Business Idea

Start A Life Coaching Business

About

Starting a life coaching business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell life coach, or selling life coach online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a life coaching business ➜

Key stats

market size
$2B
revenue (monthly)
$24.8K
starting costs
$25.1K
gross margin
32%
time to build
8 months
growth
Word of mouth
business model
Media Business & Subscriptions
time investment
Side project

About

Starting a life coaching business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell life coach, or selling life coach online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a life coaching business ➜

Key stats

market size
$2B
revenue (monthly)
$24.8K
starting costs
$25.1K
gross margin
32%

 

time to build
8 months
growth
Word of mouth
business model
Media Business & Subscriptions
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $35 $3,250
Employee & Freelancer Expenses $0 $5,500
Equipment & Supply Expenses $500 $5,000
Website Costs $232 $6,500
Business Formation Fees $5,600 $20,400
Software Expenses $150 $3,044
Total Startup Costs $6,517 $43,694

Successful Businesses

Business URL Rank
myHerbalife myherbalife.com #4,765
GrowthMentor growthmentor.com #59,752
Grow Your Agency growyouragency.com #93,774
webs.co.com webs.co.com #96,656
Co-Active Training Institute coactive.com #141,945
Life Coach Hub lifecoachhub.com #291,795
Life Coach Training Institute ilifecoachtraining.com #334,635
Axialent axialent.com #413,200
Erickson Coaching International erickson.edu #445,185
unknown liveeditaurora.com #448,628
LifeCoach.com lifecoach.com #616,588

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a life coaching business costs significantly less money than most businesses, ranging anywhere from 6,517 to 43,694.
Rewarding work Starting a life coaching business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services within your life coaching business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your life coaching business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your life coaching business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A life coaching business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Marketing Ideas

  • 1

    Direct sales

    You may find yourself in a spot where you're ready to hire a few (or many) salespeople to support the sales conversion process. Regardless if you have one or thirty salespeople, it's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 2

    Word of mouth

    The most tried and true way to grow a life coaching business is through word of mouth - some entrepreneurs would say it's more important than all social media.

  • 3

    Advertising on social media

    Social media advertising is one of the leading ways to get the word out when it comes to life coaching business.

    There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

    Learn more about advertising on social media ➜