Life coaching is often perceived as an expensive, high-end service, and this perception is one of the main reasons why life coach prices are so high. People looking to make drastic changes in their lives are likely to be put off by coaches who charge less than the market average. The more niche your coaching services are, the more you can charge, as you become an expert at solving a specific set of problems that are relevant to a specific group of people. More experienced coaches are likely to charge more than those who are just starting out and looking for their first clients.
Life coaches who work in big cities like New York or London will also usually charge more than those who work in smaller cities. To become a successful life coach, it's important to remember that the dollar amount of training isn't just about the hour per week your coach spends with you. Many established life coaches run mentoring programs, where they provide top-notch advice to aspiring coaches as they build their businesses. It's also important to keep in mind that setting up a life coaching business can be costly when you consider certification, marketing, and registration costs.
You may also need to factor in the cost of a domain name, website hosting costs, and web design. It's also worth noting that life coaching is a more simplified sales process than other services, as you don't need to convince tons of people in HR and hire through a large company. This makes it easier to acquire customers, as it's cheaper for people than other services. Finally, it's important to remember that while you may be moving away from what you learned in coaching school (most successful life coaches I know not only train PURELY), you will also accelerate the success of your business by playing to your strengths and personality.
Combining B-school training with coaching is a fantastic platform to build a successful business.