Writing the Financial Part of Life Coach Business Plans

While many components of life coach business plans can easily be crafted, the financial section can be quite burdensome, as it requires some financial know-how. In this article, we explore how you can write the financial section of a life coach business plan.

Writing the Financial Part of Life Coach Business Plans

Life Coach Business Plans: How to Write the Financial Section 

The financial part is a key point of any business plan. Therefore, it must be written with a lot of attention. This makes it possible to convince investors who will be reading the business plan.

Thus, it is important to take note of certain points before starting the financial part. You must keep a clear objective in mind, which is to convince investors to fund your life coaching startup.

1. The four main financial sections

Normally, a good life coach business plan should include four sections that will highlight the finances of the company. Investors may be reluctant to commit to a project that lacks one of these sections. Specifically, the following will need to be considered:

The projected income statement: The coaching company’s projected profit and loss will be shown in this statement. This concerns the income as well as the expenses that the company will incur to function properly. When writing this section, you’re not providing actual data, but a financial forecast about the financial stats of the future.

Cash flow statement: This statement summarizes the net cash flow of the business for each month. In other words, your business’s cash inflows and outflows. A cash flow statement shows your company’s ability to meet monetary commitments on a timely basis.

The balance sheet: This statement is a snapshot of what your business owns (assets) and owes (liabilities), as well as the amount invested by shareholders. A balance sheet indicates the capital needs of a business and helps identify the allocation of resources and how much financing is needed.

The projected financing plan: A comparison between the existing financial resources and the extra funding needed will be highlighted in this table. In this section, stress the profitability of the business and why your business needs financing.

2. Meeting the expectations of the readers

The second step towards writing the financial section of a life coach business plan is ensuring that each section mentioned earlier meets the expectations and requirements of the readers. Different readers, for example, an angel investor, a venture capitalist or a banking institution, may have different requirements. So, find out what they need before crafting your financial plan.

3. Write honestly while remaining realistic 

Many business owners writing their business plans tend to think that inflating the numbers in the financial part will help them get a lot of financing. It is important to know that this can create an unfavorable situation for you and your company. Consequently, investors will not take the risk of validating the file or supporting the business since they will have difficulty trusting the figures.

Finally, always use “What-if” scenarios when projecting your financials and coming up with future plans. This would increase transparency and help the investor to understand the best, expected, and worst sides of your coaching business.

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

Coaching Institute Business Planning Tips for Success

If you are planning to start a coaching institute, proper coaching institute business planning can not only save you from a lot of headaches in the beginning but can also mean the difference between a successful coaching institute versus a monetary disaster waiting to happen.

Coaching Institute Business Planning Tips for Success

Top 10 Tips for Coaching Institute Business Planning

Here are ten tips to guide you along the way as you begin your coaching institute business planning. Remember, success depends on many factors and the most important factor is your determination and energy you put into making your coaching institute a success!

Step 1: Ask Yourself Why?

Why do you want to get into the coaching education business? It is because you would enjoy working with people and coaching them or is it because you think it is an easy way to make money quick?

Running a coaching institute is a demanding business and can require lots of planning and development in terms of coming up with fresh interesting lessons and people skills.

Step 2: Study Your Competition

It does no good to enter a market where there already exist established, credible coaching institutes for a particular coaching niche. Clients want to know they have a dependable coaching institute that meets their needs and often will not change coaches once they get good results. Just because you start a coaching institute does not mean they will come.

Use your local Chamber of Commerce, the Internet and even Facebook groups to find out what coaching institutes exist in your area. If you want to specialize in a specific coaching niche, find out who your competitors are in your region. There may be none in your state, or there could be five down the street.

Step 3: Assess your Financial Situation

Starting a coaching institute can require a lot of upfront capital and expenditures before you even see one cent of income. Do you have the resources to spend on setting up a coaching institute at the right location? Do you have the money to invest in e-coaching systems?

Be sure to look past the startup costs as well. Employees, taxes, property rental and insurance are just a few of the things you will need to factor in as ongoing costs.

Step 4: The Business Plan

A solid business plan is the foundation of any business. You need to come up with a good coaching institute business plan and spell out what you intend to do and how you intend to get it done. Not only will banks require this for financing, but often other investors you deal with will want to see it as well. It should be the guidelines that you follow every day in your coaching institute to achieve the goals you have set forth.

For this part, it is often wise to work with a business lawyer or seek professional advice from business consulting services. A good resource to help you find people in your area with the necessary skills and background is the Small Business Administration government site.

Step 5: Apply for Licenses and Other Necessary Paperwork

Nothing is as certain as death and taxes. It is no different in the coaching business. As a business owner, you will be required to pay taxes and other fees to your state and to the federal government.

Be sure to get his part right because one wrong mistake can end up costing you not only money, but possible your entire business.

Step 6: Establish Your Facilities

Businesses must exist somewhere and like most things in life, there are rules and regulations on where they can be. Will you be having clients coming to your location at certain hours? Or do clients have the option to attend online coaching sessions? What about electrical, water and sewage needs?

To find a suitable location for your coaching institute, work with commercial real-estate agencies or seek recommendations from friends or family who might be able to point you to the right location.

Step 7: Establish Your Relationships

You have the facilities, you have the finance, now do you have anyone helping you out with your website or coaching content for your website? Work with other coaches, writers or web developers and build strong relationships with them.

In addition, relationships extend beyond your clients and business associates. It is good practice to establish relations with your local Chamber of Commerce, retail associations and labor organizations in your area.

Step 8: Marketing

How can you build relationships or expand on existing ones? You can use your website, blog, or social media to market your coaching institute to existing or potential clients. Publish useful and relevant coaching-related content on these avenues. 

Marketing works hand in hand with building a relationship and maintaining it.

Step 9: Servicing Your Clients

Delivering coaching courses or lessons to your clients, answering questions about your coaching services, and working with your staff to develop new product lines are demanding parts of the business.

This is where back end systems come into play by maintaining records and logs of all activity with your clients and staff. Do not underestimate the value of a good customer relationship management or human resource system.

Step 10: Employees, Finances and Other Administrative Matters

Once everything is up and running, your next focus is administrative matters. Employees need to be hired and payroll needs to be met. Money must come in and money must go out. Get the help of an accountant if you do not possess them already.

One oversight can mean the loss of hundreds of thousands of dollars; a missed payroll deadline could mean your entire business comes to a halt. It is critical that you constantly keep an eye on the books and on your expenditures. Most importantly, know when to tighten the belt, and know when to expand.

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

 

How to Write a Simple Coaching Business Plan

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

How to Write a Simple Coaching Business Plan

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

Five Elements of a Simple Coaching Business Plan

Background 

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

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

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

Vision and Mission

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

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

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

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

Marketing and Communication Plan

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

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

Risks and Opportunities

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

Financial Plan

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

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

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

A Sample Business Plan for Life Coaching

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

A Business Plan, Coaching Practice and Some Strategies

How do you align your business plan coaching practice with your Internet marketing strategies? Every successful business has an intelligent strategy and coaching businesses are no different. However, given the many additional marketing avenues that the Internet provides, it is easy to develop tangential campaigns that are not connected to your overall business strategy.

A Business Plan, Coaching Practice and Some Strategies

To reap the great benefits of the digital economy, it is important to ensure that your Internet marketing strategy is properly aligned with your overall business plan. By verifying that all of your online marketing efforts complement your coaching practice, you will be able to reap the full profits of branding.

Here are some avenues of Internet marketing branding you can explore to boost your brand messaging.

  • PPC (pay-per-click) keywords and ad copy should espouse your marketing punch line.
  • Online press releases are most effective if they point out the benefits of your coaching business website and these benefits should be congruent with what you are plugging in your messages and slogans.
  • Social media posts should be related to your branding message.
  • Blog posts should not only discuss how your coaching product or website is fresh and innovative, but also reinforce your branding message.
  • Email campaigns need to be handled delicately to ensure that they are not viewed as spam, but if you can include information that is of value to your reader, in addition to your marketing message, this is an effective method.
  • Banner ads provide that great visual element, where you can use imagery and text to attract and hold attention.
  • Website content is very valuable in helping the search engines increase your rankings, as well as turning your visitors into buyers through your branding message.

Stage 1: Business Plan, Coaching Practice & Internet Marketing Strategy

After you have developed your overall business plan, it is time to develop your Internet marketing plan. The first step of Internet marketing planning begins with your domain name. The choice of domain name is critical and it will follow your coaching practice regardless of what future marketing changes you may implement. Thus, choose a domain name wisely and carefully, with your business strategy in mind.

After you have selected the appropriate domain name, it is time to develop the look of the website and ensure that it properly espouses your vision for your coaching strategy. Even the simple use of different colors may or may not complement what you are attempting to strategically achieve.

Once you have built your website, it is now time to plan your marketing strategy. Develop a budget, research your target audience, find the right keywords and begin creating the perfect copy for your online advertising campaigns. At this stage, you can experiment with different combinations of keywords, copy, and any relevant copy, as long as they are still within the bounds of your business plans, coaching practice and marketing strategy.

Stage 2: Monitoring

This is a very important part of your online marketing strategy, yet most often overlooked. After you have approved your marketing campaigns, it is important to monitor what keywords, banner ads, landing pages, and ad copy are effectively yielding you a good ROI. 

Managing dozens of keyword campaigns is a tedious, time-consuming task; in addition, it is difficult to see the trends and true ROI between your campaigns. Utilizing online tools such as ZamDoo, all of this monitoring and analysis is automatically done for you, which leaves you with more time to focus on the overall Internet marketing strategies for your coaching practice.

The more Internet marketing avenues you have, the more important it is for you to monitor all of them to effectively ascertain which ones are working best for your business plan, coaching practice, and marketing strategy.

Stage 3: Adjusting

After you have researched and monitored your Internet marketing results, act swiftly to adjust to the information you gather. The quicker you can react to the online marketplace, the better your profits will be. Stop using marketing venues that are not giving you high ROI and instead focus on the keywords and campaigns that are working for your business strategy. 

By planning, monitoring, and adjusting, you can effectively ensure that your Internet marketing strategies will optimize your overall business plan. Online marketing is a powerful advertising avenue, but the diversity of its audience, changing results of interaction, and intricacies of its tools require your attention to ensure that your message online is clearly branded with the one you have for your overall coaching business plan.

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

Resources for Coaching Business Plan Examples

Writing a coaching business plan is a difficult task regardless of your level of experience, but referring to coaching business plan examples can make the process a lot easier. While the content of your business plan is critical to its effectiveness, the layout and the format you utilize are equally as important. To get started, you should research various coaching business plan examples and find out which best suits your niche. The biggest mistake people make when writing their business plan is using a generic template provided in your text editing software, like Microsoft Word. These templates are usually outdated and would have probably been used by many business owners. Avoid the quick-fix mentality of these business plan templates, and invest some time in finding resources that will provide you with up-to-date helpful ways to compose a winning business plan.

Resources for Coaching Business Plan Examples

The easiest and least expensive way to find samples of coaching business plans is to do a search on the Internet. Before you get started, a word of caution: consider the sources of information before you decide to utilize any of their suggestions on your business plan. You will come across websites that promise to teach you how to write a business plan in 10 minutes. Don’t believe them. Unless you decided to hire a business plan writer, obtaining resources on business plan writing should not cost you any money or obligate you to a long-term commitment. If you are unsure of the credibility of the information you come across, find another source and compare your findings.

Some Coaching Business Plan Examples

A great online resource on business plan writing is Bplans.com. While they are mostly known for their online collection of free sample business plans for professionals in a number of different industries, they also offer a variety of other information and services for those looking to build and grow their business. Under the Business Ideas tab, you will find a wealth of information on starting a business, becoming an entrepreneur, advice by industry experts, and of course, information on coming up with the right business ideas and putting them into a business plan. In addition to articles about business planning, Bplans.com also includes articles and expert advice on business pitching, funding and managing a business. 

To view a coaching business plan example, visit https://www.bplans.com/management-consulting-business-plan

This page shows you a sample of an executive coaching business plan. Take the time to review this sample. It’s provided by a reliable source, so don’t be afraid to copy the formatting for your own business plan (of course, do not copy the actual text from the business plan!).

If you already have a draft of your coaching business plan and are looking to make updates or revisions, you can probably look at other coaching business plan examples on Bplans.com or visit the following websites:

Life Coaching Business Plan

https://www.ogscapital.com/article/life-coaching-business-plan/8

Health Coaching Business Plan

https://www.profitableventure.com/health-coaching-business-plan

It is important that you review these samples, even if the coaching niche is not applicable to your line of work. They will teach you the basic dos and don’ts of business plan writing and give you a better picture of what is required in a coaching business plan. Use these resources to your advantage and create the business plan that presents you in the best light.

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “Life Coach Salary Secrets” video toolkit.  Go HERE to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

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

What is a Life Coaching Business Plan Template?

If you want to create a life coaching business plan but do not know where to start, you may want to consider searching out a life coaching business plan template. Finding a free business plan template is relatively easy. In addition to local government agencies, there are also many life coaching and business planning companies that offer this service on the Internet. Life coaching business plan templates either come in the form of downloadable documents or business planning software.

What is a Life Coaching Business Plan Template?

A life coaching business plan template will provide the bare skeleton plan. When you are ready to create a business plan, you simply fill in the empty spaces with your own text. In certain cases, business plan templates will come complete with sample texts or suggestions on what to include in the plan so you’ll not feel lost when writing your business plan.

Life Coaching Business Plan Template and Tips 

One of the most common questions coaches ask is this: What should I include in my business plan? Well, that depends on what your coaching business aims to do, and who you want to approach for capital. 

The standard life coaching business plan template includes sections like an executive summary, a description of the practice, a description of the products and services your practice offers, the details of market research and analysis, strategy and implementation, the backgrounds and biographies of the practice’s management team, and your financial planning. The financial planning section should include a profit and loss statement if the practice has been in business long enough to have one, a cash flow statement, a balance sheet, and a company analysis of its break-even point.

One of the most important points that must be addressed in your business plan template are the details of the implementation and analysis of cash flow. Cash flow is one of the most vital parts of a business and life coaching business plan templates designed to keep track of the cash flow helps resolve the difficulties in following its path. Cash is often misunderstood as a profit figure, but they are not the same. Business plan templates help you differentiate and keep track of each. After all, profit from your coaching practice does not necessarily mean your company will have cash in the bank. There are many profitable companies that fail because they have problems with cash flow. A cash flow analysis can help prevent this issue.

A life coaching business plan template helps record, organize, and follow implementation details. These are the things that make good things happen for your coaching business. You may have the most brilliant of strategies and the most beautifully crafted plans and documents but until you use your business plan template to assign responsibility and record dates and your business budget, your ideas are just theory. Your business plan template also helps you follow up with the assigned staff for each responsibility and task and track the business results. Business plan templates dedicated to life coaches are about getting business results and improving your practice and its bottom line.

Study a Few Real-World Life Coaching Business Plans

The best way to get a real feel for the do’s and don’ts of a coaching business plan is to find real-world plans that have already been approved and study them. Once you’ve studied a few, you will get a better feel for how much work will be involved in putting your coaching business plan together. Remember, until the strategies in your plan are implemented, the business plan is the only tool you have to sell prospective backers on how great your coaching business is going to be.

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “Life Coach Salary Secrets” video toolkit.  Go HERE to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Coaching Business Plan Writers: Should You Hire One?

If you are interested in starting up your own coaching practice, you should carefully consider writing a coaching business plan. The thought of preparing a business plan tends to fill most coaches with dread; it can be a difficult, stressful, and time-consuming process. Therefore, you may want to think about seeking assistance.

Coaching Business Plan Writers: Should You Hire One?

One of the many ways that you can seek help to write your plan is by hiring a professional, who in this case is a professional coaching business plan writer.

What Is a Professional Coaching Business Plan Writer? 

Before deciding whether or not you should hire the services of a professional business plan writer, you should first understand what they are. In most cases, professional business plan writers are well versed in business terminology and can effectively understand the needs of businesses. It is important to understand when writing anything, even coaching business plans, that it is the wording that makes all the difference; the words used can be the difference between success and failure. That is why a large number of business owners turn to professional writers for assistance.

When it comes to searching for a professional business plan writer, you will find those different writers perform different tasks. For example, some writers will merely take your ideas, which you have already thought out and developed; they’ll write them in a professional manner and present your plans in a more professional way than you could.

Then there are the professional business plan writers who will work with you to develop your business plan from the inception of the basic ideas for your business to the final document. Naturally, since more work and time goes into assisting you with developing a business plan from scratch, you will probably find that the services of these writers cost more than the earlier category.

It is important therefore that before you start looking for a business plan writer you be very clear in your own mind as to what level of support and input you require.

Why Hire a Professional Business Plan Writer? 

There are a number of different reasons why business owners turn to professional business plan writers. One of the main reasons is the lack of experience when it comes to putting ideas on paper and not knowing what format a business plan should take. If you have never created a business plan before, you can easily find yourself struggling to get started.

Although it is relatively easy to learn how to create your plan, it can be a time-consuming process to undertake the research and put them into words. With the right experience, a professional business plan writer will be able to create a detailed, professional business plan faster than it would take you to create the same plan.

How Do You Find Someone? 

If you are interested in hiring a professional business plan writer, you have a number of different options. One of them is to search for someone locally. Dealing with a local writer is great, especially if you want to deal with someone face-to-face. Your search can focus on local job boards or even asking fellow business colleagues or acquaintances. If there is a Facebook writing group that features local writers, then you can approach them for potential names.

The only problem that you may come across is that not all areas of your country will have professional business plan writers. This means you may have to turn to the Internet for help. By conducting a Google search, you will find a large number of professional writers who specialize in creating or writing business plans.

What Should You Look for Before Hiring? 

When choosing a professional business plan writer, it is important that you don’t choose the first person that you come across or the cheapest. If a well-written business plan is crucial to the success of your coaching practice, then you must be careful in your selection. Your business plan may not only be used as guidance, but it may also be used to attract financing for your business and that is why your plan must look professional, be detailed, and readable.

Before hiring a writer, you should request samples of previous work and also ask to see testimonials from business owners who have engaged them. This will help to ensure you are getting your money’s worth and that you end up with a coaching business plan you can proudly distribute.

As with any contract you enter into, be very certain that the contract includes the provision for updates or revisions before the final version is agreed. Also determine if you will pay the writer per word, per page, or by the hour. Make sure both you and the writer fully understand the deal.

By following these points, you should be able to decide whether or not to hire a professional business plan writer. Whilst they can be an additional cost, in the long run, it could be the best investment you ever made.

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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