It is challenging to determine the exact payment you should make for a life coach session because this is an unregulated industry that may affect both clients and future coaches.
If you wish to switch your professional career and start coaching, the first thing you will notice is that you will find numerous people acting as coaches with one goal to earn profit and avoid helping people.
The brink of a new age brought us to a point in which coaching is vital for both personal and corporate situations. According to statistics, people have answered on dozens of life coaching questions that allowed them to become aware of this particular idea and profession.
One of the biggest and most challenging questions to answer is how much you should pay for a life coaching session. It is a question that most new coaches have trouble answering because they are not sure what is the value of things that they are providing and sharing further.
Getting appropriate life coaching rates depends on your background and confidence as well as coaching skills and what is the status of people that want to use your services in the first place.
At the same time, it depends on where you live, as well as coaching niche that you decide to choose because some of them are attracting only rich people while others are great for everyone.
The most important factors when it comes to deciding what are your life coaching fees depend on:
- The length and frequency of session that you conducted
- What is the medium for the delivery of your coaching method? The price is different for phone, Skype, or face-to-face sessions.
- The demographics and niche that you target with your knowledge as well as their buying power and willingness to pay so that they can become better in the future
- Your credentials, experience and certification levels
- Your client’s and your location as well
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How Much Do Life Coaches Earn?
You should have in mind that some life coaches are setting rates based on the factors we have mentioned above. Therefore, the hour can be fifty bucks for face-to-face coaching, while celebrity or corporate coaches can take $150 and even more for a session.
Therefore, we have to say that the answer depends on the place you wish to reach your audience as well as a niche that you have chosen and specialty that will allow you to reach the target audience and get the money they can afford.
Therefore, if you wish to coach a single mother, you will not be able to charge the same way as with corporate executives or celebrities, and that is a fact you have to remember.
You should also consider the return on investment because that will allow you to determine the amount you gave as well as the time you spent doing your job as well as money that you got for that particular reason.
Have in mind that initial stages for your coaching business are to set everything up so that you can gain the return in the future period.
Should You Offer a Free Trial?
Have in mind that most coaching schools nowadays will provide you the ability to start practicing as part of your training.
When you reach the specific qualifications and certifications that you wanted in the first place, the central dilemma is the amount of money you should take from your clients.
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In case that you already have a degree in a related disciplines such as counseling or psychology, you are just adding coaching techniques and methods to your skills, and you won’t have issues charging because you know your worth.
However, if you do not have the experience, then the best way to start is to offer reduced fee, or free coaching offers as the way to gain confidence as well as experience.
In case that you are confident and successful, these free sessions will soon become the ones that will drive profit to your business. Everything depends on your comfort levels and what you wish to achieve in a limited period.
In case that you think that you should charge a full rate as soon as you start, that is another possibility, because you have to be the person that analyzes the market you operate before you create a rate list.