life coaching business plan

How to Craft your coaching business plan in 7 simple Steps (+ FREE Template)

May 8, 2024

Are you eager to launch your coaching business but feeling overwhelmed about where to start?

You’re not alone! 

In this article, I’ll help you understand what a coaching business plan involves. I’ll provide you with a coaching business plan template and also teach you how to shape it so that it mirrors your vision and goals. I’ll walk you through every step to ensure you create a successful coaching business plan tailored to your niche.

Let’s dive into the world of business planning, where clarity meets strategy.

In Brief : How to Craft your coaching business plan in 7 simple Steps

• Step 1: 📝 Executive Summary – Craft a compelling summary that encapsulates your business vision, mission, and core elements like the business name, owner, and location, setting the stage for what follows.
• Step 2: 🗂️ Business Description – Detail your coaching services, niche, and operational mechanics. Explain how these elements work together to meet the needs of your clientele.
• Step 3: 🔍 Market Analysis – Conduct a thorough analysis of your target market and competition. Use this data to tailor your services and pinpoint market opportunities.
• Step 4: 📈 Create a Marketing Strategy – Develop a comprehensive marketing plan that includes digital and traditional methods to attract and retain clients, ensuring your brand stands out.
• Step 5: ⚙️ Operations Plan – Outline your business’s operational structure, including the logistics of daily operations and the roles of your team members.
• Step 6: 💰 Financial Planning – Forecast your business’s financial health with detailed budgeting, pricing strategies, and expected financial outcomes.
• Step 7: 🚀 Review and Implement – Regularly review and refine your business plan to ensure it remains relevant and effective

Do You Need a Coaching Business Plan?

A few years ago, I was just like you—excited yet baffled about the right steps to take in starting my coaching business. I dabbled in social media, attended conferences, tried podcasting, and explored various other avenues. 

Despite my efforts, the results were far from what I needed. It felt like I was constantly moving, but not in the right direction.

Then it clicked. I realized that diving headfirst into business without a well-thought-out plan was like sailing without a compass. 

So, I took a step back and started from scratch, this time with a clear strategy in mind. I laid out a business plan that not only guided my business to success but also continues to guide me today.

Starting a coaching business can be an exciting venture , but without a clear plan, it’s easy to lose direction and focus. A business plan helps you outline your business objectives and also provides a roadmap to achieve them. 

Here’s why a business plan is vital for a coaching business:

• Clarity and Direction : A business plan defines your coaching business’s purpose and sets clear goals. This clarity guides your decisions and keeps you focused on long-term goals.
• Understanding Your Market : Who are your potential clients? What are their needs and how can your coaching services meet those needs? Analyzing the market helps you tailor your offerings. It also helps you stand out from competitors. This ensures your services are in demand.
• Attracting Investors and Funding : Investors want to know that their money is going into a venture. The venture must have a clear plan to make a profit. This will give potential investors the confidence to back your business.
• Measuring Progress and Success : A business plan sets a baseline for measuring your progress. Setting clear goals and milestones helps you track progress and adjust strategies as needed. This ongoing review keeps you on track and informs smart decisions that drive your business forward.
• Risk Management : All businesses, including coaching ones, face risks. A business plan helps predict and manage these risks, making it easier to handle challenges. It prepares you for economic downturns, shifts in consumer behavior, and new competitors. This proactive approach protects against unexpected problems.

How To Create Your Coaching Business Plan

A well-structured business plan outlines every critical component of your operation, from your business identity and client demographics to your financial management and growth strategy.

Before we jump straight into the coaching business template , let’s understand the structure of your coaching business plan:

• Step 1: Craft your Executive Summary
• Step 2: Business Description
• Step 3: Market Analysis
• Step 4: Create a Marketing and Sales Strategy
• Step 5: Operations Plan
• Step 6: Financial Planning
• Step 7: Review and Implement

1. Crafting Your Executive Summary

To start your coaching business, begin with a powerful executive summary in your business plan. This section is like the front cover of a book—it needs to captivate and inform.

Here’s how to craft an executive summary that sets the stage for a compelling business plan:

• Business Name and Location : Clearly state the name of your coaching business and where you are based. This basic info introduces your business.
• Services Offered : Describe the types of coaching you provide. You might specialize in life coaching, career coaching, or another niche. Give a snapshot of what you offer.
• Mission Statement : Your mission statement should reflect the core values and purpose of your business. It tells your audience what your business stands for and what you aim to achieve.
• Vision Statement : This is about the future. Where do you see your coaching business going? What impact do you want to make? Your vision statement paints a picture of the future you are working towards.
• Goals and Objectives : Jot down your short-term and long-term objectives for your coaching business using the SMART criteria—Specific, Measurable, Achievable, Relevant, and Time-bound . Short-term goals might include reaching a certain number of clients. Or, they might include achieving a set income within the first year. Long-term goals could involve expanding your services nationally. Or, they could involve developing a franchise model.

2. Business Description

Here, you explain what your business does, how it operates, and what it aims to achieve.

This section gives context for the rest of the business plan. It helps stakeholders understand your business at a detailed level.

Choose Your Niche

Choosing a coaching niche and specifying your services are key . This sets your business apart.

Detail your target market. Whether you focus on life, executive, or health coaching, each meets unique client needs. Focus on demographics like age, profession, or specific challenges. Your coaching addresses those challenges.

Explain how your services are tailored to meet these needs, and discuss your business’s competitive edge. List your services in this field. Include personal coaching, group workshops, and online courses.

Also, showcase what makes you unique. For example, you might have a special coaching method. Or, you could be highly skilled in a popular coaching area.

Business Structure

The structure of your coaching business can greatly impact its operations and growth. You may operate as a sole proprietorship, a partnership, or a corporation. Each type has its own implications.

A sole proprietorship is easy to start and gives you full control. But it also leaves you fully liable for debts. On the other hand, a corporation shields you from debt and can attract investors. It does this through its structure and ability to sell shares. However, corporations face more rules and taxes.

Choose the structure that fits your business goals. Consider how it affects liability, taxation, and investment.

Business Model

Your coaching business can adopt various models to deliver its services, depending on your target market and your expertise:

• One-on-One Coaching: Tailored specifically to individual clients to address personal or professional goals. This model allows for deep, personalized work and can be conducted in person, over the phone, or via video conferencing.
• Group Sessions: These sessions bring together multiple clients who share similar goals or challenges. Group coaching is effective for workshops, seminars, and regular meetings, offering the added benefit of peer learning and support.
• Online Courses: Providing digital courses allows clients to engage with your coaching material at their own pace. This model can include video lectures, downloadable resources, and interactive elements like quizzes or forums.

Value Proposition

What sets your coaching services apart is your unique value proposition.

For instance, your approach might integrate cutting-edge psychological research, or perhaps you offer a unique blend of strategies drawn from various disciplines such as mindfulness, behavioral science, and leadership training.

Maybe your services are particularly tailored to a niche market, such as startup entrepreneurs or corporate executives facing burnout.

Highlighting this uniqueness in your business plan helps potential clients and investors understand why your coaching services are not just necessary but highly desirable.

3. Market Analysis

A thorough market analysis is crucial. It helps you understand your environment. You can identify opportunities and challenges. Then, you can make strategies. These strategies use your strengths to meet market demands.

This part of your business plan will show the whole market. It will offer key insights. These insights will help you set real goals and grow in a lasting way.

Identify your Target Market

Identifying your target market involves defining the specific group of people who are most likely to benefit from your coaching services. Key aspects to consider include:

• Demographics: Age, gender, profession, income level, and educational background. For instance, your services might cater primarily to mid-level professionals aged 30–50.
• Psychographics: Values, interests, lifestyle, and personality traits. For example, this might include people who value personal development, are career-focused, and seek work-life balance.
• Location: Whether your target market is local, regional, national, or global. Online coaching services can broaden your geographical reach compared to traditional in-person sessions.

Market Need

This section details the specific needs your coaching services address.

Are your clients looking for career advancement, personal growth, better stress management, or improved leadership skills?

Understanding these needs allows you to tailor your offerings effectively.

For example, if there is a high demand for stress management techniques among corporate workers in your area, your coaching could focus on mindfulness and resilience training.

Analyze your Competition

Analyzing your competitors helps you understand the current market landscape and identify what sets your coaching apart. Consider the following:

• Who are your main competitors? Look at other coaching services in your niche.
• What services do they offer? Understanding their offerings helps you spot gaps in the market.
• What are their strengths and weaknesses? This can help you learn from their successes and capitalize on areas where they may fall short.

SWOT Analysis

A SWOT Analysis is a strategic method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats.

Use it to analyze your coaching business:

• Strengths: What advantages does your coaching business have? This could be a unique coaching methodology, a strong personal brand, or deep expertise in a niche area.
• Weaknesses: What areas need improvement? This might include limited market presence or lack of full-time coaching staff.
• Opportunities: Look for external factors that could be advantageous for your business. This could include increasing demand for mental health services or expanding into online coaching.
• Threats: Identify potential challenges that could hinder your business’s success. These might include new competitors entering the market or changes in regulatory laws affecting coaching services.

4. Marketing and Sales Strategies

An effective marketing and sales strategy is critical for the success of any coaching business. This part of your business plan outlines how you will attract and keep clients.

It details your approaches to reaching your target market and turning leads into paying customers. The right strategy boosts visibility. It also improves client engagement and loyalty.

A well-crafted marketing plan is essential. It sets clear goals and identifies the best tactics to reach them. It ensures your marketing is consistent, targeted, and effective. They help build brand recognition and trust.

Developing your coaching brand involves creating a distinctive identity that resonates with your target audience and sets you apart from competitors.

Key elements include:

• Brand Message: What are the core messages you want to convey? This could be your commitment to helping clients achieve specific goals, like improving leadership skills or finding work-life balance.
• Visual Identity: Includes your logo, color scheme, and overall visual style. These should reflect the tone and ethos of your coaching practice.
• Brand Voice: How you communicate in written and spoken words, which should consistently reflect your values and appeal to your target audience.

Marketing Channels

To reach your potential clients effectively, utilize a mix of marketing channels tailored to where your audience spends their time:

• Social Media: Platforms like LinkedIn, Instagram, and Facebook can help build community and engagement. Tailor your content strategy to each platform to maximize reach and engagement.
• Speaking Engagements: Presenting at conferences or local events can establish you as an expert in your field and attract clients looking for proven guidance.
• Networking: Building relationships through industry groups or local business events can lead to referrals and new client opportunities.
• SEO: Optimize your website and content for search engines to attract organic traffic. Focus on keywords that potential clients might use to find coaching services.

Effective marketing can significantly boost your coaching business, attracting a steady stream of clients. It not only draws attention but also captures and retains interest

Sales Strategy

Converting potential clients into paying clients requires a clear sales process:

• Initial Consultation: Offer a free or discounted initial consultation to introduce potential clients to your coaching style and the benefits of your services.
• Follow-Up: After the consultation, follow up with a personalized message that summarizes how you can help them achieve their goals.
• Special Offers: Consider time-limited offers or package deals to encourage sign-ups.

Set up a sales funnel. A sales funnel is a process that guides potential clients from their first interaction with your brand through various stages of engagement until they make a purchase.

It starts with awareness, often through your marketing efforts, and progresses to interest (engaging with content), decision (attending a consultation), and finally action (purchasing a coaching package). 

5. Operations Plan

The Operational Plan section of your business plan provides a detailed look at how your coaching business works. This section outlines the day-to-day operations that support your coaching business.

This includes preparing for client sessions, both scheduled and ad-hoc and follow-up activities for each session, client communication, and administrative tasks like scheduling, billing, and client records management. 

It’s important to specify how these tasks are handled and by whom, as well as any business hours or response time commitments you make to your clients.

Business Location

Where you operate your business significantly shapes how it runs. Specify whether you offer your coaching services online, offline , or in a hybrid model:

Technology Used

Technology is crucial in running a modern coaching business efficiently. List the specific technologies and software you utilize for various business functions:

• Client Management Systems : Software for scheduling , session notes, and client progress tracking.
• Communication Tools : Tools used for client communication, such as email platforms, video conferencing tools, and instant messaging apps.
• Marketing and Sales Software : CRM systems for managing leads, marketing automation tools, and analytics platforms.

Staff and Resources

Finally, detail any staff or additional resources needed to operate your business effectively. This includes any administrative support, marketing personnel, or additional coaches. 

If you handle most operations solo, discuss any outsourced services you might need, such as virtual assistants, accountants, or IT support.

6. Financial Planning

The Financial Plan is a critical section of your business plan. It is crucial for both potential investors and for you as the owner.

It shows that your coaching business is financially viable. It gives a roadmap for financial success.

This section is crucial for securing funding. It shows you understand your business’s finances.

Startup Costs

Outline all initial costs required to start your coaching business. This includes any licensing fees, initial marketing expenses, technology setup costs, office equipment, and any other expenditures necessary to launch your business.

Pricing Strategy

Set your prices for your coaching services based on the value you provide, the demands of your target market, and your competitors’ pricing. You can also offer different pricing tiers based on the length and depth of the coaching provided or discounts for upfront payments for a series of sessions.

Revenue Projections

Project your revenues over the next three to five years. Base these estimates on your market analysis, including expected client numbers, session pricing, and any additional revenue streams like workshops or online courses.

Break-even Analysis:

Calculate when the business expects to break even. This analysis should consider all fixed costs (like rent and salaries) and variable costs (such as session materials or payment processing fees) against expected revenue streams. The break-even point is the moment when total revenues equal total costs, indicating when the business starts to generate profit beyond recovering its initial and operational costs.

Think of it like this: if you have a lemonade stand, you need to know how many cups of lemonade you have to sell to pay for all your supplies and costs. The moment you’ve sold enough cups to cover all your expenses, you hit your “break-even point.” That means you’re not losing money anymore, and any more lemonade you sell after that starts to make you profit.

7. Review and Implement

Once you’ve finalized your coaching business plan, the next steps are critical: reviewing the plan carefully and implementing it effectively.

This ensures that your business is built on a solid foundation and is ready to adapt to challenges and opportunities. Here’s how to approach these important phases:

Reviewing Your Business Plan

• Thorough Read-through: Start by reading your business plan thoroughly from start to finish. This helps you ensure that the plan is cohesive and all parts align well with each other.
• Seek External Feedback: It’s invaluable to get perspectives from trusted mentors, industry peers, or potential investors. They can provide insights that you might have missed and suggest improvements. Consider feedback from people who understand the coaching industry as well as those who might be part of your target audience.
• Revise for Clarity and Accuracy: Based on the feedback and your own assessments, make necessary revisions. This could involve clarifying certain sections, adding missing details, or correcting any inaccuracies. Ensure your financial forecasts and market analysis are realistic and based on the latest available data.
• Finalize the Document: Once revisions are made, finalize the formatting, proofread for grammatical errors, and ensure that the document is professionally presented.

Implementing Your Business Plan

Now that your business plan is meticulously crafted, it’s time to bring it to life. This step might seem a bit overwhelming, but it’s essential for growing your coaching business.

The great news is, you’re not in this alone. We’re here not just to support you but to actively participate in your journey.

Our role extends beyond mere guidance; we’re here to help build your business. While you concentrate on what you do best—coaching and transforming lives—we’ll handle the operational details. From identifying your niche to marketing execution, we’ve got you covered .

As we wrap up, I hope the insights shared here have empowered you to create a structured and effective business plan for your coaching venture.

Crafting a solid plan is crucial, not just for guiding your business but for adapting as your enterprise grows.

If you have any questions about the business planning process or wish to share your own experiences and insights, feel free to leave a comment below.

Resources for your Coaching Business Plan

As a coach, it’s crucial to have the right resources at your fingertips.

We’ve put together a curated list to support your journey to craft your custom coaching business plan.

Your Custom Template

To get your FREE custom Coaching Business Plan Template, click on the “Download Your Coaching Business Plan” Button

Other resources

Financial planning and management tools.

• QuickBooks : An accounting software ideal for small businesses to manage accounts with ease.
• Mint : Helps with personal and business financial planning and budgeting.
• Microsoft Excel / Google Sheets – Spreadsheet tools that are essential for financial analysis, including creating detailed financial projections and budgets.

Software and Online Platforms

• LivePlan : This is an intuitive, user-friendly business plan software that guides you through the process of creating a detailed, investor-ready business plan. It offers templates, financial forecasts, and performance tracking tools.
• Bizplan : Bizplan makes the process of writing a business plan more efficient through step-by-step guidance, templates, and a modern, user-friendly interface that simplifies financial forecasting and business modeling.
• Enloop : This tool automatically writes and formats your business plan as you input information. It offers features like auto-generated financial reports and a real-time performance score to improve your plan.
• SMART Goals – A framework for setting objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound, ensuring well-defined and attainable goals.
• SWOT Analysis – A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
• PEST Analysis – A framework for analyzing and monitoring the macro-environmental factors that may have a profound impact on an organization’s performance.
• Business Model Canvas – A strategic management template for developing new or documenting existing business models across nine key components.
• Value Proposition Canvas – A tool that helps businesses ensure that a product or service is positioned around what the customer values and needs.
• “ Co-Active Coaching: Changing Business, Transforming Lives ” by Henry Kimsey-House, Karen Kimsey-House, Phillip Sandahl, and Laura Whitworth – This book provides a foundational philosophy for professional coaching.
• “ Business Model Generation ” by Alexander Osterwalder & Yves Pigneur – A book that introduces practical tools for creating, analyzing, and reinventing business models, with visual methods for brainstorming.
• “ The Lean Startup ” by Eric Ries – A book that introduces methodologies for developing businesses and products in an efficient way by managing and directing startup activities toward the markets.

Legal Resources for Small Businesses

• U.S. Small Business Administration (SBA) : Information on business registration, legal structures, and licenses.
• Gov.uk (for UK based businesses) : Guidance on starting and running a business in the UK, including legal obligations.

Each resource was chosen based on its practical utility, ease of access, and the most current information available.

From established industry platforms to cutting-edge tools and insightful publications, our editorial team has researched, fact-checked, and curated a diverse mix of resources to cater to various learning styles and needs.

This ensures you have access to the best tools and knowledge, helping you build a solid coaching business plan.

Frequently Asked Questions (FAQs)

What are the steps of a business plan.

A coaching business plan includes the following steps – making a list of the strengths and weaknesses of the company, moving on to a SWOT analysis, outlining a short-term and long-term strategy, creating project benchmarks, and defining the key success factors. Another additional step is how to price the business and launch a new product.

What Must An Entrepreneur Do After Creating their Coaching Business Plan?

A list of tasks that entrepreneurs should complete after setting up their coaching business plan includes: obtaining startup capital, researching trade laws, reviewing business licenses, and choosing a company name.

What Is the Purpose of Writing a Business Plan Before Entering the Market?

Creating a coaching business plan before entering the market can prove beneficial because it allows entrepreneurs to look at the big picture of the company, from the way it will be run to its goals and general purposes. It also gives entrepreneurs an opportunity to look at what they need to do in order to successfully and efficiently run their business.

What Should I Include In A Business Plan?

Every business plan needs to include the questions and answers of these three fundamental issues: what do you want your company to accomplish, why should people buy what you sell, and how will you make it happen? It is important to take this opportunity to be very thorough with your business plan.

How to Make a Business Plan?

To make a business plan, you must know what kind of business you want it to be. You will need to research your market, competition, and finances. If you don’t, then you run the risk of running out of money or building a business that is unable to make a profit.

How Do You Draft A Coaching Plan?

You can draft a coaching plan through plenty of documents and templates that can be used as a guide to help you brainstorm and organize your own thoughts. One great resource is the Coaching Business Plan Workbook and Guide by Mary Baldwin and Amy Levin-Epstein.

How To Write A Business Plan Step By Step?

The precise step-by-step guide on how to write a business starts with first outlining what your business will be and what your long-term goal is. Next, it’s important to start with developing your company’s mission statement, detailing who your customer is and what they want. This is followed by conducting market research and researching your competition.

ABOUT SAI BLACKBYRN

I’m Sai Blackbyrn, better known as “The Coach’s Mentor.” I help Coaches like you establish their business online. My system is simple: close more clients at higher fees. You can take advantage of technology, and use it as a catalyst to grow your coaching business in a matter of weeks; not months, not years. It’s easier than you think.

4 thoughts on “How to Craft your coaching business plan in 7 simple Steps (+ FREE Template)”

This article was very simple and easy to follow. Extremely helpful. Just starting out so needed this kinda help.

Hi J Dawn, I’m glad you got great value from this piece. And since you are just starting out, the webinar would be extremely helpful to you so do register

Thank you so much, very insightful especially as I’m starting my coaching business.

Keep up the great work!

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How to Write a Life Coaching Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for life coaching businesses who want to improve their strategy or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you will accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every life coaching business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Life Coaching Business Plan?

A life coaching business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Life Coaching Business Plan?

A life coaching business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Life Coaching Business Plan

The following are the key components of a successful life coaching business plan:

Executive Summary

The executive summary of a life coaching business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your life coaching company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your life coaching business. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company or been involved in an entrepreneurial venture before starting your life coaching firm, mention this.

You will also include information about your chosen life coaching business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a life coaching business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the life coaching industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support your company’s success)?

You should also include sources for your information, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a life coaching business’ clients may include:

• High school students seeking guidance on what to do after graduation
• Middle-aged professionals wanting a mid-life career change
• Small business owners needing help to expand their companies

You can include information about how your customers decide to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or life coaching services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will differ from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your life coaching business may have:

• You offer a more comprehensive life coaching program than your competitors.
• You have a team of certified life coaches with years of experience in various coaching fields.
• Your company offers a 100% satisfaction guarantee.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service: Detail your product/service offerings here. Document their features and benefits.
• Price: Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place: Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion: How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your life coaching business via word-of-mouth.

Operations Plan

This part of your life coaching business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a life coaching business include reaching $X in sales. Other examples include expanding your customer base by X% or adding X new life coaching programs.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your specific life coaching industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue: how much revenue you generate.
• Cost of Goods Sold: These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss): Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Life Coaching Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Life Coaching Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include cash flow from:

• Investments

Below is a sample of a projected cash flow statement for a startup life coaching business.

Sample Cash Flow Statement for a Startup Life Coaching Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Write a Strong Life Coaching Business Plan

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your life coaching company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A business plan also serves as a valuable tool for communicating your business goals to employees, partners, and investors. By taking the time to write a comprehensive business plan, you will have a much better chance of achieving your desired results.  

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With our Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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Choosing The Right Life Coaching Business Model + Templates

Building a profitable life coaching practice can be a lot of work. It involves a lot more than simply racking up your billable hours, and that alone sounds daunting enough to put off most aspiring practice owners.

Having a solid life coaching business model can take a lot of the complexity out of setting up and getting started, and it’s an essential way to stay on track as you scale up your practice and grow.

We’ll show you how to plan your own business plan in this article so that you can create, deliver, and capture value strategically while you grow. If you’re keen to design your own as you read, why not work along as you read with your 1-month, $1 Quenza trial ?

What is a Business Model? 2 Examples

If you’re like most new coaches, the words “business model” might conjure up images of how you deliver your sessions, from personal face-to-face coaching to online group sessions and similar.

While these do account for how you run your practice as a coach, there’s a little more to it.

Here’s what a sustainable business model looks like at its most basic, according to international business experts. [1] This diagram ties in beautifully with how Strategyzer co-founder Alexander Osterwalder defines a business model, which is: “…the rationale of how an organization creates, delivers, and captures value.” [2]

Where do you think your session delivery fits into the above diagram?

That’s right—it’s only one part. As a coach, you need a business model that considers the elements of your value proposition, value creation, and value capture strategy, all of which work together to help you grow your practice.

Let’s take a closer look.

Crafting Your Life Coaching Business Model

So what does each element represent in real life?

Your life coaching business model is simply the rationale of how your practice creates, delivers, and captures value.

Here’s what each element represents.

Value Proposition

It’s critical to get very clear on your value proposition before you can create value as a new life coach—or before you start trying to scale up as an established practitioner.

You may have done this informally at some stage, but taking the time to solidify your offer is the key to creating consistent value sustainably over time.

You can create your proposition by formulating your promise as a life coach:

• Who (specifically) do you help? Where can they be found? What are the defining characteristics of your dream client?
• What before-state do you help them solve?
• What after-state do you help them achieve?
• What product or service do you use to help them achieve that?

This stage is all about being customer-oriented. If you haven’t created a dream client persona just yet, now is the time to do so as it will help you clarify your life coaching niche .

Value Creation and Delivery

The way you create value will stem from your proposition, and may even overlap with it if you’ve drilled down to the specifics of your offer.

Value creation is all about your product or service, whether that’s:

• One-to-one sessions
• Group or team coaching
• E-courses, learning modules , or workshops
• Information products, or
• Life coaching packages featuring all the above.

This is where you can plan a differentiated or “signature” package that’s tailored directly to your dream clients. It’s also where you can consider free products that help you promote your business, such as downloadable, ebooks, or introductory discovery calls.

Delivery is just what it sounds like, and precisely what we looked at a little earlier. When it comes to how you’ll reach potential clients and how you’ll deliver your offer, consider the following questions:

• Will I offer online, offline, or blended coaching solutions?
• Where can I get in front of potential clients, e.g. what social media, blogs, or podcasts do they use?
• How can I (better) tailor my solutions to their lifestyle, preferences, or needs?

Value Capture

Why did you start a life coaching practice in the first place? Value capture is all about what you  get out of coaching clients.

While you may have got into the field primarily to help others, this is where you think about the following:

• What will my revenue streams be? (There will ideally be more than one!)
• How will my pricing structure look? What differently priced packages/tiers can I offer?
• What costs do I need to account for?

Recommended: How to Become A Life Coach: Best Online Certifications

Creating A Health Coaching Business Model

If this all sounds confusing, here’s how a (very) basic health coaching business model might look:

Career Coaching Business Model: An Example

Let’s zoom in on an example career coaching business model to unpack it a little further.

Consider the following value proposition: “I help ladder-climber CXOs in Vancouver to land a promotion with in-person group coaching sessions and online learning modules.”

Your Value Creation and Delivery elements will of course be different from the health coaching clients in the last example, as your dream clients and expertise vary with the type of life coaching you do.

• A few example key activities might be: a career health check, discovery call, team coaching sessions, workshops, or online classes
• Resources could include: Group coaching package options, a downloadable ebook or worksheets, or podcast episodes, to name a few
• Channels may look more like: LinkedIn, Glassdoor discussion boards, and contributions to Forbes or HRAscend, and
• Tech might include online learning software .

Templates For Your Coaching Business Model

If you’re looking for more in-depth coaching business model templates, check out our full guide to   How To Write A Life Coaching Business Plan: 5 Templates .

You can, of course, use the 3-step example we’ve already considered and create your own in a blank template using Quenza’s Activity Builder as shown above.

A few other helpful resources include:

• This Lean Canvas Coaching Business Model Template from Leanstack [3]
• This collection of Value Proposition Canvases from Edit.org
• This Business Model Canvas Template from Miro.com

A Closer Look: Business Model For Online Coaching

So what do you need to figure into an online coaching business model, if you’re practicing digitally?

A coaching management platform like Quenza makes it extremely easy to plan, manage, and even deliver all your different business model elements from one centralized location.

While you’ll still need to formulate your own value proposition(!), software such as Quenza helps you create and deliver value while differentiating your product.

Quenza offers a unique suite of online coaching tools that allow you to customize your products and solution, while reaching your target audience of dream clients anywhere in the world.

Let’s get specific, though.

11 Benefits of Using Digital Tools In Your Practice

Here’s how Quenza not only helps you configure value, but build your solutions too–and share them seamlessly with your life coaching clients.

With your subscription, you can:

• Design entirely bespoke resources such as life coaching session plans , programs, and life coaching packages—both from scratch or from handy, free Expansion templates.
• Deliver your personal or group sessions asynchronously and automatically by drip-feeding Pathway content to your clients (ideal for e-courses, classes, and learning modules).
• Stay on top of your clients’ engagement and progress with live, HIPAA-compliant results tracking.
• Develop information products, free lead magnets, and other paid solutions for sale on your life coaching website (e.g. habit trackers, gratitude journals , or standalone exercises).
• Brand all of your solutions with your custom practice logo using Quenza White Label .
• Give your clients a free, practice-branded, and multilingual coaching portal app for receiving their solutions, tracking their progress, and downloading your resources as PDFs.
• Chat in real-time with your life coaching clients.
• Manage cohorts with easy-to-use bulk import and export features, group chat, and more.
• Keep notes on all your sessions and programs using Quenza’s private Notes feature.
• Share video, audio, image, and PDF files securely at any time using Quenza Files .
• Keep them on track and motivated using notifications, updates, and reminders, among other client engagement tools.

Best Software and App For Coaches

There is no shortage of different business model templates available online for life coaches, and you’ll also find a wealth of different apps for separate aspects of your planning and execution.

But when it comes to bringing all your plans, resources, and clients together in one connected space, Quenza is by far the best way to manage and grow your practice.

With Quenza, you’ve got all you need to deliver completely custom solutions directly to your clients in the way that suits you both best.

5 Ways You Can Use Quenza With Your Clients

Need some inspiration for your coaching business model? Here are some ways you can use Quenza to bring your strategy to life:

• Develop a screening questionnaire to zero in on your dream clients
• Plan out your signature coaching program using Expansions and resources as Pathway steps
• Design and publish your free products, such as downloadable checklists, “How To” guides, interactive gratitude journals, and worksheets
• Engage clients virtually  between sessions by scheduling homework for automatic delivery,
• Create online learning modules, e-courses, or workshops featuring your personal Vimeo or YouTube files. Use them alongside your programs or as standalone life coaching products!

Final Thoughts

There’s a world of ways to create value, so planning your business model should be an exciting experience, not a daunting one.

Use these tips, frameworks, and examples to get you started, because these are the first steps to turn your day-to-day coaching job into a thriving business!

Don’t forget to start your $1 trial of Quenza for all you need to bring it to life.

Frequently Asked Questions

A coaching business model is the framework that outlines how a coaching business will generate revenue, attract clients, and deliver services. The most common coaching business models include one-on-one coaching, group coaching, and online coaching.

The most common coaching models are: – One-on-One Coaching: This model involves working with individual clients to achieve their specific goals. – Group Coaching: This model involves working with a group of clients who have similar goals or challenges. – Online Coaching: This model involves providing coaching services through online platforms, such as video conferencing or email. – Hybrid Coaching: This model combines one-on-one coaching with group coaching or online coaching.

To structure a coaching business, you’ll need to determine the type of coaching you’ll offer, define your target market, and establish your pricing and service delivery methods. You may also need to consider the legal and financial aspects of your business, such as registering your business, obtaining insurance, and managing your finances.

• ^ Bocken, N. M., Short, S. W., Rana, P., & Evans, S. (2014). A literature and practice review to develop sustainable business model archetypes. Journal of Cleaner Production, 65, 42-56.
• ^ Osterwalder, A., Pigneur, Y., Oliveira, M. A. Y., & Ferreira, J. J. P. (2011). Business Model Generation: A handbook for visionaries, game changers and challengers. African Journal of Business Management, 5 (7), 22-30.
• ^ Leanstack.com. (2021). Lean Canvas. Retrieved from https://leanstack.com/lean-canvas

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How To Write a Business Plan for a Life Coaching Business + Free Example

John Procopio

6 min. read

Updated February 7, 2024

Free Download:  Sample Coaching Business Plan Template

• Turn your passion for helping others into a thriving life coaching business.

As a life coach, you have the opportunity to empower others and help them achieve their goals. And with an estimated industry value of over $2 billion, the demand for life coaches has never been higher. 

Yes, the dynamic world of coaching presents an array of opportunities to guide clients through personal and professional growth. But just as you are developing plans for your clients you need to do the same for your business.

Crafting a solid business plan for your coaching practice will help you clarify your vision and objectives, account for certifications and training, and explore how you need to perform financially in order to thrive in an increasingly competitive market. 

In this guide, we’ll walk you through how to create a business plan for a life, performance, or executive coaching business. You can even download a free one-page coaching plan template to fill out as you go.

• What is a life coaching business?

A life coaching business provides professional coaching services to help clients achieve their personal and professional goals. Life coaches work with individuals or groups to provide guidance, support, and accountability. There are many types of life coaching, including:

• Performance coaching: Enhancing specific skills or talents, such as athletes or musicians.
• Executive coaching: Developing effective leadership skills for executives and business leaders.
• Relationship coaching: Improving communication, conflict resolution, and relationship dynamics with partners, family, friends, and colleagues.
• Career coaching: Advancing careers through skills assessment, resume building, networking, and career planning.
• Life coaching: Taking a holistic approach to improving various areas of life like health, work-life balance, productivity, and personal fulfillment.
• Why you should write a business plan for a life or executive coaching business

A solid business plan is crucial for success in your life or executive coaching business. It helps organize your strategies, identify potential obstacles, and invest in certifications and marketing for growth and credibility. By writing a detailed business plan, you can more effectively allocate resources, set achievable goals, and create a roadmap for success.

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• How to write a life coach business plan

In this guide, we’ll walk you through the key components of a life coaching business plan to help you lay the foundation for a thriving coaching practice. For a walkthrough of how to write the specific sections of a business plan , check out our full guide and supporting articles.

1. Clearly define your offering

To build a successful life coaching business, you must have a precise understanding of your services and how they stand out from the competition. Determine your areas of expertise—whether career, executive, relationship, life, or wellness coaching—and the specific challenges you can help clients navigate. Becoming properly certified and accredited demonstrates your professional competence to clients.

The two top certifying organizations are the International Coach Federation (ICF) and the Coaches Training Institute (CTI). The ICF offers ACC, PCC, and MCC credential levels based on your experience. CTI offers a Certified Professional Co-Active Coach credential. Achieving the right credential for your coaching specialty—such as becoming a Certified Career Coach, Certified Professional Career Coach, or earning a Life Coaching Certification—can maximize your credibility.

With a clear service offering tailored to your target market’s needs and the proper certifications, you will gain the credibility and expertise to help many clients achieve meaningful life changes and reach their full potential. Promote your services boldly by focusing on your areas of specialization, ideal clients, and the specific outcomes you provide.

2. Have specific clients in mind

Speaking of your target market , successful businesses have a clear understanding of their ideal customer and cater to their unique needs.

For example, a life coaching business may target mid-career professionals seeking personal growth or corporate executives looking to enhance their leadership skills. Their needs include developing management skills, thinking strategically, and improving communication. However, you can break this down even further and have market segments such as: 

• Mid-career professionals looking to change jobs or careers. Their needs include identifying strengths and interests, building a strong resume, developing networking skills, and gaining confidence in interviews.
• Young adults transitioning from college into the working world. Their needs include determining a career path, gaining skills and experience, finding mentors, and learning professionalism.  
• Entrepreneurs looking to start a new business. Their needs include business planning, productivity, accountability, motivation, and work-life balance.

3. Create a marketing plan

Developing a strategic marketing plan is vital to building brand awareness and attracting clients to your life coaching business. You’ll need a detailed marketing strategy to maintain a consistent brand identity reflecting your unique coaching style and expertise. 

Strategically choose a few marketing channels, like your website, a targeted social media strategy, and possibly speaking engagements to reach your ideal clients. Run a blog, Substack, or podcast providing actionable advice in your areas of coaching. Submit articles to media outlets your target audience follows and build credibility through these expert placements. 

It’s also important to consider paid media as part of your marketing strategy, such as social media advertising and Google Ads. Monitor your return on ad spend (ROAS) and calculate the lifetime value of a lead to accurately measure the effectiveness of your campaigns. 

With a customized brand and strategic marketing focused on your niche audience’s needs, you will hope to gain visibility, credibility, and quality leads to develop a thriving coaching practice. These are just some of the marketing avenues you may consider exploring.

4. Know your numbers

To build a profitable coaching business you need to understand your financials by monitoring both revenue and expenses closely. Charge what you’re worth based on your experience, certifications, and client outcomes. While gaining momentum, generate extra income through related services. Consider charging for initial consultations to add another revenue stream to your business. 

Here are a few other key things to consider when exploring your numbers:

Track key metrics

Review key metrics monthly, like client retention and profitability. Make adjustments to optimize satisfaction and revenue. Budget for short-term loss but aim for profitability within 6-12 months. Think long-term, progress will take time.

Test your pricing strategy

Explore different pricing models to attract clients with varying budgets. Consider offering packages, retainers, group programs, and online courses, as they provide stability for both you and your clients. 

Keep a close eye on expenses

Assess expenses regularly to minimize waste. Expect costs like marketing, office space (if needed), insurance, and certifications. Budget adequately , reducing expenses will boost profit, and review and refine over time.

• Download your free life coaching business plan template

Now, you’re reading to start creating your business plan. To get started, download our free one-page business plan example for a life-coaching business . For more inspiration, check out our free library of sample plans and templates for service businesses. You can download any of these documents in Word form and get some structure and industry-specific insight for your own plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

John is a seasoned digital marketing leader with over 25 years of experience across SaaS, e-commerce, and content industries. He has a proven track record of driving growth through data-informed strategies that span the entire marketing pipeline.

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The ultimate guide to mapping out a rock-solid coaching business plan.

The 5-Step Roadmap To Create A Highly Profitable Coaching Business Plan Even If You're A New Coach

What's the first word that comes to mind when you see the word "coach" or "coaching"?

If you're a coach - and it doesn't matter whether you're just starting out or whether you've been coaching for decades - there's a high possibility that the words coach or coaching brings to mind things like:

These are all amazing elements of coaching and they're a big part of what you do as a coach and why you're a coach, but there's a word that's missing from that list...

It's the one word that's the difference between a successful coach who can create a ripple effect of positive transformation for hundreds - maybe even thousands or millions - of people and a coach who remains unknown, unseen, and unheard.

So, what's this mysterious word?

The word is BUSINESS.

There's a popular viewpoint in the coaching industry that when you serve with passion, and when you serve from the heart, clients will appear and your business will magically start to grow.

It's like that famous line from the movie Field of Dreams , "Build it and they will come..."

That sounds great in a movie but when it comes to the real world, it's a total lie!

Thinking you can become a successful coach if you put enough heart and passion into your work is one of the most dangerous and flawed beliefs out there...

And it's time to bury that belief for good.

The truth is the fastest, smartest way to become a successful, profitable coach is to create a strategic path for your practice with an awesome coaching business plan.

This Guide will take you through the exact steps you need to map out a rock-solid plan for your coaching business.

The best part? It works no matter where you are in your journey as a coach and unlike traditional business plans that can feel super intimidating and complicated unless you have a degree in business, this one is incredibly simple and absolutely effective.

Remember...

Coaching is a business.

The sooner you understand this fundamental truth, the faster you'll rise up along a profitable, purposeful path that allows you to serve more people and change more lives.

Ready to get started? Let's roll!

The 5-Step Coaching Business Plan

Creating your rock-solid coaching business plan , how to build a successful coaching business.

Ever heard of "Shiny Object Syndrome?" It's something a lot of smart, gifted entrepreneurs struggle with...

It's when you're distracted and sidetracked by countless creative ideas or exciting opportunities that you just can't seem to ignore.

Imagine this...

You have a great idea for an online coaching course around your niche or area of expertise as a coach and you start brainstorming and writing content for the course.

You're deep into your work and just as you're gaining momentum, a great coach you know - maybe someone you met in an online community or live networking event - reaches out to you.

Turns out, they have a great partnership or affiliation opportunity and they think it's perfect for you.

You're instantly struck by Shiny Object Syndrome. You abandon your course creation path and start chasing down this new opportunity with this coach.

A few days - or maybe even hours - later, you're hit with another idea. So you drop everything and start going at that new idea. And then, another idea pops up. And another and another... 

What if you start an online coaching membership ? Maybe you should write a book ? Maybe you should build out a year-long mastermind program? Or start organizing retreats and seminars?

And on and on it goes.

Pretty soon, you've raced down a hundred different rabbit holes, but you have zero results to show for it in your business!

So, let's get one thing straight right here, right now...

Shiny Object Syndrome is a fast-track to failure. A great business plan is the exact  opposite.

A coaching business plan gives you immunity. It protects you from having to chase one good idea after the next because  you already know what your business needs and you'll instantly reduce the uncertainty of how you're going to create revenue.

Think about it...

When you've mapped out a solid business plan and you know how you're going to make money in your coaching practice, you can actually start to predict how much money you're going to make each week, each month and each year.

You can even do this exercise in reverse and create a business plan based on your financial goals and how much income you want to make. So, you set the goal first and then reverse plan to meet that number.

With an awesome business plan in place, you'll be able to direct your energy to the tasks, projects, ideas, opportunities that will work to grow a thriving, sustainable coaching business that brings you satisfaction and a reliable income.

It will give you a clear roadmap of what you need to focus on and how to manage your time better. It will also give you a sense of security to know you will reach your financial goals if you stick to the plan.

Throughout the rest of this Guide, you'll learn the 5 steps to building an awesome coaching business plan that works for you to achieve the goals you desire.

The 5 steps or 5 Cs are:

Conversation

Before we get started on step 1 in the next chapter, let's kickoff with "secret step 0" in the Take Action section below to set the stage.

This is where you identify distractions and take an honest look at your mindset so you can easily create laser focus around building an awesome business plan and an extraordinary coaching business that stands the test of time.

A journey of a thousand miles begins with a single step.

That's an old Chinese proverb.

Your  single step  right now is to do a personal mindset check in and tune up.

Answer the following questions with 100% honesty so you'll be all set to take action and start creating a kicka$$ business plan as you move through upcoming chapters in this Guide.

Question #1

What are your current ideas around growing your coaching business ? This could be things like starting a membership site, building out a group program or anything else that comes to mind.

Note: Writing down your ideas will get them out of your head and help you pick a path that feels good to you as you start to create your business plan in the following chapters.

Question #2

Write down the names of people or places (online and offline) that have the power to distract you from tasks and projects in your business. This could be a good friend who loves to spontaneously invite you out for coffee, it could be endlessly scrolling through Facebook or Instagram or any other social media platform. List as many as you need to. 

Note: This helps you identify your weak spots or triggers to "Shiny Object Syndrome" that take you away from the focus and energy you need to build your business based on a clear plan.

Question #3

What are your minimum, mid-range, and "out-of-this-world-awesome" financial goals for your coaching business each month and each year, for the next 3 years? You should also list out 1 to 3 dream gifts you will give yourself - travel around the world, purchase your fantasy home, make a generous donation to your favorite charity - when you hit each of your financial milestones.

Note: These milestone numbers will give you in depth clarity and unshakeable motivation to build a successful coaching business that lets you live the life you want while doing the work you love.

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How to Write a Life Coaching Business Plan (The Easy Way!)

You’ve been working hard to get your Life Coaching Business off the ground. Now you need to figure out how to market and grow it! That’s where a life coaching business plan comes in!

We’re Cass and Tee , and we’ve been helping coaches succeed for years, as well as being coaches ourselves! We understand the importance of a business plan. This is the most important part of your life coaching business.

Today, we’re going to explore all the steps for creating a simple and effective life coaching business plan. We’ll help you outline what you want to offer in your life coaching business, who your ideal clients are, and what strategies you’ll use to grow your business. 

We’ve even included a template that is ready-to-go for you so all you have to do is fill in the blank. 🙂

Let’s dive right in!

Table of Contents

What is a life coaching business plan, section 1: mission statement, section 2: executive summary, section 3: products and services, section 4: targeted audience, section 5: client needs, section 6: client acquisition, section 7: competitive advantage, section 8: owner passion, section 9: finances, section 10: business goals, final thoughts – how to write a life coaching business plan.

Your life coaching business plan tells you in concrete terms what it is that you wish to achieve from your business. This plan lets you know where you are starting, where you aim to be, and the timescales that you are looking at. It also tells you what resources you need.

It’s an important means of keeping yourself on track with your current plan because you will have an end goal in sight. It will also bring structure to your approach, and encourage you to slow down enough to think about the steps.

You don’t have to write a novel-length plan, however. A short, simple plan is often more effective, and that’s what we are going to show you how to create today.

Get Your Free Coaching Business Checklist!

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Plus, join our email list to stay up to date.

What to Include in a Life Coaching Business Plan

Your mission statement should encompass your business and what it involves. A stranger who picked the document up and read it would know exactly what your life coaching business does and how it does it.

You should think about the following areas:

• What do you do? – What role do you see yourself fulfilling and what problems do you solve?
• How do you do it? – Do you engage your clients face to face, over the phone, via email? What teaching methods do you employ?
• Who do you do it for? – Are you looking to improve life for your clients? Yourself? Your family?
• What value do you bring? – Whose problems are you solving? How are you making things better?

Use this section to explore a bit more about your life coaching business and expand on the previous one. Why have you chosen to start this business? What does the business mean to you and to your customers?

Think about things like:

• What type of business it is.
• What industries it serves.
• What its purpose is.

This will help you to better understand your life coaching business and its position.

In this section of your life coaching business plan, break down your products and the services that you offer to your customers. You should have a good sense of the things that you provide and what they cost, even if this is subject to slight alterations later.

Make yourself a full pricing list for the products you will sell, and a separate list for the materials that you will need to buy, with the cost of those materials alongside. Think about what the products you will have to buy will cost you, and start drafting a budget.

This will help you build your pricing sheet and ensure you are charging enough for the things you plan to sell to your customers.

A good life coach knows their clients intimately, so take some time to think about your ideal clients and who they are. This might be one of the most important steps, so take your time over it and refine it.

Look at the demographics you’re serving and think about how you can speak to them. What social networks do they use online? What sorts of things do they share and engage with? What are the current trends and how can you tap into them?

Build a profile for your client, looking at things like their age, gender, preferences, etc.

Once you have your client profile, you’ll need to start thinking about what problems you are solving for your potential customers. What are the pain points in their lives, and how are you going to make a difference to those points?

This area is about pinning down exactly what your business offers. Be specific and detailed. For example, don’t write:

“I will help people feel happier.”

“I will help people pinpoint what they need to change to feel happier.”

Being specific will ensure you have a strong foundation for your life coaching business.

Next, you will need to think about how you are going to actually attract those clients. How will you let them know about your life coaching business?

You should think about the areas that you can use to promote yourself. Do your customers spend a lot of time in yoga studios, and could you put up notices there? Are you going to advertise on public transport?

Social media is a very powerful promotional tool, but you should also think about tapping into forums and advertising in print.

Once you’ve identified the areas, think about what you will do to attract customers, such as free trials, etc.

Think about what makes you stand out and who you are up against. What sets you apart from the crowd and why?

Make a list of your products and how they differ from products offered by your closest competitors. It isn’t enough to just feel like you are a better coach; you need an edge that makes you a preferable choice for clients.

Make some bullet points of things that make your life coaching business different from the others in your industry, and use these to craft your angle so that you are clearly offering something unique.

You might already know in your head why you are passionate, but write it down in your life coaching business plan. It matters, and putting it on paper is a good way to stay focused on it. Many coaches leave this step out of the business plans, but it’s a really good way to motivate yourself and keep yourself on track.

Once you have written about what drives you in your life coaching business, you should add three bullet points that reflect the top strengths you will bring to it. For example:

• I will show my clients compassion.
• I am an excellent listener.
• I am good at identifying problems.

Few people enjoy looking at the financial side of things but it is important, and you don’t have to go super in-depth here. Simply spend a bit of time thinking about:

• What you want to gain financially from the business.
• What funds you will need to put into the life coaching business and where you will get these.

Write down some of the basic costs of setting up, such as website design, logos, promotional materials, and any training that you require.

It’s very important to know where you are going next, so make sure that you also write down some goals for the future. What are you going to accomplish in the coming months?

You can list as many goals as you like, but you should make sure that you have a six-month goal, a one-year goal, and a five-year goal as a minimum. These will motivate you to keep taking your life coaching business to new heights and stay on task, rather than losing your momentum.

A life coaching business plan is a must-have for any coach. It’s where you outline what you want to do in order to grow your business, how much time you will spend on each task, and what tools you can use to make it easier for yourself. 

To help, we have a free template in our resource library for coaches HERE . Sign up and you’ll see the coaching business plan in the business resources section: 

Let us know in the comments if you download it and use it in your business! Have fun with this process – don’t think of it as work but rather an opportunity to dream big about the future success of your coaching business!

About The Author

Hey! I’m Cass, a brand coach and the Co-Founder & Chief Brand Officer at Lovely Impact, a website template shop for coaches. I help coaches elevate their businesses with beautiful branding and websites. Here on our blog, my content focuses on branding, web design, and storytelling.

Hey! I’m Tee, a brand and marketing coach and the Co-Founder & CMO at Lovely Impact, a website template shop for coaches. I help coaches grow their coaching businesses digitally. Here on our blog, my content focuses on web design, marketing, business, and social media strategy.

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