Coaches, consultants, and course creators have worked extremely hard to achieve that valuable experience and specialized knowledge. They have driven relentlessly and motivated themselves deeply to share their expertise and to give a large, profound impact on the lives of individuals and business owners. These people also have the power to change lives, reshape businesses, and make an authentic, positive impact on the world around them.
Whether they are running a coaching business part-time or they have set out to pursue their passion for coaching, consulting, and business methods, the appetite for helping others reach their success is a “game changer” force.
Also, regardless of the product offered – a $1,000 online course, a full-capacity coaching business with multiple ones, or high-ticket coaching programs or master classes – all of these comes down to client enrollments in their coaching programs or services.
Here’s where coach financing comes in. after all, personal and corporate clients are the lifeline of the entire business. It would not matter if these masters have created a transformational 60-hour online video course or if a 100% proven marketing funnel works wonders for businesses if they are unable to enroll clients.
Content creators – coaches, consultants, or product creators – may wear many hats in this business. Aside from constantly upgrading your skill and knowledge specialization, they often manage the entire show themselves. From managing the books and making sure they balance, the advertising, the ad creatives, web content, marketing strategies, video productions, and course creations down to enrollments, onboarding, customer service, and chasing payment (especially if they do in-house financing) become all too taxing not to mention juggling everything with their personal lives.
Coach financing can help creators of any niche and practice to enroll more clients by making their services and products affordable to more people.
Why Coach Financing Use Is Great for Affordable Payment Plans for High-Ticket Services and Products
Here are some ways coach financing services can help out coaches and creators in their businesses:
- Coach financing helps enroll more clients by offering newer, more affordable options for payment and it eliminates the price objection.
- Coach financing opens the door for coaches to create and offer high-ticket products and services.
- Coach financing allows coaches and creators to get away from in-house financing and chasing enrollees for payments.
- Coach financing helps clients not to resort to loan stacking or credit card stacking.
- Coach financing greatly impacts the bottom line by giving coaches their funds upfront and usually in full within 48 to 72 hours.
- Coach financing hands the coaches the opportunity to reach a broader scope audience with their message as more and more people are not able to afford their products and services.
- Coach financing opens the possibility of working with clients they would otherwise be unable to work with because of the client’s inability to secure financing by other methods. Coach financing can commonly tolerate those clients with more challenged credit scores – say, down to 580.
Old School Financing vs. New Coach Financing
For many years, coach financing services have been viewed as high-risk entities due to a lot of fly-by-night seminar companies and programs that would sweep towns, and sell high-ticket promises, only to move into other cities. The chargeback rates on coach financing in general during the seminar boom were extraordinarily high causing rates for clients to skyrocket as well as coaching fees to continuously increase.
Times have changed, though. The quality of the offered products and coaching added to the client’s ability to leave and read reviews for online coaching classes has enabled massive shifts in the industry in a quite pleasingly, positive way.
Fly-by-night high-ticket seminars are now a thing of the past. And in their wake, newer brand business entities have risen to place. This new breed of entrepreneurs stresses a big importance on their reputations as coaches or creators, our product and service quality-conscious, and are looking to build long-term investments around their passions.
Due to this shift in the profession, a lot of coach financing companies have met the ability to create their customized software solutions, integrating lending partners that give loan approvals to individuals that may have been denied otherwise. These coach financing companies were also able to obtain more loan approvals for high-ticket coaching and consulting services as opposed to individuals seeing approvals elsewhere in the past.
Coach financing services can keep financing fees low for coaches, and at the same time, they can ensure that customers receive the best possible rate. The best possible rates are dependent on their credit profile still.
Here’s a scenario to better picture things out:
Let’s say a coach is offering high-ticket sales with a coach financing program. The coach gets a customized landing page that the coach financing firm has created for him/her based on the coach’s branding and logo perhaps. The coach is now ready to refer clients to the coach financing program where they can apply for financing to afford the course or product.
When a coach comes across a potential client and proceeds with a great conversation about strategies finding out the client is the ideal client and the coach knows she can guarantee to achieve the results the client is looking for in her business.
But the discussions quickly turn a down path that has been familiar to the client. When the investment has been $10,000 to get admitted to the coaching class, the client just does not have the money yet.
The coach will know that by employing the services of coach financing companies, the $10,000 would have monthly payments somewhere between $246 and $278 every month, all depending on the client’s credit profile.
The potential client is informed that she could fund the coaching program, the projected payment per month, and for the client to take a look that what he/she would qualify for without having any significant impact on the credit score. The client may quickly agree and goes to the financing landing page the coach financing entity has provided the coach, and the rest will become history both for you and the customer. The coach now has a new client and will receive 100% of the funds (usually) upfront and in full.