Growth Coach CEO Dan MurphyWhile a poor economy has taken its toll on small businesses nationwide, one company has proven to be recession-resistant by helping other entrepreneurs recover from a depressed economy.
“We are the highest ranked and most affordable coaching franchise out there and we specialize in serving an immense marketplace, the 98 percent of all the businesses in existence that make less than $5 million in revenue and have fewer than 100 employees,” said Growth Coach Founder and CEO Daniel Murphy.
“Also, we serve two large and hot industries, both business and sales coaching, allowing our franchise owners to double their client and revenue potential.”
The Growth Coach offers franchise partners multiple revenue streams, focusing primarily on providing business and sales coaching to small business with its proprietary Strategic Mindset Coaching Process for both groups and one-on-one clients in person, via phone or on the web.
“We are the world’s largest provider of group coaching workshops,” Murphy said, adding that such coaching provides 70 percent of company revenues. “The workshop approach allows our franchise owners to leverage their time and maximize their earnings. Instead of settling for just one-to-one coaching, as so many do, they can coach a roomful of clients.”
“Groups of owners, groups of managers and groups of sales teams—those are the bread and butter of our franchisees.”
The Growth Coach offers six separate revenue streams to its franchise partners and guarantees services to clients of those franchisees. Its system is even used by CPAs who want to earn ongoing Continuing Professional Education credits.
The Growth Coach program has earned approval through the National Association of State Boards of Accountancy (NASBA) as a registered sponsor on the National Registry of CPE Sponsors to offer credit to more than 600,000 CPAs in the United States.
Founded in 2002 in Cincinnati, Growth Coach has been franchising for more than 10 years. The company’s goal is not only to improve the health of a client’s business but also their personal lives, by allowing them to work less, earn more and achieve balance between their professional life and home life.
Growth Coach is only one of the brands developed by Strategic Franchising Systems, founded by one of the nation’s leading franchisors, Gary D. Green. A member of the International Franchise Association (IFA), it is joined by Home Helpers, Caring Transitions and Fresh Coat as sister companies under the Strategic Franchising umbrella.
Murphy has been advising and coaching small business owners and their management and sales teams since 1985. He is a former CPA with Deloitte & Touche and worked for 10 years as a private small business coach before founding the Growth Coach franchise system.
He said there are some telltale signs that a business needs the company’s services, such as owners who are “working insane hours a week.”
“It’s when an owner is feeling overworked, overwhelmed and a prisoner to that business. It’s almost suffocating them. That’s absolutely when they need to reach out.”
The Growth Coach is primarily a home-based franchise system serving thousands of clients each year in more than 140 markets in North America and is now expanding internationally. This year, it was ranked the No. 1 business coaching/consulting franchise by Entrepreneur magazine and recognized as the “Best-of-the-Best” in that category.
Because the franchisees work with established businesses as opposed to startups, Murphy predicts continued long-term growth in revenues for Growth Coach as the economy improves.
“What we’re seeing in the last six to nine months, there is a boom now occurring,” he said. “Franchise sales are up dramatically.”
And new franchisees are finding demand for their services by adopting a company culture that emphasizes changing lives.
“By helping to improve a company, the owner and their teams, we in turn help improve the lives of employees, their families, customers, suppliers and vendors, and the community as a whole,” Murphy said. “The positive ripple effect from our coaching is significant, fulfilling and makes a huge difference in the communities in which the Growth Coach operates.”
The suggested Liquid Capital Required to become a franchisee is $32,000; overall initial investment estimates range from $52,000 to $81,900, including a franchise fee that ranges from $39,900 to $45,900.
Franchise candidates are not required to have formal coaching experience, but they need to “have a passion for business and for helping others,” Murphy said. The ideal franchisee has a background in consulting, training, sales and marketing, human resources, accounting/finance or related fields.
“We teach you how to think and act like an owner and successfully run this simple but high-margin business,” Murphy continued. “We provide pre-training preparation, five days of training in Cincinnati, and then ongoing training and support. Our franchise owners are assigned a six-figure veteran franchise owner as their personal mentor, and get ongoing coaching and accountability from the corporate office support staff.”
Monthly webinars/conference calls, best practices sharing, a marketing and sales help desk, regional/national meetings, and powerful intranet collaboration are also available to all franchisees.
In addition, a “90-Day Secrets to Success”program provides franchise owners with a step-by-step, day-by-day plan with strategies and tools to develop a supply of client referrals from CPAs, bankers, attorneys, financial planners, chamber of commerce leaders and other professionals in their markets.
The Growth Coaches of the Year also share their expertise with fellow franchisees on a rotating basis through a program called Go Givers.
“We’ve really become masters at peer-to-peer support unlike any other franchise I’ve ever seen,” Murphy said.