Pricing Your Coaching Services: A Beginner’s Guide

Struggling to set the right price for your coaching services? You’re not alone. Here’s a quick guide to help you nail your pricing strategy:

• Know your worth: Skills, experience, and results matter
• Consider factors like niche, client type, and business costs
• Choose a pricing model: hourly, monthly, packages, or value-based
• Start with a 3-month package around $1,500 for beginners
• Create attractive packages focused on client outcomes
• Avoid common pitfalls like undercharging or not raising rates
• Discuss prices confidently, emphasizing benefits over costs
• Adjust prices as you gain experience and demand grows

Remember: Your pricing reflects your value. Set it right to build a thriving coaching business.

Start low, but don’t undersell yourself. As you gain experience and testimonials, gradually increase your rates to match your growing value.

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Know Your Worth as a Coach

Pricing your coaching services right starts with knowing your worth. Here’s how:

Identify Your Skills

List what makes you unique:

• Help clients hit goals faster?
• Bring industry know-how?
• Break down tough problems?

Don’t forget: your life and work experience count too.

Understand Time Savings

Your expertise helps clients move quicker. That’s valuable.

Example: A coach helps women in their 40s drop 10 lbs fast without eating up their schedule. Clients see the time and effort saved.

Deal with Self-Doubt

New coaches often doubt themselves. Here’s how to fight it:

1. Get certified

Boost your skills and confidence with a solid coaching program.

2. Find a mentor

Learn from coaches who’ve been there.

3. Set clear goals

Know what you want from your coaching career.

4. Be kind to yourself

See mistakes as chances to learn.

5. Celebrate wins

Every small success builds confidence.

Shilpa Singh, coaching author, says:

"Imposter syndrome hits new and seasoned coaches alike. Remember: it doesn’t define what you can do or achieve."

It’s OK to start low and raise prices as you gain experience and testimonials. Focus on the results you deliver, not just your time.

What Affects Coaching Prices

Pricing your coaching services isn’t simple. Here’s what you need to consider:

Your Background

Experience and skills = higher rates. It’s that simple.

A life coach with 5+ years? They might charge $100/hour. But an executive coach with 10+ years in corporate leadership? They could ask for $250/hour or more.

Client Needs

Who are you coaching? That matters.

Coaching Fortune 500 execs? You can charge more than if you’re working with small business owners.

Your Specialty

Niche down, and you can often charge more. Why? You’re the expert in that specific area.

Here’s a quick look at some coaching niches:

Business Costs

Don’t forget about your expenses:

• Tools and software
• Marketing
• Taxes
• Your income goals

Here’s a tip: Start with your target monthly income. How many clients at what rate do you need to hit that goal?

Your pricing strategy is crucial. As Stephanie Fiteni, a Marketing Coach, says:

"Your choice can significantly impact the success and growth potential of your coaching business."

Balance these factors, and you’ll set rates that reflect your value and attract the right clients.

Common Ways to Price Coaching

Let’s look at how coaches typically price their services:

Hourly Rates

You charge per hour spent with a client. Simple, but not always ideal:

• Clients might watch the clock
• Can cap your earnings
• Doesn’t always show your true value

A life coach might ask for $150/hour, while an executive coach could charge $250+.

Monthly Fees

You set a fixed monthly rate for ongoing support. This approach:

• Gives you steady income
• Builds lasting client relationships
• Offers flexible support

Example: A health coach charging $500/month for regular check-ins.

Service Packages

You bundle services for a set price. Why it works:

• Focuses on outcomes, not time
• Easier to sell than hourly rates
• Often better value for clients

Here’s a sample package:

Value-Based Pricing

You price based on the results you deliver. It’s trickier but can pay off big. Example: If you boost a business’s revenue by $100,000, you might charge 10% ($10,000).

Pro tip: As you gain experience, don’t be shy about raising your rates.

Setting Your First Coaching Rates

New to coaching? Here’s how to price your services:

Figure Out Your Minimum Rate

List your business costs:

• Rent
• Phone bills
• Taxes
• Subscriptions
• Marketing expenses

Add your desired monthly wage. Let’s say expenses are $500 and you want $3,500. That’s $4,000 total.

With 8 clients, you’d need $500 per client monthly ($4,000 ÷ 8).

Check What Clients Will Pay

Research your market. Life coaches typically charge:

Start Low to Gain Clients

Use Penetration Pricing to attract clients. A common start: $1,500 for a 3-month package (about $125/week).

Balance Cost and Value

Offer different pricing options:

1. Hourly Rate: For one-offs or pay-as-you-go clients.

2. Monthly Fee: Steady income, long-term relationships.

3. Service Packages: Bundled services. Example:

4. Group Coaching: Charge less per person, earn more overall. Example: $50/person in a group of 5 = $250/hour vs. $150/hour one-on-one.

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Building Coaching Packages

Want to attract clients and grow your coaching business? Let’s dive into creating packages that pack a punch.

Key Parts of a Coaching Package

A solid package includes:

• Initial assessment
• One-on-one sessions
• Group meetings (if applicable)
• Supplementary materials
• Ongoing support

Here’s what Jessica Abel offers in her 3-month package:

Focus on Client Results

Don’t just list features. Show what clients can achieve. Take it from Greg Faxon:

"My client Grace helps entrepreneurs break habits of procrastination and perfectionism. This promise helped her sell $110k worth of coaching in a single month."

Short vs. Long-Term Packages

Choose your timeframe:

• Short-term (1-3 months): Quick wins, specific goals
• Long-term (6-12 months): Deep transformation, complex issues

Long-term packages? They often lead to better results and bigger upfront payments.

Price Your Main Program

Set a price that matches your value. Starting point:

• 3-month package: $1,500 ($125/week)

As you gain experience, bump up those rates. Some high-end coaches? They’re charging $5,000+ for comprehensive programs.

Pro tip: Factor in ALL your time when pricing. That includes prep work and support outside sessions.

Pricing Mistakes to Avoid

When setting your coaching rates, watch out for these pitfalls:

Pricing Too High

Sky-high prices can scare off potential clients. Make sure your rates match your target market’s budget while still reflecting your worth.

Pricing Too Low

Undercharging is a big mistake. It hurts your income and sends the wrong message about your value. Alisa Barcan, author, says:

"Assuming none of your prospects can afford to work with you means that you’re either trying to sell the right thing to the wrong people, or the wrong thing to the right people."

Low prices can lead to burnout, clients not valuing your services, and trouble keeping your business afloat.

Not Raising Prices

Don’t forget to increase your rates as you gain experience. Review your pricing regularly, adjust based on your growing expertise, and factor in market changes and demand.

Your pricing should reflect the results you deliver, not just your time. Laura O’Hagan, coach and author, puts it this way:

"To help people in the long term your business needs to be sustainable and to be able to pay you a liveable wage."

Remember: Your rates aren’t set in stone. As you grow, so should your prices.

Talking About Your Prices

Discussing fees can be tricky. Here’s how to handle it:

Explain the Benefits

Focus on results, not just time. For example:

"Our package includes three 60-minute sessions. We’ll tackle your overwhelm, create strategies for your next steps, and give you weekly priorities. After we’re done, you’ll get an action plan to stay organized and keep making progress. The rate is $699."

This shows clients what they’re getting for their money.

Be Open About Costs

Put your prices out there. Don’t hide fees until after a free call. Instead:

• List prices on your website
• Include fees in call confirmation emails
• Have different rates for individuals and organizations

Example: £150 per session for private clients, packages from £5,000 for organizations.

Handle Price Discussions

When talking about fees:

1. Pick a number and stick to it: Set a price that reflects your value.

2. Practice saying your rates: Be clear and confident.

3. Don’t apologize: Your confidence affects how clients see your value.

4. Avoid discounts: Offer a bonus or smaller package instead.

Clients aren’t buying "coaching" – they’re buying results. Describe the changes they can expect.

Changing Your Prices Over Time

As you grow, your prices should too. Here’s how:

Review Your Prices Regularly

Check your rates often. It keeps you competitive and matches your value.

When to review:

• New coaches: Every 6 months
• Established coaches: Yearly

Look at:

• Your current rates
• Competitor pricing
• Market demand
• Your skill growth

Yearly Price Increases

Plan regular adjustments. It keeps up with inflation and shows your growing expertise.

How to do it:

1. Set a fixed percentage (5-10%)
2. Tell clients a month before
3. Explain why

"Changing rates is straightforward with a professional approach." – Practice

Adjust for Growth and Demand

Update prices based on experience and client interest. Signs it’s time:

• Your slots are 70-80% full
• You feel unfulfilled or exhausted
• Your revenue has stalled

A business strategist hiked her prices from $5,000 to $25,000. Result? Six figures in two weeks and her highest revenue year.

"Higher prices can attract better clients and help you scale." – Jessica Yarbrough, Business Strategist

Your prices should match your skills and still work for your target clients. Don’t fear adjustments – it’s part of growth.

Conclusion

Pricing your coaching services isn’t just about picking a number. It’s about understanding your worth and the value you bring to clients.

Here’s what matters:

• Start with a plan, but be ready to adjust
• Don’t undercharge – new coaches should aim for at least $1,500 for a 3-month package
• Price based on results, not just time
• Review and update your prices regularly
• Believe in your worth – your confidence will show

Emma-Louise Elsey, Founder of The Coaching Tools Company, says:

"Pricing varies so much – it’s all about perceived value. It doesn’t matter what you charge – it’s about what you want to get out of it, and the value your potential client perceives from how you position/sell your program!"

Remember: Your pricing reflects your value. Set it right, and you’ll build a thriving coaching business.

FAQs

How do you charge someone for coaching?

Coaches use several pricing methods:

1. Retainer rate

Clients pay a fixed monthly fee for a set amount of support. Example: 3 sessions (50 minutes each) for $195/month.

2. Hourly rate

Rates vary based on experience and niche:

3. Package pricing

Fixed price for a set number of sessions or program. Examples:

• $1,500 for 3 months (new coaches)
• $3,000 for 3 months (business or high-performance coaching)

4. Value-based pricing

Fee based on results. Example: Business coaches charging a percentage of client’s revenue increase.

What is coach pricing strategy?

It’s about setting fees that reflect your value while considering market factors. Key elements:

1. Experience-based pricing

Your expertise should influence your rates. Fab Giovanetti, CEO of Alt Marketing School, says:

"Your level of expertise and experience should reflect in your pricing. If you have specialized skills, extensive training, or a proven track record of success, you can justify higher rates."

2. Market research

Know what competitors charge and what clients will pay in your niche.

3. Tiered pricing

Offer different price points for various service levels. Example:

• $297/month for existing clients
• $450/month for significant life boosts
• $695/month for established experts

4. Gradual increases

Start lower to gain clients, then raise rates as you build experience and results.

5. Flexible options

Consider payment plans to make your services more accessible.

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