Business Overview

Career coaching is in high demand as more individuals enter the job market and jobs continue to be scarce. Offering professional insight to others as they seek to grow their personal brand and increase their career trajectory can be a very rewarding business, both personally and financially.

Who is this business right for?

If you love working with people, are a great communicator and motivator, career coaching may be a great fit. Generally, career coaches have been in the business world for some period of time, may have advanced degrees, have spent time in a consulting firm, or perhaps are retiring from executive leadership positions.

What happens during a typical day at a career coach business?

If you own a career coaching business, you'll likely spend your day communicating with clients and doing research to help solve challenges. Continuing education is also in your future, as you'll need to stay on top of leadership trends. Staying active on social media is also an important trait, as you'll need to write and publish new content often to promote yourself as a leader in the career coaching space.

On a daily basis, you might find yourself re-writing a resume, updating a LinkedIn profile, polishing up a corporate presentation, or counseling a client on a particularly difficult situation with others.

What is the target market?

Preferred clients are individuals who are upwardly mobile, or who have recently been laid off from a mid-level or higher position. Understanding where people are in their leadership lifecycle is important to the type of advice and support you should offer to them.

There are no specific limitations on ages, but younger clients may be looking more for personal coaching, while older clients may need your assistance to stay up on current trends and assure that their resume is competitive.

Career coaches may also be hired by large organizations to help support high-level executives who are struggling with specific issues, such as dealing with difficult people or negotiations. These high-potential individuals may need a little boost in order to be as successful as possible in their position, or they may be preparing to take on new responsibilities.

How does a career coach business make money?

Career coaches make money by charging individuals or organizations for their services. Charging by the hour is the most common payment model in this line of work.

What is the growth potential for a career coach business?

Truly, the growth potential for a career coaching business is only limited by the owners ability to work hard and keep pushing! One way to continue to grow your business is by partnering with others. Executive coaching and leadership development companies such as Arden Coaching in New York can offer a stream of clients coming your way. According to the Bureau of Labor Statistics, individuals in this career path can expect to earn a median degree of $61,900 working full time. The good news is that the number of available positions in this career field is expected to grow at around 11%, which is faster than the average.