The global online coaching market is booming and is estimated to reach USD 4.6 billion by 2030 (Source:growthmarketreports.com). As the coaching industry continues to grow, so does the demand for online relationship coaching services. With increased divorce rates, communication breakdowns, relationship problems, breakups, infidelity, etc. there is a growing demand for reliable online relationship coaching platforms.
With the advent of technological advancement, the online platforms for relationship coaching services are growing in popularity as they are convenient for all the stakeholders involved in the coaching ecosystem. Moreover, these platforms offer trusted and personalized guidance to nurture relationships at everyone’s convenience.
Considering the increasing demand for online relationship coaching platforms, if you are an entrepreneur looking to tap into the growing potential of this niche, now is the perfect time to start such a venture. In this article, we share insights on how you can build your own relationship coaching platform, key considerations, essential features, and the total cost of development.
But before that, let’s explore the competitive landscape of this niche and gain some information about popular relationship coaching platforms in the market.
The increasing demand for online relationship coaching platforms has prompted several pioneers to expand their businesses exponentially. Here are some of the online relationship platforms that have gained significant traction in the market and have continued to grow their businesses.
Relationship Hero is an online relationship coaching platform that offers personalized coaching services to individuals seeking to improve their relationships. Since its founding, Relationship Hero has grown to become one of the leading online relationship coaching platforms, with thousands of satisfied clients.
Founded in: 2017
Founded by: Liron Shapira, Lior Gotesman
Revenue: $8.2 million per year
Total Funding: 2 million Euros
Head Quarters: California, US
Talkspace is an online relationship coaching platform that efficiently connects clients with licensed relationship coaches. Talkspace offers a variety of coaching options for individuals, couples, and teens. Over the years, Talkspace has grown significantly with over one million users on its platform, and has partnered with several big organizations, including Google.
Founded in: 2012
Founded by: Oren Frank, Roni Frank
Revenue: $322.8 million per year
Total Funding: $413.7 million
Head Quarters: New York, US
BetterHelp is an online counseling platform that offers coaching services to individuals looking to improve their romantic, family, or social relationships. BetterHelp’s coaching process starts with a short questionnaire to assess the client’s needs and preferences. Clients are then matched with a relationship coach who best fits their needs.
This platform has offered services to more than 2.5 million people. BetterHelp provides 23,000+ licensed and trained relationship coaches to help clients achieve their relationship goals.
Founded in: 2013
Founded by: Alon Matas, Danny Bragonier
Revenue: $445.8 million per year
Head Quarters: California, US
All these relationship coaching platforms are growing tremendously and serving several clients around the world. If you are an entrepreneur looking forward to starting a similar online platform, you must take into consideration some important factors before starting your online relationship coaching platform.
Before building an online relationship coaching platform, it is important to consider some key factors that will impact the success of your business. In this section, we explore these factors in detail to help you establish a thriving online relationship coaching business.
One of the most important things to consider is to ensure your relationship coaching business meets all the legal requirements. Research the regulations of your region as you may need certain licenses or permits to run a relationship coaching business in your country.
Another important factor to consider is to build a strong network of coaches on your platform. It is very crucial to onboard licensed, accredited, and experienced coaches on your online relationship coaching platform. This not only builds trust and credibility among users on your platform but also results in increased revenue.
In order to build a successful relationship coaching platform, it is crucial to offer relevant features and functionalities on your platform. Some of the must-have features for an online relationship coaching platform are:
An online relationship platform can generate revenue through various revenue channels. Some of the possible revenue streams are:
Commission fees: The platform owner can cut a commission fee out of the session fee of coaches.
Subscription fees: The platform owner can charge a certain amount of fees from the clients for access to services on the platform. It could be charged on a monthly or yearly basis.
Advertising: The platform owner can offer advertising space to related brands and services targeting their audience.
Sponsorship: Coaches can list and promote themselves on the platform by paying a fee to reach more clients.
Now that you know the key factors you must consider when launching your online relationship coaching business, the next important step is to gain information about how to build such a platform.
Developing an online platform requires careful planning and execution. To help you out, we have gathered relevant information about different development approaches.
This is the first step in building an online relationship coaching platform. Majorly there are two popular methods to develop an online platform.
Both development approaches have their own merits and demerits. Business owners need to make a choice depending on their business needs, goals, target market, and budget. To help you make a sound choice, further, in the next section, we have discussed both approaches in detail.
Step-by-step guide to develop your online relationship coaching platform from scratch:
The design of the platform is an important aspect of its overall functionality and usability. It includes creating the wireframes and mockups, choosing a color scheme, designing the layout and user interface, etc.
Making a prototype is an important step in the development process of your platform. It enables you to test, evaluate and refine your platform in time. By making a prototype, a lot of time and money can be saved in the long run by identifying and fixing issues early in the design process.
Choosing the right tech stack is very important for ensuring that the platform is scalable, efficient, and easy to maintain. Depending on your platform requirements, budget, and scalability, choose the tech stack which fits well for your business idea.
Front-End: Front-end is part of the platform that is visible to customers and includes user interface and visual design. Building the right front end involves selecting the appropriate technology stack like CSS, Javascript, HTML5, etc.
Back-End: The back-end development includes building components required for running a platform behind the scenes. This includes coding, databases, server-side frameworks, operating systems, and a diverse range of APIs.
Testing is the most important phase in the development of your online relationship coaching platform. It helps in delivering a high-quality, error-free experience to users on your platform. This also involves testing the platform for functionality, usability, and performance.
After following all the above-mentioned steps, you are now ready to launch your online coaching platform in the market. This involves setting up your platform, creating content for pages, and promoting your relationship coaching platform to your target audience.
Developing an online platform from scratch could be a complex task. You need to build a robust team of developers, designers, and put in a huge amount of effort, time, and money. Nonetheless, another method to launch your online relationship coaching platform is to opt for a ready-made software solution. Let’s gather more information about ready-made software solutions and their benefits.
A ready-made software solution comes pre-built with features and functionality to kickstart your online relationship coaching business hassle-free. As it is an off-the-shelf solution it requires less time, money, and effort to launch your online platform. Additionally, this solution can be customized to suit the needs of your online business. Ready-made solutions are hassle-free options that can build a feature-rich relationship coaching platform offering almost the same capabilities as a custom-developed platform. These software solutions are designed specifically to meet the needs of a wide range of users coming on your online relationship coaching platform.
Furthermore, we enlist the benefits of choosing ready-made software over developing your platform from scratch.
Overall, a ready-made software solution offers major financial and commercial benefits and provides you with the opportunity to stand out among your competitors by launching your business idea in less time. Yo!Coach is one of the best ready-made software that can help you launch your online relationship coaching platform effortlessly.
Yo!Coach is one such ready-made online coaching software solution that offers all essential features and functionalities to successfully run an online relationship coaching business. Features like video conferencing, virtual whiteboard, screen sharing, screen recording, multiple payment gateways, etc. make this solution ideal for managing a relationship coaching business effectively.
In addition to that, Yo!Coach has served global clientele worldwide and delivered 200+ projects in several coaching niches. This is a 100% white-label solution offering full customization and free technical support for one year. Yo!Coach also provides lifetime license and no recurring fees are charged. Moreover, this solution comes pre-integrated with essential APIs for a seamless user experience on your coaching platform.
The cost of developing a relationship coaching platform may depend on various factors such as the complexity of the platform, features, functionality, design, and technology used to build it. It is difficult to predict the precise cost of building an online relationship coaching platform.
However, considering all the factors, we can conclude that building the platform from scratch costs around three times more than launching your platform by choosing a ready-made software solution.
The increasing popularity of online relationship coaching platforms presents a promising opportunity for entrepreneurs to venture into this industry. If you are looking to launch your own online relationship coaching business, our team of experts can guide you to kick-start your venture smoothly and effectively. Don’t miss out on the chance to enter this lucrative industry and make a positive impact on people’s lives.
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Sapna Sharma is a Content Writer at FATbit Technologies. Through her blogs, she brings insightful information to help entrepreneurs and startup owners know about recent market trends and developments in the eCommerce industry. In her spare time, she likes to paint and read books.
