Picture this: you just got off the phone after having an excellent conversation with a potential client. You feel like there was a connection and you both felt this was the right match. But the prospect never returns, they don't sign up. Why?
Nine out of ten times, not having the right life coaching packages can drive away customers. But creating the perfect package can attract new coaches and help establish you as an expert. In this article, we'll discuss all the details you need to know about building killer life coaching packages, pricing them right, and growing your client base:
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On average, life coaching packages charge between $100 and $500 for one coaching session. But depending on the coaching niche and type of package offered, the cost may vary. Here's a closer look:
Like wellness professionals and fitness gurus, many coaches charge hourly rates. Typically, the cost varies between $75 and $200. But remember, these fees are not standardized.
Compared to hourly rates, monthly life coaching packages attract more clients and are pocket-friendly. Monthly packages charge between $250 to $750 per month.
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When it comes to pricing strategies, you've got a few options. Let's take a look at the top three options for the life coach cost:
What's the one thing every customer wants? A holistic solution that solves all their challenges. And that's something clients will pay extra for!
Tap into a diverse customer base and grow your business by offering three fee options for well-curated packages:
If you're new to the life coaching industry, you might consider "penetrating" the market by offering affordable coaching fees. On average, most new life coaches charge $1500 for a 3-month package.
If the price feels too high, you can lower it. And if it's too low, you can increase it. The goal is simple: you want to attract new clients, gather testimonials, and grow your brand recognition. After that, you can charge higher coaching fees or switch your pricing strategy.
Value-based pricing strategy is comparatively complex because it often includes getting on call or meeting the client face to face to discuss their expectations. The strategy involves the client's perception of the value and impact created by your services.
For instance, your business coaching package could help a client reach $1 million in revenue. Then your coaching rate would be a certain percentage of this income.
Having the perfect coaching package can mean the difference between clients saying, "I'll consider it," and "Where do I sign?" But what should you include in your package?
Creating a well-structured life coaching package starts with understanding the elements you need to integrate. If you're ready to attract your ideal client and grow your brand, keep reading:
When a client visits your website, they want to know what and how you're offering incredible life coaching services. So, start creating your package by writing a few words introducing your services, life coaching fees, and the results they promise.
Remember, your customers do not want to hear all the things you "can" do; they want to know what you "will" do. So, match your features with a benefit that solves their pain point.
Storytelling is the quickest, most effective way of capturing new clients. So, use a compelling story introducing yourself, your journey, and why you do what you do to build a strong coaching relationship with your customers.
Ensure your story is powerful, personal, and inspiring and highlights your core strengths without going overboard on your coaching service.
Most life coaches use a specific coaching process or technique to help clients combat their limiting beliefs and unlock their inner potential. If that sounds like you, include a few lines about it.
Don't uncover all the secrets of your method, but offer enough information to entice potential clients.
At this point, you'll want to offer more details on how your package works. It includes how often you'll meet clients, how many one-on-one sessions you'll provide, session cancellation/re-scheduling conditions, and the support you offer outside of sessions during your time together.
For instance, you can send emails or SMS between coaching calls through WhatsApp, Facebook Messenger, or Voxer.
Sharing time with your coaches is critical. Typically, you'll have to consider three types of time:
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Clients hire us to assist them in hastening the process of achieving and receiving results.
To be hyper-focused on working smarter, not harder, we must strip away the fluff from what they need to learn, consider, and practice.
Your coaching packages will therefore include a variety of Implementation materials.
Offering support options like
Remember that you're not merely imparting knowledge to your clients and are not trying to create co-dependent bonds with them. You want them to be eager to work hard and complete tasks between sessions that will take them forward!
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Before developing your idea into a practical, value-adding course, you must choose your client-interaction strategy. Here are a few helpful methods for sending your package:
Consider your preferred method of customer interaction before you begin to create your first package. How do the various models fit into your work schedule, and which package type best satisfies your usual coachee?
Create a paper diagram of your framework once you've selected one that works. Creating an online coaching package you can provide your clients will start with this.
It may take some trial and error to create a coaching program online. Your pricing and deliverables may need to change as you become more familiar with your target market.
Even if evaluating your session over time is a good idea, you should start with a strong foundation. We've developed a list of possible measures you can take to create enticing coaching packages for your potential clients to make this process simpler.
Before considering the services you should as a new coach, you must know the niche you're working in.
Do you prefer to work as a private coach or a group coach? Do you want to be a reputable life coach, business coach, career coach, or anything else to help your target audience? You can select a niche with the aid of these queries to set up more sessions relevant to your industry.
You must add clear information about the components of each coaching package through service descriptions for your clients. You naturally want to tell them what something is, why you might need it, and if it's the right fit for you before you buy it. You may better convey your worth to new visitors by writing service descriptions that explain each coaching package's why, how, and what.
People will be intrigued to see how many coaching sessions they get inside the package (one vs. several coaching sessions/month) and how long you will meet for when you make a list of everything that is included (30 minutes vs. 1-hour). Any other deliverables and features of your package should also be in the description. Enhancing the value of your coaching packages will assist you in sweetening the bargain.
Don't feel you must create the same packages as other coaches to succeed. Each coach builds their packages using a different strategy. Your bundles should, if anything, be distinctive so you can provide a better client experience.
You can start to identify what might work best for you once you do some research on your rivals. If a coach offers packages that include three months of support, it can motivate you to develop a similar package with a different number of coaching sessions.
Once more, you don't have to imitate another person's coaching programs exactly. Only gather the information to help you understand your ideal clients' choices when seeking an online coach.
Your coaching sessions' effectiveness is due to your format and the subject you cover.
Can your clients contact you for chat support, accountability, or crisis management between sessions?
Making these choices will demonstrate how much value you genuinely provide during the coaching partnership. It not only establishes the essential boundaries for you, but it also establishes expectations for your clients.
It's time to develop multiple levels for your coaching services once you've done your research and have a list of the things you want to include in your packages. Naturally, a private coaching partnership will contain different things than a large workshop.
When making your list of coaching services, you can think of possible future services while concentrating on two or three coaching tiers at the time. Instead of trying to sell customers hundreds of options, focusing on marketing a small number of services is advisable. For us, it can occasionally become overwhelming due to information overload.
It's critical to comprehend your business expenses before discussing the cost of your coaching services. Although you can efficiently run a low-cost business because you conduct so much coaching work online, you need money to make money.
Consider all the coaching equipment and business-related software you require. Do you need to make any equipment purchases or travel for business? Do you intend to work with a virtual assistant? Although many of these costs qualify for tax deductions, you still need to factor them into your price.
You can price yourself too low if you don't keep your expenses in mind. When that occurs, it will be challenging to maintain your coaching business over time because it will be more difficult to make a profit. Keep in mind that your net growth matters more than your overall income.
Here is an example of a 3-month coaching package.
Schedule a free onboarding call with your customer and ask all the life coach questions you need to understand where they are and where they want to be.
Adapt the sessions to help them achieve their objectives. Work out all the intermediate steps they require to achieve their ultimate goals.
Establish a relaxed atmosphere where clients can feel assured about achieving their objectives. Half of the battle is won once they think they can succeed.
A verbal contract (formally called an oral contract) refers to an agreement between two parties that's made —you guessed it— verbally.
Formal contracts, like those between an employee and an employer, are typically written down. However, some professional transactions take place based on verbally agreed terms.
Freelancers are a good example of this. Often, freelancers will take on projects having agreed on the terms and payment via the phone, or an email. Unfortunately, sometimes clients don't pull through on their agreements, and hardworking freelancers can find themselves out of pocket and wondering whether a legal battle is worth all the hassle.
The main differences between written and oral contracts are that the former is signed and documented, whereas the latter is solely attributed to verbal communication.
Verbal contracts are a bit of a gray area for most people unfamiliar with contract law —which is most of us, right?— due to the fact that there's no physical evidence to support the claims made by the implemented parties.
For any contract (written or verbal) to be binding, there are four major elements which need to be in place. The crucial elements of a contract are as follows:
Therefore, an oral agreement has legal validity if all of these elements are present. However, verbal contracts can be difficult to enforce in a court of law. In the next section, we take a look at how oral agreements hold up in court.
Most business professionals are wary of entering into contracts orally because they can difficult to enforce in the face of the law.
If an oral contract is brought in front of a court of law, there is increased risk of one party (or both!) lying about the initial terms of the agreement. This is problematic for the court, as there's no unbiased way to conclude the case; often, this will result in the case being disregarded. Moreover, it can be difficult to outline contract defects if it's not in writing.
That being said, there are plenty of situations where enforceable contracts do not need to be written or spoken, they're simply implied. For instance, when you buy milk from a store, you give something in exchange for something else and enter into an implied contract, in this case - money is exchanged for goods.
There are some types of contracts which must be in writing.
The Statute of Frauds is a legal statute which states that certain kinds of contracts must be executed in writing and signed by the parties involved. The Statute of Frauds has been adopted in almost all U.S states, and requires a written contract for the following purposes:
Typically, a court of law won't enforce an oral agreement in any of these circumstances under the statute. Instead, a written document is required to make the contract enforceable.
Contract law is generally doesn't favor contracts agreed upon verbally. A verbal agreement is difficult to prove, and can be used by those intent on committing fraud. For that reason, it's always best to put any agreements in writing and ensure all parties have fully understood and consented to signing.
Verbal agreements can be proven with actions in the absence of physical documentation. Any oral promise to provide the sale of goods or perform a service that you agreed to counts as a valid contract. So, when facing a court of law, what evidence can you provide to enforce a verbal agreement?
Unfortunately, without solid proof, it may be difficult to convince a court of the legality of an oral contract. Without witnesses to testify to the oral agreement taking place or other forms of evidence, oral contracts won't stand up in court. Instead, it becomes a matter of "he-said-she-said" - which legal professionals definitely don't have time for!
If you were to enter into a verbal contract, it's recommended to follow up with an email or a letter confirming the offer, the terms of the agreement , and payment conditions. The more you can document the elements of a contract, the better your chances of legally enforcing a oral contract.
Another option is to make a recording of the conversation where the agreement is verbalized. This can be used to support your claims in the absence of a written agreement. However, it's always best to gain the permission of the other involved parties before hitting record.
Fundamentally, most verbal agreements are legally valid as long as they meet all the requirements for a contract. However, if you were to go to court over one party not fulfilling the terms of the contract, proving that the interaction took place can be extremely taxing.
So, ultimately, the question is: written or verbal agreements?
Any good lawyer, contract law firm, or legal professional would advise you to make sure you formalize any professional agreement with a written agreement. Written contracts provide a secure testament to the conditions that were agreed and signed by the two parties involved. If it comes to it, a physical contract is much easier to eviden in legal circumstances.
Freelancers, in particular, should be aware of the extra security that digital contracts may provide. Many people choose to stick to executing contracts verbally because they're not sure how to write a contract, or they think writing out the contract terms is too complicated or requires expensive legal advice. However, this is no longer the case.
Today, we have a world of resources available at our fingertips. The internet is a treasure trove of invaluable information, platforms, and software that simplifies our lives. Creating, signing, and sending contracts has never been easier. What's more, you don't have to rely on a hiring a lawyer to explain all that legal jargon anymore.
There are plenty of tools available online for freelancers to use for guidance when drafting digital contracts. Tools like Bonsai provide a range of customizable, vetted contract templates for all kinds of freelance professionals. No matter what industry you're operating in, Bonsai has a professional template to offer.
A written contract makes the agreement much easier to prove the terms of the agreement in case something were to go awry. The two parties involved can rest assured that they're legal rights are protected, and the terms of the contract are sufficiently documented. Plus, it provides both parties with peace of mind to focus on the tasks at hand.
Bonsai's product suite for freelancers allows users to make contracts from scratch, or using professional templates, and sign them using an online signature maker.
With Bonsai, you can streamline and automate all of the boring back-office tasks that come with being a freelancer. From creating proposals that clients can't say no to, to sealing the deal with a professional contract - Bonsai will revolutionize the way you do business as a freelancer.
Why not secure your business today and sign up for a free trial?