Use a Sample Business Plan for Life Coaching

You can find a sample business plan for life coaching with a few simple clicks of your mouse. However, it is important that you don’t merely copy and paste. A sample business plan is a great tool to use as a guide, but your business plan should be unique to you and your life coaching practice.

Sample Business Plan for Life Coaching
Sample Business Plan for Life Coaching – kchung © 123RF.com

Own Your Business Plan

Life coaching business plans will have several similarities, but they should also have some significant differences. Using a sample business plan for life coaching doesn’t mean your business is the same as the life coach down the street.
A sample is merely a template or a guide to use when creating your own plan. The sample is used for formatting purposes, section ideas, and inspiration for content. Remember – don’t copy and paste!

Sample Business Plan for Life Coaching

Here it is – a template you can use when creating your own business plan. It makes it much easier when you have a template; however, you still need to put in the time and effort to write an effective and useful business plan.

Use this sample business plan for a life coach to give you a framework and get you started on creating the founding documents for your life coaching business.

General Business Overview

This is like an introductory paragraph. What type of business will you be – corporation, LLC, sole proprietorship, etc.? Will you be working within a specific niche? Will you be hiring any other coaches or employees?

Mission Statement

The best mission statements are concise, clear, and memorable. This is the “what” and “who” of the company. Why does your practice exist? This statement doesn’t need to be long – merely a few sentences.

Vision Statement

What long-term impact do you want your coaching to have on individuals, the community, and the world! Where do you want your practice to be in three, five, or ten years? This should be another short, concise statement of purpose and future goals.

Target Market

Whether you want to be a general life coach, or more of a niche coach, you need to define your target market. What are the characteristics and demographics of your market? Is the market big enough? Do they have the disposable income to afford your services and help you prosper? Every sample business plan for life coaching needs to have a section on target markets and industry overview (competitors, industry needs, demand, etc.).

SWOT

SWOT is: S – strengths; W – weaknesses; O – opportunities: T – threats. There are many other ways to express these very important items, but SWOT is one of the easiest and clearest. This information should give you a good picture of who you are as a coach, where you are as a coach, and what else you need (training, certifications, etc.) to be a successful coach.

Marketing

Marketing – most coaches hate to market. That’s why you need a plan. If you don’t want to market and promote, a business plan can detail ways t9o hire others to promote for you. Every simple business plan for life coaching should have a section on marketing; if not, go find another sample business plan!

Alternative Steams of Income

One of the great things about coaching is the ability to apply your knowledge and expertise to other opportunities. This section should list some of the opportunities, such as books, DVDs, seminars, group coaching, and more. A useful sample business plan for life coaching must have this section, and your business plan needs this so you can expand your business in the future.

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

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

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

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