When it comes to pricing, many coaches use the general rule that group training should cost each individual 30% of individual training fees. A life coach can help you improve your life, but you still need to take responsibility for the changes you want to make. They're not going to do the work for you. For that reason, some coaches may require a commitment of three, six or 12 months.
Before investing their time and energy in working with you, they want to be sure that you are committed to making improvements. My clients pay a fixed amount every month (similar to a gym membership, which is automatically charged each month with PayPal) for a benefit package that includes a certain amount of training time. This means that customers living in major cities around the world are likely to pay higher fees for training services than those living in smaller cities or rural areas. Hourly rates are quite simple and straightforward: the client pays you based on each hour of training they receive (see Chapter 1 for the key reasons why it's important to move away from this price category as soon as possible).
Coach prices and fees are mostly unregulated and many coaches choose a price that feels aligned, based on their research on competitors' price points plus what their target market or ideal customers are willing to pay. Online payment methods, including the popular PayPal or Stripe, are free to the client, but they can be relatively expensive for you, the coach, especially if you have an international client base. On average, clients in New York, DC and Los Angeles will pay more for training than clients in Texas, Nebraska, or Colorado. To determine what your particular ideal client is willing to pay involves doing some research and looking at what some of the other coaches (both novice and experienced) are charging in your niche.
If you are a well-known coach or a coach in demand in your field of expertise, your clients will be much more willing to pay higher prices to work with you.
