Search Results for: sample business plan for a life coach

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

A Lean Life Coach Business Plan – Free Sample

Are you planning to start a new life coaching business and looking for a lean life coach business plan free sample? If yes, you are on the right platform.

A Lean Life Coach Business Plan – Free Sample

A business plan is the first crucial step you need to take if you are planning to start a new life coaching business. A well-thought-out life coach business plan set you in motion to achieve your goals effortlessly. A lean life coach business plan differs from a standard life coaching business plan. It is a formal document that is precise and to the point. All unimportant and unnecessary details are trimmed off from a detailed business plan so that your business plan contains only the most crucial elements of success.
Lean life coach business plan free sample: Unique Life Coaching
Here is a lean life coach business plan free sample using a fictional company called Unique Life Coaching.

Identity
Unique Life Coaching is a professional and licensed life coaching business. We specialize in assisting people to achieve their personal goals and improve their competencies, capacities, and productivity. The scope of our offerings covers personal improvement coaching, family and relationship coaching, and financial planning.

Problem
The Covid-19 pandemic has severely affected the world economy causing individuals and families to grapple with problems such as unemployment, low incomes, high expenses, and emotional issues.

Our Solution
Our proprietary solution, “Life’s a Beautiful Puzzle” is designed to help individuals fill in all the missing pieces in their life and transform it into a beautiful life. Unique Life Coaching will assemble a team consisting of professional and certified life coaches and financial planners. Our aim is to hire professional coaches with unique skill sets and vast experience. Our team members are driven to professional excellence by their zeal to help people transform their lives. Their vast experience and knowledge of coaching will help us guide clients to achieve their desired outcome through our holistic coaching solution.

Target Market
Our target market is people having issues with their personal, family, and professional life as well as their finances.

The Competition
Our competitors consist of life coaching firms of all sizes. However, our main competitors are ABC Coaching Firm and XYZ Coaching Agency, two coaching companies that have been around the block for more than 10 years. There are also some smaller competitors with a limited scope of offerings.

Revenue Streams
Unique Life Coaching will generate revenue by offering the following coaching services:
Personal improvement coaching
Family and relationship coaching
Financial planning

Marketing Activities
We will hire highly experienced marketing experts to manage marketing strategies. The team will also be trained on a regular basis and conduct the following marketing activities:
Email or mail out introductory letters along with brochures to households and key stakeholders.
Strategically drop flyers and business cards to offices, libraries, other public places, etc.
Print and electronic media advertisements
Social media advertisements
Encourage word of mouth marketing through satisfied clients

Expenses
Our expenses include:
Start-up costs such as course development and business premise
Materials and equipment costs
Business incorporation fees
Liability insurance, permits, and licenses
Website costs
Staff’s salaries for at least 2 to 3 months
Marketing costs
Additional expenses such as business cards, adverts, etc.
Miscellaneous expenses

Milestones
As the coaching business grows, the company will look to establish a branch in a neighboring city as well. Moreover, the company also intends to expand marketing activities to acquire more clients and increase revenue.

The above lean life coaching business plan free sample can be your guide to create your own lean life coaching business plan. There’s no one best plan for all coaching businesses. The best plan for you will depend on many factors, such as whether you have employees or not, what are your expenses, how much time you want to spend administering the plan, etc.

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

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

Should You Use a Sample Life Coach Business Plan?

Should you use a sample life coach business plan or create your own without the help of a template or sample?

 Sample Life Coach Business Plan

Sample Life Coach Business – PlanDenis Ismagilov © 123RF.com

The decision is up to you, and there is no right or wrong answer.

Why Use a Sample Life Coach Business Plan?

Sample business plans are great for reference and structure. Don’t hesitate to use a sample or a template to get your business plan started.

Here are a few reasons to use sample life coach business plans:

  • Writing a business plan can be intimidating. Having a reference to get you through the process is a big help.
  • Sample coaching business plans can be inspiring and motivating.
  • Using samples and templates can give you new ideas – help you discover things you hadn’t thought of before.
  • Plenty of samples are available for free. Many life coaches are starting their practices on a shoestring budget and can’t afford to pay money for business plan creation. They’re in luck! Though some websites are offering sample plans for a fee, there are myriad sample plans all over the Internet.
  • Sample plans help with formatting. Even if you don’t sue any of the content from a sample life coach business plan, just using the formatting and organization as a guide will help expedite the process.
  • The process may be faster when using a sample. You want to take your time when creating a business plan, but you don’t want it to take up too much of your valuable time. Having an available reference can make business plan creation faster and more efficient.
  • Did I mention that there are plenty of free sources online?

Why Should You Create Your Own Business Plan?

Some people would rather create their own coaching business plan without the aid of a sample or template. There are a two good reasons to do it this way:

  • You might be more creative. When some people are following a plan or a sample, their creative spark gets extinguished just a bit. If you are one of those people, then by all means make your own business plan without the help of anyone or anything!
  • When using a sample, there is often the tendency to copy and paste. It’s easy to just copy a complete section when using a sample life coach business plan. However, you only want to copy the format and structure, and get ideas and suggestions from the content.

Each Business Plan I a Unique Founding Document

Your business will be unique. Your business plan should also be unique. It doesn’t matter if you use a sample life coach business plan or create one completely from your imagination, it must be unique to your business and coaching.

Use a Sample Business Plan for Structure Only

My suggestion is to use a sample or template for structure only. Use one as a reference for the categories and headings and then create your own content. This way you won’t waste time on the format and structure and can spend the time making your business plan ideal for your coaching practice.

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.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

3 Sample Business Plan for Life Coaching

Using sample business plans for life coaching is a great way to figure out how to compose your own business plan. Using the work of others can help you get it done faster and can also help you make it better.

Sample Business Plans for Life Coaching

Sample Business Plans for Life Coaching – Le Moal Olivier © 123RF.com

No Copy and Paste Coaching Business Plans

Though it’s a great tool to use sample business plans or templates as guides for your own business plan, it should never be a copy and paste procedure. Sample business plans for life coach practices should be used as a guide or a reference; your business will be unique, and your business plan should be filled with your words, goals, values, mission, and vision. Not someone else’s!

3 Sample Business Plans for Life Coaching

Here are 3 sample life coaching business plans that you can use as a quick guide when composing your own plan.

Sample Coaching Business Plan #1

Company Description

Administrative needs – office space, licenses, permits, bookkeeping software, other hardware and
Software needs.
Business organization – corporation, sole proprietorship, LLC, etc.
SWOT analysis – strengths, weaknesses, opportunities, threats.
Goals

Coaching Description

Values
Vision Statement
Mission Statement

Market Analysis

Target market description
Profile of competitors
Outcomes you can provide your clients
Marketing methods and analysis

Sample Coaching Business Plan #2

This is for a business who might have or plan to have employees in the future.
You can use all the same categories as in business plan #1, but add a section for employees

Coaches

Employees or independent contractors
Hiring practices and methods – interviewing, experience level, background screening, etc.
Compensation

Sample Coaching Business Plan #3

This cab be sub-titled, The Lazy Coaches Guide to Sample Business Plans for Life Coaching.” This is the simplest one I could find.

SWOT Analysis

Determine your strengths, weaknesses, opportunities, and threats.

SOAR Analysis

This is often used instead of SWOT, but for this simple plan, it is used in addition to SWOT. It
Stands for strengths, opportunities, aspirations, and results. It helps to replace goals, values, mission statement, and vision statement.

Life Coaches Need Business Plans

You may think that because you are a one-person shop, a business plan is extraneous and unneeded fluff. Nothing could be further from the truth!

A business plan is a way to anticipate and plan for success; it is also a way to offer a contingency plan in case success isn’t as forthcoming as you hoped for. Sample business plans for life coaching offer insight into what makes for a good business plan – one that can help you build success and prevent failure!

I Promise – It’s Not That Hard to Create a Business Plan

With the use of sample plans and templates, creating a workable business plan is fairly easy. Yes, it will take a little time, a measure of dedication to the task, and a commitment to finishing it. No, it won’t magically appear without some work!

However, it’s not that time consuming, it doesn’t take that much dedication, and the commitment isn’t that burdensome. With the help of a few sample business plans for life coaching, it’s actually quite easy!

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.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

One Simple Sample Life Coaching Business Plan

Looking at a sample life coaching business plan is a great way to start when composing your own coaching business plan. It can be used as a guide and a reference tool to help you write the best plan for your coaching practice.

Sample Life Coaching Business

Sample Life Coaching Business – illustrator © 123RF.com

A Sample Coaching Business Plan is Not Your Business Plan

Though using a sample is recommended when you write a business plan, it is crucial to remember that you don’t just cut and paste when writing your plan. A sample is merely a guide and should not be modified with a few simple changes and used as your own.
Your life coaching business is unique and your life coaching business plan should also be unique!

A Sample Life Coaching Business Plan

Here is a simple sample life coach business plan which can be used to help you write your own business plan:

Administrative

My coaching business will be set up as an LLC. I will be the only coach but will be open to hiring other coaches to work for me as the business grows. I will be a general life coach who specializes in working with millennials.

Mission Statement

To provide coaching to millennials that inspires and motivates them to reach their potential, both in their careers and in their personal lives. I will do this through one-on-one coaching, group coaching, and webinars.

Vision Statement

For all my clients to reach their full, self-actualized potential so they can prosper and grow as people, and live an abundant and happy life. For my business, I hope to earn a reputation as a caring, honest, ethical coach who has provided desirable outcomes for his clients.

Values

Ethical, honest, hungry for knowledge and continuing education, impactful, creative and an outside-the-box thinker, and empathetic (Every sample life coaching business plan will have different values and your business plan should have a longer list).

Target Market

The target market is millennials. The size of the market is large enough in my geographical area to support my services. Also, the median income of millennials is XXXX, which is high enough to have enough disposable income to support my fees.

Fees and Packages

I will charge XXX per hour. I will offer a free consultation. I will offer packages at XXX per month for XX sessions. I will also offer group coaching at XX per hour.

Marketing and Promotion

I will begin by having a professional designed website, I will use a list building service and create an online newsletter to be mailed out weekly. I will design a customized social media marketing campaign and not spend more than XX per month to begin. I will allow for future expansion of this campaign, and will also volunteer to coach for specific groups and attend functions to increase my network visibility. (If the sample life coaching business plan you are looking at doesn’t have a marketing section, move on to the next one!).

SWOT

(Every sample life coaching business plan should have a section similar to this, though it might be called something else)

Strengths: Empathetic, Trained, Great listener, excellent interviewing skills.

Weaknesses: Inexperience – beginner coach, not skilled at marketing.

Opportunities: A decent amount of life coaches in my area, but none have strong brands or well-known reputations, other streams of income (skilled at writing and can author articles and eventually a book), known in my community and can use my networks as a marketing tool.

Threats: A decent amount of life coaches in the area and a strong price competition keeps fees low, concern over the current political climate and possible economic ramifications from the chaos.

This simple sample life coaching business plan will give you a start. Don’t copy and paste, do the research necessary to paint a vivid portrait of your business and its environment, and take time to write an enduring founding document that you can use as a reference guide for as long as you own your life coaching business.

Hope you took some great value out of this post today! I’d love to hear your feedback, so make sure you leave a comment with your thoughts or questions. And also, you can click on the Twitter button below to retweet this article… Thank you!

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

The Ideal Life Coach Business Plan Sample

If you are a life coach, you need a life coach business plan – sample what others have done and create one that fits your business. Every business needs a business plan. As coaching gets more competitive, a well-written business plans will be one of the keys to success.

Don’t fall behind your competition before you even start! Don’t fail before you even have a chance to succeed! Create your own unique business plan from looking at samples from other similar businesses.

Life Coach Business Plan Sample

Life Coach Business Plan Sample

Where Do You Find a Life Coach Business Plan Sample?

Life coach business plan samples are available all over the Internet. Sample business plans are not difficult to find, but you definitely want to find one that is specifically for a life coach. You can use information from other types of plans, but you must find a few examples of life coach business plans. Using the wrong type of plan is better than no plan at all (because there are many similarities between different types of business plans), but you’ll get the most bang for your time if you sample ones designed for a life coaching business.

So – just open up an online search engine and put “life coach business plan sample” or some variation of order or words, and see what comes up.

What Should a Life Coach Business Plan Contain?

Every good life coach business plan sample will provide similar information, and you should take samples from a few different ones to help create your own plan. Though your business plan should be unique to your business, goals, and style, it will still contain elements found in other life coach business plans.

Here are the basic of a good life coach business plan:

Business Summary

This is where you include the who and the what. Who is involved with the business and what will the business do. Type of business, location of business, and other pertinent information can be included here. All administrative and structural information should be included in this section.

Business Goals

This is where you identify your goals and develop an action plan to reach those goals. Just as you will be doing this for clients, you do this for your life coaching business – and write it down!

Vision Statement

This is similar to goals, but it is more of a visionary statement than one with measurements and assessments. An example would be – to become the leading life coaching choice for corporations in my area.

Mission Statement

Also, similar to the section of goals section and the vision statement. However, it falls somewhere in between these two and further clarifies your vision and reinforces your goals.

Responsibilities

Who does what? If you are the only person involved in the business, you may include hired help such as accountants, marketers, and others.

Rates and Session Structure

This section will include how much you charge and what types of services you’ll offer – monthly plans, group rates, etc. This section should also include information about the rates and plans of your competitors.

Marketing

This will be a detailed section on how you plan to market, and how you should assess the impact of various types of promotion. Not every life coach business plan sample will have this section, but your business plan will be lacking without it!

SWOT

What is SWOT? It stands for strengths, weaknesses, opportunities, and threats. This will be a comprehensive section on what you do well, in what areas you need improvement (both business and coaching), what opportunities you see in your area and niche, and what threats (competitors, economy, etc.) can potentially derail your success.
If your business plan contains all these sections, you are off to a great start! Your plan can also be used as an excellent life coach business plan sample for others entering the business!

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 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