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How Much Does It Cost To Start A Life Coaching Business? (In 2023)

How Much Does It Cost To Start A Life Coaching Business? (In 2023)
Start A Life Coaching Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Wondering how much it costs to start a life coaching business?

  • The minimum startup costs for a life coaching business: $62
  • The maximum startup costs for a life coaching business: $38,061
  • The average startup costs for a life coaching business: $22,173

Here's a detailed list of a life coaching business startup costs:

Learn more about starting a life coaching business:

Where to start?

-> How to start a life coaching business?
-> Pros and cons of a life coaching business

Need inspiration?

-> Other life coaching business success stories
-> Examples of established life coaching business
-> Marketing ideas for a life coaching business
-> Life coaching business slogans
-> Life coaching business names
-> Life coaching business Instagram bios
-> Life coaching business Instagram captions

Other resources

-> Life coaching business tips
-> Blog post ideas for a life coaching business
-> Life coaching business quotes
-> Life coaching business calculator

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost Required? Min Cost Max Cost

Set up business: LLC & Corporations

Required

$50

$500

Small Business Insurance

Recommended

$500

$2,000

Permit and License Fees

Optional

$50

$700

Trademark

Optional

$0

$700

Lawyer Fees

Optional

$0

$1,500

A Patent ➜

Optional

$5,000

$15,000

Software Expenses

Your life coaching business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost Required? Min Cost Max Cost

File Hosting Service

Recommended

$0

$299

Email marketing tool

Recommended

$0

$100

Accounting & Invoicing Software

Recommended

$0

$50

CRM Software ➜

Recommended

$12

$300

Project Management Software

Recommended

$0

$25

Internal Communication Tool

Recommended

$0

$20

IT Support ➜

Optional

$150

$2,000

Design Programs & Software

Optional

$0

$50

Social Media Management Tools

Optional

$0

$50

Payroll Software

Optional

$0

$200

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your life coaching business grows.

Cost Required? Min Cost Max Cost
Rent ➜

Optional

$0

$5,750

Utility Costs For Office Space ➜

Optional

$0

$1,150

WiFi & Internet ➜

Optional

$0

$100

Employee & Freelancer Expenses

Cost Required? Min Cost Max Cost
Payroll Costs & Fees ➜

Optional

$150

$250

Employee Hiring Expenses

Optional

$1

$2

Employee Rewards ➜

Optional

$0

$100

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost Required? Min Cost Max Cost
Domain Name ➜

Required

$12

$200

Website Hosting Costs ➜

Required

$0

$300

Website Builder ➜

Recommended

$10

$500

Business Email Hosting Service ➜

Recommended

$1

$15

Website & Live Chat Tool

Recommended

$0

$200

Web Designer ➜

Optional

$200

$6,000

Pat Walls,  Founder of Starter Story
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