Did you know that there’s an entire category of novels just for quilters? There is! And you might be thinking…what a specific, focused demographic: fictional stories for quilters. When starting your coaching business, you want to stand out. The best way to do that is to narrow your coaching niche. After all, if you try to sell to everyone, you will sell to no one.
Coaching is a career that can offer tremendous benefits, and it’s often easy to begin. It’s also an in-demand field, so it is the perfect time to start!
A coach is a professional who comes alongside another person, helping them to perform and achieve better.
They may specialize in a specific field or provide general support and advice on various topics such as career changes, self-improvement, health and fitness, communication, and personal relationships.
Coaches often provide guidance and encourage their clients to learn how to set and reach their goals and identify and work through individual challenges.
Coaching is an excellent career if you want to love what you do, have a flexible schedule, and enjoy lifelong success. There are many benefits to starting a coaching business.
Have you ever heard the saying, “If you love what you do, you’ll never work a day in your life”?
Many coaches feel this way about their careers, loving what they do because they feel good about what they do. In addition, they enjoy supporting and encouraging others to be all they were created to be.
And not only are coaches happy with what they do, but their clients are happy too.
In fact, one survey showed 80% of life coaching clients said they improved their self-esteem or self-confidence. Now that’s a benefit!
This means that as a coach you’re not only making your clients happy, but you’re also providing tremendous value to them. How could you not feel great about working in a career like that?
As a coach, you have the flexibility to set your own hours and work from home. And if you have any concerns about trying to coach online, rest assured that online coaching has become quite popular.
In fact, face-to-face coaching decreased after the pandemic by 74% – a steep drop (which is to be expected). But because of this decline, online coaching has increased by an astounding 57%. And online health coaching was found to be just as effective as face-to-face coaching.
Because the market is so open to online options, it is easier than ever to start an online coaching business – all while creating your own schedule and working from home.
The idea of loving what you do and having a job that is flexible might sound great, but you still may wonder, “How much can a coaching business make?”
The sky’s the limit!
The estimated global revenue from coaching in 2019 was $2.84 billion, and the average annual income from coaching averages $62,500, keeping in mind this figure is dependent on each coach’s performance.
Many coaches can run a six-figure coaching business, and some coaches even enjoy running 7-figure businesses (including many of my students and clients).
With hard work and dedication, you can create the level of income and lifestyle that you desire.
As a coach, you have the opportunity to work with interesting and inspiring people, helping them to reach their goals and full potential.
Before you embark on your coaching journey, decide what kind of coach you’d like to be.
Make a list of your strengths as well as the areas in which you have some expertise. When others ask you for advice, what are they usually asking about? What do others say you are really good at? What are you really interested in?
Our friend Jon Acuff says, “if I can smell the sunscreen from your honeymoon on you still, don’t sell me a marriage course.” It’s important to honestly evaluate your strengths, expertise, and life experience as you narrow down your coaching niche as the ability to build trust is the number one predictor of success as a coach.
“The most important work we can do is show up as our real selves,” says Megan Macedo. You want your clients to have a “Wow, she gets me! That is the person who will help me!” experience. Leaning on your own story can help you select the best demographic to focus on or *sub-niche* for your coaching business in the beginning.
As you’re determining your niche and sub-niche, remember you’re going to be serving your client for 3 – 12 months on average. You want to select a group you’re passionate about supporting.
Now it’s time to choose your niche! Here are some creative examples.
As a life coach, you can help people with different aspects of their life and take satisfaction in knowing you are helping them make positive changes.
The following list is not exhaustive, but it should give you a good idea of the different kinds of life coaches and niches:
Marriage coach for newlyweds
Parenting coach for moms of preschoolers
Clarity coach for recent graduates
Organization coach for remote workers
Personal style coach
Life transition coach for women who’ve relocated
Dating coach for midlife singles
Do you want to help people improve their overall health and enjoy a better life? Working with a health coach helps people increase physical activity, manage weight better, and improve mental health.
A review of 13 studies showed that health coaching also helps improve the management of chronic diseases. These studies included the positive impact that coaching had on the client’s social life as well as their psychological, physiological, and behavioral health.
As a health coach, you might help clients in the following areas (or any other health area you have expertise in):
Fitness coach for active seniors
Meal planning coach for busy moms
Bible reading coach
Weight management coach for post-menopausal women
One study found executive coaching had a 788% return on investment, so business coaching is a great choice as you seek a niche!
This is my niche, and I’ve discovered many benefits business coaching can offer.
Here are some ideas:
Career coach for women changing industries
Social media coach for small businesses
Public speaking coach for women in ministry
Media coach for new entrepreneurs
Customer service coach for entrepreneurs
You likely have skills you’ve never thought could be used as a coach. Providing guidance, advice, feedback, and support will help your client avoid common mistakes.
Photography coach for new moms
Speed reading coach
Technology coach for seniors
Airbnb host coach
Want to know what you could charge as a coach? Take our coaching rate quiz to find your perfect rate.
Once you’ve narrowed down the field of coaching you want to get started in, research training and education in that area.
It is also helpful to look into certifications for your field of coaching. Certification is only sometimes necessary, but it does offer additional credibility that helps potential clients believe you have enough expertise for them to spend their hard-earned money on your coaching services.
And remember, if you want to run a successful coaching business, you must invest in yourself. Forty-six percent of clients find their coaches through referrals and word of mouth, meaning you’ll need others to share the value of your coaching.
As your clients do well, they will refer their connections to you so your business can grow. And since most coaching relationships last one year or less, referrals will help you continue to be successful.
Training, education, and certification in your field add credentials to your coaching business but should not be the only training you engage in.
Many coaches hire their own coaches or take courses to help them with leadership training, communication skills, business and marketing, entrepreneurship, social media tips and tricks, email marketing, sales funnels, and more. (My Passion to Profit course can help with many of these areas!)
If you’re still hesitant about becoming a coach, here are some great reasons not to wait any longer to pursue your dreams!
Low Overhead Costs
Now is a great time to get started because coaching has low overhead costs. You simply need a working laptop and mobile phone to begin. Since you’re reading this article, I know you have the desire!
Social media and Pinterest make it super simple to promote your services for free or for minimal ad fees. With online coaching and video calls, you can get started immediately since you can reach clients easily.
You could also begin by coaching part-time or as a side job, working your way from employee to entrepreneur.
Many people are searching for guidance in both life and career. And coaching is becoming more and more popular as people discover its amazing benefits.
Finally, there are endless opportunities for you to explore until you find your niche. So start exploring and building your clientele now!
You may start as a coach and then move on to write books, speak at events, create online courses or membership programs, and so much more. Coaching is a career that can easily create multiple streams of income–including passive income–which will help your business grow and succeed.
Coaching is also incredibly rewarding. And no matter your interests, you can likely build a coaching career around them. When coaching, you can be passionate about your job while helping others grow. And at the end of the day, you’ll be able to honestly say, “I absolutely love what I do!”
How many careers can compete with that? Whether you’re just starting as a coach or want to elevate your skills, join The Coach School waitlist. Get the right tools to build your coaching business and find the perfect rate to charge with our quiz.