As a coach, it's essential to understand the different ways you can package your services and the implications this has for your long-term revenues. Customers will expect to set goals and work with you in the area of your training program, and they expect training sessions, brainstorming, and action planning to focus on the program or closely related topics. When you're wondering “how much should I charge for training”, it's important to know what it's worth when it comes to pricing your services. The most exclusive coaching service you can offer is individual coaching, where you reserve your time for just one client.
Most senior coaches don't set hourly prices, but any contract eventually comes down to the price of time spent training. For example, if you're a business consultant who recently graduated from business school or who has a lot of courses and certifications, you may be able to charge more and charge a fixed price for your services, which in practice will take you away from your hourly rate. Group coaching is another popular option that tends to be a little cheaper compared to individual coaching sessions. After completing the 12 steps, clients will have an online coaching business that generates leads and discovery calls on a daily basis. You can also offer your individual training through small groups online or larger groups in person. When it comes to pricing strategies among online coaches, there are several common structures.
For instance, some coaches charge a relatively high fee for an hour or two of their time due to the value they offer and the time and energy they invest that doesn't directly translate into billable hours. I recently met the CEO of a coaching company in Colorado who was originally a project and relationship manager for Fortune 500 companies. She combined her love of coaching, creativity and systems to create more than 100 customizable training tools, forms and exercises, including more than 30 completely free training tools. I'm sure that 70% of coaches who identify themselves as leadership, executive, business or professional coaches earn much more money than 30% of coaches who identify themselves as life, vision, health, wellness or spiritual coaches. It's important to understand the different ways you can package your services and the implications this has for your long-term revenues when deciding how much to charge for coaching sessions. When setting prices for your coaching services, it's important to consider the value you bring to your clients.
You should also consider the amount of time you'll be spending with each client and how much they can afford. It's also important to consider the market rate for similar services in your area. You may want to start by offering discounts or special packages for new clients or those who commit to longer-term contracts. Finally, it's important to remember that pricing is not just about money; it's also about creating relationships with clients. You want them to feel like they're getting value from their investment in you as a coach.
If you're able to provide them with tangible results that help them reach their goals faster than they would have on their own, then they'll be more likely to recommend you to others.