How much does coaching cost?
You’ve probably heard about coaching. Maybe you’ve even been interested in getting a coach yourself. But one of the main factors behind whether to work with a coach or not, is price.
It’s the first thing people want to know. So, I thought I’d answer it.
Just how much does life coaching cost?
The term coaching covers many different avenues.
Law of Attraction Coaches,
Divorce Coaches and so many more.
So, it is difficult to give you an actual price. However, I will try my best to dive into the kind of costs out there, for you.
Coaching is a growing industry. Back in 2019 the industry was worth $15 billion, with a growth rate of 6.7%. Due to the range of different reasons why someone would hire a coach the industry is growing year on year. And as it becomes more recognised and accepted the prices go up.
Unlike a product that tends to be expensive when it is new to the market and then becomes cheaper the more people make it, the cost of a service tends to increase the more popular they become.
A coach will help you grow emotionally and mentally, so you can see improvements in yourself, your life, your relationships and your work/business.
There are different contributing factors surrounding price, and I we will take a look at these too in a minute.
But, on average, in the UK, a coach can cost between £50 – £1000 per session (starting price) depending on the intensity of the sessions required. This price usually includes a specified amount of access to your coach via email or messenger.
A coach can help you understand your true potential and strengthen your belief in yourself, and so increase your productivity and confidence. So, the return on your investment can be limitless, which is why the prices can be high.
How much does coaching cost? Well, coaches who have been coaching for many years and who are in high demand may charge between £2,000 – £10,000 per session. Generally the higher the price the more exclusive your access.
Why do coaches charge so much?
Working with a coach, albeit beneficial, can be expensive. So why do they charge so much? I mean, after all you can get all the information online for free if you want to affect your own personal transformation.
It is true, you can go to You Tube and watch a free video, or Google the answers you need but how long is that going to take you, and how do you know that the information you get is correct? How much time is trawling for answers going to take you?
A coach is someone who has invested heavily in themselves, to give them the knowledge and tools to help you. Most coaches study their main certification and then study some more. Although they aren’t medical professionals, they are as committed to keep learning and staying up to date on new innovations and techniques.
All of which requires an investment on their behalf.
They have also trained in their specific field, for 100s of hours. They didn’t watch a few You Tube videos, they researched and studied to make sure that they are ready to be able to work with you.
So, although you probably can find ways to help yourself, your coach has invested in learning, not read the free information online, and is qualified to help you using proven tools and techniques.
And those techniques work.
According to the Institute of Coaching over 70% of people who worked with a coach saw improvements in the work performance, relationships and the ways they communicated with others. 80% had increased self confidence, and 86% of companies that invested in coaching for their employees recouped more than their investment making it a high ROI.
And the International Coaching Federation reported 96% of organisations would definitely work with a coach again, after having experienced coaching the first time.
So, some considerations to think about when deciding whether working with a coach is worth the investment are:
- What is your budget?
- Do you have the time and energy to commit right now, as well as the resources?
- What results are you wanting to get from working with a coach?
- What is overcoming your problems worth to you? To determine if you going to get a return on your investment.
- The pros and cons of working with a coach