As we head into a recovery phase after the pandemic, many are considering the prospects of switching gears and trying something new. The only real way to start accumulating wealth is by going into business for yourself - but start-ups can be risky. A franchise like FocalPoint Business Coaching might be your ticket to financial stability and personal fulfillment.
According to statistics, business coaching has been an $11.6B industry just in 2021. The annualized market growth is somewhere around 1.2%, which means it is accelerating faster than the overall economy. The business coaching industry is the 9th ranked Educational Services industry and the 474th largest industry in the nation by market size. Factors driving the industry are a growing life cycle stage and an increasing number of households in the US making more than $100k.
Life coaching is currently the second-fastest growing industry around the globe and increasing annually 6.7%, with an estimate of nearly 8 million coaches presently practicing in the United States. And the demand for life coaches is anticipated to climb at a rate of almost 5.5%. The market value will reach $1.34 billion by the year 2022. 25% to 40% of Fortune 500 companies insist on executive coaching as part of their promotional opportunities for best performers and top earners.