Contract template vs custom contract: which is best for your business?

Are you a business coach looking to establish a solid contractual relationship with your clients? You might be wondering whether to use a coaching contract template or to create a custom contract from scratch. Each option has its pros and cons, and it’s important to choose the one that best suits your business needs.

Pros of using a coaching contract template

First, let’s take a closer look at a coaching contract template. This type of contract is pre-written and covers the most common terms and conditions that typically apply to a coaching engagement. It can save you time and effort, as you don’t have to start from scratch and create a brand new contract every time you engage with a new client.

A coaching contract template can be a great option for coaches who are just starting out and may not have a lot of legal expertise. It provides a solid framework for your coaching engagement, covering topics such as payment, session schedules, confidentiality, and termination. Using a template can also help ensure that you don’t miss any important details in your contract.

Cons of using a coaching contract template

However, there are some potential drawbacks to using a coaching contract template. One issue is that it may not fully address the unique needs and circumstances of your coaching engagement. Every coaching relationship is different, and a one-size-fits-all template may not fully capture the nuances of your specific situation. Additionally, if you’re using a template from a generic source, it may not be tailored to your specific industry or jurisdiction.

Pros of using a custom contract

This is where a custom contract comes in. A custom contract is created specifically for your coaching engagement and takes into account your specific needs, circumstances, and legal requirements. While it may take more time and effort to create a custom contract, it can provide greater protection for your business and ensure that all parties are clear on their roles and responsibilities.

A custom contract can also help you stand out as a professional coach who takes their business seriously. It shows that you’ve put in the time and effort to create a tailored agreement that is specific to your client’s needs, which can build trust and credibility with your clients.

Cons of using a custom contract

However, creating a custom contract does require some legal expertise. If you’re not familiar with contract law, it may be a good idea to consult with an attorney who can help you create a solid agreement that covers all the necessary bases.

Choosing the Best Option for Your Business

In summary, whether you choose a coaching contract template or a custom contract depends on your specific needs and circumstances. If you’re just starting out or don’t have a lot of legal expertise, a coaching contract template can provide a solid framework for your engagement. However, if you have unique needs or want to create a more professional image, a custom contract may be the way to go. Either way, make sure you take the time to carefully review and understand the terms of any contract before signing.

Original article published at In The Know Legal.