The former Manchester United winger is struggling to find his place in manager Liam Rosenior's system.
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But Cole is convinced by Garnacho's potential and told The Sun: "I’d love to coach Garnacho. He’s such a super-talented footballer.
“The sky‘s the limit. He could be anything, he really could.
“I’d love to go through his clips. There’s a few technical things he can do better from a coaching performance in both boxes.
“Because he’s not like an old-fashioned winger or a number 10, he’s a wing forward.
“There’s a massive scope if he puts himself in better positions.
“But I also think he might need a little arm around his shoulder and a little bit of maturity in terms of how to conduct yourself as a footballer.”