Key Sections
- The Average Pricing of Business Coaches
- How Much Can Small Business Coaches Charge?
- How Much do Executive Coaches Charge?
- Other Important Factors to Keep in Mind
- How Much Can You Charge as a Business Coach Academy Certified Partner?
- How Much do Business Coaches Make? How to Reach Your Ideal Pricing
- Additional Costs Associated With Business Coaching
- Conclusion
- Charge Higher Rates as a Certified ProCoach
The coaching industry is a rapidly growing one; in fact, according to PwC, coaching secured its spot as the second-fastest-growing global sector back in 2022. This makes sense, as business coaching in particular is a great way for many overworked business professionals to achieve financial independence and gain greater freedom over their time.
But how much do business coaches charge? More specifically, how much can you charge as a Profit Coach Certified Partner with Business Coach Academy?
We’ll answer both of these questions over the course of the following article, but first, let’s quickly go through the different types of coaching, as the fees you’re able to charge may differ slightly.
The Average Pricing of Business Coaches
Your business coaching rates may depend slightly on the type of coaching you deliver.
On average, most good business coaches charge anywhere between $1000 and $3000 a month for weekly coaching. If you’re conducting 1-hour sessions once per week for each client, this averages out to around $500 an hour, and this is where you’ll find most coaches.
Then, the number of hours you dedicate to any given client per month will determine your monthly packages/retainer fees.
How Much Can Small Business Coaches Charge?
For coaches working closely with small business owners, your hourly rate may be closer to the $375 to $400 an hour mark as opposed to the $500 mark, although charging $500 an hour is by no means unheard of.
One-to-One Coaching Vs. Group Coaching
One-to-one coaching is the format where you’ll be able to charge the highest rates. When it comes to group sessions, the rate you’re able to charge may be slightly less than if you were to provide one-to-one coaching sessions. However, you’ll be able to work with more clients when offering group coaching, so this presents the opportunity to make more revenue overall. Some of our coaches offer both one-to-one sessions and group coaching sessions for their clients.
How Much do Executive Coaches Charge?
Generally speaking, the cost of executive coaching is slightly higher than that of small business coaching, although the rates you can charge may depend on the level of the coachee in their organisation (e.g., CEO, COO, VP, etc.).
If you’re a coach working with top executives, you may be able to charge more than small business coaches. The price point for executive leadership coaching is usually closer to the $500 an hour mark; however, this depends on a few other important factors, too.
Other Important Factors to Keep in Mind
When selling coaching services, you want to sell in monthly packages or retainer programmes rather than just charging for single coaching sessions. This way, you can guarantee recurring revenue, making it much easier for you to grow your coaching business.
Furthermore, positioning yourself as a specialist in one specific industry or niche, as opposed to covering a wide range, might mean you can charge your clients higher rates.
How Much Can You Charge as a Business Coach Academy Certified Partner?
As part of our triangulation process for getting our certified partners the prices they want to charge, we recommend between a 5x and a 15x ROI for their clients. So, if you want to charge $1000 per month, you want to be trying to add anywhere between $5,000 and $15,000 worth of value to the particular clients and industries that you’re going after.
That’s a good way to price your services, but it’s just one of the methods we use to calculate how much you charge as a coach. Ultimately, it comes down to you and the value that you can deliver. And, when you’re following a particular process and have all these tools and things ready-made for you, like in the certified partner programme, it makes it much easier for you because it’s a robust system. You can stand out from the crowd, and the client gets much more value from you because it’s all already done and ready to go. You can just give them the tools to use, and they get huge value from that alone.
How Much do Business Coaches Make? How to Reach Your Ideal Pricing
New coaches may start by charging $600 a month, just to gain experience. Then, after one or two clients, they’ll have gained the confidence and experience to set their business coaching fees at $1200, then $1500, then $2000, and perhaps even beyond that ($2,500–$3,000 per month) once they have a proven track record.
At Business Coach Academy, we’ve actually had coaches who have done exactly this and even had clients who paid $6,000 per month due to the number of hours they were demanding. As your confidence grows and you gain more experience, you will be able to increase your business coaching prices.
So you can quickly ramp up your hours depending on what your goals are. But that’s about the average of what you can charge. The key is not just your hourly rate, but also that the revenue is recurring.
Positioning Yourself as a Coach Vs. a Consultant
When you position yourself as a coach rather than a consultant, you ensure the revenue from clients is recurring. Consulting may mean you can charge a slightly higher rate, but there is a definitive end to the relationship and, therefore, an end to the revenue stream from that client.
As a coach charging a retainer on a monthly basis, you can generate revenue for several years from a single client, and the overall cost of your services will be far greater than that of a consultant.
It’s About the Value You Can Deliver as a Coach
Ultimately, it comes down to the fact that you are charging for the value you deliver. So if you can deliver $100,000 in value every single month, then why not charge $10,000 a month?
Additional Costs Associated With Business Coaching
When answering the question, “How much do coaches charge?” it can be easy to forget about additional costs. The two main costs to take into consideration here are travel expenses (if you’re offering in-person coaching and have to travel to visit a client) and support outside of scheduled sessions.
Travel Expenses for in-person Coaching Services
Travel expenses for in-person coaching services can add a slight cost to coaching arrangements. Depending on the distance between the coach and the client, these expenses may include fuel costs for driving, train tickets, or maybe even accommodation when travelling to and from coaching sessions. These costs can quickly accumulate, especially if the in-person meetings are frequent or the coach needs to travel long distances to reach the client.
For this reason, alongside major factors such as the COVID-19 pandemic, online coaching has seen a wild rise in popularity in recent years.
Additional Support Outside Scheduled Sessions
Support outside of scheduled sessions is another potential cost of business coaching. While sessions are usually scheduled at regular intervals, clients may need additional support. This may include phone calls, emails, or any other form of communication used to address pressing issues that simply can’t wait or provide guidance on challenges between sessions.
Some coaches include additional support in their packages, while others may charge an additional fee. It’s important to give/get clarity upfront on the terms of additional support and understand any associated costs.
How Much do Business Coaches Charge? Conclusion:
When you follow a specific process, like the one laid out in our Certified Partner Programme, and have all the tools at your disposal, it makes finding and charging clients much easier. This is because it is a more robust system and allows you to stand out. The client will also get more value from you because you can give them the tools they need to reach their goals, and they will receive huge value from that.
Charge Higher Rates as a Certified ProCoach
Business Coach Academy helps overworked business leaders & corporate directors become prestigious coaches so they can have more freedom & autonomy over their lives. Maybe you’re looking for better work-life balance, more family time, or an exit strategy from your current high-stress role. Our coaching program is designed to help you do all the above, and all with very little in the way of time commitment; just 5 hours at the weekend is all that’s required to start. Learn more about how you could become the next Business Coach Academy success story here.
While we’re on the subject, we’ve had coaches earn $6,000 per month from a single client. In fact, check out these testimonials below; there are hundreds more just like them.
Key Takeaways
- The average price of a business coach is between $1,000 and $3,000 per month ($500 an hour).
- Executive coaches may charge slightly higher rates than small business coaches.
- Position yourself as a coach rather than a consultant for recurring revenue.
- Your pricing should be based on the value you can deliver as a coach.
- New coaches may start by charging slightly lower rates and quickly ramp this up.
- We’ve had coaches earn up to $6,000 per month from a single client.
- Coaches may charge additional fees for add-ons, such as support outside of scheduled sessions.
