Transforming Lives LLC: A Sample Coaching Business Plan

Are you looking for a sample coaching business plan? Then you have come to the right place because we are going to share with you an example of a coaching business plan to enable you to craft your own business plan. This sample business plan is going to save a lot of your valuable time and money. Remember, there are also a lot of sample coaching business plans available on the Internet that you can refer to. 

The following sample coaching business plan for the fictional firm, “Transforming Lives LLC” is an example of what a coaching business plan might look like.

Let’s get started.

A Sample Coaching Business Plan

Transforming Lives LLC’s business plan consists of the following key components:

1. Executive Summary

Objectives

  • To acquire a personal premise for our business by October 2021.
  • To hire two certified life coaches by October 2021.
  • To acquire at least 100 clients by the end of December 2021.

Mission Statement

To provide life coaching, counseling, and guidance services to a diverse client base and transform their lives.

2. About Us

Transforming Lives LLC will operate in Las Vegas, Nevada, starting on June 01, 2021. Our business intends to provide the most effective solutions to the personal and professional problems of our clients. 

Transforming Lives LLC is a privately held C corporation owned in majority by its founder, Philip Cross. There are two other partners, including one public relation consultant, Jack Thompson and one attorney, Paul Schulman. Neither owns more than 20%, but both are active participants in management decisions.

3. Operating Location

We have one location—a 5,000 square-foot brick and mortar facility located in a suburban shopping center conveniently close to the downtown area. It includes a training and sales area, service department, and offices.

4. Services and Pricing

Transforming Lives LLC will provide life, career, and business coaching services. Clients will be charged on a per session or monthly basis. The price per session will be $100/hr whereas the company will charge $500 monthly if a client chooses a monthly pricing plan.

5. Target Market

The company will target individuals all across Las Vegas who need life, career, and business coaching services.

6. Competition

The company’s main competitors are:

Life Coaching Company – This company is an established coaching firm that has been operating for the past 10 years. It has a huge client base and is known for offering unique coaching facilities and affordable prices. 

Coaching for All Company – This company is well-reputed among the upper-class strata of the city and mainly targets businesspersons, professionals, and celebrities.

7. SWOT Analysis

Here’s an overview of our SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis:

Strengths

  • Affordable prices
  • Dynamic, innovative, and modern coaching techniques and strategies

Weaknesses

  • New to the Las Vegas’s coaching market
  • No clientele

Opportunities

  • Ever-increasing need for life coaches
  • Affordable and easy marketing strategies

Threats

  • Established coaching companies in the market with established clientele
  • Clients prefer experienced and established coaching companies

8. Marketing Plan & Strategy

We strive to build long-term relationships with clients, not single-transaction deals with customers. Our goal is to become their go-to coaching firm and make them understand the value of the relationship.

Our marketing plan consists of two phases. The first phase will be creating accounts on social media platforms that the target market most commonly uses. The second phase will be starting promotional campaigns such as rolling out promotional materials via our website, YouTube channel and email newsletters.

9. Financial Plan

Transforming Lives LLC will incur the following start-up costs:

  • Desk, chair and file cabinet
  • Fax machine, copier, telephone line
  • Computer with printer and Internet connection
  • Legal fees for business formation

Our total start-up cost is $23,000.

Projected Profit and Loss

Year 2021 – $3500

Year 2022 – $60,000

Year 2023 – $95,000

 

Projected Balance Sheet

Year 2021

Total Assets – $24,000

Total Liabilities – $20,000

Year 2022

Total Assets – $40,000

Total Liabilities –$26,000

Year 2023

Total Assets – $29,000

Total Liabilities – $15,000

Projected Cash Flow

Year 2021 – $22,000

Year 2022 – $39,000

Year 2023 – $30,000

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

How to Develop a Life Coach Marketing Plan

How to Develop a Life Coach Marketing Plan

If you’re thinking about developing a marketing program for your coaching business, you need to begin with a life coach marketing plan. Some life coach marketing plans are short and to the point, others are hundreds of pages thick and cost thousands of dollars to produce.

Regardless of the scope of your marketing plan, you must keep in mind that it is a fluid document. Every business needs to have a well-structured plan that is based on thorough research, competitive positioning and attainable outcomes. Your plan should be the basis for your activities over the coming months. However, you should always be willing to enhance or redirect your plan based on what produces results.

Life Coach Marketing Plan Basics

The following are a few things that you should keep in mind when developing a life coach marketing plan

  • Market Research

Collect, organize, and write down data about the market that is currently buying the coaching product(s) or service(s) you will sell. Some areas to consider include:

  • Market trends, patterns, and dynamics
  • Customer’s taste and preference
  • Popular coaching products and services that are trending
  • Demand and supply
  • Competition in your coaching industry
  • The current state of the coaching industry

If you analyze all of the above, you’ll be able to create a good marketing plan.

  • Target Market

Once you’ve done a thorough market research, find a niche or target market for your coaching products or services and write a description about them.

  • Products/Services

When creating your coaching products or services, ask yourself these questions: How does your product relate to the market? What does your market need, what do they currently use, what do they desire above and beyond current use?

  • Competition

There is always competition in the coaching market, hence you need to develop a unique selling proposition, i.e., doing something different from your competitors to stand apart from the crowd.

  • Market Strategies

A marketing plan is all about promoting your life coaching business. You must write down all your promotion strategies and marketing strategies in your marketing plan. There are various strategies that you should consider:

  • Advertising – print media, radio, television, magazines
  • Networking – go where your market is, e.g., coaching seminars, events, or parties
  • Direct marketing – brochures, flyers, sales letters, newsletters
  • Website – blogs, videos, social media
  • Write articles, give advice and become known as a coaching expert

 

  • Pricing

From the information you’ve collected, determine the price of your products or services. Set a fair price according to market trends and what your target market is willing to pay.

  • Budget

Budgeting is very important in any marketing plan. A budget will decide what marketing strategies you can afford, how you can advertise your service, what you can do in house and what you need to outsource.

  • Marketing Goals

Define your marketing goals in your marketing plan. Marketing goals are your targets that you want to achieve. For example, as a life coach you want to gain 30 new clients per month, or you want to satisfy all of your old clients with your services. Goals can be anything, but you should work hard to achieve them.

  • Monitor Your Results

A life coach marketing plan is nothing without proper monitoring. You must analyze whether your strategies and plans are working or not. You have to decide whether your old plans are good enough to achieve your goals, or you have to create new ones.

By taking into account the above, you are in a much better position to promote and sell your coaching product or service. Successful coaches continually review the status of their campaigns against their set objectives. This ensures ongoing improvements to your marketing initiatives and helps with future planning.

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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