Building a successful and profitable health coaching business begins with laying a solid foundation. Once you’ve determined how best to distinguish yourself in the marketplace, identified who you want to work with and what you want to help them achieve, and clearly articulated your “why,” you can move on to constructing the framework of your business.
While the foundation is a vital part of any house, people ultimately buy the structure that sits on that foundation. Your framework can be thought of as the house itself; it is what your potential clients will “see” and imagine themselves living in. A well-designed framework will help keep your business efficient and profitable.
Three fundamental elements combine to form a strong framework:
Your methodology can be described as the “what” and “how” of delivering your health coaching services. You should make these decisions while being mindful of the specifics of your target market, as this will lead to personalized and improved coaching and, consequently, a more successful and profitable business.
Questions to ask yourself include, but are not limited to:
- Will you use in-person, virtual or hybrid delivery methods?
- What connection points will your offer within your health coaching program?
- Will web and/or mobile apps be used and, if so, how?
- Will you use wearables with your clients and, if so, how?
- What will be unique about your method that is especially valued by your target market?
Pricing is a reflection of value. Appropriate pricing is based on the value you bring to the target market you’ve chosen given the methodology you utilize. When determining pricing, it’s important to also think about your short- and long-term financial needs, as well as the costs associated with running your business.
Here are a few additional considerations:
- What pricing model will you use (e.g., fixed, bundled, session-based, monthly)?
- Will you have a guarantee of some sort?
- Will you offer discounts of any kind, based on delivery method, time length, referral or group?
- How will your prices ensure sustainability and profit margin to continue doing your work?
An Intentional Practice
Health coaching is a skillful blend of art and science. The work is highly dynamic and non-directive. Instead, it’s client-centered and requires health coaches to traverse complex multifactorial conditions with their clients who are seeking sustainable behavior change. Therefore, the most critical element of a successful health coaching business is the mastery of the art of coaching.
Here are a few considerations to help you set up an intentional practice:
- What process will you create to practice and expand your coaching skills continually?
- What plan will you follow for an initial session, a first session and a discovery session?
- How will you manage communication and additional touch points and with your clients?
- How will you monitor a client’s progress while maintaining professional boundaries?
- How and when will you evaluate your methodology to ensure you are using the most up-to-date tools?
A successful and profitable health coaching business must be built with long-term stability and profitability in mind. Passion and purpose are imperative, but without a proven plan, it’s like building your home without a blueprint; it’s unlikely that you’ll end up with the home you envision. Following these steps may help you build your dreamhouse—a health coaching business that is welcoming to clients and will stand for years to come.
Brown, B. (2018). Dare to Lead: Brave Work. Tough Conversations. Whole Hearts. New York: Random House.
Miller, W.R. & Rollnick, S. (2013). Motivational Interviewing: Helping People Change (3rd ed.). New York: Guilford Press.