How Much Does It Cost To Become A Business Coach? (In 2024)
Looking to start a business coach?
But curious about:
- how much it costs to start a business coach?
- what are the typical business coach startup costs?
- or the actual cost of starting business coaches?
Well, we have the data to prove it, supported by real business coaches and how much they actually cost to start.
Let's go over it.
What is the average cost of starting a business coach?
Based on our data reported by actual business coach founders, the average cost of starting a business coach is between $119 and $2,500,000.
Additionally, our data shows that the the median startup costs for a business coach are around $2.75K.
Remember, though, not all business coaches are the same - and neither are people's budgets. It's important to distinguish between different levels or types of business coaches
Real World Examples: How much does it cost to start a business coach?
We asked real business coach founders and business owners how much it actually cost to get started?
Here is what they said:
Stacey Haynes
Founder of Thrivette ($10K/month)
"We got our biggest help with funding our dreams through Kickstarter! While we have had some fails, we have made over $165,000 through Kickstarter alone!"
Stacey Haynes is the founder of Thrivette, a consulting and resource hub focusing on helping businesses grow.
Niall Doherty
Founder of eBiz Facts ($21K/month)
"I only had about $15,000 to my name when I decided to start eBiz Facts."
Niall Doherty is the founder of eBiz Facts, an affiliate marketing website that helps people make money online and currently earns around $4,000 per month.
Kamil Sattar
Founder of E-commerce Mentoring ($100K/month)
"The start-up costs I faced were my Shopify plan, my Facebook marketing costs, my Shopify app costs, transaction fees, taxes, etc."
Kamil Sattar is the founder of E-Commerce Mentoring, a business that specializes in helping people create their own drop ship companies.
Jennifer Dawn
Founder of Jennifer Dawn Coaching ($100K/month)
"The first year I began my business I made $50k in revenues and now we are at seven figures."
Jennifer Dawn is the founder of Jennifer Dawn Coaching, a business coaching practice that helps business owners grow their businesses without sacrificing their personal lives.
Claire Osborne
Founder of The Mindset Society ($15.5K/month)
"Launching the business cost me about £1k (most of which was, in hindsight, unnecessary spend!) and involved three big tasks; figuring out my proposition, creating a website, and connecting with the people that wanted my services and there were lessons aplenty in all three."
Claire Osborne is the founder of The Mindset Society, a coaching business that she started during the first UK coronavirus lockdown, which has averaged over $15k revenue per month since its inception.
Kevon Cheung
Founder of Public Lab ($3.5K/month)
"The beauty of running an online education business is that the startup cost is very low. On average I’m spending USD $600 a month on tools."
Kevon Cheung is the founder of Public Lab, an online education business that helps creators launch their products by building in public.
Todd Baker
Founder of Project 9 Life ($40K/month)
"Costs to get started were $40-$50k, for all the systems, continued education, books, memberships, etc… These costs were for education and books and classes about self development, a website, and all the support behind it from Zoom and calendly to a funnel and CRM."
Todd Baker is the founder of Project9LIFE, a life coaching business that helps people gain clarity, simplicity, and progress through an 8-week group coaching program.
Robin Waite
Founder of Fearless Business ($25K/month)
"The costs were very low with this being an online course, I had no costs for hiring venues, etc, however, I did have to upgrade my Zoom license so I could support more people. The workbooks and welcome packs worked out to be approximately £40-50 per person to create, pack and ship."
Robin Waite is the founder of Fearless Business, a business coaching accelerator that helps coaches, consultants, and freelancers productize their offers and improve their sales processes.
Steve Mastroianni
Founder of Rockstar Mind ($78K/month)
"Startup costs ended up being really low for me - I recorded courses on my phone and maybe paid around $200 for a website domain and video hosting fees."
Steve Mastroianni is the founder of Rockstar Mind Inc., an online coaching platform focusing on guitarists and songwriters, which started in 2014 and brings in six figures per year.
Rebecca Tracey
Founder of The Uncaged Life ($68K/month)
"As for startup costs, I think I paid $250 for someone to help me set up a basic wordpress template and I paid a copywriter $1000."
Rebecca Tracey is the founder of The Uncaged Life, a coaching business that helps coaches and solopreneurs get their first paying clients.
Enjoyed reading these real world examples?
Our platform is full of case studies of successful business coaches that you can learn from.
Starting a business coach - what you should know:
Starting a business coach enterprise involves various costs and considerations that can significantly affect your budget and strategy.
Certification and Training Fees
While not always mandatory, professional certification and training can add credibility to your business coaching practice. These programs can range from $1,000 to $10,000 depending on the institution and the depth of the program. For example, the International Coach Federation's (ICF) program costs between $4,100 and $10,300.
Marketing and Advertising
Your success as a business coach greatly depends on your ability to attract clients. A basic website might set you back $500 to $2,000, whereas a more complex, SEO-optimized site can cost up to $10,000. Additionally, budget for ongoing monthly expenses like social media advertising, which can range from $200 to $1,000 per month.
Office Space and Equipment
If you choose to run your business from a professional office, rental costs can vary widely. A small office space in a city can cost anywhere from $300 to $1,200 per month. Alternatively, setting up a home office may require an initial investment of $500 to $2,500 for essential equipment like a reliable computer, high-speed internet, and office furniture.
Legal and Regulatory Costs
Don't overlook the legal and regulatory expenses. Incorporating your business can cost between $100 and $800, depending on your state. Additionally, liability insurance—which is crucial for protecting yourself against potential lawsuits—can cost $500 to $1,200 annually.
Continued Education and Networking
Maintaining your certification and staying updated with industry trends often entails additional costs. Continued education courses can range from $300 to $2,000 per year. Networking events and conferences may require an investment of $500 to $1,500 annually, not including travel and accommodation expenses.
By understanding these costs, you can better prepare for the financial commitments involved in starting a business coaching enterprise and make informed decisions to optimize your investments.
Potential Costs of Starting a Business Coach
Starting a business coach comes with a variety of costs that can be categorized into initial investments, ongoing expenses, and optional expenditures for enhancing service quality and reach.
| Expense Category | Specific Cost Items | Estimated Cost (USD) | Description |
|---|---|---|---|
| Startup Costs | Business Registration Fees | $50 - $500 | Varies by state and type of entity (LLC, Corporation, etc.). |
| Legal and Accounting Fees | $500 - $2,500 | Initial setup and advice can vary depending on complexity. | |
| Insurance | $300 - $1,000 annually | Professional liability insurance to cover potential legal claims. | |
| Licenses and Certifications | $200 - $2,000 | Relevant coaching certifications or business licenses. | |
| Operational Costs | Website Development | $1,000 - $5,000 | Initial design and setup costs; includes custom layout and functionalities. |
| Website Hosting | $10 - $50 per month | Hosting plan to keep your website online. | |
| Marketing and Advertising | $500 - $5,000 per month | Social media ads, Google Ads, email marketing campaigns. | |
| Office Supplies | $100 - $500 | Basic supplies such as notebooks, pens, and other stationeries. | |
| Software Subscriptions | $100 - $300 per month | Tools for email marketing (e.g. Mailchimp), scheduling (Calendly), or CRM systems (e.g. HubSpot). | |
| Professional Development | $200 - $1,500 annually | Courses, workshops, or seminars to keep skills up-to-date. | |
| Administrative Labor | $15 - $50 per hour | Cost of hiring virtual assistants or administrative staff. | |
| Technology | Computer/ Laptop | $500 - $2,000 | High-performance machine for smooth business operations. |
| Printer/ Scanner | $100 - $300 | For creating and managing physical documents. | |
| Video Conferencing Tools | $10 - $30 per month | Subscriptions to services like Zoom or Skype for client meetings. | |
| Internet Service | $50 - $150 per month | High-speed internet for seamless online operations. | |
| Optional Costs | Professional Workspace | $300 - $1,500 per month | Coworking space or office lease depending on location and amenities. |
| Networking Events | $50 - $500 per event | Charges to attend business networking events or conferences. | |
| Content Creation | $200 - $1,000 per month | Hiring freelancers for blog posts, social media content, or SEO services. | |
| Membership Fees | $100 - $500 annually | Joining professional organizations like ICF (International Coach Federation). | |
| Branding and Design | $500 - $2,000 | Professional logo, business cards, and other branding materials. | |
| Client Management System (CMS) | $20 - $100 per month | Tools specifically for managing client interactions and data. |
These costs cover the gamut from the basics required to get started to additional investments that can help in scaling and enhancing the quality of your business coaching services.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
