Life Coaching Fees Packages: What You Need To Know About Pricing

11

Min Read

Tom Smery

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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How Much Should A Life Coach Charge?

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:

What is the Average Hourly Rate for Life Coaching Sessions?

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.

What is the Average Rate for Monthly Life Coaching Packages?

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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Different Ways to Price Your Coaching Packages

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:

The 3 Fee Option

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:

  • Coaching Package A- A basic yet effective "Bronze" or "Starter" coaching package for newbies or people who want to maximize their time
    Coaching Package B- Build on package A to create a "Silver" or "Intermediate" package that offers more one-on-one sessions, support sessions, or relevant tools to grab the client's attention
  • Coaching Package C- An all-in-one "Gold" or "Expert" package that entails post-package follow-up, peer support group, or lifetime access to the coaching program. It works best for individual coaching sessions.

The Penetration Pricing Strategy

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 Rate

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.

What Should Be Included In A Life Coach Package?

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:

Element # 1: A Quick Introduction to Your Online Coaching Business

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.

Element # 2: Your Brand Story

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.

Element # 3: Coaching Framework and Methodology

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.

Element # 4: Package Process

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.

Element # 5: Time Clarity

Sharing time with your coaches is critical. Typically, you'll have to consider three types of time:

  • Time-Commitment Required- Should your ideal clients expect results in a couple of hours, days, or months? Evaluate how long the executive coach will take to study the content, reflect, process, and implement to ensure success
  • Time with the Life Coach- Consider how much time you'll offer your students to deliver a message, offer feedback, hold sessions, etc. The more time you provide, the more valuable your package will hold
  • Bonus Time- Lastly, identify the time you'll provide to your customers beyond what's included in your life coaching package. For instance, you can create a forum, group chat, or an interactive Zoom/Facebook call to set up a coaching agreement.

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Element # 6: Implementation Support

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

  • workbooks
  • swipe files
  • journal prompts
  • fillable PDFs
  • downloadable templates
  • done-for-you calendars

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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Practical Ways to Deliver Your Life Coaching Package

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:

  • Personal (one-on-one) coaching entails prearranged, time-limited sessions with a single coachee.
  • Group coaching - these can be significantly scaled up with correct implementation.
  • Online courses, such as self-paced modules
  • Workshops or webinars, or
  • Blended learning techniques blend online and offline learning in a way that works best for your coachees.

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.

How Do You Make A Coaching Package?

Step-by-Step Guide to Creating Your Life Coaching Package

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.

Find Your Niche

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.

Create Stellar Service Descriptions

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.

Check Your Competitors

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.

Design the Format of Your Life Coaching Package

Your coaching sessions' effectiveness is due to your format and the subject you cover.

  • Do you provide private sessions, group coaching, or a combination?
  • Will they collaborate with you alone or with other people?
  • Do you provide access to any materials or a self-study course?

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.

Curate a List of Services

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.

Map Out Life Coaching Rates

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.

3-Month Coaching Package Example

Here is an example of a 3-month coaching package.

Content:

  • 24 x 45-minute one-on-one face-to-face sessions
  • Email and chat support between coaching sessions. 
  • Assessment interview
  • Short- and long-term goal setting
  • WhatsApp Support
  • Workbook, Journal, and meditations
  • Emergency Skype calls

Begin with a mapping call:

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.

Set objectives:

Adapt the sessions to help them achieve their objectives. Work out all the intermediate steps they require to achieve their ultimate goals.

Establish a cooperative setting

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.

Tom Smery
Tom Smery is a certified CPA for over a decade. In his free time, he writes articles to pass on his expert knowledge on taxes and accounting. Thomas has a wide range of deep knowledge on 1099 taxes, and finance topics. You can find him fishing when he is not preparing taxes for his clients or writing about accounting.

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