You’re searching for a business coach and are perhaps wondering…how much do business coaches charge?
With so many professionals out there and each coach having different sets of skills, it’s sometimes difficult choosing the right one.
You probably know what a business coach does, but for clarity, let’s go over what a coach can do for you.
What does a business coach do?
A coach professionally works with you and acts like a partner to take your business to the next level. This involves diagnosing, troubleshooting, advising on marketing strategies, business management and how to lead a high-performing team. The coach also communicates ideas, pushes you beyond your comfort zone, sets goals and creates a clear plan to where your business needs to be.
Sometimes you may need a coach for a short-period, for only a few months or through a long-term 12-month commitment (or more). Prices, fees and what they charge varies. So, it’s important to know what you need, so you don’t get overcharged or choose the wrong coach.
How much do business coaches charge?
The cost of business coaching depends on the size of your organisation and if you want one-on-one or group coaching. On average, business coaches charge fees of around $1000 per month for group coaching and $2000 per month for one-on-one coaching.
There are other coaching programs also, such as per session fees. They may charge average fees of $200-$400 per 60min session, depending if they speak with you in-person or on the phone. In-person fees generally cost more due to the extra time involved.
There are many factors when choosing your coach, such as multi-disciplinary skills, experience in business development and knowing how to build a business from scratch.
A lot of business coaches become ‘coaches’ from going to courses that teaches them how to ‘coach’. There’s one well known organisation that trains regular people with no experience in business to become ‘coaches’ and charge the above fees. However, their experience in business, running their own business and having multi-talented skills are virtually non-existent. They have minimal credibility.
A true business coach is someone who has been ‘forced’ to develop multi-skills due to their entrepreneurial nature when starting their business. These are the coaches who’ve been exactly where you are and have experienced the greatest hardships every business owner has faced (and will face).
You should seek a coach who runs his or her own coaching business and not go with an organisation that ‘hires’ coaches. You’ll always get a better connection with someone who has been exactly where you’ve been and has developed the skills, mindset and knows how to navigate the competitive business world.
Also, keep in mind, most business coaches out there just ‘coach.’ This means, they don’t consult or do any of the work.
This indicates that they don’t feel confident performing the tasks themselves because they only learnt how to coach.
At Fantail Foundation, we don’t just coach. We’ve experienced everything there is to know about building a business. We also perform the work, provide consulting and grow your business through digital marketing, SEO and web-design.
Our multi-directional approach allows us to give well grounded advice that’s in alignment with your brand, marketplace message and unique business culture.
And the best part: We don’t charge anywhere near what others charge. And if you’re in Melbourne metropolitan, we’ll come and see you in your place of convenience -at no extra charge. We give coaching and a whole lot more – for even faster business growth and development. Check out our prices and packages and coaching programs below.
The average rate for a business coach can range from $200 — $500 per hour (or per session). If you were to hire a coach each on a monthly basis, you could expect to pay an average of $1000-$3000 per month. And yearly rates average about $12,000-$24,000 per annum.
Group coaching is usually the affordable alternative. On average, the fee can be half of the above figures. However, group coaching, although affordable may not be tailored or specific for your needs. So, it’s important to know what to ask your coach so you can better qualify the right professional for you.
Business coaching rates
For one-on-one private coaching
- $200-$500 per hour (per session)
- $1000-$3000 per month
- $12,000-$24000 per year
For group coaching
- $6000-$8000 per year for group coaching
Keep in mind, the above figures are averages. However, you’ll find most coaches will charge within those ranges.
Programs, packages and pricing: Which should your business choose?
Many business owners seeking a coach usually don’t know what they need. Some may ‘think’ they want just a few sessions or coaching for a few months. But after a few minutes speaking with a business coach, they realise how much work needs to be done. If you’ve had a previous coach and only want help with a few specific things, then per session or monthly coaching is suited. However, if you’ve never had coaching or if your business needs lots of work, then long-term coaching would be best.
Not all coaches offer the same value.
Business coaches only ‘coach.’ Don’t expect them to do any of the work, because they won’t. They’re great at identifying your business problems, how to make more money and providing business strategies. Think of them as the army ‘general’ who oversees and provides strategy for all your business battles. If you need soldiers (you most likely will), then be prepared for additional costs, fees and charges for those soldiers to do the work. So, for example…if you need a web-designer or an SEO specialist, to carry out your digital marketing needs, then be prepared to extend your budget. The same goes for a social media consultant, marketing consultant, content writer, etc.
So, if you’re paying a minimum of $12,000 per annum for just ‘coaching’ — then be prepared to for an extra $1000-$3000 per month for all your digital marketing needs (an additional $12,000-$36,000 per year) just to make things work at your full potential. If you hire the right people, you’ll get an ROI, but if your business can’t afford much, then it can add up, quickly.
So, when looking at how much a business coach charges, keep in mind the additional fees and charges you might incur. Speak to your business coach about this.
Looking for a business coach in Melbourne?
At Fantail Foundation, we provide business coaching and over 40 different skill sets (including high-converting web-design, SEO, done-for-you marketing campaigns, consultancy and so much more) at incredible rates. At the best part, we offer all this at much lower fees than what others charge (who only coach). So now you know how much business coaches charge. Visit our home page to learn more, including our prices, packages and comparisons — so you know exactly what you’re getting. We also provide custom packages so you receive what you need. Check out our GMB page here for additional offers.