“How much should I be charging my coaching clients?”
This is the question every almost coach is faced with and most struggle finding the answer.
We get it, money can feel like a touchy subject for most of us. When deciding on what to charge, it can bring up insecurities and self-doubt as you put a price on what you’re truly worth as a Coach.
We want to take the pressure off and give you some tangible, practical guidelines to help you decide what to charge your coaching clients.
First off, realize that what you have to offer the world is valuable.
Think about it…What made you want to become a coach in the first place? It probably sparked from the realization that YOU could help people that are facing real challenges and need real solutions. Understand that YOU have what it takes. YOU have unique insight and coaching capabilities that people need. So when setting your coaching rates, be confident in knowing that you’re worth the investment!
Second, here are some guidelines we use to help coaches decide on their rates:
Set a MONTHLY retainer fee.
Do not charge per session and never by the hour! – Clients are likely to be much more committed to the process when they pay for the entire month versus individual sessions. This prevents last-minute cancellations and unpredictable income for you.
Have 3-4 sessions with your clients per month.
When you charge a monthly retainer fee, this gives you and your client the flexibility to distribute the 3-4 sessions throughout the month as needed. For example, maybe your client has some big upcoming decisions to make and will need two sessions that week, and not need as much coaching at the end of the month. Since they’ve already paid for the entire month, you have the freedom to schedule the 3-4 sessions when they’re most needed.
Make each session a (generous) hour long.
Plan for each session to be an hour long. However, feel free to be generous with that hour if it goes 10 minutes or so over. This is all about the client and delivering the best service we can.
Our pricing suggestion
We recommend charging a monthly retainer fee of at least $2,000. (minimum). This comes out to approximately $500. an hour, for 3-4, 1-hour sessions each month. In some cases, more coaching is needed at the beginning of the relationship and less as time goes on.
Make An Agreement
This all should be done inside of a one-year agreement and if the client has 20 employees or more the fee should be higher. The more employees, the higher the fees for coaching.
We hope this helps you confidently set your coaching fees. Keep seeking training, keep gaining experience, and stay committed to constant growth and offering your clients the highest quality coaching you can. The more you grow, the more the value of your coaching increases, and the more time and freedom you’ll have to live the lifestyle you love.