Many coaches charge based on an hourly rate, but this isn't the only way to price your services. Before investing time and energy in working with a client, coaches want to ensure that they are committed to making changes. We can offer our training through one-on-one sessions, small online groups, larger in-person groups, and more. This pricing structure allows you to charge your clients for each hour you advise them.
Some life coaches also offer a sliding scale or keep one or two positions open for low-income clients. It's important to research the buying habits of your target customers to understand how much they spend on coaching. The lack of regulation in the industry has led to a wide range of prices for services. If you're having trouble making impactful changes in your life, a life coach can help you create and maintain these changes.
Potential clients find it easier to imagine that THEY can get a result if a health coach offers specific training. But if you want to enjoy all the benefits of working with a life coach, you need to go through several training sessions. Business life coaches, executive life coaches, and academic life coaches tend to charge more than generalist life coaches. When you have proven methods that work, you can streamline your coaching services to give your clients results faster than your competitors.
Some coaches, usually newly certified, charge hourly training time, usually for the duration of a contract. When pricing your coaching services, consider your target clients because consumer purchasing power varies from group to group. The reason I don't recommend hourly pricing is because it empowers customers to believe that the value of your training lies in the time you spend with them. My intention is to help as many coaches as possible to value themselves appropriately, earn a living as a coach, and capture more of the value they create for others. You can get something of value from a single life coaching session, but the real benefit comes from an ongoing relationship aimed at achieving goals.
A good strategy is to agree to have short meetings but allow yourself a little more time to finish training sessions.