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How to Start a Life Coaching Business
The annual salary of a life coach can range from $28,034 to $251,068, according to Payscale's salary database. Your salary as a life coach will, however, depend on several factors, including: · Your chosen market – if you coach top-level management cadre, you are likely to rake in more revenue. · Your location – if you serve a niche within a city such as New York, you are likely to charge higher fee but the cost of operation may also be higher. · Your level of experience – if you are particularly sound professional and have an excellent delivery pattern, you are likely to charge more. · Your training and credentials – if you have been recommended and your coaching services have received approval from industry body, your brand equity will give you leverage to charge more. The vast majority of life coaches' hourly rates fall within $75 and $200 per hour schooling a client, which doesn't usually include preparation time. When working on a retainer basis however, coaches normally charge a client between $500 and $2,000 per calendar month. On the profit side, an ICF study of the Bureau of Labor Statistics shows that the average life coach earned $61,900 in 2015. This is considerably higher than the average annual wage of $36,200 in the same year. This book covers a comprehensive guide on how to generate over $300,000 annual salary as a life coach. We will take you through a step-by-step process of setting up a life-coaching business and building your brand successfully. If you are ready to start an exciting career as a life coach, then this book is for you.
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