Contrary to popular thinking, a life coach isn't a therapist. Rather, they are a wellness professional specializing in helping individuals improve their self-confidence and self-awareness and achieve their professional goals.
If you just decided to contract a life coach's services, one of the things you are probably worried about is the exact rates that professional life coaches charge for their services.
While your concerns are valid, it's essential to know that most times, the cost of life coaching packages vary depending on several factors such as the frequency of the coaching sessions, length of coaching engagements, the reputation of the professional life coach, method of life coaching, etc. Want to find out more? Then keep reading this blog post!
Note: Try Bonsai's suite of coaching tools to help streamline your business. We have task management, time tracking, tax, intake forms, invoice, contract, proposal templates and more. Claim your 7-day free trial here.
How Much Should You Charge For Life Coaching?
To have a better insight into what life coaching fees might be, here are a few things that you might need to put into consideration:
Number of Coaching Sessions Required
After hiring a coach, the number of life coaching sessions assigned to you majorly depends on the goals you intend to achieve at the end of the day. A few examples of these goals are:
Short-term goals are often quite tasking for many coaches because of the limited amount of time they require. If you have given yourself a few weeks or months to sort out your mental health issues and attain a whole new level of emotional well being, it can be said that you have a short-term goal.
As mentioned earlier, these set of goals often has a deadline attached to them. This means that any life coach involved would need to expend Tripple energy to ensure that you meet your target, which ultimately increases the life coaching cost.
Therefore, a life coach might price their personal coaching for short term goals between $400 to $700.
This is the direct opposite of short-term goals. In a case where you feel like a three months timeline won't be enough to attain your personal and professional goals, you can opt for life coaching monthly packages that can last between six to twenty-four months.
The multiple sessions you have, the more money you will need to pay for the life coaching services. So, in all, you can spend a total of $2000 on your long-term coaching packages.
When it comes to achieving some life goals, you will need indefinite guidance. Once you get to this stage of your life, most life coaches would be more than willing to plan the perfect coaching program for you.
Whether you want to work with a business coach or general life coach, it's best to find a coach that offers ideal monthly packages. That way, you can pay lesser fees of about $250 to $800 for each monthly packages.
Length Of Coaching Sessions
After you decide to register for life coaching, it's important you understand that the level of your attention span and the frequency of your visits to the life coach have a high tendency of determining the cost of the service at the end of the day.
For example, a great coach won't allow someone who's been diagnosed with ADHD in the past to sit through more than one-hour sessions. On the contrary, someone else with a much healthier mind would be given an opportunity to stay through a coaching session for as long as they want.
Coach's Experience and Certifications
The importance of acquiring new skills or seeking overall professional development in the coaching industry cannot be undermined. When your life coach had undergone coach specific training, they are ultimately differentiated from other coaches in the life coaching industry.
Also, certifications are automatic proof that your life coach has shown some excellence and commitment in their field, which gives them a huge advantage in the industry.
Thus, if you plan to achieve your coaching goals by hiring a life coach that has acquired tons of training and certifications, you must get ready to pay for what they are worth. Let's assume that less experienced coaches are charging $300 per sessions, you should expect a highly certified one to charge up to $800 per session.
The good thing is that very often, these more experienced coaches understand better how human psychology works and will ensure that you enjoy every bit of the coaching process.
Note:Try our intake form for coaches to onboard new clients. Our software lets you design and make professional-looking forms in no time. Our pre-made templates allow you to add as many questions to gather as much information as you need. Try a 7-day free trial today.
Type of Coaching
Another factor that determines the price that a specific life coach cost is the type of coaching you choose for yourself. Currently, there are two major ones - one on one coaching and group coaching.
One on One Coaching
The main point of one on one life coaching is for the life coach to assist you, as an individual to meet your personal goals which may include creating the perfect work life balance, build a business model, improving your skills, establishing healthier boundaries, etc.
It typically involves having one or more sessions privately with the life coach, where you can share problems, questions, challenges, and concerns that pertains to your personal needs.
How much does a life coach charge for this service? Most coaches would charge at least $500 for these private sessions.
Group Coaching Pricing
Like the name implies, group life coaching involves more than one person that are working towards achieving a shared goal. Most business life coaches that take on group sessions can help you and your team to hit company marketing goals and increase business revenues.
But how much does a life coach charge for group sessions?
When it comes to life coach prices, some life coaches might decide to implement the general rule; each individual that enrolls for group sessions must pay 30% of the rates for one on one sessions.
What this means is that if your life coach prices has always been at let's say $70 per month for one on one life coaching, you and your group members should expect to pay $210 each.
What are the Typical Life Coach Rates?
Because of how poorly regulated the life and executive coaching industry is, coaches have resorted to charging exorbitant rates for service.
While you can find a life coach that charges based on their hourly rate, there are some other coaches charging monthly; the choice is yours to make.
Let's look at a quick breakdown of these below:
A large number of coaches who run a coaching business often charge per hour they spend on attending to their clients.
Although the rates are not standardized, an average executive coach would most likely charge you between $80 to $250 per hour. These fees can be less or more depending on the experience and exposure of the life coach working with you.
If you plan to maximize the advantages that come with working with the right therapist or coach, it's important that you go through a series of sessions with your coach.
To enroll in such sessions, you are advised to find a life coach that offers full monthly packages. What's more, most life coaches who provide this package charge cheaper rates than their counterparts who accept only hourly clients.
With the monthly package, you can end up paying between $300 and $800. That's better, isn't it?
How Much Does a Life Coach Earn?
It's normal to wonder what a typical life coach salary would be. Well, the amount life coaches earn most times depends on their:
Number of clients
Level of influence and experience in the industry
Area of specialization (e.g relationship, career, workplace wellness coaching, etc)
Nonetheless, the average earning of a life coach can fall between $30,000 to $70,000.
Note: Try Bonsai's pre-made coaching package template to create different pricing bundles for your clients. Our software lets you design and add different pricing points to capture your audience at whatever time they are ready. Claim your 7-day free trial here.
Why Are Some Life Coaches More Expensive Than The Others
A life coach might charge higher than their competitors due to the following reasons:
Life coaches who handle more sessions with industry leaders have a tendency of charging higher rates than their counterparts who attend to everyday individuals.
The location of the coach is also a great determinant. If you want to work with a life coach that's based anywhere in the United States, you should know that they will cost more than coaches that operate from other regions of the world.
The same also applies to any life coach in the United Kingdom or New York.
You don't expect a life coach who has gone through different pieces of training and acquired experiences over the years to charge lower than a less experienced coach who might probably be struggling to get their first set of clients.
What method does your life coach implement? It could be Neuro-linguistic programming (NLP), hypnotherapy, guided meditations, and a host of others.
Life coaches who implement hypnotherapy or track their activities with an accountability software such as Bonsai, tend to charge higher fees than those who do not.
How Do Life Coaches Build Up Coaching Packages and Bundles?
Many life coaches love to create coaching bundles and packages to enable them to earn more from their coaching business.
When planning to develop any type of coaching package or bundle, here is a checklist of the factors the life coach might consider:
What coaching materials will be needed to make the process run smoothly? (e.g. contract, invoice, proposal templates, PDFs, scripts.)
How much time and money is the target audience most likely to commit?
Is the coach willing to run the packages on a group or one-on-one basis?
What is the best process or technique that can help the coaching clients to reach their goals faster and also arrive at good results?
Will there be bonuses (such as eBooks, audio, or videos) for each client that subscribes to any of the coaching packages?
After the coach is through with figuring out everything on his or her list, they can now create and launch the coaching bundles.
Is Investing in Life Coaches Worth it?
By now, you might still be wondering if channeling your hard-earned money into life coaching is totally worth it at the end of the day. The answer is yes because consistent life coaching can provide you with handy tips that will bring a positive change into your life.
Last month, the Bonsai team sat down with one of our Bonsai coaching partners, Amy, owner of the coaching brand, Dare to Parent. We talked a bit about Amy’s brand, how she discovered Bonsai, and how she uses Bonsai to automate her workflows and reduce the amount of admin overhead time she spends running her business.
Discover Bonsai all-in-one business management software.
Try our full-suite of coaching tools, from invoices & contracts to proposals & taxes, free!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.