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CostHelper > Small Business  > Life or Business Coach

Life or Business Coach Cost


How Much Does a Life or Business Coach Cost?

 
average costMedium: Average $75-$200 Per Hourhigh costHigh: Can Run $750-$1,000+ Per Month for Business Coaching
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A life coach provides feedback, insight and guidance to individuals or organizations for professional development, personal enrichment and goal achievement. Typically a coach listens and offers observations, concepts and principles to assist in identifying possible goals as well as actions to achieve those goals. Rather than an expert or authority, the coach acts a partner in targeting success as defined by the client. Coaching may be done face-to-face, over the telephone or via e-mail.

Typical costs:

  • Coaching fees vary widely depending on the length and frequency of the sessions, the type of coaching provided (corporate coaching is typically more expensive than personal coaching), the coach's expertise and reputation, and other factors. Prices can be negotiated when you set up the coaching relationship. Coaches working with individuals might charge anywhere from $50-$300 or more an hour, with an average range of $75-$200. Many coaches offer their services in packages, such as four half-hour sessions a month for $200-$300, or eight 90-minute sessions spread over 5-6 months for $800-$2,000. And some coaches offer rates in the lower end of the price range for coaching sessions conducted entirely by phone and/or e-mail.
  • Coaching for a small business or corporation on specific business, management and leadership goals can run as much as $750-$1,000 or more per month, depending on what's included, such as individual mentoring, seminars or group sessions.
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What should be included:
  • Depending on the coach's style and the client's needs, coaching sessions can be anywhere from 20-90 minutes. Most coaches offer a free introductory session to go over the situation and to assess the potential for an effective working relationship between the coach and client. Generally coaching involves the client creating and implementing some sort of action plan to achieve specific goals. The coaching relationship might last 3-6 months or 1-2 years, depending on the client's needs for short- or longer-term guidance and support. The International Coach Federation answers frequently asked questions about coaching.
  • Coaching can cover a wide range of issues. Life coaching is aimed at setting and achieving personal goals. Business coaching provides support to an individual or group to become more effective by improving leadership, employee accountability, teamwork, sales, communication or similar issues, and business coaching can include one-on-one training, group coaching or large seminars. Personal coaching helps a client identify personal, business or relationship goals and then create strategies and actions plans to meet those goals. Coaching can also cover areas such as health/wellness, dating or conflict resolution.
  • While therapy or psychological counseling generally focuses on emotional healing or relief from psychological pain, coaching is geared toward setting and achieving goals. The International Coach Federation provides an overview of the nature and scope of coaching as compared to therapy or consulting.
Shopping for a life or business coach:
  • Coaching is a personal relationship, and you will need to work well with your coach. Interview several coaches, asking about their background, life experience, coaching training and coaching experience. Ask about the length of each session, the length of their typical coaching relationship (months or years), availability for follow-up (such as by phone or e-mail) and what sort of contract or verbal commitment they require. GGCI.com lists the steps[1] for choosing a coach.
  • Coaching is a relatively new field, and there is no regulation about who can call themselves a life coach. Be sure you understand exactly the type and extent of training a coach has received.
  • Referrals are available from the International Coach Federation.
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External Resources:
  1.  www.ggci.com/life-coach/
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