You can start a life coaching business on a limited budget, especially if you run the business from home and already have a computer with Internet access. And that's exactly why online coaching has so many benefits. Because you work online, your company offers you flexibility, scalability and the ability to impact thousands of people. Not only that, an online business has low overhead and low startup costs (all you need to get started is a laptop).
In addition, if you start online coaching as a side business when you're 9 to 5 years old, your business is virtually risk-free. I'll tell you what I think are necessary (and unnecessary) investments. All cost estimates are in U.S. dollars.
Maybe you're very proud of your culture, or you make your own cosplay costumes, or maybe you're good at finding a way to quote The Big Lebowski in any conversation. Find more niche fitness ideas. Match the cost of finding out all this with the high cost of advertising, and it will become quite expensive. Check out some of my exclusive training and mentoring programs where you receive top-notch training and personalized attention as you build your business.
To help you, I've also prepared a checklist that you can download to keep track of these potential costs. Next, think about protecting your online business and drafting a legal contract for your customers. For example, it syncs seamlessly with Calendly so that your customers can make a payment while booking their first or next coaching session. For example, LinkedIn is a good bet for professional trainers and Instagram can be a great tool for health coaches.
However, there are still some expenses to start with and many costs associated with the ongoing operation of your business. Too many new trainers invest a lot of money and time in a website in the beginning before starting a business. I knew that in order to stand out as a coach without any kind of online brand recognition, I had to make people realize that I was legitimate. In addition, most new coaches continue to invest in themselves by hiring a coach specifically to help them grow their business more quickly.
With two failed online businesses under my belt, I began to doubt the entire online business world even more. The Academy has an online pricing calculator that helps coaches start to figure this out and determine how much they should charge each month. As the director of the Level 1 program at the Online Coaches Academy, I interact with a lot of new trainers every day and it saddens me to see them investing money in things that won't help them grow their business as they expect. Whether you're doing it yourself or hiring a designer, it's vital that you find your style and maintain consistency across all in-person and online platforms.