Coaching is in a similar place as hypnosis as far as society is concerned. There's no state licensure for it and (almost) no laws regulating it. Practitioners might be licensed therapists looking for new opportunities and a chance to make a living outside the managed-care system; they might be people who have spent years studying coaching specifically; they might be someone who took a weekend class on it ad hung out a shingle.

Ask 100 coaches what coaching is, and you'll get 100 different answers. I know some coaches that I'd work with in a minute, and I know some that I wouldn't touch with a ten-foot pole. If you're thinking about this, I'd just suggest talking to the particular coach you're interested in and asking him/her what coaching means to them, and ask them specifically what they do.