What More Information is Needed for a Coaching Centre Business Plan?

Do you need a coaching centre business plan? Do you have a coaching centre? For the purpose of this brief article, a coaching centre will refer to a coaching practice with more than one coach.

 

Coaching Centre Business Plan

Coaching Centre Business Plan – kasto © 123RF.com

As you can most likely tell from the spelling (centre), this is geared toward our readers in Canada or Britain, but it is just as applicable for anyone who is building a coaching business in any part of the world, including the United States.

The Usual Sections for a Business Plan are Still Needed

The basics of a business plan cross all kinds of businesses. It doesn’t matter is you are starting a coaching business or a water park, most of the sections are general and necessary. The information inside these sections may be vastly differences, but the context will be similar.

Your coaching centre business plan should still contain most or all of the following sections:

  • Administrative
  • Market analysis and target market
  • Mission statement
  • Vision statement
  • Values section
  • Marketing and promotion
  • Some type of SWOT analysis.

These sections apply to any type or size of business. They are invaluable to the short and long-term success and prosperity of your coaching business and will help guide your decision making as you move forward.

One Additional Section for a Coaching Centre Business Plan

When the plan is to grow your business by adding additional coaches, you need a section which will help you deal with these additional coaches. This additional section could merely be called: Coaches. But, any name that appeals to you and still fits the information is ideal.

Here are some thoughts on this additional section of you coaching centre business plan:

  • Will the additional coaches be considered independent contractors, employees, or partners? This designation is crucial for income, taxes, and administrative reasons.
  • Will these additional coaches be able to change designations as they gain experience and time in the business? For example, could one start out as an employee and eventually become a partner, similar to what happens in a law firm?
  • Pay for each of these coaches, no matter their designation.
  • The responsibilities of the coaches. One of the major decisions to make is how autonomous these coaches will be? Do they do all their own marketing? Or is the company doing marketing for all the coaches? Will the coaches do their share of the marketing, paperwork, and normal business activities outside of coaching? Or will the firm handle all the extraneous duties and allow the coaches to just coach?

A Business Plan is Important for Coaches

Every business needs a business plan. Coaches are no exception. Whether you are a solo shop or are planning on running a coaching centre with multiple coaches, you need a business plan. Take the time to create one that fits your business and covers all areas. A coaching centre business plan will help propel your coaching business to success and prosperity.

By the way… you’re invited to claim your FREE step-by-step “Life Coach Salary Secrets” video toolkit. Just go HERE now to get your Life Coach Salary Secrets.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

FREE Video Course: How To Build a High Paying Coaching Business

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