If you are a coach do you need coaching premises? This may be a question you have asked yourself as you set up your coaching business so here are some pros and cons to help you decide whether it is worth your investment.
The obvious downside is the cost that this will add onto your business so you need to think carefully whether you will get a return for your money. Many people rush into renting premises only to find that they do not have the revenue to cover this expense.
So you first need to ask yourself ‘What is it that you will use an office or consulting room for – will it be for carrying out your coaching sessions or for carrying out the other aspects of your business i.e. admin, marketing, preparation?’ If you are coaching by telephone or at your clients’ premises then perhaps you don’t if you have space to work at home. And if your clients are geographically dispersed are they likely to travel to this one location?
However there are some significant advantages of having your own premises. Maybe if you have others in your house during working hours you need a quiet space in which to work. You need to think about the image you want to portray and an office may help you to appear more professional if you need to meet clients face to face. You also need to consider how relaxed your clients will feel if they are coming into your home.
Some coaches use coffee shops and hotel lobbies however you need to think about client confidentiality and whether your clients will feel comfortable having others within ear shot. I know I wouldn’t feel comfortable and think of how many of my own clients would have held back on their own openness if they were being coached in a public place.
If you need a place to coach that is professional and private but don’t want a long term commitment there are plenty of rooms in managed offices or hotels which you can hire by the day or even the hour. Of course the more flexibility you have the higher the cost per hour you will have to pay so you will have to build this into your rates. However this could be a practical solution when you first set up.
You could also use your own network of professional contacts and see who you know who has a room they would like to rent out to you when they are not using it – by doing them a favour you may get the room at a reasonable rate, the only downside being a possible lack of flexibility and availability.
So having your own coaching premises has some tremendous advantages giving you a distinct edge and maybe an advantage over your competitors but you do need to ensure that your costs are covered.