Community Training And Mentorship Business

How Profitable Is A Community Training And Mentorship Business? (Updated for 2024)

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Updated: October 8th, 2024

How Profitable Is A Community Training And Mentorship Business? (Updated for 2024)

So you want to start a community training and mentorship business?

And the first question that came to your mind was, “well, are community training and mentorship businesses actually profitable?”

With a market size of $15B - there’s plenty of business to go around.

Especially considering:

You could start a community training and mentorship business with as low as $250
Based on our data, community training and mentorship businesses generate an average of $256K per year
You could see gross margins as high as 96% with community training and mentorship businesses

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a community training and mentorship business.

Let’s dive in!

Is a community training and mentorship business profitable?

Yes, a community training and mentorship business is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $256K per year with an estimated gross margin of 90%, you could expect to recover your investment within 7 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your community training and mentorship business.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your community training and mentorship business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a community training and mentorship business worth it?

If you’re wondering if a community training and mentorship business is worth it, the answer is a big YES. With community training and mentorship businesses, you have the potential to earn $256K per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $15B, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a community training and mentorship business to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful community training and mentorship businesses case studies.

Examples Of Profitable Community Training And Mentorship Businesses

Here are a few examples of profitable community training and mentorship businesses, and a few more details about them:

1. World Renowned Coaching & Consulting ($576K/year)

Neal Oates, Jr. identified a growing demand for coaching and consulting services in the real estate sector and launched World Renowned Coaching and Consulting in 2022. By leveraging his luxury real estate experience, Neal turned his business into a $48,000/month enterprise that serves nine different industries.

Is it profitable? Yes
What's the gross margin? 96%
How much money it makes: $576K/year
How much did it cost to start: $1.2K

My Coaching Business Makes $48K/Month With 96% Profit

Case study about the founder building a successful coaching and consulting business generating $48,000 monthly, expanding from real estate to service-based businesses in nine industries, with growth for three consecutive quarters.

Read this case study

Read by 1,050 founders

2. Sarah Stewart ($54K/year)

Sarah Stewart transitioned from a 14-year corporate career in the pharmaceutical industry to become a time management coach after a "lightbulb moment" on a Zoom call. Leveraging her project management skills and lived experiences, Sarah's business has served 121 customers and generated $150,000 in lifetime revenue.

Is it profitable? Yes
What's the gross margin? 75%
How much money it makes: $54K/year
How much did it cost to start: $2K

How I Built A Time Management Coaching Business To $150K

A time management coach and project management consultant shares how she transitioned from a corporate career to self-employment, built a successful coaching business, and launched a transformative program that has received rave reviews and changed lives.

Read this case study

Read by 2,205 founders

3. MentorCruise ($480K/year)

Dominic Monn came up with the idea for MentorCruise while facing the challenge of finding a mentor during his own career development. He realized that mentorship was a major problem for many professionals, so he built a coaching marketplace where career professionals could turn their knowledge into a marketable coaching business and mentees could easily find a mentor. Despite the challenges of building the platform while balancing his studies and a full-time job, MentorCruise now makes around $24,000 per month in commissions and processes over $120,000 every month for its mentors.

Is it profitable? Yes
What's the gross margin? 80%
How much money it makes: $480K/year
How much did it cost to start: $0

How I Built A $24K/Month Mentorship Marketplace

MentorCruise is a career coaching marketplace generating $24k MRR and processing $1M annually for mentors, with most traffic and sales coming from SEO and organic sources, currently looking to expand to the B2B market.

Read this case study

Read by 6,583 founders

Learn more about starting a community training and mentorship business:

Where to start?

-> How much does it cost to start a community training and mentorship business?
-> Pros and cons of a community training and mentorship business

Need inspiration?

-> Other community training and mentorship business success stories

Other resources

How much can you make with a community training and mentorship business?

With a community training and mentorship business, you can make an average of $256K revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $250. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.

How much does a community training and mentorship business make a week?

Based on our data, average weekly revenue for a community training and mentorship business ranges around $5.34K. As such, you could see monthly revenues of $21.4K.

To know if your community training and mentorship business achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your community training and mentorship business.

How much do community training and mentorship businesses owners make?

The income of a community training and mentorship business owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established community training and mentorship business is about $5.34K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a community training and mentorship business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Community Training And Mentorship Business Profit Margins

Generally speaking, a community training and mentorship business can expect profit margin of around 90%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a community training and mentorship business, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, community training and mentorship business owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, community training and mentorship business owners can ensure long-term sustainability and profitability for their business.

Community training and mentorship business owner salary

The salary of a community training and mentorship business owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established community training and mentorship business, in a prime position, might see an average weekly salary around the ballpark of $4.81K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a community training and mentorship business may be a promising business to start - but the success of your community training and mentorship business mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable community training and mentorship business.