Hello - thinking of starting a small side coaching practice. Could use a bit of help because I've never thought about opening a side hustle but times are tough with two kids in college.
1. What is the best approach to collecting your fee? Each session? Pay the package cost upfront,? Other, and if so, what is it?
2. How do you collect it? Venmo? Credit card?
3. Do you have to register your business?
Thank you in advance for any guidance.
I've set up a coaching business as a side hustle and it's now my full time gig. Lots of ways to structure your business. Happy to have a chat if you would like to learn more about my path and paths of other coaches.
Pay up front. Venmo or PayPal. Yes register your business. Take a certification course to understand the business and dynamics of coaching. You should disclose to your firm.
Thank you.
1) The payment depends on your offers. Is it a month, 3-month, 6-month package? I can’t tell you exactly how to set-up this because only you can determine the value you bring to your clients and what clients you want to serve. It also depends on the niche you select.
2) I use PayPal and paying up front.
3) Register your business. Get a contract and make sure a lawyer takes a look at it. Include clauses concerning payment, cancellation fees, etc.