When evaluating whether or not business coaching is the proper career path or business to invest in, most entrepreneurs and prospective business coaches will pose this question at some point.

If you decide to open your own business coaching firm, that dollar range matters a lot. Pricing not only influences whether or not someone decides to become a client, it also dictates your bottom line.

A variety of factors determine how much you can charge. When you join a business coaching franchise, however, the amount you should charge has already been tested and proven out for you. Regardless, let’s walk through the typical pricing model and what you should charge if you get into this business.

Priority One: Your Goals

You don’t enter this space just to make an amazing impact on businesses. You have your own personal dreams and goals that your business will help you achieve. Make those priority one.

Figure out how many clients you'll want and how much you'll have to charge them to meet your objectives. You may not feel comfortable charging your ideal fees when you first start out. That's fine. Start with a fee that keeps you comfortable and your prices when the timing makes sense.

A track record of assisting customers in achieving their goals and leading high-level teams gives you a great opportunity to charge more. Don’t undervalue yourself or the value of your coaching services – especially if you bring a lot to the table.

Three Ways Coaches Charge

Coaches typically charge under these three frameworks:

1. Per session: For example, $200 per hour of coaching
2. Month to month: For example, $1000 a month could include a set number of coaching sessions as well as access to other tools and resources.
3. By package: For instance, a $5,000, 6-month package can consist of several monthly coaching sessions, valuable online content, and a group strategic planning day.

Want the best approach to charge for your business coaching service? Charge by the package. Why? To start, it stabilizes and predicts your income, which matters a lot when you get up and running coach. Second, clients that sign up for a package demonstrate their willingness to commit and invest.

You didn’t get in this business to coach clients who don’t trust the process.

How to Create and Price Your Packages

To sum it up, a skilled business coach will bill based on the value of their services to the customer.

What kind of outcomes should clients expect?

To figure out how much your coaching package will cost, consider the outcomes you want your clients to see as a result of your business coaching services. If you have a client with a team that needs to communicate, one of the intended consequences of your coaching services should be an increase in team communication, boosted workplace morale and improved goal setting, delegating, and turnaround.

Price Based on Value and Effort

A small business owner might pay $3,000 for the above service, whereas a larger organization might pay $6,000. Why?

Because on average, a larger organization will require more of your attention and focus due to its larger team size or more intricate systems, whereas a small business will have fewer team members and require less work – simple.

Consider the value and effort you'll put into your specific service for your clients, and then price your coaching package accordingly.  Align your price with the services that will greatly boost your client's bottom line.

Hopefully this makes a seemingly daunting topic feel simple. That’s my job!

Want a better idea of what our coaches charge and what results they achieve? Reach out to us to begin the conversation. You get to see detailed information on pricing and expected returns if you qualify in our due diligence process. Check out this overview here to get the process started.