How to Start Your Life Coaching Business Plan & Template

Life Coaching Business

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.

Best coaching platform

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.

Marketing your business

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

Building a life coaching busines

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

create a life coaching business plan

September 24, 2023

June 4, 2024

coaching business plan

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?

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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:

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:

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

  • 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

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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.

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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.

create a life coaching business plan

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.

create a life coaching business plan

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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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. 

Life coaching SWOT analysis

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.

Business plan for life coaches: a checklist

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.

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

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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Download a free life coaching business plan template

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Coaching Business Plan Template

Written by Dave Lavinsky

how to start a coaching business

Coaching Business Plan

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.

Download our Ultimate Business Plan Template here >

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.

Finish Your Business Plan Today!

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

Business Plan

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.  

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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

coaches planning their coaching business plan

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:

meaning growth purpose love

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.

The Ultimate Guide To Mapping Out A Rock-Solid 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.

coaching business

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.

The 5-Step Coaching Business Plan

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.

The 5-Step Coaching Business Plan

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.

man checking off a check list

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:

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Conversation

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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.

coaching business

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

life coach business plan

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.

create a life coaching business plan

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.

dollar bills folded in the shape of hearts

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.

create a life coaching business plan

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.

Save Hours with my Proven Formula. FREE Yoga Business Plan Download & Checklist 👇

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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.

Ashlie Franey

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.

  • If you’re interested in practical kriya yoga as a way to improve your daily life and relationships, check out my Yoga for Self Mastery course.
  • Order my Yoga Life book for a practical guide to creating balance in your life through yoga.
  • Check out my YouTube channel and find some yoga classes that you can try out for yourself!

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How to Write a Coaching Business Plan That Helps You Thrive + Template

May 17, 2023

The Coach Factory Team

a coach envisions his future business

New coaches often overlook the importance of having a business plan from the beginning , but this critical document will guide your business through its growth stages. It’s a strategic tool that helps you visualize your goals, track your progress, and provide a clear picture of your business’ vision, financial health, and operational needs.

Without a business plan, you’ll face the risk of wandering aimlessly in your coaching practice and struggling to achieve your goals. The absence of a well-defined plan may leave you vulnerable to various challenges and setbacks. 

You may find it difficult to attract and retain clients without a clear value proposition and targeted marketing strategies. You may also struggle with financial management, pricing your services appropriately, and tracking your progress towards revenue goals. 

Plus, the absence of a business plan can lead to a lack of focus, scattered efforts, and a sense of uncertainty about the direction of your coaching practice. Ultimately, without a business plan, you may miss out on valuable opportunities for growth and struggle to thrive in the competitive coaching landscape.

Whether you’re transforming your coaching side gig into a full-time venture or scaling up your existing coaching business, this article will walk you step-by-step through creating a detailed coaching business plan that will propel you toward success.

  • Why Your Coaching Practice Needs a Business Plan

A business plan guides your coaching business, directing you through your initial startup phase to growth and beyond. It helps you chart your course, establish milestones, and provide clear directions to your desired destination, similar to how a roadmap directs a traveler.

One of the most significant benefits of a business plan is its role in decision-making. When faced with decisions like introducing a new service or investing in advertising, your business plan provides the context and data to make informed choices. It helps align your decisions with your overall business objectives and strategies, ensuring that every step leads you closer to your goals.

How do I turn my coaching into a business?

If you’re already coaching and are ready to turn your hobby into a full fledged business, one of your first steps is to craft a business plan. As you work through the parts of the plan, you’ll be forced to make decisions about what to name your business , who is your desired clientele , what services you’ll offer , what kinds of expenses and revenue you expect, and how you’ll market the business.

Whether you run your coaching business as a side hustle or as a full time venture, as long as you are making money from coaching, you can officially call it a business. 

Can I write a business plan myself?

Yes, even a novice can write a simple business plan by working through the seven key elements: an executive summary, a company description, market analysis, organizational structure, sales and marketing, financial goals, and an appendix. Use the free 12-page workbook linked at the bottom of this post for a plug-and-play business plan template. 

How much does it cost to start a coaching business?

The costs for launching your coaching business can vary widely from a minimal few hundred dollars to a substantial investment of multiple thousands of dollars. When you dig into the financial parts of your business plan, you’ll be able to start listing the potential expenses you expect: certifications, website hosting and design, online video conferencing tools, hiring an accountant, etc. 

The good news is that you can start simply by offering online coaching to people in your current sphere of influence and as you generate income, branch out with additional features such as a coaching website or a client management system . There’s no need to put everything in place at once. You can build your business as you go, but the coaching business plan provides the blueprint to help you identify next steps. 

Can I make a living as a coach?

Yes, you can! If you have the primary traits that all coaches need and are willing to invest in your professional development and learn the basics of online marketing, you will likely attract enough ideal clients to earn a living wage. It’s not an easy path; it will take dedication to start your own coaching business, of course.  But over time, many coaches are able to generate six-figure annual salaries by doing what they love — helping others achieve their aspirations. These highest paid coaches tend to have the most expertise and work as business coaches. But there’s plenty of room for coaches of all niches and experience levels to find their ideal clients and serve them. As you continue coaching, you’ll refine your practice, find better clients, and be able to charge higher rates .

making a business plan for a new coaching business

  • Tips for Writing the 7 Key Elements of a Coaching Business Plan — With Workbook

Launching a coaching business requires more than just expertise in a specific niche. It demands a strategic approach and a clear vision for your business’s future. 

A well-crafted business plan has seven key elements, each of which serves a distinct purpose that aids in decision-making. These seven steps are included in a convenient PDF workbook format so you can record your thoughts and get started on your own business plan right away. Download yours and fill it out as you read the rest of this article that fleshes out the directions in the template.

1. Write an executive summary

The executive summary is the doorway to your business plan, providing a concise and enticing overview of your coaching business. It gives potential investors, partners, and other stakeholders a snapshot of your business, its goals, and how it intends to achieve them.

Here are five tips for writing an impactful executive summary.

Begin with the basics

No matter the setting, introductions are essential for making a great first impression. An introduction sets the stage and provides context for the following information. Start by providing basic information about your coaching business, like your business name , location, and specific coaching services.

Clearly state your business objectives

Are you looking to become a leading life coach in your region, or are you aiming to carve out a niche as a specialized career coach for professionals in the tech industry?

You must convey your business goals and give a time frame for achieving them. Although shooting for the stars is always important, your business plan goals should be simple enough to understand. So stick to setting goals that are specific, measurable, attainable, relevant, and time-bound (SMART).

Highlight your unique selling proposition (USP)

What makes your coaching business unique? Do you have a distinctive coaching methodology, special qualification, or experience that sets you apart?

Your USP is the core reason clients choose you over other coaches. It should be a central part of your branding and messaging to help attract and retain clients. When including it in your executive summary, dig deep to highlight aspects of your coaching business that help potential stakeholders see your value to the industry.

Outline your growth plan

Outlining your growth plan in your executive summary shows your ambition and forward-thinking approach to potential investors, partners, and stakeholders.

Briefly describe your plan for achieving your business objectives and expanding your coaching practice. Include any steps you plan to take in setting your business up for future success, like targeting new market segments, introducing new services, scaling your operations, and setting a flexible timeline for hitting certain milestones.

Write your executive summary last 

Even though the executive summary appears first in your business plan, you should write it last after completing the other sections. This way, you’ll accurately summarize the key points.

Remember, the executive summary is your chance to capture the reader’s attention and entice them to read the rest of your business plan. Make it compelling, informative, and engaging.

2. Create a company description

The company description is a comprehensive introduction to your coaching business. This section is where you set the stage, providing readers with an understanding of your services, target audience, business structure, and mission and vision. 

The more specific you are, the better.

Coaching Services

Start by defining the coaching services you provide. Describe your services in detail, whether you’re a life coach , career coach, or fitness coach. Explain the process, duration, and client expectations from each session. If you offer unique methodologies or techniques, highlight them.

Business Structure

Here, you’ll discuss the legal setup of your coaching business. Always include information about any staff you employ, like administrative help or other coaches, and their roles within your company. Are you a sole proprietor operating independently or set up as an LLC with partners or team members?

Target Audience

The people you want to help are central to your coaching business, so you must dedicate time and space to highlight them. Identify their demographics, such as age, gender, location, and income bracket. Additionally, it would help if you detailed things like their values, interests, and challenges.

Are they professionals seeking career advancement, individuals pursuing personal growth, or athletes aiming to improve performance?

The more detailed you are about your ideal client, the better you’ll tailor your services and marketing strategy.

Mission Statement

Your mission statement articulates your coaching business’s core purpose. It answers the question, “Why does your coaching business exist?” 

The mission statement should capture the essence of your coaching practice, the services you provide, and the value you deliver to your clients. It needs to be clear, concise, and compelling to your ideal client .

This mission guides every present decision and strategy in your business. It’s a constant reminder of your business’s purpose and the impact you aim to have on your clients’ lives. It helps to align your team’s efforts and fosters a sense of shared purpose.

Vision Statement

Unlike the mission statement, which focuses on the present and your business’s purpose, the vision statement is future-oriented. It embodies your aspirations and describes what ultimate success looks like for your coaching practice.

Your vision statement should inspire and motivate—it’s the big dream you’re working towards. It aligns you and your team (if you have one) around a common goal, creating a sense of unity and purpose.

Remember, keep your vision statement ambitious yet grounded in reality. Allow it to reflect the growth and impact you genuinely believe your coaching business can achieve in the future. A compelling vision statement will help you maintain focus and momentum as you build your coaching business.

life coaches work on crafting business plans by discussing the market

3. Conduct market analysis and research

Navigating the coaching industry without a clear understanding of the market is like wandering in a forest without a map. You may stumble upon some great discoveries, but you’ll probably spend much time circling back to familiar ground. The goal is to continue to move forward with as little friction as possible. 

The market analysis section of your coaching business plan serves as your compass and map to help you quickly learn and navigate the coaching industry.

Industry Overview

Begin with a broad overview of the coaching industry— this might include the industry’s current size, growth rates, and key trends or shifts in the industry. You can find much of this information through industry reports, market research firms, and business publications.

Competitor Analysis

Identify your main competitors and analyze their services, pricing, marketing strategies, and strengths and weaknesses. Gather this information through their websites, client reviews, and social media channels. Understanding your competition will help you find ways to differentiate your coaching business.

Market Trends

Being aware of and responsive to emerging market trends will allow you to tweak your services and marketing efforts to satisfy evolving client preferences. This foresight ensures your business stays relevant and remains a competitive player in the changing landscape of the coaching industry.

Shine a spotlight on key market trends that could steer the course of your coaching business. For example, if you notice the tide shifting towards remote work, this could signal a surge in demand for virtual coaching services.

Opportunities and Threats

Based on your industry overview, target market analysis, competitor analysis, and market trends, identify potential opportunities for your coaching business and any threats that could impact its success.

For example, an opportunity might be a growing demand for a specific type of coaching in your area, while a threat could be a high level of competition from other coaches in your niche. Detailing both will show you new ways to approach and solve potential issues while allowing you to explore new things.

4. Outline your organizational and managerial overview

The organization and management overview of your business plan outlines the structure of your business and the team running it. This section should clearly define who is involved in your coaching business, their roles, and why they are fit for these roles.

It’s an opportunity to showcase the expertise and capabilities within your coaching business, which can build confidence among potential clients, partners, and investors.

Are you a sole proprietor, or have you formed an LLC, a partnership, or a corporation?

Start by defining the legal structure of your business. This information is crucial as it impacts your taxes, liability, and other legal aspects.

Organizational Chart

If your business has more team members other than you, create an organizational chart that shows the hierarchy and relationships between different roles. This provides a visual representation of your business’s structure. Include snapshots of who’s in management and what your role entails.

Advisors and Support

If you have any advisors or support services involved in your business, such as an accountant, a lawyer, or a business coach, mention them here. They add credibility to your business and show that you have expert support in managing your coaching business.

7 elements of a coaching business plan - diagram

5. Craft a sales and marketing plan

Your business plan’s sales and marketing section outlines how you will attract and retain clients. It should detail your strategies for raising awareness of your coaching services, engaging prospects, and ultimately converting them into clients.

This section should be dynamic, adapting to your market’s changing needs and your business’s growth.

Marketing Objectives

Align your marketing goals with your overall business objectives.

For instance, if one of your business goals is to increase your client base by 25% over the next year, one of your marketing objectives might be to grow your email list by 50% in the same period. This would give you a larger pool of potential clients to engage with, supporting your overall goal of expanding your client base.

Also, detail how you plan to scale your marketing efforts as your business grows. Consider investing in more sophisticated marketing technology, hiring a marketing professional, or expanding into new marketing channels.

Target Market

Everything in your marketing plan has to appeal to your ideal client . Understanding their demographics, needs, and preferences will allow you to tailor your marketing messages effectively to gain their attention.

Marketing Strategies

Describe the marketing channels and strategies you plan to use. Mention everything from content marketing (blogging, webinars, ebooks), social media marketing (LinkedIn, Facebook, Instagram, Twitter), email marketing, networking (industry events, local business groups), public speaking, or offering introductory coaching sessions. 

Explain why you believe these strategies will be effective for reaching your target market.

Marketing Funnel 

A marketing funnel is a pipeline that shows how potential clients will move from an initial encounter with your brand to purchasing your services and beyond. This section details your steps for converting a prospect into a client. Include aspects like initial consultations, proposals , a follow-up process, and the sale of a coaching package.

The systems or technology you use to facilitate this process, such as customer relationship management (CRM) software, is information that would validate the efficiency of your funnel, so remember to include it. 

Brand Development

Discuss how you will build your brand and information on developing your coaching website and creating a consistent brand identity across any directory listings and all your marketing materials and channels.

It would be best if you also detailed how you will position yourself as an expert in your field, such as publishing articles or speaking at events. This will give your coaching practice more credibility and make it easier for potential stakeholders to trust your vision. 

a life coach holds a stack of fifty dollar bills, symbolic of financial considerations of creating a business plan for a coaching practice

6. Financial goals and projections

Your coaching business plan’s financial goals section clearly shows your current financial status and future projections. It provides insight into the profitability and sustainability of your business, which is especially important if you are seeking investors or loans.

Remember, this section will likely require more research and preparation than other sections of your business plan. Be as accurate and realistic as possible in your projections. Consider seeking the assistance of a financial advisor or accountant to ensure that your financial plan is sound and realistic.

Financial Goals

Begin by outlining your financial goals. Remember to keep your goals within reasonable limits based on your current resources.

Do you plan to achieve a certain revenue target within a specified period by attaining a specific number of paying clients?

Startup Costs

Startup costs will not apply to every coaching business, but if you’re starting, itemize your startup costs. This could include costs for setting up your office, purchasing equipment, marketing expenses, professional fees (like licensing or certification), and other initial expenses.

Revenue Projections

Provide a detailed breakdown of your projected income. For a coaching business, this will usually involve estimating the number of clients you will serve, the price of your coaching packages, and any other income streams (like workshops, ebooks, etc. ).

Expense Projections

Similarly, outline your projected expenses. This could include rent (if you have a physical office), utilities, marketing costs, salaries (if you have employees), and other operational costs. Also, remember to account for less recurring costs like equipment upgrades or professional development.

Cash Flow Analysis

A cash flow statement shows how changes in balance sheet accounts and income affect cash and cash equivalents. It breaks the analysis down into operating, investing, and financing activities.

Break-even Analysis

This analysis shows when your business will be able to cover all its expenses and begin to make a profit. It’s essential to investors as it shows the viability of your business.

Funding Request

If you’re seeking funding, present your needs for the next 3-5 years. Explain why you need the funds and how they will help grow your business.

Financial Statement

If your business has been running for a while, include your current financial statement. It should provide a snapshot of your business’s financial health and include a balance sheet, income statement, and cash flow statement.

7. Beef up your coaching business plan with an appendix 

The appendices section of your business plan serves as a repository for any additional information or documents that support your business plan but don’t necessarily fit within the body of the plan.

These materials can provide extra depth and credibility to your business plan, allowing readers, such as potential investors, lenders, or partners, to dive deeper into certain aspects of your business if they wish.

Remember these three tips when organizing your appendix.

  • Only include relevant documents like certifications, awards, customer testimonials, letters of recommendation, detailed market research, patents, product pictures, legal documents, contracts, etc.
  • Create a table of contents to give readers a quick view of what’s in the appendix. Readers can then quickly locate the documents they’re interested in.
  • Include references to the appendix throughout your business plan to provide context and quick referencing.
  • Free Life Coaching Business Plan Template

A well-structured business plan is a vital first step for new coaches serious about building a thriving coaching business. By investing time and effort in developing your business plan, you create a strategic roadmap for your business and set the foundation for success. Your business plan will guide your decision-making, help you stay focused on your goals, and enable you to measure progress and make necessary adjustments.

Download our free 12-page Coaching Business Plan Template, designed specifically to help you navigate crafting an effective business plan. This template provides a clear framework and guidance on the essential elements to consider as you plan your coaching business.

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Written by The Coach Factory Team

We're a team of coaching enthusiasts who hire and work with coaches. Members of our team run businesses in the coaching industry or provide services that support coaches, and several of us are coaches ourselves.

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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.

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How to Start a Life Coaching Business: Step-by-Step Guide for Success

All Posts Archive , Life Coach Career Archive , Life Coaching Archive , Marketing Archive , Success Archive

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Steps To Starting A Life Coaching Business

Do you love helping others reach their goals and navigate life’s ups and downs? Starting a life coaching business could be the perfect fit for you. In this guide, we’ll walk you through the steps to get your life coaching business started.

Step 1: Find Your Niche in Life Coaching

create a life coaching business plan

Life coaching can include many topics, so finding your niche is important. Are you passionate about career transitions, relationships, or perhaps health and wellness? Think about where you can offer the most value and what you are most interested in.

Here are some common life coaching niches:

  • Career Coaching : Helping clients with job searches and career changes.
  • Relationship Coaching : Guiding clients in their personal relationships.
  • Health and Wellness Coaching : Supporting clients with healthier lifestyles.
  • Business Coaching : Working with entrepreneurs and business owners.
  • Spiritual Coaching : Supporting people through their spiritual journeys.

Pick a niche that feels right for you. This will help you connect better with clients who are looking for the specific expertise you offer.

Step 2: Get Trained and Certified

create a life coaching business plan

To gain credibility as a life coach, it’s smart to get trained and certified . While the industry isn’t heavily regulated, having a certification shows you take the profession seriously. Look for reputable training programs, such as Life Purpose Institute , that cover coaching techniques, ethics, and marketing strategy.

Some well-known certification organizations are:

  • International Coach Federation (ICF)
  • International Association of Coaching (IAC)
  • Center for Credentialing & Education (CCE)

A certification from one of these groups, or a program accredited by them, can boost your chances of attracting clients.

Step 3: Create a Business Plan

Before diving in, take some time to create a business plan . This will be your guide as you build your life coaching business. Here are some important items to include:

  • Mission Statement : What is the purpose of your coaching business?
  • Target Audience : Who are your ideal clients? What are their needs? 
  • Services and Pricing : What will you offer, and how much will it cost?
  • Marketing Strategy : How will you attract clients and build your brand?
  • Budget and Financial Projections : What are your initial costs, and how much do you expect to earn?

Having a business plan will give you a clear direction and help you stay on track.

Step 4: Build Your Online Presence

create a life coaching business plan

Building an online presence is crucial in today’s world. Start by creating a professional website that showcases your coaching services. Include details about your background, your coaching philosophy, and how to contact you.

Make sure your website has:

  • A clear description of what you offer
  • Client testimonials and success stories
  • An easy way for clients to book sessions with you

Perhaps you’d life to include a blog where you share insights and tips related to your coaching niche. This will help you connect with potential clients and establish yourself as an authority.

Step 5: Market Your Life Coaching Business

With your website in place, it’s time to market your business . Here are some effective ways to share your message:

  • Social Media : Share valuable content on platforms like Instagram, Facebook,TikTok, YouTube, and LinkedIn.
  • Networking : Attend local events and join coaching associations to meet other professionals.
  • Email Marketing : Start a newsletter to stay in touch with your audience.
  • Referral Programs : Encourage your clients to refer others to you.

Try out different marketing approaches to see what works best for you.

Step 6: Get Organized with a Client Management System

As your business grows, it’s important to stay organized . You can utilize a client management system to keep track of sessions, client information, and their progress. This makes it easier to provide personalized coaching and manage your schedule.

Some popular client management tools for life coaches include:

  • CoachAccountable

Do your research and choose a system that works for you and keeps everything running smoothly.

Step 7: Keep Learning and Improving

create a life coaching business plan

To stay competitive in the life coaching field, make sure to keep learning and improving . Attend workshops, get advanced certifications, and seek advice from experienced coaches. The more you learn, the more you’ll be able to offer your clients.

Also, ask for feedback from your clients and use it to refine your coaching methods. This shows that you’re committed to their success and willing to adapt.

What’s Next?

Starting a life coaching business can be incredibly rewarding. By following these steps, you’ll be on your way to building a successful career as a life coach. If you’re interested in becoming certified as a life or spiritual coach, take a look at the programs offered by Life Purpose Institute . Their ICF-accredited life coach certification programs provide all the tools, skills, and support needed to become a highly effective and successful life coach.

Fern founder of Life Purpose Institute

Fern is the Founder and Director of the Life Purpose Institute , Inc. Before working as a coach; she was a mental health counselor, social worker, and career counselor. She developed her unique coaching method in 1984 and has assisted thousands of people in her coaching practice in making positive life and career changes. Fern developed a strong and compelling vision to help people discover their purpose, move forward in all areas of their life, and create a life they love.

After serving for many years as a Life Coach and licensed therapist in her private practice, she began training coaches internationally to perform this important work. Fern wrote and developed comprehensive manuals and materials for the Life Coach Certification and Spiritual Coach Training Programs.

Want to learn more about the programs at Life Purpose Institute ? Schedule a Free Consultation to speak one-on-one with a Program Specialist and get all your questions answered. 

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January 04, 2022 - Coaching Business

How To Create A Concise Life Coach Business Plan

A concise life coach business plan is vital to grow your coaching business.

how to create a concise life coach business plan

There is an ever-growing demand for coaching services and the estimated market size is expected to reach  $20 billion by 2022.

Oof, that’s huge potential!

It represents a fantastic opportunity if you’re planning to start your very own life coaching business. 

You’re inspired and motivated to coach and transform lives but before getting started, you may be asking:

How do I even begin to map out a life coach business plan for myself?

How do I get clarity about my life coach business strategy?

These questions can be daunting for anyone who’s just starting out in their own business. A well-thought-out business plan is a key step towards helping you get clarity on starting and running your business venture. 

why do you need a life coach business plan

Why do you even need a life coach business plan, to begin with?

The words ‘business plan’ often strikes fear in the heart of small business owners but it really doesn’t have to! A business plan is essentially a document that contains the ‘ what ’, ‘ who ’, ‘ how ’, and ‘ where ’ of your business.

Don’t fall into a mind trap thinking that a business plan is only for corporations or large enterprises. The truth is, a business plan is necessary even if you are a small or solo business owner.

It sounds like a big word but it’s really a document that captures the essence of your business. It helps you to be clear about who you’re serving and your business objectives.

It helps you to crystallize your thoughts and pen them down. Keeping thoughts in your head is only an ‘idea’.

When you document your ideas by penning them down, it becomes a committed plan. The business plan serves as your business charter and guiding principles. It tells your clients and stakeholders ( if any ) of your business, why you exist, what you do and who you serve.

This Forbes article describes a business plan succinctly: “ A written business plan takes your vision and creates a clear path for making it a reality .”

Essential elements of an effective life coach business plan

In this article, we’ll guide you towards creating a concise yet effective business plan that’s relevant for a life coaching business. 

Note : This article assumes that you’ve already done your market research about your target audience and who you will be serving (your niche), your offer, and pricing.

There are many business plan variations and there isn’t a standard format that must be adhered to. A business plan can therefore be customized and specific for your needs, as long as it contains the expected components to serve its purpose.

Here, we will talk about the essential elements that should be included in a business plan for life coaches. 

The key to creating an effective plan is to be clear about what it needs to contain, at a minimum, for it to be useful to yourself and anyone reading it.

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This is also known as a 'lean' business plan . 

benefits of a life coach business plan

How can the lean business plan benefit you?

It’s concise so you can have an overview of your business in a gist. 

It’s easy to create. Unlike a traditional business plan, there’s not a lot to write or any complex formatting. 

It’s clear. It’s your customized elevator pitch to let people know what you do in one sentence. Your lean business plan should include:

Executive summary

A summary of your business mission statement, your target market, what you offer, costs, and competitive position. 

Problem You Solve

Succinctly describe the problem you are aiming to solve with your coaching services. If you’re an ADHD coach, this could be an example description of the problem you solve: “I help adults with ADHD who struggle with time management and self-confidence to focus on completing daily goals, ultimately leading to bigger achievements and high self-esteem.”

Target Audience

This is important as it assists you to define your ideal client or your “Ideal Customer Profile”. Do include demographics, location, fears, motivations, typical financial situation, etc. . Describe your potential clients to the best of your ability and with thorough research. 

Products & Services

This section features the product and/or services that you offer to help solve the problem you described above. You should be specific about your value proposition. What is it that you offer that will be of value to your clients? How do you help them? Why should they buy from you? For example, as an ADHD coach, your offer could be: 1) Individual coaching program over a 3-month duration where we will meet once a week; 2) An e-book that guides people with ADHD to achieve time-management mastery.

Competition

Who are your competitors? What alternative services may your clients need and seek? For example, online course providers who sell drip-feed self-learning modules

Marketing Strategy and Channels

How and where will you sell and market your services to your target audience? Will you market your services on social channels? What about advertising on third-party websites or online magazines that are relevant to your ideal customer profile? 

How much will it cost to start your business? How will you fund this? Typically, as a solo business operation, you function as a one-person band. Your own time makes up the lion’s share of the cost incurred. Other costs such as marketing, advertising and promotions, hiring a VA, running your website, etc, should also be considered. 

How much will you charge for your products and services? What is your targeted revenue goal per annum?  

With the concise coaching business plan provided above, it should help you get clear about your business offering and client acquisition strategies. 

To help with your life coaching business marketing and operations, we created CoachVantage. It’s an all-in-one coaching software that helps coaches market, sell coaching services, and manage client engagements. 

To try CoachVantage for free, just click the button below.

Shida Osman | Content & Digital Marketing Specialist

Shida Osman

Content And Digital Marketing Specialist at Coachvantage

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The Ultimate Guide to Personal Branding for Life Coaches

The Ultimate Guide to Personal Branding for Life Coaches

What is a life coach & what do they actually do?

What is a life coach & what do they actually do?

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Life Coaching Business Plan

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SummitRise Coaching

Value proposition.

SummitRise Coaching helps mid-career professionals find their purpose and navigate career transitions. Our tailored coaching programs provide the insights, confidence, and strategies to transform your life and open doors to new experiences.

The Problem

Mid-career professionals often feel unfulfilled or stuck but lack support to make a successful life transition. 

The Solution

SummitRise Coaching empowers mid-career professionals to navigate life transitions through customized guidance. Our tailored programs help clients discover purpose, build confidence, overcome obstacles, and reinvent their lives in a fulfilling new direction.

Target Market

  • Mid-career professionals, ages 30-50, earning $75K-$200K seeking life transition support. 5M prospects spending $3K-$10K/year.
  • Executives and managers interested in leadership and work-life balance. 3M prospects earning $125K-$300K, spending $5K-$15K/year.  
  • Entrepreneurs starting or advancing businesses. 500K prospects earning $75K-$150K, spending $2K-$7K/year.
  • Couples navigating life or relationship transitions together. 2M prospects with $100K-$250K combined income, spending $5K-$12K/year.

Competitors & Differentiation

Current alternatives.

  • Traditional counseling: Provides mental health benefits but lacks life transition support. SummitRise offers tailored strategies and accountability.
  • Outplacement firms: Focused on job search, not purpose reinvention. Generic, not customized services. SummitRise provides personalized solutions based on individual goals.
  • Free/low-cost life coaching: Impact may be limited. Fewer credentialed coaches and services. SummitRise has certified, experienced coaches and high-touch programs.
  • Online courses: Impersonal with little motivation or accountability. SummitRise combines digital learning with dedicated coach guidance focused on clients’ unique situations. Superior experience.

SummitRise Coaching stands apart through customized solutions and support for purposeful life reinvention.

  • Certified, experienced coaches with proven success guiding life transitions.
  • Personalized programs tailored to individual needs and goals.
  • Practical strategies and accountability for sustainable change.
  • Ongoing partnership through challenges and wins.

Our caring professionals provide guidance and motivation customized to your priorities so you can gain clarity, build confidence, and forge a fulfilling new direction.

Funding Needs

Here are funding needs, sales channels, marketing activities, financial projections, and milestones for SummitRise Coaching:

  • $10,000 for website, marketing materials, certification and training
  • $5,000 buffer for unforeseen initial costs   

Sales Channels   

  • Website and email newsletter  
  • Referral partners like therapists, career counselors, and mentors  
  • Media exposure and contributions to build authority  
  • Networking and live events  

Marketing Activities  

  • Search engine optimization for website  
  • Paid media (Google, Facebook, LinkedIn) targeting personas
  • Blog posts and email newsletter to share advice and resources  
  • Organic social media profiles and engagement, especially LinkedIn  
  • Public speaking at live and virtual events   
  • Strategic partnerships and networking  

Financial Projections  

With a focus on gaining initial clients through our proven introductory  offer and word-of-mouth referrals, SummitRise Coaching anticipates:

2022 $99,000       

2023 $138,873            

2024 $170,858

Expenses/Costs

2022 $74,400 

2023 $103,400   

2024 $130,000

2022 $24,600                 

2023 $35,473               

2024 $40,858  

  • Earn life coaching certification (3 months)  
  • Build company website (2 months)           
  • Create marketing materials and brand identity (1 month)   
  • Set up business legal structure and insurance (1 month)
  • Define services and coaching program offerings (1 month)  
  • Build email list and following on social media (6 months)  
  • Continuously network, search for strategic partners (ongoing) 
  • Gain first private coaching clients (4-6 months)                
  • Run initial 6-week group program (8 months)         
  • Line up speaking engagements and media interviews (10 months)   
  • Reassess, gain feedback and adjust programs/offerings (12 months)       
  • Meet with a business advisor to plan growth (18 months) 
  • Consider bringing on additional coach(es) or admin support (24 months)     
  • Review progress and set next 3-year business goals (24 months)

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  • Coaching Solutions

How To Develop A Coaching Plan: 12 Examples and Templates

Coaching Plan

Successful coaching doesn’t happen by accident, and even the best coaching tools can fail to deliver results without a proper game plan.

Creating a coaching plan is a foolproof way to ensure you deliver the right solutions in the most strategic way for your clients, so you can supercharge their chances of success like a pro.

Before you begin, we recommend working along with Quenza’s tools, for just $1 for the first month . Our 1-month trial of Quenza’s toolkit will give you all you need to plan out your coaching strategy easily and efficiently, so that you can help your clients achieve their goals even more effectively.

What To Include In Your Coaching Plan

Coaching plans are strategies for the work that you’ll do with a client throughout the course of your collaboration. They help you ‘blueprint’ your coaching program or package from start to finish, essentially solidifying the ‘how’ and ‘with what’ of your sessions together.

Having a plan allows you to develop a logical path forward for your client. While it may follow an established coaching framework such as GROW or CLEAR, it will inevitably be a customized roadmap that includes your professional tools and which is aligned with your client’s goals.

Coaching plans help you ‘blueprint’ your coaching program or package from start to finish, essentially solidifying the ‘how’ and ‘with what’ of your sessions with clients.

Coaching plans typically cover the logistics of your coaching relationship, such as: [1]

  • Your processes for onboarding or orienting your client, e.g. your initial conversations and coaching agreement
  • How you will help your client set goals or identify their growth/development opportunities
  • The resources and tools you’ll provide them with, e.g. lessons, coaching exercises, and activities
  • Your approaches for measuring progress, e.g. with assessments, surveys, or milestones
  • How you’ll support them along the way, such as with feedback or discussions, and
  • Your plan for keeping them engaged, motivated, and on track.

Let’s look at a few examples.

Coaching Plans For Employees

As a leader or executive, planning helps you ensure your employees get the most from their team coaching or motivational program .

To illustrate, the career experts at Indeed.com suggest that a step-wise coaching plan for employees should include: [2]

  • Establishing their strengths
  • Identifying potential development areas
  • Giving them a chance to self-assess their performance
  • Identifying obstacles that prevent them from improving their performance
  • Offering possible solutions to help them overcome their challenges
  • Helping them set goals
  • Collaborating on an action plan, and
  • Organizing regular follow-up sessions.

Coaching Plans For Teachers

Organizing an online course ? Here are some good examples of coaching plans for teachers that you might find helpful:

  • This example reading coaching plan starts with an identification of areas for improvement and considers some example strategies and evaluation tools
  • The Australian Institute for Teaching and School Leadership discusses four stages of Planning, Contracting, Coaching, and Evaluating in this sample coaching plan for teachers , and
  • More practical examples can be found in this Coaching Manual for Schools by TeacherToolkit.

3 Examples and Samples

Given the growth in popularity of online coaching, it’s now easier than ever to find sample activities for your coaching plans. Quenza’s free Expansion Library includes more than a few examples that are easy to customize for personal sessions or group workshops and programs.

Life Domain Satisfaction

Life coaching clients often begin coaching without a clear idea of their obstacles, and life satisfaction assessments are one of the best ways to help them as a coach.

Coaching Plan Sample Exercise Life Domain Satisfaction

Quenza’s Life Domain Satisfaction exercise invites coachees to explore how they feel about their family relationships, financial circumstances, career, and more so that they can identify focus areas and set coaching goals.

Strength Interview

With the Strength Interview Expansion, coaching clients can explore what brings them energy, and what helps them feel and perform at their best.

There are ten questions they can work through as part of goal-setting, intake, or any stage of your coaching plan, and this versatile tool works wonderfully in career, health, life, business coaching , and more contexts.

Sample questions include:

  • What activities did you like most when you were a child?
  • What are you looking forward to in the future? and
  • What brings positive energy into your life?

Brief Needs Check-In

Quenza’s Brief Needs Check-In is a practical way to help clients create a habit of tuning into their emotional needs.

Brief Needs Check-In Coaching Plan Example

This activity guides clients to develop a habit of exploring their thoughts, feelings, and sensations to identify ways that they can feel fulfilled, satisfied, or happier.

Also available as a guided meditation , the Check-In can easily be adapted for group or individual coaching plans.

How To Develop A Coaching Plan

Every coach’s working style will be unique, meaning that only you know what steps are essential to delivering your very best results for clients.

Once you’ve laid your plan out as key stages, you can then start curating and assembling all the tools, forms, and content you’ll use to bring it to life.

Essentially, developing a coaching plan is about:

  • Establishing your timeline – how many sessions will your work together involve? Over how long?
  • Planning out your approach – Where on this timeline should your key stages take place, ideally? and
  • Putting it all together.

At the end of this, you should have a coaching action plan that takes you from the start to the end of your client journey.

Building Your Action Plan: 5 Tips

Quenza’s tools not only help you build your coaching strategy, but they’re also specially designed to help you put it into practice.

Whether you’d like to develop your very first action plan as an e-coach or digitalize your signature approach, Quenza makes it easy for you to:

  • Map out a Pathway of steps, with your choice of activities, forms, or tools for each
  • Establish a timeline by setting intervals between each step, and
  • Deliver your content to clients securely, so that everything goes according to (the) plan!

If you know what your key steps are and are keen to follow along with your $1 trial, the following tips can help you put it all together:

  • Browse your Expansion library for adaptable coach tools that might suit your client and plan.
  • Digitalize hard-copy exercises and forms from your arsenal using Quenza’s Activity builder
  • Take some inspiration from Quenza’s ready-made Expansion Pathways to decide on intervals, timing, and stages for your plan
  • Feature your logo on your activities using Quenza White Label
  • Design your own assessments and worksheets from scratch using the Wheel of Life tool .

wheel of life Coaching Action Plan

The Best Way To Create A Coaching Plan

There are a plethora of ways to go about planning your coaching approach, from pen and paper outlines to spreadsheets and calendars.

For the best possible results, however, an all-in-one software solution is generally best – one that’s designed not just to help you plan, but which will also augment the impact of your professional skills.

With Quenza, you have a purpose-built toolkit that helps you do precisely that.

9 Templates and Tools Included in Quenza

As you organize your plan using Quenza’s Pathways, we recommend checking out the following tools and templates:

  • Self Contract – You can’t always be around to motivate your clients, but with this clever activity, you can empower them to drive themselves. This tool includes a framework for a self-contract that encourages them to implement a positive change by a certain date, sparking greater accountability in those you coach.
  • A Strengths Versus Weaknesses Approach – Another great exercise for clients who are lacking motivation, this Expansion walks them through what it feels like to take a strengths focus rather than operating from their weaknesses.
  • Implementation Intentions – This ‘If-Then’ planning exercise encourages coachees to overcome obstacles with a contingency plan so that they can bridge the ‘gap’ between intention and action in pursuit of their goals.
  • Consulting the Future Self When Making Choices – Many coachees struggle with decision-making when a conflict arises between their short- and long-term goals. This exercise helps them reduce decision-related regret by shifting their focus to the future, so they can consider all the potential outcomes of a decision they’re currently facing.
  • Urge Surfing – In a similar way to the previous Expansion, Urge Surfing helps clients overcome the temptation to give in to cravings in the present moment. This exercise can acquaint coachees with their urges and teach them to ride them out until they diminish naturally.

If it’s coaching forms you’re looking for, Quenza’s Expansion library is also where you’ll find a helpful:

  • Pre-Coaching Questionnaire
  • Effectiveness of Session Evaluation
  • Coach Evaluation Form , and
  • Session Notes for Clients , among others.

Creating a Coaching Plan with Quenza: An Example

Ready to try creating your coaching plan?

Quenza’s Creating a Positive Body Image Expansion Pathway is a great example of how a completed coaching plan might look and feel, complete with Activities for each step and daily intervals between them:

Quenza Coaching Plan Example Body Image

Use this Expansion Pathway as a guide for how to organize your content and space it out, or adapt it to create a custom plan of your own.

Once you’re ready to curate your own plan, why not try:

  • Starting with intake or informed consent forms
  • Introducing your coaching process with a personalized video in your first Activity
  • Using assessments like the Wheel of Life to get to know your client
  • Creating a journal or planner by replicating steps
  • Collecting feedback from your clients with a Session Rating Scale , or
  • Building motivational incentives into your plan?

Final Thoughts

There are myriad reasons to plan out your approach before diving straight in, and Quenza’s tools make your strategizing easy, efficient, and stress-free.

Using this resource to help you, you can craft truly engaging, personalized solutions in a step-by-step way to deliver the best possible results for your clients. If you’ve got your own tips or suggestions for creating a coaching plan, do join in the conversation below with a comment.

We hope this guide helped you create your coaching plan. Don’t forget to begin your 30-day trial of Quenza to start designing your own coaching solutions for just $1.

Quenza’s tools are professionally developed to help you deliver unique solutions your way, and will help you enhance your positive impact for even better client results.

  • ^ UNT Health Science Center. (2021). Laying the Groundwork for Successful Coaching Efforts. Retrieved from https://www.unthsc.edu/values/wp-content/uploads/sites/11/Your_Guide_for_Developing_Effective_Coaching_Plans_Version_1_0_July_21_2014.pdf
  • ^ Indeed.com. (2021). How To Develop a Coaching Plan for Your Team. Retrieved from https://www.indeed.com/career-advice/career-development/coaching-plan

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The Power of Strategic Life Coaching Templates

  • May 30, 2024

Table of Contents

a notebook, agenda, and cup of coffee

If you’re a life coach seeking ways to streamline your sessions and grow your business, coaching templates are a game-changer. In this blog, we’ve got you covered with a variety of ready-made downloadable documents, from printable life coaching session plan templates to free coaching templates to help you save time and keep your coaching practice organized. 

Let’s explore how coaching templates can transform your sessions and lead to better results for your clients.

What are Coaching Templates?

Coaching templates are ready-made documents that life coaches use to simplify their work, improve the client experience, and grow their business. These templates can be anything from client intake forms to goal-setting sheets, progress trackers, and beyond. They help coaches keep things organized and save time while delivering top-notch service.

Benefits of Using Coaching Templates

A coaching template is an essential life coaching tool , and here’s why.

Streamlining Processes

Coaching templates are great for streamlining your workflow and boosting efficiency. With templates for client intake forms, goal-setting, session agendas, and progress tracking, you can spend less time focusing on paperwork and more time coaching. Templates also keep your approach consistent, which can lead to better results for your clients.

Enhancing Client Experience

Coaching templates can boost the client experience by giving your sessions a clear and organized structure. Clients will appreciate the straightforward approach, feeling more supported and guided along their journey.

Scaling Business Operations

Keeping up with more clients can be tough as your coaching practice grows. Life coaching templates can make it easier to scale by offering a consistent way to manage sessions, communicate with clients, and track goals. They help you onboard new clients, delegate tasks to your team, and keep an eye on the bigger picture as your business expands.

5 Essential Coaching Templates

Here’s a list of 5 must-have coaching templates that can level up your sessions, with free download links for each one.

1. Printable Life Coaching Session Plan Template

A printable life coaching session plan template typically includes sections for goals, outlining discussion topics, planning activities or exercises, and noting key takeaways. With a solid coaching template, you can make sure each session has a clear structure and a purpose that drives results.

Sample Printable Life Coaching Session Plan Template

General Information

  • Name and Details: [Client’s name, contact info, address, age, etc.]
  • Frequency of Sessions: [Specify how often coaching sessions will occur]
  • Communication Methods: [How will you communicate with the client? In-person, phone, video, etc.]
  • Additional Information: [Any other relevant details about the client]

Coaching Goals

  • [List the client’s goals here]
  • General Assessment: [Describe how you’ll assess the client’s current situation]
  • Strengths: [Identify the client’s strengths]
  • Weaknesses: [Identify areas where the client needs improvement]

Action Steps

  • Timeline: [Specify the timeframe for achieving this goal]
  • Life coaching strategies, tools, and/or worksheets: [Detail specific strategies, tools, or worksheets to be used]
  • Milestones: [Set milestones to track progress]

Accountability and Support Systems

  • Relevant Tools, Software, and Resources: [List any tools, software, or resources that will aid in accountability and support]
  • How Systems Will Be Used: [Specify how these systems will be used to monitor the client’s progress]

Feedback Sessions

  • [Add information about how feedback sessions will be conducted]

Adjustments and Adaptations

  • [List down suggestions for adjustments or adaptations to the coaching plan to address any changes or lapses]

2. Client Progress Tracker Template

A client progress tracker template lets you monitor goals, achievements, challenges, and overall progress over time. This coaching template can also act as a visual guide to your client’s journey.

Sample Client Progress Tracker Template

  • Name and Details: [Client’s name, contact info, and age]
  • Coaching Goals: [List down the client’s goals]

Session Details

  • Session Number: [Is this the first, second, or a later session?]
  • Date and Time: [When did the session happen?]
  • Duration: [How long did the session last?]

Session Agenda

  • [List down the objectives of the session]

Session Notes

  • [List down your notes and observations from the session]

[This section covers the tasks completed during the session, identifies what still needs to be done, and details the assignments or tasks that will be given to the client to help them achieve their session goal]

Coach’s Assessment

[This section is mainly for the coach’s own assessment and comments. This could include insights on the client’s progress, challenges they faced, and recommendations for the next steps]

Goal Tracking

  • Short-term: [Indicate the percentage of progress your client has made toward their immediate goals]
  • Long-term: [Indicate the percentage of progress your client has made toward their broader long-term goals]

3. Goal-Setting Worksheet

A goal-setting worksheet helps you and your client nail down specific goals, break them into manageable tasks, and create a timeline for getting them done. This template is your go-to for making goal-setting discussions with clients smooth and productive.

SMART Goal-Setting Worksheet [Click here to download]

  • Date: [When did the session happen?]

4. Feedback and Evaluation Form Template

A feedback and evaluation form helps you collect insights on your coaching style, communication skills, and areas where you can improve. This template also lets you see what’s working and what might need tweaking in future sessions.

Feedback and Evaluation Form Template [Click here to download]

  • Session Number:  [Is this the first, second, or a later session?]

Please rate each statement on a scale from 1 to 5, where 1 represents the lowest rating and 5 represents the highest. Use the comments section to provide additional feedback or explanations for your ratings. Your input helps us improve our coaching sessions. Thank you for your time!

5. Coaching Agreement Template

A clear coaching agreement with your clients is crucial for setting expectations, defining boundaries, and building a successful coaching relationship. A coaching agreement template can cover key details like coaching objectives, confidentiality rules, payment terms, and session logistics.

Coaching Agreement Template [Click here to download]

For this one, we attached the International Coaching Federation (ICF) coaching agreement template – a reliable choice that aligns with industry standards and has been rigorously evaluated for quality and compliance.

a client sitting on a chair across from a coach

3 Tips for Utilizing Free Coaching Templates Effectively

Having a template is a start, but knowing how to use it effectively is what really counts. Here are 3 tips for getting the most out of free coaching templates:

Tip 1: Finding Reliable Sources for Free Coaching Templates

When hunting for free coaching templates, aim for trustworthy sources with sleek designs and user-friendly formats. Start by scouting reputable coaching websites, professional organizations, or even online marketplaces. Check reviews and pick templates that match your coaching style and objectives.

Tip 2: Customizing Free Coaching Templates to Fit Your Needs

Free coaching templates are great, but they might not always match your coaching style or your clients’ needs. That’s why it’s key to tweak them to fit your specific needs.

Assess Your Unique Coaching Style and Client Base

To customize free coaching templates, start by understanding your unique coaching style and your clients’ needs. Think about your coaching niche , how you work with clients, and what goals you help them reach.

Personalize with Branding Elements

Adding your branding to coaching templates is crucial for creating a cohesive and professional image. Include your logo, pick colors that represent your brand, and add any other visuals that align with your brand identity.

Adapt Language and Tone to Match Your Communication Style

Whether you’re more formal or laid-back, make sure the wording matches how you talk to clients. This way, the templates feel like a natural extension of your coaching approach, making the experience more personal for your clients.

Modify Sections and Fields to Align with Specific Goals and Objectives

Customizing free coaching templates means tweaking sections and fields to fit your goals and objectives. Whether you’re removing sections or changing fields to get the right info, or rearranging the layout for smoother flow, make sure the template works for your coaching practice.

Incorporate Additional Features or Sections for Enhanced Functionality

To get more out of free coaching templates, try adding extra features or sections to make them work better for your business. Consider combining two templates from separate sources or adding sections that boost the template’s usability for you and your clients.

Tip 3: Leveraging Free Coaching Templates for Business Growth

Free coaching templates can be a smart tool for marketing , getting clients , and growing your business. A great strategy is to offer free templates as lead magnets to attract new clients. By giving away valuable resources, you can show off your expertise and build credibility with potential clients.

FAQs About Coaching Templates

How do i know which coaching template is right for my specific needs.

Some templates lean into goal-setting, while others focus on accountability or reflection. It’s smart to check out a few templates and pick one that fits your coaching approach and the results you want to achieve with your clients.

Can I Use These Templates for Different Types of Coaching Sessions?

Most coaching templates are flexible enough for all sorts of coaching sessions—one-on-one, group, or online. But it’s always smart to adjust them to meet the specific needs of each client or session. You might need to change the questions, prompts, or exercises depending on what your clients are aiming for or what they’re up against.

Are There Any Legal Considerations I Need to Be Aware of When Using These Templates?

Always check that the templates you use comply with the relevant laws and regulations, especially when it comes to client confidentiality, data protection, and liability. If you’re unsure about the legal side of things, it’s a good idea to talk to a legal expert or a coach training organization.

Protect Your Coaching Practice Today!

Now that you know how to effectively utilize life coaching templates, it’s time to take action and transform your coaching practice. With these essential tools, you can streamline your sessions, deliver a better client experience, and grow your business like never before.

But don’t stop there. To keep your coaching practice secure and thriving, you need solid insurance coverage. Take the next step and complete an online life coach insurance application today.

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How to Design Payment Plans That Work for Both Coach and Client: Strategies and Examples

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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IMAGES

  1. The Ideal Life Coaching Business Plan Template Free & Easy to Use

    create a life coaching business plan

  2. 6 Expert Tips for Writing Your Life Coach Business Plan

    create a life coaching business plan

  3. Sample Life Coach Business Plan: Complete Template & PDF

    create a life coaching business plan

  4. How To Write A Business Plan For Life Coaches (With Free PDF Template

    create a life coaching business plan

  5. Life Coaching Business Plan: A Quick Template

    create a life coaching business plan

  6. How To Write A Business Plan For Life Coaches (With Free PDF Template

    create a life coaching business plan

VIDEO

  1. Free Coach Training

  2. How to Become a Certified Life Coach (Part 5)

  3. How to Become a Certified Life Coach (Part 4)

  4. How much should I charge for coaching?

  5. How to Start a Nutrition Coaching Business

  6. How you can overcome the work

COMMENTS

  1. How to Start Your Life Coaching Business Plan & Template

    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.

  2. How To Write A Life Coaching Business Plan: 5 Templates

    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.

  3. Coaching Business Plan: In 7 Easy Steps (+Free Template)

    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 ...

  4. How To Write a Business Plan for Life Coaches (With Free PDF Template)

    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.

  5. Coaching Business Plan Template [Updated 2024]

    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.

  6. How To Write A Life Coaching Business Plan + Template

    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 ...

  7. Coaching Business Plan: The Ultimate Guide To Creating Yours

    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.

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

    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.

  9. How to start a coaching business

    Step 1. You can start by finding relevant Facebook groups. For example, if you're a business coach, you could search "Small business" and then join the groups that pop up! In these groups, you should focus on posting helpful content & asking relevant questions so you could build long-term relationships. Step 2.

  10. How To Write a Business Plan for a Life Coaching Business + Free

    1. Clearly define your offering. To build a successful life coaching business, you must have a precise understanding of your services and how they stand out from the competition. Determine your areas of expertise—whether career, executive, relationship, life, or wellness coaching—and the specific challenges you can help clients navigate.

  11. Sample Life Coach Business Plan: Complete Template & PDF

    This sample life coach business plan contains a detailed operating and marketing plan for a life coaching business, including life coaching services, target market, marketing strategies, competition, and financial projections. It is a downloadable coaching business plan example that is available as a Google Doc, which can be used in Microsoft ...

  12. How to Write a Coaching Business Plan That Helps You Thrive

    2. Create a company description. The company description is a comprehensive introduction to your coaching business. This section is where you set the stage, providing readers with an understanding of your services, target audience, business structure, and mission and vision. The more specific you are, the better.

  13. Life Coach Business Plan Template (2024)

    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.

  14. How to Start a Life Coaching Business: Step-by-Step Guide for Success

    Step 3: Create a Business Plan. Before diving in, take some time to create a business plan. This will be your guide as you build your life coaching business. ... Starting a life coaching business can be incredibly rewarding. By following these steps, you'll be on your way to building a successful career as a life coach.

  15. A Simple Life Coach Business Plan to Get Your Practice Started

    The Simple 5-Part Coaching Business Plan. Mission & Vision. Target Market & Audience. Services & Pricing. Marketing & Sales. Financial Goals & Planning. Moving from Planning to Building. Setting up your own life coaching practice can be incredibly rewarding. But like any entrepreneurial journey, it requires a solid plan.

  16. How to Create a Simple Life Coaching Business Plan

    After all, there are plenty of steps you need to take to build your coaching business. You need to…. Find your business idea and audience. Understand how to position your offer. Learn marketing and sales. And to get a quick start, the best place to start is to talk to potential clients.

  17. How To Create A Concise Life Coach Business Plan

    This Forbes article describes a business plan succinctly: "A written business plan takes your vision and creates a clear path for making it a reality." Essential elements of an effective life coach business plan. In this article, we'll guide you towards creating a concise yet effective business plan that's relevant for a life coaching ...

  18. Choosing The Right Life Coaching Business Model + Templates

    With Quenza you can create life coaching business plan PDFs or access and amend your business plan at any time through the Quenza app. You can, of course, use the 3-step example we've already considered and create your own in a blank template using Quenza's Activity Builder as shown above.

  19. Free Life Coaching Business Plan Example

    Meet with a business advisor to plan growth (18 months) Consider bringing on additional coach (es) or admin support (24 months) Review progress and set next 3-year business goals (24 months) Download This Plan. Download a free life coaching sample business plan template. Part of our library of over 550 industry-specific sample business plans.

  20. Creating a Simple Coaching Business Plan 101

    Creating a coaching business plan takes a lot of research, understanding of the business world, a clear analysis of your Strengths, Weaknesses, Opportunities & Threats, and the ability to turn ambitions into reality. It is the foundation on which the tower of your business will stand and flourish. 1. Start your business vision.

  21. How to Start a Life Coaching Business: 8 Steps in 2024

    This month, your coaching client does different types of exercises to understand what their dream job really is. Month 2 - Apply to companies. In month 2, you help them apply, network, and get their name out there to help them get closer to their goal, finding a dream job. Month 3 - Interviewing.

  22. How To Develop A Coaching Plan: 12 Examples and Templates

    Successful coaching doesn't happen by accident, and even the best coaching tools can fail to deliver results without a proper game plan. Creating a coaching plan is a foolproof way to ensure you deliver the right solutions in the most strategic way for your clients, so you can supercharge their chances of success like a pro.. Before you begin, we recommend working along with Quenza's tools ...

  23. How to Start a Life Coaching Business

    7. Market your life coaching business. Marketing a life coaching business can be a challenge because instead of selling a tangible product, you're selling an outcome. As you create a marketing plan, focus your messaging on the training programs that you offer. For instance, rather than buying generic ads for life coaching services, sell ...

  24. Navigate Life Coaching Business Startup Essentials

    Here's how you can navigate the key factors before starting your own consulting business in Life Coaching. Powered by AI and the LinkedIn community. 1. Your Niche. Be the first to add your ...

  25. 5 Free Life Coaching Templates for 2024

    Here's a list of 5 must-have coaching templates that can level up your sessions, with free download links for each one. 1. Printable Life Coaching Session Plan Template. A printable life coaching session plan template typically includes sections for goals, outlining discussion topics, planning activities or exercises, and noting key takeaways.

  26. How to Design Payment Plans That Work for Both Coach and Client

    Discover comprehensive strategies for designing payment plans that cater to both coaches and clients. Learn about flexible structures, key considerations, and real-life examples to create effective, client-friendly payment solutions that enhance coaching success. Explore insights on pricing, scheduling, and customization to ensure mutual satisfaction and financial stability.

  27. ChatGPT

    Plan a 'mental health day' to help me relax (opens in a new window) Design a programming game teach basics in a fun way (opens in a new window) Make up a story about Sharky, a tooth-brushing shark superhero (opens in a new window)

  28. Department of Human Services (DHS)

    Our mission is to assist Pennsylvanians in leading safe, healthy, and productive lives through equitable, trauma-informed, and outcome-focused services while being an accountable steward of commonwealth resources. DHS Executive Leadership.