Need a Life Coaching Business Plan Sample?

Need a Life Coaching Business Plan Sample?

A life coaching business plan sample will help you answer all your questions about how to start your own business. There are many perks of starting and operating a business, but there are also some major challenges. The benefits and challenges must be weighed carefully before making any final decisions. 

Need a Life Coaching Business Plan Sample?

This guide helps you learn how to start your own life coaching business while eliminating any unpleasant surprises. Feel free to go through it as many times as you need for it all to sink in. To make it a realistic sample we have chosen a fictional company X-Life that is going to sell life coaching training services over an online platform.

X-Life’s Life Coaching Business Plan Sample

1. Executive Summary

This business plan outlines X-Life’s operations, strategy, and plans for growth. X -Life provides life coaching training services over an online platform. The company started its operation in January 2021 and is located in New York City, NY. 

Our founders are Elena Monroe (CEO) and Sally Jensen (COO). We have 10 employees today; all of them have experience in marketing or sales. We are at stage two of our three-stage business model. 

Our unique selling proposition lies in offering customers customized training based on their individual situations, needs, and goals. At X-Life, we value customer satisfaction above everything else! To offer highly personalized training, we use technology to its full potential by connecting coaches with clients through videoconferencing technology.

2. Company Overview 

X-Life offers customized training programs designed by experts based on client needs. While other companies offer general advice, we want clients to be confident that they have selected personal growth services based on an understanding of their specific challenges and opportunities. 

We connect individuals with talented life coaches through videoconferencing technology at affordable prices. Elena Monroe (CEO) founded Company X-Life in January 2020 after she had been working as a life coach for more than two years. Her first client was her best friend who came to her for help after ending up in debt due to unemployment, unpaid bills, and medical expenses. Together they managed to get rid of all debts within eight months!

3. Target Market Analysis

Our target market is middle-class, college-educated people with an interest in starting their own business. Middle-class people are more likely to be interested in obtaining additional skills that help them become more productive at work and less stressed outside of work. Life coaching can help one do both. 

Among those who have heard about life coaching, many associate it with personal growth seminars for women or new age gurus who want to make money by providing advice on self-improvement. We want to correct these misconceptions by explaining what life coaching really is: a customized program designed by experts who consider your needs and situation.

4. Market Trends

The life coaching industry is growing and evolving rapidly. According to recent research, there are well over 50,000 life coaches in the United States, with that number expected to grow exponentially over the next few years. 

Traditionally, people sought out face-to-face sessions with a professional coach who offered advice on aspects of their lives such as career choice or financial planning. Today people can seek out online services without even leaving their homes! This new way of doing things makes online training services more accessible than ever before and opens up huge potential for X-Life’s operations to take off as soon as we get our business model right! 

To build X-Life’s brand, we need to be viewed as an expert in life coaching, an industry we are helping evolve by providing highly personal training based on individual needs. We want people who seek out online training services to turn to us first when they decide they want to coach. It is important for us to target not only individuals but also organizations that can use our services as well.

5. Product and Services 

The main offerings of X-Life are customized life coaching plans designed by experts based on client needs. Each coaching plan consists of individual training sessions: 4-6 per month for 6 months, at least one session each week. Each session lasts 30 minutes and is conducted online through video-conferencing technology. A typical session begins with an initial conversation where clients describe their current situation, goals, hopes, and concerns about their future.

6. Marketing and Sales 

X-Life’s marketing and sales strategy is designed to convince potential clients that we are an expert in life coaching and that our approach can help them reach their goals. We do so through direct advertising, social media campaigns, and word of mouth. To reach our target market, we advertise on television shows in which educated professionals participate (such as The Big Bang Theory). We will also seek out word of mouth by offering personal sessions at little or no cost to those who refer friends or family members who sign up for coaching.

7. Sales Forecast

Our sales forecasts depend largely on how many clients we can attract and convert into paying customers. We have analyzed data from other companies in our industry and have concluded that each client will pay $200 for each coaching plan. 

As of January 2022, we estimate that there are 35 million people in the United States who will be interested in online life coaching services. We expect an average of 0.1% of those people to sign up for life coaching plans offered by X-Life. This would bring in 3,500 clients per year, which at $200/client would bring us approximately $450,000 of revenue. Although such numbers might seem insignificant compared to large corporations like IBM or Boeing, they would more than meet expectations given our initial investment capital.

8. Funding 

The main source of funding for X-Life’s business operations is government loan/grant programs intended to support small businesses and promote job growth. We have applied for, and are expecting to receive, a $500,000 government grant by December 2022. This money will go directly towards startup expenses: we need to hire employees, pay leases on office space and equipment, purchase all furniture, and supplies necessary for operations, etc.

Final Remarks about Life Coaching Business Plan Sample

Life coaching business plan samples are a good place for anyone interested in starting their own life coaching service to start. We strongly encourage you to use these sample plans as guidelines for writing your own unique and complete life coaching business plan. As with any other important business documents such as company profiles or industry reports, it is vital that you write your own unique strategy so that potential investors can identify exactly what kind of company you want to run and how it will be managed.

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

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Open the Door to Success with Life Coaching!

Open the Door to Success with Life Coaching!

Are you wondering what will open the door to success for your clients or organization? Then life coaching may be exactly what you are looking for. Life coaching allows individuals, groups, and organizations to clarify goals, maximize their potential and live a fulfilled life through professional and personal development. Life Coaching allows them (or us) to achieve their potential. However, there are very specific steps that need to be taken before our potential can be fully realized.

Open the Door to Success with Life Coaching!

Steps to Help You Open the Door to Success 

There are a variety of actions that need to take place when pursuing your goals. Follow these steps to help ensure that your goals get accomplished and that you enjoy a successful future.

1. Determine Specific Goals 

To pursue specific goals, we must first identify them. The problem with many individuals is that they just don’t know what they want. If you are constantly being told by others what you should do in life, then chances are good that you aren’t living up to your potential. Once an individual has identified their primary goal or goal(s), they can move on to step 2.

2. Break Down Your Goals 

Once a goal has been identified and verified as realistic, it needs to be broken down into several sub-goals. There are many reasons for doing so, but one of the main reasons is that in doing so, we can focus on each individual goal rather than trying to accomplish them all at once. 

If you try to pursue all your goals at once, you will most likely not get anything accomplished because you will end up focusing on how much there still is left to do rather than doing something that can move your progress forward. 

Breaking down these goals also allows us to check our progress when working towards achieving them. There are many ways we can break these goals down further, however identifying specific action steps towards achieving each of them can be an easy way for anyone to begin seeing progress in their future success.

3. Create a Plan of Action 

The next step that opens the door to success through life coaching will be to create a plan of action for each sub-goal. In doing so, we can visually see where we are heading and how much progress has been made. 

When creating these plans, it is important to identify what you specifically want to achieve and write down steps that will guide you towards accomplishing these goals. One thing that many individuals fail to do when they write their plan of action is assigning deadlines for accomplishing these steps. 

By doing so, you are helping yourself stay on track and ensuring that each goal becomes accomplished at its own pace; instead of trying to rush through everything all at once.

4. Create Accountability 

When creating accountability in our lives, it is important to remember that we are all accountable for our own actions. We cannot control others and must focus on being responsible for our actions. 

A great way to create accountability in your life coaching goals is by seeking out a mentor who will assist you in achieving your goals. 

The most important thing about doing so is that you find someone who will be honest with you about where your weaknesses lie and help guide you through obstacles along your path to success. This can greatly improve your chances of success.

5. Seek Support 

It’s good to seek support from coaches who are close to us, but it can also be beneficial to seek support from those we have never met before. As long as you make wise decisions when looking for your sources of support, then you should be able to achieve great things through your goals, including a successful future!

6. Visualize Your Success 

The next step in creating a successful future will involve being able to visualize your success. You cannot become what you cannot see so visualizing your success can help keep you motivated and continue pursuing what you have set out to accomplish. 

The best way to start visualizing your success is by creating an image in your mind about where you want to end up and what living that life looks like for you personally as a coach.

You Hold the Key to Success, Just Unlock the Door..

Doors to success open for all those who are ready to embrace them. However, for you to get through the door of success, you will need a master key that consists of a plan of action, as well as support and accountability among other factors. These factors have been discussed in more detail above and can be applied using a life coach. 

Asking others for help when trying to accomplish your goals is much easier than doing everything on your own and that having someone hold you accountable for your actions can lead you towards new heights of success.

In fact, while we are all fully responsible for our own actions, we also must remember that at some point everyone needs help or assistance with something if they want to achieve greatness.

SPECIAL BONUSIf 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.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

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