Do Life Coaches really make any money? We often get this question because there seem to be “so many coaches out there” and you may feel like you would have a lot of competition. This is a misperception. Life Coaching is one of the fastest-growing industries because people are seeking it as an alternative to traditional therapy. Coaching is more appealing because it is future-focused not about the past.
Chances are you had a coach yourself or are passionate about personal growth and naturally drawn to a profession where you can help others. Coaching is the most powerful form of personal growth that enables a client to get real results in their life. 99% of clients who hired a coach are “very satisfied” or “satisfied” — that’s an awesome ROI.
If you are a successful professional, you may be concerned with the income you could make as a coach. We put together ten ways you can earn income as a life coach to get inspired to take the leap into this amazing profession.
Note: The pricing listed is what is common in the industry and you should always consult your business coach for guidance on your pricing and do the inner work to feel confident to price what you want.
1. Private Coaching
Coaches on average charge $231/hour for their sessions. They do not sell sessions, but packages. For example, instead of one-off clients who are in and out of your practice, you can require a 3-month minimum to work with you and give them 6 private sessions over 3 months (2 sessions a month is ideal for clients) with some extra benefits such as email/text support in between sessions, guided meditations and exercises to do on their own.
Pricing Example: Packages at this level can start at $1,500 (that’s $500 a month per client) and if you have 10 clients, that is $5,000 per month in income. With just 20 clients (which is very doable part-time), you can earn $10,000 per month. The best part of this model is that you can stay here and make a 6-figure income as a part-time passion and still have time for family and friends and other passions and projects.
2. Group Coaching
Once you have accumulated a following in your community (online or locally), you can start a group coaching program. This program can offer weekly 1-hour group sessions every month. This way you can work with multiple people at the same time. Group coaching is highly effective as it builds community and everyone learns from each other. Even just witnessing your coaching of another person, their unconscious is also being transformed.
Pricing Examples: To make $2,500 a month with a group program, you can set the program to be high-volume, low cost such as 13 people at $199/month, or low-volume, higher cost such as 5 people at $499 per month. (The low volume is most popular with new coaches who do not have a big email list or following yet).
3. Private and Group Coaching Packages
This is a great model where your private clients can get access to the group calls and feel a sense of community while still getting personal attention in their private calls. The group program can also serve as a feeder for your private coaching. People participate in the group at a lower cost to explore your offerings and then ultimately want to work with you and upgrade to private coaching.
Pricing Example: Private Sessions with Group Coaching — $997/month up to $5,000/month (as you build demand and have a waiting list).
4. Workshops & Events
One of the most popular (and enjoyable…at least to me!) parts of coaching is creating in-person workshops. Host a 1/2 day, one day or weekend retreat for a group of people. Events are a great way to attract new clients and build a stronger bond and deeper transformation with your existing clients. They can be low-cost — room rental at your local yoga studio or community center, or high-end at a five-star resort. Where you host the event depends on your budget, your ideal client and what you charge for tickets.
Pricing Example: You can host a simple, low-cost workshop and sell 10 tickets for $250 each to make $2,500 in one day. High-end retreats can be costly but the client investment could be as much as $4,000 or more a ticket. Most new coaches start with the low-cost workshop to introduce their work and enroll new clients from the attendees.
5. VIP Days
This concept is for clients who want that extra personal touch. You can do a ½ day (4 hours) or a full day (7 hours) and it is one-to-one with you and the client. It’s like a private workshop just for them. Depending on how well you are trained, you can do so many things on this day for a deep dive with the client. (We have done these on Zoom too but they are much better in person).
Typically you can rent a room from an office-share space or yoga studio to meet.
Pricing Example: One VIP Session could be $2,500 or more depending on the outcome you promise and your experience as a coach.
6. Digital Products
You can create digital products like online courses in your specialty. This is best for more seasoned coaches who have worked with many clients and can effectively create a course that has tested and proven results. Online courses are great for passive income and to introduce your work to more people at a lower price point.
Pricing Example: Online course pricing has gone way down over the years. Some charge $29 and others can be thousands per course if it includes a live element or personal coaching sessions.
7. Books
With on-demand printing, it is easier than ever to author your own book and have it for sale on Amazon. While this isn’t a huge money maker (unless your book goes viral), it is a great way to get your message out and can be a good tool to attract new clients. The money won’t come directly from the book, but from the exposure you get from it to drive higher-ticket clients.
Pricing Example: $0-$25 per book (digital or printed)
8. Speaking & Training Opportunities
Companies often seek out coaches for motivational speaking or hosting a company workshop and pay you for this service. Income would depend on your expertise, credentials and experience.
Pricing Example: $500-$100,000 per speaking/training session
9. Coach as an Employee or Consultant
Many companies hire coaches as contractors or employees with long-term contracts to help with team motivation, work-life balance, personal growth and productivity. Some coaching companies hire coaches to work their group programs and coach their clients when the founder cannot meet the demand. You can get a full or part-time job as a coach if you don’t want to do the marketing yourself and rather have a steady paycheck.
Average Income: The average coach makes about $30,000-$60,000 with a company. Their role may also include some administrative work for client support.
10. Podcast Sponsorships
I have so much fun hosting a podcast with my husband, Dr. Rob. While it takes effort to get a following, it is a place to share your wisdom and connect with potential clients. If you reach over 10,000 downloads per month, you can begin to get income through sponsorships of your show by playing a commercial in the middle or mentioning their brand online.
Average Income: Sponsorship income varies between $18-50 CPM (cost per thousand listens), so it’s not a huge windfall until you have the numbers. Plus, some advertisers would pay more to be in front of the right audience.
Earn Money Doing What You Love
These are just some ways you can earn money as a life coach. As you plan to start or grow your business, get inspired by all of the opportunities you have to earn a good income or even a great income helping others and doing what you love.
Ready to start your coaching career?
Are you looking for an ICF-accredited training that goes beyond the conscious ego and into the unconscious, spiritual aspects of a person for a deeper and lasting transformation? Jungian Life Coach Training with CreativeMind combines Jungian Theory, Eastern Spirituality and Social Neuroscience into a depth coaching model to uncover, empower and express the true Self.
Download your free course brochure and let your coaching journey begin!
