peer group meeting of around 10 business owners to benefit from each other’s experience and wisdom to move their businesses forward and achieve greater success through setting goals, planning, taking action, and being accountable to the group.
The Nexpert Coaching program consists of one-to-one coaching that matches up a business owner with coaches that have relevant experience in the same or similar industry, or extensive experience in a particular skill area needed. Most entrepreneurs tend to excel in one or two areas, leaving them vulnerable in other areas that need strengthening. Nextpert Coaching bridges those gaps. When one area has been mastered, then the business owner moves on to the “next expert” (Nexpert) needed in another skill area.
Founded in 1998, this company just launched its franchising program in 2018. The company website currently lists six locations in Georgia, Tennessee, Illinois, and North Carolina.
6. Franchise Creator
Franchise Creator is a full-service franchise consulting and development company founded by Hossein Kasmai based on his own successful experience in franchising business concepts. The company aims to help business owners who want to franchise their concept.
Services include general franchise consulting to identify issues, evaluate marketing and sales performance, determine growth objects, and more; operations manual drafting/updating because the key to successful franchising is the comprehensive, consistent guidance on operating each location in the same way; and franchise lead generation to identify potential franchisees through the right marketing. Business owners can select just the specific services they need, or work with the company to handle every aspect of a franchising program from development, launch, and ongoing marketing.
Founded in 2011 and franchising since 2013, there are now three locations, one of which is company-owned and all of which are located in the U.S. The flagship location serving as company headquarters is in Miami, Florida. The other two locations are in Boca Raton, Florida and Atlanta, Georgia.
An Important Note About Our Methodology
The franchises on this list were ranked according to the number of units in the franchise system. If you are a prospective franchisee searching for franchise opportunities that meet or exceed certain performance benchmarks for sales, profits, and return on investment, please check out this list of America’s Most Lucrative Franchises.