sample life coaching business plan

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How To Write A Life Coaching Business Plan: 5 Templates

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

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

5 Tips For Starting Your Life Coaching Business

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

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

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

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

How To Write A Coaching Business Plan: 2 Examples

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

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

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

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

The following two coaching business plan examples illustrate this.

Example 1: Lean Life Coaching Business Plan

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

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

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

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

Example 2: Life Coaching Business Plan Template

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

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

3 Helpful Templates and Samples For Your Plan

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

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

Creating A Business Plan For Your Online Coaching Business

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

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

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

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

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

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

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

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

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

Best App and Software For Your Coaching Business

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

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

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

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

5 Unique Features Included in Quenza

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

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

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

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

Leveraging Technology for Efficient Client Management

Integrating technology into your life coaching practice can significantly streamline client management and enhance your service delivery. Utilizing software and applications designed for coaching professionals saves time and ensures a more organized approach to managing client data and scheduling.

For example, client management software lets you keep detailed records of each client’s progress, preferences, and session notes. This can help you tailor your sessions more effectively and provide personalized coaching that meets the unique needs of each client. Having all this information in one place allows you to track progress and adjust your coaching strategies as needed easily.

Additionally, automated scheduling tools can eliminate the back-and-forth communication often required to set up appointments. These tools allow clients to book sessions at their convenience, reducing the administrative burden on you and ensuring that your calendar is always up to date. This improves efficiency and enhances the client experience by providing a seamless and professional service.

Finally, consider incorporating video conferencing software into your practice. This allows you to conduct coaching sessions remotely, expanding your reach to clients who cannot meet in person. Video sessions can be just as effective as face-to-face meetings, and the convenience of remote coaching can be a major selling point for potential clients.

Building a Strong Online Presence

In today’s digital age, having a strong online presence is crucial for attracting new clients and establishing credibility as a life coach. A well-designed website serves as your virtual storefront, providing potential clients with information about your services, testimonials, and an easy way to contact you.

Your website should clearly communicate your unique value proposition and showcase the results you have achieved for your clients. Include case studies or success stories that highlight the impact of your coaching. This builds trust and demonstrates your expertise and effectiveness as a coach.

Social media platforms are also powerful tools for connecting with potential clients and building your brand. Regularly sharing valuable content related to life coaching, such as tips, articles, and motivational quotes, can position you as a thought leader in your field. Engage with your audience by responding to comments and messages, and consider running targeted ad campaigns to reach a wider audience.

Additionally, consider creating a blog to share your insights and experiences as a life coach. Blogging helps improve your website’s SEO and provides valuable content that can attract and engage potential clients. Write about topics that resonate with your target audience, and promote your blog posts through your social media channels.

By leveraging these digital tools and strategies, you can build a strong online presence that attracts new clients and reinforces your credibility as a life coach.

Final Thoughts

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

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

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

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

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

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How to Start Your Life Coaching Business Plan & Template

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

But don’t give in. Help is at hand.

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

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

This Article Contains

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

• 10+ Software & Forms to Use in Your Practice

A Take-Home Message

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

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

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

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

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

Begin at the beginning!

We start by recognizing our barriers.

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

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

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

Accept fear as part of your journey.

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

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

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

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

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

To build confidence, you have to practice confidence.

If we don’t start, we will never know

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

Who is our dream client?

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

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

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

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

What is the best platform for a life coaching business?

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

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

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

Do you need a business license?

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

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

3 Best life coaching certification programs

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

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

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

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

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

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

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

Let’s apply the business template to an example scenario. In this scenario, we want to start a life coaching business that will target people who feel stuck in their career or their life (or both). To help us, we’ll answer a set of questions/prompts using the business template.

1. Business identity

What is the business called? In this example scenario, we will call our business “Clarity Life Coaching.”

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. Expenses

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

9. 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.

10. Milestones

Initial thoughts on milestones include:

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

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

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

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

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

Your coaching website should be like a funnel

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

Productive conversations

Productive conversations and creating relationships lead to new clients.

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

Online writing

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

• Aim for quality over quantity – you are targeting the right kind of traffic.
• Change your mindset from “How do I find more clients?” to “How do my dream clients find me?”
• Know what people are looking for and create resources on that topic.
• Earned reach is the organic attention that you receive. Perhaps you got a mention in a podcast or on a news website. Paid reach on social media and search engines has a cost. Examples of these would be 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.

World’s Largest Positive Psychology Resource

The Positive Psychology Toolkit© is a groundbreaking practitioner resource containing over 500 science-based exercises , activities, interventions, questionnaires, and assessments created by experts using the latest positive psychology research.

Updated monthly. 100% Science-based.

“The best positive psychology resource out there!” — Emiliya Zhivotovskaya , Flourishing Center CEO

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

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

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

10+ Software & Forms to Use in Your Practice

There are several online platforms for coaching.

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

O ur 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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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 Word, Apple Pages or as a PDF.

Table of Contents

How to Use This Life Coach Business Plan to Get Clients

Each section this sample life coach business plan contains two parts:

• Coaching Business Plan Template – This includes details on what to put into each section of your business plan.
• Sample Coaching Business Plan Text – This part provides actual text from a real coaching business plan example that you can modify (or leave as is) for your plan.

Since most coaching businesses are started by individuals working as sole practitioners, I’ll focus on one-person businesses in this sample life coaching business plan. You can easily modify this plan if you have partners or are part of a management team. Just replace “I” with “we” and other plural forms.

I’ve also included an overview of financial projections in this coaching business plan example to help you chart a path to starting a coaching business.

Watch the Free Coaching Business Plan Webinar

The hardest part of starting a coaching business is getting clients.

The free life coach marketing plan that I created as part of this sample coaching business plan shows you the fastest path to building your brand identity and awareness to get clients. It includes SEO for Life Coaches and a List of Life Coaching Keywords. I strongly recommend reading that or listening to the audio version (it’s all free):

Sample Life Coach Business Plan

Let’s start with the sections that make up your life coaching business plan. I include sample text below the description of what to focus on within the section.

The first in your business plan introduction to frame your coaching practice.

1. Coaching Business Plan Executive Summary

Additionally, the executive summary should highlight your key differentiators and explain why your coaching business will be successful.

Most Executive Summaries are at most one or two pages. As a sole practitioner for a life coaching business, your summary can be as brief as a few paragraphs.

Sample Life Coach Business Plan Executive Summary

As a life coach, I am excited to offer my coaching services to help people reach their personal and professional goals. My coaching business plan includes a variety of services that are tailored to each client’s individual needs.

I offer one-on-one coaching, group coaching, and corporate coaching services. I also provide coaching resources, such as books, audio programs, and online courses.

My coaching business is based on the belief that everyone has the potential to achieve their dreams. I am committed to helping my clients reach their full potential through my life coaching services.

Coaching is a very personalized business. Clients need to have a strong rapport with their life coach in order to realize their goals. They also need to trust their coach. To build and maintain that trust, I will build my brand identity and create awareness of my coaching services using content marketing.

This includes SEO keyword research to identify the ideal keyword terms that my target market searches for. I will optimize my local SEO presence on Google and use these keywords as the foundation to launch a social media campaign.

Since I am a sole practitioner, using outside resources will allow me to make the best use of my time. I will take advantage of pre-written content designed for coaches, which I can tweak to include my personal notes and experiences.

Doing so will enable me to go to market faster and maintain my online presence without sacrificing the time I need to provide actual life coaching services to my clients.

2. Coaching Business Plan Company Description

This section can also include information on the history of your coaching business and any significant milestones that you have reached.

It is okay to repeat a little bit of what you included in your executive summary in this section. Here you’ll have the opportunity to describe your company in greater detail.

Sample Life Coach Company Description

Life Coaching is a process that helps people identify and achieve their personal and professional goals. As a life coach, I help my clients get clear on what they want to achieve and create a plan to make it happen.

I specialize in working with entrepreneurs, business professionals, and business students who are seeking clarity and direction in their lives to achieve professional satisfaction. My coaching services are tailored to each client’s individual needs and include one-on-one coaching, group coaching, and corporate coaching.

My life coaching business is based on the belief that everyone has the potential to achieve their dreams. The key to my success is my ability to ask poignant questions that elicit deep thinking in my clients’ minds. I want them to see what life can be like out of their comfort zone while being in a safe space with our conversations.

By using before/after scenarios as one of my techniques, I can help clients remove self-inflicted limits they impose on themselves. Most of the time, it is these limitations that prevent individuals from growing and creating meaningful experiences that result in greater happiness.

3. Life Coach Business Plan Services Offered

The Services Offered section of your life coach business plan should provide an overview of the coaching services that you offer. This can include information on the types of coaching services you offer, such as one-on-one coaching, group coaching, or corporate coaching.

You should also include information on the format of your coaching services, such as in-person sessions, phone calls, video calls, or online courses. In this section, you’ll have the opportunity to describe your coaching services in greater detail and explain how they will benefit your clients.

Sample Life Coaching Services Offered

I offer a variety of life coaching services that are tailored to each client’s individual needs. My coaching services include one-on-one coaching, group coaching, and corporate coaching. I also provide coaching resources, such as books, audio programs, and online courses.

My one-on-one life coaching services are designed to help my clients achieve their personal and professional goals. We will work together to identify your goals and create a plan to make them happen. My goal is to help you gain clarity and confidence so that you can live the life you want.

My group life coaching services are designed for people who want to achieve their goals with the support of others. Group life coaching is a great way to get accountability and feedback from others who are striving to reach their goals. My group life coaching programs are available both in-person and online.

My corporate life coaching services are designed to help businesses achieve their goals. I offer a variety of corporate life coaching services, such as team building, goal setting, and conflict resolution. I also provide life coaching resources, such as books, audio programs, and online courses, to help businesses reach their full potential.

For those clients who prefer a self-paced approach, I provide coaching resources, such as books, audio programs, and online courses. These serve as stepping stones to acquire one-on-one or group coaching customers.

4. Coaching Business Plan Target Market

It is important to focus on a niche rather than offering generic services.

Life coaching as an industry is booming so prospects may not be able to determine who is the best life coach for them. When you focus, your marketing efforts can be customized to the niche you specialize in.

Think of it this way: if you were to build a patio for your house, would you hire a general contractor or a patio specialist? A general contractor remodels kitchens and bathrooms and will likely not be as familiar with the latest trends on patios. A patio specialist, however, will be versed in the best materials, designs and considerations for patios.

You would pick the patio specialist no doubt.

Similarly, your life coaching business plan should focus on a specific target group so that you become known as a specialist for your niche.

Sample Life Coaching Target Market

Given my strong background in corporate and executive leadership, I specialize in working with entrepreneurs, business professionals, and business students who are seeking clarity and direction in their lives.

The career paths of my clients typically hold a special place as part of their holistic identity. I focus on helping them see a vision of themselves that feels true and help them break limiting habits and beliefs. My goal is to assist clients in creating unbounded opportunities and new habits that foster growth.

My life coaching services are designed to help my clients achieve their professional goals and gain fulfillment in their personal lives.

5. Coaching Business Plan Pricing Strategy

The Pricing Strategy section of your life coach business plan should provide an overview of how you will price your life coaching services. This can include information on the rates you charge for your services, as well as any discounts or packages you offer. You should also include information on how you determine your pricing, such as by the hour, by the session, or by the project.

Sample Life Coaching Pricing Strategy

I charge $150 per hour for my life coaching services with a 2 hours per month commitment for a minimum of 3 months.

They also provide prospects with an opportunity to experience what it could be like working directly with me without making a larger financial commitment. My online courses are priced at $297 and $497, respectively, for a 3-month or 6-month self-paced course.

I offer group coaching at the rate of $200 per month per individual. This includes a two-hour session each month in a group of no more than 8 people. I also maintain the same 3-month commitment.

This way, group members can hold each other accountable for commitments they make in prior monthly meetings. This added bond increases the likelihood that new clients will become long term clients.

For corporate clients, I charge $2000 per month per group of up to 6 members. This allows an organization to experience group coaching tailored to improving employee productivity and satisfaction. This is the fastest growing segment of my coaching business because employers are struggling to retain top performing employees due to “The Great Resignation” which is affecting company output.

In a post-COVID world, I offer my life coaching services both in-person as well as virtually. Groups will meet either virtually or in-person for consistency, but not both. For example, an individual may not choose to attend an in-person meeting virtually because that breaks the rapport-building process that is integrated into my group coaching sessions.

6. Life Coach Marketing

Here are 10 marketing ideas to help you get started. Use these as fodder to create your detailed life coach marketing plan, which is the true heart of your business strategy.

Sample Life Coach Marketing Plan

This life coaching marketing plan will not focus on paid advertising, which is a flooded market. Instead, it will leverage the untapped and insatiable market for educational content to help people achieve their personal and professional goals.

The tactics presented below, when done in unison, will generate a steady flow of qualified leads into my lead generation pipeline.

• Develop a website . Aside from my Google Business Profile, my website will be one of the main ways clients learn more about my services. I will use the side not only to share information about my coaching packages, but also – and more importantly – to share my thought leadership content that I create. I will offer a few free guides and checklists to convert website visitors into prospects using a ConvertBox lead capture form.
• Create a social media presence . I will create a Facebook and LinkedIn page for promoting my content (see below) to my target market. As I ramp up in sales, I will explore paid advertising on these platforms, but as the initial effort I will use SEO and content marketing to grow my business.
• Acquire private label rights (PLR) content . I can use this material as a starting point to create social media posts, videos, online courses and articles. I will purchase credits from PLR . This is like having a content marketing writer on staff to produce the material that will propel my name as a coach into the marketplace. This inexpensive way to generate content will make my marketing efforts more efficient because I am a sole practitioner and need to optimize the use of my time.
• Search Engine Optimization . Using the free detailed SEO for Life Coaches guide provided by MoreBusiness.com, I will identify specific keywords related to my niche. This will allow me to quickly tweak the PLR content to create unique content to promote my coaching business. While most other coaches rely heavily on paid advertising on Google and Facebook, I plan to take advantage of the long-tail keyword strategy. This approach targets the numerous “low keyword difficulty” and “high search volume” phrases that my prospects use daily to find coaches like me. This will result in significant cost savings as I ramp up my marketing efforts. I will be able to tap into organic search traffic that continues long after the investment to create it.
• Publish regularly . As part of my branding efforts, I will publish my unique content on my blog and social media channels, including my Facebook page. By sharing my expertise and coaching tips, I will attract potential clients who are interested in my messages. I will use Canva to create attractive designs and schedule social media posts.
• Claim my Google Business Profile . For local SEO, claiming my Google Business Profile will enable me to have a presence that can show up on Google Maps when prospects search for life coaching services. Doing so will display my hours of operation, new blog posts, and send other marketing signals to reach my audience.
• Use online directories . Online directories can help me reach a wide range of prospects. In fact, adding my business to specific directories will dramatically enhance my potential presence on Google Maps when nearby prospects search for life coaching services.
• Speak at events . Getting involved in speaking engagements is a great way to build my reputation and attract new clients. I will reach out to 10 new associations each quarter in order to land a minimum of one speaking engagement that puts me in front of an ideal audience. I will also attend local events to network with business leaders who may be looking for coaching options for their staff.
• Teach workshops and webinars . An offshoot of speaking engagements, hosting my own workshops and webinars will provide an additional way to reach prospects. For my webinars, I will use EasyWebinar to create an automated webinar option that allows prospects to view the webinar on demand. New leads will receive my automated drip email sequence and become part of my email newsletter campaign to stay in touch.
• Create an e-newsletter . To stay in touch and nurture these new leads, I will send helpful tips, articles, and resources in my e-newsletter. This way, my brand will remain top-of-mind even for those prospects who are not yet ready to commit to a coaching program.
• Offer free consultations . An initial free consultation is traditionally a great way to introduce potential clients to my life coaching services. This allows prospects to experience my coaching services and build rapport so they become long-term clients.

The marketing strategy tactics listed in this life coaching business plan may seem like quite a bit for an individual practitioner to tackle. However, most involve an initial investment of time to set up and then run via automations.

Also read our guide How to Get Life Coaching Clients: A 9-Step Complete Guide

By leveraging PLR coaching content published through the lens of long-tail SEO keywords, I will be able to quickly gain exposure to the market I intend to reach. This will build my sales faster than other coaches competing for similar clients.

7. Life Coach Business Plan Financials

Sample Life Coach Financials

In the next 12 months as I ramp up my coaching business, I expect to generate $100,000 in revenue. My expenses will total $20,000, resulting in a profit of $80,000.

Revenue will come from the following sources:

• Online courses: $19,000 – estimated 40 sales at $297 and 15 sales at $497
• eBook sales: $2,000 – estimated 80 sales at $25
• Individual Coaching: $20,000
• Group Coaching: $35,000
• Corporate Coaching: 45,000

As I build my reputation as a life coach, I will add new courses and focus more on corporate and group coaching. These two revenue streams generate a higher profit margin than individual coaching clients.

8. Coaching Business Plan Conclusion

The conclusion of your life coach business plan should summarize the key points of your business plan and explain why you believe your life coaching business will be successful. This can include information on your target market, your unique selling proposition, and your plans for promoting and marketing your life coaching business.

Sample Life Coaching Business Plan Conclusion

I believe my life coaching business will be successful because I am passionate about helping people achieve their goals and have laid out an achievable marketing strategy.

My plan incorporates my strengths and capitalizes on using outside resources, such as private label content and SEO training for myself to increase my footprint quickly. I have a strong understanding of the life coaching market and I am confident in my ability to promote and sell my services. I have realistic financial goals and I am committed to making my life coaching business a success.

Starting Your Life Coaching Business

This comprehensive life coach business plan provides a solid foundation for you to create your own plan. As you know, getting clients for your coaching business will likely be your most challenging startup task.

Use the specific life coach marketing tactics presented here to create awareness and attract qualified prospects. Don’t follow the beaten path: Facebook advertising. Instead, make sure you tap the underutilized strategy of SEO keyword research.

The MoreBusiness.com SEO Coaching program can provide you with the exact steps and research to get your business up and running fast.

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

September 24, 2023

August 6, 2024

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

You’re not alone! 

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

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

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

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

Do You Need a Coaching Business Plan?

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

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

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

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

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

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

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

How To Create Your Coaching Business Plan

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

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

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

1. Crafting Your Executive Summary

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

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

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

2. Business Description

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

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

Choose Your Niche

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

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

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

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

Business Structure

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

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

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

Business Model

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

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

Value Proposition

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

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

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

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

3. Market Analysis

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

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

Identify your Target Market

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

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

Market Need

This section details the specific needs your coaching services address.

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

Understanding these needs allows you to tailor your offerings effectively.

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

Analyze your Competition

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

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

SWOT Analysis

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

Use it to analyze your coaching business:

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

4. Marketing and Sales Strategies

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

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

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

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

Key elements include:

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

Marketing Channels

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

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

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

Sales Strategy

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

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

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

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

5. Operations Plan

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

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

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

Business Location

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

Technology Used

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

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

Staff and Resources

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

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

6. Financial Planning

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

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

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

Startup Costs

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

Pricing Strategy

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

Revenue Projections

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

Break-even Analysis:

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

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

7. Review and Implement

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

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

Reviewing Your Business Plan

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

Implementing Your Business Plan

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

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

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

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

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

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

Resources for your Coaching Business Plan

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

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

Your Custom Template

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

Other resources

Financial planning and management tools.

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

Software and Online Platforms

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

Legal Resources for Small Businesses

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

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

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

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

Frequently Asked Questions (FAQs)

What are the steps of a business plan.

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

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

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

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

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

What Should I Include In A Business Plan?

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

How to Make a Business Plan?

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

How Do You Draft A Coaching Plan?

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

How To Write A Business Plan Step By Step?

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

ABOUT SAI BLACKBYRN

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

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

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

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

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

Keep up the great work!

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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.

By Alex King on Jul 15, 2024.

Fact Checked by Ericka Pingol.

‍What is a Life Coach Business Plan Template?

Life coaches help clients succeed with their personal goals through coaching, support, and creating action plans. Life coaching can be an alternative to traditional therapy or counseling, focusing more on mental health issues than practical coaching.

Life coach plans aim to achieve personal and professional goals for those who do not need additional mental health support. As you don't need a specific degree or qualification to become a life coach, many people change their careers to take on life coach responsibilities to help others.

This free coaching business plan will help you kick your life coaching business off 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 creating 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 a successful life coaching business. You may have been dreaming about your business structure, marketing strategy, or sales pitch for months now, but you may not have considered other important aspects yet in career coaching. This template is designed to help you organize your ideas into a firm overview of how your life coaching practice will fit into the existing market.

Life Coach Business Plan Template Example

How to use this Life Coach Business Plan Template

Business planning can be intimidating, so we have made our template simple and customizable. To use it, follow these steps.

Step 1: Download the PDF

The first step is downloading the free PDF life coaching business plan template via the Carepatron app or by clicking the button on this page. You can either fill this PDF in digitally using the interactive text boxes or print it out and fill it in by hand if you prefer.

Step 2: Write the executive summary

The executive summary is the first section of our life coaching business plan template. It provides an 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.

Step 3: Conduct competitor and customer analysis

This section is part of market research and is essential for differentiating your coaching practice from the competition. In this section, you will compile an overview of the market you will be entering, analyze your competitors and unique selling points for your business, and establish the target market for your life coaching business.

Step 4: Formulate a marketing and financial plan

This section is for the practical side of things. What's your marketing plan? How will you market your services in the coaching industry? What will be your sales strategy once you have a potential client who is interested? How much will you charge for your coaching sessions? What is your start-up budget, and what expenses will you have? 

Step 5: Decide on management and growth plan

Finally, your business is bound to change as you grow, and nobody can predict the future. However, it's a great idea to include a plan for how your business will remain sustainable and develop as it grows in your business plan.

You can include plans for expanding it to an online coaching business where you offer online courses. 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.

Benefits of using the Life Coaching Business Plan Template

Using this coaching business plan will help you get your ideas onto paper and take the first concrete step to start your life coaching business. This template helps you:

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 advertising decisions and marketing efforts. 

Solidify your intentions

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

Stay organized

The template has different sections and headings, all formatted for you. Provide the content, and you will have a well-organized and readable business plan suitable for your individual or group coaching sessions.

Maintain your business focus

Writing something down means you can constantly refer to it and stay on track. By collating your plans, you can ensure you keep sight of your goals as you go forward and reach more target audience or potential clients. 

Reflect on your progress

You may be at the beginning of your journey now, but a few years later, you will want to pause and reflect on how far you've come. Setting out your plans and business goals will give your future self a solid reference point for your progress.

Commonly asked questions

Life coaching and therapy have often been confused as both methods can help people with similar problems. One of the most significant differences is that therapists are licensed mental health professionals. In contrast, life coaches focus on helping their clients achieve goals and take positive actions rather than treating 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 your business's identity and address how your business will solve problems for your clients in a way that differentiates you from your competition.

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Coaching Business Plan Template

Written by Dave Lavinsky

Coaching Business Plan

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

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

Download our Ultimate Business Plan Template here >

What is a Coaching Business Plan?

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

Why You Need a Business Plan for a Coaching Business

If you’re looking to start a coaching business or grow your existing coaching company, you need a business plan. A solid 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

Company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

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 audience.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

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 is your mission statement?
• 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.

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.

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

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

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

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

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

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

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.  

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

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.  

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.  

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.

Sample Life Coaching Business Plan PDF

For a comprehensive resource to guide you through crafting a simple coaching business plan, check out this Sample Life Coaching Business Plan PDF . This document can be adapted for various coaching niches, including life coaching, executive coaching, and wellness coaching. It provides insights into market analysis, financial projections, and operational strategies, making it an invaluable tool for any coach looking to ensure the success of their business.

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

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning consultant can create your business plan for you.

Other Helpful Business Plan Articles & Templates

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

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

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

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

Download the Ultimate Business Plan Template

What is a Life Coaching Business Plan?

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

Why Write a Life Coaching Business Plan?

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

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

Writing an Effective Life Coaching Business Plan

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

Executive Summary

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

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

Company Description

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

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

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

Industry Analysis

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

Questions to answer include:

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

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

Customer Analysis

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

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

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

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

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

Competitive Analysis

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

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

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

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

Marketing Plan

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

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

Operations Plan

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

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

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

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

Management Team

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

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

Financial Plan

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

This includes the following three financial statements:

Income Statement

Your income statement should include:

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

Sample Income Statement for a Startup Life Coaching Business

Balance Sheet

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

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

Sample Balance Sheet for a Startup Life Coaching Business

Cash Flow Statement

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

• Investments

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

Sample Cash Flow Statement for a Startup Life Coaching Business

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

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

Write a Strong Life Coaching Business Plan

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

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

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Life Coaching Business Plan Template Free Sample

Discover how to craft a compelling life coaching business plan template free with this comprehensive guide and template. Set your coaching journey on the path to success.

If you've ever pondered questions like, "How can I distinguish my coaching services from direct competitors?" or "Which marketing channels should I leverage to reach my target audience?", you're in the right place.

A life coach business plan goes beyond traditional business plans. It's a comprehensive roadmap, encapsulating everything from an executive summary of your value proposition to an in-depth market analysis derived from meticulous market research.

This plan defines clear goals for your coaching sessions, whether they cater to personal growth enthusiasts, corporate executives, or personal trainers. It's not just about numbers, although financial statements, balance sheets, income statements, and cash flow statements are crucial for financial planning or securing bank loans.

It's about understanding your potential clients and tailoring your marketing strategy to their needs, ensuring that every move, from social media marketing on popular platforms to group programs, resonates with your ideal clients.

Diving deep into a SWOT analysis, competitor analysis, and competitive analysis allows life coaches to carve a unique space even in a saturated coaching industry. Whether you're drafting a simple coaching business plan or aiming for a more comprehensive approach, the following sections of this article will provide a template, essential steps, and key elements to ensure you're on the right track for a successful coaching business.

So, gear up as we navigate the intricacies of crafting a plan that merges personal life goals with professional aspirations, ensuring the best results for both business owners and their clients. Let's embark on this crucial step towards building a successful life coach business.

Understanding The Life Coaching Industry

Diving into the life coaching industry requires more than just the ambition to be a great coach. It requires a solid business plan that gives a comprehensive overview of your business model, from your mission statement to your sales strategy.

In the United States, this industry has witnessed significant growth, driven by the realization of personal and professional goals by individuals seeking life coaching services.

The first step in crafting your life coach business plan template involves understanding your target market. Ask yourself the following questions: Who are your potential customers? What personal life challenges are they facing, and how can you offer solutions?

This detailed plan will guide your marketing strategies, helping you leverage the right social media platforms and create effective marketing materials.

Your business goals should reflect both your personal goals and your professional aspirations. Whether you're aiming for a simple business plan or crafting a more comprehensive business plan, it's essential to forecast your financial projections.

This includes creating a balance sheet and assessing financial goals and forecasts.  Google Docs  and  Canva  templates can be valuable tools in this endeavor, offering both free and Canva pro images to enhance your document's aesthetics.

Executive Coaching Proposal Template To Land More Clients

Establishing a competitive advantage is paramount, ensuring that your action plan aligns with the industry's needs and your target customers' desires.

Finally, remember that understanding the life coaching industry isn't just about financial goals. It's about creating a business that resonates with your potential customers, ensuring your services make a genuine difference in their personal and professional lives.

As you venture on this journey, keep in mind that a comprehensive and detailed business plan is your roadmap to success.

Benefits of a Life Coaching Business Plan

Embarking on a life coaching journey without a structured business plan is akin to sailing without a compass. The benefits of having a well-laid-out life coaching business plan are manifold.

Firstly, a robust marketing plan ensures you're not shooting in the dark.

It provides clarity on how to promote your services, allowing you to reach and resonate with your target audience effectively. This plan is a strategic roadmap, guiding you to understand where to allocate resources and how to maneuver in the ever-evolving coaching market.

Having a clear management team structure within your business plan outlines responsibilities and highlights the roles of key players. This ensures that every team member knows their role, driving efficiency and promoting smooth operations.

Financial forecasts, a core component of your business plan, arm you with predictive insights. This is crucial for both short-term and long-term sustainability. By anticipating revenues and understanding potential expenses, you can make informed decisions and avoid pitfalls.

A well-structured business plan, even if it's a single page life overview, provides a snapshot of your entire operation. It's an easily digestible document that stakeholders or potential investors can quickly understand, enhancing transparency and trust.

How Much Is A Life Coach? Cost, Fees, and Prices.

The notion of a "free life" resonates with many.

By laying out a clear plan, life coaches can attain this freedom. It allows them to work efficiently, ensuring they have time for both their professional endeavors and personal pursuits.

Lastly, crafting your own business plan, tailored to your unique vision and objectives, ensures authenticity. It’s not a one-size-fits-all approach but a reflection of your personal brand, ethos, and the value you wish to bring to your clients.

In essence, a life coaching business plan isn't just a document; it's the backbone of your enterprise, underpinning every decision and propelling you toward success.

Key Components of a Life Coaching Business Plan

Crafting a successful life coaching business plan requires meticulous attention to specific foundational elements. These components not only give your plan structure but also ensure it’s comprehensive and effective.

Executive Summary

This is a snapshot of your business, presenting an overview. It should briefly outline your business's mission, vision, and primary objectives.

Business Description

Delve into what your coaching business is all about. Describe the services you offer, your specialization, and what sets you apart in the coaching industry.

Market Analysis

Understand your target market. Who are your ideal clients? What are their needs? This section should present thorough research on market trends, demands, and potential gaps you aim to fill.

Competitive Analysis

Identify your direct competitors. Analyze their strengths, weaknesses, and market positioning to determine where you fit and how you can differentiate yourself.

Marketing and Sales Strategy

How will you attract and retain clients? Detail your promotional strategies, sales tactics, and the channels you’ll employ, from social media to workshops.

Service Offerings

Clearly list out the coaching services you will provide. Will you focus on one-on-one sessions, group programs, online courses, or a mix?

Financial Projections

Forecast your income, expenses, and profitability. This should cover your expected revenues, potential costs, and the break-even point.

Operational Plan

Define the daily operations of your coaching business. This includes your office space, any tools or software you might use, and how you'll manage client appointments.

Management and Organization

Describe the structure of your business. If you have a team, outline roles and responsibilities. Even if you're a solo coach, define your role and potential future hires.

Pricing Strategy

Decide on how you’ll price your services. Consider your target market, value provided, and industry standards.

Action Plan

Break down the steps you'll take in the initial weeks and months. This actionable roadmap should cover your immediate objectives and the tasks to achieve them.

Appendices (Optional)

This section can include any supplementary information, such as client testimonials, certifications, or further research that doesn't fit neatly into other sections but still adds value to your plan.

When you compile these components cohesively, you're crafting not just a document but a clear vision and strategy for your life coaching business's success. This blueprint serves as a guide, ensuring you remain on track and aligned with your professional goals.

Life Coaching Business Plan Template

1. Executive Summary

• Business Name:  [Your Business Name]
• Mission Statement:  [Your Mission Statement]
• Business Goals:  [Short and Long-Term Goals]

2. Business Overview

• Description of Your Coaching Services:  [Types of Coaching Services Offered]
• Target Market:  [Who are your ideal clients?]
• Legal Structure:  [Sole proprietor, LLC, etc.]

3. Market Analysis

• Industry Overview:  [Trends in Life Coaching]
• Target Market Segment:  [Specific client demographics, psychographics]
• Competitor Analysis:  [Who are your direct/indirect competitors? What are their strengths and weaknesses?]

4. Marketing and Sales Strategy

• Marketing Channels:  [Social Media, Workshops, Webinars, etc.]
• Promotion Strategies:  [Discounts, Packages, Referral Programs]
• Sales Process:  [From initial contact to closing a coaching session]

5. Services and Pricing

• Description of Services:  [Detailed list of offerings]
• Pricing Strategy:  [How much will you charge and why? Any packages or tiered pricing?]

6. Operational Plan

• Location:  [Office space, home-based, virtual?]
• Resources Needed:  [Software, Tools, Materials]
• Daily Operations:  [Day-to-day tasks and activities]

7. Management and Organization

• Your Role:  [Owner, primary coach, etc.]
• Team Members:  [If any - their roles and responsibilities]
• Hiring Plans:  [Any plans for future hires?]

8. Financial Plan

• Startup Costs:  [Initial expenses before you start]
• Ongoing Costs:  [Monthly/Yearly expenses]
• Income Projections:  [Expected monthly/yearly revenue]
• Break-even Analysis:  [When will you start making a profit?]

9. SWOT Analysis

• Strengths:  [What are you good at?]
• Weaknesses:  [Where can you improve?]
• Opportunities:  [What can you capitalize on?]
• Threats:  [What external challenges can affect your business?]

10. Appendices (Optional)

• Client Testimonials:  [Proof of your abilities and results]
• Certifications:  [Any relevant qualifications]
• Supporting Documents:  [Contracts, study results, research]

Remember, this template is a starting point. As you delve deeper into your business planning, be prepared to adjust and customize sections to fit your unique business model and services. The more detailed and thorough your business plan, the better equipped you'll be to launch your life coaching business with confidence and clarity.

Tips for crafting an effective Life Coaching Business Plan

Start with clarity.

Ensure you have a clear understanding of your business goals and vision. This clarity will act as your compass throughout the planning process.

Stay Flexible

While it's essential to stick to a plan, be prepared to adapt when needed. The coaching industry can evolve, and flexibility ensures you remain relevant.

Use Reliable Data

When conducting market and competitive analysis, always use credible sources. Accurate information is crucial to making informed decisions.

Engage with Your Target Audience

Before finalizing your plan, engage with potential clients to get feedback. Their insights can help tailor your services more effectively.

Seek Feedback

Share your draft plan with trusted peers, mentors, or other coaches. They can provide invaluable input, highlight overlooked areas, and suggest improvements.

Stay Updated

The coaching industry, especially niches like executive coaching, may have shifts in trends. Regularly revisit and update your business plan to stay current.

Focus on Differentiators

Highlight what sets you apart in the market. Whether it's your unique coaching method or specific qualifications, ensure they shine through in your plan.

Budget Wisely

Financial planning can make or break a business. Be conservative in your projections and always account for unforeseen expenses.

Leverage Technology

Utilize software or online tools that assist in business plan creation. They can offer templates, financial calculators, and more, simplifying the process.

Keep It Concise

While detail is essential, avoid unnecessary jargon or overly lengthy sections. A concise and clear plan is more likely to be referred to regularly.

Regularly Review

Don’t let your business plan collect dust. Regularly review and adjust as you achieve milestones, face challenges, or identify new opportunities.

Stay Client-Centric

Always keep your potential and current clients at the heart of your plan. After all, they are the reason for your coaching business's existence.

Crafting an effective life coaching business plan requires a mix of research, introspection, and forward thinking. By adhering to these tips and maintaining a client-first perspective, you'll pave the way for a successful and impactful coaching journey.

Common Mistakes to Avoid

Watch out for these common mistakes that are often made when it comes to creating a life coaching business plan.

Vague Vision

Clearly define your coaching objectives and services. A vague or general vision will not provide the specific direction you need.

Skipping Market Research

Not investing time in understanding your target market can lead to misaligned strategies. Always know who your potential clients are and what they seek.

Overestimating Financial Projections

It's natural to be optimistic, but unrealistic financial projections can lead to disappointment and financial strain. Always be conservative and 

realistic in your estimates.

Ignoring Competition

Every industry has competition. By not acknowledging or understanding competitors, you may miss out on differentiation strategies or potential collaborations.

Setting Too Many Goals

While ambition is commendable, trying to achieve too much too soon can spread your resources thin. Focus on a few key goals initially and expand gradually.

Neglecting Marketing

A great coaching method needs visibility. Not investing in marketing or neglecting its importance can severely limit your reach.

Avoiding Technology

In today's digital age, avoiding online platforms or technology can hinder growth. Embrace digital tools, from CRM systems to social media, for better client engagement.

Static Planning

The belief that once a plan is set, it should remain unchanged is a mistake. Regular reviews and adaptations are necessary as the market and client's needs evolve.

Undervaluing Services

While competitive pricing is essential, undervaluing your services can impact your revenue and market positioning.

Not Seeking Feedback

A business plan crafted in isolation, without any external feedback, may have overlooked areas. Seek insights from peers, mentors, or even potential clients.

Ignoring Professional Development

The coaching industry values continuous learning. Neglecting your own professional growth can render your methods outdated.

Overlooking Legal and Regulatory Aspects

Ensure you're aware of any licensing, certification, or legal requirements in your area. Overlooking these can lead to potential legal issues.

Avoiding these common mistakes will strengthen your business plan, ensuring it's not just a document but a strategic tool that guides your coaching journey, fostering growth and success.

Something to think about

The journey of establishing a successful life coaching business begins with a well-structured and thought-out business plan. This blueprint not only provides clarity on your vision and goals but also serves as a guiding tool to navigate the complexities of the coaching industry.

Remember, the essence of a powerful business plan lies in its details, adaptability, and the commitment to continual learning. Whether you're just starting out or are a seasoned coach looking to scale, revisiting and refining your business plan can make all the difference.

Embrace the process, learn from both successes and challenges, and let your plan be the foundation that propels your coaching career to new heights.

This post was all about how to create a Life Coaching Business Plan Template Free.

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Get the most out of your business plan example

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

1. Don't worry about finding an exact match

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

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

2. Remember it's just an example

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

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

3. Know why you're writing a business plan

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

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

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

More business planning resources

How to Write a Business Plan

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How to Create a Business Plan Presentation

Simple Business Plan Outline

Industry Business Planning Guides

How to Write a Business Plan for Investors

10 Qualities of a Good Business Plan

How to Start a Business With No Money

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How to write a business plan for life coaches (with free pdf template).

Table of Contents

“ 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.”

Life coaches are passionate about helping people improve various aspects of their lives, yet many of us  lack the skills required to run the coaching business . I have attended numerous coaching workshops where running the actual coaching business remains one of the recurring concerns of coaches. As a result, many coaches struggle to grow sustainable coaching businesses .

Since you’re here, you must be interested in how to write a business plan for life coaches, and I’ll show you how, so that you avoid the obstacles which threaten the success of many life coaching practices.

Sit back and enjoy the read because you’ll get good value from this post.

But first, what is a business plan for life coaches?

A business plan for life coaches is a comprehensive compilation of plans for your coaching practice. It is a presentation of your vision, mission, objectives, and short and long-term strategies for your business. 

A life coaching business plan also illustrates the steps to reach the goals the coach aspires to. If the primary plan fails to deliver anticipated results, you could act on the contingency plan.

Why Do I Need a Business Plan?

You’re probably thinking ”My coaching business is small. As long as I can keep the books in order, I’ll be ok. Why do I need a business plan? ” 

Some businesses have found success without business plans, but those with plans found success faster.

One thing is sure, though. If you don’t create a business plan and systems begin to fail within your business, you’re likely to lose it all by winging it.

Before writing a life coaching business plan, it is imperative to understand the scope of your business, the services to be rendered, and to communicate what the business entails to others. If you know your business and the solutions you want to provide, you’ll sign up your ideal clients easier, create better products and services, and scale your business quicker. 

Furthermore, if you intend to get a loan to fund your business start-up, I strongly advise you to write a comprehensive business plan. Lenders and investors may decide to provide funding based on your projections.

What Are The Types of Business Plans?

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

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

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

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

The answer? RESEARCH.

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

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

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

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

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

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

Life Coach Business Plan Template

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

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

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

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

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

1.      Executive Summary

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

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

2.      Company description

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

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

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

3.      Goals and Objectives

What are your business goals? 

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

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

4.      Products and Services

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

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

5.      Market Analysis

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

a.         Results from SWOT analysis

b.         Target market valuation

c.         Market trends

d.         Profile of your competitors

e.         Competitive advantage for your coaching business

f.          Benefits your clients stand to gain

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

6.      Marketing and Sales Strategy

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

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

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

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

• Direct sales
• Sales representatives
• E-commerce channels

7.      Operations

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

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

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

8.      Financial analysis and projections

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

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

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

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

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

• Financial statements
• Profit margins

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

9.      Appendix

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

1.    Certifications

2.    Your resume 

3.    Resumes of key team members

4.    Licenses

5.    Contracts

6.    Marketing materials e.t.c.

7.    Market research report

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

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

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

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

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

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

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

Common Business Plan Mistakes Life Coaches Must Avoid

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

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

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

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

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

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

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

What do you think would happen?

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

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

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

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

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

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

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

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

What Is Life Coaching

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

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

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

Why Every Life Coach Needs a Business Plan

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

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

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

How to Start Your Life Coaching Business

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

These are the steps to start your life coaching business:

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

5 Key Components of a Life Coaching Business Plan

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

1. Business Identity and Branding

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

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

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

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

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

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

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

2. Defining Your Target Client

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

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

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

2.2: Create a client avatar.

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

3. Addressing Client Pain Points

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

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

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

It will look something like this:

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

For example:

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

4. Your Unique Solution

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

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

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

5. Analyzing Your Competition

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

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

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

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

Financial Aspects of Your Life Coaching Business Plan

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

Revenue Streams and Pricing

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

To break this pricing strategy down, consider:

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

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

Budgeting and Expenses

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

Some expenses to consider:

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

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

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

Marketing and Promoting Your Life Coaching Business

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

Building an Effective Online Presence

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

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

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

For social media:

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

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

Networking 

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

Some options to consider are:

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

Building Client Relationships

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

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

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

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

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

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

Common Questions About Life Coaching Business

How profitable is a life coaching business.

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

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

Is it profitable to be a life coach?

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

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

Do life coaches need a business plan?

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

A life coaching business plan will help you:

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

Final Thoughts

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

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

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

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

About the Author | Ashlie Franey

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

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

May 17, 2023

The Coach Factory Team

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 .

• 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.

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.

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. 

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.

Written by The Coach Factory Team

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

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• Business plans

Coaching Business Plan Template

Used 4,872 times

If you want to grow your new or existing coaching business, use our free coaching business plan template as a roadmap to success.

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Created by:

​ [Sender.FirstName] [Sender.LastName] ​

​ [Sender.Company] ​

Prepared for:

​ [Recipient.FirstName] [Recipient.LastName]

​ [Recipient.Company] ​

Executive Summary

​ [Sender.Company] is a new life coaching business in [Sender.StreetAddress] [Sender.City] [Sender.State] [Sender.PostalCode] (Insert location here). [Sender.Company] provides services that help their clients achieve various personal and health-related goals.

This includes improving their performance, mental health, confidence, and productivity.

The Company’s goal is to become one of the leading life coach companies in the area. Their objective is to help each client become the very best version of themselves, regardless of their unique challenges.

​ [Sender.Company] will provide life coaching services, which include:

Business coaching

Personal improvement coaching

Family and relationship coaching

​ [Sender.Company] is qualified to succeed due to the following reasons:

There has been significant growth in the life coach industry over the past few years. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the services, supporting the business after launch.

The management team has a track record of success in the life coaching business.

​ [Sender.FirstName] [Sender.LastName] has lived in [Sender.StreetAddress] [Sender.City] [Sender.State] [Sender.PostalCode] all his life and raised his family in the same community as the target market. He has many connections with businesses, government officials, and local organizations.

Business Description

​ [Sender.Company] is dedicated to offering various coaching programs to help clients navigate different aspects of their personal journey. Courses are continually being introduced to cover various personal development and improvement aspects.

​ [Sender.FirstName] [Sender.LastName] is an experienced life coach with extensive skills in personal development, business coaching, therapy, and life coaching. [Sender.Company] will become a well-known life coaching company in [Sender.StreetAddress] [Sender.City] [Sender.State] [Sender.PostalCode] .

Upon surveying the local customer base and finding a potential office location, [Sender.FirstName] [Sender.LastName] incorporated [Sender.Company] as an (Add registration type, i.e., SS corporation, etc.) on (Enter date of incorporation).

​ [Sender.FirstName] [Sender.LastName] has selected an initial location and is currently undergoing due diligence on each property and the local market to assess the most desirable location for the life coaching company.

Since incorporation, the company has achieved the following milestones:

Developed the company’s name, logo, and website

Determined the list of services to be offered

Determined equipment requirements

Began recruiting key employees with experience

(List goal)

The following are a series of steps that lead to our vision of long-term success.

Step 1: (List step)

Step 2: (List step)

Step 3: (List step)

​ [Sender.Company] expects to achieve the following milestones in the following (Enter number) months:

​ [Sender.Company] will serve entrepreneurs, business executives, students, and couples in [Sender.StreetAddress] [Sender.City] [Sender.State] [Sender.PostalCode] . The area it will serve is populated mostly by moderate to affluent people; as a result, they have the means to pay for higher-quality services.

The Company will primarily target the following customer segments:

Entrepreneurs and business executives

Many entrepreneurs and business executives who want to succeed and build sustainable brands seek professional and quality business coaching services.

Couples looking for relationship advice and coaching will seek local services for convenience. [Sender.Company] will be able to cater to these individuals with a centrally located office and flexible service hours.

The Company will offer coaching services to students who want to improve their academic performance and achievements.

Industry Competition

​ [Sender.Company] competes against small, individually owned life coach businesses.

Positive Industry Factors

Increasing demand for personal development and life coaches.

Expected increase in total advertising expenditure, creating opportunities for the industry.

Favorable government policies, including free trade agreements, positively influencing market demand.

The strengths that will set [Sender.Company] apart from competitors include:

(List strengths)

You can use the sample text below to guide you in creating your product list.

​ [Sender.Company] will provide life coach services, which include:

Weight loss and fitness coaching

Career and financial coaching

Executive coaching

Online coaching services

Marketing Plan

​ [Sender.Company] seeks to position itself as a respectable, upper-middle-market competitor in the life coach service market. Customers can expect a high-quality and best life coach experience. The [Sender.Company] brand will focus on the Company’s unique value proposition, which includes:

Offering a wide collection of high-quality life coaching services

Convenient location

Comfortable, customer-focused environment

Moderate price point

Promotions Strategy

​ [Sender.Company] ’s promotions strategy to reach the audience includes:

Pre-Opening Events

Advertisement, public relations, social media marketing, word of mouth marketing, special offers, operations plan, service functions.

Sales Executives

Professional training

Customer service

Administrative Functions

General and administrative functions, including legal, marketing, bookkeeping, etc.

Hiring and training staff

Management Organization

​ [Sender.FirstName] [Sender.LastName] will serve as the Head Life Coach. In order to launch the life coach service company, the company will need to hire the following personnel:

Administrative Assistant

Life Coaches (Number)

Marketing Executive (Number)

Accountant (Number)

Client Services Executive (Number)

Financial Plan

Annual income / profit/loss statement.

Cash Flow Statement

Balance Sheet

Confidentiality Statement

The confidential information and trade secrets described above shall remain the exclusive property of the Company and shall not be shared or removed from the premises of the Company under any circumstances whatsoever without the express prior written consent of the coaching business.

(Add any relevant addendums)

​ [Recipient.FirstName] [Recipient.LastName] ​

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Life Coach Business Plan Template

Written by Dave Lavinsky

Life Coach Business Plan

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

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

Life Coaching Business Plan Sample

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

Executive Summary

Business overview.

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

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

Product Offering

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

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

Customer Focus

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

Management Team

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

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

Success Factors

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

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

Financial Highlights

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

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

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

ADD IMAGE HERE

Company Overview

Who is desert sun life coaching company.

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

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

Desert Sun Life Coaching Company History

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

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

Desert Sun Life Coaching Company Services

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

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

Industry Analysis

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

Customer Analysis

Demographic profile of target market.

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

The precise demographics for Desert Sun Life Coaching Company are:

Customer Segmentation

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

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

Competitive Analysis

Direct and indirect competitors.

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

New Horizons Counseling Center

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

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

Crystal Blue Life Coaching

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

Ocotillo Family Counseling

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

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

Competitive Advantage

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

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

Marketing Plan

Brand & value proposition.

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

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

Promotions Strategy

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

Word of Mouth/Referrals

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

Professional Associations and Networking

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

Partnerships with Local Businesses

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

Social Media Marketing

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

Website/SEO Marketing

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

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

Operations Plan

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

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

Milestones:

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

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

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

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

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

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

Financial Plan

Key revenue & costs.

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

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

Funding Requirements and Use of Funds

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

Key Assumptions

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

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

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Life Coach Business Plan FAQs

What is a life coach business plan.

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

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

What are the Main Types of Life Coach Businesses?

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

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

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

What are the Steps To Start a Life Coaching Business?

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

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

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

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

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

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

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

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

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

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How to Create a Simple Life Coaching Business Plan

• By Luisa Zhou
• Coaching Business , Life Coaching
• Updated: April 17, 2024

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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 to get clarity fast.

Here’s what you need to know!

You’ll learn…

Do you need a coaching business plan?

How do you write your coaching business plan, coaching business plan template.

Here’s the thing:

You actually don’t need a coaching business plan. 

I know on the surface, it might look like running a business involves fancy marketing tactics or that it takes an MBA to make it happen. And that a coaching business plan is part of it all. 

But the truth is:

Owning a business is not a fancy, pie-in-the-sky thing that’s only available to certain people. 

That’s why I don’t typically tell my students to create a business plan, because they don’t really need one. 

But if you want a roadmap for yourself or you’re applying for a grant or funding (which might require a business plan), then, you might spend some time on a business plan. 

That said, keep it simple and don’t spend too much time on it. 

After all, there are plenty of steps you need to take to build your coaching business. You need to…

• Find your business idea and audience 
• Understand how to position your offer
• Learn marketing and sales 

And to get a quick start, the best place to start is to talk to potential clients. (You should do this before you write your business plan.) 

Hop on a few calls and ask your potential clients why they’d want to buy your services. Not only will you get out of your head, actually understand what your clients are looking for, and get their feedback, but you might even land a client or two.

And these types of quick wins will build your confidence fast so that you see just how possible it is for you to build a business.

To find people to talk to, go to an online forum (like a Facebook group) where your audience hangs out and ask them if they want to get your advice in exchange for a market research call where you can ask them questions about what they’re looking for in terms of your services and why. 

I explain the process in more detail here: 

You’ll get tons of material for your coaching business plan — and you’ll create a really valuable plan, rather than base it on your own assumptions (a surefire way to fail as a new business owner). 

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For building a 6-figure coaching business so you can achieve more freedom.

The next step is to write your plan with this coaching business plan outline: 

Introduction

• Executive Summary
• Company Description
• Product/Service Description 
• Value Proposition
• Market Analysis 

Business Model 

• Sales Strategy 
• Growth Plan
• Management & Staffing
• Financial Summary 

And how do you write each of these steps? That’s what we’ll look at next. 

Step 1: Introduction

An executive summary summarizes your coaching business plan. Include a high-level overview of:

• What your business does 
• What you sell (your coaching services)
• Your business goals, what your market looks like
• Who your clients are
• How your coaching differs from other coaching offers out there 
• How big you envision your business to get 
• What your business model looks like

The company description explains what your business does and includes:

• The business structure (is your coaching business a sole proprietorship, incorporation, or another business structure?)
• Your coaching industry
• Your services
• Your long-term plan for if you want to ultimately sell or keep your business
• Your vision, mission , and values
• Your short-term, next-year goals and long-term goals for the next 1-5 years
• Your team (although you’ll likely not have one when you’re starting your business)

In this section, you present your coaching pricing strategy . How much do you charge for your services? (I recommend $1,500 for a 3-month package as a new coach.)

What pricing model do you use? Monthly, per-session, or a package price? I’m strongly in favor of a package price. After all, if your client doesn’t commit to a set amount of time for their coaching, how will they get results? 

Also, is there a risk that your coaching offer infringes on someone’s IP rights? The main risk would be your coaching business name. That’s one of the reasons why the best way to get started is to use your own name as the name of your coaching business. 

Step 2: Value proposition

The next step is your value proposition, which consists of two parts: your market analysis and value proposition. 

Market analysis 

First, you need to understand your target market . That means both your clients’ demographics and psychographics . 

Their demographics are:

• Where they live
• Income 
• Interests 

But even more so, their psychographics explain why they buy from you. Your job is to figure out how to explain why your service is the one for them. In a way that’s true and believable and that connects with your potential clients. 

What language do they use to describe their needs or goals? If you look at a 40-year old parent, they’ll describe their weight loss goals very differently than a 25-year old. 

Ask yourself: 

• What is the problem my clients want to solve? 
• Why can’t my clients solve it right away? 
• What’s the measurable outcome my clients want to achieve? 

You also need to understand your industry . How big is your potential market? What trends are there? How might your industry be changing over time? 

You can look at news outlets, government statistics offices, and academic research to understand where your industry is headed. 

Additionally, your value proposition includes a SWOT analysis. Here, you analyze your strengths, weaknesses, opportunities, and threats. 

Remember that you don’t have perfect information and you will sometimes operate on assumptions. 

So ask yourself what assumptions you have that could cause your business to fail, if they’re proven wrong. For example, assumptions about your coaching clients could potentially mean that your business fails. 

Finally, you need to include a section on your competition , something that Harvard professor Michael Porter’s Five Forces Framework is useful for. 

This model builds on five forces to determine the competitive intensity and the attractiveness of an industry in terms of profitability. 

A coaching industry with a lot of competition won’t have high profitability. But fortunately, most coaching and consulting industries have mild competition, which means that they have room for high returns. 

The Five Forces Framework consists of: 

• Threat of new entry. How likely is it that new businesses will enter your market? It’s relatively easy to start an online coaching business, so there can be a lot of competition. 
• Buyer power. What buying power do your clients have? You need to consider this so that you know if YOUR audience has buying power. For instance, if you sell career coaching to employees, they’ll have much better buying power than someone who is unemployed. 
• Supplier power. Are there many suppliers on the market? If not, you might need to cover high costs. As a coach, this isn’t a huge concern for you, because you don’t rely on suppliers to sell your services. 
• Threat of substitution. How likely is it that your coaching service will be substituted by a low-cost, better alternative? High-ticket coaching isn’t easy to substitute because people aren’t buying your services for the price; they’re buying it for the transformation they get. 
• Competitive rivalry. How can you distinguish yourself from your competition? A few examples include: serving a specific group of clients, your marketing, or establishing technological leadership. As a coach, you’ll most likely use your niche and/or branding to stand out. 

Value proposition

One of the main reasons why 20% of small businesses fail within the first year is that they don’t understand their value proposition. Your value proposition explains how your business will stand out. 

Michael Porter’s Generic Competitive Strategies shows you how to create one.

It includes three factors: 

• Cost leadership. If you go with this value proposition, you lead with price. You become a low-cost business in your industry. This isn’t anything I recommend for coaches. Scaling low-cost coaching would take a lot of resources and you’re far better off with offering high-ticket coaching services and then scaling less hands-on products, such as online courses. 
• Differentiation. Your business stands out by being unique, for instance by having a unique solution to a problem. Take my client David, a health coach, who helps people lose weight with the help of herbs. That’s a very unique way to position a health coaching business. 
• Cost focus or differentiation focus. Your business serves a specific niche, a specific target market need or a target market cost behavior. 

For example, I started my current business when I realized that there wasn’t a great product for employees who want to quit their jobs and become entrepreneurs. I used differentiation focus to target a specific segment within a competitive market (business coaching). 

This chart should help you answer two questions: 

• Who is your target customer? 
• How are you different from the competition? 

Step 3: Business model 

The next step is your business model, which consists of six parts:

An operations plan includes the workflows you’ll need to implement to make your coaching business work. 

As a coach, you don’t need to put too much thought into this part. An operations plan mainly includes information about things like suppliers, logistics, and inventory. A coaching business doesn’t need more than yourself and your laptop. 

Your marketing plan explains how you’re going to market and promote your business. Focus on where your clients are hanging out, such as on Instagram or Facebook or in a physical space like a Toastmasters or Meetup event. 

Include answers to these questions in your marketing plan: 

• What is the pricing of your coaching services? Why did you choose this price? 
• How do you promote your coaching business? 
• Where will you sell your coaching services? 
• What are you selling and how is that different from other existing coaching services? 

Sales strategy 

Next, what does your sales strategy look like? In other words, what are the steps you take to make a sale? 

For instance, your sales strategy could look something like this: 

Facebook ad → Potential client subscribes to your email list → Potential client reads your emails → Potential client buys from you

Growth plan

What will your business growth look like? How will you, specifically and realistically, make it happen? Define the exact steps you’ll take to grow your business. 

In this quick video, I show you how to plan for business growth:

Management & staffing

How is your business run? As a new coach, you’ll likely be the only person in your business. You shouldn’t hire anyone before you’ve done everything yourself for a while. The reason is simple: you’ll need to identify your market and build systems before taking on other people. 

But you can define if you’ll start hiring people at some point. Decide what your business will look like. 

Financial summary

Your financial plan consists of your income statement, balance sheet, and cash-flow statement. 

Income statement: Where do you get your revenue? What are your expenses? Use this information to make a profit-and-loss calculation. At this point, you can estimate your income. Around one out of every ten sales calls will turn into a sale in the beginning, when you’re just learning to sell. 

Cash-flow statement: Your cash-flow statement is like your income statement, but you’ll also take into account when revenues are collected and expenses are paid. If more money comes in than is going out, you have positive cash-flow. 

Balance sheet: List your business assets that you own and owe. Deduct liabilities from assets to get your business’ shareholder equity. 

Plus, you’ll need to consider your risks. What are the biggest risks to your financial viability? 

For example, let’s say you’re a health coach who teams up with a local gym to provide their members with health coaching. Your biggest financial risk (assuming this was your only way to get clients) would be that the gym went bankrupt. 

If you know your risks upfront, you can prepare for them. By including them in your business plan, you understand your risks and can plan ahead.  

Take the example above. You might team up with two or more gyms to ensure that you don’t rely on one income source.

And next, let’s take a look at a coaching business plan template that makes it easy to create your business plan. 

One of my favorite ways to create a business plan is to use the Business Model Canvas. This business model template was first developed by Alexander Osterwalder in 2005 and the idea behind it was to simplify how business plans are created.

The plan includes nine building blocks and you’ll be able to fill in each block with the help of the brainstorming you’ve done in the steps above. 

I put together this fillable PDF to help you use what you learned in this post: 

Start by filling in this PDF to answer all the business plan elements we’ve looked at so far. 

And here’s the Business Model Canvas as a PDF.

Let’s take a look at each of the building blocks here below: 

What coaching services do you sell? What’s the problem you help solve with your services? And what value are you providing to your clients?

As a coach, you sell coaching services. The best way to get started is to sell one-on-one coaching. You can later expand into group programs and online courses. 

Customer segments 

Who are your most important client segments? When you’re starting your business, one client segment is enough. In other words, what’s your niche? 

Not sure how to get started? This guide shows you how to find a niche . 

Revenue streams

List your revenue streams. As you’re starting your business, you’ll likely have just one: your first coaching package . Later on, as said, you can add on group programs and self-study courses. 

How do you communicate with your clients? Which channels do you use to do so? For example, your main channel might be a few Facebook groups or Instagram. Essentially, this is your main marketing channel. 

Here you can read more about marketing to coaching clients and the different channels you can use. 

Customer relationships

What’s your relationship with your clients? Is it personal? Automated? It all depends on what your clients expect. For coaching services and especially as you start your business, your relationship with your audience will be personal. 

When you’re building your business, your #1 goal is to give as much value as you can to people (without expecting something in return from them). That’s how you establish your reputation and show your value. 

Just like I did when I landed my first client. I had helped her for free for two weeks. She realized that I could help her even more if we worked together and asked if I’d be interested. 

Key activities 

What are your key activities for executing your value proposition? In other words: what do you need to do to make your business operate successfully? 

Your key activities are your coaching services; your client calls and the support you give them in between calls.

Key resources

What knowledge, money, people, and means do you need to run your business? 

This one is easy: you only need yourself, your skill, an internet connection, and a laptop!

The coaching business model is great for new entrepreneurs who want to start a business because you can start without any upfront investment and by using skills you already have. 

Key partners

Who are your key partners and suppliers? What partners are essential to your business? 

As a new coach, you don’t really need partners. Later on in your business, you might have affiliate partners who promote you and joint ventures where you team up with another business to sell your product or service. 

Cost structure

What are your business costs? These are determined based on your key resources, key activities, and key partnerships. 

Early on, your costs will be very low. The main costs you’ll have include:

• Coaching contract (you can buy an affordable template rather than work directly with a lawyer) 
• HelloSign (a virtual contract management tool with which you can send your contracts to your clients) 
• Calendly (a scheduling tool for your coaching sessions) 
• Payment processor, such as Stripe or PayPal (you need a payment processor to get paid by your clients and these will charge you a small commission) 
• Educational material, such as business building programs/courses and books

But as your business grows, you will likely take on new costs. For instance: hiring costs (for example, a virtual assistant, support coaches for your programs, Facebook ads manager, and so on), advertising costs (Facebook ads), and different tools to build your business.

Next steps!

There you have it! Now you know how to write a coaching business plan. 

Ultimately, your business will only grow if you take steps to market and sell your coaching services. Once you’ve written a short, simple business plan, go out there and get your first paying clients. THAT’s how you prove to yourself just how possible it is to build your own coaching business.

Want to learn how to build your coaching business?

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Learn more:

How to Build Your Coaching Business

Checklist for Starting a Coaching Business

How to Build an Online Coach Business

About Luisa Zhou

Luisa Zhou has helped thousands of students build and scale their own profitable online Freedom Business. Fun Fact: She used to work as an engineer for the Space Station and holds a B.S.E. from Princeton. Click here to learn more about Luisa.

Hope you enjoy this blog post.

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2 responses.

Just a brief note to say thank you for taking the time to pull this amazing summary (and words of encouragement) together. I’m hoping to start my coaching business soon and this summary does a great job of pulling all the different tools and perspectives together.

You’re welcome! Good luck with your business launch!

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Life Coaching Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Service Industry » Life Coaching Business

Are you about starting a life coaching business ? If YES, here’s a complete sample life coaching business plan template & feasibility report you can use for FREE to raise money .

The life coach profession has continued to soar high in recent times. This is because of the need to help people put their lives in the right perspective. If you think this looks like what you have the penchant for, then it is required that you have a word or two with experts.

This is especially important so that you can know all that needs to be known as it concerns the business that you are looking to start. One of the reasons why this is vital is because of the information the experienced people can give you.

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A Sample Life Coaching Business Plan Template

1. industry overview.

In the early days of human civilization, especially the period when they were very few formal schools, personal training has been in existence.

Although it was only the rich and influential people in the society that could afford personal trainers or life coach at that time, but that does not in any way stop this very old profession from prospering from one generation to another generation.

As a matter of fact, the profession is transforming from one form to another which is why you can now hire personal trainer or life coach to help you achieve what you plan to achieve in life. Life coaches generally help their clients set and achieve their goals; they motivate cum coach their clients to become peak performers in life.

In essence, the Life Coaches industry is made up of professionals whose job is to primarily help their clients set and achieve personal goals. Such goals can be relevant to a client’s job, personal life or interpersonal relationships; they provide counseling services to people in the areas of personal growth, relationship issues, career path and related topics.

The demand for the services of life coaches grows when personal or professional stress arises or intensifies, as well as under strong economic conditions. While industry demand is somewhat negatively correlated with economic health, severe economic contractions ultimately constrain industry growth because consumers are unable to spend freely on discretionary services.

In the coming years, the revenue for the services offered by the Life Coaches industry is projected to grow at an average annual rate of 3.3 percent to $868.5 million

The Life Coaches industry is a thriving sector of the economy of the united states of America and they generates a whooping sum of well over 9 million annually from more than 12,043 registered and licensed life coach companies scattered all around the United States of America.

The industry is responsible for the employment of well over 17,944 people. Experts project the Life Coaches industry to grow at a 3.3 percent annual rate. It is important to state that there is no single organization that has a lion share of the available market in the Life Coaches industry

It can’t be over emphasized that the demand for the services offered by the Life Coaches industry grows when public confidence declines and people’s ability to handle the issues on their own wanes. When the housing bubble burst and the US economy fell into a recession, consumer confidence plummeted.

This decline, coupled with high unemployment, falling incomes and bleak outlooks, caused Americans to seek out the assistance of professional coaches, benefiting the industry. However, as the economy slowly continues to recover and consumer confidence returns, demand for life coaches is expected to diminish.

Going forward, clients and potential clients alike will likely require less guidance, high-income households will serve as the primary vehicle of growth for the industry

Lastly, as a life coach, the key attributes needed to be able to make good success from the trade is patience, enthusiasm, passion about the specific area or goals to be handled, and constant positivity. You are also expected to be highly proactive; you would need to be good at planning, preparation, and certain other organizational skills.

It is one thing to have a skill and it is another thing to know how to coach people into becoming successful; which is why you must constantly get feedbacks from your clients to be able to measure their progress and your performance.

2. Executive Summary

Barry & Becky®, LLP is a professional and licensed Life Coaching Firm that is specialized in helping her clients achieve their personal goals and improving their competence, capacity and productivity. The scope of our business offerings cover areas such as business coaching, personal improvement coaching, family and relationship coaching, weight loss and fitness coaching, executive coaching, career and financial et al.

Our business will be located in – between a well – populated residential estate and a business district in Smethport – Pennsylvania, United States of America.

Barry & Becky®, LLP is a client-focused and result driven life coaching organization that provides broad-based motivational, learning approaches and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients. 

We will ensure that we work hard to meet and surpass all our clients’ expectations as it relates to their career and personal goals whenever they hire our services.

At Barry & Becky®, LLP, our clients’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professional and certified life coaches with various skill set areas that are well experienced and passionate in helping our clients achieve their personal goals within record time.

Barry & Becky®, LLP will at all times demonstrate her commitment to sustainability, both individually and as a personal training organization, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our clients’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our overall business goal is to position our life coaching organization to become the leading personal training / coaching brand in the coaches industry in the whole of Smethport – Pennsylvania, United States of America, and also to be amongst the top 10 personal training and coaching business in the United States of America within the first 5 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Smethport is the right place to launch our personal training cum life coaching business.

Barry & Becky®, LLP is founded by Dr. Barry Jimmy and he will run the business with his business partner for many years Dr. Becky Allison.

Dr. Barry Jimmy is a renowned personal effectiveness cum life coach and he has well over 20 years of experience as a life coach working with top government officials, corporate executives and sports people both in the United States of America and Canada.

He has several life coaching and personal training certifications, he is certified NPL practitioner and he is a member of many relevant organizations both in the United States and on a global level (International Coach Federation – ICF amongst others).

3. Our Products and Services

Barry & Becky®, LLP is going to offer varieties of personal training and life coaching services within the scope of the personal training and life coaching industry in the United States of America. Our intention of starting our life coaching organization is to help our clients achieve their personal goals and improving their competence, capacity and productivity.

And of course to also make profits from the personal training cum life coaching industry and we will do all that is permitted by the law in the US to achieve our aim and business goal. Our service offerings are listed below;

• Business coaching
• Personal improvement coaching
• Family and relationship coaching
• Weight loss and fitness coaching
• Career and financial
• Online Coaching Services
• Retailing of Self – help Books and Materials

4. Our Mission and Vision Statement

• Our vision is to build a highly competitive and effective life coaching business that will become the number one choice for both individuals and corporate organizations in Smethport – Pennsylvania and the whole of the United States of America
• Our mission is to provide affordable professional and highly effective personal training / life coaching services to a wide range of clients that cuts across different divides.
• Our overall business goal is to position Barry & Becky®, LLP to become one of the leading life coaching brand in the industry in the whole of Smethport – Pennsylvania, and also to be amongst the top 10 personal training and coaching brand in the United States of America within the first 5 years of operations.

Our Business Structure

Barry & Becky®, LLP, is a life coaching firm that intend starting small in Smethport – Pennsylvania, but hope to grow big in order to compete favorably with leading personal training and life coaching firms in the industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Barry & Becky®, LLP, we will ensure that we hire people that are qualified, hardworking, creative, passionate, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff / partners and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Principal Partner / Chief Executive Officer
• Personal Trainers for Various Skill Sets
• Accountant / Bursar

Client Service Executive

• Front Desk Officer

5. Job Roles and Responsibilities

Head of the Tutorial College / School Coordinator:

• Responsible for providing direction for Barry & Becky®, LLP
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals (clients such as Top Government Officials, Politicians, Superstars, and Celebrities et al)
• Responsible for fixing fees and signing business deals (partnership)
• Responsible for signing checks and documents on behalf of the tutorial college
• Coordinate all arms of the business and develop curriculum for the school
• Evaluates the success of the business
• Reports to the board of Barry & Becky®, LLP.

Office Administrator

• Responsible for overseeing the smooth running of HR and administrative tasks for Barry & Becky®, LLP
• Design job descriptions with KPI to drive performance management for life coaches
• Regularly hold meetings with key stakeholders to review the effectiveness of the organizations’ Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily activities of Barry & Becky®, LLP.

Life Coaches / Personal Trainers

• Handles business coaching services
• Responsible for personal improvement coaching services
• Responsible for family and relationship coaching services
• Handle weight loss and fitness coaching services
• Responsible for career and financial coaching services
• Handles online coaching services
• Handles any other duty as assigned by the Principal Partner / CEO.

Marketing Executive

• Identifies, prioritizes, and reaches out to new students, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents Barry & Becky®, LLP in strategic meetings
• Helps to increase sales and growth for Barry & Becky®, LL.
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for Barry & Becky®, LLP
• Serves as internal auditor for Barry & Becky®, LLP.
• Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the principal partners in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
• Receives parcels / documents for Barry & Becky®, LLP

6. SWOT Analysis

We are aware that one of the best things to happen to any business is to be aware of their areas of strengths and weaknesses. This is exactly what we plan to do when we conducted a similar research.

Barry & Becky®, LLP engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured personal training and life coaching business that can favorably compete in the highly competitive personal training and life coaching industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Barry & Becky®, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Barry & Becky®, LLP;

Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in personal development and life coaching.

Aside from the synergy that exist in our carefully selected team members and our strong online presence, Barry & Becky®, LLP is well positioned in a community with the right demography and we know we will attract loads of students from the first day we open our doors for business.

As a new personal training and life coaching organization in Smethport – Pennsylvania, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated personal training and life coaching industry; that is perhaps our major weakness.

• Opportunities:

No doubt, the opportunities in the personal training and coaching industry is massive considering the number of individuals and corporate organizations who would want to achieve their goals and to perform excellently well in their jobs and personal life.

As a standard personal training and life coaching organization, we are ready to take advantage of any opportunity that comes our way.

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.

Some of the threats that we are likely going to face as a personal training and life coaching organization operating in the United States of America are unfavorable government policies that might affect business such as ours, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

We have left no stone unturned in know the advantages, as well as all the odds that are stacked against us. One thing is certain, the trend in the personal training and coaching industry is such that if you want to be ahead of your competitors, you should be able to acquire as much certifications as possible and you should be able to have loads of testimonies from your clients.

The truth is that, if your clients experienced huge difference in their life as a result of hiring the services of your organization, then they will be compelled to help promote your organization. Another notable trend in this industry is the influence of technology; the advent of technology is responsible for the increase in income generated by life coaches and personal development coaches all over the world.

With technology, it is no easier for life coaches and personal trainers to coach and train clients that are thousands of kilometers away from them. Tools like video calling / Skype, YouTube, DVDs and Webcast et al are being used by life coaches and personal trainers to train cum coach clients in different parts of the world.

8. Our Target Market

The target market for a personal training and life coaching companies is all encompassing. Barry & Becky®, LLP is a professional and licensed Life Coaching Firm that is specialized in helping her clients achieve their personal goals and improving their competence, capacity and productivity.

As a standard personal training and life coaching organization, Barry & Becky®, LLP offers a wide range of personal development trainings and life coaching services hence we are well trained and equipped to services a wide range of clients (public figures, celebrities and non – celebrities alike).

Our target market as a life coaching company cuts across people of different class and people from all walks of life. We are coming into the personal development and coaching industry with a business concept and company’s profile that will enable us work with the clients at different learning stages and different status.

Below is a list of the clients that we have specifically design our life coaching services for;

• Working Class Adults / Corporate Executives
• Politicians
• Business People / Entrepreneurs
• Government Officials
• Celebrities
• Public Figures
• Applicants / School Leavers
• Sports Men and Women
• College Students

Our Competitive Advantage

Competition must not only be looked at in the bad light, but should be seen as a blessing indeed. No doubt, the personal training and coaching industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can successfully help them achieve their personal goals or acquire a new soft skill set that will help them to be effective at work and in their personal life.

It is the practice for personal trainers and life coaches to acquire as much certifications as it relates to their area of specialization; it is part of what will make them stay competitive in the industry

We are quite aware that to be highly competitive in the personal training and coaching industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times.

Barry & Becky®, LLP might be new Smethport – Pennsylvania, but the management team and the owner of the business are considered gurus in the industry. They are people who are core professionals, licensed and highly qualified life coaches that can successfully build soft skills in people with zero proficiency to 8 or 10 on a scale of 10 within a short period of time.

These are part of what will count as a competitive advantage for us. Aside from our robust experience and expertise of our life coaches, we have a very strong online presence that will enable us coach and mentor clients in different parts of the world from our online portals.

Lastly, our employees (personal trainers and life coaches) will be well taken care of, and their welfare package will be among the best within our category (startups personal training and life coaching businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Barry & Becky®, LLP is established with the aim of maximizing profits in the personal training and coaching industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. Barry & Becky®, LLP will generate income by offering the following training / coaching services;

10. Sales Forecast

One thing is certain, there would always be corporate organization and individual who would need that extra coaching or push in other for them to achieve their personal goals and also to enable them become peak performer in the career and in their family life. This is the major reason why the services of personal trainers or life coaches will always be needed.

We are well positioned to take on the available market in Smethport – Pennsylvania and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our personal training and coaching business and our clientele base.

We have been able to critically examine the personal training and life coaching market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Smethport – Pennsylvania.

Below is the sales projection for Barry & Becky®, LLP, it is based on the location of our personal training and coaching company and of course the wide range of trainings that we will be offering;

• First Fiscal Year-: $150,000
• Second Fiscal Year-: $350,000
• Third Fiscal Year-: $750,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst personal training and coaching firms in the United States of America, hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Barry & Becky®, LLP.

We will also ensure that our clients’ becomes experts with the skills they acquire; we want to build a standard and first – class personal training and life coaching business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow Barry & Becky®, LLP to become one of the top 10 personal training and life coaching organization in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Smethport – Pennsylvania but also in other cities in the United States of America.

Barry & Becky®, LLP is set to make use of the following marketing and sales strategies to attract clients;

•  We will do well to introduce our personal training and coaching company by sending introductory letters alongside our brochure to corporate organizations, households and key stake holders in Smethport – Pennsylvania.
•  We will also print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our personal training and coaching company
• Post information about our personal training and coaching school on bulletin boards in places like schools, libraries, and local coffee shops.
• Placing a small or classified advertisement in the newspaper, or local publication about our personal training and coaching company
• Advertise our life coaching company in relevant educational magazines, newspapers, TV stations, and radio station.
• Attend relevant educational expos, seminars, and business fairs et al
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients.

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both corporate clients and private clients in the whole of Smethport – Pennsylvania which is why we have made provisions for effective publicity and advertisement of our business. Below are the platforms we intend to leverage on to promote and advertise Barry & Becky®, LLP;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Smethport – Pennsylvania.
• Engage in road show from time to time in targeted neighborhoods
• Distribute our fliers and handbills in target areas
• Contact corporate organizations by calling them up and informing them of Barry & Becky®, LLP and the services we offer
• List our life coaching company on local directories / yellow pages
• Advertise our life coaching company in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our personal trainers, life coaches and staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al.

12. Our Pricing Strategy

Generally for personal training and life coaching business bills both per hour billing and flat fees on a weekly or monthly basis applies. As a result of this, Barry & Becky®, LLP will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis.

At Barry & Becky®, LLP we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our clients at regular intervals.

We are aware that there are some clients that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

• Payment Options

At Barry & Becky®, LLP, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via mobile money
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

In setting up a personal training and life coaching business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a higher amount of capital as you would need to ensure that your employees are well taken care of.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The start – up capital for a home based personal training and life coaching business might fall between $500 and $2,000, while that of a medium and large scale would definitely be higher.

The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a personal training and life coaching business; it might differ in other countries due to the value of their money.

However, this is what it would cost us to start our own standard and world class life coaching company in the United of America;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring an office space that will accommodate the number of employees we intend employing for at least 6 months (Re – Construction of the facility inclusive) will cost – $35,000.
• Equipping the office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
• Launching an official Website will cost – $500
• Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
• Miscellaneous – $5,000

While a home tutor might not have to incur all these expenses but going by the above report, we will need an average of $150,000 to start a medium scale life coaching business in the United States of America.

Generating Funding / Startup Capital for Barry & Becky®, LLP

Barry & Becky®, LLP is a business that will be owned by Dr. Barry Jimmy and his business partner for many years Dr. Becky Anderson. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $50,000 ( Personal savings $35,000 and soft loan from family members $15,000 ) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Barry & Becky®, LLP is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our life coaching services and advisory and consulting services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Barry & Becky®, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID : In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business : Completed
• Leasing a standard office facility in a good location plus reconstruction: In Progress
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the school: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In Progress
• Creating Official Website for the business: In Progress
• Creating Awareness for the tutorial school in Smethport – Pennsylvania: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in various industries: In Progress

Business Strategy Coach Blueprint: Your Guide to Strategic Business Excellence

The MentorCruise team shares crucial career insights in regular blog posts.

Did you know? We have over 3,000 mentors available right now!

Get matched with a mentor in 60 seconds.

But what does a business strategy coach really do, and how can they help your business thrive? 

In this MentorCruise article, we explore the ins and outs of business strategy coaching, why it’s important, how to find the right business coach, and best practices for making the most out of this professional relationship.

What is a business strategy coach?

A business strategy coach helps entrepreneurs, agencies, and business creators develop and implement strategies to achieve their goals. 

They offer one-on-one guidance, focusing on skills, systems, and strategies needed for long-term success. This helps business owners clarify their vision, set strategic goals, and create actionable plans to achieve those goals.

Types of business coaches

There are various types of business coaches, each specializing in a specific area:

• Executive coaches: They focus on leadership and management skills by helping executives develop their leadership capabilities, and improve decision-making and management skills.

Example: An executive at a large corporation might hire an executive coach to develop better leadership skills and navigate complex organizational challenges.

• Life coaches: They blend personal development with business goals by helping clients balance work and life, enhance personal fulfillment, and align their personal values with their business practices.

Example: An entrepreneur struggling with burnout might hire a life coach to find a better balance between their personal and professional lives.

• Strategic coaches: They emphasize practical strategies and systems for business growth by helping businesses develop and implement strategies to hit their targets.

Example: A small business owner looking to expand their market reach might hire a strategic coach to develop a comprehensive growth strategy.

At MentorCruise, we provide expert business strategy coaches who can guide you through the challenges of business growth.

Farzad Khosravi , a seasoned business strategy coach with 10+ years of experience, specializes in guiding tech entrepreneurs and professionals through critical transitions. As a 3x Founder and software executive, he offers valuable insights on scaling startups and enhancing team performance.

His coaching has benefited 300+ clients, from startups to Fortune 500 companies, focusing on actionable strategies for growth and engagement.

Examples of business coaching success

The impact of business coaching can be significant.

For example, a Fortune 500 firm reported a staggering 529% to 788% ROI from executive coaching. This dramatic return shows up in different aspects of business performance, such as productivity, employee satisfaction, and leadership efficiency.

Case Study: Hon Tjuin, founder of a new speech therapy business in Singapore, struggled with UX design due to limited expertise. He sought help from us and was paired with our mentor James, who provided practical UX training.

His guidance improved their product design and instilled accountability, enhancing the business's overall growth.

Statistic: According to a study conducted by the International Coach Federation (ICF) , 86% of companies report that they recouped their investment in coaching, and 96% of those who had an executive coach would repeat the process. This shows how business coaching gave positive outcomes linked to both tangible and intangible factors. 

Tangible factors included: 

• Increased productivity
• Higher overall employee performance
• Reduced costs
• Growth in revenue and sales
• Higher employee retention
• Greater employee engagement. 

While the intangible factors included: 

• Increased confidence among those being coached
• Improved communication
• Stronger relationships between employees, peers, and key stakeholders. 

This proves that business coaching not only boosts measurable results but also improves the work environment. 

Why is a business strategy coach important?

Here’s why you should consider hiring a business strategy coach:

• Provides expert guidance to navigate business challenges
• Identify growth opportunities
• Offers objective perspectives to refine strategies
• Sets clear, achievable goals
• Implement effective action plans
• Empowers you to make better decisions and streamline operations
• Holds you accountable, ensuring consistent progress toward your goals
• Avoids costly mistakes and accelerates business growth
• Fosters long-term success by enhancing business efficiency and scalability

For instance, after joining MentorCruise and working with our startup mentor Lloyd Jacob , Egle Zuzeviciute , a product marketing professional at Exacaster, quickly transformed her marketing approach. 

Having mastered crucial tools through personalized guidance, gained confidence, and contributed fresh ideas to her company, Egle now highly recommends our mentorship

Best practices when working with a business strategy coach

• Be open to feedback: Approach your coach with an open mind, ready to receive constructive criticism and new insights.
• Set clear goals: Set specific, measurable objectives you want to achieve with your coach from the get-go.
• Be committed and consistent: Regularly attend coaching sessions and actively implement their advice.
• Prepare for sessions: Arrive with questions, challenges, and updates on your progress to get the most out of your coach’s expertise.
• Be honest and transparent: Share your challenges, goals, and business status truthfully to let your coach provide advice that works.
• Measure progress: Track your performance and results to see how effective their coaching is and adjust accordingly.

Template for hiring a business strategy coach

Step 1: identify your needs.

Assess your business's current state and pinpoint areas that need improvement or guidance.

• List specific areas for improvement: Start by listing areas where you feel your business could benefit. These include strategic planning, marketing, leadership development, financial management, and operational efficiency.

Example: If your business is struggling with scaling operations, list areas such as supply chain management, workforce optimization, and process automation for improvement.

• Determine the type of business coach: Decide which type of business coach would best suit your needs based on what you need to improve.

Example: If you need help with leadership skills and personal development, go for a life coach or an executive coach. If you need to develop business growth strategies, a strategic coach would be more suitable.

Step 2: Research potential coaches

This involves using various resources and evaluating the credentials of potential coaches.

• Use professional platforms: LinkedIn, Upwork, and mentorship platforms can provide potential business coaches with detailed profiles, client reviews, and endorsements to help you assess their qualifications. 

Example: A LinkedIn search for "business strategy coach" can result in profiles of coaches with detailed information about their backgrounds, expertise, and client testimonials.

• Verify credentials, experience, and testimonials: Look for certifications from reputable coaching organizations, such as the International Coach Federation (ICF). Review testimonials and case studies to gauge how effective their coaching is.

Example: An ICF-certified coach with several positive testimonials from business owners in your industry would be a strong candidate.

• Look for published works or case studies: These help coaches to demonstrate their expertise in their field, and can give you valuable insights into how they coach and what methods they use.

Example: A coach who has authored a book on strategic planning or has published case studies on successful business transformations would be worth considering. 

Step 3: Evaluate their methods

This will make sure that they align with your business goals and working style.

• Schedule an initial consultation: Many business strategy coaches offer a free initial consultation. Discuss your business needs, ask about their coaching methods, and see if there’s a good fit.

Example: During the consultation, ask the coach how they would approach a specific challenge your business is facing. This will give you an idea of their problem-solving skills and methods.

• Ask about their coaching methods and success stories: Ask about the specific methods and tools they use in their coaching practice, or request examples of their success stories or case studies.

Example: A coach might explain their use of strategic planning frameworks or productivity tools, and share their story about how these methods helped a client increase their revenue.

• Ensure their approach aligns with your goals: Confirm that the coach’s approach and philosophy align with your business values and objectives. This is important for a productive coaching relationship.

Example: If your business values innovation and creativity, make sure the coach supports and encourages these principles in their coaching approach.

Step 4: Set clear expectations

Starting with clear goals from the beginning makes the coaching process smooth and effective.

• Discuss meeting frequency, communication methods, and tasks: Agree on how often you will meet, the preferred methods of communication (e.g., phone, video calls, email), and any tasks you need to complete between sessions.

Example: You might decide to have bi-weekly video calls and use email for any follow-up questions or updates between sessions.

• Agree on a structure for the coaching process: Create a structured plan for the coaching process, including milestones, deliverables, and timelines. This way, both parties will stay accountable and focused.

Example: You might agree to set specific milestones, such as completing a business plan by the end of the first month.

Step 5: Build a trusting relationship

A successful coaching relationship is built on trust and open communication.

• Be honest about your challenges and strengths: Transparency is key. Be honest with your business coach about your strengths and weaknesses. This will help your coach provide more targeted and effective guidance.

Example: If you’re struggling with cash flow issues, be upfront about it so your coach can help you develop a financial management strategy.

• Develop a safe space for open discussions: Create an environment where you can comfortably discuss your business. This will help you explore new ideas and address concerns without fear of judgment.

Example: Make sure that your meetings are confidential and encourage open dialogue about all aspects of your business.

Step 6: Implement and adapt

Implement the strategies discussed during your sessions and adapt as needed.

• Apply the strategies discussed during coaching sessions: Take the insights from your business coach and apply them to your business. This is where you will see tangible results.

Example: If your coach recommends a new customer acquisition strategy, put it into action and see how it impacts your business.

• Be flexible: Make adjustments based on feedback and evolving circumstances. Coaching is an ongoing process that needs constant adaptation.

Example: If the initial results of a new strategy are not as expected, tweak your approach based on your coach’s advice.

Step 7: Measure success

Regularly measure your progress towards your goals to make sure that the coaching is effective.

• Use KPIs to track progress: Define key performance indicators (KPIs) that align with your goals and track your progress against these metrics. KPIs provide a quantifiable measure of success.

Example: If your goal is to increase sales, track metrics such as monthly revenue, number of new customers, and conversion rates.

• Regularly assess the impact of coaching: Review and assess both the tangible results (e.g., increased revenue) and intangible benefits (e.g., improved leadership skills).

Example: Carry out quarterly reviews to evaluate the progress and discuss any adjustments or new goals with your coach.

For more insights, make sure to go through our blog on 7 easy steps for finding a business mentor.  

Common challenges with a business strategy coach and how to overcome them

Challenge 1: finding the right coach.

This can be a daunting task. With so many options available, you need to do thorough research and find someone who suits your business needs and values.

Solution: Use professional networks, seek recommendations, and take interviews. Take your time to find a coach who feels like the right fit, instead of rushing the process.

Example: An entrepreneur might spend several weeks interviewing multiple coaches to find one with the right experience and approach.

Challenge 2: Setting realistic goals

Setting unrealistic goals can lead to frustration and disappointment. Rather, consider your business's current state and future aspiration to set measurable goals.

Solution: Work with your coach to set SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound). 

Example: A business owner might set a goal to increase sales by 10% over 6 months, rather than aiming for an unrealistic 50% growth.

Challenge 3: Maintaining momentum

It's easy to lose momentum, especially with setbacks. Consistent effort leads to long-term success.

Solution: Regularly review your progress, celebrate small wins, and stay committed. Your coach can help you stay motivated and focused.

Example: A startup might celebrate each new client acquisition as a small victory to maintain motivation and momentum.

Challenge 4: Balancing feedback and independence

While it's important to listen to your business coach's feedback, it's equally important to be independent and make decisions that are best for your business.

Solution: Use your coach's feedback as guidance, but always consider your business context and instincts. Balance the following advice and make independent decisions.

Example: A business owner might take their coach's advice on marketing strategies but adjust it to fit their brand's voice and target audience.

Find the best business strategy coach with MentorCruise

At MentorCruise, we offer a wide selection of experienced coaches to help you reach your goals. With a proven track record of helping professionals like you reach new heights in your career, our coaches offer affordable, flexible packages with no hidden fees.

Browse our mentors at MentorCruise to find the best business strategy coach. 

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A Sample Business Plan For a Life Coaching Business

April 20, 2016 by Fred Phillips 3 Comments

You already know you need a business plan – so here you’ll find a few tips on business plan writing and a sample business plan for a life coaching business .

A Few Quick Tips on Writing a Business Plan for a Life Coaching Business

• Give yourself time to write it. You may even need to write it over the course of a few days. Don’t rush!
• Make it comprehensive yet concise. That means it needs to contain all pertinent information, but you have to cut out the crap. Stick to the main details!
• Don’t create it at work or in front of the television. Sure, you can jot down some idea or notes at work, but get away from all the distractions when you write your business plan.
• Look at a sample business plan, or a few samples. Get an idea of what a good business plan for a coach looks like. It’s not cheating to take ideas from a quality sample business plan for a life coaching business .

A Sample Business Plan for a Life Coaching Business

Over the years JTS Advisors and Master Coach University has regularly planned out the year ahead in a three step process , ultimately rendering annual business plans for our coaching businesses .  I’ve added some of our past business plans below for reference (you’ll notice how they evolve over the 10+ years that these business plans span):

…   . 2005               2006                 2007       ……. …     2008

….. 2010         ..       2012                   2013       ……… …     2015

The words won’t be filled in exactly the way you’ll need to, and the details will require some updating, but these sample business plans for a life coaching business will give you the basic structure and what items to include.

Vision and Values

This section is an introduction to who you are as a coach and the aspirations, values, and core competencies of your coaching practice. You can use this section as a guide when making difficult business decisions.

Administrative

Sample business plans for life coaching businesses often leave this one out. But, you have to write down some of the founding details of your business. Type of business, expected fees, future expected fees, licenses and certifications you need or desire, and anything else that pertains to the set up, operation, location, and function of the business portion of your coaching practice.

Desired Goals and Outcomes

This is what you try to identify with your clients, and you should also be doing it for your own practice. What are your work goals, financial goals, niche goals, future business personal goals, and the goals for your clients?

Marketing and Promotion

Marketing is often a dreaded yet necessary activity. Without marketing, your great coaching skills may remain unknown! This section should include your target market, how you are going to get that market to notice you and pay for your services. What methods will you use? Will you employ someone to help you or do you plan to do it yourself?

SWOT – What is SWOT?

No sample business plan for a life coaching business would be complete without SWOT.

S – Strengths. Experience, training, expertise, training, contacts, character traits, etc.

W – Weakness. Lack of experience, lack of training, skills that need improving, etc.

O – Opportunities. New markets, lack of competitors, alternate streams of income, peer networks, etc.

T – Threats. Competitors, economic issues, market changes, etc. If you put together a business plan with all these items, you’re going to have one powerful business plan that will help get your life coaching business off to a great start and keep it running successfully and profitably for many years!

SPECIAL BONUS — If you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “ Life Coach Salary Secrets ” video toolkit. Go HERE to get it FREE .

Fred Philips Business Coach Writing Team, Coaches Training Blog Community

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Facebook comments:

June 29, 2016 at 7:59 PM

Thank you for the sample business plan. It was very well written.

June 29, 2016 at 8:00 PM

The tips were very helpful. As usual love the post Fred.

May 23, 2017 at 2:48 AM

Following the SWOT, you will get far. Ive been doing SWOTs every time we need to make a business plan and it’s very helpful.

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