Start your coaching business

DISCLAIMER: All information outlined below is to assist you in getting started. Research further before making your own decisions. Recommendations are via coaches and not endorsed by Aspire Coach Training.

Start your own business course

Business Plan

Accountant

  • Helpful for setting up company, paying tax, doing annual returns, invoicing capability…
  • Many will give a high level service and introduce you to some simple self-service Accounting software so the cost is lower
  • To set up a company & manage accounts can cost between €500-1500 depending on needs
  • Seek out local Accountants that are recommended or https://www.taxassist.ie/
  • Recommendation 1 : BCA Accountants – contact is Caroline McGrath. Email : carolinemcgrath@bca.ie
  • Recommendation 2 : Nadine Bragg. Email : nadine@jbyrneassoc.ie

Sole Trader or Limited Company?

Registering a company

Revenue & Tax

Should you register for VAT

Banking

  • Setup a business bank account and get online banking etc. setup

Small Business Loan

Professional Indemnity Insurance

Logo / Brand Image

  • Can use free software to create your own for example: https://www.canva.com/
  • Recommendation: Jeri McMahon (jerimahon@gmail.com) Can build your brand image – font, colours, logo etc. Cost 80 euro per hour, usually takes 3 hours

Hosting, Website & Email

  • Companies such as OVH, Blacknight, Hosting Ireland, Host.ie etc.
  • Can get domain name, 5 email addresses, hosting of website and free WordPress or Wix (or equivalent) website building software for approx. €100 per year
  • For Domain name, can choose .com, .ie or something else depending on your business name, price, availability etc.

Website

Pricing

  • Interesting calculation : consider income (after expenses), the number of hours you want to work and you can calculate a target € per hour that you need to earn.
  • You will be doing preparation and wrap up work which you won’t be charging for so consider that in your calculation.
  • Depending on the work, the € per hour varies (eg. life v career v Exec coaching etc. and also who is paying : Individuals v Companies).
  • Maybe consider a portfolio of work so the € per hour evens out to a number you can live with

Marketing

Tools for the Job

  • It May be worth investing in laptop, sound equipment, software (Zoom, Calendly, Notes Plus etc.)
  • Consider office furniture, stationary, broadband upgrade
  • Memberships of useful organisations : ICF, Chambers of Commerce etc. Also attendance at conferences or events.

Elevator Pitch, Bio, Proposals & Contracts

  • Prep your Elevator pitch and Bio
  • Proposal : Outline who you are, your services and pricing when pitching after Chemistry meeting
  • Contract : Your terms of Business that the Client signs after they agree to the Proposal. Complete before 1st session

Psychometrics

  • If going down the career, business route, may be worth getting certified to deliver certain psychometrics
  • Examples : Meyers Briggs, EQi, Insights, Hogan, Forte and many more. Maybe just get 1 to get started but not necessary. Bigger companies generally have their own preference

And don’t forget to enjoy the process and have fun!

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