How to become a Career Coach for Profit

A career coach could be simply defined your job seeking partner. A career coach could be a career management coach, who helps you in managing your career or a career marketing coach, who helps you build contacts, posts your resumes, tries to find the best jobs for you and helps you secure the best jobs. He basically tries to market you effectively in the job market.

Investment:
Start-up costs could be around $3000 with website hosting, a computer and other promotional materials included.

Financing sources:

Banks are forefront in providing start up loans

Business loans from the government

Business organizations which will consider your initiative and possibly give you start up loans.

Loans from government sponsored self employment programs are helpful to start up as well as develop your skills as a career coach.

Loans from venture capitalists and angel investors are also effective. Both will help you financially but expect a higher rate of return. The angel investor is personally interested in the growth of your business.

Pricing guidelines for service:
In today's competitive job market, you have to price your service effectively be it career marketing or career management. Career coaches bill by the hour. Charges range from $50 to $200 an hour with an average of $100-150.

Advertising and Marketing Methods and Tips:

You can advertise in regional or national newspapers and even post ads in colleges and universities.

You could promote your 'career coaching' in social clubs, parties, get-togethers.

You could print and distribute your business cards.

You could write and distribute press releases locally or online which could include stories with ideas and advice which have worked for students and people in general with their career problems.

Equipment needed:
Typical home personal computer with database software, word processing software and access to research sites through internet.

Income potential:
Billing at the average of $100 per hour, working part-time you would earn from $8,000 and up. Full-time would be from $16,000 and up if you charged the industry average of $100 per hour.

Target market:
There is a big market where there are a lot of people who are at a crossroads in their career. There are lot of teenagers and young people who make wrong career decisions without introspecting themselves and making a decision based on peer pressure and the 'trends' in the job market. A person who changes his or her career goals for whatever reason and is now uncertain about the ways to achieve success in that field, would need the services of a career coach. There are a lot of people who need support and motivation at every stage of their career be it an interview or during a promotion. Job search is a billion dollar industry.

Success tips:
There are a lot of career coaches out there. To be different, upgrade your skills and focus on the entire personality development of the student or the person seeking career coaching. Groom him or her in etiquette, presentation and communication skills as well. Even if you charge a little bit extra, the person seeking your help will hugely benefit from your invaluable guidance.

Randy has dozens of home based business articles such as Best Home Based Businesses and Batting Cages Business. Also has a blog: Profitable Home Businesses.