Free Life Coach Business Plan
For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials
in this complete free business plan are completely fictitious and may not
match the text of the business plan below. This free business plan demonstration
purposes only. If you are interested in purchasing the completed editable MS Word
and Excel documents for this business plan, please click the button below! Also,
the text of the business plan is formatted with a fully automated
table of contents.
It should be noted that there is no special software required to use these
templates. All business plans come in Microsoft Word and Microsoft Excel format.
Each business plan features:
- Excecutive Summary
- Company and Financing Summary
- Products and Services Overview
- Strategic Analysis with current research!
- Marketing Plan
- Personnel Plan
- 3 Year Advanced Financial Plan
- Expanded Financial Plan with Monthly Financials
- FREE 30 Page Sample Private Placement Memorandum
- FREE PowerPoint Presentation for Banks, Investors,
or Grant Companies!
- All plans are updated for 2013!
1.0 Executive Summary
The purpose of this business plan is to raise $50,000 for the development of a life coaching service while showcasing the expected financials and operations over the next three years. Life Coach, Inc. (“the Company”) is a New York based corporation that will provide life coaching services to its client base in its targeted market. The Company was founded by John Doe.
1.1 Products and Services
As stated above, the business intends to provide life coaching services to middle management and senior management professionals. The Company, via independent contractors, will employ life coaches with a broad scope of knowledge with a focus on life coaching, career counseling, and dealing with personal day to day issues. The Company intends to provide these services from the comfort of the customers’ homes rather than developing a formal facility. At the onset of operations, Mr. Doe intends to develop referral relationships with area schools, corporations, psychologists and, guidance counselors in order to generate immediate revenues. The third section of the business plan will further describe the services offered by the Life Coach.
1.2 The Financing
Mr. Doe is seeking to raise $50,000 from as a bank loan. This business plan assumes that the business will receive a 10 year loan with a 9% fixed interest rate. The financing will be used for the following: • Financing to develop the Company’s office location. • Financing for the first six months of operation. • Capital to purchase a company vehicle. Mr. Doe will contribute $10,000 to the venture.
1.3 Mission Statement
Life Coach, Inc.’s mission is to become the recognized local leader in its targeted market for life coaching services.
1.4 Mangement Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the life coaching and consulting industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Mr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Mr. Doe intends to implement marketing campaigns that will effectively target individuals and small/medium sized businesses within the target market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Life Coach, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Life Coach requires $50,000 of debt funds. Below is a breakdown of how these funds will be used:
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of Life Coach, Inc.
2.5 Exit Strategy
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Life Coach. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
3.0 Products and Services
Life Coach, Inc. will provide its enrolled colleagues with a plethora of services that relate to proving comprehensive advice as it relates to providing individuals with advice as it pertains to managing their day to day lives or finding a career that is most suitable for them given their level of education and work background. The Company will generate fees on a per hour basis from the ongoing charges as it relates to providing these services to the general public.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the life coaching and consulting industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue for a significant period of time at which point the economy will begin a prolonged recovery period.
4.2 Industry Analysis
Currently, there are 5,500 organizations that provide life coaching services that are not offered as part of a licensed counselor or psychologist’s services. Among these businesses aggregate revenues have exceed $2 billion dollars per year for each of the last five years. The demand for specialized life coaching has increased significantly as careers and life has become more complex over the past ten years for the average American worker and family. The industry is expected to have an annualized growth rate of 8% per year during the next five years. This level of growth may tapper off as licensed counselors and other members of the mental health industry provide these services as well.
4.3 Customer Profile
The Life Coach, Inc.’s average client will be a middle to upper middle class individual living in the Company’s target market. Common traits among clients will include: • Has a family with two children • Annual household income exceeding $50,000 per year • Is seeking to provide their children with assistance for advanced career counseling advice.
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition
5.0 Marketing Plan
Life Coach intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of Life Coach, Inc.
5.1 Marketing Objectives
• Establish relationships with schools, guidance counselors, and corporations within the targeted market.
• Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper advertisements, and word of mouth advertising.
• Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
5.2 Marketing Strategies
Mr. Doe intends on using a number of marketing strategies that will allow Life Coach, Inc. to easily target the demographics outlined in the previous section of the business plan within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public. Life Coach, Inc. will also use an internet based strategy. This is very important as many people seeking local services, such as outsourced life coaches, now the Internet to conduct their preliminary searches. Mr. Doe will register the Life Coach with online portals so that potential customers can easily reach the business. The Company will also develop its own online website which will showcase the services offered by the Life Coach, its advisors, preliminary pricing information, and relevant contact information. The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the outsourced life coaching that the Company is selling.
In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
6.3 Management Biographies
In this section of the business plan, you should write a two to four paragraph biography
about your work experience, your education, and your skill set. For each owner or
key employee, you should provide a brief biography in this section.
7.0 Financial Plan
7.1 Underlying Assumptions
• Life Coach, Inc, will have an annual revenue growth rate of 16% per year.
• The Owner will acquire $50,000 of debt funds to develop the business.
• The loan will have a 10 year term with a 9% interest rate.
7.2 Sensitivity Analysis
The Company’s revenues are moderately sensitive to changes in the general economy. To many people, life coaching and career counseling are an absolute necessity, and only a more severe economic recession would result in a lower revenue base for the business. Additionally, Mr. Doe will strive to keep the costs of his Company’s services low, and as such, the business will be able to thrive despite the current deleterious economic conditions.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis