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