Good coaching has the opportunity to change your life experience forever. How much that is worth to you depends on the results you need? It's difficult to put a price on that isn’t it.
Head to a coaches website and chances are you will NOT find any mention of prices. Lots of useful articles and videos, but is there a pricing page? Probably not.
And the reason is simple.
They think it scares people away.
You see good coaching is priceless, but CLIENTS need to attach a value to what it is worth to them. That value is often thought of as COST PER HOUR. But this would be a mistake. How can you put a price on transitioning from an existence of misery, anxiety and stress to one of joy, fulfilment and peace of mind?
It is an unfortunate truth that many coaches, especially when starting out, have no idea what to charge. It is surprisingly common for a coach to have a figure in their heads but this is in no way set. It is extremely uncomfortable for them (as they have fear and a sense of lack over pricing), and uncomfortable for the client as they sense the awkwardness of the conversation.
So how is a fee set?
There are a number of factors that will determine a coaches fee:
1. The experience or expertise of the coach
2. The specific niche you need help in
3. The length of the coaching contract
The Experience/ Expertise of the coach
A coach just starting out on their journey will often offer FREE or low cost sessions as they build their experience and hone their personal style. It is an opportunity for them to gain valuable coaching hours, and for the client to experience coaching. It is reasonable not to expect too much from the coach at this point, and this is reflected in the fee. It is a win-win for both parties, as long as expectations are not too high.
At the other end of the scale, the sky is literally the limit. Steve Hardison, known as ‘The Ultimate Coach’ charges $200,000 for 100 hours. He lives in Arizona and will not travel or video calls. Clients must visit him in person at additional cost. This does not stop people and he has a healthy list of clients, with a waiting list. Why? Because Steve gets RESULTS. Clients change in his company and his coaching is powerfully impactful.
In between these sit other coaches, and a range of fees. For a good coach I would reasonable expect to pay between £2,000 and £10,000 for a package of coaching, but fees and offerings will vary wildly.
The LENGTH of the coaching CONTRACT
When starting out many coaches charge ‘by the hour’. In my mind this is a mistake and devalues the experience. Clients want to buy RESULTS, not HOURS. It is perfectly normal for good, experienced coaches to only work in ‘packages’. For instance, at the time of writing my minimum package is 3 months. This gives both the client and I the time to embed deep learning and transform their experience of life. As I say to prospective clients, if you are having a haircut you would not leave halfway through!
The Specific Niche
There are a number of specific coaching niches. A personal fitness trainer for example generally charges by the hour averaging £30-£70. A business or executive coach will charge A LOT more.
In between their are relationship, divorce, mental wellness, or sector specific coaches. They will each charge what they think they are worth.
So prices will vary, and and it is up to you, the client, to decide whether that fee feels right for you, and more importantly, you and the prospective are a good fit.
The DISCOVERY session
Many coaches offer a ‘discovery session’. These are normally just to get to know you, and it is unlikely you will experience coaching during these calls. The worst type will just be sales calls. Many coaches do a lot better.
For example, I would always offer a powerful ‘no holds barred’ coaching session to prospective clients so they can experience what time with me would be like, and many others will do the same. Their is no harm is asking to ‘try before you buy’.
For the record and in the interests of transparency, here are some of my offerings
There is lots of free resources on my website from videos, blogs to courses.
The Overwhelmed Manager: What To Do When You Don’t Know What To Do is available on my website store as a paperback or PDF, and as a Kindle book on Amazon
My 12 week group coaching programme is available through my store. Click here for further details
Email me to find out more about 121 coaching. Prices for a 6 month coaching package are around £2995.
If you want to experience my coaching during a complimentary session just drop me an email. I will serve you as best as I can during our 45 minute Zoom call together. (There will be no salesy stuff from me)
Next time: How do I find a coach that is right for you
Martyn Dawes is a Coach, Social Care Consultant, and Author of The Overwhelmed Manager: What To Do When You Don’t Know What To Do