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.

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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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 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

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.

Finish Your Coaching Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

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

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

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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.

yoga for self mastery

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.

download business plan

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.
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Choosing The Right Life Coaching Business Model + Templates

Coaching Business Model

Building a profitable life coaching practice can be a lot of work. It involves a lot more than simply racking up your billable hours, and that alone sounds daunting enough to put off most aspiring practice owners.

Having a solid life coaching business model can take a lot of the complexity out of setting up and getting started, and it’s an essential way to stay on track as you scale up your practice and grow.

We’ll show you how to plan your own business plan in this article so that you can create, deliver, and capture value strategically while you grow. If you’re keen to design your own as you read, why not work along as you read with your 1-month, $1 Quenza trial ?

What is a Business Model? 2 Examples

If you’re like most new coaches, the words “business model” might conjure up images of how you deliver your sessions, from personal face-to-face coaching to online group sessions and similar.

While these do account for how you run your practice as a coach, there’s a little more to it.

Here’s what a sustainable business model looks like at its most basic, according to international business experts. [1] This diagram ties in beautifully with how Strategyzer co-founder Alexander Osterwalder defines a business model, which is: “…the rationale of how an organization creates, delivers, and captures value.” [2]

Life Coaching Business Model Example

Where do you think your session delivery fits into the above diagram?

That’s right—it’s only one part. As a coach, you need a business model that considers the elements of your value proposition, value creation, and value capture strategy, all of which work together to help you grow your practice.

Let’s take a closer look.

Crafting Your Life Coaching Business Model

So what does each element represent in real life?

Your life coaching business model is simply the rationale of how your practice creates, delivers, and captures value.

Here’s what each element represents.

Value Proposition

It’s critical to get very clear on your value proposition before you can create value as a new life coach—or before you start trying to scale up as an established practitioner.

You may have done this informally at some stage, but taking the time to solidify your offer is the key to creating consistent value sustainably over time.

You can create your proposition by formulating your promise as a life coach:

  • Who (specifically) do you help? Where can they be found? What are the defining characteristics of your dream client?
  • What before-state do you help them solve?
  • What after-state do you help them achieve?
  • What product or service do you use to help them achieve that?

This stage is all about being customer-oriented. If you haven’t created a dream client persona just yet, now is the time to do so as it will help you clarify your life coaching niche .

Value Creation and Delivery

The way you create value will stem from your proposition, and may even overlap with it if you’ve drilled down to the specifics of your offer.

Value creation is all about your product or service, whether that’s:

  • One-to-one sessions
  • Group or team coaching
  • E-courses, learning modules , or workshops
  • Information products, or
  • Life coaching packages featuring all the above.

This is where you can plan a differentiated or “signature” package that’s tailored directly to your dream clients. It’s also where you can consider free products that help you promote your business, such as downloadable, ebooks, or introductory discovery calls.

Growth Mindset Quenza Coaching Business Model

Delivery is just what it sounds like, and precisely what we looked at a little earlier. When it comes to how you’ll reach potential clients and how you’ll deliver your offer, consider the following questions:

  • Will I offer online, offline, or blended coaching solutions?
  • Where can I get in front of potential clients, e.g. what social media, blogs, or podcasts do they use?
  • How can I (better) tailor my solutions to their lifestyle, preferences, or needs?

Value Capture

Why did you start a life coaching practice in the first place? Value capture is all about what you  get out of coaching clients.

While you may have got into the field primarily to help others, this is where you think about the following:

  • What will my revenue streams be? (There will ideally be more than one!)
  • How will my pricing structure look? What differently priced packages/tiers can I offer?
  • What costs do I need to account for?

Recommended: How to Become A Life Coach: Best Online Certifications

Creating A Health Coaching Business Model

If this all sounds confusing, here’s how a (very) basic health coaching business model might look:

Life Coaching Business Model Example

Career Coaching Business Model: An Example

Let’s zoom in on an example career coaching business model to unpack it a little further.

Consider the following value proposition: “I help ladder-climber CXOs in Vancouver to land a promotion with in-person group coaching sessions and online learning modules.”

Your Value Creation and Delivery elements will of course be different from the health coaching clients in the last example, as your dream clients and expertise vary with the type of life coaching you do.

  • A few example key activities might be: a career health check, discovery call, team coaching sessions, workshops, or online classes
  • Resources could include: Group coaching package options, a downloadable ebook or worksheets, or podcast episodes, to name a few
  • Channels may look more like: LinkedIn, Glassdoor discussion boards, and contributions to Forbes or HRAscend, and
  • Tech might include online learning software .

Templates For Your Coaching Business Model

If you’re looking for more in-depth coaching business model templates, check out our full guide to   How To Write A Life Coaching Business Plan: 5 Templates .

how to start life coaching business Quenza

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.

A few other helpful resources include:

  • This Lean Canvas Coaching Business Model Template from Leanstack [3]
  • This collection of Value Proposition Canvases from Edit.org
  • This Business Model Canvas Template from Miro.com

A Closer Look: Business Model For Online Coaching

So what do you need to figure into an online coaching business model, if you’re practicing digitally?

A coaching management platform like Quenza makes it extremely easy to plan, manage, and even deliver all your different business model elements from one centralized location.

While you’ll still need to formulate your own value proposition(!), software such as Quenza helps you create and deliver value while differentiating your product.

Quenza offers a unique suite of online coaching tools that allow you to customize your products and solution, while reaching your target audience of dream clients anywhere in the world.

Let’s get specific, though.

11 Benefits of Using Digital Tools In Your Practice

Here’s how Quenza not only helps you configure value, but build your solutions too–and share them seamlessly with your life coaching clients.

With your subscription, you can:

  • Design entirely bespoke resources such as life coaching session plans , programs, and life coaching packages—both from scratch or from handy, free Expansion templates.
  • Deliver your personal or group sessions asynchronously and automatically by drip-feeding Pathway content to your clients (ideal for e-courses, classes, and learning modules).
  • Stay on top of your clients’ engagement and progress with live, HIPAA-compliant results tracking.
  • Develop information products, free lead magnets, and other paid solutions for sale on your life coaching website (e.g. habit trackers, gratitude journals , or standalone exercises).
  • Brand all of your solutions with your custom practice logo using Quenza White Label .
  • Give your clients a free, practice-branded, and multilingual coaching portal app for receiving their solutions, tracking their progress, and downloading your resources as PDFs.
  • Chat in real-time with your life coaching clients.
  • Manage cohorts with easy-to-use bulk import and export features, group chat, and more.
  • Keep notes on all your sessions and programs using Quenza’s private Notes feature.
  • Share video, audio, image, and PDF files securely at any time using Quenza Files .
  • Keep them on track and motivated using notifications, updates, and reminders, among other client engagement tools.

Best Software and App For Coaches

There is no shortage of different business model templates available online for life coaches, and you’ll also find a wealth of different apps for separate aspects of your planning and execution.

But when it comes to bringing all your plans, resources, and clients together in one connected space, Quenza is by far the best way to manage and grow your practice.

With Quenza, you’ve got all you need to deliver completely custom solutions directly to your clients in the way that suits you both best.

5 Ways You Can Use Quenza With Your Clients

Need some inspiration for your coaching business model? Here are some ways you can use Quenza to bring your strategy to life:

  • Develop a screening questionnaire to zero in on your dream clients
  • Plan out your signature coaching program using Expansions and resources as Pathway steps
  • Design and publish your free products, such as downloadable checklists, “How To” guides, interactive gratitude journals, and worksheets
  • Engage clients virtually  between sessions by scheduling homework for automatic delivery,
  • Create online learning modules, e-courses, or workshops featuring your personal Vimeo or YouTube files. Use them alongside your programs or as standalone life coaching products!

Final Thoughts

There’s a world of ways to create value, so planning your business model should be an exciting experience, not a daunting one.

Use these tips, frameworks, and examples to get you started, because these are the first steps to turn your day-to-day coaching job into a thriving business!

Don’t forget to start your $1 trial of Quenza for all you need to bring it to life.

Frequently Asked Questions

A coaching business model is the framework that outlines how a coaching business will generate revenue, attract clients, and deliver services. The most common coaching business models include one-on-one coaching, group coaching, and online coaching.

The most common coaching models are: – One-on-One Coaching: This model involves working with individual clients to achieve their specific goals. – Group Coaching: This model involves working with a group of clients who have similar goals or challenges. – Online Coaching: This model involves providing coaching services through online platforms, such as video conferencing or email. – Hybrid Coaching: This model combines one-on-one coaching with group coaching or online coaching.

To structure a coaching business, you’ll need to determine the type of coaching you’ll offer, define your target market, and establish your pricing and service delivery methods. You may also need to consider the legal and financial aspects of your business, such as registering your business, obtaining insurance, and managing your finances.

  • ^ Bocken, N. M., Short, S. W., Rana, P., & Evans, S. (2014). A literature and practice review to develop sustainable business model archetypes. Journal of Cleaner Production, 65, 42-56.
  • ^ Osterwalder, A., Pigneur, Y., Oliveira, M. A. Y., & Ferreira, J. J. P. (2011). Business Model Generation: A handbook for visionaries, game changers and challengers. African Journal of Business Management, 5 (7), 22-30.
  • ^ Leanstack.com. (2021). Lean Canvas. Retrieved from https://leanstack.com/lean-canvas

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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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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.

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

benefits of a life coach business plan

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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. 

Revenues 

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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create a life coaching business plan

We all understand the importance of having a plan. 

As people, we’re always trying to prepare for what’s coming next, whether that’s in our health, careers, or relationships. And as coaches, we listen to our clients’ needs and concerns to create short and long-term goals , define action items, and check in frequently to ensure they complete their coaching program . 

Sometimes, we have to be our own coach. When we set out to create and maintain a successful life coach business, we must outline a plan similar to those we make for clients. 

In this article, we outline how to create a life-coaching business plan so you can analyze the success of your operation, correct issues as they arise, and reach professional and financial goals. 

What’s a business plan?

A business plan defines your short and long-term mission and goals. Creating one provides an excellent opportunity to notice potential problems with your model and make corrections. 

A solid plan also acts like a detailed business card for investors. You can easily show them what your business is all about and how you plan to succeed. Thorough business plans feature comprehensive financial data , like cash flow statements, that help investors understand where your business is and where it’s headed. 

Creating a life coaching business plan

While we often have the relevant information in our heads, it can be challenging to know where to start when creating a business plan as a life coach . Make sure your plan covers the following sections: 

  • Executive summary: This is a high-level view of your business. Explain the nature of your coaching services and the client type you intend to serve.
  • Vision and mission statement: In this section, explain why life coaching is important to you , why you’re establishing this business, and where you hope to take it. 
  • Description of your services: Go in-depth on the services you intend to offer, like individual or group coaching programs and the coaching packages you’ll provide. 
  • Market analysis: Research other life coaching providers in your area to determine their target demographics and how their pricing and services compare to yours. Outline your market research findings for the reader, stating your target market and why. 
  • Competitive advantage: Explain what makes your business different and what will help it stand out among the competition. 
  • Marketing strategy: Detail how you plan to reach potential clients.
  • Financial plan: Provide any information you have on hand, like balance sheets or cash flow statements and talk about how you plan to reach your financial goals. Include the basics like upstart costs, any debt you’ll incur, and how you’ll make money to cover loans and overhead.

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Starting a business as a life coach

Once your plan is defined, it’s time to start strong. Here’s how to start a business as a life coach .

  • Define your business structure: Figure out how you’re going to operate and what structure your business will follow. Are you a solopreneur or embarking on a partnership? How do you want to organize your finances? Will you do the accounting or hire someone during tax season? 
  • Register your business: Research what steps your state requires to register your business and make sure you follow them carefully. 
  • Set a budget: Your business plan’s financial goals section should give you a clear idea of your start-up and overhead costs. Set a budget so you know how to distribute funds during the first few months. 
  • Define your brand: Before marketing your services, define the look and feel of your brand. Create a logo, decide on a color scheme, and establish a brand voice to use on your website and in marketing materials. Keep this image as consistent as possible, so coaching clients recognize your company wherever you go. 
  • Promote your services: Use the points in your marketing plan to guide the first promotional campaigns. Social media platforms are a great place to start because you can make aesthetically pleasing posts online, link to outside content like your website, and benefit from virtual “word-of-mouth” marketing as followers or satisfied clients share your posts with friends and family. 

Examples of successful lifestyle coaching companies

A great life coaching business prioritizes people . Perhaps these coaches have gone through challenging life changes themselves and want to share lessons learned. Or maybe they used a life coach once and are inspired to return the favor. 

No matter your reason for becoming a life coach, a little inspiration is a great place to start when developing a new business. Here are a few exemplary life coach companies — your company’s in good company. 

Lemonaid Healthcare

This revolutionary healthcare company takes a holistic approach, offering clients online coaching for life and wellness . 

Ama La Vida

This company, whose name translates to “love life,” pairs top coaches country-wide with individuals seeking to improve their career, health, or personal life . 

Pride Counseling

This business supports LGBTQIA+ folks by pairing them with community-member coaches.

Taking the next step

You’ve trained as a coach , made your business plan, and registered your business. You’re ready to open doors and embark on a rewarding career. Now what? 

Continue improving your coaching sessions and skills by taking advantage of Practice’s resources . Our app allows you to easily schedule appointments, communicate with clients , and take payments. We offer a variety of templates and blog articles to jog pre-session creativity and bolster your coaching practice.

Give your clients a simple and professional experience

Simple client management designed for teams, free form templates from practice.

Take the first step towards reducing stress with this comprehensive, professional coaching client intake form. Get started today!

Learn how to create a behavioral coaching plan with this template. Perfect for professionals who want to help their clients reach their goals!

Get started with leadership coaching with this easy to use questionnaire template. Quickly assess the needs of your clients and start the journey to success today!

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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:

hand shaking icon

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.

coaching business

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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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How to Start a Life Coaching Business

Almost everyone wants to better themselves, but many people struggle to make significant improvements. Life coaching business help people make the changes they want to see in their lives, whether those changes are related to their careers, health, relationships, or some other aspect of life.

A life coach is there to speak with clients about any issues the clients have, help clients set motivating goals for themselves, navigate through important personal and professional decisions, and much more. Though most life coaches help coach clients in various aspects in their lives, it is possible to specialize your coaching to an area about which you are really passionate. A few examples of specialized life coaches include health coaches, special needs life coaches, relationship coaches, career coaches, and executive coaches.

You may also be interested in additional side hustle ideas .

Learn how to start your own Life Coaching Business and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Life Coaching Business Image

Start a life coaching business by following these 10 steps:

  • Plan your Life Coaching Business
  • Form your Life Coaching Business into a Legal Entity
  • Register your Life Coaching Business for Taxes
  • Open a Business Bank Account & Credit Card
  • Set up Accounting for your Life Coaching Business
  • Get the Necessary Permits & Licenses for your Life Coaching Business
  • Get Life Coaching Business Insurance
  • Define your Life Coaching Business Brand
  • Create your Life Coaching Business Website
  • Set up your Business Phone System

We have put together this simple guide to starting your life coaching business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

  • What are the startup and ongoing costs?
  • Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Life Coaching Business Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

  • Your state's business records
  • Federal and state trademark records
  • Social media platforms
  • Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your life coaching business?

Business name generator, what are the costs involved in opening a life coaching business.

Starting up a life coaching business is a low-cost endeavor. Business owners need reliable transportation, a phone, a computer and internet access. Other expenses include marketing costs and insurance.

To keep initial expenses minimal, most business owners use their personal vehicle, phone and computer when starting out, and they meet clients in public places (e.g. coffee shops or business centers).

What are the ongoing expenses for a life coaching business?

The ongoing expenses for a life coaching business, like the startup expenses, are low. Ongoing costs include expenses for insurance, marketing, transportation, internet access and a phone. Coaches that hire employees and open offices also have labor, rent and utility expenses, but coaches don’t have to take their business in this direction.

Who is the target market?

Your clients will be people that are looking to make improvements in their lives. They may be people who feel like they are caught in a slump and need a kickstart to start succeeding the way that they want to, or they may be already successful individuals that are looking for someone to help coach them through successfully managing the various tasks and situations that they have to handle.

Regardless of the situation in which your clients find themselves, they will be looking for a life coach who gives off an aura of success, confidence, and support.

How does a life coaching business make money?

A life coaching business makes money by charging clients for coaching services. Coaches often either charge an hourly fee or request a retainer. (A retainer is when a client is guaranteed that a professional, such as a coach, will be available for a certain amount of time in a given week or month.)

Top life coaches charge as much as $3,500 per hour to help CEOs and other executives, but few are able to command such high salaries. Most life coaches’ hourly rates fall between $75 and $200 per hour coaching a client, which doesn’t typically include prep time. When working on a retainer, coaches typically charge a client between $500 and $2,000 per month .

How much profit can a life coaching business make?

Citing an ICF study, the Bureau of Labor Statistics reports that the average life coach earned $61,900 in 2015 . This is substantially higher than the median annual wage of $36,200 that year.

How can you make your business more profitable?

Life coaches can increase their revenue by offering coaching online, or running classes or seminars. Online coaching doesn’t require traveling to meetings, so life coaches are able to serve more clients. Classes and seminars also help coaches reach more clients, as they can speak to several people at once in each setting. Classes and seminars can be especially successful after a coach has a list of established clients to recruit to a class or seminar.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your life coaching business is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

  • Separates your personal assets from your company's assets, which is necessary for personal asset protection.
  • Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

  • Separate personal and business expenses by putting your business' expenses all in one place.
  • Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate a life coaching business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits.

In addition, certain local licensing or regulatory requirements may apply. For more information about local licenses and permits:

  • Check with your town, city or county clerk’s office
  • Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources.

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Services Contract

In businesses where services are provided on an extended basis, a services contract is often put in place outlining terms and conditions of service.

Life coaching businesses should require clients to sign a services agreement before starting a new project. This agreement should clarify client expectations and minimize risk of legal disputes by setting out payment terms and conditions, and service level expectations.Here is an example of one such services agreement.

Coaching Disclaimer & Waiver

Life coaches need to make it clear to their clients that they are not trained medical professionals. This can be accomplished by having clients sign a release of liability form .

Certificate of Occupancy

A life coaching business may be run out of an office, which helps provide a space for meetings. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO) . A CO confirms that all building codes, zoning laws and government regulations have been met.

If you plan to lease a location:

  • It is generally the landlord’s responsibility to obtain a CO.
  • Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a life coaching business.
  • After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.

If you plan to purchase or build a location:

  • You will be responsible for obtaining a valid CO from a local government authority.
  • Review all building codes and zoning requirements for your business’ location to ensure your life coaching business will be in compliance and able to obtain a CO.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Life Coaching Business needs and how much it will cost you by reading our guide Business Insurance for Life Coaching Business.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a life coaching business

Radio and newspaper advertisements can be incorporated into a life coaching business’ marketing plan, but few efforts are more effective than word-of-mouth marketing. Business owners can ask their current clients for referrals to other potential clients, possibly offering a free meeting as an incentive to refer someone. They also can attend networking events, where people can get to know them. Even if no one at a networking event needs life coaching, they might recommend someone else who could use the service.

How to keep customers coming back

A life coaching business can distinguish itself by specializing in a particular niche, which may be a particular industry or area of life. Focusing exclusively on a specific niche may limit a business’ target market, but it also sets the business apart from generic life coaching businesses. A business owner who is specialized will be able to anticipate clients’ needs better and offer more unique insights, both of which are benefits that clients may seek out.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

  • All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
  • Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
  • Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

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Welcome to the Startup Savant podcast , where we interview real startup founders at every stage of the entrepreneurial journey, from launch to scale.

Is this Business Right For You?

Anyone who has been able to achieve their own goals and would like to help others may be well-qualified to be a life coach; however, there are courses available to teach coaches the most effective strategies to use with clients. Coaches typically have strong interpersonal skills, as the success of a life coaching business depends entirely upon the business owner’s ability to connect with and assist other people.

Business owners’ calendars need to be able to accommodate meetings with clients, but these meetings can be scheduled during business hours, evenings or weekends. Many life coaches have started their businesses by working as a coach part-time during non-business hours while remaining employed part- or full-time, and then transitioned to coaching more as their business grew.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a life coaching business?

Life coaches spend much of their time meeting with clients. Many coaches meet with each client two to four times in each month. Meetings usually last between 20 and 60 minutes, but this doesn’t include doing pre-meeting preparation, driving to and from meetings, and taking post-meeting notes. An hour-long meeting may easily take up two hours of a business owner’s time, especially if it’s held at a client’s location.

Coaches can reduce the time they spend driving to and from meetings by having clients come to an office. Clients may not want to drive to an office, though, and running an office increases overhead. When not meeting with clients, life coaches often spend time building on their own skills by attending seminars and marketing their businesses.

What are some skills and experiences that will help you build a successful life coaching business?

In most places, there is no legal obligation to obtain certification for life coaching. Anyone can start a business and be a self-proclaimed life coach. However, becoming a certified life coach can provide a lot of benefits that will help you succeed in your coaching. Two of these benefits are very important.

First of all, certification helps to distinguish you from the “self-proclaimed life coaches” that have sprung up online. It is not uncommon for someone to abuse the lack of legal certifications in order to take advantage of clients. So your potential clients will worry about the legitimacy of your business if you are uncertified. Certification will provide your clients with a sense of trust before you even begin to work with them.

Secondly, certification involves training that will help you become the best coach you can be. Not only will training help you learn techniques that will help you service clients as well as you can, it will also help you learn how to think like a successful coach in order to succeed in your own personal and professional endeavors.

You can learn these beneficial life coaching strategies and methods through books, such as  The Life Coaching Handbook , and classes, like the training programs offered by the International Coach Federation (ICF) . The International Association of Coaching (IAC) also has resources available for members.

What is the growth potential for a life coaching business?

Life coaching business’ brands often revolve around the business owner. Even if a business has employees providing coaching service, the business owner is usually the leader who oversees all coaching. Therefore, they become the face of the company.

Because the business owner is largely a life coaching business’ brand, the growth potential is somewhat limited. Business owners often garner a reputation within a geographic region or an industry, and this market eventually defines how large a business can become.

Not sure if a life coaching business is right for you? Try our free Business Idea Generator and find your perfect idea.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting a life coaching business?

When working as a life coach, it’s vitally important to “dress for success.” Clients hire life coaches to help them be successful, and portraying an image of success will give clients confidence in a business. Life coaches should both look professional and act professional whenever they’re seeing clients.

Having a credential can also give clients confidence. The most widely recognized credentialing body is the ICF , which offers associate, professional and master coaching certifications.

How and when to build a team

Life coaching businesses can be run by one person, and some coaches never hire employees. Others find that hiring a personal assistant streamlines their workflow, as an assistant can help prepare documents and schedule meetings. A few life coaches hire other employees to coach clients in specific areas. Having several employees, each specializing in a different area of coaching, helps a business appeal to a broader market and lets it provide more comprehensive coaching.

Useful Links

Industry opportunities.

  • International Coach Federation
  • International Association of Coaching
  • Learn about more Online Business Ideas
  • Franchise opportunity with Action Coach

Real World Examples

  • Life Empowerment Coaching, an Ann Arbor-based company
  • New York Life Coaching, based in NYC

Further Reading

  • How-to guide: starting a life coaching business
  • Top 10 Professional Life Coaching Business
  • The Life Coaching Handbook: Everything you need to be an effective life coach by Curly Martin

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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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9 Steps To A Lean Life Coach Business Plan (2024)

You’re about to learn how to create a lean life coach business plan, and why this is essential for a successful coaching career.

As an experienced life coach, I can’t emphasize enough the importance of a well put-together business plan. 

However, I also strongly believe that a ‘lean’ plan will ultimately prove to be more beneficial to you. 

Read on to discover why…

Life Coaching Business Plan: Why Less Is More

A business plan is your written strategy for success.

Without one, you’re essentially ‘winging it’ with your coaching business and hoping for the best. 

With one, you’ll make smarter, more focused and more rational decisions. You’ll find it easier to spot potential obstacles and opportunities for growth.

Perhaps you won’t be surprised to hear that a business owner who writes a business plan grows their company 30% faster on average.

Marisa Peer RTT Courses

What is a lean business plan – and why should a life coach use one? 

A ‘lean’ business plan has all the unnecessary details trimmed off – leaving a concise document detailing only the most essential ingredients for success.

You can ‘get away’ with writing a lean business plan when you have no plans to present it to outside investors. 

But there are more advantages than saved time… 

The main advantage of a ‘lean’ business plan is that it’s easy to revisit and adjust and – if you want to thrive within your life coaching business – you are encouraged to do so every month.

It’s the continuous tweaking of your business plan – based on the ups and downs you encounter – that cultivates tremendous growth. 

Lean business is around the process of plan, do, check, adjust (PDCA). You can learn more about this strategy in Eric Ries’ book ‘ The Lean Startup ’.

create a life coaching business plan

How To Write A Lean Life Coach Business Plan

Here are the nine sections you should definitely add to your lean life coaching business plan. 

1. Mission Statement

This is a short explanation of why your life coaching business exists. Try and explain this in one or two sentences. 

Within your mission statement, consider explaining who you can help, what changes you can bring to people and how.

Your mission statement is a key part of your coaching business plan. It should be used to guide all future business decisions. 

Related: A Goal Without A Plan Is Just A Wish: Steps For Effective Planning

2. Vision 

This is a future-oriented statement explaining your ultimate long-term goals.

Why are you starting your coaching business? How would you like to impact your clients, your local community or the planet as a whole?! 

Ideally, this vision is extremely detailed and inspires you to keep going when times are tough. Add it to the top of your business plan, alongside your mission statement. 

As Nietzsche famously said: “He who has a “why” to live can bear almost any “how’”.

3. Business Type/ Description

You can set up your business as a sole proprietorship, partnership or a limited liability corporation (LLC).

There are tax and other financial implications based on what you choose. Sole proprietorships and partnerships are more or less the same, except the former only has one business owner. A key difference to note is that business owner(s) aren’t responsible for business debts when they set up an LLC.  

Your plan should state what type of business you are planning to set up, plus a business description, which lists what products and services you offer, plus the cost of them. 

While it is possible to be a generalist life coach, there are several niches that you may want to consider entering.

These include:  

  • Mindset coaching
  • Business coaching
  • Empowerment coaching
  • Grief coaching
  • Intimacy coaching
  • Career transition coaching
  • Intuitive coaching
  • Life coaching for teenagers

Ideally, you’ll have decided the niche you want to break into before you create your life coaching business plan, so you could choose a training course that best supplements these desires.    

Related:  Expert Tips – Marketing For Coaches – Next Level

5. Target market

When you try and appeal to everyone , you’ll often fail to make a strong impression on anyone.

It will be extremely difficult to gain a reputation as the best life coach on the planet, but it is certainly possible to become the go-to coach in a specific niche. 

This is why it’s important to choose a defined target market and gear all your marketing towards them.

You’ll want to market yourself in the places where your target audience spend time and speak in a language they relate to.

When choosing your market, you’ll want to define demographic factors such as: 

  • gender; 
  • spending power; 
  • geographical location; 
  • occupation. 

Your life coaching business plan should paint a picture of your ideal customer in as much detail as possible. The more specific, the better.

In order to find the best market for you, consider what group you will naturally be able to provide the most help to. Who will you get the most satisfaction from helping? Make sure you price your coaching services so your target market can afford them!

It will also help for you to gather data on the supply and demand for your niche of coaching among this demographic. Is there a gap in the market you can fill? Perhaps you will need to conduct some research to find out.  

It will certainly make it easier for your business to succeed if there is a high demand for your brand of coaching within your target market (especially if there is a low supply).

6. Unique selling point 

In order to become the number one in your chosen niche, you need to have a unique selling point. What will make your target audience choose you over your competitors?

You would certainly need to figure this out to make outside investors want to fund you – but it’s just as important in a ‘lean’ business plan too.

If you can’t explain why people would choose your business, it’s probably not a good business plan!

It’s highly recommended to conduct a SWOT analysis of your business within your coaching business plan. These are your strengths, weaknesses, opportunities and threats. 

If you can successfully identify your weakness and threats – and create a solid strategy to overcome them – this really helps to make a strong and compelling business plan. 

Related:  How To Make A Life Plan Worksheet That Succeeds

7. Marketing

If you’re a member of the International Coach Federation (ICF), you’ll have access to plenty of materials to help you market your business successfully. Most ICF-accredited training programs will include information on marketing your coaching business too. 

Still, your personal marketing strategy should mostly be determined by:

  • your target audience (and where they spend their time);
  • your marketing budget. 

However you choose to market yourself, it should be written in this section of your lean business plan. Include your estimated monthly costs for each marketing platform. 

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8. Competition

This may well be covered in the ‘threats’ section of your SWOT analysis, but you can go into more detail in this section of your business plan. 

Who are your competitors? What are their unique selling points? How much do they charge for their services? What makes you better than them? Can you justify charging a higher price than them?  

Related:  How To Get Coaching Clients: 13 SECRET Tactics

9. Finances

In a formal business plan, this section would need to be extremely detailed, so third parties could see they were making an intelligent investment.

For a ‘lean’ business plan, you don’t need to go into quite as much detail. Still, it will be important for you to make sure you are launching a financially viable business. 

It’s easiest to create this in a spreadsheet. A formal business plan will typically include financial projections for at least three years. With a ‘lean’ business plan, you can perhaps get away with making projections for the upcoming year. Remember, you’ll be updating a ‘lean’ business plan on a monthly basis. 

At the very least, you’ll need your lean business plan to include:  

  • Spending budget. How much will you need to spend to launch your business? How much are your monthly expenses? Make an estimate for each of them. Remember to include taxes. 
  • Sales forecast. This might be harder to predict than your spending. That’s why it’s a good idea to make three forecasts: a worst-case scenario forecast, target forecast and stretch target forecast. Your sales forecast should determine your spending budget. That’s how you ensure you don’t overspend.

You don’t need a business degree in order to create a sales forecast. Simply make an educated guess based on research of other businesses in your niche. Below, I have added some details of how much an average life coaching business earns. 

create a life coaching business plan

Related:  Insights On Developing A Coaching Plan

How Do You Start A Life Coaching Business?

One great advantage of setting up a life coaching business is that you don’t need to do too much to get started.

Most coaches work from home and communicate with clients using online video calls.

Still, there are few tasks you need to complete in order to become a legitimate business owner.

Here is a checklist for you:

  • Register your business name. 
  • Register your business with the government for tax purposes.
  • Set up a website. You’ll need to pay annually for a reliable hosting provider and a domain name.
  • Set up a business bank account and online payment processor.  
  • Purchasing your equipment. A great bonus about life coaching is that overheads tend to be low, especially if you’re working online. Most online coaches work from home, so they only really require a decent camera, microphone and internet connection.  
  • Commence marketing. Once you find a marketing formula that brings in more than it costs, begin scaling!  

Related: Expert Strategies On How To Get Clients As A Life Coach

How Do You Get Clients As A Life Coach?

You now know how to become a life coach , but knowing how to become a life coaching success is a completely different problem. 

This question should be answered fully in the marketing of your coaching business plan.

Some coaches make use of social media. Others gather leads via a blog or a YouTube channel. 

If you’re only engaging in face-to-face coaching, it might make more sense to explore offline marketing channels.  

The most important thing to figure out is where your target market is most likely to see your marketing efforts.

Many coaches turn their leads into customers by offering a free trial consultation. This helps both the client and the coach see whether working together will be mutually beneficial.

Related:  Proven Strategies To Take Massive Action

What Qualifications Do You Need To Be A Life Coach?

Life coaching is an unregulated industry, so there is nothing stopping you setting up a coaching business and marketing your services with no qualifications today.

However, the reality is: it’ll be extremely difficult for you to attract any clients, let alone a steady stream of them, with no qualifications.

Anyone who does a couple of minutes of research about how to find the best life coach will be advised to work with a certified individual.

At the time of writing, an ICF-accredited certification is by the far most prestigious qualification that a life coach can gain. 

The International Coach Federation (ICF) is globally-renowned for having the strictest standards when accrediting life coaching courses, so it’ll be well worth your time to get an ICF-accredited certification. 

To help you choose your training course, I have listed 6 of the best ICF-accredited life coach accreditations . 

create a life coaching business plan

How Much Money Will You Earn As A Life Coach?

Life coaches are free to charge clients as much as they want.

Ultimately, they’ll charge as much as the laws of supply and demand dictate. Typically, demand is higher for coaches with the best qualifications and most experience, which is why you can expect a life coaching business to earn more money the longer you stay in it. 

A solid marketing strategy and a variety of products and services will go a long way too. 

With that said, there have been many studies conducted to help estimate what an average life coach can expect to earn in a year. 

A recent study commissioned by the ICF and conducted by PriceWaterhouseCoopers concluded that the average global salary of life coaches is $51,000 . That was based on data from over 15,000 coaches in 137 countries. 

The survey found that the country you’re based in has a huge impact on your earning potential. Click to discover the average life coach salary in your part of the world. 

Lean Life Coach Business Plan Template

Any more questions about a life coaching business plan?

I hope this guide will help you understand the importance of penning a lean life coaching business plan – and give you the information you need to get started.

If you have any more questions about putting together a coaching business plan, you can ask them in the comments section below. 

It would be great to hear from you!

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About The Author

Bijan Kholghi is a certified life coach with the Milton Erickson Institute Heidelberg (Germany). He helps clients and couples reach breakthroughs in their lives by changing subconscious patterns. His solution-oriented approach is based on Systemic- and Hypnotherapy.

Bijan

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Steps to Creating a Killer Life Coaching Business Plan With a Template

Charting your course: the step-by-step guide to creating a life coaching business plan.

Life coaching business plan

How To Write A Life Coaching Business Plan to Turn Your Dreams Into Reality

Introduction.

Welcome to the world of life coaching, where your expertise and passion can make a meaningful impact on people’s lives. Perhaps you’re ready to start a business as a life coach or grow an existing life coaching business, but you have one problem: a solid business plan .

I wrote this article for you! In this post, we’ll guide and help you create a simple yet successful coaching business plan that is tailored specifically to your unique coaching services. The business plan for your coaching business is the blueprint, the map, or the growth plan for your life coaching services .

This essential document will not only help establish clear business goals and strategies but also attract potential coaching clients and partners who share your vision. So grab a cup of coffee, settle in, and let’s get started on crafting a blueprint that will set your life coaching business up for success!

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.”  ― Pablo Picasso, painter

Essential Components Of A Successful Life-Coaching Business Plan

The coaching business plan includes the following key components:

  • Executive summary
  • Company description
  • Services and products offered
  • Marketing and sales strategy
  • Financial analysis

Let’s get into the nuts and bolts…

Executive Summary

The executive summary is one of the most important components when creating a coaching business plan. This section should provide a high-level overview of what your coaching business does and its current status.

The goal of the executive summary is to quickly engage your reader, so keep it concise and focused.

A well-written executive summary should include details about your vision and mission statements, as well as any key objectives or goals you hope to achieve with your coaching practice.

You may also want to touch on aspects such as target market demographics , revenue projections for the next few years, and any unique selling propositions that set you apart from competitors in the marketplace.

Remember that this section is often the first thing potential investors or partners will see when reviewing your business plan – so make it count!

Company Description

Your company description is a crucial section of your business plan . It provides an overview of your practice and helps potential clients understand what you offer. Here are some key elements to include in your company description besides the business name:

Mission statement: This should be a concise statement that defines the purpose and values of your practice.

Services offered: Describe the types of coaching services you offer, such as one-on-one coaching or group sessions.

Target audience: Who are the ideal clients for your practice? Be specific about demographics, interests, and pain points you can help solve.

Unique selling proposition: What sets you apart from other coaches in the industry? Identify what makes your coaching approach unique and valuable.

Business structure: Detail how your practice is set up, including the legal structure and management team if applicable.

By crafting a thorough company description for your life coaching business plan, you’ll be better positioned to attract clients who align with your practice’s mission and values.

Services and Products Offered

You want to make sure that your services and products are clearly outlined in your business plan. This section should include details about the coaching programs you offer, such as one-on-one sessions or group coaching. It’s also important to describe the benefits of each program and how they address specific client needs.

For example, if you offer career coaching , be sure to specify what types of issues or challenges you focus on addressing. You could discuss how you help clients identify their strengths and passions or develop effective job search strategies.

Providing concrete examples of success stories from previous clients will further demonstrate the value of your services.

Additionally, this section can also detail any additional products or resources that supplement your coaching programs. Perhaps you offer e-books or online coaching business courses focused on personal development topics like time management or stress reduction.

The more comprehensive your offerings can be, the better equipped potential clients will be when deciding whether to work with you as their coach.

Marketing and Sales Strategy

Marketing and sales strategy is a critical component of any successful life coaching business plan.

Here are some tips on how to develop an effective strategy that will help grow your coaching practice:

Define your target market: Identify the specific group of people who are most likely to need and benefit from your coaching services. This could include individuals facing a major life transition, entrepreneurs looking to grow their businesses, or executives aiming to improve their leadership skills.

  • Develop a unique selling proposition (USP) : To stand out from competitors in the coaching industry, you need to articulate what makes your coaching services different and more valuable than others in the marketplace. Your USP could be based on your specialized knowledge perhaps gained through certification , personal experience, or coaching approach.
  • Determine the best marketing channels : Consider which mediums and platforms are most likely to reach your target market. This may include social media ads, email campaigns, networking events, or speaking engagements.
  • Create compelling content: Develop content that speaks directly to the needs and desires of your potential clients. This could be blog posts, podcasts, videos, or e-books focused on topics related to personal growth or professional development .
  • Establish trust with prospects : Coaching is a personal service that relies heavily on building trusting relationships with clients. It’s important to establish credibility by showcasing testimonials from satisfied clients or presenting case studies demonstrating the success you’ve helped others achieve. This shows what problems your business will solve for them when deciding to sign up.
  • Define your sales process: Develop a clear process for converting leads into paying clients. This might include offering a free consultation session, c onducting assessments , or providing customized proposals for each prospect based on their unique needs.

By taking these steps and consistently executing a well-designed marketing and sales strategy as part of your business plan, you can attract new clients and build a thriving life coaching practice and live the life you want as you help others achieve theirs.

Financial Analysis

As a life coach, you enjoy what you do for your life coaching clients but your finances are also paramount. The financial analysis section of your coaching business plan will help you evaluate the viability and sustainability of your venture.

This section should detail projected expenses and revenue streams to establish a clear picture of how much money will be needed to launch and maintain operations.

An important part of financial analysis is conducting a break-even analysis. This analysis allows you to determine how many clients or customers must be served before reaching profitability.

Additionally, including balance sheets in this section is vital to demonstrate assets, liabilities, and equity in the company. By accurately estimating business costs from start-up through year one and beyond with intelligent cash-flow modeling, you’ll have an informed basis for understanding when profits can potentially be realized.

Whether you’re considering an external investment or looking inwardly at where finances are coming from within the company structure itself, it’s imperative that all aspects are crystal clear when putting together any funding pitch. Potential investors can quickly understand whether they want to invest their time (and money) into supporting.

How To Create A Comprehensive Business Plan For Your Life Coaching Business

Here’s how to actually go about doing the putting it all together regarding the information discussed in the last section:

Learn how to:

  • Conduct market research,
  • Define your niche and target audience,
  • Analyze competition,
  • Outline coaching services and pricing,
  • Develop a marketing and sales plan, and
  • Build a financial plan.

Conducting Market Research

When you create your business plan , a thorough market research enables you to understand the needs and preferences of your target audience, identify the competition, and develop strategies that can set you apart from others in the industry.

One effective way to conduct informal market research is by talking to potential clients or people who have used coaching services before. This will give you insight into their pain points, what works for them, and what doesn’t.

Another way is by reviewing online forums or social media groups where your target audience converges. Here you can engage with them directly, and evaluate their comments and opinions about different topics related to coaching services.

It’s also essential to keep an eye on the industry outlook and trends within it as these factors affect businesses’ success. Knowing where the demand lies and which niche areas are growing can help steer your business planning decisions toward profitability while mitigating risks associated with outdated business models.

Defining Your Niche and Target Audience

Starting a coaching business requires that you define your niche and target audience. This will help in promoting your business. Here are some tips to help you define both:

  • Define your coaching niche: This is a specific area of expertise that sets you apart from other coaches. Think about what areas you excel in, such as career coaching, relationship coaching, or wellness coaching.
  • Identify your ideal client: Determine who would benefit most from your coaching services. Consider age range, gender, occupation, income level, and other factors that are important to your niche
  • Conduct market research: Look at what other coaches are offering in your niche and identify gaps in the market where you can offer unique services.
  • Develop a buyer persona: Create a detailed profile of your ideal client based on their demographics, interests, and pain points.
  • Test your target audience: Once you have identified your target audience, test it by offering free consultations or surveys to gather feedback on whether they would be interested in paying for your services.

Remember that defining your niche and target audience is an ongoing process that may change as you grow and evolve as a coach. Continually evaluating and refining these areas will allow you to better serve your clients and build a successful life coaching business.

Analyzing Your Competition

Another crucial element to include in your life coaching business plan is a competitor analysis. By researching and analyzing your competitors, you gain insight into what works in the market, what doesn’t, and how you can differentiate yourself from others.

Your competitor analysis should identify other life coaches offering similar services within your target audience and niche.

For example, if you specialize in career coaching for women who are re-entering the workforce after a gap, research other coaches who offer similar services. Look at how they grown their coaching business: their pricing structure, marketing strategies, social media presence, and customer reviews to determine what sets them apart from others in the same category.

Once you have identified their strengths and weaknesses as well as unique selling propositions (USPs), integrate this information into your own business operations plan.

For instance, if most of your competitors do not provide group coaching sessions but clients express interest in that service when surveyed or interviewed by phone or email; use it as an opportunity to offer something unique that could make potential customers choose you over other providers they’ve researched.`,

Outlining Your Coaching Services and Pricing

As a life coach, it’s essential to outline your coaching services and pricing in your business plan. This will give potential clients an idea of what you offer and how much they can expect to pay for your services. Here are some tips on outlining your coaching services and pricing:

  • Define Your Coaching Services : In your business plan, clearly describe the type of coaching services you offer. Are you a career coach, wellness coach, or relationship coach? Be specific about the benefits and outcomes clients can expect from working with you.
  • Determine Your Pricing Strategy : Decide whether you’ll charge an hourly rate or a package rate for your coaching services. You may also offer tiered packages that increase in price as the level of service increases.
  • Outline Your Payment Terms: Include payment terms in your business plan , such as when payment is due and any late fees.
  • Consider Other Revenue Streams: Think about other ways to earn money through your coaching business, such as selling books, creating online courses, or speaking engagements.

Remember that pricing should reflect the value of your coaching services while remaining competitive with others in the industry. Always be upfront with clients about pricing and set clear expectations for payment terms to foster trust and transparency in your coaching practice.

Developing a Marketing and Sales Plan

Developing a marketing and sales plan is crucial to the success of your life coaching business . It involves creating a strategy for attracting potential clients and converting them into paying customers.

To start, conducting market research can help you identify your target audience, understand their needs and preferences, and tailor your approach accordingly. Consider using social media platforms or email marketing to reach out to prospects directly.

Another key component in developing a marketing plan is defining your unique selling proposition (USP). Your USP sets you apart from other coaches by highlighting the specific benefits you offer that others don’t.

For instance, if you specialize in career coaching, make sure to emphasize that in your messaging. Additionally, pricing plays an important role in generating sales leads; ensure that it’s competitive as well as sustainable for running your business long-term.

Building a Financial Plan

Here are some key steps to consider when developing your financial plan:

Determine your start-up costs : This should include everything from office supplies to marketing expenses and legal fees.

Forecast revenue: Estimate how much income you can generate through coaching services, including one-on-one sessions, group sessions, and online coaching programs.

C r eate a pricing strategy : Determine how much to charge for each type of service based on market research and the value you offer as a coach.

Develop a budget : Analyze your expenses and revenue projections to create a monthly budget that helps you stay on track financially.

Monitor cash flow : Keep track of your income and expenses on a regular basis to ensure you have enough cash flow to cover all costs and pay yourself.

By taking these steps, you can ensure that your life coaching business is financially stable and sustainable in the long run.

Tips For Writing A Successful Business Plan For Your Life Coaching Business

When writing your business plan, consider these:

  • keep it focused and concise;
  • use realistic financial projections based on your market research;
  • seek feedback from others;
  • continually update and revise your plan as needed; and
  • consider hiring a professional business plan writer if necessary.

Keeping It Concise and Focused

When writing a business plan for your life coaching business, it’s crucial to keep it concise and focused. Here are some tips to help you achieve this:

  • Stick to the essential components : Your business plan should only include the necessary sections, such as an executive summary, company description, services and products offered, marketing and sales strategy, and financial analysis.
  • Avoid unnecessary details : While some details can be important, don’t get bogged down with too much information. Keep your writing clear and straightforward.
  • Use bullet points and subheadings: This will help break up the text and make it easier to read. It also allows readers to quickly find the information they need.
  • Be realistic with financial projections: Don’t overestimate income or underestimate expenses. Use realistic figures based on research and industry standards.
  • Focus on your niche and target audience: A targeted approach will allow you to develop specific marketing strategies that resonate with your ideal clients.
  • Get feedback from others: It’s always good to get a second opinion on your business plan from someone who’s not familiar with your business or industry.

Remember, a concise yet comprehensive business plan can help guide you toward success in your life coaching business!

Using Realistic Financial Projections

When creating a business plan for your life coaching business, it’s essential to include realistic financial projections. These projections will help you determine the feasibility of your business idea and give you a roadmap to follow when launching and growing your business.

To create accurate financial projections , start by researching industry benchmarks and pricing strategies. This will help you identify how much revenue you can realistically generate from your services.

Additionally, make sure to account for all potential expenses, including marketing costs, equipment purchases, and employee salaries if applicable.

Remember that financial projections are not set in stone and should be revisited regularly as conditions change. By using realistic estimates, you’ll be better prepared to navigate any challenges that may arise while building a successful life coaching business.

Seeking Feedback From Others

As a life coach, seeking feedback from others can help you refine your coaching techniques and better understand your target audience . Here are some ways to gather feedback:

  • Ask current clients for their thoughts on your coaching style, communication skills, and overall effectiveness.
  • Attend industry events and networking opportunities to connect with other coaches and gain insights into best practices.
  • Consider hiring a coach yourself to receive feedback and guidance on your own coaching business.
  • Utilize social media platforms like LinkedIn or Facebook groups to join communities where you can ask questions and learn from others in the industry.
  • Participate in peer reviews or assessments with other coaches to receive constructive criticism and identify areas for improvement.

Remember that seeking feedback should be an ongoing process as you continue to grow and evolve as a life coach. Use the insights gained from feedback to make meaningful changes that will ultimately enhance your services and attract new clients.

Continually Updating and Revising Your Plan

As a life coach, it’s important to understand that developing a solid business plan is just the first step toward building a successful coaching practice. The key to sustained growth and success lies in continually updating and revising your plan as you go.

This involves regularly reviewing your strategy, refining your services, and making necessary changes to keep up with the evolving market.

One effective way of ensuring this is by setting aside time each quarter or year to assess the progress of your coaching business against the goals set out in your initial plan.

Based on these insights and feedback from clients, you can then adjust aspects of your marketing strategy, pricing model, or service offerings accordingly.

For instance, if you notice that most of your clients are requesting group coaching sessions instead of one-on-one sessions, it might be an indication that it’s time to update your offering.

Ultimately, having a well-thought-out business plan along with an ongoing process for updating and revising it will help ensure that you are staying ahead of the competition while providing valuable services to those who need them most – which is what being a life coach is all about!

Considering Hiring a Professional Business Plan Writer

If you are not confident in your ability to create a comprehensive and effective business plan for your life coaching business, it might be worth considering hiring a professional business plan writer. Here are some reasons why:

  • A professional business plan writer has the expertise to create a customized and well-structured plan that addresses all the key components necessary for success.
  • They have experience in conducting market research, analyzing competition, and identifying unique selling points that can make your coaching practice stand out.
  • A professional writer can help you articulate your vision and goals in a concise and compelling manner that is easy for investors and stakeholders to understand.
  • They can also ensure that your financial projections are realistic and based on accurate data, which is essential for securing funding or attracting investors.
  • Hiring a business plan writer frees up time for you to focus on other important aspects of building your coaching practice, such as marketing, networking, or working with clients.

Remember that hiring a professional writer is an investment in the future success of your life coaching business. While there will be costs associated with this option, having a solid business plan can give you the confidence and direction you need to achieve your goals and build a thriving coaching practice.

Life Coaching Business Plan Template

Sometimes it helps you as you build your business plan to have a template you can look it. With it you can easily create your coaching plan and start to market your business. Please refer to the video below for additional details on achieving this:

YouTube video player

In conclusion, creating a solid business plan is crucial to building a successful life coaching business. It provides you with the direction and structure necessary for achieving your goals, connecting with your target audience, and growing your practice sustainably.

By incorporating essential components such as executive summaries, service offerings, financial analyses, and marketing strategies into your plan, you’ll set yourself up for success from the very beginning.

Don’t underestimate the power of a well-crafted business plan – it can be instrumental in helping you achieve both personal fulfillment and financial freedom by inspiring others to live their best lives. Go ahead and get started on that comprehensive life coach business plan today!

FAQs – Life Coach Business Plan

Why is it important to have a business plan for my life coaching business.

A business plan helps you define your goals, target market, marketing strategy, financial projections, and overall vision for your coaching practice. It serves as a guide to help you make informed decisions about investments and expenses while keeping track of progress toward achieving your objectives.

What are the key elements of a successful life coaching business plan?

The main components of a good business plan for your life coaching practice include defining your niche in terms of specific demographics or topics, outlining a marketing strategy that targets clients effectively through online platforms or other channels, and developing measurable goals and objectives related to revenue growth over time.

How do I conduct market research when writing my life coaching business plan?

Market research involves studying the competition within this industry by researching their services offerings, prices charged & analyzing consumer behavior regarding preferences between various service providers.

This information can be gathered from customer feedback surveys or focus groups which allow businesses access to valuable data points otherwise unavailable during the initial stages of product/service development planning activities.

What role does financial forecasting play in creating a solid life coach business plan?

Financial forecasting allows entrepreneurs to anticipate future profits based on present assets by looking at previous performance history (i.e. sales & costs).

By assessing expected cash inflows/outflows alongside anticipated seasonal changes impacting revenues/expenses, entrepreneurs could identify potential gaps/risks early enough to implement necessary corrective measures before they become chronic issues that potentially harm profitability outcomes long term.

What do you think?

Written by michael allsworth.

create a life coaching business plan

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Life Coach Business Plan Template

Are you thinking of starting your own life coaching business? Use Carepatron’s life coach business plan template to start turning your dreams into a reality.

Alex King

‍ What is a life coach business plan?

Life coaches help their clients to succeed with their personal goals through coaching, support, and creating action plans. Life coaching can be an alternative to traditional therapy or counseling, which typically focuses more on mental health issues rather than practical coaching. Life coach plans aim to achieve life goals for those who do not feel they need additional mental health support. As you don’t need a specific degree or qualification to become a , many people change their careers to take on life coach responsibilities in order to help others.

This free life coaching business plan will help you kick off your life coaching business to a great start. Starting a business is a huge life decision, so if you have made it this far, congratulations! It’s time to turn those dreams into reality by making a practical and comprehensive business plan for your life coaching business. This plan is designed to help you get your ideas onto paper and provide a solid starting point for your business. You may have been dreaming about your marketing strategy or sales pitch for months now, but you may not have considered other important aspects yet. This template is designed to help you organize your ideas into a robust overview of how your life coaching business will fit into the existing market.

Printable Life Coach Business Plan Template

Check out these business plan templates for life coaches to improve the growth of your practice and streamline your operations.

How To Use This Life Coach Business Plan 

It can be intimidating to start on your first business plan, so we have made our template super simple and customizable to use. Just follow these steps to use our life coach business plan template.

1. Download the PDF

The first step is to download the free PDF life coaching business plan template. You can either fill this PDF in digitally using the interactive text boxes, or you can print it out and fill it in by hand if you prefer.

2. Executive Summary

The first section of our life coaching business plan template is the executive summary. This is the overview of some of the key parts of your business including your mission statement, life coaching packages offered, team members and key roles in your business, and the type of company your life coaching business will be.

3. Competition and Customer Analysis

This section is an important one for differentiating your business from the competition. In this section, you will compile an overview of the market you will be entering, an analysis of your competitors, unique selling points for your business, and establish the target demographic for your life coaching business.

4. Marketing and Finance Plan

This section is for the practical side of things. How will you market your services? Once you have an interested potential client, what will be your sales strategy? How much will you charge for your services? What is your start-up budget, and what expenses will you have? 

5. Management and Growth Plan

Finally, your business is bound to change as you grow, and nobody can predict the future. However, having a plan in mind for how your business will remain sustainable and develop as it grows is a great idea to include in your business plan. This section also includes the milestones you plan to reach to measure your progress, this could be measured in the number of clients you see, engagements with your marketing, or your client’s satisfaction with their life coaching.

Life Coach Business Plan Template Example (sample)

Some of the headings in this business plan template might be unfamiliar to you, so to help you understand this life coach business plan template, we have provided an example life coach business plan. This example is a completed version of the template designed to illustrate what this template could look like once all filled in.

Take a look at our sample business plan template:

Life Coach Business Plan Template Example (sample)

Who Can Use This Life Coach Business Plan Template?

This life coach business plan template is designed for people looking to start their life coaching business, but it could also be used for established life coaches looking to refresh their business model. This is in addition to other prospective coaching professionals such as business coaches, sales coaches, health and wellness coaches, personal coaches, or relationship coaches. 

Whether you have been planning your business for a long time but have never taken the first step of developing a business plan, or if you have only just heard of life coaching and immediately realized it was for you- this business plan template can help you get off to a great start.

Why Is This Template Useful For Life Coaches?

Analyze your competition.

To understand where your business fits in the life coaching market , it’s important to understand the other businesses operating and the services they offer. Use our life coaching business plan template to assess your competition and figure out what you can offer.

Differentiate your business

Once you have an understanding of your competition, you can start working on differentiating your business to ensure it stands out. This template is designed to help you do this through the unique selling point, target demographic, and marketing strategy sections.

Realize your marketing strategy

Maybe you’ve been brainstorming marketing content already, or maybe you’ve never heard of Facebook ads! Either way, our business plan template can help you actualize your marketing plan.

Life coaching software

Benefits of Using the Life Coach Business Template 

Using this life coaching business plan template will help you get your ideas onto paper and take the first concrete step to start your life coaching business. The benefits of using this comprehensive life coach business plan template include:

Know your target demographic

The first benefit of completing our life coaching business plan template is understanding your target demographic. Knowing who you are marketing to is a huge part of your business that will inform all your future marketing and advertising decisions. 

Reflect on your progress

You may be at the beginning of your journey now, but a few years down the line you will want to pause and reflect on how far you’ve come. Setting out your plans and intentions in this business plan template will give your future self a solid reference point for how you have progressed toward your goals.

Maintain your business focus

Writing something down means you can constantly refer back to it and stay on track. By collating your plans in our business plan template, you can ensure you are keeping sight of your goals as you go forward. 

Stay organized

Our life coaching business plan template has already set out different sections and headings, all formatted for you. All you need to do is provide the content and you will have a well-organized and readable business plan.

Solidify your intentions

When you write down a business plan, it helps you to prioritize what is really important to your business. Solidify your intentions for your life coaching business with practical sections such as competitor analysis, mission statement, and marketing strategy.

Why Use Carepatron for Life Coaches?

Carepatron is a state-of-the-art practice management software packed with features to take your life-coaching business to the next level. Carepatron is designed to save you time on administrative and management tasks, so you can get back to coaching your clients. Here are just a few things you can do in Carepatron to set your life coaching business apart from the competition:

  • Sick of no-shows? Automate SMS or email appointment reminders for your life coaching clients in Carepatron and ensure your clients remember their appointments.
  • Digitally manage your life coaching clients using Carepatron’s customizable tags system, and monitor the progress of your clients.
  • Offer your clients access to their own Carepatron client portal on mobile or desktop.
  • Take progress notes for your clients and store them securely with Carepatron’s HIPAA-compliant data storage.

You’ll find this PDF life coaching business plan template and many more in Carepatron’s community template library packed with time-saving digital templates.

Life coaching software

Commonly asked questions

Life coaching and therapy have often been confused as both methods can help people with similar problems. One of the biggest differences is that therapists are licensed mental health professionals, whereas life coaches focus on helping their clients achieve goals and take positive actions rather than treatment of mental health issues.

That’s okay, we all have to start somewhere! If this is the case for you, you can leave the management team and key roles sections blank. Alternatively, you could establish several roles to fill in the future once you expand as part of your growth plan.

A mission statement will look different for every life coaching business, and there is no one formula for writing your mission statement. The mission statement should capture the identity of your business, as well as address how your business will solve problems for your clients in a way that differentiates you from your competition.

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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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  • 7. Beef up your coaching business plan with an appendix 

How to Find the Coaching Niche That Gives You Joy and Attracts the Right Clients

How Much Does It Cost to Become a Life Coach? Is It Worth It?

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Life Coach Business Plan Template

Life coach business plan.

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

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

Life Coaching Business Plan Sample

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

Executive Summary

Business overview.

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

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

Product Offering

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

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

Customer Focus

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

Management Team

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

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

Success Factors

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

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

Financial Highlights

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

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

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

ADD IMAGE HERE

Company Overview

Who is desert sun life coaching company.

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

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

Desert Sun Life Coaching Company History

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

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

Desert Sun Life Coaching Company Services

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

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

Industry Analysis

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

Customer Analysis

Demographic profile of target market.

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

The precise demographics for Desert Sun Life Coaching Company are:

Customer Segmentation

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

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

Competitive Analysis

Direct and indirect competitors.

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

New Horizons Counseling Center

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

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

Crystal Blue Life Coaching

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

Ocotillo Family Counseling

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

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

Competitive Advantage

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

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

Marketing Plan

Brand & value proposition.

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

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

Promotions Strategy

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

Word of Mouth/Referrals

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

Professional Associations and Networking

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

Partnerships with Local Businesses

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

Social Media Marketing

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

Website/SEO Marketing

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

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

Operations Plan

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

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

Milestones:

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

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

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

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

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

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

Financial Plan

Key revenue & costs.

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

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

Funding Requirements and Use of Funds

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

Key Assumptions

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

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

Financial Projections

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

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

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

What are the Main Types of Life Coach Businesses?

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

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

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

What are the Steps To Start a Life Coaching Business?

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

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

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

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

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

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

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

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

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

Coaching Business Plan

Quick and Easy Business Plan For Life, Executive, Health, and Business Coaches

  • Developing a Christian Life Coach Business Plan

Christian Life Coach Business Plan, Life Coaching Business

Building Your Christian Life Coach Business Plan: A Faithful Roadmap to Success

Embarking on the journey of establishing a Christian life coaching business rooted in your faith and dedication to empowering others requires a well-structured plan. To help you get started, here are the essential steps:

  • Embrace Your Calling

One of the first steps in developing your Christian life coach business plan is to discover your niche. Your niche is the specific area or audience you will focus on in your coaching practice. This could be anything from career guidance, marriage counseling, spiritual growth, or personal development. It’s essential to choose a niche that aligns with your skills, experiences, and, most importantly, your Christian values.

  • Equip Yourself for Success

To become a reputable Christian life coach, consider investing in proper education and certification. Many organizations offer Christian life coach training programs that provide both the necessary skills and a strong spiritual foundation. Earning certification will not only boost your credibility but also reassure clients that you’re qualified to guide them on their journeys.

  • Craft Your Mission Statement

A compelling mission statement is the heart of Christian life coach business plans. It should reflect your values, beliefs, and the unique approach you bring to coaching. Your mission statement should resonate with potential clients who share your faith and values, making them more likely to choose you as their coach.

  • Create a Faith-Based Image

Your brand is how you present yourself to the world. For a Christian life coach, it’s crucial to create a brand that communicates your faith-based approach. This includes your business name, logo, website, and any marketing materials. A cohesive and faith-inspired brand will attract clients who are seeking guidance from a Christian perspective.

  • Value Your Services

Pricing your coaching services can be challenging. It’s essential to strike a balance between affordability and the value you provide. Consider researching industry standards and the prices of other Christian life coaches. Remember that your services are an investment in your clients’ personal and spiritual growth, and pricing should reflect that.

  • Reach Your Audience

Marketing is a crucial aspect of developing your Christian life coach business. Start by creating an online presence through a professional website and social media profiles. Join Christian networking groups and forums where potential clients might be seeking guidance. Offer free webinars or workshops to showcase your expertise and connect with your target audience.

  • Connect with Others in the Faith Community

Building relationships within your faith community is invaluable. Attend church events, workshops, and conferences related to personal development and spirituality. These connections can lead to referrals and partnerships that help grow your coaching business.

  • Coach with a Christ-Centered Approach

When working with clients, maintain a Christ-centered approach. Integrate prayer, Scripture, and faith-based principles into your coaching sessions as appropriate. Create a safe and supportive environment where clients feel comfortable sharing their struggles and goals.

  • Continuous Self-Improvement

To excel in your Christian life coach business, commit to continuous self-improvement. Attend workshops, seminars, and training programs to stay updated on coaching techniques and Christian counseling practices. The more you invest in your own growth, the better you can guide your clients.

  • Measure Success

Lastly, establish metrics to track your business’s success. Monitor the number of clients served, client testimonials, and revenue growth. Regularly assess your business plan and make adjustments as needed to ensure your Christian life coach business thrives.

Developing a Christian life coach business is a fulfilling journey that allows you to help others while staying true to your faith. By following these steps, you can create a business plan that not only reflects your values but also positions you for success in the coaching industry. Remember, your journey as a Christian life coach is not just a business; it’s a calling to make a positive impact on the lives of others.

Special Bonus – Learn 32 ‘Guru’ Transformation Techniques when you click on the image at the top right . You’ll learn how to become a life coach in 30 days.

Jeannie Cotter Editor/Writer Writer, Coaches Training Blog community

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

    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.

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

    Creating a life coaching business plan might sound terrifying, don't be put off. You can go into more detail if you prefer a comprehensive organizational roadmap, but your business plan should quite simply help you: Clarify your "Why" - What is the ultimate purpose of your business? What is your desired future vision for your practice and clients?

  3. Coaching Business Plan Template [Updated 2024]

    M&A STRATEGIC PLANNING Business Analytics Business Plan Consulting Healthcare Advisory Impact Advisory Products & Programs Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their coaching companies.

  4. 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.

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

    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.

  6. Choosing The Right Life Coaching Business Model + Templates

    Crafting Your Life Coaching Business Model So what does each element represent in real life? Your life coaching business model is simply the rationale of how your practice creates, delivers, and captures value. Here's what each element represents. Value Proposition

  7. 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 ...

  8. 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 ...

  9. Create an Amazing Life-Coaching Business Plan

    November 21, 2022 • 4 min Create an Amazing Life-Coaching Business Plan Learn how to make a life-coaching business plan and open up shop. Find out what other companies in the industry are doing. We all understand the importance of having a plan.

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

    CHAPTER 1 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. Imagine this...

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

    September 20, 2022 READ COMMENTS "You should not ever start a Monday without clarity about what must happen by Friday." ~ Brendon Burchard, High-Performance Coach Benjamin Franklin said it in more direct terms: "If you fail to plan, you're planning to fail."

  12. 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 ...

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

    To draft your own simple life coaching business plan, we recommend the following key sections: Mission & Vision Target Market & Audience Services & Pricing Marketing & Sales Financial Goals & Planning Once again, no need to over engineer it. Copy the above sections into your own document and start typing away.

  14. How to Start a Life Coaching Business

    Start a life coaching business by following these 10 steps: Plan your Life Coaching Business Form your Life Coaching Business into a Legal Entity Register your Life Coaching Business for Taxes Open a Business Bank Account & Credit Card Set up Accounting for your Life Coaching Business

  15. 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 ...

  16. Free Life Coaching Business Plan Example

    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 ...

  17. 9 Steps To A Lean Life Coach Business Plan (2023)

    Target market 9 6. Unique selling point 10 7. Marketing 11 8. Competition 12 9. Finances 13 How Do You Start A Life Coaching Business? 14 How Do You Get Clients As A Life Coach? 15 What Qualifications Do You Need To Be A Life Coach? 16 How Much Money Will You Earn As A Life Coach? 17 Lean Life Coach Business Plan Template

  18. Steps to Create a Killer Life Coaching Business Plan Template

    The business plan for your coaching business is the blueprint, the map, or the growth plan for your life coaching services. This essential document will not only help establish clear business goals and strategies but also attract potential coaching clients and partners who share your vision.

  19. Life Coach Business Plan Template

    Just follow these steps to use our life coach business plan template. 1. Download the PDF. The first step is to download the free PDF life coaching business plan template. You can either fill this PDF in digitally using the interactive text boxes, or you can print it out and fill it in by hand if you prefer. 2.

  20. 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.

  21. Life Coach Business Plan Template (2024)

    to your computer here <- 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.

  22. How to Create a Simple Life Coaching Business Plan (2023)

    How to Create a Simple Life Coaching Business Plan (2023) By Luisa Zhou Coaching Business, Life Coaching Updated: April 24, 2023 Want to know how to write a simple coaching business plan? You've come to the right place. Today, you'll learn how to create a coaching business plan that will help you get clarity fast. Here's what you need to know!

  23. Developing a Christian Life Coach Business Plan

    One of the first steps in developing your Christian life coach business plan is to discover your niche. Your niche is the specific area or audience you will focus on in your coaching practice. This could be anything from career guidance, marriage counseling, spiritual growth, or personal development. It's essential to choose a niche that ...