As silly as it sounds, it is important to say that before you start a coaching business, become a coach. Initial training is often a 30-hour program, so continue on for the next level so you are qualified for membership and also then join the International Coach Federation.
Once you are trained as a coach and want to start your business, decide whether you will incorporate or acquire a business license. Check on your local and regional requirements. In the United States for example, each state has a Secretary of State office and website with information on the different types of licenses and corporations, plus information on how to get it and what it means for your business. To complete this process requires choosing either a business name or electing to use your own name.
Next, set up your infrastructure. If you are a US based corporation this involves getting an employer identification number. Open a business bank account. Decide if you will manage your own accounting or hire someone. Determine what insurance makes sense for your business. Choose how you will take payments from clients.
Infrastructure also refers to having an office. Be sure your work space is private and comfortable to be in. Include having a good computer, internet connection, and telephone system. Develop your coaching agreement and other forms you plan to use. Outline your process for explaining coaching, signing clients, and the coaching relationship.
Business Plans help you organize your thinking, your efforts, and prepare for your strategies. Include in this a Marketing Plan. The length of these documents is based on what will serve you as the business owner and also the person making it happen. A multitude of resources are available online and many are provided at the Center for Coaching Certification on the coach login page for graduates.
Once you have your business set-up, it is time to get clients.