Pros & Cons

Start A Life Coaching Business

Pros & Cons

Trying to understand the pros and cons of starting a life coaching business?

Here are all of the pros and cons of selling life coach online:

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 for your 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!
Meaningful business connections You never know who you will meet as a life coaching business. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
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.