example of a business plan for a life coach

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How To Write A Life Coaching Business Plan: 5 Templates

If you’re passionate about helping others fulfill their potential and reach new heights, life coaching could be a truly rewarding career for you.

This guide will show you how to create a coaching business plan that will help you turn your ideas into reality, so that you can start creating value and deliver real results to your life coaching clients.

5 Tips For Starting Your Life Coaching Business

Starting out as a life coach can seem like a big move, and there’s plenty to consider. For many experienced life coaches, it’s balancing the support, guidance, and coaching theory side of things business admin that can be a little tricky.

Maybe you see yourself more as a development professional than an entrepreneur, or perhaps you’ve helped others professionally but never quite had your own practice.

Regardless of where you are in the coaching game, here are some tips that can help you get started building a life coaching business of your own: [1]

• Decide on a clear, unique value offer. Life coaching is incredibly popular, and that’s not changing anytime soon. To distinguish yourself as a coach, think about the unique value you’ll create for your clients – what’s original about the results you can help them achieve, or how you help them get from A to B?
• Consider accreditation. The right life coaching certification can arm you with useful skills and knowledge in your field while boosting your credibility as a coach. There are plenty of qualifications available online for coaches, and you may find one that goes a long way to enhance your marketability.
• Set your business up, practically. Various states, regions, and countries have different systems for registering and starting an online coaching business. Make sure you allow time to collect or create all the coaching forms you’ll need to enroll and manage your clients.
• Develop or curate your coaching resources. To practice, you’ll need tools such as life coaching worksheets , lessons, exercises, videos (if you’re using them), and more. Create a database of all the coaching tools you’ll need so you know just where to find them when you land your first client!
• Create an online presence. Think about how you’ll reach out to clients, and prepare the things that will help you be discovered online. Some examples include a coaching website , social media profile, or listings in online coaching directories. A strategic way to approach this is by developing a marketing strategy, which covers all the ins and outs of how you’ll grow your visibility.

How To Write A Coaching Business Plan: 2 Examples

A coaching business plan should help you clarify why and how you’ll start and run your coaching practice, as well as the tools you’ll need to help others.

Creating a life coaching business plan might sound terrifying, don’t be put off. You can go into more detail if you prefer a comprehensive organizational roadmap, but your business plan should quite simply help you:

• Clarify your “Why” – What is the ultimate purpose of your business? What is your desired future vision for your practice and clients?
• Solidify your “How” – What are your coaching objectives/your mission? What approaches will you use to achieve them?
• Determine your “What” – Understand the interventions, tools, lessons, or solutions that will help you on your mission.

Depending on the depth of detail you’d like to go into, you can break your plan up into more or fewer sections.

The following two coaching business plan examples illustrate this.

Example 1: Lean Life Coaching Business Plan

A lean business plan is ideal for explaining your coaching practice succinctly, or if you’re planning a small coaching business.

Using this USA Small Business Administration sample as a guide, your lean coaching plan might include the following headings: [2]

• Business identity
• Target client
• Client pain points
• Your solution
• Your competition
• Revenue streams
• Marketing activities
• Team and their key roles, and

Lean coaching business plans can be particularly helpful if you’re keen to refine and enhance your business plan as you learn and gain experience.

Example 2: Life Coaching Business Plan Template

This life coaching business plan template from Profitable Venture is a more comprehensive example, starting with an executive summary and ending with a startup expenditure budget. [3]

SWOT and market analyses are used for an in-depth assessment of potential opportunities, threats, and rivals in the coaching industry.

3 Helpful Templates and Samples For Your Plan

Here are a few good examples of coaching business plans, including some extra sections you might want to include:

• 9 Steps to a Lean Life Coaching Business Plan from Coaching Online – this covers a few more sections such as your competition, marketing, and finances [4]
• Traditional Business Plan from the USA Small Business Administration – a traditional business plan that may work well for larger coaching practices [5]
• Business Plan Template for a Startup from Score.org – a 9-step template for new business owners. [6]

Creating A Business Plan For Your Online Coaching Business

Once you’ve decided on the most relevant format for your business plan, you’ll want to formalize it by writing it all down.

You will most likely be referring to it regularly, as you structure, run, manage, and grow your coaching practice, so it’s critical to keep your plan along with the rest of your business documents.

A quick, straightforward solution for most coaches is to create a digital business plan, as we’ve started to do below using Quenza:

Using Quenza’s Activity Builder , you can create custom sections for each element in your plan, as well as text boxes for all the information that will go into your tool.

This helps you store your plan in your coaching portal alongside your Client profiles, activities, and other coaching tools, so your plan is always near at hand as you start to build your business.

To create your own coaching business plan using Quenza’s Activity Builder, simply:

• Open and title a new Activity
• Create sections for each header of your plan, and
• Save your Activity to your Library when it’s done!

You can also print your plan as a PDF, or access and edit at any time on Quenza’s client app, as shown below:

There’s no right or wrong way to create a coaching business plan template, so don’t be afraid to add in headers or sections as your plan grows. As long as your plan takes you through each milestone of building and running your business, you’re on the right path to creating a successful, growing practice.

Best App and Software For Your Coaching Business

Quenza is a state-of-the-art solution for coaching professionals, regardless of where you are in the process of running your business.

Not only can you plan out your business as a first-time coach, but Quenza’s tools can help you deliver solutions, stay in touch with clients, and even market your business as you gain traction.

With Quenza’s features, for example, you can:

• Design, build, and deliver personal and group life coaching solutions
• Craft coaching programs, curricula, or entire e-courses from your existing tools
• Drip feed your solutions to coaching clients automatically, on a schedule
• Create and customize all your coaching contracts , coaching agreements, and feedback forms
• Collect and securely store all your clients’ data with Quenza’s HIPAA-compliant app and coaching platform
• Offer clients a centralized online coaching portal
• Stay in touch with and engage your clients throughout the course of your programs, using notifications, reminders, and multimedia,
• Track, monitor, and evaluate your clients’ progress in real-time, and
• Document your sessions with Quenza’s Client notes.

5 Unique Features Included in Quenza

We’ve already seen how important it is to carve out your niche as a life coach – and of course, you’re most efficient when you decide on your own workflow, processes, and style.

With Quenza’s custom features, you have all the flexibility you need to get creative with solutions and market yourself in a way that suits you.

For instance, you can make use of Quenza’s:

• Multilingual client app – to translate your own or your clients’ Quenza app into 16 different languages, and custom brand colors
• Group or private chat – to share feedback, reminders, or encouragement
• White label feature – to promote your brand by adding your logo to tools, forms, and programs
• Wheel of Life feature – to design personalized life Wheel of Life assessments , and
• Expansion Library – for customizing popular and evidence-based coaching exercises without starting from scratch!

Final Thoughts

These tips, templates, formats, and examples will help you craft a strategic business plan that can get your coaching practice up and running – even if you’ve never started a business in your life.

If you have a template of your own to share with your fellow coaches, do let us know in the comments below.

We hope this article was helpful. Don’t forget to start your 30-day, 1 dollar Quenza trial for all the tools you need to bring your business plan to life!

Quenza’s practitioner tools will help you craft and deliver powerful online coaching solutions from any connected device, and contains everything you need to run your life coaching practice digitally for brilliant client outcomes.

• ^ Truex, L. (2021). How to start a home-based coaching business. Retrieved from https://www.thebalancesmb.com/how-to-start-a-coaching-business-1794520
• ^ SBA.gov. (2021). Sample Lean Business Plan. Retrieved from https://www.sba.gov/sites/default/files/2017-12/Sample%20Lean%20Business%20Plan%20-%20Wooden%20Grain%20Toy%20Company.doc
• ^ Profitable Venture. (2021). Life Coaching Business Plan Template. Retrieved from https://www.profitableventure.com/life-coaching-business-plan/
• ^ Coaching-Online.org. (2021). 9 Steps to a Lean Life Coaching Business Plan. Retrieved from https://www.coaching-online.org/life-coach-business-plan/
• ^ SBA.gov. (2021). Write Your Business Plan. Retrieved from https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan
• ^ Score.org. (2020). Business Plan Template for a Startup Business. Retrieved from https://www.score.org/resource/business-plan-template-startup-business

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How to Start Your Life Coaching Business Plan & Template

Perhaps like many of us, you’re unsure where to start. Maybe you’re disillusioned by the lack of clear, actionable information available and have shelved your plans – for the moment, at least.

But don’t give in. Help is at hand.

This article introduces many of the answers to the question, “How do I start a life coaching business?”

In doing so, we borrow heavily from a book written by one of our founders at PositivePsychology.com, Seph Fontane Pennock, The 7 Pillars of a Profitable Practice . It is a great read and highly recommended; however, this article offers a powerful starting point regardless, with actionable points, a business plan, and a free template.

This Article Contains

How to start your life coaching business, 3 requirements for setting up your practice, crafting your business model plan: a template, how to market and advertise your coaching business, 10 best names for coaching practices, building and promoting an online coaching business.

• 10+ Software & Forms to Use in Your Practice

A Take-Home Message

Life coaching can have far-reaching and diverse positive impacts on clients’ lives (Clutterbuck et al., 2016).

Many of us have toyed with the idea of starting a life coaching business, helping people change health-related behavior, improve wellness, boost their careers, and strive for personal goals (Karmali et al., 2020; Mann et al., 2022).

You most likely feel you have something to give: highly transferable skills learned from harsh life lessons and/or expertise in psychology, learning, leadership, self-development, and communication.

Or perhaps you are simply great at making people feel so empowered that they stop being “stuck” and take the bold steps to overcome obstacles holding them back.

Whatever your reason and motivation, we will help you get there, and the best place to begin is right here.

Begin at the beginning!

We start by recognizing our barriers.

What’s stopping us? Most likely, it’s our mindset rather than something physical. The following beliefs are potential obstacles, blocking us before we even start:

• Fear of failure : We are afraid we will not succeed.
• Not enough time: “I would give it a try, but I simply don’t have enough time.”
• Self-doubt: Our lack of confidence sabotages our entrepreneurial journey.

It’s not about ignoring the fear or letting it determine how we act; it’s about accepting it as an inherent part of our journey.

Accept fear as part of your journey.

Next, evaluate your existing time commitments. Prioritize your current tasks, dropping some of the nonessentials, and plan to set aside time to start your life coaching business. This is something you’ve dreamed of doing and aligns with your bigger life goals.

There will always be things to do, but by changing your mindset and prioritizing this dream, you will find the time to make it a reality.

Everyone has 24 hours in a day. What will you accomplish with yours?

Finally, recognize your feelings of self-doubt but don’t let them control you. Reflect on some of your past successes and reach out to those closest to you for their support, encouragement, and practical advice.

We’d like to share a great article with you that can help, as it includes tips for increasing your self-confidence. Have a look at What Is Self-Confidence? (+9 Proven Ways to Increase It) .

To build confidence, you have to practice confidence.

If we don’t start, we will never know

Now that we have faced our barriers and established a healthier relationship with them, it’s time to step outside our comfort zone and start the journey.

Who is our dream client?

We can’t be great at everything, so we need to narrow our focus and reach and find an authentic niche.

For example, perhaps you enjoy helping people in the workplace . So, maybe your dream client has worked for several years but now feels stuck in their career. They need help to reevaluate where they are, where they want to go, and how to change their mindset to move toward a more fulfilling career.

Once we’ve defined our ideal client, we can consider each of Seph’s seven pillars for starting and growing a coaching practice sustainably:

• Pillar #1 – Promise We need to be able to make a pledge to our dream client. The five Ps will help: People : Who are we helping? Place : Where are we helping them? Problem : What are we helping them solve? Product : What will we use to do this? Price : What will we charge to do it?
• Pillar #2 – Leads We need to attract more of the right sort of clients (ideally, they will contact us). We must think about how our dream client will find us, perhaps via YouTube, a blog post, a personal website, or social media (think LinkedIn, Instagram, Facebook, etc.).
• Pillar #3 – Clients How will we convert leads into clients? It may involve screening out those who are not a good fit for our services (depending on our coaching philosophy ) and following up quickly with compatible ones.
• Pillar #4 – Traffic Reducing the legwork associated with finding leads is crucial; ultimately, it gives us more time to help others.
• Pillar #5 – Retention Attracting and converting new leads is vital, yet so is holding on to existing clients. What potential offers can we share with existing clients to maintain (or boost) engagement?
• Pillar #6 – Products How can we generate more income without spending extra time? It might include offering group coaching sessions or additional training, downloadable PDFs, podcasts, or webinars.
• Pillar #7 – Team We can’t achieve everything alone. Over time, a successful coaching business may expand and include dedicated staff performing those administrative activities that take our time away from coaching.

What is the best platform for a life coaching business?

Traditionally, life coaching was practiced face to face and involved a great deal of manual administration behind the scenes.

Thankfully, new technology and online platforms mean we can perform coaching remotely through video calls and set up meetings, share activities, and exercises, and take notes online (Ribbers & Waringa, 2015; Kanatouri, 2020).

Our very own Quenza has been designed by and for coaches, counselors, and therapists, and that is why we believe it is the best coaching platform out there. It allows life coaches to focus on client needs, goals, and overcoming challenges and is a scalable solution for a growing business.

Do you need a business license?

You do not need specific qualifications to set up as a life coach, but accreditation can boost potential clients’ confidence in your abilities.

However, obtaining a business license is required in some locations to provide life coaching services legally. If you’re unsure whether you need a license, check with your local government agencies or consult a lawyer or accountant familiar with your jurisdiction (Lumia, 2022; Blackbyrn, 2023).

3 Best life coaching certification programs

There are many life coaching courses available. However, the International Coaching Federation (ICF) is the world’s best-known and respected coaching program certifier.

We list three of our favorite life coaching certification programs, but many others exist.

Spend time researching the one that best matches your coaching plans, availability, and budget.

• Coaching Out of the Box This fast track to ICF certification can help turn your dream of starting a life coaching business into a reality. It includes group and one-to-one coaching and certification and supports individuals as they obtain documented coaching experience.
• Barefoot Coaching This ICF and university-accredited coach training offers online coaching expertise to develop the coaching skills required as a life coach, HR professional, or business leader.
• Life Purpose Institute The institute offers the coaching tools and marketing expertise to build a life coaching practice plus the training hours required to get ICF credentials. The number of students in online courses is limited, and students can learn the skills needed to coach individuals, groups, and workshops.

For further training opportunities, see our articles, 19 Best Coaching Training Institutes and Programs and 8 Best ICF Coaching Certification Programs and Courses .

A life coaching business plan doesn’t need to be complicated and must remain current, capturing the key actions and challenges.

Use the Life Coaching Business Model Plan or one of our templates from our How to Write a Life Coaching Business Plan: 5 Templates article to create an initial plan.

In this example, we target people who feel stuck in their career or their life (or both).

Business identity

What is the business called? “Clarity Life Coaching”

Target client

Our target clients are individuals who feel stuck, lost, or uncertain in their personal or professional lives. We focus on mid-career individuals or those experiencing significant life changes, such as divorce or career transitions.

Client pain points

Our clients struggle with a lack of direction, feel overwhelmed, and lack clarity about their goals and values. They may feel stuck in unfulfilling jobs or relationships and experience high stress or anxiety.

Your solution

Clarity Life Coaching provides personalized coaching services to help individuals clarify their values, goals, and priorities. Our coaching process helps clients identify their strengths and areas for improvement, develop a plan to achieve their goals, and overcome obstacles that may stand in their way. We use various coaching techniques , including goal setting, visualization, and Cognitive-Behavioral Therapy.

Your competition

Several life coaching businesses in the local area provide similar services, but our unique approach and personalized coaching services set us apart from the competition. We focus on a highly customized coaching experience tailored to each client’s needs.

Revenue streams

Our revenue streams include one-on-one coaching sessions, group coaching sessions, and workshops on topics such as goal setting and stress management.

Marketing activities

We use online advertising, social media marketing, and partnerships with local businesses and community organizations. We will also attend local events and conferences to promote our services and network with potential clients.

Existing and future expenses include rent for our coaching space, coaching materials, advertising and marketing costs, and attending events and conferences.

Team and their key roles

The team will consist of one life coach responsible for providing coaching services, managing client relationships, and handling administrative tasks such as scheduling and billing.

Initial thoughts on milestones include:

• Launching the business and securing our first clients within the first three months
• Expanding our client base by 25% within the first year
• Increasing revenue by 35% within the first year
• Hosting a successful workshop or seminar within the first six months of operation

Help mid-career individuals gain clarity and direction and achieve their personal and professional goals.

Your plan will evolve and should be revisited regularly to grow and manage your life coaching practice.

For many of us, marketing and advertising can fill us with fear – an unknown and confusing process.

So here are a few valuable pointers drawn from Seph’s The 7 Pillars of a Profitable Practice and Steve Chandler’s book How to Get Clients: New Pathways to Coaching Prosperity .

Your coaching website should be like a funnel

• When your visitor arrives on your website, they should:
• Know which problem you can help them solve or which goal you can help them achieve.
• Find clear evidence of your successful track record.
• Be confident in your abilities and experience.
• Be provided with some upfront value (perhaps a free e-book).
• Do not overcomplicate the website. Consider removing unnecessary content. The goal is for traffic to arrive as visitors and leave as leads (or sales).
• Make use of a call-to-action, either:
• Offer a giveaway in exchange for their name and email.
• Allow them to sign up for their first (complimentary) coaching session.

Productive conversations

Productive conversations and creating relationships lead to new clients.

• Make sure that you follow up on discussions promptly.
• After an initial chat, ask the potential client to complete a prequalification survey.
• Don’t leave them wondering. Tell them when they will receive a follow-up email.
• Don’t be needy (even if you would like their business).
• Be aware that the client will remember how you made them feel rather than precisely what you said.
• Talk less about yourself and your coaching and listen more to their problems.

Online writing

Writing for a personal blog or elsewhere can increase your reach, get you in front of clients, and help others take you seriously. But remember:

• Aim for quality over quantity – you are targeting the right kind of traffic.
• Change your mindset from “How do I find more clients?” to “How do my dream clients find me?”
• Know what people are looking for and create resources on that topic.
• Earned reach is the organic attention that you receive. Perhaps you got a mention in a podcast or on a news website. Paid reach has a cost, such as Facebook and Instagram ads or using the Google Ads Platform. Consider both.
• If you post on your website, consider your owned reach. You should appear in the search results, so get to know which keywords people are searching for when they look for help.

In The 7 Pillars of a Profitable Practice , Seph covers in more detail how to rank for keywords and create a content marketing plan that includes platforms with active audiences, such as:

• The Huffington Post
• Entrepreneur

Ultimately, your goal is for people with problems to find you so that you can help meet their needs.

Finding the right name for your coaching business is not easy. Too obvious, and it is either likely to be already taken or so bland that it will not be memorable.

One approach involves using AI to create life coaching business names . Use it or your own research to consider and evolve potential names, thinking about:

• The customers’ first impression
• The identity and brand of your business
• The type of customer you wish to attract
• How memorable the name is (and for the right reasons)
• Whether the name is already being used

Here are 10 names to start you off:

• Coaching for Success
• The Successful Living Academy
• Evolve Coaching
• Courage Coaching
• The Breakthrough Coach
• The Change Academy
• Coaching for Vitality
• Abundant Life Coaching
• Positive Change Coaching
• The Courage Academy

The following articles offer more suggestions regarding how to build and promote an online coaching business.

• How to Get Clients for Life Coaching [5 Strategies] provides more information and guidance on nailing your business’s value proposition, marketing funnel, and online and offline strategies.
• How to Start an Online Coaching Business: Step-by-Step Plan is a practical guide for building a successful and profitable business.
• How to Start a Life Coaching Business From Scratch explores what you will need and your first moves to becoming an online coach.

10+ Software & Forms to Use in Your Practice

There are several online platforms for coaching, many of which are introduced in the article 12 Best Online Coaching Platforms & Tools .

PositivePsychology.com’s dedicated coaching software Quenza is compelling and unique because it:

• Is extraordinarily user friendly and intuitive
• Uses the latest SSL encryption to store client results to ensure HIPAA and GDPR compliance
• Is highly scalable, growing with your business
• Stores forms as customizable templates
• Securely delivers exercises and forms to clients
• Enables form completion on mobile, tablet, or desktop
• Nudges clients when they need a reminder to do something

In How to Send & Build Counseling Client Intake Forms Digitally , we explore how to create and share online forms using the Quenza platform.

Next, our two articles, Coaching Forms Toolbox: 17 Templates for Your Sessions and How to Create Feedback Forms: 3 Templates + Best Online Tool , explain how forms can be created from scratch, copied, or modified within the tool.

We suggest using the following forms:

• Pre-coaching questionnaire
• A self-contract to encourage client accountability
• Life domain satisfaction questionnaire
• Strength interview form
• Session rating scale
• Coach evaluation form
• End of therapy evaluation

Many other templates exist, including ones for visualization, mindfulness, goal setting, and benefit finding.

Fear, time constraints, and self-doubt can hold us back from starting a life coaching business. Learning to accept our barriers and shift our focus from ourselves to our clients can dramatically improve our chances of success.

Learning from the experiences of successful business owners like Seph Fontane Pennock can provide valuable insights and help us create a profitable and impactful practice.

You most likely feel like you have something to give to your dream clients. You wish to create an opportunity for positive change in their lives while delivering on a personal vision for a life coaching practice.

Creating a clear and achievable business plan can be simple and will help you find your ideal clients and offer them a path to setting and striving toward their goals.

Having read this article and been inspired to start your life coaching business, why not look at The 7 Pillars of a Profitable Practice and use the many lessons Seph learned along his journey to inform your business plans and give your clients their best chance of success?

• Blackbyrn, S. (2023, February 17). Does a life coach need a business license? Coach Foundation. Retrieved April 20, 2023, from https://coachfoundation.com/blog/life-coach-business-license/.
• Clutterbuck, D., David, S. A., & Megginson, D. (Eds.). (2016). Beyond goals: Effective strategies for coaching and mentoring.  Routledge.
• Lumia. (2022, August 4). Does a life coach need a business license and insurance? Lumia. Retrieved April 20, 2023, from https://www.lumiacoaching.com/blog/does-a-life-coach-need-a-business-license.
• Kanatouri, S. (2020). The digital coach . Routledge.
• Karmali, S., Battram, D. S., Burke, S. M., Cramp, A., Mantler, T., Morrow, D., Ng, V., Pearson, E. S., Petrella, R., Tucker, P., & Irwin, J. D. (2020). Clients’ and coaches’ perspectives of a life coaching intervention for parents with overweight/obesity. International Journal of Evidence Based Coaching and Mentoring , 18 (2), 115–132.
• Mann, A., Leigh Fainstad, T., Shah, P., Dieujuste, N., & Jones, C. D. (2022). “It’s nice to know I’m not alone”: The impact of an online life coaching program on wellness in graduate medical education: A qualitative analysis. A cademic Medicine , 97 (11S), S166–S166.
• Ribbers, A., & Waringa, A. (2015). E-coaching: Theory and practice for a new online approach to coaching . Routledge.

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What Are The Types of Business Plans?

There are two primary business plan categories: traditional business plans and lean start-up business plans . Traditional business plans are lengthy, detailed, and more common. In this post, we will focus on the traditional business plan.

A lean start-up business plan is a quick summary of all your business ideas and often covers only one page. It is usually presented in the form of illustrations, such as charts, graphs, and tables, for easy perusal. In addition, lean business plans are easier to amend because of their brief nature.

Neither business plan is superior to the other. In deciding which to use, you’ll have to examine your business needs first. Whichever one you choose to go with, what matters is ensuring your business plan is concise, easy to understand, and fact-based. 

What Do You Do Before Writing a Business Plan for Life Coaches?

The answer? RESEARCH.

You would hear from business coaches about the importance of research to assess possible strengths and opportunities as well as weaknesses and threats (SWOT) before embarking on a business venture, and they would be right. 

Your coaching business may be similar to another. However, it would still require its SWOT analysis to identify what sets your coaching products and services apart from others, create strategies for business growth, and avoid hassles later down the line.

I recommend that the outcome of your research addresses and answers the following questions:

• What type of coaching practice do I want? Your coaching practice is a business, so you should run it as one. Therefore, setting up a legal structure for your company is essential. It is also crucial to pinpoint the right coaching style for your new business to make planning smoother.
• What is my niche? Knowing my target niche clarifies the path I’d follow toward business success. It also sets the stage for determining my business and marketing strategy. 
• What solutions am I offering? The products and services you offer should solve your ideal client's problems. That’s the only surefire way to get new clients and build a solid portfolio.
• What steps must I follow to grow the business?  Your research must help determine the steps you’d take to expand your life coaching practice.
• Is my coaching business client-focused? It’s common to have a business plan focusing on the owner and what it plans to accomplish. However, it is better to create a business plan focusing more on the client and the benefits they would be getting. Your clients become return clients who cost less to keep, spend more and market your business better on your behalf.
• How will I finance my coaching business? If, like many others, you’re starting your business with limited funds, you’d have to clearly state how you intend to finance your business, especially during the early stages until it begins to profit. 

Ok, so we’ve done our research, and we’ve been able to detect what we can excel at, where we thought wrong, and areas we can improve upon based on our initial guesses. We can now decide if we can proceed with the business or return to the drawing board.

If we’re ready to roll, it’s time to write our business plan.

Life Coach Business Plan Template

If you’re just starting, you could make a simple business plan using the template below. Then, as time goes by, you could expand each section to make it more robust. This template outlines every vital aspect of your coaching business. 

• Mission statement
• Overview of business
• Business contact information
• Target market
• Coaching niche
• Unique selling point
• Short-term and Long-term goals
•  Strategic objectives
• Tactical plans
• Products and services you offer 
• Product differentiation
•  Benefits to your clients
• SWOT analysis
• Target market valuation
• Market trends
• Profile of competitors
• Competitive advantage      
• Pricing model
• Marketing Strategy
• Marketing platforms
• Advertising and promotion
• Sales strategy
• Distribution channels
• Organizational charts
• Training and development
• Procurement
• General operations
• Source of funding
• Key assumptions
• Profit and loss accounts
• Balance sheet
• Cashflow projections

With this template, you can remain focused on building your business rather than chasing every shiny object you see or hear about, as is the case with entrepreneurs without proper business plans.

Now, let’s take each section at a time.

How To Write a Life Coach Business Plan (Step-By-Step)

1.      Executive Summary

Think of the executive summary as a way of introducing your business to a potential client, lender, or the general public. Therefore, it should include what you do as a business, how you do it, who you do it for, and what value you provide. You should try to keep your executive summary concise at one to two pages maximum. 

It may be easier for you to write the executive summary after completing other sections because you would have highlighted notable points throughout the plan.

2.      Company description

As the section already states, I would describe my coaching business in detail and include the following:

• My registered business name
• Address and contact information
• Legal business structure
• Executives or directors (if any)
• My coaching niche 
• Who my target market is
• My unique selling point

I would also be sure to point out what sets my coaching business apart from the competition and how my company maximizes its opportunities.

3.      Goals and Objectives

What are your business goals? 

This section will state my short-term and long-term goals and the tactical steps my coaching business will take to reach those goals. For instance, if I plan to make X amount in annual revenue by a specified year, I would provide a realistic, research-based breakdown of how I’d reach that goal.

By providing a breakdown of how I’d accomplish my goals, I’d also be generating trust and confidence in the minds of potential investors or lenders about my business if I intend to seek funding.

4.      Products and Services

In this section, you’ll describe your business's products or services to your target market. These would not be limited to coaching packages, coaching subscriptions, masterclasses, courses, books , etc.

Give a detailed description of each product or service you will offer. Explain how your goods and services are different from or better than your competitors’ offers on the market, and don’t forget to include your pricing model. You would also clearly state the benefits your target market gains by using your products and services.

5.      Market Analysis

Here, you would analyze the coaching industry in which you plan to do business during your research phase before writing the business plan. A comprehensive analysis of the industry would provide valuable information such as:

a.         Results from SWOT analysis

b.         Target market valuation

c.         Market trends

d.         Profile of your competitors

e.         Competitive advantage for your coaching business

f.          Benefits your clients stand to gain

Explain in-depth what prompted your decision to set up your coaching business within that sector and what your competitors are doing. You should also explain how you can improve upon what they aren’t doing well enough to enhance your bottom line but, more importantly, deliver value to your clients.

6.      Marketing and Sales Strategy

Having a fantastic product that creates admirable transformations in clients is one thing. It’s another thing to publicize enough to reach those clients. Your marketing and sales strategy is supposed to convince your clients that your products will provide the solutions they seek.

First, you´ll develop a marketing budget to meet your spending needs. You’d also write a detailed plan for marketing and advertising your products and services to your target market. Which channels would you use?

• E-mail marketing
• Search Engine Optimization
• Social media marketing
• Search Engine Marketing
• Print materials
• Networking,  e.t.c.

Earlier, I mentioned the importance of having repeat clients because they are some of the best and cheapest marketing tools for your business, so it is crucial to know how to sell your coaching services . In this section, you’ll explain your strategy for turning your clients into repeat clients and building customer loyalty. Be sure also to include your sales strategies. For example, which sales distribution channels will you use?

• Direct sales
• Sales representatives
• E-commerce channels

7.      Operations

In this section, I will discuss the day-to-day running of my coaching business. I will explain how I’d operate the business through employees, freelance workers, and business partnerships. I would include an organizational chart to illustrate the internal structure of my coaching business and how employees would contribute to the growth and success of the company.

I’d discuss in detail how I plan to staff my company and what salaries or wages I would pay my staff. I’d then enumerate the freelance workers I may hire, their roles, and their remuneration. I would then discuss my plans for staff and training development.

Finally, I’d give a clear plan for other general operations like procurement of materials and equipment required for the start-up of my coaching business. Such equipment may include video conferencing equipment, software, and personal computers. I would also note essential information about all suppliers and vendors with whom I work.

8.      Financial analysis and projections

As a new coaching business, I don’t expect you to be able to pluck out figures from past performance. However, I hope you would have done your research based on the coaching niche you plan to set up shop in. 

When you’ve done this, you should make financial plans and projections for a five-year periodhttps://costhack.com/business-plan-cost to begin with. Five-year plans give you enough room to meet and exceed SMART goals . You may refresh any goals you don’t meet in your five-year plan, if need be, and insert them into the following timeline until you achieve them.

It is important to note that this is the section every lender and investor is particularly interested in, so you must take extra care to be factual in your illustrations and realistic in your projections. If you’re seeking start-up funding, this is where you state it. Explain how you’ll use the investment and communicate the expected returns.

Don’t blow up figures to entice them because what you’d do is leave a wrong impression because they’d probably see through it. Instead, make your projections align with what your competitors are also achieving, and if you surpass those goals, great.

For an existing coaching business, you’ll want to include: 

• Financial statements
• Profit margins

I’ll advise you to speak to an accountant who will guide you better in putting all the required information together.

9.      Appendix

The appendix is where you put in any other necessary information that may not have fit anywhere else in the different sections of the business plan. These may be documents such as: 

1.    Certifications

2.    Your resume 

3.    Resumes of key team members

4.    Licenses

5.    Contracts

6.    Marketing materials e.t.c.

7.    Market research report

With the above guide, you’d have a well-written yet concise report to keep you on track and direct your business toward success.

You may wonder how long it’ll take to write a business plan. Ideally, it shouldn’t take more than a few months to complete the research and write the business plan. However, if you take longer than a few months may disrupt other vital activities in the start-up process.

Can I Hire Someone To Write My Life Coach Business Plan?

Ok, I get it. Life can get hectic. You’re being pulled from every angle and can’t find the time to write your business plan.

Fortunately, you can hire a professional business plan writer or consulting firm to provide the service. Professional business plan writers cost from $2,000 to upward of $20,000 to write a business plan for a small to medium size business. If hiring a writer instead of a firm, verify all credentials and portfolios to ensure they meet your needs.

If you decide to hire a consulting firm, it’ll cost you more. However, the upside is the breadth of expertise they offer. Other factors that may affect the plan's cost are the length, turn-around time, editing, review, and any additional support service.

I would advise putting together as much information as you can on your own before approaching a professional because you would have a better idea about how the plan is woven together. A professional would then develop a foolproof plan, especially one that captures investments if you’re seeking start-up funding. 

Common Business Plan Mistakes Life Coaches Must Avoid

Although I’ve mentioned some mistakes to avoid, I figured it was best to state them clearly. If you make mistakes while developing a business plan, they could jeopardize your business. Some of these mistakes to avoid are:

Inadequate research: Avoiding research or doing insufficient research before writing your business plan is a dangerous mistake you don’t want to make. If you still go ahead to write the plan, you may not identify all the risks involved. As a result, your coaching business plan may be based on non-factual information and lead to inaccurate projections, which you may never meet.

Overestimating your financial projections: Avoid padding up figures in your business plan to impress lenders and investors. Lenders and investors are experts and analyze financial information for a living, so injecting false estimates into your plan may make you lose those opportunities altogether.

Ignoring the competition: Knowing what your competition is doing gives you insight into exploiting areas they may be neglecting, thereby giving you a competitive advantage.

Not setting a target niche: This is a common mistake. Many new life coaches attempt to get any and every client and end up losing focus. Without setting a target niche, your business will have no direction. 

When your business has no direction, you can’t establish workable goals. In other words, you’d be everywhere and nowhere simultaneously. As a result, your business will not be operating optimally and may remain stagnant after a little while.

Ignoring future trends: Times change and economies evolve. Imagine you started your coaching business pre-internet and remained stuck in paper-based marketing after the arrival of the internet, social media, and email marketing. 

What do you think would happen?

That’s right. Your business won’t be able to keep up and will fold up in no time.

Creating unrealistic goals: This is also a mistake many people make. If you create unrealistic goals, there won’t be measurable targets to track your progress, and soon enough, you’ll stop taking action.

Establishing a rigid plan : A business plan that isn’t flexible enough to accommodate changes can also negatively impact the business. No life coach can predict the future of their business. There’ll be ups and downs. A flexible plan gives room for unforeseen changes without disrupting the long-term goal.

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This is exactly what I needed. I found you through Bing because Google is only showing results for PAID templates that take me through complicated funnels. Thank you for what you have provided!!

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• How To Make A Life Coach Business Plan (With Template)

If you are anything like me, you have been traditionally educated. So, unfortunately, a lot of times that means we sat through classes wondering when we would ever need XYZ in real life. Unless we have a specific roadmap, core content does not include business courses. 

And, we have spent all of this time getting certified to be life coaches so the last thing we want to do is invest more money into business courses just to learn how to be successful in our life coaching business.

So, I have compiled a quick frame of reference in the sections below to take away some of the guesswork, and give you some ideas that you can quickly and easily apply to your life coaching business plan to receive success sooner than later 😍.

Here’s everything you need to know to create a life coach business plan.

What Is Life Coaching

Life coaching is a type of wellness coaching that helps clients achieve a higher state of being. This can come in many forms, and there are many forms of life coaches as well. Overall, life coaches are significant because they help people explore within themselves, to identify their limitations/ things holding them back, and the answers for how to overcome those limits.

Those same elements are what makes life coaching different from other forms of coaching. As a life coach , you get to help people identify their personal and professional goals. Then, you get to help them create a course of action in order to help your clients reach the goals they have discussed with you.

The beauty here is that even after the conclusion of your time together, your client will be able to take the steps and principles learned with you to continue to improve elements of their lives. That is a very rewarding experience to have.

Why Every Life Coach Needs a Business Plan

A life coaching business requires more than just a good marketing plan. You also need a business plan , which includes a marketing strategy. The difference between the two, simply put, is:

• Business plans outline all of your big picture goals. Your current end game/ what you identify as what will be your definition of success right now. 
• Your marketing plan is how you are going to use marketing to achieve the goals you identify in your business plan.

Now, why would you as a life coach need a business plan? Having a life coaching business plan will help keep you accountable and authentic to your business and your life coaching clients.

How to Start Your Life Coaching Business

Before we get into the key components of a life coaching business plan, it’s helpful to understand the general steps to starting your life coaching business. That way, we can develop clear goals and direction at each step.

These are the steps to start your life coaching business:

• Become a life coach : get certified as a life coach through an International Coaching Federation (ICF) accredited course.
• While going through your life coaching certification course , work on gaining a following on no more than 2 social media platforms.
• If you are looking to specialize in a specific category of coaching such as business coaching, performance coaching, executive coaching, spiritual coaching, relationship coaching, career coaching, etc. you will need to further your education by taking a course that is specific to those areas.
• Get your brand together from the look you are going for to the color palette you like.
• Do a competitive analysis to help you niche down. EX: I am a relationship coach helping women in their golden years rediscover who they are on their own after a long term relationship ends.
• Develop your marketing strategy and marketing plan.
• Determine your personal and professional goals for your coaching business.
• Construct a product suite filled with free, low, medium, and high ticket offers.
• Put together your group coaching or one on one coaching packages and begin to talk about what your coaching practice can achieve. Be vocal about who your ideal clients are. Ideally, your ideal clients should be acknowledged in your social media bios.

5 Key Components of a Life Coaching Business Plan

Below are some examples of what you should include in your life coach business plan. Feel free to omit, or add any sections as needed for your coaching business. This is merely a look at life coach business plan examples to help your own life coaching business be successful.

1. Business Identity and Branding

Your business identity and branding need to appeal to your target market, yes. However, it needs to also stay true to who you are as a coach and an individual. If you do not stay true to yourself, it will become hard at some point to continue to deliver your message when attempting to speak to people based on what you THINK they want as opposed to what you know and can successfully deliver.

Your brand identity is how you present yourself to the public aka your followers and potential clients. Some things to consider:

• How do you dress?
• What colors do you like?
• Do you prefer luxury or the great outdoors? 
• Ocean or mountains?
• Spring or fall?

Overall, you want to ask yourself every possible question about how you present yourself so that you can consistently show up as yourself, and also offer your coaching services in a way that your target market will want.

Your branding is what distinguishes you from your competition. There are thousands of life coaches out there that help every niche imaginable, so your branding is what sets you apart from those other coaches.

The main question you should ask yourself is, how will people always know this is me ? Maybe that’s a logo, a specific color palette, a certain symbol. Think back to your brand identity and determine which of these branding methods would best work with your coaching practice, and your niche in order to best serve your online coaching business.

Again… consistency is key . The goal is for your audience to ALWAYS know it is you and once they notice it is you, your potential clients will always read your posts. Thus, leading to your successful life coaching business.

2. Defining Your Target Client

You can read more in-depth about this in how to get clients for life coaching , but there are 2 really important aspects worth mentioning.

2.1: You need to have a clear and specific niche.

If you say you help everyone, you are actually helping no one. 🔥 While you may actually be able to help everyone, you have to first help someone . Knowing who you help, how you help them, and what you will do to help them get results is paramount to your business plan. As you grow or move on from certain niches, you can always re-evaluate your niche and who you help. Your marketing strategy will also change with you.

2.2: Create a client avatar.

This will help you consider different facets of all kinds of people. It will help you decide where your clients are coming from and where they want to go. The better you know your client, the better you can meet them where they are and serve them better . Most often, coaching programs have their students do this within the first three modules or weeks of their coaching certification. But, if for some reason you did not do that… Here is a worksheet I created to help you. Simply, make a copy and fill it in according to your coaching services.

3. Addressing Client Pain Points

Your clients’ pain points are what kind of issues they are up against . These are the issues you help them work through as their life coach. Their pain points should also be what all of your content within your business plan are centered around. 

You should constantly be offering help and solutions for why they should work with you. Use that to let them know how you will help them move on from these issues.

Most often these pain points center around large concepts such as balance, freedom, clarity, mindset, inner peace, and confidence . Your job is to take the large concept that you help your clients achieve and break it down into smaller pain points that showcase the kinds of results you get your clients.

It will look something like this:

• pain point → results you get your clients = how you’re marketing your coaching services

For example:

• intense PMS symptoms → calmer menstrual cycles = menstrual cycle awareness coaching program

4. Your Unique Solution

Your unique solution is the HOW. HOW you get your clients the results they want. For instance, I have the RISE method in which I help my clients identify their higher selves versus where they are. We then RISE by developing an action plan and doing the identity work in order to step into our power and embody our higher self until we actually BECOME her.

Your method doesn’t have to have a fancy name, but it does need to be something catchy that people will remember. Then, every time you talk about that method, people will say, “Oh. I keep hearing about her RISE method. I wonder what that is.” This falls into the branding and identity mentioned earlier.

Remember : there are hundreds of coaches in your niche, but your clients are paying to work with YOU. They like your messaging. They like your HOW. They like YOU.

5. Analyzing Your Competition

When it comes to analyzing your competition, do not overwhelm yourself. Instead do this:

• I recommend choosing one with a large audience (10,000+ followers), a medium audience (5,000 followers), and small/ growing audience (less than 5,000 followers)
• What are they offering in each category? How much are they charging for their services in each category? What problem(s) are they solving?
• Anything else you find worth noting for the sake of market research
• Subscribe to their email list if they have one so you can stay up to date on their offers without having to do the digging again.
• The key here is not to compare yourself to or copy the other coaches, but more to know what problems other coaches with a like audience are solving and how they are helping their clients solve those problems.
• Take a look at your offers and determine how they are similar to and different from the research you just did.
• What is unique about their offers and who they are as a life coach/ their coaching method?
• What is unique about you and your own method? What problems do you solve?

By conducting this research, you are not only getting insight into the market and your target customers, but you are also getting clear about your messaging and how to use it to your advantage within your coaching business plan. You are also conducting a little customer analysis by looking at what kinds of problems your dream clients are looking to solve using a life coach. This research can also assist you in gaining a competitive advantage.

If you are needing some additional help finding your style, consider this 9 Day Find Your Style Yoga Challenge from Brett. Getting into the groove of finding your yoga style and coming back to your yoga practice will help you gain clarity for the hard answers regarding your uniqueness and style when it comes to branding methods.

Financial Aspects of Your Life Coaching Business Plan

While you can definitely utilize your individual profiles, shares, likes, comments, etc to drive traffic and convert sales, there are some money aspects of your life coaching business plan for you to consider as well.

Revenue Streams and Pricing

As previously mentioned, you should be using freebies, low ticket, mid- ticket, and high ticket sales strategy when it comes to your coaching business.

To break this pricing strategy down, consider:

• EX: if I want to make $50,000 in a year, that means I need to make $4,167 a month, $1,042 a week, and 148.81 per day
• To determine your numbers, take your goal income and divide it by 12 to get your monthly need, then divide that by 4 for your weekly need, and then that number should be divided by 7 for your daily need.
• freebie= entirely free (usually at the cost of giving an email address to an email list)
• low ticket= anything under $100
• mid- ticket= anything under $1,000
• high ticket= anything over $1,000

Use the two bullet points above to determine how to price each of your ticket items in order to meet your annual income goal.

Budgeting and Expenses

Using your financial projections from the above sections, you will now need to decide how much of that income will be used to pay expenses within your business. If any adjustments need to be made to your bottom line once you figure this part out, that’s okay. This is why you do your business planning on the front end. 😃

Some expenses to consider:

• Coaching website (read about the best blog platforms )
• Online course platforms , if you plan on using those (some website providers have this option built in for an additional cost as well)
• Management team, if you plan to have one
• Continuing education or growth plan for you as a coach and for your 
• Online advertising
• Other types of marketing costs include local events, networking events, chamber meetings, community organizations etc.
• Online business memberships
• Any other expense that could arise

While this list is not a full list of everything that could be an expense as a life coach, it is here to give you an idea of things to consider when it comes to both your operations plan and your life coaching business plan.

Brett has a really in-depth post about managing cash flow in a yoga business that could be helpful for you now.

Marketing and Promoting Your Life Coaching Business

Now that you have your financial plan and your expenses accounted for, it is time to create a life coaching business marketing plan .

Building an Effective Online Presence

While a website is not necessary, should you choose to use one make sure you include the following:

• NOTE: try using some search engine optimization (SEO) to see what specific phrases you can include in your about page specifically when it comes to talking about your coaching business to increase your rankings when people use a search engine to find a life coach.
• Testimonials from previous clients , even if they just did one session with you, or they were a beta client, include it. People want social proof, so anything anyone that has worked with you in any capacity has said… include it.
• Your offers , every single one of them. You never know where your clients are within their own journeys so listing your offers with a brief description of what is included and the end result is necessary.
• An option to join your email list , whether via pop up and/ or an option as a footer on the bottom of each page, you want to make sure there are multiple opportunities on your website for your target customers to join your email list.

Read this thorough search engine optimization guide to educate yourself on how to publish content strategically.

For social media:

• EX: I help bored women who know you are made for more step into your power, claim your purpose, and become your best self.
• Get your branding sorted for your coaching business, such as colors, vibe, and voice.
• Use your market research and competitor analysis to hone in on your messaging for your coaching business. Know exactly who you are talking to and WHY you are talking to them by constantly communicating the problems you solve and what those problems look like when manifested into the day to day life. Then, include how you help those problems go away.
• Do no post and ghost 👻 Simply posting to stories or your grid or profile will not do you any favors. As a life coach, you should set out 3-4 times a day for 10 minutes at a time to respond to any comments or DMs you get and also engage on other accounts as well. You are looking for visibility, so the more people you can get in front of the sooner your coaching business will get clients.
• Stay true to you and what your coaching business is. Do not make posts or stories around what you think people want to hear. Be authentic and always give the message that is both on brand for you and what YOU believe people NEED to hear.

If you have made it this far, and are still feeling uncertain and overwhelmed, head to Brett’s Yoga For Self Mastery course to see if that would be a good fit for you. She explores yoga as a tool for supporting you and your unique composition. Something like this can help you as a life coach and your coaching business by exploring your consciousness and what it is you bring to the table as a life coach and as a human.

Networking 

Your coaching business plan should include networking and relationship building of all kinds. As for networking, your coaching business plan should absolutely include collaborating with other coaches. This again should be something that showcases your life coaching services and gives people a feel of what it would be like to work with you.

Some options to consider are:

• Being an IG live or podcast guest for other coaches whether in your niche or not
• Doing a guest social media or blog post
• Doing an online course bonus for another coach’s program outside your niche, but that you are an expert on as it is relevant to their online course.
• Pretty much anything that gives you the opportunity to get in front of someone else’s audience

Building Client Relationships

Your life coaching services start in your online presence, like on social media or your website. This is where most people will “meet” you. So, whether you are giving service-level guidance in the comments, or offering support through the DMs, that is your life coaching services in action. Do not do free coaching, but just like your different levels of offers, there should be some level of coaching services taking place anytime you communicate with others in order to build credibility and social proof.

Your clients want to be heard. By demonstrating even a glimpse of your coaching services, your life coaching business plan is in play. By providing even minimal support, you will gain a following because your followers will know instantly that you walk your talk.

You are not chasing money, you are there for them. You are in it for the passion and the need to help others up-level.

Now, it’s time to put it all together in your life coaching business plan! Brett has a yoga business plan template that you can download right now to get some ideas about what to put in yours.

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Common Questions About Life Coaching Business

How profitable is a life coaching business.

Grand View Research put out a study that says that the life coaching industry is expected to grow at least 4% from now until 2030. Life coaching has been on the rise for some time, and it is present and needed in all states.

On average, life coaches make about $5,000 per month. You can read more in depth on this topic by reading my previous post, How Much Does A Life Coach Make .

Is it profitable to be a life coach?

Depending on your niche, audience, results, and the life coaching services you offer, it can be very profitable to be a life coach.

According to an article on the U.S. Bureau of Labor Statistics website written by Kathleen Green, The national average salary for a life coach is $61,900 with the mid- range of that salary being $36,200 in the United States.

Do life coaches need a business plan?

Life coaching should be treated just like any other business. Even if it is just you on your “staff”, you should have a life coach business plan.

A life coaching business plan will help you:

• stay focused
• set and reach attainable goals
• stay organized
• stay on budget/ create budget
• have a social media plan
• connect with other coaching businesses
• a wide variety of other management items as well depending on how in depth you choose to make your business plan.

Final Thoughts

Your business does not have to be anything super elaborate. You will add more detail and take away items as you begin to find your groove, get clients, and achieve results. Your coaching practice and the direction you want to take it should help guide your business plan in order to assist in your own desires to come to fruition.

Whether you offer group coaching sessions, online courses, attend local events, provide coaching resources, or simply stick with 1:1 coaching, having a business plan is necessary.

As someone that started their life coaching without a business plan, I can tell you that it is not worth the headache of not knowing your expenses, and having to start using personal savings to support my business on the front end because I was too stubborn to create one.

Have fun and be creative. Approach your life coach business plan the same way you would approach a client. It merely serves as a guide that can be molded and adapted as your business begins to adapt and mold into shape. Don’t take it too seriously when creating it, and always remember that you are ultimately in charge of your own business.

About the Author | Ashlie Franey

Ashlie Franey is a Woman Rising. She is a Higher Self & Identity Coach helping women to bridge the gap from their current selves to their future selves. Using her RISE method, her clients learn to step into their power & begin to fully embody the woman they want to be.

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How to Craft your coaching business plan in 7 simple Steps (+ FREE Template)

September 24, 2023

June 4, 2024

Are you eager to launch your coaching business but feeling overwhelmed about where to start?

You’re not alone! 

In this article, I’ll help you understand what a coaching business plan involves. I’ll provide you with a coaching business plan template and also teach you how to shape it so that it mirrors your vision and goals. I’ll walk you through every step to ensure you create a successful coaching business plan tailored to your niche.

Let’s dive into the world of business planning, where clarity meets strategy.

In Brief : How to Craft your coaching business plan in 7 simple Steps

• Step 1: 📝 Executive Summary – Craft a compelling summary that encapsulates your business vision, mission, and core elements like the business name, owner, and location, setting the stage for what follows.
• Step 2: 🗂️ Business Description – Detail your coaching services, niche, and operational mechanics. Explain how these elements work together to meet the needs of your clientele.
• Step 3: 🔍 Market Analysis – Conduct a thorough analysis of your target market and competition. Use this data to tailor your services and pinpoint market opportunities.
• Step 4: 📈 Create a Marketing Strategy – Develop a comprehensive marketing plan that includes digital and traditional methods to attract and retain clients, ensuring your brand stands out.
• Step 5: ⚙️ Operations Plan – Outline your business’s operational structure, including the logistics of daily operations and the roles of your team members.
• Step 6: 💰 Financial Planning – Forecast your business’s financial health with detailed budgeting, pricing strategies, and expected financial outcomes.
• Step 7: 🚀 Review and Implement – Regularly review and refine your business plan to ensure it remains relevant and effective

Do You Need a Coaching Business Plan?

A few years ago, I was just like you—excited yet baffled about the right steps to take in starting my coaching business. I dabbled in social media, attended conferences, tried podcasting, and explored various other avenues. 

Despite my efforts, the results were far from what I needed. It felt like I was constantly moving, but not in the right direction.

Then it clicked. I realized that diving headfirst into business without a well-thought-out plan was like sailing without a compass. 

So, I took a step back and started from scratch, this time with a clear strategy in mind. I laid out a business plan that not only guided my business to success but also continues to guide me today.

Starting a coaching business can be an exciting venture , but without a clear plan, it’s easy to lose direction and focus. A business plan helps you outline your business objectives and also provides a roadmap to achieve them. 

Here’s why a business plan is vital for a coaching business:

• Clarity and Direction : A business plan defines your coaching business’s purpose and sets clear goals. This clarity guides your decisions and keeps you focused on long-term goals.
• Understanding Your Market : Who are your potential clients? What are their needs and how can your coaching services meet those needs? Analyzing the market helps you tailor your offerings. It also helps you stand out from competitors. This ensures your services are in demand.
• Attracting Investors and Funding : Investors want to know that their money is going into a venture. The venture must have a clear plan to make a profit. This will give potential investors the confidence to back your business.
• Measuring Progress and Success : A business plan sets a baseline for measuring your progress. Setting clear goals and milestones helps you track progress and adjust strategies as needed. This ongoing review keeps you on track and informs smart decisions that drive your business forward.
• Risk Management : All businesses, including coaching ones, face risks. A business plan helps predict and manage these risks, making it easier to handle challenges. It prepares you for economic downturns, shifts in consumer behavior, and new competitors. This proactive approach protects against unexpected problems.

How To Create Your Coaching Business Plan

A well-structured business plan outlines every critical component of your operation, from your business identity and client demographics to your financial management and growth strategy.

Before we jump straight into the coaching business template , let’s understand the structure of your coaching business plan:

• Step 1: Craft your Executive Summary
• Step 2: Business Description
• Step 3: Market Analysis
• Step 4: Create a Marketing and Sales Strategy
• Step 5: Operations Plan
• Step 6: Financial Planning
• Step 7: Review and Implement

1. Crafting Your Executive Summary

To start your coaching business, begin with a powerful executive summary in your business plan. This section is like the front cover of a book—it needs to captivate and inform.

Here’s how to craft an executive summary that sets the stage for a compelling business plan:

• Business Name and Location : Clearly state the name of your coaching business and where you are based. This basic info introduces your business.
• Services Offered : Describe the types of coaching you provide. You might specialize in life coaching, career coaching, or another niche. Give a snapshot of what you offer.
• Mission Statement : Your mission statement should reflect the core values and purpose of your business. It tells your audience what your business stands for and what you aim to achieve.
• Vision Statement : This is about the future. Where do you see your coaching business going? What impact do you want to make? Your vision statement paints a picture of the future you are working towards.
• Goals and Objectives : Jot down your short-term and long-term objectives for your coaching business using the SMART criteria—Specific, Measurable, Achievable, Relevant, and Time-bound . Short-term goals might include reaching a certain number of clients. Or, they might include achieving a set income within the first year. Long-term goals could involve expanding your services nationally. Or, they could involve developing a franchise model.

2. Business Description

Here, you explain what your business does, how it operates, and what it aims to achieve.

This section gives context for the rest of the business plan. It helps stakeholders understand your business at a detailed level.

Choose Your Niche

Choosing a coaching niche and specifying your services are key . This sets your business apart.

Detail your target market. Whether you focus on life, executive, or health coaching, each meets unique client needs. Focus on demographics like age, profession, or specific challenges. Your coaching addresses those challenges.

Explain how your services are tailored to meet these needs, and discuss your business’s competitive edge. List your services in this field. Include personal coaching, group workshops, and online courses.

Also, showcase what makes you unique. For example, you might have a special coaching method. Or, you could be highly skilled in a popular coaching area.

Business Structure

The structure of your coaching business can greatly impact its operations and growth. You may operate as a sole proprietorship, a partnership, or a corporation. Each type has its own implications.

A sole proprietorship is easy to start and gives you full control. But it also leaves you fully liable for debts. On the other hand, a corporation shields you from debt and can attract investors. It does this through its structure and ability to sell shares. However, corporations face more rules and taxes.

Choose the structure that fits your business goals. Consider how it affects liability, taxation, and investment.

Business Model

Your coaching business can adopt various models to deliver its services, depending on your target market and your expertise:

• One-on-One Coaching: Tailored specifically to individual clients to address personal or professional goals. This model allows for deep, personalized work and can be conducted in person, over the phone, or via video conferencing.
• Group Sessions: These sessions bring together multiple clients who share similar goals or challenges. Group coaching is effective for workshops, seminars, and regular meetings, offering the added benefit of peer learning and support.
• Online Courses: Providing digital courses allows clients to engage with your coaching material at their own pace. This model can include video lectures, downloadable resources, and interactive elements like quizzes or forums.

Value Proposition

What sets your coaching services apart is your unique value proposition.

For instance, your approach might integrate cutting-edge psychological research, or perhaps you offer a unique blend of strategies drawn from various disciplines such as mindfulness, behavioral science, and leadership training.

Maybe your services are particularly tailored to a niche market, such as startup entrepreneurs or corporate executives facing burnout.

Highlighting this uniqueness in your business plan helps potential clients and investors understand why your coaching services are not just necessary but highly desirable.

3. Market Analysis

A thorough market analysis is crucial. It helps you understand your environment. You can identify opportunities and challenges. Then, you can make strategies. These strategies use your strengths to meet market demands.

This part of your business plan will show the whole market. It will offer key insights. These insights will help you set real goals and grow in a lasting way.

Identify your Target Market

Identifying your target market involves defining the specific group of people who are most likely to benefit from your coaching services. Key aspects to consider include:

• Demographics: Age, gender, profession, income level, and educational background. For instance, your services might cater primarily to mid-level professionals aged 30–50.
• Psychographics: Values, interests, lifestyle, and personality traits. For example, this might include people who value personal development, are career-focused, and seek work-life balance.
• Location: Whether your target market is local, regional, national, or global. Online coaching services can broaden your geographical reach compared to traditional in-person sessions.

Market Need

This section details the specific needs your coaching services address.

Are your clients looking for career advancement, personal growth, better stress management, or improved leadership skills?

Understanding these needs allows you to tailor your offerings effectively.

For example, if there is a high demand for stress management techniques among corporate workers in your area, your coaching could focus on mindfulness and resilience training.

Analyze your Competition

Analyzing your competitors helps you understand the current market landscape and identify what sets your coaching apart. Consider the following:

• Who are your main competitors? Look at other coaching services in your niche.
• What services do they offer? Understanding their offerings helps you spot gaps in the market.
• What are their strengths and weaknesses? This can help you learn from their successes and capitalize on areas where they may fall short.

SWOT Analysis

A SWOT Analysis is a strategic method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats.

Use it to analyze your coaching business:

• Strengths: What advantages does your coaching business have? This could be a unique coaching methodology, a strong personal brand, or deep expertise in a niche area.
• Weaknesses: What areas need improvement? This might include limited market presence or lack of full-time coaching staff.
• Opportunities: Look for external factors that could be advantageous for your business. This could include increasing demand for mental health services or expanding into online coaching.
• Threats: Identify potential challenges that could hinder your business’s success. These might include new competitors entering the market or changes in regulatory laws affecting coaching services.

4. Marketing and Sales Strategies

An effective marketing and sales strategy is critical for the success of any coaching business. This part of your business plan outlines how you will attract and keep clients.

It details your approaches to reaching your target market and turning leads into paying customers. The right strategy boosts visibility. It also improves client engagement and loyalty.

A well-crafted marketing plan is essential. It sets clear goals and identifies the best tactics to reach them. It ensures your marketing is consistent, targeted, and effective. They help build brand recognition and trust.

Developing your coaching brand involves creating a distinctive identity that resonates with your target audience and sets you apart from competitors.

Key elements include:

• Brand Message: What are the core messages you want to convey? This could be your commitment to helping clients achieve specific goals, like improving leadership skills or finding work-life balance.
• Visual Identity: Includes your logo, color scheme, and overall visual style. These should reflect the tone and ethos of your coaching practice.
• Brand Voice: How you communicate in written and spoken words, which should consistently reflect your values and appeal to your target audience.

Marketing Channels

To reach your potential clients effectively, utilize a mix of marketing channels tailored to where your audience spends their time:

• Social Media: Platforms like LinkedIn, Instagram, and Facebook can help build community and engagement. Tailor your content strategy to each platform to maximize reach and engagement.
• Speaking Engagements: Presenting at conferences or local events can establish you as an expert in your field and attract clients looking for proven guidance.
• Networking: Building relationships through industry groups or local business events can lead to referrals and new client opportunities.
• SEO: Optimize your website and content for search engines to attract organic traffic. Focus on keywords that potential clients might use to find coaching services.

Effective marketing can significantly boost your coaching business, attracting a steady stream of clients. It not only draws attention but also captures and retains interest

Sales Strategy

Converting potential clients into paying clients requires a clear sales process:

• Initial Consultation: Offer a free or discounted initial consultation to introduce potential clients to your coaching style and the benefits of your services.
• Follow-Up: After the consultation, follow up with a personalized message that summarizes how you can help them achieve their goals.
• Special Offers: Consider time-limited offers or package deals to encourage sign-ups.

Set up a sales funnel. A sales funnel is a process that guides potential clients from their first interaction with your brand through various stages of engagement until they make a purchase.

It starts with awareness, often through your marketing efforts, and progresses to interest (engaging with content), decision (attending a consultation), and finally action (purchasing a coaching package). 

5. Operations Plan

The Operational Plan section of your business plan provides a detailed look at how your coaching business works. This section outlines the day-to-day operations that support your coaching business.

This includes preparing for client sessions, both scheduled and ad-hoc and follow-up activities for each session, client communication, and administrative tasks like scheduling, billing, and client records management. 

It’s important to specify how these tasks are handled and by whom, as well as any business hours or response time commitments you make to your clients.

Business Location

Where you operate your business significantly shapes how it runs. Specify whether you offer your coaching services online, offline , or in a hybrid model:

Technology Used

Technology is crucial in running a modern coaching business efficiently. List the specific technologies and software you utilize for various business functions:

• Client Management Systems : Software for scheduling , session notes, and client progress tracking.
• Communication Tools : Tools used for client communication, such as email platforms, video conferencing tools, and instant messaging apps.
• Marketing and Sales Software : CRM systems for managing leads, marketing automation tools, and analytics platforms.

Staff and Resources

Finally, detail any staff or additional resources needed to operate your business effectively. This includes any administrative support, marketing personnel, or additional coaches. 

If you handle most operations solo, discuss any outsourced services you might need, such as virtual assistants, accountants, or IT support.

6. Financial Planning

The Financial Plan is a critical section of your business plan. It is crucial for both potential investors and for you as the owner.

It shows that your coaching business is financially viable. It gives a roadmap for financial success.

This section is crucial for securing funding. It shows you understand your business’s finances.

Startup Costs

Outline all initial costs required to start your coaching business. This includes any licensing fees, initial marketing expenses, technology setup costs, office equipment, and any other expenditures necessary to launch your business.

Pricing Strategy

Set your prices for your coaching services based on the value you provide, the demands of your target market, and your competitors’ pricing. You can also offer different pricing tiers based on the length and depth of the coaching provided or discounts for upfront payments for a series of sessions.

Revenue Projections

Project your revenues over the next three to five years. Base these estimates on your market analysis, including expected client numbers, session pricing, and any additional revenue streams like workshops or online courses.

Break-even Analysis:

Calculate when the business expects to break even. This analysis should consider all fixed costs (like rent and salaries) and variable costs (such as session materials or payment processing fees) against expected revenue streams. The break-even point is the moment when total revenues equal total costs, indicating when the business starts to generate profit beyond recovering its initial and operational costs.

Think of it like this: if you have a lemonade stand, you need to know how many cups of lemonade you have to sell to pay for all your supplies and costs. The moment you’ve sold enough cups to cover all your expenses, you hit your “break-even point.” That means you’re not losing money anymore, and any more lemonade you sell after that starts to make you profit.

7. Review and Implement

Once you’ve finalized your coaching business plan, the next steps are critical: reviewing the plan carefully and implementing it effectively.

This ensures that your business is built on a solid foundation and is ready to adapt to challenges and opportunities. Here’s how to approach these important phases:

Reviewing Your Business Plan

• Thorough Read-through: Start by reading your business plan thoroughly from start to finish. This helps you ensure that the plan is cohesive and all parts align well with each other.
• Seek External Feedback: It’s invaluable to get perspectives from trusted mentors, industry peers, or potential investors. They can provide insights that you might have missed and suggest improvements. Consider feedback from people who understand the coaching industry as well as those who might be part of your target audience.
• Revise for Clarity and Accuracy: Based on the feedback and your own assessments, make necessary revisions. This could involve clarifying certain sections, adding missing details, or correcting any inaccuracies. Ensure your financial forecasts and market analysis are realistic and based on the latest available data.
• Finalize the Document: Once revisions are made, finalize the formatting, proofread for grammatical errors, and ensure that the document is professionally presented.

Implementing Your Business Plan

Now that your business plan is meticulously crafted, it’s time to bring it to life. This step might seem a bit overwhelming, but it’s essential for growing your coaching business.

The great news is, you’re not in this alone. We’re here not just to support you but to actively participate in your journey.

Our role extends beyond mere guidance; we’re here to help build your business. While you concentrate on what you do best—coaching and transforming lives—we’ll handle the operational details. From identifying your niche to marketing execution, we’ve got you covered .

As we wrap up, I hope the insights shared here have empowered you to create a structured and effective business plan for your coaching venture.

Crafting a solid plan is crucial, not just for guiding your business but for adapting as your enterprise grows.

If you have any questions about the business planning process or wish to share your own experiences and insights, feel free to leave a comment below.

Resources for your Coaching Business Plan

As a coach, it’s crucial to have the right resources at your fingertips.

We’ve put together a curated list to support your journey to craft your custom coaching business plan.

Your Custom Template

To get your FREE custom Coaching Business Plan Template, click on the “Download Your Coaching Business Plan” Button

Other resources

Financial planning and management tools.

• QuickBooks : An accounting software ideal for small businesses to manage accounts with ease.
• Mint : Helps with personal and business financial planning and budgeting.
• Microsoft Excel / Google Sheets – Spreadsheet tools that are essential for financial analysis, including creating detailed financial projections and budgets.

Software and Online Platforms

• LivePlan : This is an intuitive, user-friendly business plan software that guides you through the process of creating a detailed, investor-ready business plan. It offers templates, financial forecasts, and performance tracking tools.
• Bizplan : Bizplan makes the process of writing a business plan more efficient through step-by-step guidance, templates, and a modern, user-friendly interface that simplifies financial forecasting and business modeling.
• Enloop : This tool automatically writes and formats your business plan as you input information. It offers features like auto-generated financial reports and a real-time performance score to improve your plan.
• SMART Goals – A framework for setting objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound, ensuring well-defined and attainable goals.
• SWOT Analysis – A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
• PEST Analysis – A framework for analyzing and monitoring the macro-environmental factors that may have a profound impact on an organization’s performance.
• Business Model Canvas – A strategic management template for developing new or documenting existing business models across nine key components.
• Value Proposition Canvas – A tool that helps businesses ensure that a product or service is positioned around what the customer values and needs.
• “ Co-Active Coaching: Changing Business, Transforming Lives ” by Henry Kimsey-House, Karen Kimsey-House, Phillip Sandahl, and Laura Whitworth – This book provides a foundational philosophy for professional coaching.
• “ Business Model Generation ” by Alexander Osterwalder & Yves Pigneur – A book that introduces practical tools for creating, analyzing, and reinventing business models, with visual methods for brainstorming.
• “ The Lean Startup ” by Eric Ries – A book that introduces methodologies for developing businesses and products in an efficient way by managing and directing startup activities toward the markets.

Legal Resources for Small Businesses

• U.S. Small Business Administration (SBA) : Information on business registration, legal structures, and licenses.
• Gov.uk (for UK based businesses) : Guidance on starting and running a business in the UK, including legal obligations.

Each resource was chosen based on its practical utility, ease of access, and the most current information available.

From established industry platforms to cutting-edge tools and insightful publications, our editorial team has researched, fact-checked, and curated a diverse mix of resources to cater to various learning styles and needs.

This ensures you have access to the best tools and knowledge, helping you build a solid coaching business plan.

Frequently Asked Questions (FAQs)

What are the steps of a business plan.

A coaching business plan includes the following steps – making a list of the strengths and weaknesses of the company, moving on to a SWOT analysis, outlining a short-term and long-term strategy, creating project benchmarks, and defining the key success factors. Another additional step is how to price the business and launch a new product.

What Must An Entrepreneur Do After Creating their Coaching Business Plan?

A list of tasks that entrepreneurs should complete after setting up their coaching business plan includes: obtaining startup capital, researching trade laws, reviewing business licenses, and choosing a company name.

What Is the Purpose of Writing a Business Plan Before Entering the Market?

Creating a coaching business plan before entering the market can prove beneficial because it allows entrepreneurs to look at the big picture of the company, from the way it will be run to its goals and general purposes. It also gives entrepreneurs an opportunity to look at what they need to do in order to successfully and efficiently run their business.

What Should I Include In A Business Plan?

Every business plan needs to include the questions and answers of these three fundamental issues: what do you want your company to accomplish, why should people buy what you sell, and how will you make it happen? It is important to take this opportunity to be very thorough with your business plan.

How to Make a Business Plan?

To make a business plan, you must know what kind of business you want it to be. You will need to research your market, competition, and finances. If you don’t, then you run the risk of running out of money or building a business that is unable to make a profit.

How Do You Draft A Coaching Plan?

You can draft a coaching plan through plenty of documents and templates that can be used as a guide to help you brainstorm and organize your own thoughts. One great resource is the Coaching Business Plan Workbook and Guide by Mary Baldwin and Amy Levin-Epstein.

How To Write A Business Plan Step By Step?

The precise step-by-step guide on how to write a business starts with first outlining what your business will be and what your long-term goal is. Next, it’s important to start with developing your company’s mission statement, detailing who your customer is and what they want. This is followed by conducting market research and researching your competition.

ABOUT SAI BLACKBYRN

I’m Sai Blackbyrn, better known as “The Coach’s Mentor.” I help Coaches like you establish their business online. My system is simple: close more clients at higher fees. You can take advantage of technology, and use it as a catalyst to grow your coaching business in a matter of weeks; not months, not years. It’s easier than you think.

4 thoughts on “How to Craft your coaching business plan in 7 simple Steps (+ FREE Template)”

This article was very simple and easy to follow. Extremely helpful. Just starting out so needed this kinda help.

Hi J Dawn, I’m glad you got great value from this piece. And since you are just starting out, the webinar would be extremely helpful to you so do register

Thank you so much, very insightful especially as I’m starting my coaching business.

Keep up the great work!

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How to Write a Life Coaching Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for life coaching businesses who want to improve their strategy or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you will accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every life coaching business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Life Coaching Business Plan?

A life coaching business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Life Coaching Business Plan?

A life coaching business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Life Coaching Business Plan

The following are the key components of a successful life coaching business plan:

Executive Summary

The executive summary of a life coaching business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your life coaching company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your life coaching business. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company or been involved in an entrepreneurial venture before starting your life coaching firm, mention this.

You will also include information about your chosen life coaching business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a life coaching business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the life coaching industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support your company’s success)?

You should also include sources for your information, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a life coaching business’ clients may include:

• High school students seeking guidance on what to do after graduation
• Middle-aged professionals wanting a mid-life career change
• Small business owners needing help to expand their companies

You can include information about how your customers decide to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or life coaching services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will differ from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your life coaching business may have:

• You offer a more comprehensive life coaching program than your competitors.
• You have a team of certified life coaches with years of experience in various coaching fields.
• Your company offers a 100% satisfaction guarantee.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service: Detail your product/service offerings here. Document their features and benefits.
• Price: Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place: Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion: How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your life coaching business via word-of-mouth.

Operations Plan

This part of your life coaching business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a life coaching business include reaching $X in sales. Other examples include expanding your customer base by X% or adding X new life coaching programs.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your specific life coaching industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue: how much revenue you generate.
• Cost of Goods Sold: These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss): Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Life Coaching Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Life Coaching Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include cash flow from:

• Investments

Below is a sample of a projected cash flow statement for a startup life coaching business.

Sample Cash Flow Statement for a Startup Life Coaching Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Write a Strong Life Coaching Business Plan

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your life coaching company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A business plan also serves as a valuable tool for communicating your business goals to employees, partners, and investors. By taking the time to write a comprehensive business plan, you will have a much better chance of achieving your desired results.  

Finish Your Business Plan in 1 Day!

Wish there was a faster, easier way to finish your ultimate business plan?

With our Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their coaching companies. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a coaching business plan step-by-step so you can create your plan today.

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What is a Coaching Business Plan?

A business plan provides a snapshot of your coaching business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Coaching Business

If you’re looking to start a coaching business or grow your existing coaching company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your coaching business to improve your chances of success. Your coaching business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Coaching Businesses

With regards to funding, the main sources of funding for a coaching business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for coaching companies.

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How to write a business plan for a coaching business.

If you want to start a coaching business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your coaching business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of coaching business you are running and the status. For example, are you a startup, do you have a coaching business that you would like to grow, or are you operating a multiple coaching businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the coaching industry.
• Discuss the type of coaching business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of coaching business you are operating.

For example, you might specialize in one of the following types of coaching businesses:

• Business coaching: A business coach specializes in helping business owners clarify their business’s vision and goals.
• Career coaching: A career coach specializes in helping individuals reach their professional goals.
• Life coaching: A life coach specializes in helping people make positive progress in their daily lives, relationships, and careers.
• Performance coaching: A performance coach specializes in helping individuals improve their performance abilities using techniques similar to a sports coach.
• Wellness coaching: A wellness coach specializes in helping individuals develop and maintain healthy habits.

In addition to explaining the type of coaching business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of cases with positive outcomes, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the coaching industry. While this may seem unnecessary, it serves multiple purposes.

First, researching the coaching industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your coaching business plan:

• How big is the coaching industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your coaching business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your coaching business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of coaching business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other coaching businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of self-development services, therapists, counselors, and online support groups. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of clients do they serve?
• What type of coaching business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for clients to acquire your services?
• Will you offer services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a coaching business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of coaching company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide performance coaching, executive coaching, health and wellness coaching, or career coaching services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the services you offer and their prices.

Place : Place refers to the site of your coaching company. Document where your company is situated and mention how the site will impact your success. For example, is your coaching business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your coaching marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your coaching business, including answering calls, planning and providing coaching sessions, billing clients and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth session, or when you hope to reach $X in revenue. It could also be when you expect to expand your coaching business to a new city.  

Management Team

To demonstrate your coaching business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing coaching businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in coaching or running a small business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you see 5 clients per day, and/or offer group coaching sessions? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your coaching business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a coaching business:

• Cost of utilities, internet service, and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and office furniture

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of payment forms you accept.  

Writing a business plan for your coaching business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the coaching industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful coaching business.

Coaching Business Plan Template FAQs

What is the easiest way to complete my coaching business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your coaching business plan.

Where Can I Download a Sample Life Coach Business Plan PDF?

You can download our sample life coach business plan pdf here.

How Do You Start a Coaching Business?

Starting a coaching business is easy with these 14 steps:

• Choose the Name for Your Coaching Business
• Create Your Coaching Business Plan
• Choose the Legal Structure for Your Coaching Business
• Secure Startup Funding for Your Coaching Business (If Needed)
• Secure a Location for Your Business
• Register Your Coaching Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Coaching Business
• Buy or Lease the Right Coaching Business Equipment
• Develop Your Coaching Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Coaching Business
• Open for Business

Learn more about how to start your own coaching business .

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Other Helpful Business Plan Articles & Templates

Life Coach Business Plan Template

Written by Dave Lavinsky

Life Coach Business Plan

You’ve come to the right place to create your Life Coach business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Life Coach businesses.

Life Coaching Business Plan Sample

Below is a template to help you create each section of your Life Coach business plan.

Executive Summary

Business overview.

Desert Sun Life Coaching Company is a startup life coaching service located in Tucson, Arizona. The company is founded by Max Morrison, a life coach who has successfully counseled individuals for over twenty years while working for a national life coaching company. Now that he has built a large base of clients, he has received commitments from over forty clients that they will commit to long-term contracts with him in his new company, Desert Sun Life Coaching Company. Max is confident he has not only served each of his current clients well, but that he can grow and supplement his services by recruiting a highly-experienced executive team who will also gain clients. He is also committed to approaching corporate human resources executives to garner corporate accounts on a long-term basis.

Desert Sun Life Coaching Company will provide the full spectrum of life coaching services for individuals of all ages. Desert Sun Life Coaching Company will become known for their friendly and experienced life coaches, but also for the results-driven attitudes and life-affirming changes within the clients who are served by Desert Sun Life Coaching Company during the process.

Product Offering

The following are the services that Desert Sun Life Coaching Company will provide:

• Personalized one-on-one life coaching for individuals of all ages
• Corporate human resources training sessions
• On-going life coach training for new coaches
• Books and book products related to life choices
• Community service via counseling sessions

Customer Focus

Desert Sun Life Coaching Company will target all individuals in Tucson. They will target human resources executives in corporations to target corporate employees. They will also target high schools, universities, and community members who may be aware of coaching needs within the schools or community and require coaching on a pro bono basis.

Management Team

Desert Sun Life Coaching Company will be owned and operated by Max Morrison. He has recruited two life coaches with whom he used to work to join the new startup as additional life coaches. Carrie Costain is a highly-experienced, friendly and warm life coach who has fifty clients who will come with her into the new startup. Her personality invites others to trust her and share with ease; she brings a large social media following with her and will continue to blog on her website, as well as create posts and capture images for her social media following.

Michelle Irwin is a life coach who specializes in elder coaching. Working with those over age sixty is a special challenge, as most individuals at that age have already determined there is nothing left that they would be able to do. Life coaching for these individuals is particularly stressful, but always rewarding in the process. She will bring twenty clients with her to the new company.

Success Factors

Desert Sun Life Coaching Company will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly qualified team of life coaches and counselors.
• Confidential and totally secure environment for sharing personal information and concerns, with each session in private offices.
• Encouraging coaching that brings successful conclusions after life coaching ends; results that are proven by the next steps of past clients.
• Desert Sun Life Coaching Company will offer moderate pricing levels, given the concept that the long-term contracts with corporate partners will defray the costs for those who cannot afford the standard fees, such as seniors.

Financial Highlights

Desert Sun Life Coaching Company is seeking $200,000 in debt financing to launch its Desert Sun Life Coaching Company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the social media marketing and website construction and design. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph outlines the financial projections for the Desert Sun Life Coaching Company:

ADD IMAGE HERE

Company Overview

Who is desert sun life coaching company.

Desert Sun Life Coaching Company is a newly established full-service life coaching service in Tucson, Arizona. Desert Sun Life Coaching Company will be the most reliable, cost-effective, secure and safe choice for individuals who seek such service in the city and surrounding communities. Desert Sun Life Coaching Company will provide a comprehensive menu of services for coaching, such as training new coaches, selling books and book products, advising and working with disadvantaged seniors and providing excellent service for each client. Their full-service approach includes a comprehensive set of customer choices in session styles.

  Desert Sun Life Coaching Company will be able to provide comprehensive services to individuals, as the team of life coaching professionals are all highly-experienced and qualified in life coaching. The full-service approach of Desert Sun Life Coaching Company means that all support is supplemented with books and book materials that are helpful for clients after their life coaching sessions conclude. Desert Sun Life Coaching Company removes all the headaches and issues of clients having to secure life coaches in unfamiliar places or in uncomfortable surroundings. Desert Sun Life Coaching ensures all issues for their clients are taken care of expeditiously, while delivering the best customer service.

Desert Sun Life Coaching Company History

Since incorporation, Desert Sun Life Coaching Company has achieved the following milestones:

• Registered Desert Sun Life Coaching LLC to transact business in the state of Arizona.
• Has a contract in place at one of the office buildings near the corporate center of Tucson.
• The Desert Sun Life Coaching Company will set up its office space for 10,000 square feet. Reached out to numerous contacts to consider moving client services to Desert Sun Life Coaching Company.
• Began recruiting a staff of office and administration employees for the Desert Sun Life Coaching Company.

Desert Sun Life Coaching Company Services

The following are the services Desert Sun Life Coaching Company Services will provide:

• Personalized introductory assessments
• Evaluations of life interests and plans
• Customized program of one-on-one sessions to determine life pathway
• Group therapy circles to work on interpersonal skills and communication
• Occupational assessments and directional leadership
• Outward bound program evaluations

Industry Analysis

The U.S. life coaching industry is expected to grow by 4.85% over the next several years to reach over 2B in 2030. This significant growth will be driven by consumer interest in determining the life pathways that are open to them. Regardless of age, individuals are showing an increased drive to discover personal, spiritual and life-changing purposes. Costs will likely be reduced as the life coaching industry becomes more recognizable and has become normalized throughout cities. The current 99% of individuals and companies coached who are very satisfied or satisfied will, in all probability, continue to recommend life coaching services.

Customer Analysis

Demographic profile of target market.

Desert Sun Life Coaching Company will target those individuals and corporations in Tucson, Arizona in need of coaching services.They will target individuals in search of coaching, corporations in need of life coaching services, and community organizations that cater to individuals in need of life coaching services.

The precise demographics for Desert Sun Life Coaching Company are:

Customer Segmentation

Desert Sun Life Coaching will primarily target the following customer profiles:

• Individuals
• Corporations with human resource programs for life coaching
• Individuals who were previously coached
• Referral contacts offered by former clients
• Community opportunities to provide coaching

Competitive Analysis

Direct and indirect competitors.

Desert Sun Life Coaching Company will face competition from other companies with similar business profiles. A description of each competitor company is below.

New Horizons Counseling Center

The New Horizons Counseling Center is a direct competitor, focused on spiritual and life pathway coaching. Counselors are experienced; some have formal training or certifications in counseling. The list of services includes counseling for private individuals and those within the community in need of counseling. Referrals to the New Horizons Counseling Center are garnered from the city governmental agencies and law enforcement agencies, as needed.

New Horizons Counseling Center is a not-for-profit organization and is listed as a 501c3 nonprofit. As such, there is a fund-raising opportunity for community members on a twice-a-year basis. Other than that, there are fund-raising efforts throughout the year to support the staff salaries and administration needs. These include bake sales, craft fairs and other artisan efforts within the community.

Crystal Blue Life Coaching

Crystal Blue Life Coaching is a direct competitor, focused on multi-faceted coaching and counseling, while also acting as a center for teenaged children, ages 13-18, who have experienced trauma or are uncertain about their personal futures. There are drug and alcohol counselors, as well as experienced counselors for child abuse and other traumas of childhood that lead to counseling. The counselors and coaches are all credentialed through the city programs provided by the University of Arizona, and the center offers a 12-step program to wellness and health which includes life coaching chapters. The program at Crystal Blue Life Coaching is 12-14 weeks in length, depending on the nature of the program, need, and any ancillary services required. The costs for these services are very high in comparison to other coaching services available, and are sometimes supplemented by the city of Tucson. Clients can expect to receive expert care; albeit at a very high price and, for teens, a very concentrated, lengthy program. Although not a rehabilitation program, some teens have remarked or posted that this is much the way they “feel” about the program upon departure.

Ocotillo Family Counseling

The Ocotillo Family Counseling partnership is an indirect competitor. Although counseling services are provided, life coaching services are not. The family therapy sessions include adolescent behavior modification, marriage counseling, children’s counseling, couples therapy and other traditional forms of counseling. The owners, Liam and Darcy Trueblood, formed an LLC to begin the counseling company and run it as a for-profit counseling practice. Both Liam and Darcy Trueblood hold Bachelor of Art degrees in psychology and have been in practice for almost seven years.

The focus of Ocotillo Family Counseling has turned to adolescent behavior modification in recent years, with intensive counseling sessions for youth at risk or those who have already entered into high-risk relationships or drug-related activities. Costs for all services are positioned on the high end of the citywide spectrum, due to the families who are willing to pay considerable costs for drug rehabilitation or behavior modification via private rather than public programs.

Competitive Advantage

Desert Sun Life Coaching Company will be able to offer the following advantages over their competition:

• Friendly, knowledgeable, and highly qualified team of Desert Sun Life Coaching Company
• Confidential and totally secure environment for sharing private or personal information and concerns, with each session in an enclosed office.
• Encouraging coaching that brings successful conclusions after life coaching ends; with results that are proven by the next steps of former clients.
• Desert Sun Life Coaching Company will offer moderate pricing levels, given the concept that the long-term contracts with corporate partners will help defray the costs for those who cannot afford the standard fees, such as seniors.

Marketing Plan

Brand & value proposition.

Desert Sun Life Coaching Company will offer the unique value proposition to its clientele:

• Highly-qualified team of skilled employees that is able to provide a comprehensive set of certified counseling services at very reasonable prices.
• Coaches who are referenced repeatedly for the excellent life coaching services they’ve offered to community members, including teenagers and children.
• Books and book products that support life coaching throughout the process.

Promotions Strategy

The promotions strategy for Desert Sun Life Coaching Company is as follows:

Word of Mouth/Referrals

The Desert Sun Life Coaching Company has built up an extensive list of contacts over the years by providing exceptional service and expertise for clients. These current and former clients have communicated to Max Morrison that they kept renewing their contracts because they were satisfied with the service the team of coaches was providing. Once Max Morrison advised them he was leaving to open his own life coaching company, they signed commitments to follow him to his new company and help spread the word of Desert Sun Life Coaching Company.

Professional Associations and Networking

Cosmopolitan Coffee will create a website that includes a splash page, directing customers to interactive pages. One page will demonstrate the process of coffee bean roasting, and one will contain a video from José discussing his background and family history. Seasonal coffee flavors and specials will also be introduced.

Partnerships with Local Businesses

Each of the three executives will spend time and energy promoting their new Desert Sun Life Coaching Company within their aggregate associations. Networking with those who have much in common supports strong relationships and builds new alliances, in addition to structuring new business relationships. These relationships have been pivotal in the previous history of the company and are now considered to be invaluable in referrals and other joint-based efforts.

Social Media Marketing

One of the strengths of Desert Sun Life Coaching is the position of Carrie Costain, the Staff Accountant and part-time social media marketing manager who regularly posts updates, images and comments on behalf of the executives at Desert Sun Life Coaching Company. This representation has led to increased numbers of followers, particularly for Max Morrison, who now has over 15,000 followers on his social media platforms. This arena is perfect for marketing and messaging, which will be accomplished during the first three months of the business.

Website/SEO Marketing

Desert Sun Life Coaching Company will utilize their website developer who designed their messaging to also design their linked pages. The website will be well organized, informative, and list all the services that Desert Sun Life Coaching Company is able to provide. The website will also list contact information and available reservation times with links to reserve online. SEO marketing tactics will be employed so anytime someone types in the Google or Bing search engine, “Tucson life coaching” or “counseling services near me,” Desert Sun Life Coaching Company will be listed at the top of the search results.

The pricing of Desert Sun Life Coaching Company will be moderate and on par with competitors so customers feel they receive value when purchasing their services.

Operations Plan

The following will be the operations plan for Desert Sun Life Coaching Company. Operation Functions:

• Max Morrison will be the Owner and President of the company. He will oversee all staff and manage client relations, business development and long-term growth planning.
• Carrie Costain is a highly-experienced, friendly and warm life coach who has fifty clients who will come with her into the new startup. Her role will be Vice President of the company. She will also engage social media as a part-time provider of those services. She will oversee day-to-day operations and take on the necessary administrative roles to assist employees in onboarding and training new employees.
• Michelle Irwin is a life coach who specializes in elder coaching. She will hold the role of Staff Accountant. She holds a Bachelor of Arts degree in Accounting from the University of Arizona and will oversee day-to-day bookkeeping operations, tax forms and filing, and other fiduciary duties. She will bring twenty clients with her to the new company.

Milestones:

Desert Sun Life Coaching Company will have the following milestones completed in the next six months.

• 5/1/202X – Finalize contract to lease office space
• 5/15/202X – Finalize personnel and staff employment contracts for the Desert Sun Life Coaching Company
• 6/1/202X – Finalize contracts for Desert Sun Life Coaching Company clients
• 6/15/202X – Begin networking at professional and industry events
• 6/22/202X – Begin moving into Desert Sun Life Coaching Company office
• 7/1/202X – Desert Sun Life Coaching Company opens its office for business

Desert Sun Life Coaching Company will be owned and operated by Max Morrison, who will have the role of President. He has recruited two life coaches with whom he used to work to join the new startup as additional life coaches. The company is founded by Max Morrison, a life coach who has successfully counseled individuals for over twenty years while working for a national life coaching company.

Now that he has built a large base of clients, Max has received commitments from over forty clients that they will commit to long-term contracts with him in his new company, Desert Sun Life Coaching Company. Max is confident he has not only served each of his current clients well, but that he can grow and supplement his services by recruiting a highly-experienced executive team who will also gain clients. He is also committed to approaching corporate human resources executives to garner corporate accounts on a long-term basis.

Carrie Costain is a highly-experienced, friendly and warm life coach who has fifty clients who will come with her into the new startup. Her role will be as Vice President and part-time social media manager. Her personality invites others to join her and share with ease; she brings a large social media following with her and will continue to blog on her website and create posts and capture images for her social media following.

Michelle Irwin is a life coach who specializes in elder coaching. Her role will be as Staff Accountant. Life coaching for senior individuals is particularly stressful, but always rewarding in the process. She will bring twenty clients with her to the new company.

Financial Plan

Key revenue & costs.

The revenue drivers for Desert Sun Life Coaching Company are the fees that will be charged to the clients for services rendered. In addition, fees will be collected from those buying books or book products.

The cost drivers will be the overhead costs required in order to staff the Desert Sun Life Coaching Company. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Desert Sun Life Coaching Company is seeking $200,000 in debt financing to launch its life coaching business. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Client Visits Per Month: 1,200
• Average Fees per Month: $50,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, life coach business plan faqs, what is a life coach business plan.

A life coach business plan is a plan to start and/or grow your life coach business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Life Coach  business plan using our Life Coach  Business Plan Template here .

What are the Main Types of Life Coach Businesses?

There are a number of different kinds of life coach businesses , some examples include: Business coaching, Career coaching, Performance coaching, and Wellness coaching.

How Do You Get Funding for Your Life Coaching Business Plan?

Life Coach businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Life Coaching Business?

Starting a life coach business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Life Coach Business Plan - The first step in starting a business is to create a detailed life coach business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your life coach business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your life coach business is in compliance with local laws.

3. Register Your Life Coach Business - Once you have chosen a legal structure, the next step is to register your life coach business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your life coach business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Life Coach Equipment & Supplies - In order to start your life coach business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your life coach business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Coaching Business Plan

Discover how a Coaching Business Plan can drive success in your coaching practice. Define the vision, identify the target audience, and strategize growth.

By Joshua Napilay on Jun 03, 2024.

Fact Checked by Ericka Pingol.

What is a Coaching Business Plan?

A coaching business plan is a comprehensive strategic blueprint that outlines the key goals, strategies, and tactics of a coaching business. This indispensable tool is crucial for anyone who intends to start or expand their coaching practice. The primary function of this plan is to serve as a detailed roadmap, directing the business toward its desired objectives while precisely delineating the steps required to achieve these goals.

The plan is typically divided into various sections, each focusing on a different aspect of the business. The first of these is the business description, which outlines the nature of the coaching practice, identifies the intended target audience, and articulates the unique value proposition that sets the business apart.

Next comes the market analysis. This involves an in-depth study of the potential clientele, a thorough examination of competitors, and a keen understanding of prevailing industry trends. This section provides valuable insights that inform the strategic direction of the coaching practice.

The organizational structure section provides a clear picture of the management hierarchy and staff roles, ensuring everyone understands their responsibilities and role in the larger business framework.

Following this is the product line or services section. This part describes the coaching services offered, helping potential clients understand what they stand to gain from engaging with the business.

The marketing and sales strategies section then outlines the comprehensive plans on how the business intends to attract, engage, and retain clients. This could include everything from digital marketing campaigns to referral programs.

The financial projections section estimates the business's income, expenditure, and profitability over a specific period. This vital component helps stakeholders understand the financial health and viability of the business.

Understanding and creating a coaching business plan can be a complex process, but luckily, resources like are available to guide you along the way.

If you want to improve the strategies at your Life Coaching business, check out this video:

Printable coaching business plan.

Download this Coaching Business Plan to create a thorough and detailed plan.

How does it work?

A coaching business plan provides a clear and structured blueprint for your coaching practice . It helps you define your vision, identify your goals, and devise strategies. Here's a step-by-step guide on how to use and fill out a coaching business plan:

Step 1: Executive Summary 

Start with an executive summary that provides an overview of your coaching business. This should include your business name, location, the services you offer, and your unique value proposition. Include keywords relevant to your business for SEO purposes.

Step 2: Business Description 

In this section, describe your coaching business in detail. Explain what type of coaching you provide (life coaching, business coaching, etc.), who your target audience is, and how your services will benefit them. Mention "Printable Coaching Business Plans" if your plan is intended to be printed and used offline.

Step 3: Market Analysis 

Carry out a market analysis to understand your competition and potential clients. Identify the needs and preferences of your target clients and how your services can meet these needs. Analyze your competitors and identify ways to differentiate your services.

Step 4: Organization Structure 

Outline the structure of your business. If you have employees, detail their roles and responsibilities. This step helps ensure everyone understands their part in your organization.

Step 5: Services 

Describe the coaching services you offer. Be clear and detailed so potential clients know exactly what they're getting.

Step 6: Marketing and Sales Strategies 

Devise a plan for attracting and retaining clients. This could involve social media marketing, content marketing, networking events, referral programs, etc.

Step 7: Financial Projections 

Finally, make financial projections for your coaching business. Estimate your income, expenses, and profitability over a specific period. This step is vital for understanding the financial viability of your business.

Coaching Business Plans Example (sample)

A coaching business plan is crucial for any aspiring or established coach. It outlines the blueprint for your coaching practice, detailing the strategies and tactics required to achieve your business objectives. Several examples of such plans can be found online in PDF format, providing a comprehensive view of a well-crafted coaching business plan.

For instance, a sample life coach business plan may include an executive summary, a detailed description of the business, market analysis, organizational structure, a list of services, marketing and sales strategies, and financial projections. Each section is meticulously laid out, offering a step-by-step guide to starting and growing a successful life coaching business.

A coaching business plan also often includes a SWOT analysis, outlining the business's strengths, weaknesses, opportunities, and threats. It may also detail the coaching service's unique selling proposition (USP) and pricing strategy.

Coaching Business Plans PDF can be downloaded, printed, and used as a reference or template for creating your business plan. They offer valuable insights into the intricacies of running a coaching business, making the process less daunting for newcomers and more streamlined for experienced coaches.

Download this Coaching Business Plan Example:

When would you use this Template?

The Coaching Business Plan template is an invaluable resource that can be used in various scenarios by different practitioners in the coaching industry. Its comprehensive structure and detailed sections make it appropriate for various uses. Here are some instances when you might find this template particularly useful:

• Starting a New Coaching Business: If you're launching a new coaching practice, this template can serve as your roadmap. It helps you define your business vision, identify your target audience, map out your services, and create a marketing strategy. It also aids in financial planning and forecasting.
• Expanding an Existing Business: For coaches looking to grow their existing businesses, this template can guide you through the process. It can help you assess your current position, identify growth opportunities, plan new services, and develop strategies for attracting more clients.
• Securing Funding or Investment: A well-prepared Coaching Business Plan is essential if you're seeking funding from investors or applying for a business loan. It gives potential investors a clear picture of your business, its profitability, and its growth potential.
• Re-evaluating Business Strategy: The business environment is dynamic, and things can change rapidly. If you need to reassess your business strategy due to changes in market trends, competition, or client needs, this template can help. It allows you to systematically evaluate each aspect of your business and devise new strategies accordingly.
• Educational Purposes: For students studying business or coaching, this template can serve as a practical tool for understanding how a coaching business operates. It provides insights into the planning and strategic thinking of running a successful coaching practice.

Streamlines Your Vision 

A Coaching Business Plan template helps to streamline your vision and goals. It provides a structure that guides you in detailing your business's mission, vision, and objectives, making it easier to communicate what you aim to achieve.

Enhances Strategic Planning 

The template aids in strategic planning. With sections for market analysis, marketing strategies, and financial projections, it ensures that you consider all crucial aspects when planning for your coaching business.

Saves Time and Effort 

A free coaching business plan template saves you the time and effort of starting from scratch. The pre-defined sections make filling easy, allowing you to focus more on the content and less on the format.

Facilitates Funding Acquisition 

A well-prepared business plan is vital when seeking investment or applying for loans. The template helps you present your business professionally and organization, increasing your chances of securing funding.

Promotes Accountability and Evaluation 

You can set clear goals and objectives for your coaching business with a business plan. This promotes accountability and allows regular evaluation of your business's performance against set targets.

Encourages Comprehensive Market Analysis 

The template encourages a comprehensive market analysis, including understanding your competition and identifying your target audience. This analysis is critical for making informed business decisions and strategizing effectively

Why use Carepatron as your Coaching Business Plan app?

Carepatron stands out as a premier Coaching Business Plan app for several compelling reasons. As a platform designed with the needs of coaches in mind, it offers a broad range of features that streamline creating, managing, and implementing a strategic business plan.

• User-Friendly Interface: The interface of Carepatron is designed to be straightforward and intuitive, making it accessible to users of all levels of tech-savvy. The platform guides you through drafting your business plan with clear instructions and prompts, making it easy to input your information and develop a comprehensive strategy.
• Powerful Collaboration Tools: Carepatron's robust collaboration features set it apart from other Coaching Business Plan Software. These tools enable real-time collaboration, allowing multiple stakeholders to simultaneously contribute to the business plan. This feature benefits coaching businesses with teams or partnerships, ensuring everyone is aligned and working towards the same goals.
• Flexible Customization Options: With Carepatron, you're not confined to a one-size-fits-all template. The platform allows for extensive customization, enabling you to tailor your business plan to your coaching business's specific needs and goals. Whether you specialize in personal life coaching, corporate executive coaching, or health and wellness coaching, you can create a plan that accurately reflects your unique services and target market.
• Uncompromising Data Security: Carepatron places a high priority on data security. The platform employs stringent security measures to protect your business plan and any other sensitive data against unauthorized access and breaches. You can have peace of mind knowing your information is secure.
• Cloud-Based Accessibility: As a cloud-based platform, Carepatron allows you to access your business plan from any device, at any time, and from anywhere with an internet connection. This level of accessibility ensures you can work on your plan, review it, or share it with stakeholders whenever you need to.
• Seamless Integration: Carepatron integrates seamlessly with various other tools and platforms, enhancing your productivity by streamlining your workflow. Whether you need to pull data from another system or want to connect your calendar for better planning, Carepatron makes it possible.

Blackbyrn, S. (2023, July 3). Coaching Business Plan In 10 Steps [Guide For 2023]. Coach Foundation . https://coachfoundation.com/blog/coaching-business-plan/

Lavinsky, D. (2023a). Coaching Business Plan Template. Growthink . https://www.growthink.com/businessplan/help-center/coaching-business-plan

Lavinsky, D. (2023b). Coaching Business Plan Template. PlanBuildr Business Plan Software . https://planbuildr.com/coaching-business-plan/

Lavinsky, D. (2023c). Life Coach Business Plan Template [Updated 2023]. BusinessPlanTemplate.com . https://www.businessplantemplate.com/life-coach-business-plan-template/

Procopio, J. (2023). How To Write a Business Plan for a Life Coaching Business + Free One-Page Life Coaching Business Plan - Bplans. Bplans: Free Business Planning Resources and Templates . https://www.bplans.com/business-planning/industries/how-to-write-a-business-plan-for-a-life-coaching-business-free-one-page-life-coaching-business-plan/

Sutton, J., PhD. (2023). How to start your life coaching Business Plan & template. PositivePsychology.com . https://positivepsychology.com/life-coaching-business/

Upmetrics. (2023, April 20). Coaching Business Plan Template (2023) . https://upmetrics.co/template/coaching-business-plan

Zhou, L. (2023, April 24). How to create a simple life coaching business Plan (2023). Luisa Zhou . https://www.luisazhou.com/blog/coaching-business-plan/

Commonly asked questions

Professional coaches across various fields, such as life, wellness, and executive coaching, primarily use a Coaching Business Plan. Additionally, partners, investors, and the executive team associated with a coaching business utilize this plan to gain clarity and focus on the business's vision, mission, and growth strategy.

A Coaching Business Plan is typically used at the startup phase of a coaching business to define its vision, mission, and strategy. However, it is also used during the expansion phase of the business, for regular business reviews, and when seeking investments or partnerships.

The Coaching Business Plan serves as a comprehensive roadmap for a coaching business. It helps define the business vision, identify the target audience, map out services, craft a marketing strategy, and plan finances. Additionally, it provides a snapshot of the business today and lays out the growth plan for the next few years.

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How to Write a Life Coaching Business Plan (The Easy Way!)

You’ve been working hard to get your Life Coaching Business off the ground. Now you need to figure out how to market and grow it! That’s where a life coaching business plan comes in!

We’re Cass and Tee , and we’ve been helping coaches succeed for years, as well as being coaches ourselves! We understand the importance of a business plan. This is the most important part of your life coaching business.

Today, we’re going to explore all the steps for creating a simple and effective life coaching business plan. We’ll help you outline what you want to offer in your life coaching business, who your ideal clients are, and what strategies you’ll use to grow your business. 

We’ve even included a template that is ready-to-go for you so all you have to do is fill in the blank. 🙂

Let’s dive right in!

Table of Contents

What is a life coaching business plan, section 1: mission statement, section 2: executive summary, section 3: products and services, section 4: targeted audience, section 5: client needs, section 6: client acquisition, section 7: competitive advantage, section 8: owner passion, section 9: finances, section 10: business goals, final thoughts – how to write a life coaching business plan.

Your life coaching business plan tells you in concrete terms what it is that you wish to achieve from your business. This plan lets you know where you are starting, where you aim to be, and the timescales that you are looking at. It also tells you what resources you need.

It’s an important means of keeping yourself on track with your current plan because you will have an end goal in sight. It will also bring structure to your approach, and encourage you to slow down enough to think about the steps.

You don’t have to write a novel-length plan, however. A short, simple plan is often more effective, and that’s what we are going to show you how to create today.

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What to Include in a Life Coaching Business Plan

Your mission statement should encompass your business and what it involves. A stranger who picked the document up and read it would know exactly what your life coaching business does and how it does it.

You should think about the following areas:

• What do you do? – What role do you see yourself fulfilling and what problems do you solve?
• How do you do it? – Do you engage your clients face to face, over the phone, via email? What teaching methods do you employ?
• Who do you do it for? – Are you looking to improve life for your clients? Yourself? Your family?
• What value do you bring? – Whose problems are you solving? How are you making things better?

Use this section to explore a bit more about your life coaching business and expand on the previous one. Why have you chosen to start this business? What does the business mean to you and to your customers?

Think about things like:

• What type of business it is.
• What industries it serves.
• What its purpose is.

This will help you to better understand your life coaching business and its position.

In this section of your life coaching business plan, break down your products and the services that you offer to your customers. You should have a good sense of the things that you provide and what they cost, even if this is subject to slight alterations later.

Make yourself a full pricing list for the products you will sell, and a separate list for the materials that you will need to buy, with the cost of those materials alongside. Think about what the products you will have to buy will cost you, and start drafting a budget.

This will help you build your pricing sheet and ensure you are charging enough for the things you plan to sell to your customers.

A good life coach knows their clients intimately, so take some time to think about your ideal clients and who they are. This might be one of the most important steps, so take your time over it and refine it.

Look at the demographics you’re serving and think about how you can speak to them. What social networks do they use online? What sorts of things do they share and engage with? What are the current trends and how can you tap into them?

Build a profile for your client, looking at things like their age, gender, preferences, etc.

Once you have your client profile, you’ll need to start thinking about what problems you are solving for your potential customers. What are the pain points in their lives, and how are you going to make a difference to those points?

This area is about pinning down exactly what your business offers. Be specific and detailed. For example, don’t write:

“I will help people feel happier.”

“I will help people pinpoint what they need to change to feel happier.”

Being specific will ensure you have a strong foundation for your life coaching business.

Next, you will need to think about how you are going to actually attract those clients. How will you let them know about your life coaching business?

You should think about the areas that you can use to promote yourself. Do your customers spend a lot of time in yoga studios, and could you put up notices there? Are you going to advertise on public transport?

Social media is a very powerful promotional tool, but you should also think about tapping into forums and advertising in print.

Once you’ve identified the areas, think about what you will do to attract customers, such as free trials, etc.

Think about what makes you stand out and who you are up against. What sets you apart from the crowd and why?

Make a list of your products and how they differ from products offered by your closest competitors. It isn’t enough to just feel like you are a better coach; you need an edge that makes you a preferable choice for clients.

Make some bullet points of things that make your life coaching business different from the others in your industry, and use these to craft your angle so that you are clearly offering something unique.

You might already know in your head why you are passionate, but write it down in your life coaching business plan. It matters, and putting it on paper is a good way to stay focused on it. Many coaches leave this step out of the business plans, but it’s a really good way to motivate yourself and keep yourself on track.

Once you have written about what drives you in your life coaching business, you should add three bullet points that reflect the top strengths you will bring to it. For example:

• I will show my clients compassion.
• I am an excellent listener.
• I am good at identifying problems.

Few people enjoy looking at the financial side of things but it is important, and you don’t have to go super in-depth here. Simply spend a bit of time thinking about:

• What you want to gain financially from the business.
• What funds you will need to put into the life coaching business and where you will get these.

Write down some of the basic costs of setting up, such as website design, logos, promotional materials, and any training that you require.

It’s very important to know where you are going next, so make sure that you also write down some goals for the future. What are you going to accomplish in the coming months?

You can list as many goals as you like, but you should make sure that you have a six-month goal, a one-year goal, and a five-year goal as a minimum. These will motivate you to keep taking your life coaching business to new heights and stay on task, rather than losing your momentum.

A life coaching business plan is a must-have for any coach. It’s where you outline what you want to do in order to grow your business, how much time you will spend on each task, and what tools you can use to make it easier for yourself. 

To help, we have a free template in our resource library for coaches HERE . Sign up and you’ll see the coaching business plan in the business resources section: 

Let us know in the comments if you download it and use it in your business! Have fun with this process – don’t think of it as work but rather an opportunity to dream big about the future success of your coaching business!

About The Author

Hey! I’m Cass, a brand coach and the Co-Founder & Chief Brand Officer at Lovely Impact, a website template shop for coaches. I help coaches elevate their businesses with beautiful branding and websites. Here on our blog, my content focuses on branding, web design, and storytelling.

Hey! I’m Tee, a brand and marketing coach and the Co-Founder & CMO at Lovely Impact, a website template shop for coaches. I help coaches grow their coaching businesses digitally. Here on our blog, my content focuses on web design, marketing, business, and social media strategy.

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The ultimate guide to mapping out a rock-solid coaching business plan.

The 5-Step Roadmap To Create A Highly Profitable Coaching Business Plan Even If You're A New Coach

What's the first word that comes to mind when you see the word "coach" or "coaching"?

If you're a coach - and it doesn't matter whether you're just starting out or whether you've been coaching for decades - there's a high possibility that the words coach or coaching brings to mind things like:

These are all amazing elements of coaching and they're a big part of what you do as a coach and why you're a coach, but there's a word that's missing from that list...

It's the one word that's the difference between a successful coach who can create a ripple effect of positive transformation for hundreds - maybe even thousands or millions - of people and a coach who remains unknown, unseen, and unheard.

So, what's this mysterious word?

The word is BUSINESS.

There's a popular viewpoint in the coaching industry that when you serve with passion, and when you serve from the heart, clients will appear and your business will magically start to grow.

It's like that famous line from the movie Field of Dreams , "Build it and they will come..."

That sounds great in a movie but when it comes to the real world, it's a total lie!

Thinking you can become a successful coach if you put enough heart and passion into your work is one of the most dangerous and flawed beliefs out there...

And it's time to bury that belief for good.

The truth is the fastest, smartest way to become a successful, profitable coach is to create a strategic path for your practice with an awesome coaching business plan.

This Guide will take you through the exact steps you need to map out a rock-solid plan for your coaching business.

The best part? It works no matter where you are in your journey as a coach and unlike traditional business plans that can feel super intimidating and complicated unless you have a degree in business, this one is incredibly simple and absolutely effective.

Remember...

Coaching is a business.

The sooner you understand this fundamental truth, the faster you'll rise up along a profitable, purposeful path that allows you to serve more people and change more lives.

Ready to get started? Let's roll!

The 5-Step Coaching Business Plan

Creating your rock-solid coaching business plan , how to build a successful coaching business.

Ever heard of "Shiny Object Syndrome?" It's something a lot of smart, gifted entrepreneurs struggle with...

It's when you're distracted and sidetracked by countless creative ideas or exciting opportunities that you just can't seem to ignore.

Imagine this...

You have a great idea for an online coaching course around your niche or area of expertise as a coach and you start brainstorming and writing content for the course.

You're deep into your work and just as you're gaining momentum, a great coach you know - maybe someone you met in an online community or live networking event - reaches out to you.

Turns out, they have a great partnership or affiliation opportunity and they think it's perfect for you.

You're instantly struck by Shiny Object Syndrome. You abandon your course creation path and start chasing down this new opportunity with this coach.

A few days - or maybe even hours - later, you're hit with another idea. So you drop everything and start going at that new idea. And then, another idea pops up. And another and another... 

What if you start an online coaching membership ? Maybe you should write a book ? Maybe you should build out a year-long mastermind program? Or start organizing retreats and seminars?

And on and on it goes.

Pretty soon, you've raced down a hundred different rabbit holes, but you have zero results to show for it in your business!

So, let's get one thing straight right here, right now...

Shiny Object Syndrome is a fast-track to failure. A great business plan is the exact  opposite.

A coaching business plan gives you immunity. It protects you from having to chase one good idea after the next because  you already know what your business needs and you'll instantly reduce the uncertainty of how you're going to create revenue.

Think about it...

When you've mapped out a solid business plan and you know how you're going to make money in your coaching practice, you can actually start to predict how much money you're going to make each week, each month and each year.

You can even do this exercise in reverse and create a business plan based on your financial goals and how much income you want to make. So, you set the goal first and then reverse plan to meet that number.

With an awesome business plan in place, you'll be able to direct your energy to the tasks, projects, ideas, opportunities that will work to grow a thriving, sustainable coaching business that brings you satisfaction and a reliable income.

It will give you a clear roadmap of what you need to focus on and how to manage your time better. It will also give you a sense of security to know you will reach your financial goals if you stick to the plan.

Throughout the rest of this Guide, you'll learn the 5 steps to building an awesome coaching business plan that works for you to achieve the goals you desire.

The 5 steps or 5 Cs are:

Conversation

Before we get started on step 1 in the next chapter, let's kickoff with "secret step 0" in the Take Action section below to set the stage.

This is where you identify distractions and take an honest look at your mindset so you can easily create laser focus around building an awesome business plan and an extraordinary coaching business that stands the test of time.

A journey of a thousand miles begins with a single step.

That's an old Chinese proverb.

Your  single step  right now is to do a personal mindset check in and tune up.

Answer the following questions with 100% honesty so you'll be all set to take action and start creating a kicka$$ business plan as you move through upcoming chapters in this Guide.

Question #1

What are your current ideas around growing your coaching business ? This could be things like starting a membership site, building out a group program or anything else that comes to mind.

Note: Writing down your ideas will get them out of your head and help you pick a path that feels good to you as you start to create your business plan in the following chapters.

Question #2

Write down the names of people or places (online and offline) that have the power to distract you from tasks and projects in your business. This could be a good friend who loves to spontaneously invite you out for coffee, it could be endlessly scrolling through Facebook or Instagram or any other social media platform. List as many as you need to. 

Note: This helps you identify your weak spots or triggers to "Shiny Object Syndrome" that take you away from the focus and energy you need to build your business based on a clear plan.

Question #3

What are your minimum, mid-range, and "out-of-this-world-awesome" financial goals for your coaching business each month and each year, for the next 3 years? You should also list out 1 to 3 dream gifts you will give yourself - travel around the world, purchase your fantasy home, make a generous donation to your favorite charity - when you hit each of your financial milestones.

Note: These milestone numbers will give you in depth clarity and unshakeable motivation to build a successful coaching business that lets you live the life you want while doing the work you love.

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Life Coaching Business Plan Template

Download this free life coaching business plan template, with pre-filled examples, to create your own plan..

Or plan with professional support in LivePlan. Save 50% today

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What you get with this template

A complete business plan.

Text and financials are already filled out and ready for you to update.

• SBA-lender approved format

Your plan is formatted the way lenders and investors expect.

Edit to your needs

Download as a Word document and edit your business plan right away.

• Detailed instructions

Features clear and simple instructions from expert business plan writers.

All 100% free. We're here to help you succeed in business, no strings attached.

Get the most out of your business plan example

Follow these tips to quickly develop a working business plan from this sample.

1. Don't worry about finding an exact match

We have over 550 sample business plan templates . So, make sure the plan is a close match, but don't get hung up on the details.

Your business is unique and will differ from any example or template you come across. So, use this example as a starting point and customize it to your needs.

2. Remember it's just an example

Our sample business plans are examples of what one business owner did. That doesn't make them perfect or require you to cram your business idea to fit the plan structure.

Use the information, financials, and formatting for inspiration. It will speed up and guide the plan writing process.

3. Know why you're writing a business plan

To create a plan that fits your needs , you need to know what you intend to do with it.

Are you planning to use your plan to apply for a loan or pitch to investors? Then it's worth following the format from your chosen sample plan to ensure you cover all necessary information.

But, if you don't plan to share your plan with anyone outside of your business—you likely don't need everything.

More business planning resources

10 Qualities of a Good Business Plan

Simple Business Plan Outline

How to Write a Business Plan

Industry Business Planning Guides

How to Create a Business Plan Presentation

How to Write a Business Plan for Investors

How to Start a Business With No Money

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✔ Why You Need a Life Coaching Business Plan ✔ 6 Steps to Writing a Life Coach Business Plan ✔ Follow This Template to Write Your Life Coach Business Plan ✔ FAQs ✔ The Hardest Part is Getting Started

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Writing a life coach business plan: 6 tips for success.

We get it. You want to help people. You have been through the wringer, figured out how to master certain things, and want to share what you know with others. You want to change lives, but wait: You need to make money too!

About 25% of coaches succeed in making this a full-time sustainable business. And they do because they are prepared, have a clear plan, and can execute a well-thought-out strategy. 

If you want to make this a business more than a side hustle or Mother Theresa-style mission, you must know how to write a life coach business plan. So let’s go through the essential steps of how it’s done.

Why You Need a Life Coaching Business Plan

Before jumping into action, let’s consider why creating a coaching business plan is essential. 

You can’t build a business unless you have a clear vision of where to take it and an actionable plan to get there.

When you’re planning a road trip, you first pick a destination. Then, you define the route to get there and research the attractions you might want to see during your trip. And, of course, you factor in the expenses.

Your life coaching business plan should be treated the same way. 

You need a solid plan to navigate your business because it will:

• Help you to always know your next steps,
• Keep your work focused and efficient,
• Guide your strategic decision-making to achieve your business goals,
• Help you budget better and save money,
• Make it easier to foresee potential business challenges so you can prepare for them,
• Make it possible for you to grow your business, and
• Keep you accountable as a business owner.

So, let’s explore what it takes to pin down a business plan you can rely on.

6 Steps to Writing a Life Coach Business Plan

1. Define Your Mission

To create a life coaching mission statement for yourself, think about:

• What type of life coach you’d like to be,
• Who you are serving,
• How you want to help them, and
• Why you are doing it.

This is also known as your 30-second elevator pitch. Here’s an example of a life coaching mission statement:

“I’m a career coach and I help mid-career tech professionals advance in their fields. I provide strategic career planning for my clients to navigate the complexities of the tech sector, capitalize on their strengths, and unlock new opportunities. My mission is to bridge the gap between ambition and achievement, guiding individuals towards fulfilling tech careers.”

2. Define Your Target Market

If you don’t know who your target market is, you will have difficulty finding clients. To find out who your ideal clients are for your coaching business, answer the following questions:

• Who are they? 
• What are their needs? 
• Where do they hang out? 
• What content are they consuming? 
• How old are they? 
• How do they spend their money?
• What are their pain points?

The best way to find the answers to these questions is to talk to people who may be your ideal customers. Get out there and speak to the people you think could benefit from your service.

Where will you find these ideal customers? Get referrals from your network or look for people you can briefly interview in relevant online communities. You may offer them a small incentive if you want to conduct an in-person or longer interview with them.

Find out what they’re looking for in a life coach. What are their main challenges? How many coaching sessions could they commit to? Do they prefer them in person or online?

Gaining insights into your potential client’s needs before marketing your business will help you build a product that people want. In business lingo, it’s called a product-market fit, i.e., building a product that satisfies market demand. You need this to build a successful life coach business for the long term.

If you want to boost your chances of success when starting, build something people actually want, not what you think they want. Create your coaching packages using evidence from your customer interviews. That way, you can make sure your services answer real-world needs.

3. Create Your Life Coaching Business Tagline

Once you know who your clients are and what they want from your services, it’s time to get creative and think about the messaging you want to put out there about your coaching business.

Your tagline tells people in a short sentence who you are and what you do. It’s an opportunity to tell the world why they should choose you. 

To create an effective tagline:

• Choose clarity over creativity. This tagline must be clear in telling the client what you do. 
• Position yourself as an expert , and don’t be shy to be confident in your gifts. 
• Test your tagline and ask for feedback from others. This is a part of your market research. 

You don’t have to get your tagline perfect from the start; you can always reiterate it as your business and experience grow. A strong tagline will help you position yourself in the market and be an invaluable tool for your marketing efforts.

Here are some ideas for taglines that work well for life coaching services:

• Getting you unstuck
• Master your goals
• Be unapologetically you
• Small steps reap huge rewards
• Get more out of life
• Unlock your potential

4. Make a Financial Plan

To make your coaching business profitable, you’ll need a financial plan and a business model .

How much will you charge clients for a session? Will they need to book you for a set term or buy your coaching packages? How many clients will you need to work with weekly to earn your ideal income? 

Calculate how much time you can spend working with clients and on your business, and then work backward from there. These decisions will help you create a more predictable income and financially sustain your business.

Beyond covering your basic business expenses (including the salary you pay yourself) and paying your taxes, consider how much you’ll invest in growing your business. Having a solid plan for handling and reinvesting the money you make is an essential part of your business plan. 

5. Create a Marketing Strategy

Coaching businesses are highly competitive. However, the right marketing strategies can help you rise above the noise.

To know what you’re working with and gain a competitive advantage, you need to know what else is happening in the market.

Competitive analysis is not reserved for consumer products and tech-based companies. In an industry as massive and lucrative as coaching, competition is everywhere. Often, life coaches compete for the same clients.

To define who you’re competing with, consider these questions:

• Who are your main competitors? 
• What are they doing that is working? 
• Where are they advertising? 
• How are they attracting new clients?
• What sets them apart from the rest? 
• What techniques are they using to close the sale?

And most importantly, how will you do it better?

Think about your unique selling point and ways you can reach clients, for example, through:

• Creating free resources as lead magnets for your email marketing campaigns.
• Offering a free webinar or session to get leads and showcase your expertise.
• Using search engine optimization and a weekly blog post to get the attention of new clients.
• Making informative and engaging social media content to reach your audience.
• Creating online courses to attract one-on-one coaching clients.
• Speaking at in-person or online events and getting media coverage.

However you decide to get your message in front of potential customers, you need to set SMART goals to execute your plan. That means your business goals are specific, measurable, achievable, realistic, and time-bound.

For example, you may have the goal that you want to build an email list so you can start sharing weekly advice. You can’t conjure a list from thin air, so you will need to create a strategy for getting people to sign up for your list.

So your SMART goal could look like this:

“Get the first 100 people to sign up for my email list through Facebook ads in the next month.”

The key to a successful marketing plan is to break it down into digestible action steps. Small tasks carried out step-by-step are much more achievable than one big lofty goal.

6. Commit to a Timeline

Now that your business structure and long-term goals are clear, it’s time to define your next major milestones. You can set these goals every month, quarter, and year, using your business plan as your north star.

Though it’s best to stay consistent with the fundamentals of your business, you can revise your business plan from time to time. As you keep growing it over the years, you’ll be more clear on how you can capture its essence and market it effectively.

Follow This Template to Write Your Life Coach Business Plan

Lastly, we want to make it as easy as possible for you to create a simple coaching business plan and move on to growing your business.

Here’s a handy step-by-step life coach business plan example that you can follow to get started.

1. Business Name and Tagline

Make your business shine and tell people concisely who you are and what you will do for them. If you need some inspiration, you can find some here.  

2. Mission Statement

Your mission may change occasionally, but it should be a constant reminder of why you get up every morning and make life coaching your business. 

3. Executive Summary

Write this last. It should summarize all of the following sections in a paragraph-by-paragraph format. Your entire business will be easily explained and digested in the executive summary. This benefits both you and those you may share your plan with. 

4. Competitive Analysis 

List up to five of your biggest competitors. What are their strengths and weaknesses, and how do you plan to compete? Here’s a great how-to guide on doing a competitive analysis. 

5. SWOT Analysis 

Your competition has holes, and you likely will, too. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.

No one can be great at everything, but we all have positive and negative traits. Understanding those and working with them is a big part of running a successful life coaching business.

Tackle this head-on, and you will save yourself a lot of headaches and financial loss. Learn how to do your own SWOT analysis here. 

6. Target Market 

If you don’t know who your customers are, you can’t find them. Be as detailed as possible and paint a clear picture of your client so you can find the ones that need you.

7. Financial Plan

Create a projection of your annual income and define the financial goals you would like to reach. Create a budget, and consider working with a bookkeeper to save on your taxes and grow your savings.

8. Marketing Plan

How are you going to launch your business? Where will you find your clients? What collateral will you need to do so? Lay it out in detail and refer to it often. This part of your plan is a working document that will change as you learn and grow.

How Do I Start a Life Coaching Business?

To start a life coaching business, begin by defining your niche , obtaining relevant training or certification , creating a business plan, setting up a professional website , and marketing your services to attract clients.

Is Life Coaching Profitable?

Yes, life coaching can be profitable. In this fast-growing industry, your earning potential depends on your client profile, your level of expertise, and how well you market yourself.

Many successful life coaches earn a substantial income (some well over six figures) by providing valuable services to their clients.

How Much Does It Cost to Start a Life Coaching Business?

It depends on how much you’re willing to invest in your certification, marketing costs, and office space. While each can easily come up to thousands of dollars or more, you can bootstrap your way to life coaching with minimal costs.

It’s possible to set up your business while keeping your expenses low by taking a free certification program first, setting up a home office and running your sessions online, creating your own marketing materials, and using low-cost marketing strategies .

The Hardest Part is Getting Started

Hopefully, this guide has clarified how you can start crafting your master plan for your life coaching business. If you want to dig into more nifty resources, we recommend our free template pack for coaches .

And if you’re ready to automate your coaching business, Paperbell is here for the job. It’s an all-in-one client management tool that handles your schedule, payments, contracts, and more.

Try Paperbell for free with your first client.

Editor’s Note: This post was originally published in February 2023 and has since been updated for accuracy.

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Life Coaching Business Plan Template & Guidebook

If your goal is to build a successful life coaching business, the #1 Life Coaching Business Plan Template & Guidebook can help get you there. This comprehensive guidebook provides the essential tools to craft a powerful business plan and strategy that sets you up for successful growth in the life coaching industry. With comprehensive advice, step-by-step instructions, and real-world examples, this template and guidebook will give you everything you need to create a winning life coaching business.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Life Coaching Business [11 Steps]
• List of the Best Marketing Ideas For Your Life Coaching Service:

How to Write a Life Coaching Business Plan in 7 Steps:

1. describe the purpose of your life coaching business..

The first step to writing your business plan is to describe the purpose of your life coaching business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a life coaching business:

The purpose of our Life Coaching business is to empower our clients to create and live a more fulfilling and meaningful life by helping them define and achieve their goals. We strive to create an atmosphere of acceptance, respect, and collaboration so that our clients can incorporate new tools, acquire understanding, and make meaningful changes in their lives.

2. Products & Services Offered by Your Life Coaching Business.

The next step is to outline your products and services for your life coaching business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your life coaching business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your life coaching business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your life coaching business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a life coaching business?

• Computer or laptop
• Internet connection
• Business license (Check with your local government)
• Accounting Software or Services
• Business Insurance (Check with your local insurance provider)
• Marketing materials & website

5. Management & Organization of Your Life Coaching Business.

The second part of your life coaching business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your life coaching business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Life Coaching Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a life coaching business varies based on many different variables, but below are a few different types of startup costs for a life coaching business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your life coaching business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your life coaching business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your life coaching business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Life Coaching Business Plans:

Why do you need a business plan for a life coaching business.

A business plan is essential for a life coaching business as it provides a roadmap to success by outlining operational strategies, marketing plans, and developing financial projections. It helps the business owner identify their goals and objectives, understand the potential markets for their services and plan for future growth. A comprehensive business plan also helps the life coach determine how much capital is necessary to start the business, and includes steps to take to make sure that their new venture is successful.

Who should you ask for help with your life coaching business plan?

A business consultant or mentor with experience in the industry can help you develop a life coaching business plan that is tailored to your individual needs and goals. Local small business development centers can often provide assistance as well. Additionally, online resources like SCORE and SBA.gov may also be of use.

Can you write a life coaching business plan yourself?

Yes, it is possible to write a life coaching business plan yourself. Creating a business plan will help you define and organize your thoughts and create an actionable strategy to achieve your goals. It will also help you secure funding from investors or lenders and attract key personnel to join your business. A basic business plan should include an overview of the business, a market analysis, a financial plan, and an operational plan. You should also consider including information about the services you will offer, your target customers, your marketing/promotion strategies and any other relevant details about your life coaching business.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

Grow Your Business

How to start a life coaching business, share this article.

If you’re someone with an entrepreneurial spirit and a passion for helping others, consider starting your own life coaching business! Life coaches can make an uncapped income as there are plenty of ways to monetize your knowledge, including live coaching sessions, downloadable resources, social selling, and more. This guide will walk through the basics of getting set up as a life coach to start growing your industry reputation and earning your first few clients. Already know a bit and looking for something specific? Dive straight to your preferred topic here: 

Table of contents:

The role of a life coach

• Requirements to be a life coach
• Training and certification requirements
• Marketing your life coaching services
• Tips for getting your first client
• Tips for growing your business

Free life coaching templates

Life coaches are important for helping people achieve their goals. There are many specialities in the field, including focuses on:

• Relationships
• Daily habits

Many coaches are there to help clients understand their goals, identify metrics for success, and build a plan to get there within a specific time frame. Life coaches are there as a support system to help work out new solutions to challenges that are preventing their clients from reaching the next level of improvement that they’re seeking. Most client and coaching relationships will last for the long-term.

Requirements to start working as a life coach

While getting started as a life coach is a relatively easy thing to do, it’s not for just anyone. Here are a few core things you’ll need to get started:

Experience 

Of course you’ll need some life experience of your own. Depending on where you specialize, this experience can vary greatly but you should aim to have at least 5 full years of experience in your niche with a diverse range of situations covered in that time. Ideally, this experience will also be from a professional setting rather than personal experience but it’s okay to have your knowledge come from a blend of sources. 

You’ll also need to have your own coaching program built out that you can walk clients through. This doesn’t need to be tried-and-tested, but it would be great if you could get feedback on it from someone in your target audience before you use it in practice. 

As you’ll work closely with many of your clients, it is important to have strong interpersonal skills such as being good at making connections with strangers, high emotional intelligence (EI), and the ability to be confident on camera (if you plan to host your coaching sessions over video conferencing). And don’t forget about great business management skills! Most of your time will involve managing budget, scheduling meetings or content, and reporting on business successes. 

At your core, you will need to be passionate about what you’re teaching. As a life coach, your main responsibility is to inspire clients to lead a better, more fulfilling life. You can’t do this if you’re not passionate about the conversation or if you don’t feel motivated to support other people on their own journeys.

Fortunately, becoming a life coach isn’t cost prohibitive for most people. With your own skills and passion, you’ll just need to invest in a few tools, certification programs, and business administration costs such as website domains and legal set-up fees. If you’re hosting your life coaching business in a physical office space, you will also need to consider the costs of renting the office, commuting to and from work, and purchasing office supplies or furniture. 

Getting life coach training and certification

It sounds a bit funny, but to become a life coach to train other people on how to live out their dreams, you also need to go through a bit of training. This helps prove your knowledge and experience to new potential clients. The International Coaching Federation (ICF) hosts plenty of courses to learn from in a variety of niches or you can check out these highly rated courses . They also offer continuing education credits that can be earned through attendance at select conferences in your niche, completion of more advanced courses, or engagement with the local community on select initiatives related to your coaching business. 

Building a life coaching business plan

The key to making your life coaching business successful is to thoughtfully and strategically plan how your business will be created, organized, and promoted. 

Understanding your target audience

Before you begin anything related to content creation, lead generation, or actual coaching, take time to understand your target audience . It’s best to have a narrow view on who you plan to serve. This will help you develop niche marketing messaging that will have a better appeal to your audience and a higher likelihood of leads converting to sales down the line. For example, rather than saying you’re wanting to help anyone improve their relationships, focus on a more specific segment such as recent divorcees or LGBTQ+ groups.  

Determine your own personal brand

Building your own personal brand identity helps potential clients understand and relate to you before they’re officially working with you. Your brand identity should strongly align to the needs and interests of your target audience. It will also affect which marketing channels you use and the style of your content later on. As you grow and experiment with your business plan, your brand identity can change too. But it’s good to have a starting point when you first kick things off.

Identifying marketing strategies

There are plenty of marketing tactics you can use to promote your new life coaching business. Before we jump into different approaches, it’s important to understand the difference between these terms:

It’s important to consider your budget when selecting a marketing tactic. There are many paid and unpaid options available. For example:

Paid marketing options include:

• Advertising on social media or search engines (eg. Google Ads )
• Out-of-home advertising such as posters or billboards
• Paying a third party website for a digital newsletter or display ad sponsorship

Unpaid marketing options include:

• Writing your own content like blogs or whitepapers to try and earn SEO rankings
• Recording podcast episodes and posting them on YouTube
• Designing your own social media graphics with Canva and posting them

Creating a sales funnel

A sales funnel guides your audience from the first time they learn about your business to becoming a paying client, to eventually even referring your services to a new client. The most basic sales funnel stages include:

• Awareness: This is the stage where you introduce your life coaching services and explain the benefits. 
• Intrigue: At this level, you’re trying to convince a potential client why they should keep learning more about you. Leverage thought leadership here.
• Decision-making: Now, it’s important to show how your coaching services stand out from other life coaches in the area. Talk about your certifications, experience, and industry reputation.
• Conversion : This is when clients are ready to start paying you for your services!
• Post-conversion : Consider upsell or referral opportunities to boost customer loyalty. Maintaining a customer is much more affordable than generating a new client, and it helps improve your reputation to have long-term clients. 

Planning the post-sell customer journey

Maintaining and growing with your client base in the long-term is so important that it deserves its own focus area. The main three ways of leveraging your existing clients for future success are:

Keeping them where they are

Repeat, stable business is good business! Having regularly recurring meetings and working with your client on their life goals can bring in steady income that is an important part of growth. As a best practice, don’t try to convert all of your existing clients to higher paying options at the same time. You’ll appreciate having some stability in your business. 

Finding opportunities for upselling

If a client is ready to take their services to the next level, such as going from a group coaching session to a one-on-one training session, make sure you have a plan to nurture them through this upsell process. You can also offer upsell opportunities by selling content like e-books, research papers, workbooks, or other tools that they need to reach their goals. 

Encourage customer referrals

The Net Promoter Score (NPS) is a measure of success for many businesses as the higher this number is, the more likely your customers are to scream your name from the rooftop when it comes to referring new business your way. It’s a good idea to run your NPS surveys with clients every few months. You can also consider offering clients incentives for referrals, such as 50% their next session. This is a fantastic approach to use if you have a customer who may not be able to spend more money with you or may not use your services for a long time but still had a positive experience. 

Tips to get your first client

• Build network connections . Building trust with your clients is necessary for your first interactions to go well, and what better way to earn trust than by having a connection to someone in your network! Talk with your LinkedIn connections, meet people at events, or engage with community activities.
• Engage with your target audience where they are . Spend time researching where your target audience finds information and post your promotional activities solely on those channels. Don’t spend time experimenting with new channels with less engagement from your target audience until you have a strong cash flow and book of business. 
• Offer a free trial . This isn’t a good long-term solution for monetizing your skills, but it is a good way to give new clients a risk-free way to try working with you. For example, offer your first five clients to have their first session with you for free. 
• Focus on establishing industry reputation . Continue developing thought leadership content like blogs or whitepapers, or be a guest on an industry podcast . This helps you generate leads and shows off your knowledge.
• Build a strong online presence . When potential clients search for you, they’ll want to see that you have an online presence to show credibility, which may include a website, LinkedIn profile, contributions to other websites, or other relevant social channels. Over time, reviews & testimonials will help here too. 

How to scale a coaching business

• Continuously experiment. Even if you have experience running other businesses, the strategies that made that business successful might not be the same ones that make this one grow. A/B testing is a popular approach to experimentation that allows you to test multiple versions of something at the same time then eventually convert to just using the top performer after the testing period ends.
• Collect feedback. Ask your clients about their experience. Reflect on things like how they found out about your business, what they wish they knew early on, and areas that they’d like to see you improve or expand. Try not to take feedback too harshly and instead view it as areas to continue growing your business in a positive direction that works best for your client base.
• Identify new areas of expansion. You can do more than just selling your coaching services. A great way to scale sales is to monetize digital products , like templates, workbooks, or pre-recorded videos. If you’re using Thinkific to host your coaching business, you can also leverage it for selling digital products too. 
• Leverage automation and AI. Many coaches spend a lot of their day planning, creating schedules, ideating solutions for their clients to improve, and organizing their work. Luckily, AI can take some of that workload off your shoulders! For example, SaneBox can help with managing your inbox when it’s full from client requests and Descript can help you edit videos or podcasts before you add them to your coaching courses or marketing content.
• Don’t be afraid to cut things that aren’t working. As you continuously review and experiment with things around your business, you’ll notice things that do work well and things that don’t . Whether it’s a marketing strategy, approach to coaching, or even if your niche just doesn’t have as much traction as you thought it would, know that it’s okay to pivot. It’s okay to stop putting energy into areas that aren’t providing a good investment and re-allocate those resources into new areas. 

We wanted to provide a bit of extra support as you kick off your life coaching journey. Try one of these free life coaching templates that will help you with setting goals for your business, reflecting on your business growth and experimentation, logging client progress, and more.

Several templates can also be used to guide clients through their own goal setting and progress check-ins! 

It’s an exciting and easy time to start a life coaching business! If you’re passionate about helping people in a specific niche, trained to coach people, and ready to put your business management skills to work, this role could present you with uncapped income. With so many great digital tools available, the set-up requirements and costs are fairly low to get started. Many content creation, promotional, and client management tools have free plans available and platforms like Zoom can allow you to connect with clients from anywhere. Thinkific gathers your material in one place to make it easy for new potential clients to find and purchase your life coaching services, whether that’s in the form of live sessions or downloadable assets. Try Thinkific for free here today ! 

With 4+ years of experience leading brands in the tech & security industry, Alexandria loves to write about making the day-to-day more efficient. In her free time, she enjoys biking and traveling to find hidden gems around the world!

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9 Steps To A Lean Life Coach Business Plan (2024)

You’re about to learn how to create a lean life coach business plan, and why this is essential for a successful coaching career.

As an experienced life coach, I can’t emphasize enough the importance of a well put-together business plan. 

However, I also strongly believe that a ‘lean’ plan will ultimately prove to be more beneficial to you. 

Read on to discover why…

Life Coaching Business Plan: Why Less Is More

A business plan is your written strategy for success.

Without one, you’re essentially ‘winging it’ with your coaching business and hoping for the best. 

With one, you’ll make smarter, more focused and more rational decisions. You’ll find it easier to spot potential obstacles and opportunities for growth.

Perhaps you won’t be surprised to hear that a business owner who writes a business plan grows their company 30% faster on average.

What is a lean business plan – and why should a life coach use one? 

A ‘lean’ business plan has all the unnecessary details trimmed off – leaving a concise document detailing only the most essential ingredients for success.

You can ‘get away’ with writing a lean business plan when you have no plans to present it to outside investors. 

But there are more advantages than saved time… 

The main advantage of a ‘lean’ business plan is that it’s easy to revisit and adjust and – if you want to thrive within your life coaching business – you are encouraged to do so every month.

It’s the continuous tweaking of your business plan – based on the ups and downs you encounter – that cultivates tremendous growth. 

Lean business is around the process of plan, do, check, adjust (PDCA). You can learn more about this strategy in Eric Ries’ book ‘ The Lean Startup ’.

How To Write A Lean Life Coach Business Plan

Here are the nine sections you should definitely add to your lean life coaching business plan. 

1. Mission Statement

This is a short explanation of why your life coaching business exists. Try and explain this in one or two sentences. 

Within your mission statement, consider explaining who you can help, what changes you can bring to people and how.

Your mission statement is a key part of your coaching business plan. It should be used to guide all future business decisions. 

Related: A Goal Without A Plan Is Just A Wish: Steps For Effective Planning

2. Vision 

This is a future-oriented statement explaining your ultimate long-term goals.

Why are you starting your coaching business? How would you like to impact your clients, your local community or the planet as a whole?! 

Ideally, this vision is extremely detailed and inspires you to keep going when times are tough. Add it to the top of your business plan, alongside your mission statement. 

As Nietzsche famously said: “He who has a “why” to live can bear almost any “how’”.

3. Business Type/ Description

You can set up your business as a sole proprietorship, partnership or a limited liability corporation (LLC).

There are tax and other financial implications based on what you choose. Sole proprietorships and partnerships are more or less the same, except the former only has one business owner. A key difference to note is that business owner(s) aren’t responsible for business debts when they set up an LLC.  

Your plan should state what type of business you are planning to set up, plus a business description, which lists what products and services you offer, plus the cost of them. 

While it is possible to be a generalist life coach, there are several niches that you may want to consider entering.

These include:  

• Mindset coaching
• Business coaching
• Empowerment coaching
• Grief coaching
• Intimacy coaching
• Career transition coaching
• Intuitive coaching
• Life coaching for teenagers

Ideally, you’ll have decided the niche you want to break into before you create your life coaching business plan, so you could choose a training course that best supplements these desires.    

Related:  Expert Tips – Marketing For Coaches – Next Level

5. Target market

When you try and appeal to everyone , you’ll often fail to make a strong impression on anyone.

It will be extremely difficult to gain a reputation as the best life coach on the planet, but it is certainly possible to become the go-to coach in a specific niche. 

This is why it’s important to choose a defined target market and gear all your marketing towards them.

You’ll want to market yourself in the places where your target audience spend time and speak in a language they relate to.

When choosing your market, you’ll want to define demographic factors such as: 

• gender; 
• spending power; 
• geographical location; 
• occupation. 

Your life coaching business plan should paint a picture of your ideal customer in as much detail as possible. The more specific, the better.

In order to find the best market for you, consider what group you will naturally be able to provide the most help to. Who will you get the most satisfaction from helping? Make sure you price your coaching services so your target market can afford them!

It will also help for you to gather data on the supply and demand for your niche of coaching among this demographic. Is there a gap in the market you can fill? Perhaps you will need to conduct some research to find out.  

It will certainly make it easier for your business to succeed if there is a high demand for your brand of coaching within your target market (especially if there is a low supply).

6. Unique selling point 

In order to become the number one in your chosen niche, you need to have a unique selling point. What will make your target audience choose you over your competitors?

You would certainly need to figure this out to make outside investors want to fund you – but it’s just as important in a ‘lean’ business plan too.

If you can’t explain why people would choose your business, it’s probably not a good business plan!

It’s highly recommended to conduct a SWOT analysis of your business within your coaching business plan. These are your strengths, weaknesses, opportunities and threats. 

If you can successfully identify your weakness and threats – and create a solid strategy to overcome them – this really helps to make a strong and compelling business plan. 

Related:  How To Make A Life Plan Worksheet That Succeeds

7. Marketing

If you’re a member of the International Coach Federation (ICF), you’ll have access to plenty of materials to help you market your business successfully. Most ICF-accredited training programs will include information on marketing your coaching business too. 

Still, your personal marketing strategy should mostly be determined by:

• your target audience (and where they spend their time);
• your marketing budget. 

However you choose to market yourself, it should be written in this section of your lean business plan. Include your estimated monthly costs for each marketing platform. 

8. Competition

This may well be covered in the ‘threats’ section of your SWOT analysis, but you can go into more detail in this section of your business plan. 

Who are your competitors? What are their unique selling points? How much do they charge for their services? What makes you better than them? Can you justify charging a higher price than them?  

Related:  How To Get Coaching Clients: 13 SECRET Tactics

9. Finances

In a formal business plan, this section would need to be extremely detailed, so third parties could see they were making an intelligent investment.

For a ‘lean’ business plan, you don’t need to go into quite as much detail. Still, it will be important for you to make sure you are launching a financially viable business. 

It’s easiest to create this in a spreadsheet. A formal business plan will typically include financial projections for at least three years. With a ‘lean’ business plan, you can perhaps get away with making projections for the upcoming year. Remember, you’ll be updating a ‘lean’ business plan on a monthly basis. 

At the very least, you’ll need your lean business plan to include:  

• Spending budget. How much will you need to spend to launch your business? How much are your monthly expenses? Make an estimate for each of them. Remember to include taxes. 
• Sales forecast. This might be harder to predict than your spending. That’s why it’s a good idea to make three forecasts: a worst-case scenario forecast, target forecast and stretch target forecast. Your sales forecast should determine your spending budget. That’s how you ensure you don’t overspend.

You don’t need a business degree in order to create a sales forecast. Simply make an educated guess based on research of other businesses in your niche. Below, I have added some details of how much an average life coaching business earns. 

Related:  Insights On Developing A Coaching Plan

How Do You Start A Life Coaching Business?

One great advantage of setting up a life coaching business is that you don’t need to do too much to get started.

Most coaches work from home and communicate with clients using online video calls.

Still, there are few tasks you need to complete in order to become a legitimate business owner.

Here is a checklist for you:

• Register your business name. 
• Register your business with the government for tax purposes.
• Set up a website. You’ll need to pay annually for a reliable hosting provider and a domain name.
• Set up a business bank account and online payment processor.  
• Purchasing your equipment. A great bonus about life coaching is that overheads tend to be low, especially if you’re working online. Most online coaches work from home, so they only really require a decent camera, microphone and internet connection.  
• Commence marketing. Once you find a marketing formula that brings in more than it costs, begin scaling!  

Related: Expert Strategies On How To Get Clients As A Life Coach

How Do You Get Clients As A Life Coach?

You now know how to become a life coach , but knowing how to become a life coaching success is a completely different problem. 

This question should be answered fully in the marketing of your coaching business plan.

Some coaches make use of social media. Others gather leads via a blog or a YouTube channel. 

If you’re only engaging in face-to-face coaching, it might make more sense to explore offline marketing channels.  

The most important thing to figure out is where your target market is most likely to see your marketing efforts.

Many coaches turn their leads into customers by offering a free trial consultation. This helps both the client and the coach see whether working together will be mutually beneficial.

Related:  Proven Strategies To Take Massive Action

What Qualifications Do You Need To Be A Life Coach?

Life coaching is an unregulated industry, so there is nothing stopping you setting up a coaching business and marketing your services with no qualifications today.

However, the reality is: it’ll be extremely difficult for you to attract any clients, let alone a steady stream of them, with no qualifications.

Anyone who does a couple of minutes of research about how to find the best life coach will be advised to work with a certified individual.

At the time of writing, an ICF-accredited certification is by the far most prestigious qualification that a life coach can gain. 

The International Coach Federation (ICF) is globally-renowned for having the strictest standards when accrediting life coaching courses, so it’ll be well worth your time to get an ICF-accredited certification. 

To help you choose your training course, I have listed 6 of the best ICF-accredited life coach accreditations . 

How Much Money Will You Earn As A Life Coach?

Life coaches are free to charge clients as much as they want.

Ultimately, they’ll charge as much as the laws of supply and demand dictate. Typically, demand is higher for coaches with the best qualifications and most experience, which is why you can expect a life coaching business to earn more money the longer you stay in it. 

A solid marketing strategy and a variety of products and services will go a long way too. 

With that said, there have been many studies conducted to help estimate what an average life coach can expect to earn in a year. 

A recent study commissioned by the ICF and conducted by PriceWaterhouseCoopers concluded that the average global salary of life coaches is $51,000 . That was based on data from over 15,000 coaches in 137 countries. 

The survey found that the country you’re based in has a huge impact on your earning potential. Click to discover the average life coach salary in your part of the world. 

Lean Life Coach Business Plan Template

Any more questions about a life coaching business plan?

I hope this guide will help you understand the importance of penning a lean life coaching business plan – and give you the information you need to get started.

If you have any more questions about putting together a coaching business plan, you can ask them in the comments section below. 

It would be great to hear from you!

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About The Author

Bijan Kholghi is a certified life coach with the Milton Erickson Institute Heidelberg (Germany). He helps clients and couples reach breakthroughs in their lives by changing subconscious patterns. His solution-oriented approach is based on Systemic- and Hypnotherapy.

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Life Coaching Business Plan Sample

Published Sep.11, 2018

Updated Apr.23, 2024

By: Jakub Babkins

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Table of Content

Life coaching business plan for starting your own practice

Are you planning how to start your own life coach business ? Life coaching is an essential part of society considering the high number of people who need the services of a professional to help them attain their personal goals. Since time immemorial, coaching has been part and parcel of the society as there were no formal schools or training centers. Today, the demand for life coaches has increased because many people are stressed, overwhelmed and confused about how to make certain key choices in life.

Factors such as the high cost of living and stress have contributed to the increase in demand. To succeed, you need to have a genuine passion to help and advice others. In the U.S, statistics have indicated an average annual growth of the life coaches industry by 3.3%. As a thriving industry, it’s definitely a good business idea with great potential so long as you have a good business plan for life coach in place.

Executive Summary

2.1 the business.

The life coaching business will be registered under the name MakCoach LLP and will be based in Detroit, Michigan. The business will be owned by Paul Markins who is an experienced Personal Life Coach. This life coach business plan is supposed to guide you on what you need to know and what should be accomplished to ensure a successful set-up and strategic positioning of the business.

2.2 Management Team

Before having an interest in entrepreneurship and coming up with a life coaching business plan , Paul worked as a professional life coach and boasts of over 25 years’ experience in this field. In the course of his career, Paul Markins worked in federal institutions, the private corporate sector as well as the sports industry. He had a privilege of working for various reputable entities across the United States, Canada and Mexico.

2.3 Customer Focus

Mark has been a personal life coach for many years; over two decades and has seen how the industry has changed over the years. Given his extensive experience, he has offered his services in various industry sectors including numerous government agencies. With this in mind, Paul Markins has an in-depth understanding of the industry trends and is therefore in a good position to know who needs his services most.

2.4 Business Target

Paul Markins knows where he needs to concentrate his energy and focus to ensure MakCoach LLP reaches out to the right target market and acquire an attractive revenue for the life coach business plan . His intention is to have this business plan for life coach be the most famous and highly rated life coaching service in Detroit, Michigan and the surrounding areas. With his in-depth skills and industry knowledge, it is expected MakCoach LLP will easily meet its business targets.

Company Summary

3.1 company owners.

Paul Markins is an experienced life coach with extensive skills in life coaching. Before venturing into life coach business plan , Paul worked for various establishments both in the private and public sector across United States, Canada and Mexico. Paul knows how to run an effective life coach business model as aside from his professional experience, he has also bagged numerous life coaching and personal training certifications. He is a certified NPL Practitioner and is a member of numerous regional and global federations such as the International Coach Federation. A lot of people across various social, economic and cultural circles have benefitted from his expertise.

3.2 Aim of Starting the Business

Even though life coaching has been there for long, the demand for these services has continued to increase. With an increasing segment of the society that needs professional help, Paul knows too well now is the best time to chat his own way and invest in a life coach business plan that he has direct control over. Having been in the industry and witnessed all the changes, this sample life coaching business plan if well implemented has a good chance of building a successful business brand. As time goes by, the demand for personal life coaches is expected to increase.

3.3 How the Business will be Started

MakCoach LLP is expected to launch operations after doing an extensive market research. Even though Paul Markins is an experienced life coach with extensive experience, he intends to hire a team of financial analysts and professionals to come up with a detailed financial analysis for the business. Paul is also relying on his vast knowledge of the industry to propel the business plan for life coaches to success. With a team of business consultants handling the figures and projections, it is expected the life coach business plan will get its priorities right.

Services for Customers

MakCoach LLP plans to offer a wide variety of services in order to have a better foothold of the market and compete effectively in the industry. Paul Markins knows his experience, his personal and professional image as well as track record as a personal life coach will help him to effectively market his service and grow the clientele base. Aside from individual customers, MakCoach is keen to customize its services for the corporate industry to increase its revenue base.

In this coaching business plan , the plan is to be creative and diversify as much as possible. Paul wishes to stand out and create as much personal linkages and connections as possible. When planning how to start a life coach business , you need to get your priorities right and tailor your products and services to respond directly to market needs. In this regard, MakCoach LLP intends to offer the following products and services.

•  Family and Relationship coaching
•  Personal Improvement coaching including career and financial coaching
•  Business coaching
•  Weight Loss and Fitness coaching

Marketing Analysis of Life Coaching Business

Life coaching has been around since time in memorial only that the techniques and environment for coaching has changed. With the current economic challenges and career-related pressure, many people are now seeking the services of a life coach. As an ever expanding industry, there are plenty of opportunities for entrepreneurs to tap into.

The Life Coaches Industry is the United States is expected to grow at an annual average rate of 3.3% to around $868.5 million. In the U.S. alone, there are more than 12,000 licensed and registered life coach companies with almost over 18,000 employees working in the industry.

In this coaching business plan , MakCoach LLP has carefully surveyed the industry and identified opportunities to be tapped into. This coaching business model template shows how MakCoach LLP has carried out an extensive market analysis knowing where to focus on to grow revenue shares.

5.1 Market Segment

For MakCoach LLP to achieve its revenue targets, the life coach business plan has identified the appropriate markets that are in need of both personal and business coaching. Detroit is a large city that presents many untapped opportunities which this life coach business plan sample hopes to identify and harness. If you intend to venture into this business, finding a comprehensive life coaching business plan pdf online with step-by-step instructions is a great idea to help you have an idea of the target market.

Business plan for investors

5.1.1 enterpreneurs and business executives.

Detroit is a large city with many corporate establishments and a large number of business plans for life coach professionals and executives. With a desired to succeed and build sustainable brands, many entrepreneurs are increasingly looking for professional and quality business coaching services. This is a lucrative market as new businesses keep opening in the city and entrepreneurs are in need of personal coaching to help them acquire skills that will help them to excel in business.

Marketing a life coaching business should place emphasis on this target group as it has endless opportunities to explore and promises great revenue channels. Corporate executives keen on getting a good professional image and outlook are also in need of coaching services especially in areas such as corporate governance and management.

5.1.2 Celebrities and Public Figures

Celebrities and personalities have an image and perception to protect. MakCoach LLP stands a good chance to offering different types of coaching services to individuals such as celebrities and politicians as well as groups who’re always in the public limelight. These people know the society is likely to judge every decision they make and therefore, require a professional to constantly advice and guide them on the right way to do things. In this life coach marketing plan , strategies have to be put in place to connect the business plan for life coach to personalities in various segments of the society.

5.1.3 School Leavers and Students

MakCoach LLP offers coaching services which touch on areas such as career choices and excelling in school. For students still in school, constant coaching and mentoring is important to enable them excel in their academic work and attain good grades. School leavers on the other hand are at a critical stage in their lives where they need to be guided appropriately in order to make wise career selections. This is definitely a good market for the life coaching business considering the high number of schools and colleges.

5.1.4 Government Officials

Because of the sensitivity of their jobs, government employees need to be constantly guided and advised to excel both at the workplace and personal lives. Due to the nature of their responsibilities, having a personal coach to advise them on a wide variety of issues is an opportunity MakCoach shouldn’t let go. To enhance performance, governments are increasingly looking for professional life coaching services for their employees in different cadres.

5.1.5 Sports Men and Women

The services of a personal coach are highly appreciated by sports professionals. In most cases, these individuals have to endure numerous challenges and require coaching services to boost morale, increase optimism and improve personal image. MakCoach LLP has an incredible chance to market its life coaching services to stakeholders in the sports industry. With an ever increasing sports industry, there are numerous new opportunities the life coach business plan can tap into to make its impact and usefulness felt in the sporting industry.

5.2 Business Target

MakCoach LLP intends to establish itself as one of the most popular and reputable life coaching businesses in Detroit. Detroit is a large city with good success prospects across all the customer target groups. Good life coach business plan examples should clearly highlight the intentions or gains a business hopes to benefit right from its inception. In this case, MakCoach LLP hopes to achieve an annual sales growth of between 20%-25% in the first three years since opening.

L-1 Update – RateGain – KOTHARI, Siddharth

Alex has been super quick with his responses to my emails. I needed my business plan very urgently and whether it was Saturday or Sunday, Alex made sure that i had my plan ready in the shortest amount of time possible. My finance team is also very impressed. Well done Alex and keep up the good work!!!!! Sid Kothari Executive Vice President www.rategain.com 470.422.8578 8300 Greensboro Drive, Suite 800, Mclean, VA, 22102

5.3 Product Pricing

This life coach business plan pdf and outline indicates how pricing for MakCoach LLP will be implemented. Before making a decision on prices, extensive research was carried out to check what competitors are charging and carefully structure the prices to attract customers but at the same time, ensure profit margins are maintained.

MakCoach LLP intends to come up with an effective marketing strategy to help the life coach business plan target all the crucial target markets. The success of any business plan for life coach depends on the nature of marketing strategies implemented to sell the business brand in a highly competitive market. This life coaching marketing plan template clearly outlines the strategies the business intends to roll out in order to reach out to prospective customers in need of life coaching services. When choosing a marketing strategy, it is important to come up with a sustainable and cost effective strategy that will support the growth of the life coach business plan .

6.1 Competitive Analysis

MakCoach LLP has done an in-depth market research to have a better understanding of the market. The secret is to put in place the most effective strategies that will not only help the business to compete favorably but increase the market share as well.

6.2 Sales Strategy

For MakCoach LLP to effectively reach the intended customer segments, this life coaching business plan template free intends to use the following strategies to advertise the services offered by the business.

•  Send out introduction letters, flyers and brochures to different sectors of the target market in order to create awareness about the business
•  Organize a grand opening party and invite guests from all the targeted markets in order to create awareness about the life coach business plan . During the event, take time to interact with guests and explain various products and services offered.
•  Take part in exhibitions, seminars and other industry related events in order to bring MakCoach into the limelight and establish connections with other stakeholders.
•  Use social media networks such as Facebook and Twitter to advertise the life coaching business to an online audience. Use of Google Ads is also an excellent idea.
•  Design a simple but powerful search engine optimized business website in order to boost visibility in search engine rankings.
•  Advertise the life coach business in local directory listings such as Yellow Pages and other business directories
•  Utilize both local print and broadcast media channels such as television, radio, newspapers and magazines.
•  Post information about the business and coaching services on school bulletin boards and other places such as libraries and local coffee shops.
•  Direct marketing approach which involves use of friends, family, relatives, colleagues and other referrals to spread the word.

6.3 Sales Forecast

Before starting life coach business plan  operations, a comprehensive sales forecast has been formulated to guide the business on what it can anticipate in terms of sales volumes.

Personnel Plan

When determining the cost to start a life coach business , it is important to factor in a personnel plan in order to have an idea how much you will spend on your personnel. Personnel plays a key role in determining the success of a business and therefore, it is good to put in place a good strategy to hire the best staff.  With a good team of staff in place, a business can be assured to achieve its targets and have exceptional results.

The business will hire members of staff to work in different departments but all cooperating towards a common goal to see MakCoach LLP succeed. As part of the plan to start a life coach business , Paul Markins has put in place a personnel plan that identifies who shall be employed to work in the business.

7.1 Personnel Plan

To help the life coach business plan realize its goals, the following members of staff will be hired to work in MakCoach LLP. Paul Markins who is an expert personal life coach and owner of the business will be the Chief Executive Officer. He will be assisted by the following team of staff.

• 1 Business Coordinator
• 1 Office Administrator
• 4 Life Coaches/Personal Trainers
• 2 Marketing Executives
• 1 Accountant
• 1 Customer Service Executives

Upon successful hiring, staff will undergo training to equip them with useful skills before the life coaching business opens its doors to the public.

7.2 Average Salaries

MakCoach LLP plans to pay its staff the following salaries within the first three years of operations.

Financial Plan

MakCoach LLP has formulated a detailed financial plan which is supposed to guide and orient the business towards achieving a high life coaching profit margin. To ensure the business makes profits, it is important to identify and compute key business financial parameters with an aim of determining the financial soundness of a business plan for life coach . At this point, issues such as start-up capital and how the business will finance its operations need to be addressed. When starting a life coach business , Paul Markins clearly understands that for life coaching for profit to be realized, having an extensive financial plan is a must-have. In this case, Paul will raise capital from his personal savings and seek additional financing from two investors. In addition, he will seek a small bank loan for business plan to bridge the financial gap.

Below is a detailed financial analysis for MakCoach LLP.

8.1 Important Assumptions

The financial forecast for MakCoach LLP is based on the assumptions below.

8.2 Brake-even Analysis

MakCoach LLP brake-even analysis is shown in the graph below.

8.3 Projected Profit and Loss

Profit and loss information for MakCoach LLP as calculated on a monthly and annual basis is indicated below.

8.3.1 Monthly Profit

8.3.2 Yearly Profit

8.3.3 Monthly Gross Margin

8.3.4 Yearly Gross Margin

8.4 Projected Cash Flow

Below is a summary of MakCoach LLP Pro forma cash flow, subtotal cash received, subtotal cash spent, subtotal cash from operations and subtotal cash spent on operations.

8.5 Projected Balance Sheet

Below is a Projected Balance Sheet for MakCoach LLP that shows assets, liabilities, capital, long term assets and current liabilities.

8.6 Business Ratios

The following is the Ratio Analysis, Business Ratios and Business Net Worth for MakCoach LLP.

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The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

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How to Design Payment Plans That Work for Both Coach and Client: Strategies and Examples

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Designing effective payment plans is crucial for any coaching business. Not only do they provide financial stability for the coach, but they also offer flexibility and affordability for clients. In this blog, we’ll explore strategies and examples for creating payment plans that benefit both parties, ensuring a win-win situation.

Understanding the Importance of Payment Plans

Payment plans are an essential part of running a successful coaching business. They allow clients to access services without the burden of a large upfront cost, while also ensuring that coaches receive steady, predictable income. Let’s dive into the key factors to consider when designing these plans.

Factors to Consider When Designing a Payment Plan

• Understand your client’s financial capacity and tailor your payment plans accordingly. This can help in creating a more comfortable and manageable payment structure for them.
• Consider the length and value of your coaching services. Long-term programs might benefit from monthly payment options, whereas shorter sessions could be paid in full upfront.
• Offering flexible payment options can make your services more attractive. Flexibility might include bi-weekly payments, monthly payments, or even customized schedules based on individual client needs.

Benefits of Payment Plans for Coaches and Clients

For Coaches:

• Steady Cash Flow: Regular payments ensure a consistent revenue stream.
• Client Commitment: Clients are more likely to stay committed to the coaching program if they have a structured payment plan.

For Clients:

• Affordability: Breaking down the total cost into smaller, manageable payments makes coaching more accessible.
• Reduced Stress: Clients can focus on their development rather than worrying about a large upfront payment.

Common Types of Payment Plans for Coaching Services

• Clients pay the total cost before the coaching sessions begin. This is straightforward and guarantees full payment, but it may not be suitable for all clients.
• The total cost is divided into monthly installments. This is a popular option as it balances affordability with coach income stability.
• Clients pay for each session as they go. This can be flexible but may lack the commitment that longer-term payment plans ensure.
• Payments are made every two weeks. This can align well with clients who receive bi-weekly paychecks, making it easier for them to budget.

Ensuring Clients Adhere to Their Payment Plans

To ensure clients stick to their payment plans, consider implementing the following strategies:

• Clear Communication: Outline the payment schedule and expectations from the beginning.
• Contracts: Use written agreements to formalize the payment plan.
• Reminders: Send regular reminders before payment due dates.
• Late Fees: Implement a small late fee to encourage timely payments.

Customizing Payment Plans for Individual Clients

Is it advisable to customize payment plans for individual clients? The answer is a resounding yes. Customization can enhance client satisfaction and retention. When designing customized plans, consider:

• Personal Financial Situations: Tailor plans to fit the unique financial circumstances of each client.
• Coaching Goals: Align payment schedules with the client’s progress and milestones.
• Feedback: Regularly ask for feedback and be willing to adjust the plan if necessary.

Payment Plan Example

Here’s a payment plan example for a six-month coaching program:

• Total Cost: $3000
• Upfront Payment Option: $2800 (save $200)
• Monthly Payment Option: $500 per month for six months
• Bi-Weekly Payment Option: $250 every two weeks

This structure provides flexibility and encourages clients to choose the option that best fits their financial situation.

Designing effective payment plans is a vital aspect of managing a successful coaching business. By considering the factors that influence both coach and client, offering flexible and customizable options, and ensuring clear communication and adherence strategies, you can create a payment plan that works for everyone.

1. What factors should coaches consider when designing a payment plan?

Coaches should consider the client’s financial situation, the value and duration of services, and the need for flexibility in payment schedules.

2. How can payment plans benefit both the coach and the client?

Payment plans ensure steady cash flow for the coach and make coaching services more affordable and accessible for clients.

3. What are some common types of payment plans for coaching services?

Common types include upfront payments, monthly payments, per session payments, and bi-weekly payments.

4. How can coaches ensure clients adhere to their payment plans?

Clear communication, contracts, reminders, and late fees can help ensure clients stick to their payment schedules.

5. Is it advisable to customize payment plans for individual clients?

Yes, customizing payment plans can enhance client satisfaction and retention by catering to their unique financial situations and coaching goals.

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About Simply.Coach

Simply.Coach  is an enterprise-grade coaching software designed to be used by individual coaches and coaching businesses. Trusted by ICF-accredited and EMCC-credentialed coaches worldwide, Simply.Coach is on a mission to elevate the experience and process of coaching with technology-led tools and solutions.  

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