Some of the highest paid coaches in the world can command six figures for a year long program.
Whilst for many new coaches, that may seem way out of reach, under-earning and undercharging as a coach needn’t be the case.
Alice, a relationship coach for corporate women shares how charging a premium fee didnt happen overnight but was something that increased gradually with her confidence.
At first, I was still unsure of myself as a coach as I was still learning a lot of the skills and refining my program.
But once I’d got certified and had practised my coaching alongside professional experts, I started to realise just how valuable what I had to offer really was.
In the space of a year, I went from charging £70 for a 1:1 session, to selling out my 12 week group coaching program that I charged £3000 per person for. I’d been struggling to get even close to my £10k a month goal, but raising my prices helped me to generate £30k in just one month.
The coaching industry is booming right now, with demand for coaches being greater than ever.
But does this demand automatically mean that coaches can charge more?
Dani Watson, founder of The Clique shares her thoughts
It all starts with confidence in your abilities.
Being able to command a premium fee for your services starts with knowing you’re able to provide a premium service and recognise your own worth and value as a coach.
You have to be great at what you do, which means getting certified through a comprehensive training program that gives you expert guidance from professional coaches.
If you are confident you can get your clients results, you will be confident in charging higher rates.
Once our members are fully certified, they can charge anything from £2k upwards for a 12 week program. We have some coaches who now command £10k plus for their high end offers. They are able to do so because the results they have been getting for their clients speak volumes.
Also know that charging the top fees may not happen right away.
It’s normal that when your first start out and are still learning that you charge a lower rate.
Typically, our members that are still training may offer a one off session for around £50-£100 an hour.
This helps them then get into the right mindset to receive money for their high end coaching program once they launch it.
Because they’ve already been charging for their services, they have already seen evidence of people willing to invest in them which helps them with their confidence selling at a higher level.
Becky, a coach for burned out corporate executives explains how she fell into the trap of undercharging for her programs, but now easily commands up to £15k for her programs.
“I started to realise that what I was charging for was not my time or my years of experience.”
“Clients pay you for a transformation. For a client, the quicker they can experience the breakthrough the better, which is why my 4 week intense breakthrough program is a five figure investment. I did question whether people would actually pay this at first, but my first two discovery calls with potentials said yes to me and paid during my first phone call with them.”
Liz, a wellness coach for women adds that it’s also about knowing where to find the people who see the value of the investment.
“I was initially wary of raising my rates as I’d been struggling with people telling me they couldn’t afford my services.
I realised that your prices will always be too high if you aren’t connecting with the right people.
I had been attracting the wrong people who didn’t necessarily see the value in what I offered.
The business section of the coach training gave guidance on where I should be looking to find those who are actually looking for a coach.
Once I started to find and connect with these people, selling at a premium fee became easy.
Dani adds that pricing is also a mindset shift.
You can be the best coach in the world, but if you lack self belief or have a lot of negative views around money, you may find yourself struggling to charge the prices you deserve to be charging.
I really struggled with imposter syndrome when I first started out, and this played out as “who am I to be charging these prices”
I also had a lot of limiting beliefs around money such as “it’s greedy to want more”.
It took a lot of self worth and money mindset work to really see myself as someone who deserved to be paid a premium fee and for me to believe that receiving that kind of money was a good thing.
I now realise that the more I am able to earn as coach, the more I can reinvest into my coaching and my business, meaning I can ultimately serve my clients in a more powerful way.
Pricing your programs as a coach may seem as simple as figuring out what other similarly qualified coaches are charging, but really, what you charge is largely tied to what you believe about yourself, what you believe about money and what you believe about people’s willingness to invest.
Ready for your next step as a coach?
Click HERE to join our FREE Become a Coach Course
Click HERE to find out more about getting certified inside The Clique Academy.