After his football career, owned a chain of oil change centers and worked for the Peters Township Recreation Department. In 1995, Banaszak became defensive coordinator of Washington & Jefferson College football team. He was promoted to head coach in 1999. He was fired from W&J after publicly exploring other coaching jobs. He left the college as the 3rd most winning coach in school history.
John Banaszak was hospitalized in Pittsburgh on April 23, 2009 in serious condition. It was first reported that he had suffered multiple aneurysms. That was later found to be incorrect and he may have suffered from an overdose of aspirin which was being taken for neck pain.