Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$600

$4,700

Equipment & Supply Expenses

$66

$700

Software Expenses

$150

$2,769

Advertising & Marketing Costs

$75

$5,036

Training & Education Expenses

$0

$850

Total Startup Costs

$1,265

$28,622

RallyPoint

rallypoint.com

37,251

Randstad RiseSmart

randstadrisesmart.com

189,642

Kori Burkholder

koriburkholder.com

333,430

Jody Michael Associates

jodymichael.com

495,737

IMPACT Group

impactgrouphr.com

641,266

The Barrett Group

careerchange.com

818,576

Executive Resume Writing Service

aneliteresume.com

952,042

Ama La Vida

alvcoaching.com

1,159,732

A.J. O’Connor Associates

ajoconnor.com

1,280,146

Career Benders

careerbenders.com

1,430,448

Allison Lancaster

allisonrlancaster.com

1,511,105

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Meaningful business connections

You never know who you will meet as a career transition coaching business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Career Transition Coaching Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Control of workload

With starting a career transition coaching business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Low margins

The gross margins for your career transition coaching business are typically around 35%, which can make it more challenging to incur new expenses and maintain profitability.

Stressful work

This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

High overhead expenses

With starting a career transition coaching business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.

Churn

In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.