How much does a business coach cost?

Let’s talk pricing… How much can you expect to pay a business coach?

When it comes to investing in a coaching program for your business, the below variables will have an influence on how much a business coach costs :

What you want to achieve
How fast you want to achieve it
How you want the coaching to work

This video will help you understand those variables to enable you to make an informed decision about what’s right for you and your business.

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What is the average cost of a business coach?

£1000 to £4000 per month on average as an industry standard

What are the main factors that determine this cost?

1. The type of business coaching program

Generally speaking, there are two approaches; there’s a group coaching route and a one-to-one bespoke coaching route.

Group business coaching is where you work in a group with other business owners. These types of programs tend to have an element of training or workshops, and there is usually some peer-to-peer coaching and interaction. The program will probably include some tools and resources to take away and the advantage of group coaching is that you are spreading the cost among several companies or small businesses.

This setup tends to be at a lower price point, about £500 to £1000 per month for a good group coaching program. The downside is that you don’t get the bespoke experience; the coach programme will not be tailored to your business’s specific situation which means that it is likely to take longer to put together a plan to address your specific challenges.

One-to-one business coaching is completely tailored to what you are trying to achieve and will lead to better and faster results. You will work on a one-to-one basis with your business coach and the process can include people in your key management team if required.

Your coach will identify your particular business challenges and gain an understanding of the constraints that are stopping your business from moving forward. You will work on a bespoke plan to achieve your business goals and there will also be a focus on personal development. The industry average cost for one-to-one coaching is between £1000 to £4000 per month for 60-minute sessions. The cost will vary depending on the coaching structure and the number of people in your team who will be involved in the program.

£ 500 - 1000 Monthly

Group business coaching

£ 1000- 4000 Monthly

One-on-one business coaching

2. Frequency of coaching

If you’re going to hire a business coach on a more frequent basis, that will push the coaching price up, and if you’re happy to see somebody only now and then, that reduces the overall cost.

In my experience, coaching tends to be either on a weekly, fortnightly, monthly basis, and in some cases every 12 months. The more often you do something, the better the results should be. Coaching should be about consistency, and it should be about rhythm. You should find a coaching session frequency that works for you, that isn’t too much of a commitment but that keeps you just outside your comfort zone.

3. The experience of the coach

A very experienced and skilled business coach will charge you more, whereas new coaches that aren’t quite as skilled and maybe might not be as confident in generating the results you’re after in your business will charge less.

Questions you should ask yourself to help you decide on the business coaching route for you:

Do you want to go down the one-to-one coaching route?
Do you want to choose the group coaching route?
Do you want to see somebody frequently to get more momentum and achieve faster results?
Alternatively, are you okay slowing down the pace?
Do you want to work with an experienced coach who has been coaching for a long time?
Are you okay working with a less experienced business coach?

The key thing is that business coaching is an excellent tool for helping you get better results in your business and finding a business coach who is the right fit for you is a very important step in the process.