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A Sample Business Plan for Career Coach Business

Are you looking for a sample business plan for career coach business? The Internet is full of sample business plans. However, shifting through the available ones to find a format that suits a career coaching business can be challenging. 

A Sample Business Plan for Career Coach Business

Here is a sample business plan for a fictional career coaching company ‘Upward LLC,’ that you can use to create your own and save valuable time.

Upward LLC – Sample business plan for career coach business

The Upward LLC’s business plan consists of the following key elements:

Section 1: Executive Summary

Upward LLC is a minority-owned (female) career coaching company based in New York City with over ten years of work experience in the career coaching industry. Our primary purpose is to provide high-quality, value-added career coaching solutions to IT and Tech industry professionals. 

Our team consists of high-performing people equipped to deliver exceptional results. In pursuit of excellence, we have formed strategic partnerships with other players in the industry based on shared goals and values to ensure that our clients receive only the best. 

Section 2: Company Overview

Our Vision: To be the strategic partner of choice, inspiring people to realize their full potential personally and in their chosen careers

Our Mission: To transform lives by leveraging technology to provide career coaching services that propel IT and tech professionals to success.

Our Objectives:

  1. To increase the client base to 100 by June 2023
  2. To hire two more in-house life coaches by January 2023

Note: This is a sample business plan for career coach business. Thus, your company’s vision, mission, and objectives will vary according to your type of business.

Section 3: Product and Services

We guide professionals to receive greater fulfillment in their careers by establishing goals, creating a plan with strategies to achieve the goals, and overcoming any obstacles that are on the way. Specifically, we offer career planning, leadership training, and mentoring services. 

Section 4: Industry Analysis

Career coaching is a billion-dollar industry valued at $20 billion, with a total market value of $7.5 billion in the United States. The market value is estimated to reach $30 billion by 2025, with an average annual growth rate of 6.7 percent from 2019 to 2022. 

Section 5: Customer Analysis 

Upward LLC seeks to serve Millennials interested in building careers in the IT and Tech Industry. Their needs are primarily to find jobs that offer the flexibility needed to achieve the ultimate work-life balance. Drivers of these clients’ decisions are not the salary amount offered but shared values and job satisfaction. 

Section 6: Competition Analysis

Our main competitors are Careernetics and Technocareer, which have also been in operation for more than ten years, offering career coaching services. However, they provide services to many professionals, spreading them thin. With the digital age, careers in IT and Tech are the in-demand skills, and we want to capitalize on this market.

Section 7: Market Strategy

To reach our target market (Millennials), we will use online advertising, social media posts, and word of mouth. We aim to build long-lasting relationships based on trust and the provision of high-quality services.

Section 8: Management Team

Our management team consists of Mary Adams, the Founder and CEO, Jeryy Sam, the Chief Financial Officer, and Sam Mackinnon, the HR Manager. Mary has extensive training in career coaching and is a highly experienced executive coach.

Section 10: Financial Plan

Projected Profit and Loss:

  • Year 2022 – $5,000
  • Year 2023 – $50,000
  • Year 2024 – $105,000

Conclusion

You can find numerous sample business plans for career coaches online. Use the sample mentioned to create one that will help you successfully launch and 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 Career Coaching Business Plan Sample

It’s always easier to write something if you can read an example first, so here’s a career coaching business plan sample that you can use as a model for your own business plan. Every venture starts with the first steps and a career coaching business plan is no exception. Well thought out first steps, properly implemented, will pay dividends in the business operations of your coaching business in later years. 

A Career Coaching Business Plan Sample

Executive Success Coaching Inc – A Career Coaching Business Plan Sample 

Please note that “Executive Success Coaching Inc.” is a fictional coaching business invented for this career coaching business plan sample. You may also find business plan templates online or request career coaching business plan samples from coaches who provide them.

Executive Summary

This is the plan for a new business, Executive Success Coaching Inc., by James Ward and Terry Jones, to be started locally at Valley Estate in California. The mission of Executive Success Coaching Inc. is to offer affordable, convenient career coaching services to business leaders and executives in Valley Estate.

In order to offer clients the most affordable service, Executive Success Coaching Inc. will utilize professional career coaches who are certified and have the personal experience and knowledge to provide the service. They will have a personal background that will enable them to help the customers and enable them to achieve their own career goals. 

Career coaching training will be offered at our training center in Valley Estate, at the client site or online. By providing low-cost, flexible online, and on-site options, we expect to attract a large career-oriented demographic and residents who are ready to work hard on their career goals.

To reach clients, we will primarily utilize our website, social media, and word of mouth methods. Executive Success Coaching Inc. will be unique in its approach towards using certified professional career coaches who will also offer personal coaching to clients who prefer such service. Executive Success Coaching Inc. will be structured as a partnership between James Ward and Terry Jones. This means that Executive Success Coaching Inc. will be a very low-cost, simple company, allowing it to grow quickly and inexpensively. The objective is to become profitable within the first three months and to grow at a quick but manageable pace.

Our Mission

Executive Success Coaching Inc. will provide only the highest quality, career coaching services to business leaders and executives in an environment that is safe, comfortable, and attractive and will encourage clients to make repeat visits.

The Company and Management

Executive Success Coaching Inc. is headquartered and incorporated in California. The company is owned by partners James Ward and Terry Jones. James has extensive experience in career coaching while Terry has worked in sales and marketing for 15 years.

The management of Executive Success Coaching Inc. consists of co-owners James Ward and Terry Jones. Both partners will be taking active management roles in the company. We have also assembled a board of advisors to provide management expertise. The advisors are:

  1. Sue Brown, partner at Brown Accounting LLP
  2. Casey Hall, founder at Hall Communications Ltd.

Our Services

Executive Success Coaching Inc.’s service is simple, yet versatile. Clients may purchase one-hour or customized career coaching sessions. During each session, the client and coach are free to use the time as they see fit. For example, an introductory session may be spent mostly discussing career goals and composing a plan for reaching these goals whereas later sessions may be spent entirely on coaching. Executive Success Coaching Inc.’s coaches are selected from professional coaches who have extensive experience in career coaching. These coaches have certification or experience in coaching and they have the knowledge to help clients excel at their workplaces. 

The Market

Across California, the career coaching business has seen an explosion of growth over the last three years. Valley Estate is an affluent area with a high executive density. Our market research has shown that nine out of 10 executives polled in Valley Estate are ambitious and would want to grow their careers within the next five years. Six out of 10 would consider having a career coach.

Marketing Strategy

Already we have service commitments from over 30 clients and plan to aggressively build our client base through our website and social media. The on-site or online professional service that Executive Success Coaching Inc. will provide is sure to appeal to business leaders and executives throughout the Valley Estate area. Our marketing activities include the following:

  • Constant Internet support and blogging.
  • Email advertising to current clients and potential leads.
  • Free coaching tips or sample sessions via our newsletters and blog to grow community awareness and new clients.
  • Joining business groups, the Rotary Club and other local groups.
  • Participation in career and charity events.

These activities will help create an initial interest in the new company. Executive Success Coaching Inc. coaches will also be required to wear their Executive Success Coaching Inc. T-shirts when they coach.

Financial Projections

Based on the size of our market and our defined market area, our sales projections for the first year are $250,000. We project a growth rate of 10% per year for the first three years.

The salary for each of the co-owners will be $10,000. On startup we will have five certified coaches to provide career coaching services and expect to hire four more this year once financing is secured. To begin with, co-owner James Ward will be scheduling appointments and coordinating services, but we plan to hire a full-time receptionist this year as well.

Start-up Financing Requirements

We are seeking an operating line of $100,000 to finance our first-year growth. Together, the co-owners have invested $50,000 to meet working capital requirements.

By the way… you’re invited to claim your FREE step-by-step “ Master Coach Blueprint” video toolkit. Just go HERE now to get your master coach blueprint videos.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Why You Need a Life Coach Time Business Plan

If you’re a life coach, time is one of your most precious resources; therefore, it’s important to have a life coach time business plan in place! In this blog post, we will discuss the importance and benefits of time management for coaches, components of a time business plan, and how to prioritize tasks.

Why You Need a Life Coach Time Business Plan

Benefits of time management for coaches 

You’ve probably heard of the saying, “Time is money”. This saying simply means that once time is past, you can never get that time back nor can you add more hours to a day. In business, poor time management can cost you and your business tremendous amounts of money. Life coach time business plans serve as a guide for working smarter instead of harder. With a life coach time business plan, you will:

  1. Improve productivity and efficiency: When you manage your time wisely, you can get more done in less time! This leads to improved productivity and efficiency in your coaching business.
  2. Increase client satisfaction: When you’re able to meet deadlines and deliver results on time, your clients will be happy with the service you’re providing. They’ll be more likely to recommend you to others and continue working with you in the future.
  3. Have better work/life balance: If you’re able to manage your time effectively, you’ll have more free time for yourself outside of work. This can lead to a better work/life balance and a happier life overall!

Components of a life coach time business plan 

There are several key components of a life coach time business plan:

  • Definition of goals: What do you want to achieve with your time business plan? What are your goals for your coaching business? Be specific and realistic in your goal setting.
  • Action steps: Once you’ve defined your goals, it’s time to develop a plan of action. What steps will you need to take to achieve your goals? Make sure each action step is measurable so you can track your progress.
  • Timeframe: How long do you realistically think it will take to achieve your goals? Set a timeframe for each goal and make sure it’s achievable.
  • Evaluation: How will you know if you’re on track or if something needs to be changed in your plan? Set up regular check-ins and evaluations to ensure that you’re making progress towards your goals.

Tips on how to prioritize your tasks 

Managing your time efficiently does not only include coaching sessions with clients but also planning and preparing for those sessions, as well as taking care of administrative tasks. Prioritizing tasks is a key part of time management, and can help you make the most of your time. Here are five tips on how to prioritize tasks:

Tip # 1: Make a list of everything that needs to be done

This may seem like an obvious first step, but it’s important to get all of your tasks down on paper (or in your electronic device of choice). This will give you a good overview of what needs to be done and will help you to start prioritizing.

Tip # 2: Break down big tasks into smaller ones

If you have a task that is particularly large or daunting, break it down into smaller, more manageable pieces. This will make the task seem less overwhelming and will help you to focus on each individual part.

Tip # 3: Prioritize based on importance and urgency

Some tasks are more important than others, and some have a deadline that is sooner than others. Prioritizing based on both of these factors will help you to ensure that the most important tasks are completed first.

Tip #4: Consider your energy levels

When you’re planning your day or week, take into account your energy levels. If you know you’re going to be tired after work, schedule easier or less important tasks for that time. Save the more challenging tasks for when you know you’ll have more energy.

Tip #5: Build in some flexibility

Life can be unpredictable and things don’t always go according to plan. Build some flexibility into your schedule so that if something comes up, you can easily adjust your plans.

By following these tips, you can start to prioritize your tasks and make the most of your time as a life coach.

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

A Sample Business Plan for a Life Coach Going Solo

This article outlines a sample business plan for a life coach planning to start a sole proprietorship. Many people would like to start this business but they do not know how to go about it. By looking at this sample or other sample business plans for life coaches, you will know what to do and kickstart your life coach business.

A Sample Business Plan for a Life Coach Going Solo

Sample Business Plan for a Life Coach: Highrise Life Coaching Center

EXECUTIVE SUMMARY 

Offering life coaching services for individuals and businesses, Megan Bishop has achieved a successful path of her own. From business owner to speaker, from blogger to published writer, and from high school teacher to life coach, Megan is always reaching for new goals that inspire her. 

She offers thoughts and techniques on how others can find their own paths as well, using goal setting, motivation and accountability in order to help others achieve deep inner peace. Megan is the owner of Highrise Life Coaching Center.

OBJECTIVES

  • To help people improve their lives or perform better in their careers.
  • To help people eliminate or manage their depression and help them develop ways to enjoy life again.
  • To help people solve problems about their finances and provide them with solutions that will help them attain peace of mind.
  • To guide young people and adults on how to have healthy relationships that won’t compromise their mental health. 

MARKETING STRATEGY

Megan plans to advertise on local community online websites and forums. She will also be posting flyers in local businesses, putting her handouts at local chiropractic offices, doctors’ offices, personal trainer facilities and more. She will also promote her business through social media such as Facebook, Yelp, Twitter, Instagram and many more. Family members and friends will help spread the word about her business as well. To get the most clients, Megan plans to have as many networking events that she can manage/attend. There are always events going on throughout the month such as chamber of commerce meetings, exercise classes, etc.

TARGET MARKET

Highrise Life Coaching Center will provide five different types of one-on-one coaching packages to any person 15 to 65 years of age in the greater Seattle area who is seeking help with personal or professional development issues such as goal setting, time management, stress reduction, etc. The target market is large enough to support Megan’s coaching business. Even if she serves only 25 clients per month, she will earn an extra $7500 per year in gross revenue from the services she provides.

OPERATIONS AND MANAGEMENT

Since Megan’s life coach training center is a sole proprietorship, she will be operating the center herself. She will receive calls in her office through a 2-line telephone system. She will use high-speed Internet, free voice-over-Internet protocol phone service or cellular phone, laptop computer and fax service for communication with other people.

FINANCIAL PLAN

Highrise Life Coaching Center will get its startup funds from the Bank of America Community Development Program which supports businesses predominantly owned by women and people of color. 

Megan’s coaching program fits this requirement as her initial clients will be life coaches, some of whom are women business owners. The Bank of America’s funding will be used to help Megan with marketing and promotion, the establishment of a website for her life coaching center, and for printing costs for business cards and letterhead that will promote both Megan individually as well as her new training center.

BUDGET 

Advertising in local newspapers: $200/month

Advertising on local radio and TV stations: $400/month

Public speaking engagements: $50 per engagement

Flyers: $100 for initial printing costs

Grand opening event: $250

TOTAL MONTHLY BUDGET: $1000/month

Conclusion

This sample business plan for a life coach planning to start a sole proprietorship entails all the essential elements that a small business could have. However, it is crucial to do a thorough research before starting your coaching business.

By the way… you’re invited to claim your FREE step-by-step “30-Days to Become a Coach” video toolkit. Just go HERE now to get your 30-day coaching blueprint videos.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

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

Get Inspired and Write a Career Coach Business Plan

Developing a career coach business plan is the first step for career coaches looking to start their career coaching practice business. Well-thought-out career coach business plans, when properly implemented, can reap great rewards in the future. 

Get Inspired and Write a Career Coach Business Plan

Don’t know how to craft your career coach business plan? There is no need to be worried because we’ve got you covered. In today’s post, we are going to guide you on how you can write a business plan for your newly established career coaching business.

Important Elements of a Career Coach Business Plan 

Creating a business plan shouldn’t be a daunting task. This simple following will help you gather all the necessary pieces to begin successfully. Let’s get started.

 

Have a clear mission

A mission is basically a 1-2 sentence motto that shows what impact your career coaching business has on the world. To come up with a mission, focus on why your business exists and what it does for others. As a career coach, what is your mission? Is it to help remove barriers for people to embark on the career of their dreams, whatever that may be? Or is it to help others choose their career and help them discover the outcomes that they want in their career?

 

When writing a mission statement, keep it simple and don’t overthink it. It doesn’t have to be perfect. One memorable statement will suffice. Set a timer for 10 minutes and when the time is up, move on to your next task.

 

Who is your ideal client?

Clients are the lifeblood of any coaching business, therefore it’s extremely important to know who your ideal client is. An ideal client is the dream customer that you serve in your business. To find out who your ideal client is, it is important to think beyond demographics. Your ideal client may be a Millennial in their 30s, but if you dig deeper into the day-to-day frustrations, beliefs, mindsets, and lifestyles, this will help you identify and serve them much better.

 

One important thing to note when it comes to identifying who your client is. You may have heard about finding your niche or this saying, “if you try to target everyone, you’ll target no one.” Hence, do not be afraid to choose an ideal client that’s specific and within your niche.

 

Find out what problems are your ideal clients facing

The problems that your ideal client deals with are basically issues that they desperately want solved. Some of the problems may include being stuck in a sunset industry, not getting the salary they want, dissatisfaction or loss of motivation at work, a decreased work-life balance, etc. List down three of their biggest problems that keep them up at night.

 

To solve their problems, you need to offer solutions to their problems and help them envision what their life would be like if their problems were solved.

 

Process

Now that you’ve discovered the problems your ideal client is facing, you need to have a process that leads them to your offer. How are you going to get that ideal client from their problems to your solutions? The process is akin to a dish – you need a few ingredients that will make your dish palatable. Is it your coaching approach? A specific method you’ve developed? A proven framework? Your experience?

 

In the highly competitive coaching market, you likely aren’t the only career coach doing what you do. Take the time to craft your unique value proposition. What makes you stand and what distinguishes your business from others?

 

Marketing Strategies

As entrepreneurs in the 21st century, you have incredible marketing channels at your fingertips, most of which are FREE. Some of the more popular ones are:

 

  • Facebook
  • Instagram
  • Twitter
  • LinkedIn
  • TikTok
  • YouTube
  • Snapchat
  • Pinterest
  • Email marketing
  • Blogs
  • Books and magazines
  • Articles

 

You don’t have to use any of these, and you don’t have to do them all from the get-go. Pro tips: Know where your ideal clients are hanging out online and offline. Also find out how they gather information to solve their problems.

 

Financial Goals

Your next step is to come up with some financial goals. Where do you want your business to be in 5 or 10 years? And don’t just focus on revenue. Think about impact as well. How many executives, managers or CEOs do you want to positively impact? Don’t afraid to dream big here. Here are some examples of how you can come up with your financial goals:

 

1-year

  • $120,000 in revenue, team of 2-3
  • 200 executives, managers or CEOs served

 

5-year

  • $2,500,000 in revenue, team of 50-100
  • 10,000 executives, managers or CEOs served
  • Best-selling career coaching book
  • $20K in scholarship

 

Business plans don’t have to take months or even weeks to complete or be filled with a bunch of business jargons to be useful. All you need to do is balance business acumen with creativity. Now, get started and write your career coach business plan!  

If you’d like to learn how you can get started in Wellness Coaching quickly, check out this FREE step-by-step “ Life Coaching Business Blueprint” video toolkit. Just go Here now to get your Life Coaching Business Blueprint

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

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

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

Increase Your Value & Your Personal Coach Salary

Do you want more control over your personal coach salary? By understanding and increasing the value you provide to your clients, you have the ability to increase the amount of money you can earn.

Although money shouldn’t be the most important factor in coaching career decisions, it has a big impact on our lives. How much money we earn will dictate the lifestyle we enjoy, and how and when we will retire.

Increase Your Personal Coach Salary by Giving Value

Here are five ways to start increasing the value you provide to your clients and ultimately, the personal coach salary that you earn.

Specialize in a new coaching area. Research upcoming trends in the coaching industry or find an area of weakness in the industry and establish yourself as an expert. It may require additional education, training, or certifications, but if you are the go-to coach for all related matters, you become a valuable personal coach.

Make a direct impact on your clients’ lives. The sole purpose of every coach is to make life better for others. Come up with a new way to service your existing client base to create a new income stream. You can also implement new practices that will allow your clients to get the results they desire. Calculate the impact you have on their lives and your value will be evident.

Be professional at all times. Although it sounds like a no-brainer, it can be easy to get caught up in office politics. Rise above the pettiness that can occur when a group of coworkers indulge in office politics. Negative attitudes can significantly lower the production of an organization. Participating in trivial activities can impact your performance as a personal coach and limits your opportunities for advancement.

Do something different. The danger of having a routine is that you do not leave your comfort zone. Playing it safe doesn’t produce the WOW effect. Expand your focus and start taking calculated risks to drastically increase your coaching results. Don’t be afraid to speak up in meetings with your clients and come up with new and different ideas that will bring a fresh approach to achieving their goals.

Know your market value. It’s important to keep abreast of changes in the coaching market. Become familiar with reports and websites that provide updated salary data, know what the competition is getting, and evaluate your company’s coaching fee policies. Armed with this information, you will be better equipped to offer a better coaching package for your clients.

A personal coach’s salary is a complicated subject. Getting paid more money isn’t something that can be accomplished overnight. Most organizations or individuals have a budget for training and development. Put yourself in their shoes for a minute. Is the value you provide to the client worth more or less than other personal coaches in the market? Once you take your emotion out of the salary equation, you can objectively create a plan to start getting paid what you are truly worth.

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

7 Tips for a Business Plan for Coaching Practice

A business plan for coaching practice is essential to business success in the highly competitive coaching industry. If you don’t make one, you start one step behind your competitors. If you create one, you begin at the same starting line; if you write a great one, you might even be started out one step ahead!

Business Plan for Coaching Practice

Business Plan for Coaching – PracticeNopporn Suntornpasert © 123RF.com

Ready, Set, Go to Coaching Success

There are so many different ways you can increase your chances of success as a coach. One of the first steps happens before you even open your doors.

Write a business plan. For coaching practices, or for any type of business, a business plan will serve as a foundational document and a source of inspiration. It provides a handy reference guide as you move forward and gives you a written document on which to base future decisions in your practice.

7 Tips for a Business Plan for Coaching Practice

You’re ready to sit down and start composing a business plan. Oh, where oh where to begin?

Don’t let a temporary case of writers’ block or the inability to find a starting point delay or deter you. Just start! Start in the middle, start in the end, start anywhere!

Here are a few quick suggestions to help you start and finish a business plan.

  • Use a template for a business plan. For coaching practice business plans, don’t expect it to be a breeze. But, when you use a template, you instantly have a framework into which you can put the details of your own unique business. You can find free samples and templates all over the Internet.
  • Give yourself plenty of time. Most people don’t create a good plan in one day. It may take a few days or a few weeks. Give it time and you will come up with something valuable and workable.
  • Focus! Don’t write while doing something else – multitasking isn’t a good thing when writing a plan. Have a quiet space and allot some time to the endeavor.
  • Use an accepted analysis method like SWOT or SOAR. SWOT stands for strengths, weaknesses, opportunities, and threats. SOAR stands for strengths, opportunities, aspirations, and results.
  • Make it comprehensive but not overly long. One page probably won’t make the grade; a forty-page document is mostly likely overkill! A few pages with several sections should suffice for your business plan. For coaching practice plans, sections can include Administrative, Mission Statement, Vision Statement, Values, Target Market, Marketing, Alternate Streams of Income.
  • Ask your peers. If you have good relationships with other coaches, it’s wise to show them a draft of your plan. Experienced coaches can often provide valuable insight as to any missing information or details.
  • Goals matter. Write down some specific goals. When coaching your clients on goals, you may be telling them to create SMART goals. You should do the same in your business plan. For coaching practice plans, SMART goals are: Specific, Measurable, Achievable, Relevant, and Time-bound. A few different goals will serve as motivational tools as you move forward in your coaching career.

Give this strategy a try and see for yourself that it works. If you liked this coaching tip, leave a comment or use the handy bookmark buttons below to share it with others on Facebook, Twitter, Digg, etc. Thanks!

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community