In this article, you will find a sample life coaching business plan that will provide you with a basic overview of the structure of a business plan and what you should include in it. It serves as an outline to follow and provides valuable information to use when creating your own plan.
Business Plans Aren’t One-Size-Fits-All
Every business plan is unique, and every life coaching plan will have similarities, but will also have significant differences. A business plan is not a one-size-fits-all document.
A sample is just that – a sample, a template, a detailed outline that one can follow to create their own business plan. Sample life coaching business plans serves as reference guides when writing a unique plan for your own practice.
A Sample Life Coaching Business Plan
This sample is separated into sections, and what is included in each section will be unique to your situation and business. You may need all these sections or you may only need some of them. Before eliminating a section from this section, pause and think – make sure that this particular section does not apply to your business.
Over the years JTS Advisors and Master Coach University has regularly planned out the year ahead in a three step process, ultimately rendering annual business plans for our coaching businesses. I’ve added some of our past business plans below for reference (you’ll notice how they evolve over the 10+ years that these business plans span):
…..2010 .. 2012 2013 ……… … 2015
The words won’t be filled in exactly the way you’ll need to, and the details will require some updating, but these sample business plans for a life coaching business will give you the basic structure and what items to include.
Use this sample life coaching business plan to give you a framework and get you started on creating your founding documents for your life coaching business.
Business Overview
What type of business will you be – corporation, LLC, sole proprietorship, etc. What type of coaching will you do? Will you be a one-man shop, or will you have partners or employees?
Industry Overview
This section will take a little research. Find information on the types of coaching (similar to yours) in your area. Is demand growing? Does supply outstrip demand or is supply lacking?
Mission Statement
This should be a one or two sentence section on why your practice exists. The best mission statements are concise, clear, and memorable. It clarifies the “what” and “who” of the company.
Vision Statement
This is a future-oriented declaration of your practice’s purpose and aspirations. What long-term impact do you want your coaching to have on individuals, the community, and the world!
SWOT
There are many variations of this, but SWOT is the easiest. S – strengths; W – weaknesses; O – opportunities: T – threats. If a sample life coaching business plan doesn’t have SWOT or something similar, it’s probably not a great sample!
Target Market
Who do you want to coach? How large is the target market? What are the demographics? Do they have the disposable income to afford your services and help you prosper?
Competition
This can be covered in the “threats” component under SWOT. However, you can go into more detail here – analysis of the competition, the fees charged, the potential to capture a larger segment of the market, and many other considerations.
Marketing
This is the most dreaded section on the business plan, and often the most dreaded part of any coach’s life. However, this section is necessary and should be detailed. It should contain ways to market, and ways to measure and assess the effectiveness of various marketing strategies.
Other Opportunities
A good sample business plan will have this section – a listing of additional sources of income that can be explored in the future as you establish your coaching practice and reputation.
Would you like an endless stream of new coaching clients? Simply click the image to the right and email and I’ll send you free videos with step-by-step blueprints for generating a massive income from high paying coaching clients.
Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community
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