Why Coaching Fees And Rates Can Vary
Coaching fees vary enormously across the profession, so if you are looking for life coaching how much should you be paying or if you are a business coach starting out how much should you be charging?
Reasons for variance in coaching rates
First it is important to understand the reason for the variance in coaching fees so you can then decide how much you are prepared to spend.
- Fees are influenced by each coach’s chosen target market – how much can that person or organisation afford and what is the service worth to them? Business coaching fees are therefore generally much higher than personal or life coaching.
- Some coaches will advertise a standard fee whilst others will charge what the client feels the service is worth to them.
- Coaches are qualified to varying levels – those who have invested much time and money into their training may place a greater values on their services than those with no formal qualifications.
- Some coaches charge more for face to face sessions than telephone coaching.
- Some coaches spend more time preparing for and following up each coaching sessions and will budget for their time accordingly.
- Some more experienced coaches may charge more as demand for their services increases.
- Coaches who become experts in their field for example who specialise in certain areas generally command higher fees than coaches who coach anybody and everybody.
- Perception of value as a marketing tool – some coaches will charge more as a way of giving the perception that their services are of greater value and better than those who charge less. Beware, more costly coaching does not necessarily mean better!
- Some coaches may be VAT registered (UK) especially if they have a well developed business and/or are have corporate clients. This will mean that they have to pay VAT on the income they receive so their fees will reflect this. Some coaches may opt to pay the VAT on behalf of clients who are not VAT registered
Coaching fees – the figures
Many coaches give a free introductory session of around 30 minutes.
Personal and life coaching rates generally fall between £50 and £100 per hour, however, there are a few coaches who do charge as little as £35 for personal coaching
Business coaching rates usually start from around £150/hour and rise to over £200/hour.
What fees should you be paying?
There are a number questions to answer when deciding how much you should be paying:
- How much can you afford?
- How much is a good coach worth to you? If someone is going to help you transform your life and help you to achieve your goals what is this worth to you?
- What are you getting for your money? How important is it that you have face to face coaching which generally costs more? What follow up, such as e-mail support is provided? How experienced and qualified do you want your coach to be?
- Remember choosing the right coach for you is a very important consideration so your needs should come first and the price will follow.
Choosing A Coach
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