This sample life coach business plan contains a detailed operating and marketing plan for a life coaching business, including life coaching services, target market, marketing strategies, competition, and financial projections.
It is a downloadable coaching business plan example that is available as a Google Doc, which can be used in Microsoft Word, Apple Pages or as a PDF.
How to Use This Life Coach Business Plan to Get Clients
Each section this sample life coach business plan contains two parts:
- Coaching Business Plan Template – This includes details on what to put into each section of your business plan.
- Sample Coaching Business Plan Text – This part provides actual text from a real coaching business plan example that you can modify (or leave as is) for your plan.
Since most coaching businesses are started by individuals working as sole practitioners, I’ll focus on one-person businesses in this sample life coaching business plan. You can easily modify this plan if you have partners or are part of a management team. Just replace “I” with “we” and other plural forms.
I’ve also included an overview of financial projections in this coaching business plan example to help you chart a path to starting a coaching business.
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Sample Life Coach Business Plan
Let’s start with the sections that make up your life coaching business plan. I include sample text below the description of what to focus on within the section.
The first in your business plan introduction to frame your coaching practice.
1. Coaching Business Plan Executive Summary
While there are many different elements that can be included in a coaching business plan, the Executive Summary is one of the most important. This section should provide a brief overview of your coaching business, including your life coaching services and target market.
Additionally, the executive summary should highlight your key differentiators and explain why your coaching business will be successful.
Most Executive Summaries are at most one or two pages. As a sole practitioner for a life coaching business, your summary can be as brief as a few paragraphs.
Sample Life Coach Business Plan Executive Summary
As a life coach, I am excited to offer my coaching services to help people reach their personal and professional goals. My coaching business plan includes a variety of services that are tailored to each client’s individual needs.
I offer one-on-one coaching, group coaching, and corporate coaching services. I also provide coaching resources, such as books, audio programs, and online courses.
My coaching business is based on the belief that everyone has the potential to achieve their dreams. I am committed to helping my clients reach their full potential through my life coaching services.
Coaching is a very personalized business. Clients need to have a strong rapport with their life coach in order to realize their goals. They also need to trust their coach. To build and maintain that trust, I will build my brand identity and create awareness of my coaching services using content marketing.
This includes SEO keyword research to identify the ideal keyword terms that my target market searches for. I will optimize my local SEO presence on Google and use these keywords as the foundation to launch a social media campaign.
Since I am a sole practitioner, using outside resources will allow me to make the best use of my time. I will take advantage of pre-written content designed for coaches, which I can tweak to include my personal notes and experiences.
Doing so will enable me to go to market faster and maintain my online presence without sacrificing the time I need to provide actual life coaching services to my clients.
2. Coaching Business Plan Company Description
The Company Description section of your life coaching business plan should provide an overview of your coaching business, including your coaching services, target market, and business structure.
This section can also include information on the history of your coaching business and any significant milestones that you have reached.
It is okay to repeat a little bit of what you included in your executive summary in this section. Here you’ll have the opportunity to describe your company in greater detail.
Sample Life Coach Company Description
Life Coaching is a process that helps people identify and achieve their personal and professional goals. As a life coach, I help my clients get clear on what they want to achieve and create a plan to make it happen.
I specialize in working with entrepreneurs, business professionals, and business students who are seeking clarity and direction in their lives to achieve professional satisfaction. My coaching services are tailored to each client’s individual needs and include one-on-one coaching, group coaching, and corporate coaching.
My life coaching business is based on the belief that everyone has the potential to achieve their dreams. The key to my success is my ability to ask poignant questions that elicit deep thinking in my clients’ minds. I want them to see what life can be like out of their comfort zone while being in a safe space with our conversations.
By using before/after scenarios as one of my techniques, I can help clients remove self-inflicted limits they impose on themselves. Most of the time, it is these limitations that prevent individuals from growing and creating meaningful experiences that result in greater happiness.
3. Life Coach Business Plan Services Offered
The next section of your coaching business plan should describe the services you offer in more detail. What type of coaching do you provide? What are the differentiators that make your coaching services unique? If you have a website for your coaching business, this is also a good place to include the URL.
The Services Offered section of your life coach business plan should provide an overview of the coaching services that you offer. This can include information on the types of coaching services you offer, such as one-on-one coaching, group coaching, or corporate coaching.
You should also include information on the format of your coaching services, such as in-person sessions, phone calls, video calls, or online courses. In this section, you’ll have the opportunity to describe your coaching services in greater detail and explain how they will benefit your clients.
Sample Life Coaching Services Offered
I offer a variety of life coaching services that are tailored to each client’s individual needs. My coaching services include one-on-one coaching, group coaching, and corporate coaching. I also provide coaching resources, such as books, audio programs, and online courses.
My one-on-one life coaching services are designed to help my clients achieve their personal and professional goals. We will work together to identify your goals and create a plan to make them happen. My goal is to help you gain clarity and confidence so that you can live the life you want.
My group life coaching services are designed for people who want to achieve their goals with the support of others. Group life coaching is a great way to get accountability and feedback from others who are striving to reach their goals. My group life coaching programs are available both in-person and online.
My corporate life coaching services are designed to help businesses achieve their goals. I offer a variety of corporate life coaching services, such as team building, goal setting, and conflict resolution. I also provide life coaching resources, such as books, audio programs, and online courses, to help businesses reach their full potential.
For those clients who prefer a self-paced approach, I provide coaching resources, such as books, audio programs, and online courses. These serve as stepping stones to acquire one-on-one or group coaching customers.
4. Coaching Business Plan Target Market
The Target Market section of your life coach business plan should provide an overview of the people you want to work with as a life coach. This can include information on the demographics of your target market, such as their age, gender, location, or income level. You should also include information on the needs of your target market and how your life coaching services can help them.
It is important to focus on a niche rather than offering generic services.
Life coaching as an industry is booming so prospects may not be able to determine who is the best life coach for them. When you focus, your marketing efforts can be customized to the niche you specialize in.
Think of it this way: if you were to build a patio for your house, would you hire a general contractor or a patio specialist? A general contractor remodels kitchens and bathrooms and will likely not be as familiar with the latest trends on patios. A patio specialist, however, will be versed in the best materials, designs and considerations for patios.
You would pick the patio specialist no doubt.
Similarly, your life coaching business plan should focus on a specific target group so that you become known as a specialist for your niche.
Sample Life Coaching Target Market
Given my strong background in corporate and executive leadership, I specialize in working with entrepreneurs, business professionals, and business students who are seeking clarity and direction in their lives.
The career paths of my clients typically hold a special place as part of their holistic identity. I focus on helping them see a vision of themselves that feels true and help them break limiting habits and beliefs. My goal is to assist clients in creating unbounded opportunities and new habits that foster growth.
My life coaching services are designed to help my clients achieve their professional goals and gain fulfillment in their personal lives.
5. Coaching Business Plan Pricing Strategy
The Pricing Strategy section of your life coach business plan should provide an overview of how you will price your life coaching services. This can include information on the rates you charge for your services, as well as any discounts or packages you offer. You should also include information on how you determine your pricing, such as by the hour, by the session, or by the project.
Sample Life Coaching Pricing Strategy
I charge $150 per hour for my life coaching services with a 2 hours per month commitment for a minimum of 3 months.
If prospects prefer a shorter term or have a lower budget, I refer them to my online coaching program. This is a self-paced video series that offers tips and insights for individuals to help themselves. While these online resources are “hands off” and not as effective for individuals looking for real transformational change in themselves, they provide an opportunity for me to build my brand.
They also provide prospects with an opportunity to experience what it could be like working directly with me without making a larger financial commitment. My online courses are priced at $297 and $497, respectively, for a 3-month or 6-month self-paced course.
I offer group coaching at the rate of $200 per month per individual. This includes a two-hour session each month in a group of no more than 8 people. I also maintain the same 3-month commitment.
This way, group members can hold each other accountable for commitments they make in prior monthly meetings. This added bond increases the likelihood that new clients will become long term clients.
For corporate clients, I charge $2000 per month per group of up to 6 members. This allows an organization to experience group coaching tailored to improving employee productivity and satisfaction. This is the fastest growing segment of my coaching business because employers are struggling to retain top performing employees due to “The Great Resignation” which is affecting company output.
In a post-COVID world, I offer my life coaching services both in-person as well as virtually. Groups will meet either virtually or in-person for consistency, but not both. For example, an individual may not choose to attend an in-person meeting virtually because that breaks the rapport-building process that is integrated into my group coaching sessions.
6. Life Coach Marketing
As a life coach, it is important to have a marketing strategy in place to get clients. The Promotion and Marketing Strategy section of your life coach business plan should provide an overview of how you will promote your life coaching business. This can include information on the marketing channels you will use, such as online advertising, social media, or public relations. You should also include information on your branding strategy and how you will position yourself in the life coaching market.
Here are 10 marketing ideas to help you get started. Use these as fodder to create your detailed life coach marketing plan, which is the true heart of your business strategy.
Sample Life Coach Marketing Plan
This life coaching marketing plan will not focus on paid advertising, which is a flooded market. Instead, it will leverage the untapped and insatiable market for educational content to help people achieve their personal and professional goals.
The tactics presented below, when done in unison, will generate a steady flow of qualified leads into my lead generation pipeline.
- Develop a website. Aside from my Google Business Profile, my website will be one of the main ways clients learn more about my services. I will use the side not only to share information about my coaching packages, but also – and more importantly – to share my thought leadership content that I create. I will offer a few free guides and checklists to convert website visitors into prospects using a Optin Monster lead capture form.
- Create a social media presence. I will create a Facebook and LinkedIn page for promoting my content (see below) to my target market. As I ramp up in sales, I will explore paid advertising on these platforms, but as the initial effort I will use SEO and content marketing to grow my business.
- Acquire private label rights (PLR) content. I can use this material as a starting point to create social media posts, videos, online courses and articles. I will purchase credits from PLR. This is like having a content marketing writer on staff to produce the material that will propel my name as a coach into the marketplace. This inexpensive way to generate content will make my marketing efforts more efficient because I am a sole practitioner and need to optimize the use of my time.
- Search Engine Optimization. Using the free detailed SEO for Life Coaches guide provided by MoreBusiness.com, I will identify specific keywords related to my niche. This will allow me to quickly tweak the PLR content to create unique content to promote my coaching business. While most other coaches rely heavily on paid advertising on Google and Facebook, I plan to take advantage of the long-tail keyword strategy. This approach targets the numerous “low keyword difficulty” and “high search volume” phrases that my prospects use daily to find coaches like me. This will result in significant cost savings as I ramp up my marketing efforts. I will be able to tap into organic search traffic that continues long after the investment to create it.
- Publish regularly. As part of my branding efforts, I will publish my unique content on my blog and social media channels, including my Facebook page. By sharing my expertise and coaching tips, I will attract potential clients who are interested in my messages. I will use Canva to create attractive designs and schedule social media posts.
- Claim my Google Business Profile. For local SEO, claiming my Google Business Profile will enable me to have a presence that can show up on Google Maps when prospects search for life coaching services. Doing so will display my hours of operation, new blog posts, and send other marketing signals to reach my audience.
- Use online directories. Online directories can help me reach a wide range of prospects. In fact, adding my business to specific directories will dramatically enhance my potential presence on Google Maps when nearby prospects search for life coaching services.
- Speak at events. Getting involved in speaking engagements is a great way to build my reputation and attract new clients. I will reach out to 10 new associations each quarter in order to land a minimum of one speaking engagement that puts me in front of an ideal audience. I will also attend local events to network with business leaders who may be looking for coaching options for their staff.
- Teach workshops and webinars. An offshoot of speaking engagements, hosting my own workshops and webinars will provide an additional way to reach prospects. For my webinars, I will use EasyWebinar to create an automated webinar option that allows prospects to view the webinar on demand. New leads will receive my automated drip email sequence and become part of my email newsletter campaign to stay in touch.
- Create an e-newsletter. To stay in touch and nurture these new leads, I will send helpful tips, articles, and resources in my e-newsletter. This way, my brand will remain top-of-mind even for those prospects who are not yet ready to commit to a coaching program.
- Offer free consultations. An initial free consultation is traditionally a great way to introduce potential clients to my life coaching services. This allows prospects to experience my coaching services and build rapport so they become long-term clients.
The marketing strategy tactics listed in this life coaching business plan may seem like quite a bit for an individual practitioner to tackle. However, most involve an initial investment of time to set up and then run via automations.
By leveraging PLR coaching content published through the lens of long-tail SEO keywords, I will be able to quickly gain exposure to the market I intend to reach. This will build my sales faster than other coaches competing for similar clients.
7. Life Coach Business Plan Financials
The Financials section of your life coach business plan should provide an overview of your business finances, including your income, expenses, and profits. This can include information on your pricing strategy, as well as the costs of running your life coaching business. You should also include information on your financial goals and how you plan to achieve them.
Sample Life Coach Financials
In the next 12 months as I ramp up my coaching business, I expect to generate $100,000 in revenue. My expenses will total $20,000, resulting in a profit of $80,000.
Revenue will come from the following sources:
- Online courses: $19,000 – estimated 40 sales at $297 and 15 sales at $497
- eBook sales: $2,000 – estimated 80 sales at $25
- Individual Coaching: $20,000
- Group Coaching: $35,000
- Corporate Coaching: 45,000
As I build my reputation as a life coach, I will add new courses and focus more on corporate and group coaching. These two revenue streams generate a higher profit margin than individual coaching clients.
8. Coaching Business Plan Conclusion
The conclusion of your life coach business plan should summarize the key points of your business plan and explain why you believe your life coaching business will be successful. This can include information on your target market, your unique selling proposition, and your plans for promoting and marketing your life coaching business.
Sample Life Coaching Business Plan Conclusion
I believe my life coaching business will be successful because I am passionate about helping people achieve their goals and have laid out an achievable marketing strategy.
My plan incorporates my strengths and capitalizes on using outside resources, such as private label content and SEO training for myself to increase my footprint quickly. I have a strong understanding of the life coaching market and I am confident in my ability to promote and sell my services. I have realistic financial goals and I am committed to making my life coaching business a success.
Starting Your Life Coaching Business
This comprehensive life coach business plan provides a solid foundation for you to create your own plan. As you know, getting clients for your coaching business will likely be your most challenging startup task.
Use the specific life coach marketing tactics presented here to create awareness and attract qualified prospects. Don’t follow the beaten path: Facebook advertising. Instead, make sure you tap the underutilized strategy of SEO keyword research.
The MoreBusiness.com SEO Coaching program can provide you with the exact steps and research to get your business up and running fast.
Author: Raj Khera, SEO Coach and Publisher of MoreBusiness.com