How to Write a Simple Coaching Business Plan

How to Write a Simple Coaching Business Plan

Think you have a great idea for a business and need to draft a simple coaching business plan? You’ve probably come across simple coaching business plans on the Internet but you may not have the time to read them all. The coaching business plan template presented here will get you started.

How to Write a Simple Coaching Business Plan

It outlines five most important sections of a business plan and can serve as the blueprint to help you write a simple coaching business plan.

Five Elements of a Simple Coaching Business Plan

Background 

In this section, you’ll want to compose a little story to tell people about your coaching business and what you offer. Ask yourself these questions:

  1. What need are you serving and why is it important to the world right now? 
  2. Is your coaching field growing or shrinking? Is the need for your service likely to grow or decline over the next 5-10 years? 
  3. What is your reach and what is the potential for your business in terms of numbers? 
  4. What is the profile of your most likely clients? Is it men, women,or children? What are their ages? 

After you’ve figured out the answers to the questions above, outline your personal qualifications, training and education that will support you in serving your clients. Also list any soft skills, coaching philosophies or beliefs you have that will help you serve your clients. This is the place to tell your readers what makes you great at what you do.

Vision and Mission

A vision is something that just gets you moving in the right direction. It may be so ambitious that you never actually get there, but it will lay out a path for you. A good vision is inspiring, focuses on serving the world, and is very ambitious. Try and develop a vision as you would like it if you could serve every single person who needs your coaching services. Capture what the world would be like if you could do this in simple 3-5 sentences. 

For example, “A world where every person is living their life to the fullest.”

A mission on the other hand is about your purpose and your part in changing it. Capture how you’ll serve people, and what your role in delivering the vision will be. 

For example, “Helping people discover their life potential and supporting them in making changes to bring this potential into the world.”

Marketing and Communication Plan

It’s essential that you give some thought as to how you’ll communicate your vision and mission to others. Instead of “marketing” your services, think of it as “sharing your message.” You already know that what you can offer your target market is of value and that it needs you. Write how you’ll communicate to those that need you most and how you’ll help them. Before you devise a marketing and communication plan, ask yourself these questions:

  1. Who needs to hear my message? What groups do I need to serve most?
  2. What do they need to hear from me?
  3. What is the best way to find and communicate with them? Do they communicate online? Or In person? Workshops, webinars, etc?
  4. When will you communicate with them? Will you reach out to them daily? Hold workshops once a month? Send out a weekly newsletter?
  5. How will you know if they have heard your message? 
  6. What will success look like? What are your marketing and sales goals or targets for this year and the coming two years?

Risks and Opportunities

Sometimes things might not go according to your plan, therefore it’s prudent to spend just a bit of time thinking about the areas that may go wrong and devise a corrective action plan or a Plan B to limit the damage.Likewise, it’s a good idea to think about any opportunities that you haven’t thought about yet so that you don’t miss any good ideas along the way. 

Financial Plan

Having an idea of what you need to make in terms of income to continue coaching others and help change their lives is essential to delivering your vision. And in this day and age, any business that is not growing or evolving is dying. There is no standing still! So this section details how you’ll sustain your financial viability, and how you’ll grow your business.

Special Bonus – Learn 3 simple ways to become a life coach with the “30-Days to Become a Coach” video toolkit when you fill in the form at the top right and click the “Watch The Videos Now” button. You’ll learn how to change your client’s life in 45 minutes.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

A Sample Business Plan for Life Coaching

A Sample Business Plan for Life Coaching

Business plans guide you along the rocky journey of growing a coaching company and referencing a sample business plan for life coaching throughout your voyage will keep you on the path toward success.

A Sample Business Plan for Life Coaching

There are plenty of sample business plans for life coaches on the Internet but how do you actually write a viable and convincing business plan?

Let’s review a sample business plan for life coaching you can use to inspire your own.

A Sample Business Plan for Life Coaching: Youth Alive Corp

Executive Summary
Youth Alive is a new company providing high-level expertise in youth life coaching, channel development, distribution strategies, and marketing of coaching products. Its founders are certified life coaches. They are founding Youth Alive to formalize the coaching services they offer.

Initial focus will be development in the American market, or for clients in the Latin American market. As it grows it will take on people and coaching work in related markets, such as the United Kingdom market, and similar markets.

Mission
Youth Alive Corp offers students and young professionals reliable, high-quality life coaching services for personal development and career development on an international scale. We offer a very high level of practical coaching experience, know-how and confidentiality.

Company Ownership
Youth Alive Corp will be created as a Limited Company based in Florida, USA, owned by its
principal investors, Alice Smith and Melanie Adams.

Management Team
Alice Smith is the founder and owner of Youth Alive Corp. She will serve as the managing director, and is therefore responsible for all of the company’s operations as well as its chief fiduciary. Ms. Smith has spent her entire professional career in youth coaching and development.

Melanie Adams will serve as the company’s Program Director and will develop the company’s coaching programs. She will lead the learning sessions on-site and online. A native of Colombia, she is a dedicated, positive and outgoing life coach who has been extensively trained in youth development and education.

We will be hiring two course administrators, five full-time life coaches to conduct on-site or online coaching classes and workshops and two content developers to develop our website.

Start-up Summary
Total start-up expense (including legal fees, logo design, website development, stationery and related expenses) is $65,350. Start-up assets required include $130,000 in current assets (office furniture and equipment, course development,etc) and $100,000 in initial cash to handle the first few months of coaching operations as sales and accounts receivable come in.

Products and Services
Youth Alive offers youth coaching courses and workshops as well as the expertise an organization needs to develop new coaching products and services in new markets. This can be taken as high-level retainer coaching, project consulting, online workshops, coaching courses and publications and youth camps.

Market Analysis
Our most important group of potential clients are students, young professionals in larger corporations and organizations or universities interested in developing white-label coaching solutions.

There are thousands of coaching organizations and individual coaches for every one of the few dozen well-known companies in the United States.One of Youth Alive’s challenges will be establishing itself as a real coaching company, positioned as a relatively risk-free alternative.

The key element in purchase decisions made at the Youth Alive client level is trust in the professional reputation, track record and reliability of our company. Youth Alive positions itself as the most obvious choice in terms of service quality, price and convenience and this will be attractive to youths in the United States and Latin America.

Promotion
We intend to promote our organization and our unique value proposition on an ongoing basis via the following channels:

Internet marketing -This strategy consists of a well-designed, professional website that is informative, client-oriented and “sells” Youth Alive, reinforcing our value proposition of quality, price and convenience.

Open house sessions -Twice a year, we will host an “open house” and / or a “meet and greet” at select area locations where parents congregate and at our center. We will promote new youth coaching programs and give away free sample courses.

Financial Plan
The following is the projected profit and loss for the next three years. Detailed break even analysis, monthly projected cash flow numbers and projected balance sheet are included in the appendix.

Year Annual Profits
2021 $120,000
2022 $180,000
2023 $350,000

To learn more about how to generate an endless wave of high paying coaching clients, get your FREE Instant Access to our “Life Coaching Business Blueprint” video toolkit when you go HERE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

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